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Report Date : |
26.06.2013 |
IDENTIFICATION DETAILS
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Name : |
BLUEBEET LIMITED |
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Registered Office : |
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Country : |
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Date of Incorporation : |
30.05.2013 |
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Com. Reg. No.: |
4461338 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import and wholesale distribution of apparels, uniforms, workwear, sportswear etc. |
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No. of Employees : |
Directors are the only employees of the Subject |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
New Zealand |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
NEW ZEALAND - ECONOMIC OVERVIEW
Over the past 20 years the government has transformed New
Zealand from an agrarian economy dependent on concessionary British market access
to a more industrialized, free market economy that can compete globally. This
dynamic growth has boosted real incomes - but left behind some at the bottom of
the ladder - and broadened and deepened the technological capabilities of the
industrial sector. Per capita income rose for ten consecutive years until 2007
in purchasing power parity terms, but fell in 2008-09. Debt-driven consumer
spending drove robust growth in the first half of the decade, helping fuel a
large balance of payments deficit that posed a challenge for economic managers.
Inflationary pressures caused the central bank to raise its key rate steadily
from January 2004 until it was among the highest in the OECD in 2007-08;
international capital inflows attracted to the high rates further strengthened
the currency and housing market, however, aggravating the current account
deficit. The economy fell into recession before the start of the global
financial crisis and contracted for five consecutive quarters in 2008-09. In
line with global peers, the central bank cut interest rates aggressively and
the government developed fiscal stimulus measures. The economy posted a 2%
decline in 2009, but pulled out of recession late in the year, and achieved
roughly 2% per year growth in 2010-12. Nevertheless, key trade sectors remain
vulnerable to weak external demand. The government plans to raise productivity
growth and develop infrastructure, while reining in government spending.
Source
: CIA
Verified Address
Subject name : BLUEBEET LIMITED
Business address :
29 Alexis Avenue
Town : Mount Albert
Province : Auckland
Zip/postal code : 1025
Country : New Zealand
Tel : +64 9 8493938
Email : bron@bluebeet.co.nz
Registered address
: 29 Alexis Avenue
Town : Mount Albert
Province : Auckland
Zip/postal code : 1025
Country : New Zealand
Executive Summary
Date founded or
registered : 30/05/2013
Legal form : Private Limited
Company
Chief executive : Alan Michael Dempsey
Issued & paid
up capital : NZD 100
Line of business :
Import and wholesale
distribution of apparels, uniforms, workwear, sportswear
etc.
Staff employed : Directors are the only
employees of the Subject
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is in start-up
phase
Management
experience : Management is inadequately experienced
Financial
performance : Financial performance is undetermined
Organisation
structure : Organisational structure is flawed
Detrimental : No
detrimental found
Payment history : No payment delays noted
Credit amount
suggestion : Fully secured terms.
Credit amount
asked : Not described.
Comments : It is strictly advisable to
conduct business dealing on prepayment or L/C basis
due to the Subject recent date of establishment.
Registry Data
Registration date
: 30/05/2013
Legal form : Private Limited Company
Registration no 4461338
Registered
authority : New Zealand Companies
Office
Registry status : Live/Active
Previous name : None reported.
Change of legal
form : None reported.
Key Management
Name : Alan Michael Dempsey
Designation : Managing Director
Appointments
Name : Alan Michael Dempsey
Designation : Director
Appointment date :
30/05/13
Address : 29 Alexis Avenue
Mount Albert, Auckland 1025
New Zealand
Name : Bronwyn Ann Dempsey
Designation : Director
Appointment date :
30/05/13
Address : 29 Alexis Avenue
Mount Albert, Auckland 1025
New Zealand
Staff employed :
Directors are the only employees of the Subject
Composition
Authorized Capital
: NZD 100
No of shares : 100 Shares
Share par value : NZD 1
Issued capital : NZD 100
Paid up capital : NZD 100
How listed : Full
List
Composition
Shareholder name :
Alan Michael Dempsey
Address : 29 Alexis Avenue
Mount Albert, Auckland 1025
New Zealand
No. of shares : 50 Shares
% of shares : 50%
Shareholder name :
Bronwyn Ann Dempsey
Address : 29 Alexis Avenue
Mount Albert, Auckland 1025
New Zealand
No. of shares : 50 Shares
% of shares : 50%
Structure
Name : AMEX CUSTOM PRINTS LIMITED
Affiliation type :
Sister Company
Address : C/o BDS CHARTERED ACCOUNTANTS LIMITED
Level 12, 17 Albert Street
Auckland Central, Auckland 1010
New Zealand
Comments : The company is in liquidation since 10 May
2013.
Name : PRIORITY IMAGING SERVICES LIMITED
Affiliation type :
Associate
Address : 12 Central Road
Kingsland, Auckland 1021
New Zealand
Comments : The company is 50% owned by AMEX CUSTOM
PRINTS LIMITED.
Bank Details
Name of bank : ANZ Bank New Zealand Limited
Address : New Zealand
Account details :
Current Account
Comments : It is generally not the policy of local
banks to provide credit status information to
non related parties, however interested parties would be advised to
consult first
with the Subject if banker's references are required.
Mortgages : None reported.
Legal Fillings
Bankruptcy
fillings : None reported.
Court judgements :
None reported.
Tax liens : None reported.
Others : None reported.
Description
Comments : Due to the Subject’s recent date of
establishment, financial information is not
available.
Private Companies in New Zealand are not required to file accounts
unless
classified as "Large", which at the moment means that two out
of the following:
- The company has a sales turnover of over NZD 20,000,000;
- The company has total assets of over NZD 10,000,000;
- The company employs 50 people or more.
The Subject does not meet the criteria of being a large Private Company.
Main activities : The
Subject engages in import and wholesale distribution of apparels,
uniforms, workwear, sportswear etc.
In addition, the Subject provides printing and embroidery services for
clothing.
Product & services : - Apparels, uniforms, workwear, sportswear etc
- Printing and embroidery services for clothing
Purchases
International : India
Sales
Local : Yes
International : No exports.
Property & Assets
Premises : The Subject operates from
residential premises located at the verified
heading address consisting of an administrative office.
Branches : None reported.
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Reserve
Bank of New Zealand
Reserve of foreign
exchange & gold : US$ 20.562 billion
Gross domestic
product - GDP : US$ 180.548
billion
GPP (Purchasing
power parity) : 126.628
billion of International dollars
GDP per capita -
current prices : US$ 40,454
GDP - composition
by sector : agriculture:
4.7%
industry: 24%
services: 71.3%
Inflation : 2009:
2.1%
2010: 2.3%
2011: 4%
Unemployment rate
: 2009: 6.1%
2010: 6.5%
2011: 6.5%
Public debt
(General
Government gross debt as
a % GDP): 2009:
26.1%
2010: 32.3%
2011: 37%
Government bond
ratings : Standard
& Poor's: AA+/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market value of
publicly traded
shares: US$67.061
billion
Largest companies in the country : Westpac
Limited, Transpower, Fletcher Building Limited, National Bank of New Zealand,
Fonterra Co-Operative Group Ltd, Air New Zealand Limited, The Warehouse Group
Limited, Progressive Enterprises Ltd
Trade & Competitiveness Overview
Total exports : US$33.24 billion
Exports
commodities : Dairy products, meat, wood
and wood products, fish, machinery
Total imports : US$31.11 billion
Imports
commodities : Machinery and equipment,
vehicles and aircraft, petroleum, electronics,
textiles, plastics
Export - major
partners : Australia 22%, US 11.5%, Japan 9.2%, China 5.3%, UK 4.6%
Import - major partners
: Australia 20.7%, China 13.4%, US 9.7%, Japan 9.5%, Singapore 4.9%,
Germany 4.7%
FDI Inflows : 2008: US$4,598 million
2009: US$-1,293 million
2010: US$561 million
FDI Outflows : 2008: US$462 million
2009: US$-308 million
2010: US$589 million
Best countries for
doing business : 3 out of 183 countries
Global
competitiveness ranking : 25 (ranking by country on a basis of 142, the first
is the best)
Country and Population Overview
Total population :
4.37 million
Total area : 270,467 km2
Capital : Wellington
Currency : New Zealand dollars (NZD)
Internet users as
% of total
population: 83%
Purchase Term
International :
Prepayment, Telegraphic transfer
Sales Term
Local : Cash, Bank
transfer
Trade Reference/ Payment
Behaviour
Comments : As
local and international trade references were not supplied, the Subject's
payment track
record history cannot be appropriately determined but based
on our research,
payments are believed to be met without delay.
Investigation Note
Sources :
Interviews and material provided by the Subject
: Other official and local business sources
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
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|
1 |
Rs.92.25 |
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Euro |
1 |
Rs.78.38 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.