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Report Date : |
28.03.2013 |
IDENTIFICATION DETAILS
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Name : |
ARKH FOOD & SPICE LIMITED |
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Registered Office : |
Shop 2, 222 Swanson Road, Henderson, Auckland 0610 |
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Country : |
New Zealand |
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Date of Incorporation : |
09.09.2003 |
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Com. Reg. No.: |
1393289 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Retailer and distributor of Indian spices, food products,
FMCG products etc. |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No complaints |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
New Zealand |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 : ARKH
FOOD & SPICE LIMITED
Business address : Shop
2, 222 Swanson Road
Town : Henderson
Province : Auckland
Zip/postal code : 0610
Country : New
Zealand
Tel : +64
9 8367666
Fax : +64
9 8367677
Email : info@arkh.co.nz
Registered address : Shop
2, 222 Swanson Road
Town : Henderson
Province : Auckland
Zip/postal code : 0610
Country : New
Zealand
Executive Summary
Date founded or registered : 09/09/2003
Legal form : Private
Limited Company
Chief executive : Ajit
Singh
Issued & paid up capital : NZD 100
Sales turnover : NZD
3,000,000 (Estimated Non-Consolidated 12 months, 31/03/2012)
Line of business : Retailer
and distributor of Indian spices, food products, FMCG products etc.
Staff employed : 5
employees
Country risk : Country
risk is minimal
Operation trend : Operational
trend is steady
Management experience : Management
is reasonably experienced
Financial performance : Financial
performance is fair
Organization structure : Organizational
structure is stable
Detrimental : No detrimental found
Payment history : No
payment delays noted
Registry Data
Registration date : 09/09/2003
Legal form : Private
Limited Company
Registration no 1393289
Registered authority : New
Zealand Companies Office
Registry status : Live/Active
Previous name : None
reported.
Change of legal form : None
reported.
Key Management
Name : Pravin
Singh
Designation : Managing
Director
Name : Ajit
Singh
Designation : General
Manager
Appointments
Name : Hardip Kaur Singh
Designation : Director
Appointment date : 09/09/03
Address : 13 Anich Road
Massey, Auckland 0614
New Zealand
Name : Pravin Singh
Designation : Director
Appointment date : 09/09/03
Address : 13 Anich Road
Massey, Auckland 0614
New Zealand
Staff employed : 5 employees
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 : Hardip Kaur Singh
Address : 13 Anich Road
Massey, Auckland 0614
New Zealand
No. of shares : 50 Shares
% of shares : 50%
Shareholder name : Pravin Singh
Address : 13 Anich Road
Massey, Auckland 0614
New Zealand
No. of shares : 50 Shares
% of shares : 50%
Structure
Related companies and corporate
affiliations comments
: None reported.
Bank Details
Name of bank : Bank of New Zealand
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
Source of financial statement : External Sources
Financial statement date : 31/03/12
Type of accounts : Estimated
key figures
Currency : New
Zealand, Dollar (NZD)
Exchange rate : 1
USD = NZD 1.20 as of 25-03-2013
Summarized Financial Information
Consolidation type : Non
Consolidated
Currency : New
Zealand, Dollar (NZD)
Denomination : (x1)
One
Date of financial year end : 31/03/12
Length of accounts : 12
months
Sale turnover / Income : 3,000,000
Comments : 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 is engaged as a retailer and
distributor of Indian spices, food
products, Fast-moving consumer goods (FMCG) etc.
Purchases
International : Mainly from India, Fiji, Australia
Sales
Local : Yes
International : Pacific Islands
Property & Assets
Premises : The Subject operates from premises located at the
verified heading
address consisting of a administrative office and retail
supermarket
covering 1,200 square meters.
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, D/P,
Credit 30-90 days
Sales Term
Local : Cash, Credit card, Prepayment, Credit 30-90 days
International : Prepayment, Telegraphic transfer, Credit 30-90
days
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.27 |
|
|
1 |
Rs.82.49 |
|
Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
-- |
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.