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Report Date : |
17.05.2013 |
IDENTIFICATION DETAILS
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Name : |
AEROQUAL LIMITED |
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Registered Office : |
109 Valley
Road, Mount Eden, Auckland 1024 |
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Country : |
New Zealand |
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Date of Incorporation : |
10.01.2001 |
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Com. Reg. No.: |
1109329 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Manufacturer
of air quality monitoring products for industrial, indoor and outdoor applications. |
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No. of Employees : |
20 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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.
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Source : CIA |
Verified Address
Subject name :
AEROQUAL LIMITED
Business
address : 109 Valley Road
Town : Mount Eden
Province : Auckland
Zip/postal
code : 1024
Country : New Zealand
Tel : +64 9 6233013
Fax : +64 9 6233012
Email : technical@aeroqual.com
Website : www.aeroqual.com
Registered
address : 109 Valley Road
Town : Mount Eden
Province : Auckland
Zip/postal
code : 1024
Country : New Zealand
Executive Summary
Date founded
or registered : 10/01/2001
Legal form : Private Limited
Company
Chief
executive : Mark
William Templeton
Issued & paid
up capital : NZD 2,304,518.44
Sales turnover
: NZD 3,000,000
(Estimated Non-Consolidated 12 months, 31/03/2013)
Line of
business : Manufacturer
of air quality monitoring products for industrial, indoor and outdoor
applications.
Staff employed
: 20 employees
Company Analysis
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
Credit amount
asked : Not described.
Registry Data
Registration
date : 10/01/2001
Legal form : Private Limited Company
Registration
no 1109329
Registered
authority : New Zealand Companies
Office
Registry
status : Live/Active
Previous name
: None reported.
Change of
legal form : None reported.
Key Management
Name : Mark William Templeton
Designation : Chief Executive Officer
Name : Colette Thorpe-McWatters
Designation : Financial Controller
Appointments
Name : Ian Duncan Chrisp
Designation : Director
Appointment
date : 27/10/04
Address : 66 Pokare Road, Rd 6
Pukehina 3186
New Zealand
Name : Colin Dean Christie
Designation : Director
Appointment
date : 27/10/04
Address : 1 Belgium Terrace
Mangapapa, Gisborne 4010
New Zealand
Name : Noel Davies
Designation : Director
Appointment
date : 26/11/12
Address : 8 Awatea Road
Parnell, Auckland 1052
New Zealand
Name : Bruce McCallum
Designation : Director
Appointment
date : 21/01/13
Address : 113 Ahiaruhe Road, Rd 2
Ahiaruhe 5792
New Zealand
Name : Mark William Templeton
Designation : Director
Appointment
date : 01/01/11
Address : 334F Redoubt Road
Totara Park, Auckland 2016
New Zealand
Staff employed : 20
employees
Composition
Authorized
Capital : NZD 5,197,747.52
No of shares :
230,451,844 Shares
Share par
value : No par value
Issued capital
: NZD 5,197,747.52
Paid up capital : NZD 5,197,747.52
How listed : Major Shareholders Only
Composition
Shareholder
name : Jointly held by Michael
Patrick Eivers, Phillida Anne Eivers & Colin Christie
Address : Michael Patrick Eivers,
Phillida Anne Eivers
36 Sirrah Street
Okitu, Gisborne 4010
New Zealand
Colin Christie
C/o BDO GISBORNE LIMITED
1 Peel Street
Gisborne Central, Gisborne 4010
New Zealand
No. of shares : 48,416, 552 Shares
% of shares : 21.01%
Shareholder
name : Jointly held by Amanda Chrisp
& Colin Christie
Address : Amanda Chrisp
66 Pokare Road, Rd 6
Pukehina 3186
New Zealand
Colin Christie
C/o BDO GISBORNE LIMITED
1 Peel Street
Gisborne Central, Gisborne 4010
New Zealand
No. of shares : 43,925,988 Shares
% of shares : 19.06%
Shareholder
name : Jointly held by David Brett
Wells, Alison Moira Andrew, John Mark Trevelyn Wells
& Peter John Andrew
Address : David Brett Wells, Alison
Moira Andrew, John Mark Trevelyn Wells & Peter John
Andrew
1 Norana Avenue
Remuera, Auckland 1050
New Zealand
No. of shares : 29,448,269 Shares
% of shares : 12.78%
Shareholder
name : James Nelson Marcus Williams
Address : C/o BDO GISBORNE LIMITED
1 Peel Street
Gisborne Central, Gisborne 4010
New Zealand
No. of shares : 22,067,018 Shares
% of shares : 9.58%
Shareholder
name : HG MANAGEMENT NZ LIMITED
Address : 4/20 Platina Street
Remuera, Auckland 1050
New Zealand
No. of shares : 15,641,279 Shares
% of shares : 6.79%
Ownership / Shareholding comment :
The Subject is
100% owned by 37 shareholders including the above mentioned major shareholders.
Structure
Related companies and corporate affiliations comments None reported.
Bank Details
Name of bank :
Westpac 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
Source of
financial statement : Provided by the
Subject
Financial
statement date : 31/03/13
Type of
accounts : Estimated
key figures
Currency : New Zealand,
Dollar (NZD)
Exchange rate
: 1 USD = NZD 1.21
as of 13-05-2013
Summarized
Financial Information
Consolidation
type : Non Consolidated
Currency : New Zealand, Dollar
(NZD)
Denomination :
(x1) One
Date of
financial year end : 31/03/13
Length of
accounts : 12 months
Sale turnover
/ Income : 3,000,000
Comments : The estimated
turnover was provided by Ms. Colette Thorpe –McWatters.
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 as manufacturer of air quality monitoring products for
industrial, indoor and outdoor applications.
The Subject primarily uses Gas Sensitive Semi-conductor (GSS)
sensor
technology because of it's quick response, long life, wide
operating
temperatures and sensitivity. GSS technology is a combination of
smart
measurement techniques and mixed metal oxide semiconductor sensors
that exhibit an electrical resistance change in the presence of a
target gas.
Product & services : Indoor & Industrial Air Monitors
Outdoor Air Quality Monitors
Ozone Monitors & Controllers
Brand : AEROQUAL
Purchases
International : China,
Hong Kong, United States, France, Canada, Australia, Singapore, United Kingdom
Sales
Local : Yes
International
: Worldwide
Property &
Assets
Premises : The Subject operates from premises
at the verified heading address
consisting of a production facility, warehouse and 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,
Bank transfer, D/P, Credit 30-90 days
Sales Term
Local : Prepayment,
Bank transfer, D/P, Credit 30-90 days
International
: Prepayment,
Telegraphic transfer, D/P, 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.54.77 |
|
UK Pound |
1 |
Rs.83.31 |
|
Euro |
1 |
Rs.70.46 |
INFORMATION DETAILS
|
Report Prepared by
: |
NIT |
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 |
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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.