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Report Date : |
30.11.2013 |
IDENTIFICATION DETAILS
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Name : |
GENERAL ISSUE LIMITED |
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Registered Office : |
26 Arthur Street, Freemans
Bay, Auckland, Zip/postal code 1011 |
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Country : |
New Zealand |
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Date of Incorporation : |
27.03.2007 |
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Com. Reg. No.: |
1926334 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Retailer of men and women's apparel
under the brand name GENERAL ISSUE. |
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No. of Employees : |
30 |
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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.
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Source : CIA |
Verified Address
Subject name : GENERAL ISSUE LIMITED
Business address : 17 Greenpark Road
Town : Penrose
Province : Auckland
Zip/postal code : 1061
Country : New Zealand
Tel : +64 9 5202943
Fax : +64 9 5202944
Email : lisel@apparelbrands.co.nz
Registered address : 26 Arthur Street
Town : Freemans Bay
Province : Auckland
Zip/postal code : 1011
Country : New Zealand
Executive Summary
Date founded or registered : 27/03/2007
Legal form : Private Limited
Company
Chief executive : Benjamin Lawrence Nathan
Issued & paid up capital
: NZD 100
Line of business : Retailer of men and
women's apparel under the brand name GENERAL ISSUE.
Staff employed : 30 employees
ARY DETAILS
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
steady
Management experience : Management is modestly experienced
Financial performance : Financial performance is
undetermined
Organization structure : Organizational structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date : 27/03/2007
Legal form : Private Limited Company
Registration no 1926334
Registered authority : New Zealand Companies Office
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Benjamin Lawrence
Nathan
Designation : Managing Director
Name : Lisel Du Toit
Designation : Accounting Manager
Appointments
Name : Peter James-Alternate
Murphy
Designation : Director
Appointment date : 19/10/09
Address : 26 Arthur Street
Freemans
Bay, Auckland 1011
New
Zealand
Name : Benjamin Lawrence
Nathan
Designation : Director
Appointment date : 27/03/07
Address : 59 Arney Road
Remuera,
Auckland 1050
New
Zealand
Staff employed : 30 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
Composition
How listed : Full List
Composition
Shareholder name : PENGUIN NOMINEES LIMITED
Address : 26 Arthur Street
Freemans
Bay, Auckland 1011
New
Zealand
No. of shares : 100 Shares
% of shares : 100%
Structure
Name : PENGUIN NOMINEES LIMITED
Affiliation type : Parent
Company
Address : 26 Arthur Street
Freemans
Bay, Auckland 1011
New
Zealand
Name : ATLANTIC APPAREL LIMITED
Affiliation type : Sister
Company
Address : 17 Greenpark Road
Penrose,
Auckland 1061
New
Zealand
Name : ANSKI PROPERTIES LIMITED
Affiliation type : Sister
Company
Address : 26 Arthur Street
Freemans
Bay, Auckland 1011
New
Zealand
Name : 17 GREENPARK LIMITED
Affiliation type : Sister Company
Address : 26 Arthur Street
Freemans Bay, Auckland
1011
New Zealand
Name : V.F.C.
LIMITED
Affiliation type : Sister Company
Address : 26 Arthur Street
Freemans Bay, Auckland
1011
New Zealand
Related
companies and corporate affiliations comments
Other companies of the Penguin Nominees Group
should be considered affiliates of the Subject.
Bank Details
Name of bank : ASB Bank 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
Comments : The representative contacted
Ms. Lisel Du Toit declined to provide any financial
information until the inquiring party details
are revealed.
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.
OPERATION DETAILS
Main activities : The Subject operates as a retailer
of men's and women's apparels under
the brand name GENERAL ISSUE.
Product & services : Fashion apparels
Brand : GENERAL ISSUE
Purchases
International : India, China, United States
Sales
Local : Yes
International : No exports.
Property &
Assets
Premises : The Subject operates from the
verified heading address consisting of a
warehouse and an administrative office.
Branches : In addition, the Subject
operates from 7 retail stores under the brand name
GENERAL ISSUE in New Zealand.
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 : Telegraphic transfer, D/P,
Credit 30-60 days
Sales Term
Local : Cash, Credit card
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.62.39 |
|
UK Pound |
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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.