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Report Date : |
08.10.2013 |
IDENTIFICATION DETAILS
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Name : |
DONAGHYS INDUSTRIES LIMITED |
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Formerly Known As : |
SHELF LEDGE NO. 18 LIMITED (until 11-12-1996) |
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Registered Office : |
Unit D, 14-16 Sheffield Crescent Burnside Christchurch 8053 |
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Country : |
New Zealand |
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Date of Incorporation : |
06.05.1988 |
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Com. Reg. No.: |
383438 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer and distributor of rope, cordage and agricultural baling products for the rural, industrial, marine and aquaculture markets |
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No. of Employees : |
100 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 : |
Satisfactory |
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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.
Source
: CIA
Verified Address
Subject name : DONAGHYS INDUSTRIES LIMITED
Business address :
Unit D, 14-16 Sheffield Crescent
Town : Burnside
Province : Christchurch
Zip/postal code : 8053
Country : New Zealand
Tel : +64 3 9834100
Fax : +64 3 9834191
Email : enquiries@donaghys.co.nz
Website : www.donaghys.com
Registered address
: Unit D, 14-16 Sheffield Crescent
Town : Burnside
Province : Christchurch
Zip/postal code : 8053
Country : New Zealand
Executive Summary
Date founded or
registered : 06/05/1988
Legal form : Private Limited
Company
Chief executive : Jeremy Adrian Silva
Issued & paid
up capital : NZD 4,000,000
Sales turnover : NZD 50,000,000
(Estimated Non-Consolidated 12 months, 30/06/2012)
Line of business :
Manufacturer and
distributor of rope, cordage and agricultural baling products.
Staff employed : 100 employees
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is steady
Management
experience : Management is adequately experienced
Financial
performance : Financial performance is good
Organisation
structure : Organisational structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date
: 06/05/1988
Legal form : Private Limited
Company
Registration no 383438
Registered
authority : New Zealand Companies
Office
Registry status : Live/Active
Previous name : SHELF LEDGE NO. 18
LIMITED (until 11-12-1996)
Change of legal
form : None reported.
Key Management
Name : Jeremy Adrian Silva
Designation : Managing Director
Name : David Hamish Beattie
Designation : General Manager, Finance
Appointments
Name : David Hamish Beattie
Designation : Director
Appointment date :
14/02/05
Address : 3 Glenwood Drive
Prebbleton, Canterbury 7604
New Zealand
Name : Andrew Keith Horsbrugh
Designation : Director
Appointment date :
02/09/03
Address : West Melton Road, Rd 5
West Melton, Christchurch
New Zealand
Name : Jeremy Adrian Silva
Designation : Director
Appointment date :
02/09/03
Address : Curraghs Road, Rd 1
West Melton, Christchurch
New Zealand
Staff employed :
100 employees
Composition
Authorized Capital
: NZD 4,000,000
No of shares : 4,000,000 Shares
Share par value : NZD 1
Issued capital : NZD 4,000,000
Paid up capital : NZD 4,000,000
How listed : Full List
Composition
Shareholder name :
DONAGHYS LIMITED
Address : Unit D, 14-16 Sheffield
Crescent
Burnside, Christchurch 8053
New Zealand
No. of shares : 4,000,000 Shares
% of shares : 100%
Structure
Name : DONAGHYS LIMITED
Affiliation type :
Parent Company
Address : Unit D, 14-16 Sheffield
Crescent
Burnside, Christchurch 8053
New Zealand
Name : DONAGHYS INTERNATIONAL
LIMITED
Affiliation type : Sister Company
Address : Unit D, 14-16 Sheffield
Crescent
Burnside, Christchurch 8053
New Zealand
Name : DONAGHYS AUSTRALIA PTY.
LTD.
Affiliation type :
Sister Company
Address : Bradbury, NSW 2560
Australia
Name : DONAGHYS PTY LIMITED
Affiliation type :
Sister Company
Address : Bradbury, NSW 2560
Australia
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 : Provided by the
Subject
Financial statement
date : 30/06/12
Type of accounts :
Estimated key figures
Currency : New Zealand,
Dollar (NZD)
Exchange rate : 1 USD = NZD 1.29 as of
25-06-2013
Summarized Financial Information
Consolidation type
: Non Consolidated
Currency : New Zealand, Dollar (NZD)
Denomination : (x1) One
Date of financial
year end : 30/06/12
Length of accounts
: 12 months
Sale turnover /
Income : 50,000,000
Comments : The estimated turnover was
provided by Mr. David Hamish Beattie.
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 and distributor of rope, cordage and
agricultural baling products for the rural, industrial, marine and
aquaculture
markets.
Product &
services : - Animal & Plant
Management
- Feed Conservation
- Horticulture / Viticulture
- Rope & Cordage
Purchases
International : Worldwide
Sales
Local : Yes
International : North America, South America,
Asia, Europe, Australia
Property & Assets
Premises : The Subject operates from
premises at the verified heading address
consisting of an administrative office.
Branches : In addition, the Subject operates
from production facility located at:
63 Bradshaw Street
South Dunedin, Dunedin 9012
New Zealand
+64 3 4551189
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
Local : Bank transfer, D/P, Credit 30-90
days
International : L/C, Telegraphic transfer, D/P, Credit 30-90
days
Sales Term
Local : Bank transfer, D/P, Credit 30-90
days
International : L/C, 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
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Indian Rupees |
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US Dollar |
1 |
Rs.61.78 |
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|
1 |
Rs.99.06 |
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Euro |
1 |
Rs.83.84 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
RATING EXPLANATIONS
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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.