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Report Date : |
17.10.2013 |
IDENTIFICATION DETAILS
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Name : |
SEGARD MASUREL (NZ) LIMITED |
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Registered Office : |
Level 9,
Psis House |
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Country : |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
30.11.1965 |
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Com. Reg. No.: |
18188 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Subject engages
in purchasing, marketing and export of wool. |
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No. of Employees : |
09 |
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 :
SEGARD MASUREL
(NZ) LIMITED
Business
address : Level 9, PSIS
House
20-26 Ballance Street
Town : Wellington
Central
Province : Wellington
Zip/postal
code : 6011
Country : New Zealand
Tel : +64 4
4723596
Fax : +64 4
4739727
Email : wool@masureldirect.co.nz
Website : www.segardmasurel.co.nz
Registered
address : Level 9, PSIS
House
20-26 Ballance Street
Town : Wellington
Central
Province : Wellington
Zip/postal
code : 6011
Country : New Zealand
Postal address
: P.O. Box 3473
Town : Wellington
Central
Province : Wellington
Zip/postal
code : 6140
Country : New Zealand
Executive Summary
Date founded
or registered : 30/11/1965
Legal form : Private Limited
Company
Chief
executive : Peter J
Whiteman
Issued &
paid up capital : NZD 1,805,500
Sales turnover
: NZD 197,560,000 (Consolidated 12 months, 30/06/2011)
Net income : NZD 2,817,000
(Consolidated 12 months, 30/06/2011)
Total fixed
assets : NZD
78,757,000 (Consolidated 12 months, 30/06/2011)
Line of
business : Purchasing,
marketing and export of wool.
Staff employed
: 9 employees
(Subject)
Country risk :
Country risk
is minimal
Operation
trend : Operational
trend is steady
Management
experience : Management is
adequately experienced
Financial
performance : Financial
performance is good
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 : 30/11/1965
Legal form : Private Limited
Company
Registration
no 18188
Registered
authority : New Zealand
Companies Office
Registry
status :
Live/Active
Previous name
: The Subject was
established under the name MASUREL FILS NZ LIMITED and
changed its name to the current style
on 31-10-2005.
Change of
legal form : None
reported.
Key Management
Name : Peter J Whiteman
Designation : Managing Director
Appointments
Name : Glenn Speight
Designation : Director
Appointment
date : 24/11/92
Address : 5 Ocean Road
Paekakariki, Wellington 5034
New Zealand
Name : Peter J Whiteman
Designation : Director
Appointment
date : 28/02/97
Address : 11 Fitzroy Street
Wadestown, Wellington 6012
New Zealand
Staff employed
: 9 employees (Subject)
Key Advisors
Auditors : PRICEWATERHOUSECOOPERS
113-119, The Terrace
Wellington 6011
New Zealand
Composition
Authorized
Capital : NZD 1,805,500
No of shares :
1,805,500 Shares
Share par
value : NZD 1
Issued capital
: NZD 1,805,500
Paid up
capital : NZD 1,805,500
How listed
: Full List
Composition
Shareholder
name : SEGARD MASUREL S.A.
Address : 38 Rue Faidherbe
59200 Tourcoing
France
No. of shares
: 1,805,500 Shares
% of shares : 100%
Structure
Name : SEGARD MASUREL S.A.
Affiliation
type : Parent Company
Address : 38 Rue Faidherbe
59200 Tourcoing
France
Name : GRAMPIAN PROPERTIES PTY
LTD
Affiliation type : Wholly-owned
Subsidiary
Address : Unit 9, 42-46 Vella Drive
Sunshine, VIC 3020
Australia
Comments : Property ownership for use by
the group.
Name : GRAMPIAN WOOLS
(AUSTRALIA) PTY LTD
Affiliation
type : Wholly-owned
Subsidiary
Address : Unit 9, 42-46 Vella Drive
Sunshine, VIC 3020
Australia
Comments : Wool trading.
Name : SEGARD MASUREL
(AUSTRALIA) PTY LTD
Affiliation
type : Wholly-owned
Subsidiary
Address : Unit 9, 42-46 Vella Drive
Sunshine, VIC 3020
Australia
Comments : Wool trading.
Name : SEGARD MASUREL SOUTH
AFRICA (PTY) LTD
Affiliation
type : Sister Company
Address : 4 Bedford Street, Neave
Industrial Area
Port Elizabeth 6001
South Africa
Related companies and corporate
affiliations comments :
Other companies of the Segard Masurel Group should be considered
affiliated
companies of the Subject.
Bank Details
Name of bank :
ANZ National Bank
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 : Commercial
Registry Filings
Financial
statement date : 30/06/11
Type of
accounts : Full
audited
Currency : New Zealand,
Dollar (NZD)
Exchange rate
: 1 USD = NZD 1.20
Summarized Financial Information
Consolidation type : Consolidated Consolidated
Currency : New Zealand, Dollar New
Zealand, Dollar
(NZD) (NZD)
Denomination : (x1) One (x1)
One
Date of financial year end : 30/06/11 30/06/10
Length of accounts : 12 months 12 months
Gross profit :
10,071,000 9,464,000
Profit before
tax : 4,159,000 4,309,000
Net income : 2,817,000 3,023,000
Non current
assets : 2,141,000 2,712,000
Current assets
: 76,616,000 58,609,000
Inventories : 30,995,000 22,237,000
Total assets : 78,757,000 61,321,000
Current
liabilities : 59,680,000
43,803,000
Non current
liabilities : 26,000 137,000
Total
liabilities : 59,706,000
43,940,000
Share equity :
19,051,000 17,381,000
Reserve : 237,000 8,000
Retained
earning : 15,203,000 13,762,000
Comments : The consolidated
financial information above relates to the Subject and its
subsidiaries.
Main
activities : The
Subject engages in purchasing, marketing and export of wool.
The Subject is part of the Segard
Masurel Group. Since 1906, the Segard
Masurel Group has been involved in the New Zealand wool industry, as
well as establishing operations in Australia, Belgium, France, South
Africa.
Product &
services : Wool
Purchases
Local : Yes
Sales
International
: Worldwide
Property & Assets
Premises : The Subject operates from
premises located at the verified heading
address consisting of an administrative
office.
Branches : None reported.
Other property
: Total NBV of property, plant
and equipment as of 30-06-2011 was NZD
1,878,000.
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 : Prepayment, Telegraphic transfer,
Credit 30-120 days
Sales Term
International
: L/C, Prepayment, Telegraphic
transfer, D/P, Credit 30-120 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.61.69 |
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|
1 |
Rs.98.59 |
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Euro |
1 |
Rs.83.67 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
-- |
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.