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Report Date : |
31.10.2013 |
IDENTIFICATION DETAILS
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Name : |
FERO LIMITED |
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Registered Office : |
Level 1, |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
03.07.2001 |
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Com. Reg. No.: |
1147982 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Import, manufacturing
and sales of electronic components and wire products. |
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No. of Employees : |
50 |
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 – March 31st, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 |
Over the past 20 years the government has transformed
Source
: CIA
Verified Address
Subject name :
FERO LIMITED
Business
address : 4 Rakino Way
Town : Mount Wellington
Province : Auckland
Zip/postal
code : 1072
Country : New Zealand
Tel : +64 9 2740104
Fax : +64 9 2709493
Email : info@fero.co.nz
Website : www.fero.co.nz
Registered
address : C/o KINGSTONE COX CHARTERED
ACCOUNTANTS LIMITED
Level 1,
Town : Parnell
Province :
Zip/postal code : 1052
Country :
Postal address
:
Town : Botany
Province : Manukau
Zip/postal
code : 2163
Country :
Executive Summary
Date founded
or registered :
03/07/2001
Legal form : Private
Limited Company
Chief
executive : Gregory
Robert Fulton
Issued &
paid up capital : NZD
10,000
Sales turnover
: NZD 8,000,000
(Estimated Non-Consolidated 12 months, 31/03/2013)
Line of business : Import,
manufacturing and sales of electronic components and wire products.
Staff employed
: 50
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
Credit amount
asked : Not described.
Registry Data
Registration
date : 03/07/2001
Legal form : Private Limited Company
Registration
no 1147982
Registered
authority : New Zealand Companies
Office
Registry
status : Live/Active
Previous name
: TRADETECH NEW ZEALAND LIMITED
(until 06-10-2011)
TRADE TECH NEW ZEALAND LIMITED (until 13-07-2007)
TRADE-TECH NEW ZEALAND LIMITED (until 02-10-2006)
TRADE-TECH COMPONENTS LIMITED (until 06-07-2001)
Change of
legal form : None reported.
Key Management
Name : Gregory Robert Fulton
Designation : Managing Director
Name : Samuel Don Fulton
Designation : Business Development Manager
Name : Tom Knight
Designation : Engineering Manager
Name : May Loh
Designation : Purchasing Manager
Appointments
Name : Gregory Robert Fulton
Designation : Director
Appointment
date : 03/07/01
Address : 445 Riddell Road
Glendowie, Auckland 1071
New Zealand
Name : Samuel Don Fulton
Designation : Director
Appointment
date : 30/04/12
Address : 2 Anglesea Street
Freemans Bay, Auckland 1011
New Zealand
Staff employed
: 50 employees
Composition
Authorized
Capital : NZD 10,000
No of shares :
10,000 Shares
Share par
value : NZD 1
Issued capital
: NZD 10,000
Paid up
capital : NZD 10,000
How listed : Full List
Composition
Shareholder
name : Jointly held by Gregory
Robert Fulton, Vicki Anne Fulton & Lloyd Lamberg
Address : Gregory Robert Fulton
& Vicki Anne Fulton
445 Riddell Road
Glendowie, Auckland 1071
New Zealand
Lloyd Lamberg
24 Karori Crescent
Orakei, Auckland 1071
New Zealand
No. of shares
: 9,900 Shares
Shareholder
name : Gregory Robert Fulton
Address : 445 Riddell Road
Glendowie, Auckland 1071
New Zealand
No. of shares
: 100 Shares
Structure
Name : WIRE SOLUTIONS LIMITED
Affiliation
type : Sister Company
Address : 4 Rakino Way
Mount Wellington, Auckland 1072
New Zealand
Name : RAKINO
PROPERTIES LIMITED
Affiliation
type : Associate
Address : 4 Rakino Way
Mount Wellington, Auckland 1072
New Zealand
Bank Details
Name of bank :
ASB Bank 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 : N ew Zealand, Dollar
(NZD)
Exchange rate
: 1 USD = NZD 1.21
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 : 8,000,000
Comments : The estimated turnover was
provided by Ms. Rachel Rogers.
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 in import, manufacturing and sales of electronic
components and wire products.
The Subject's operations comprises of two divisions; manufacturing
&
electronic.
Electronic Division;
To supply components and production solutions to the manufacturing
industry.
Manufacturing Division;
Manufactures and imports powerleads, wire harnesses, wire sets and
cable
assemblies.
Product &
services : Power Electronics
Production Solutions
Opto Electronics
Connectors
Embedded & Wireless
Off-shore Manufacturing & Supply
Custom Manufacturing
Custom Assembly
Low Pressure Molding
Brand : FERO
Purchases
International
: Hong Kong, Taiwan, China
Sales
Local : Yes
International
: Australia
Property & Assets
Premises : The Subject operates from the verified
heading address consisting of a
production facility, warehouse and an
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
: Telegraphic transfer,
D/P, Credit 30-90 days
Sales Term
Local : Bank transfer,
Prepayment, D/P, Credit 30-90 days
International
: 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.49 |
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1 |
Rs.98.71 |
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Euro |
1 |
Rs.84.49 |
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 |
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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.