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Report Date : |
09.04.2014 |
IDENTIFICATION DETAILS
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Name : |
HYGRADE
PRODUCTS LIMITED |
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Formerly Known As : |
HY-GRADE
CASTINGS LIMITED |
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Registered Office : |
C/o SIMPSON
GRIERSON LIMITED Level 27, Lumley
Centre 88 Shortland Street Auckland Central |
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Country : |
New Zealand |
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Date of Incorporation : |
29.08.1995 |
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Com. Reg. No.: |
691123 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Import, fabrication
and distribution of watermain, drainage, streetware and hardware products |
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No. of Employees |
19 |
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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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 pulled out of recession late in 2009, and achieved 2-3% per year growth in 2010-13. 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 |
Subject name :
HYGRADE PRODUCTS LIMITED
Business
address : 667B Great South Road
Town : Penrose
Province : Auckland
Zip/postal code : 1061
Country : New Zealand
Tel : +64 9 5794690
Fax : +64 9 5710508
Email : sales@hygrade.net.nz
Website : www.hygrade.net.nz
Office Address
: P.O Box 58 142 Greenmount
Manukau City 2141,
Auckland 5
New Zealand
Registered
address : C/o SIMPSON GRIERSON LIMITED
Level 27, Lumley Centre
88 Shortland Street
Town : Auckland Central
Province : Auckland
Zip/postal code : 1010
Country : New Zealand
Postal address : P.O. Box 58 142
Town : Botany
Province : Auckland
Zip/postal code : 2163
Country : New Zealand
Executive Summary
Date founded
or registered : 29/08/1995
Legal form : Private Limited Company
Chief
executive : Steve
Thompson
Issued &
paid up capital : NZD 21,000
Line of
business : Import,
fabrication and distribution of watermain, drainage, streetware and
hardware products.
Staff employed
: 19 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 undetermined
Organization
structure : Organizational
structure is stable
Detrimental : No
detrimental found
Payment
history : No payment
delays noted
Registry Data
Registration
date : 29/08/1995
Legal form : Private Limited
Company
Registration
no 691123
Registered
authority : New Zealand
Companies Office
Fiscal/ Tax no
: 9429038435782
Registry
status : Live/Active
Previous name
: HY-GRADE CASTINGS
LIMITED (until 11-07-2001)
Change of
legal form : None reported.
Key Management
Name : Steve Thompson
Designation : General Manager
Appointments
Name : Adrian
David Hynds
Designation : Director
Appointment date
: 11/03/04
Address : 30 Selwyn Avenue
Mission Bay, Auckland 1071
New Zealand
Name : John Revell Hynds
Designation : Director
Appointment
date : 29/08/95
Address : Flat 11, Shangri La
Apartments
97 Jervois Road
Herne Bay, Auckland 1011
New Zealand
Staff employed
: 19 employees
Composition
Authorized
Capital : NZD 21,000
No of shares :
21,000 Shares
Share par
value : NZD 1
Issued capital
: NZD 21,000
Paid up
capital : NZD 21,000
How listed : Full
List
Composition
Shareholder
name : HYNDS LIMITED
Address : 25 Arwen Place
East Tamaki, Auckland 2013
New Zealand
No. of shares
: 21,000 Shares
% of shares : 100%
Structure
Name : HYNDS LIMITED
Affiliation
type : Parent Company
Address : 25 Arwen Place
East Tamaki, Auckland 2013
New Zealand
Name : HYNDS PIPE SYSTEMS LIMITED
Affiliation
type : Sister Company
Address : 25 Arwen Place
East Tamaki, Auckland 2013
New Zealand
Name : GILLIES METALTECH LIMITED
Affiliation
type : Sister Company
Address : 28 Tyne Street
South Hill, Oamaru 9400
New Zealand
Name : WATERS & FARR LIMITED
Affiliation
type : Sister Company
Address : 105 Neilson Street
Onehunga, Auckland 1061
New Zealand
Name : HYNDS ENVIRONMENTAL SYSTEMS LIMITED
Affiliation
type : Sister Company
Address : 25 Arwen Place
East Tamaki, Auckland 2013
New Zealand
Related
companies and corporate affiliations comments
: Other
companies of the Hynds Group should be considered affiliates of the
Bank Details
Name of bank :
ANZ Bank 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 bankers 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 Mr. Steve
Thompson 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
three conditions are met:
- 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.
Main
activities : The Subject engages in import, fabrication and distribution of
watermain,
drainage, streetware and hardware products.
Product & services : Valves and Hydrants
Couplings
Electrofusion and Buttweld
Ductile Iron Pipe
Ductile Iron Fittings
Brass Fittings
Repair Clamps
Watermain Accessories
Pipe Spacers
Control Valves
Pipe Bellows
Stainless Steel Inserts
Drainage Products:
Surface Drainage
Plastic Manholes, Access Chambers & Tanks
Pipe Couplings
Clay (Earthenware) Pipe
Filters
Plastic (PE & PVC) Fittings & Connectors
Drainage Accessories
Non-return (Reflux) Valves
Pump Stations
Streetware Products:
Ductile Iron Manhole Covers
Ductile Iron Sump & Trench Grates
Galvanised Mild Steel Grate and Frame
Cast Iron Access Covers, Grates & Surface Boxes
Manhole Accessories
Hardware Products:
Pipeline Testing
Dechlorination
Pipe Lubricants, Epoxy and Marker Paints
Road Markings
Speciality Tools & Accessories
Fabrication Products:
Pipe (PE & PVC) Fittings
Plastic Manholes and Chambers
Purchases
International
: India, Germany, Australia, China, United Kingdom, United States, Austria
Sales
Local : Yes
International
: No exports.
Property & Assets
Premises : The Subject operates from premises at the
verified heading address
consisting of a fabrication facility, warehouse and an administrative
office.
Branches : In addition, the Subject operates from
warehouses located at:
33 Bouverie Street
Petone, Lower Hutt 5012
New Zealand
58 Hickory Place
Islington, Christchurch 8042
New Zealand
28 Tyne Street
South Hill, Oamaru 9400
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
& Poors: AA+/Stable/A-1+
Moodys rating: Aaa
Moodys 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
page 11 / 13
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, Prepayment, D/P, Credit 30-90 days
Sales Term
Local : Bank
transfer, Prepayment, Credit 30-90 days
Trade Reference/ Payment
Behaviour
Comments : As
local and international trade references were not supplied, the Subjects
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 |
|
US Dollar |
1 |
Rs.59.95 |
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|
1 |
Rs.99.36 |
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Euro |
1 |
Rs.82.15 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.