MIRA INFORM REPORT

 

 

Report Date :

19.08.2014              

 

IDENTIFICATION DETAILS

 

Name :

NU-BRANDS LIMITED

 

 

Registered Office :

Level 1, 25 Allen Street, Morrinsville, Waikato 3300

 

 

Country :

New Zealand

 

 

Date of Incorporation :

21.02.2014

 

 

Com. Reg. No.:

4986000

 

 

Legal Form :

New Zealand Limited Company

 

 

Line of Business :

Engages in exporting New Zealand natural products under the brand name NU.

 

 

No. of Employees :

3

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

 

--

NB

New Business

--

 

Status :

New Business 

 

 

Payment Behaviour :

No complaints 

 

 

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 – June 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

New Zealand

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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

Source : CIA

 

 

 

 

CORPORATE DETAILS

 

Verified Address

 

Subject name
NU-BRANDS LIMITED
Business address
78 Studholme Street
Town
Morrinsville
Province
Waikato
Zip / Postal code
3300
Country
New Zealand
Telephone
+64 7 8897025
Fax
+64 7 8893295
Email
trevor@nubrand.co.nz

 

Registered address
Level 1, 25 Allen Street
Town
Morrinsville
Province
Waikato
Zip / Postal code
3300
Country
New Zealand

 

 

 

+ SUMMARY DETAILS

 

Report Summary

 

Date registered
21/02/2014
Legal form
New Zealand Limited Company
Key personnel
Trevor James Lock
Line of business
The Subject’s business consist of exporting New Zealand natural products under the brand name NU.
Staff employed
3 employees

Paid-up capital
NZD10,000.00

 

 

 

+ CREDIT RISK OUTLOOK

 

Credit Risk Interpretation

 

Credit risk theory
Some indications of financial and operational stress. More caution is recommended when considering granting credit. Smaller credits plus loan guarantees is an advantage. A strict credit control policy applies.
Paid-up capital
NZD10,000.00

 

 

Description: passable.png

 

Subject’s Credit Risk Analysis

 

Country risk
Country risk is minimal
Operation trend
Operational trend is in start-up phase
Management experience
Management is inadequately experienced
Financial performance
Financial performance is poor

 

Organisation structure
Organisational structure is acceptable
Detrimental
No detrimental found
Payment history
No payment delays noted.
Credit amount suggestion
Fully secured terms.

 

 

+ STATUTORY DETAILS

 

Registry Information

 

Date registered
21/02/2014
Legal form
New Zealand Limited Company
Registration number
4986000
Registered authority
The Companies Office
Tax / VAT number
9429041107461

 

Statutory status
Active
Previous name
None reported.
Change of legal form
None reported.

 

 

 

+ BOARD OF MANAGEMENT

 

Key Personnel

 

Name
Trevor James Lock
Designation
Managing Director

 

 

 

+BOARD OF DIRECTORS

 

Appointments

 

Name
Trevor James Lock
Title
Director
Appointment date
21/02/14
Address
5 Elm Street
Morrinsville, Waikato 3300
New Zealand

Staff employed
3 employees

 

 

+ SHARE CAPITAL

 

Composition

 

Authorized capital
NZD10,000.00
Number / Type of shares
10,000 Ordinary Shares
Share par value
NZD1.00
Issued capital
NZD10,000.00

Paid-up capital
NZD10,000.00

 

 

+ OWNERSHIP / SHAREHOLDERS

 

Composition

 

How listed
Full list
Shareholder name
Trevor James Lock
Address
5 Elm Street
Morrinsville, Waikato 3300
New Zealand
Number / Type of shares
10,000 Ordinary Shares
Percentage (%) of shares
100%

 

 

 

 

+ CORPORATE AFFILIATIONS AND RELATED COMPANIES

 

Structure

 

Company name
NUBIOTICS NUTRITIONALS LIMITED
Affiliation type
Subsidiary
Country of business
New Zealand
Company name
ELM TRUSTEES LIMITED
Affiliation type
Associate
Company name
NUBIOTICS LIMITED
Affiliation type
Associate
Company name
DUMPERS BEACH TRUSTEES LIMITED
Affiliation type
Associate
Country of business
New Zealand

 

 

+ BANK AND MORTGAGES

 

Bank Details

 

Name of bank
ASB Bank New Zealand
Address
New Zealand

 

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 Filings

 

Bankruptcy filings
None reported.
Court judgements
None reported.

Tax liens
None reported.
Others
None reported.

 

 

+ FINANCIAL STATISTICS

 

Remarks

 

As the Subject is a newly established entity, financial statement is not made available.

The representative contacted Mr. Trevor James Lock advised that the Subject's monthly turnover is estimated at NZD 250,000.

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.

 

 

+ BUSINESS DETAILS

 

Operational Details

 

Main activities
The Subject engages in exporting New Zealand natural products under the brand name NU.

 

 

Purchases

 

Local
The Subject sources its product(s) / material(s) locally.

International
None reported.

 

Sales

 

Local
None reported.

International
The Subject exports its product(s) to countries such as United States, Russia, Middle East.

 

Business Facilities and Assets

 

Premises
The Subject operates from the verified heading address consisting of an administrative office.

 

Branches
None reported.

 

 

 

+ SUMMARIZED COUNTRY RISK

 

Gross Domestic Products (GDP) and Economic Overview

 

Central bank
Reserve Bank of New Zealand
Reserve of foreign exchange and gold
US$ 20.562 billion
Gross domestic product (GDP)
US$ 180.548 billion
Purchasing power parity (GPP)
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 percentage (%) of 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
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 and Competitiveness Overview

 

Total exports
US$33.24 billion
Export commodities
Dairy products, meat, wood and wood products, fish, machinery
Total imports
US$31.11 billion
Import commodities
Machinery and equipment, vehicles and aircraft, petroleum, electronics, textiles, plastics
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)

Major export partners
Australia 22%, US 11.5%, Japan 9.2%, China 5.3%, UK 4.6%
Major import 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

 

Country and Population Overview

 

Total population
4.37 million
Total area
270,467 km2
Capital
Wellington

Currency
New Zealand dollars (NZD)
Internet users as percentage (%) of total population
83%

 

 

+ PAYMENT OUTLOOK

 

Purchases Term

 

Local
Credit 7 days

 

 

Sales Term

 

 

International
L/C, Prepayment

 

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.61.06

UK Pound

1

Rs.101.84

Euro

1

Rs.81.56

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

PDT

 

               

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

 

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

 

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

 

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

 

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

Credit not recommended

 

--

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.