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Report Date : |
10.02.2014 |
IDENTIFICATION DETAILS
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Name : |
SHANN NZ LIMITED |
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Registered Office : |
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Country : |
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Date of Incorporation : |
26.09.2008 |
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Com. Reg. No.: |
2172137 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Subject is engaged in the Import and wholesale distribution
of fabrics, leather and furniture, clothing and sail making materials and
related accessories. |
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No. of Employees : |
5 |
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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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
Switzerland is a peaceful, prosperous, and modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP among the highest in the world. Switzerland's economy benefits from a highly developed service sector, led by financial services, and a manufacturing industry that specializes in high-technology, knowledge-based production. Its economic and political stability, transparent legal system, exceptional infrastructure, efficient capital markets, and low corporate tax rates also make Switzerland one of the world's most competitive economies. The Swiss have brought their economic practices largely into conformity with the EU's to enhance their international competitiveness, but some trade protectionism remains, particularly for its small agricultural sector. The fate of the Swiss economy is tightly linked to that of its neighbors in the euro zone, which purchases half of all Swiss exports. The global financial crisis of 2008 and resulting economic downturn in 2009 stalled export demand and put Switzerland in a recession. The Swiss National Bank (SNB) during this period effectively implemented a zero-interest rate policy to boost the economy as well as prevent appreciation of the franc, and Switzerland's economy recovered in 2010 with 3.0% growth. The sovereign debt crises currently unfolding in neighboring euro-zone countries pose a significant risk to Switzerland's financial stability and are driving up demand for the Swiss franc by investors seeking a safe-haven currency. The independent SNB has upheld its zero-interest rate policy and conducted major market interventions to prevent further appreciation of the Swiss franc, but parliamentarians have urged it to do more to weaken the currency. The franc's strength has made Swiss exports less competitive and weakened the country's growth outlook; GDP growth fell to 1.9% in 2011 and 0.8% in 2012. Switzerland has also come under increasing pressure from individual neighboring countries, the EU, the US, and international institutions to reform its banking secrecy laws. Consequently, the government agreed to conform to OECD regulations on administrative assistance in tax matters, including tax evasion. The government has renegotiated its double taxation agreements with numerous countries, including the US, to incorporate the OECD standard, and is considering the possibility of imposing taxes on bank deposits held by foreigners. These steps will have a lasting impact on Switzerland's long history of bank secrecy.
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Source
: CIA |
Verified Address
Subject name : SHANN NZ LIMITED
Business address :
14 Saunders Place
Town : Avondale
Province : Auckland
Zip/postal code : 1026
Country : New Zealand
Tel : +64 9
8200780
Fax : +64 9
8200785
Email : info@shann.co.nz
Website : www.shann.co.nz
Registered address
: 14 Saunders Place
Town : Avondale
Province : Auckland
Zip/postal code : 1026
Country : New Zealand
Postal address : P.O. Box 84440
Town : Westgate
Province : Auckland
Zip/postal code : 0657
Country : New
Zealand
Executive Summary
Date founded or
registered : 26/09/2008
Legal form : Private Limited
Company
Chief executive : Martin James O'Shannassy
Issued & paid
up capital : NZD 100
Sales turnover : NZD
3,000,000 (Estimated Non-Consolidated 12 months, 31/12/2013)
Line of business : Import
and wholesale distribution of fabrics, leather and furniture, clothing and sail
making materials and related accessories.
Staff employed : 5 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 fair
Organization
structure : Organizational
structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date
: 26/09/2008
Legal form : Private Limited
Company
Registration no 2172137
Registered
authority : New Zealand
Companies Office
Fiscal/ Tax no : 9429032565157
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None
reported.
Key Management
Name : Martin
James O'Shannassy
Designation : Managing Director
Name : Phillipa
Peterson
Designation : Office
& Accounts Manager
Appointments
Name : Martin
James O'Shannassy
Designation : Director
Appointment date :
26/09/08
Address : Unit 5305, 1-7
Queens Bridge Street
Southbank, VIC 3006
Australia
Biography : Born on
23-07-1962 in Richmond, Victoria, Australia.
Name : Philip John
O'Shannassy
Designation : Director
Appointment date :
26/09/08
Address : 172-178
Berringa Road
Park Orchards, VIC 3114
Australia
Biography : Born on
02-08-1957 in Melbourne, Victoria, Australia.
Staff employed : 5 employees
Composition
Authorized Capital
: NZD 100
No of shares : 100 Shares
Share par value : NZD 1
Issued capital : NZD 100
Paid up capital : NZD
100
How listed : Full List
Composition
Shareholder name :
SHANN AUSTRALIA PTY LTD
Address : Unit 2, 23 Bell
Street
Preston, VIC 3072
Australia
No. of shares : 100 Shares
% of shares : 100%
Structure
Related companies
and corporate
affiliations comments : None reported.
Bank Details
Name of bank : Westpac 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 : 31/12/13
Type of accounts :
Estimated key figures
Currency : New Zealand,
Dollar (NZD)
Exchange rate : 1
USD = NZD 1.21 as of 07-02-2014
Summarized Financial Information
Consolidation type
: Non Consolidated Non Consolidated Non Consolidated
Currency : New Zealand,
Dollar New Zealand, Dollar New Zealand, Dollar
(NZD) (NZD)
(NZD)
Denomination : (x1) One (x1) One (x1) One
Date of financial
year end : 31/12/13 31/12/12 31/12/11
Length of accounts
: 12 months 12 months 12 months
Comments : The estimated
turnover was provided by Ms. Phillipa Peterson.
Private Companies in New Zealand are not required to file accounts
unless classified as "Large", which at the moment means that two out
of 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.
The Subject does not meet the criteria of
being a large Private Company.
Main activities : The
Subject engages in import and wholesale distribution of fabrics, leather and
furniture, clothing and sail making materials and related accessories.
The Subject products are used by manufacturers of sails, furniture,
bedding, blinds, curtains, footwear and clothing products.
Product &
services : Industrial
Fabrics
Furnishing Fabrics
Upholstery Leathers
Fasteners
Accessories
Adhesives
Cardboard & Backtacking
Clips & Joiners
Nails & Staples
Needles & Thread
Springs & Wire
Glues, Silicone & Adhesive Sprays
Tools
Machinery
Cardboard & Backtacking
Foam & Cushions
Furniture accessories
Zip
Sailcloth
Sailmaking hardware
Purchases
International : Australia, United
States, Germany, China
Sales
Local : Yes
International : Fiji
Property & Assets
Premises : The
Subject operates from the verified heading address consisting of a 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: 2009:
26.1%
(General
Government gross debt as 2010:
32.3%
a % GDP) 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: US$67.061
billion
Shares
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: 83%
population
Purchase Term
International : Telegraphic
transfer, D/P, Prepayment, Credit 30-90 days
Sales Term
Local : Bank
transfer, D/P, Prepayment, Credit 30-90 days
International : Telegraphic
transfer, Prepayment, 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
|
Indian Rupees |
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US Dollar |
1 |
Rs.62.32 |
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|
1 |
Rs.101.78 |
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Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.