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Report Date : |
17.02.2014 |
IDENTIFICATION DETAILS
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Name : |
NOVALOK
STORAGE SYSTEMS LIMITED |
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Registered Office : |
436 Heads
Road Castlecliff Whanganui 4501 |
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Country : |
New Zealand |
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Date of Incorporation : |
20.03.2008 |
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Com. Reg. No.: |
2098256 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Design,
manufacturing and distribution of racking and shelving products |
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No. of Employees : |
20 |
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
|
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
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
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Source
: CIA |
Verified Address
Subject name : NOVALOK STORAGE SYSTEMS LIMITED
Business
address : 436 Heads Road
Town : Castlecliff
Province : Whanganui
Zip/postal code : 4501
Country : New Zealand
Tel : +64 6 3443068
Fax : +64 6 3445335
Email : sales@novalok.co.nz
Website : www.novalok.co.nz
Registered
address : 436 Heads Road
Town : Castlecliff
Province : Whanganui
Zip/postal code : 4501
Country : New Zealand
Postal address : P.O. Box 751
Town : Wanganui Mail Centre
Province : Whanganui
Zip/postal code : 4540
Country : New Zealand
Executive Summary
Date founded
or registered : 20/03/2008
Legal form : Private Limited
Company
Chief executive
: John Edward
Suckling
Issued &
paid up capital : NZD 100
Line of
business : Design,
manufacturing and distribution of racking and shelving products.
Staff employed
: 20 employees
Country risk :
Country risk is
minimal
Operation
trend : Operational
trend is steady
Management
experience : Management is
modestly 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 : 20/03/2008
Legal form : Private Limited Company
Registration
no 2098256
Registered
authority : New Zealand Companies Office
Fiscal/ Tax no
: 9429032890402
Registry
status :
Live/Active
Previous name
: None reported.
Change of
legal form : None reported.
Key Management
Name : John Edward Suckling
Designation : Managing
Director
Appointments
Name : John Edward Suckling
Designation : Director
Appointment
date : 20/03/08
Address : 20 Edmonds Drive
Otamatea, Whanganui 4500
New Zealand
Staff employed
: 20 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 : Jointly held by John Edward Suckling
& Hilary Suckling
Address : John Edward Suckling &
Hilary Suckling
20 Edmonds Drive
Otamatea, Whanganui 4500
New Zealand
No. of shares
: 58 Shares
Shareholder
name : Jointly held by Richard John
Suckling & Suzanne Rachel Suckling
Address : Richard
John Suckling & Suzanne Rachel Suckling
122 Fitzherbert Avenue
Tawhero, Whanganui 4501
New Zealand
No. of shares
: 38 Shares
Shareholder
name : John Edward Suckling
Address : 20 Edmonds Drive
Otamatea, Whanganui 4500
New Zealand
No. of shares
: 1 Share
Shareholder
name : Richard John Suckling
Address : 122 Fitzherbert Avenue
Tawhero, Whanganui 4501
New Zealand
No. of shares
: 1 Share
Shareholder
name : Hilary Suckling
Address : 20 Edmonds Drive
Otamatea, Whanganui 4500
New Zealand
No. of shares
: 1 Share
Shareholder
name : Suzanne Rachel Suckling
Address : 122 Fitzherbert Avenue
Tawhero, Whanganui 4501
New Zealand
No. of shares
: 1 Share
Structure
Related
companies and corporate
affiliations
comments : None
reported.
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 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
Comments : The
representative contacted Mr. John Edward Suckling 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 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 design, manufacturing and distribution of
racking
and shelving products.
Product & services : Racking: Pallet racking, heavy duty warehouse
racking systems etc
Commercial and industrial shelves: Medical shelving products, Food
shelving products, Freezer shelving products etc
Document storage products
Retail display products
Bins
Racking Accessories
Purchases
International
: Mainly from China, India
Sales
Local : Yes
International
: Australia, Pacific Islands
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
Local : Bank
transfer, Prepayment, Credit 30-60 days
International
: Telegraphic transfer, Telegraphic transfer, Credit 30-60 days
Sales Term
Local : Bank
transfer, Prepayment, Credit 30-60 days
International
: Telegraphic transfer, Telegraphic transfer, Credit 30-60 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.62.28 |
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|
1 |
Rs.103.67 |
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Euro |
1 |
Rs.85.18 |
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.