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Report Date : |
18.01.2014 |
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Tel. No.: |
64 3 3664550 |
IDENTIFICATION DETAILS
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Name : |
ENATEL LIMITED |
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Registered Office : |
66 Treffers Road, Wigram,
Christchurch, Zip/postal code 8042 |
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Country : |
New Zealand |
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Date of Incorporation : |
15.04.2002 |
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Com. Reg. No.: |
1202388 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in designing, manufacturing & distribution of standby power products for the telecommunication, networking, wireless and industrial markets. |
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No. of Employees : |
170 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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) |
|
New Zealand |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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.
|
Source : CIA |
Verified Address
Subject name : ENATEL LIMITED
Business address : 66 Treffers Road
Town : Wigram
Province : Christchurch
Zip/postal code : 8042
Country : New Zealand
Tel : +64 3 3664550
Fax : +64 3 3660884
Email : info@enatel.net
Website : www.enatel.net
Registered address : 66 Treffers Road
Town : Wigram
Province : Christchurch
Zip/postal code : 8042
Country : New Zealand
Executive Summary
Date founded or registered : 15/04/2002
Legal form : Private Limited
Company
Chief executive : Gary Robert Foot
Issued & paid up capital
: NZD 527,575
Sales turnover : NZD 34,000,000 (Estimated
Non-Consolidated 12 months, 31/03/2013)
Line of business : Design, manufacturing
& distribution of standby power products for the
telecommunication, networking, wireless and industrial markets.
Staff employed : 170 employees
ARY DETAILS
Credit Risk
Interpretation
Credit risk theory : Reasonable financial and
operational base. Small credits may be considered with
some confidence that commitments will
be sustained under normal circumstances. This is based on criterions such as
years of establishment, number of employees, sales turnover and others. A
cautious credit control policy
applies.
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
progressing
Management experience : Management is adequately experienced
Financial performance : Financial
performance is good
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Registry Data
Registration date : 15/04/2002
Legal form : Private Limited
Company
Registration no 1202388
Registered authority : New Zealand Companies Office
Fiscal/ Tax no : 9429036543977
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Gary Robert Foot
Designation : Managing Director
Name : Andrew Hamish Davidson
Designation : Sales & Marketing Director
Name : Dennis Alan Chapman
Designation : Executive Director
Appointments
Name : Dennis Alan Chapman
Designation : Director
Appointment date : 15/04/02
Address : Chapman Hall, State Highway
75
Halswell,
Rd 2
Christchurch
8025
New
Zealand
Name : Andrew Hamish Davidson
Designation : Director
Appointment date : 15/04/02
Address : 392 No. 10 Road
Rangiora,
Christchurch
New
Zealand
Name : Gary Robert Foot
Designation : Director
Appointment date : 15/04/02
Address : 1427 Tram Road
Christchurch
7475
New
Zealand
Name : Peter John Morrissey
Designation : Director
Appointment date : 24/07/13
Address : 89 Dyers Pass Road
Cashmere,
Christchurch 8022
New
Zealand
Staff employed : 170 employees
Composition
Authorized Capital : NZD 527,575
No of shares : 527,575 Shares
Share par value : NZD 1
Issued capital : NZD 527,575
Paid up capital : NZD 527,575
Composition
How listed : Full List
Shareholder name : Dennis Alan Chapman
Address : Chapman Hall, State Highway
75
Halswell,
Rd 2
Christchurch
8025
New
Zealand
No. of
shares : 212,500 Shares
Shareholder name : Gary Robert Foot
Address :
1427 Tram Road
Christchurch
7475
New
Zealand
No. of shares : 91,667 Shares
Shareholder name : Andrew Hamish Davidson
Address : 392 No. 10 Road
Rangiora,
Christchurch
New
Zealand
No. of shares : 79,167 Shares
Shareholder name : Peter John Morrissey
Address : 89 Dyers Pass Road
Cashmere,
Christchurch 8022
New
Zealand
No. of shares : 79,166 Shares
Shareholder name : Michael James Clifford
Address : 143 Bridge Road, Rd 5
Rangiora
7475
New
Zealand
No. of shares : 15,000 Shares
Shareholder name : Arthur Johannes Hein de Beun
Address : 54 Berry Street
St Albans,
Christchurch 8014
New
Zealand
No. of shares : 15,000 Shares
Shareholder name : Murray Raymond Wyma
Address : 35 Bourne Crescent
Papanui,
Christchurch 8053
New
Zealand
No. of shares : 12,500 Shares
Shareholder name : Peter John May
Address : 14 Edward Avenue
Edgeware,
Christchurch 8014
New
Zealand
No. of shares : 10,000 Shares
Shareholder name : Rodney Anthony Bolton
Address : 151 West Belt
Rangiora
7400
New
Zealand
No. of shares : 10,000 Shares
Shareholder name : Colin Stewart Donaldson
Address : 107 Harris Crescent
Papanui,
Christchurch 8053
New
Zealand
No. of shares : 2,575 Shares
Structure
Name : ENASOLAR LIMITED
Affiliation type : Associate
Address : 66 Treffers Road
Wigram,
Christchurch 8042
New
Zealand
Comments : Design & manufacturing of
solar inverters.
Name : ENATEL MOTIVE POWER
LIMITED
Affiliation type : Associate
Address : 66 Treffers Road
Wigram,
Christchurch 8042
New
Zealand
Comments : Design & manufacturing of motive power chargers.
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
Source of financial statement
: External Sources
Financial statement date : 31/03/13
Type of accounts : Estimated key figures
Currency : New Zealand,
Dollar (NZD)
Exchange rate : 1 USD = NZD 1.21 as of
17-01-2014
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 : 34,000,000
Comments : 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 engages in design,
manufacturing & distribution of standby
power
products for the telecommunication, networking, wireless and
industrial
markets.
Product & services : - Telecom power products: AC-DC rectifiers,
DC-AC inverters, Wall mount
rectifiers,
DC-DC converters, hybrid power products, standby DC power
products,
Monitoring & control products
- Contract manufacturing services
Brand : ENATEL
Purchases
International : Mainly from Asia, Europe
Sales
Local : Yes
International : Worldwide: The Subject export to
around 65 countries worldwide which
includes
Australia, Malaysia, Thailand, Vietnam, Russia, United States,
China,
Croatia, South Africa, United Kingdom
Key events : October 2013
First CEC
Compliant Large Battery Charger available NOW from Enatel
Motive
Power
Enatel
Motive Power are pleased to announce their EcoCharge FS3 range
of battery
chargers have passed the CEC (California Energy Commission)
standard
for Energy Efficiency. Enatel Motive Power is the first large
battery
charger company in the world to have achieved this milestone and
be listed
on the CEC website http://www.energy.ca.gov
California
is renowned for “leading the charge” in matters of protecting the
environment,
and reducing energy wastage. Compliance with CEC energy
efficiency
regulations will be mandatory for all large battery chargers, which
are
typically used for charging electric forklifts and other electric materials
handling
vehicles, sold in California with a manufactured date after 1
January
2014.
Enatel
Motive Power Managing Director, Gary Foot commented “it was
tremendously
satisfying to achieve official recognition from CEC of the
energy
saving capability of our charger products, and being the first
product
listed on the website endorses the technology leadership EMP
have to
offer customers serious about minimizing their energy costs, not
only in
California, but worldwide."
The CEC
regulations require comprehensive measurement of charger
efficiency
continuously during the recharge of the battery, as well as setting
minimum
requirements for power factor and also ensuring that the batteries
are
charged as efficiently as possible by specifying a maximum charge
return
factor so that energy is not wasted over charging the battery.
Historically many
charger manufacturers have made claims regarding the
efficiency of the
chargers which relates only to the peak efficiency of the
charger, and doesn't
take into consideration the efficiency of the charger
over its complete
operating range, or when it is sitting idle.
The EcoCharge series
of chargers are multi voltage (24/36/48V or
72/80/96V) multi Amp
Hour (0 – 2000Ahr) modular battery chargers
capable of
conventional or high rate charging the majority of electric
powered materials
handling equipment using a wide range of different
battery types.
Available options include Battery Modules and Auto watering
capability.
Source: www.enatel.net
July 2013
Enatel Energy launches
the intuitive 'greenSHELF' to harness renewable Energy
Enatel Energy,
Enatel's telecom power specialists, have launched the
latest product in the
hybrid power system range. The greenSHELF is a 19”
rack mountable 48V DC
solar charging system, which intelligently monitors
energy use to
intuitively blend solar – and wind – energy inputs.
Industry-leading high
efficiency technology means the greenSHELF
maximises the energy
created by PV panels: harvesting the sun’s energy
sooner and for longer
than comparable devices. Tower companies and
network operators will
experience a considerable reduction in their
operating costs, an
increased return on their investment and reduced CO2
emissions at off-grid
sites. They will also have added reassurance with
inclusion of various
safety and infrastructure preservation elements which
satisfy regulatory
requirements, such as earth fault detection.
Its modular design
means the greenSHELF is an easy, expandable
standalone addition to
an existing communications site, or it can be
installed as part of
Enatel’s unique SYNERGi full hybrid solution. It can
also be configured for
use with wind turbines. Enatel’s Sales Manager
Damien O’Regan is
thrilled with the new product. “Our customers demand
the best so we’ve developed
the greenSHELF to offer them the means to
meet growing green
initiatives while making significant operational
savings” he says.
“It’s quite an achievement. Conversion efficiency above
97.5%, compatibility
with broadest range of solar panels, and the ease to
configure against
varying site demands means it’s truly representative of
the highest
performance and greatest versatility.”
Its functional design
and compact style, combined with its ultra-high
efficiency rating puts
the greenSHELF at the forefront of the industry. It
includes advanced
battery management technology, plus logging and
communication options
for remote monitoring. The greenSHELF can be
configured to support
either solar or wind generation inputs and is available
from Enatel Energy now.
Source: www.enatel.net
Property &
Assets
Premises : The Subject operates from the
verified heading address consisting of a
production facility, warehouse and an administrative office.
Branches : None reported.
Intellectual property : ISO 9001 certified.
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 : Prepayment, Bank
transfer, Credit up to 90 days
International : L/C, Telegraphic transfer,
Prepayment, Credit up to 90 days
Sales Term
Local : Prepayment, Bank
transfer, Credit up to 90 days
International : L/C, Telegraphic transfer,
Prepayment, Credit up to 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 |
|
US Dollar |
1 |
Rs.61.35 |
|
UK Pound |
1 |
Rs.100.21 |
|
Euro |
1 |
Rs.83.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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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.