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Report Date : |
10.06.2014 |
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Tel. No.: |
64 9 630 4490 |
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Fax No.: |
64 9 630 4490 |
IDENTIFICATION DETAILS
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Name : |
ACTAVIS NEW ZEALAND LIMITED |
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Formerly Known As : |
ARROW
PHARMACEUTICALS (NZ) LIMITED (until
01.07.2013) |
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Registered Office : |
Unit B8,
31-49 Normanby Road, Mount Eden, Auckland, Zip code 1024 |
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Country : |
New Zealand |
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Financials (as on) : |
31.12.2013 (Non-Consolidated) 31.12.2013 (Group Consolidated) |
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Date of Incorporation : |
15.02.2002 |
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Com. Reg. No.: |
1190198 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
· importer and distributor of pharmaceutical, beauty, health and dermatology products ·
Engaged in
producing and marketing generic, branded generic, branded and OTC
pharmaceutical products globally, covering all significant therapeutic
classes. · Subject Product formulations include modified release, solid oral dosage, semi-solids, suspensions, transdermals, suppositories, creams, ointments, liquids and injectables. |
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No of Employees : |
50 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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 |
Verified Address
Subject name :
ACTAVIS NEW ZEALAND LIMITED
Business
address : Unit B8, 31-49 Normanby
Road
Town : Mount Eden
Province : Auckland
Zip/postal
code : 1024
Country : New Zealand
Tel : +64 9 6304488
Fax : +64 9 6304490
Email : enquiries@actavis.co.nz
Website : www.actavis.co.nz
Registered
address : Unit B8, 31-49 Normanby Road
Town : Mount Eden
Province : Auckland
Zip/postal
code : 1024
Country : New Zealand
Postal address
: P.O. Box 128244
Town : Remuera
Province : Auckland
Zip/postal
code : 1541
Country : New Zealand
Executive Summary
Date founded
or registered : 15/02/2002
Legal form : Private Limited
Company
Chief
executive : Ronald
Andre van der Pluijm
Issued &
paid up capital : NZD 10,000
Sales turnover
: NZD 41,235,000
(Non-Consolidated 12 months, 31/12/2013)
Net income : NZD 1,741,000
(Non-Consolidated 12 months, 31/12/2013)
Total fixed
assets : NZD 22,644,000
(Non-Consolidated 12 months, 31/12/2013)
Line of
business : Import and
distributes pharmaceutical, beauty, health and dermatology products.
Staff employed
: 50 employees
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, profit after tax, total assets, reserve, 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
reasonably experienced
Financial
performance : Financial
performance is good
Organization
structure : Organizational structure
is stable
Detrimental : No detrimental records found
Payment
history : No payment
delays noted
Credit amount
asked : Not described.
Registry Data
Registration
date : 15/02/2002
Legal form : Private Limited
Company
Registration
no. 1190198
Registered
authority : New Zealand
Companies Office
Fiscal/ Tax no
: 9429036616404
Registry
status : Live/Active
Previous name
: ARROW
PHARMACEUTICALS (NZ) LIMITED (until 01-07-2013)
Change of
legal form : None reported.
Key Management
Name : Ronald
Andre van der Pluijm
Designation : Managing Director
Name : Nicky
Rankin
Designation : Financial Director
Biography : Nicky has over 20
years of financial management experience and has
held a number of senior management positions in previous roles.
Nicky has worked in the CA, Government and Commercial
environment. As finance director, Nicky directs all financial
aspects of
the business including accounting practices, budgeting, financial
planning, tax, interface with the financial community, financial
analysis, and monitoring of financial performance. Nicky also
manages the Logistics and Supply Chain part of the organisation.
Nicky has a Bachelor of Accounting Degree (BACC) from the
University of Massey, and is an active member of the New Zealand
Institute of Chartered Accountants.
Appointments
Name : Ronald Andre van der
Pluijm
Designation : Director
Appointment
date : 27/06/05
Address : 27 Hampton Drive
St Heliers, Auckland 1071
New Zealand
Biography : Ron joined Actavis in 2005 as
Managing Director of the New Zealand
business (previously known as Arrow Pharmaceuticals). In 2012, Ron
was appointed as the Vice President for Actavis South Asia and New
Zealand. He has an MBA from Yonsei University and has been
involved in the Australian and New Zealand pharmaceutical industry
for over 18 years. He has been in various senior roles involving
general management, strategy, business development, finance and
marketing. He has worked for Alphapharm (Mylan), 3M
Pharmaceuticals, Novartis and has managed a number of smaller
listed biotech and medical device companies.
Staff employed : 50 employees
Composition
Authorized
Capital : NZD 10,000
No of shares :
925,000 Ordinary A Class
Shares / 74,995 B Class Shares / 5 C Class Shares
Share par
value : NZD 0.01
Issued capital
: NZD 10,000
Paid up
capital : NZD 10,000
How listed : Full List
Composition
Shareholder
name : ARROW GROUP APS
Address : Sankt Peders
Stræde 2 1
4000 Roskilde
Denmark
No. of shares
: 875,000
Ordinary A Class Shares / 74,995 B Class Shares
Shareholder
name : ROBIN HOOD
HOLDINGS LIMITED
Address : HF 62 Hal Far
Industrial Estate
Birzebbugia BBG 3000
Malta
No. of shares
: 5 C Class
Shares / 50,000 Ordinary A Class Shares
Structure
Name : ACTAVIS PLC
Affiliation
type : Ultimate
Holding Company
Address : 1 Grand Canal Square
Docklands, Dublin 2
Ireland
Comments : Actavis PLC is a global,
integrated specialty pharmaceutical company. The
Company focused on developing, manufacturing and distributing
generic, brand
and biosimilar products. The Company produces and markets generic,
branded
generic, branded and over-the-counter (OTC) pharmaceutical
products covering
all therapeutic classes. The Company's product formulations
include modified
release, solid oral dosage, semi-solids, suspensions,
transdermals, suppositories,
creams, ointments, liquids and injectables. In April 2014,
Aurobindo Pharma Ltd
acquired certain commercial operations in Western Europe from
Actavis plc. In
April 2014, the Company acquired Silom Medical Company, a
privately held
generic pharmaceutical company focused on developing and marketing
therapies in Thailand.
Name : ARROW GROUP APS
Affiliation type : Parent Company
Address : Sankt Peders Stræde 2 1
4000
Roskilde
Denmark
Name : ACTAVIS PHARMA PTY LTD
Affiliation type : Sister Company
Address : Level 5, 117 Harrington
Street
The
Rocks, NSW 2000
Australia
Name : ACTAVIS PTY LTD
Affiliation type : Sister Company
Address : Level 5, 117 Harrington
Street
The
Rocks, NSW 2000
Australia
Name : ACTAVIS AUSTRALIA PTY
LTD
Affiliation type : Sister Company
Address : Level 5, 117 Harrington
Street
The
Rocks, NSW 2000
Australia
Related companies and corporate affiliations comments
Other companies of the
Actavis Group should be considered affiliates of the Subject.
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
Source of
financial statement : Commercial
Registry Filings
Financial
statement date : 31/12/13
Type of
accounts : Full audited
Currency : New Zealand,
Dollar (NZD)
Exchange rate
: 1 USD = NZD 1.17
as of 09-06-2014
Summarized
Financial Information
Consolidation
type : Non Consolidated Non Consolidated Group Consolidated
Currency : New Zealand,
Dollar New Zealand, Dollar US Dollar (USD)
(NZD)
(NZD)
Denomination :
(x1) One (x1) One (x1) One
Date of
financial year end : 31/12/13 31/12/12 31/12/13
Length of
accounts : 12 months 12 months 12 months
Sale turnover
/ Income : 41,235,000 39,289,000
8,677,600,000
Gross profit :
10,927,000 10,402,000
Profit before
tax : 2,243,000 3,056,000 -638,400,000
Net income : 1,741,000 2,142,000 -750,400,000
Non current
assets : 3,043,000 3,095,000 18,291,200,000
Current assets
: 19,601,000 19,038,000 4,434,700,000
Inventories : 9,695,000 10,011,000 1,786,300,000
Total assets :
22,644,000 22,133,000 22,725,900,000
Current
liabilities : 6,995,000
4,888,000 3,294,900,000
Non current
liabilities : 3,562,000 6,899,000 9,893,900,000
Total
liabilities : 10,557,000
11,787,000 13,188,800,000
Share equity :
12,087,000 10,346,000 9,537,100,000
Retained
earning : 12,077,000 10,336,000 1,432,300,000
Comments : The non-consolidated financial
information above relates to the Subject only.
The group's consolidated financial
information above relates to the Subject's Ultimate Holding Company Actavis PLC
and all its subsidiaries which include the Subject.
Main activities : The Subject engages in
import and distribution of pharmaceutical, beauty, health and
dermatology products.
Engaged
in producing and marketing generic, branded generic, branded and OTC
pharmaceutical products globally, covering all significant therapeutic classes.
Subject
Product formulations include modified release, solid oral dosage, semi-solids,
suspensions, transdermals, suppositories, creams, ointments, liquids and
injectables.
Product & services :
· Arrow - Amitriptyline Tablets
· Ava 30 ED Tablets
· Ava 20 ED Tablets
· Arrow - Bendrofluazide Tablets
· Bicalaccord Tablets
· Arrow - Brimonidine Eye Drops
· Arrow - Calcium Tablets
· Carbaccord Concentrated Injection
· Chlorafast Eye Drops
· Arrow - Citalopram Tablets
· Arrow - Etidronate Tablets
· Fexofast Tablets
· Flucasten One Capsules
· Ibucode Plus Tablets
· Ibuprofen Tablets
· Arrow - Lamotrigine Tablets
· Laxofast Gel Capsules
· Letraccord Tablets
· Arrow - Lisinopril Tablets
· Arrow - Losartan & Hydrochlorothiazide Tablets
· Arrow - Meloxicam Tablets
· Arrow - Morphine LA Tablets
· Mygran Tablets
· Naltraccord Tablets
· Next Choice (Levonogestrel) Tablets
· Arrow - Nifedipine XR Tablets
· Arrow - Norfloxacin Tablets
· Arrow - Ornidazole Tablets
· Parafast Tablets
· Parafast EXTRA Tablets
· Arrow - Quinapril Tablets
· Arrow - Ranitidine Tablets
· Arrow - Roxithromycin Tablets
· Arrow - Sertraline Tablets
· Silagra Tablets
· Arrow - Simva Tablets
· Arrow - Sumatriptan Tablets
· Arrow - Sumatriptan Injection
· Arrow - Terazosin Tablets
· Arrow - Timolol Eye Drops
· Arrow - Tolterodine Tablets
· Arrow - Topiramate Tablets
· Arrow - Tramadol Capsules
· Arrow - Venlafaxine Tablets
· Zetop Tablets
· Audiclean Ear Cleansing Wash
· Audiclean Ear Wax Remover
· DermaLab 01. Gentle Cleansing Body and Face Wash
·
DermaLab 02. Stay
Hydrated Moisturiser
·
DermaLab 03. Soothe
and Repair Treatment Oil
·
DermaLab 04. Clean
Your Hair Shampoo
·
DermaLab 05. Nourish
Your Hair Conditioner
·
Dermal Therapy Blistop
·
Dermal Therapy Hand
Cream
·
Dermal Therapy Heel
Balm
·
Dermal Therapy Heel
Magic
·
Dermal Therapy Lip
Balm
·
Dermal Therapy Nail
Magic
·
Dermal Therapy
Platinum
·
Crampeze Night Cramps
·
Crampeze Forte Night
Cramps
·
Natralia Crystal
Deodorant
·
Para Plus Headlice Treatment
·
Para Repellent
·
RepHresh Vaginal Gel
·
Replens Personal
Moisturiser
·
Silence Anti-Snoring
Treatment
·
Sinoclear Nasal Rinse
·
Wartner Wart Treatment
·
Wartner Plantar Wart
Treatment
·
DB Cosmetics
·
IMEDEEN Skincare
Tablets
·
INNOXA Cosmetics and
Skincare
·
Le Tan Fast Tan Range
·
Le Tan Sun Protection
Range
·
NatureColour permanent
hair colour
Purchases
International
: Europe, United States,
Asia, Australia
Sales
Local : Yes
International
: Pacific Islands
Property &
Assets
Premises : The Subject operates from
premises at the verified heading address
consisting of an administrative office and warehouse.
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
& 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
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
: L/C,
Telegraphic transfer, D/P, Credit 30-120 days
Sales Term
Local : Bank
transfer, Prepayment, Credit 30-90 days
International
: L/C,
Prepayment, D/P, 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 |
|
US Dollar |
1 |
Rs.59.06 |
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|
1 |
Rs.99.35 |
|
Euro |
1 |
Rs.80.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
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 |
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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 |
|
<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.