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Report Date : |
10.06.2014 |
IDENTIFICATION DETAILS
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Name : |
DAVIS TRADING COMPANY LIMITED |
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Registered Office : |
91 Carbine Road, Mount Wellington, Auckland, 1060 |
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Country : |
New Zealand |
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Date of Incorporation : |
30.06.1967 |
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Com. Reg. No.: |
20032 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers, repackaging and distributors of food ingredients. |
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No. of Employees : |
200 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
New Zealand |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderately 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 |
Verified Address
Subject name : DAVIS
TRADING COMPANY LIMITED
Business address : 91
Carbine Road
Town : Mount
Wellington
Province : Auckland
Zip/postal code : 1060
Country : New
Zealand
Tel : +64
9 5742250
Fax : +64
9 5730055
Email : dcoates@davis.co.nz
Website : www.davistrading.co.nz
Registered address : 91
Carbine Road
Town : Mount
Wellington
Province : Auckland
Zip/postal code : 1060
Country : New
Zealand
Postal address : P.O.
Box 132-159
Town : Sylvia
Park
Province : Auckland
Zip/postal code : 1644
Country : New
Zealand
Executive Summary
Date founded or registered : 30/06/1967
Legal form : Private
Limited Company
Chief executive : Michael
Thomas McGuinness
Issued & paid up capital : NZD
760,800
Sales turnover : USD
100,000,000 (Estimated Non-Consolidated 12 months, 31/03/2013)
Line of business : Importers,
repackaging and distributors of food ingredients.
Staff employed : 200
employees
Company Analysis
Country risk : Country
risk is minimal
Operation trend : Operational
trend is steady
Management experience : Management
is adequately experienced
Financial performance :
Financial performance is good
Organization structure : Organizational
structure is stable
Detrimental : No
detrimental found
Payment history : No
payment delays noted
Registry Data
Registration date : 30/06/1967
Legal form : Private
Limited Company
Registration no 20032
Registered authority : New
Zealand Companies Office
Fiscal/ Tax no : 9429040898582
Registry status : Live/Active
Previous name : EDIBLE
OILS LIMITED (until 05-08-1971)
Change of legal form : None reported.
Key Management
Name : Michael
Thomas McGuinness
Designation : Chief
Executive Officer
Name : Daniel
John Coates
Designation : Sales
Director
Name : Philip
John Marshall
Designation : Purchasing
Director
Appointments
Name : Daniel
John Coates
Designation : Director
Appointment date : 01/09/02
Address : 21
Orakau Avenue
Epsom, Auckland 1023
New Zealand
Name : Philip
John Marshall
Designation : Director
Appointment date : 31/03/01
Address :
3/108 Kauri Point Road, RD3
Katikati, Bay of Plenty 3177
New Zealand
Name : Michael
Thomas McGuinness
Designation : Director
Appointment date : 01/04/87
Address : 21
Benbow Street
Saint Heliers, Auckland 1071
New Zealand
Name :
Ian Warren McSweeney
Designation : Director
Appointment date : 16/03/94
Address : 62
Te Awe Awe Street
Hokowhitu, Palmerston North 4410
New Zealand
Staff employed : 200
employees
Composition
Authorized Capital : NZD
760,800
No of shares : 760,800
Shares
Share par value : NZD 1
Issued capital : NZD
760,800
Paid up capital : NZD
760,800
How listed : Full List
Composition
Shareholder name : Michael Thomas
McGuinness
Address : 21
Benbow Street
Saint Heliers, Auckland 1071
New Zealand
No. of shares : 435,921
Shares
Shareholder name : Daniel
John Coates
Address : 21
Orakau Avenue
Epsom, Auckland 1023
New Zealand
No. of shares : 161,668
Shares
Shareholder name : Philip
John Marshall
Address : 3/108
Kauri Point Road, RD3
Katikati, Bay of Plenty 3177
New Zealand
No. of shares : 55,898
Shares
Shareholder name : Maree
Marshall
Address : 3/108
Kauri Point Road, RD3
Katikati, Bay of Plenty 3177
New Zealand
No. of shares : 55,897
Shares
Shareholder name : Ian
Warren McSweeney
Address : 62
Te Awe Awe Street
Hokowhitu, Palmerston North 4410
New Zealand
No. of shares : 28,592
Shares
Shareholder name : Emma Mary
Jayne
Address : 48D Tarawera
Terrace
Saint Heliers, Auckland 1071
New Zealand
No. of shares : 3,804
Shares
Shareholder name : Alan
Peter Rodgers
Address : 78
Ngahue Drive
Mount Wellington, Auckland 1072
New Zealand
No. of shares : 3,804
Shares
Shareholder name : Kerianne
Marie Ogden
Address : 23
Westholm Way
Pahurehure, Papakura 2113
New Zealand
No. of shares : 3,804
Shares
Shareholder name : Lucy
Elizabeth Johns
Address : 28
Treeway
Sunnyhills, Auckland 2010
New Zealand
No. of shares : 3,804
Shares
Shareholder name : Susan
Perry
Address : 183
Riddell Road
Glendowie,
Auckland 1071
New Zealand
No. of shares :
3,804 Shares
Comments : Other
shareholder includes:
Shareholder name: Robert
Wallace Edgar Hammond
Address: 64
Karekare Road, RD2
Karekare, Auckland 0772
New Zealand
No. of shares: 3,804
Shares
Structure
Name : THE
THREE MAC COMPANY LIMITED
Affiliation type :
Wholly-owned Subsidiary
Address : 91
Carbine Road
Mount Wellington, Auckland 1060
New Zealand
Name : DAVIS
FOODS LIMITED
Affiliation type : Associate
Address : 91
Carbine Road
Mount Wellington, Auckland 1060
New Zealand
Name : TUSCAN
PROPERTY INVESTMENTS LIMITED
Affiliation type : Associate
Address : 91 Carbine
Road
Mount Wellington, Auckland 1060
New Zealand
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 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 : External
Sources
Financial statement date : 31/03/13
Type of accounts : Estimated
key figures
Currency : US
Dollar (USD)
Consolidation type : Non
Consolidated
Currency : US
Dollar (USD)
Denomination : (x1)
One
Date of financial year end : 31/03/13
Length of accounts : 12
months
Sale turnover / Income : 100,000,000
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
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 meets the criteria of being a
large Private Company however is exempted from filling their financial
information.
Main activities : The Subject
is engaged in importation, repackaging and distribution of food ingredients.
Product & services : Coconut
Products
Fruit Products
Herbs & Spices
Nuts & Seeds
Vegetables
Pickles, Spreads, Jams, Chutneys &
Mustards
Flours, Grains, Rice, Pasta & Yeast
Products
Fats, Oils & Margarines
Sugars, Syrups, Fondants, Bakery fillings
Dairy & Egg Products (including chilled
& frozen)
Chocolate, Cocoa, Desserts & Pre-mixes
Gelatine & Jelly Product
Dressings, Sauces, Vinegars, Marinades
Exotic Foods
Frozen / Chilled Meat, Fish & Poultry
Soups, Stocks, Boullions & Gravies
Biscuits, Crackers, Snack Foods & Dips
Fish & Meat Products (including canned)
Cereal & Breakfast Products
Beverages, Juices, Wine (including chilled
& frozen)
Packaging, Foils, Clingwraps &
Consumables
Cleaning Products
Vegetarian, Organic & Soy Products
Caramels, Syrups, Colouring & Flavouring
Products
Food Grade Additives, Enhancers,
Stabilisers, Salts
Frozen / Chilled Breads, Pastry, Desserts,
Confectionery
Crockery, Utensils, Table & Cookware
Coatings, Rubs, Seasonings & Stuffings
Beans, Pulses and Legume Products
Confectionery
Purchases
International : Thailand,
China, India, South Korea, Japan, Malaysia, Indonesia, United
States, Australia,
Tunisia, Fiji, Italy, Holland
Sales
Local : Yes
International : Pacific
Islands, Australia
Property &
Assets
Premises : The
Subject operates from premises at the verified heading address consisting of an
administrative office, warehouse and retail store.
Branches : In
addition, the Subject operates from branch offices and retail stores located
at:
315 Main Street
Palmerston North 4410
New Zealand
Tel: +64 6 3573199
20 Te Puni Street
Petone, Lower Hutt 5012
New Zealand
Tel: +64 4 5682009
48 Hammersmith Drive
Wigram, Christchurch 8042
New Zealand
Tel: +64 3 3583428
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
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 : Prepayment,
D/P, Telegraphic transfer, Credit 30-120 days
Sales Term
Local : Prepayment,
D/P, Bank transfer, Credit 30-120 days
International : Prepayment,
D/P, Telegraphic transfer, Credit 30-120 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 |
|
UK Pound |
1 |
Rs.99.35 |
|
Euro |
1 |
Rs.80.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
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Report Prepared
by : |
NNA |
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 |
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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 |
|
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 |
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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.