|
Report Date : |
22.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
ALLIANCE GROUP LIMITED |
|
|
|
|
Registered Office : |
Level
2, 51 Don Street, Invercargill 9810 |
|
|
|
|
Country : |
New Zealand |
|
|
|
|
Financials (as on) : |
30.09.2013 |
|
|
|
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Date of Incorporation : |
02.03.1948 |
|
|
|
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Com. Reg. No.: |
154786 |
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|
|
Legal Form : |
NZ Co-Operative Company |
|
|
|
|
Line of Business : |
Engages
in producing, processing and export of meat and meat-related products in New
Zealand and internationally. |
|
|
|
|
No. of Employees |
2,500 |
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 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
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 : ALLIANCE
GROUP LIMITED
Business
address : Level 2, 51
Don Street
Town :
Invercargill
Zip/postal
code : 9810
Country
: New
Zealand
Tel : +64 3
2142700
Fax : +64 3
2142708
Email
: cor@alliance.co.nz
Website
: www.alliance.co.nz
Registered
address : Level 2, 51 Don
Street
Town :
Invercargill
Zip/postal
code : 9810
Country
: New
Zealand
Postal
address : P.O. Box
845
Town :
Invercargill
Zip/postal
code : 9840
Country
: New
Zealand
Executive
Summary
Date
founded or registered : 02/03/1948
Legal
form : NZ
Co-Operative Company
Chief
executive : Grant
R. Cuff
Issued
& paid up capital : NZD
70,555,299
Sales
turnover : NZD 1,383,610,000
(Consolidated 12 months, 30/09/2013)
Net
income : NZD
5,614,000 (Consolidated 12 months, 30/09/2013)
Total
fixed assets : NZD
485,036,000 (Consolidated 12 months, 30/09/2013)
Line
of business : Producing,
processing, and export of meat and meat-related products.
Staff
employed : 2,500
employees (Subject)
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 : 02/03/1948
Legal
form : NZ
Co-Operative Company
Registration
no 154786
Registered
authority : New Zealand
Companies Office
Fiscal/
Tax no : 9429040268064
Registry
status : Live/Active
Previous
name : None
reported.
Change
of legal form : None
reported.
Key
Management
Name :
Grant R. Cuff
Designation
: Chief Executive Officer
Name :
John Mcgarth
Designation
: Chief Financial Officer
Appointments
Name :
Douglas Alexander
Brown
Designation
: Director
Appointment
date : 14/12/01
Address
: Punchbowl
Waimotu Rd - Maheno
6 O R D, Oamaru
New Zealand
Name :
Murray Wilson
Arthur Donald
Designation
: Director
Appointment
date : 16/12/91
Address
: Spar Bush, No 4 Rd
Invercargill 9874
New Zealand
Name :
John Andrew
Lindsay
Designation
: Director
Appointment
date : 20/12/02
Address
: Wakefield Farm
R D, Dipton
New Zealand
Name :
Graeme Roderick
Milne
Designation
: Director
Appointment
date : 01/04/13
Address
: 725 French Pass
Road
Rd 4, Cambridge 3496
New Zealand
Name :
Donald George
Morrison
Designation
: Director
Appointment
date : 13/12/13
Address
: 3 Waikaka Road
Rd 5, Gore 9775
New Zealand
Name :
Hilary Dawn
Sangster
Designation
: Director
Appointment
date : 16/12/11
Address
: 834
Ranfurly-patearoa Road
Rd 4, Ranfurly 9398
New Zealand
Name :
Vanessa Cynthia
May Stoddart
Designation
: Director
Appointment
date : 01/04/14
Address
: 28 Aldred Road
Remuera, Auckland 1050
New Zealand
Name :
Murray James
Taggart
Designation
: Director
Appointment
date : 17/12/10
Address
: 2045 Oxford Road
Rd 1, Oxford 7495
New Zealand
Name :
John Anthony
Waller
Designation
: Director
Appointment
date : 01/01/09
Address
: 11 Maungakiekie
Avenue
Greenland, Auckland 1051
New Zealand
Staff
employed : 2,500 employees
(Subject)
Composition
Authorized
Capital : NZD 70,555,299
No of
shares : 70,555,299 Shares
Share
par value : NZD 1
Issued
capital : NZD 70,555,299
Paid
up capital : NZD 70,555,299
How
listed : Major
Shareholders Only
Composition
Shareholder
name : LANDCORP FARMING LIMITED
Address
: 15 Allen Street
Wellington 6011
New Zealand
No. of
shares : 145,000 Shares
% of
shares : 0.21%
Shareholder
name : E.G. LUDEMANN LIMITED
Address
: C/o Harvie Green
Wyatt
Level 5,229 Moray Place
Dunedin 9016
New Zealand
No. of
shares : 145,000 Shares
% of
shares : 0.21%
Shareholder
name : MOUNT LINTON STATION LIMITED
Address
: C/o Crowe Horwath
(NZ) Ltd
173 Spey Street
Invercargill 9810
New Zealand
No. of
shares : 145,000 Shares
% of
shares : 0.21%
Shareholder
name : W PINCKNEY LIMITED
Address
: C/o Jackson
Valentine Limited
3rd Floor, 258 Stuart Street
Dunedin 9016
New Zealand
No. of
shares : 145,000 Shares
% of
shares : 0.21%
Shareholder
name : N.E. PARKES & SONS
LIMITED
Address
: 266 Hardy Street
Nelson 7010
New Zealand
No. of
shares : 145,000 Shares
% of shares : 0.21%
Shareholder
name : LONE STAR FARMS
Address
: Level 2, 295
Trafalgar Street
Nelson 7010
New Zealand
No. of
shares : 145,000 Shares
% of shares : 0.21%
Shareholder
name : GLEN ISLAY LIMITED
Address
: C/o Harvie Green
Wyatt
Level 5,229 Moray Place
Dunedin 9016
New Zealand
No. of
shares : 145,000 Shares
% of
shares : 0.21%
Shareholder
name : SUMMIT FARMING NZ LIMITED
Address
: C/o BDO
Christchurch
30 Sir William Pickering Drive
Burnside, Christchurch 8053
New Zealand
No. of
shares : 145,000 Shares
% of
shares : 0.21%
Shareholder
name : WILKINS FARMING COMPANY
LIMITED
Address
: 15a Hokonui Drive
Gore 9710
New Zealand
No. of
shares : 145,000 Shares
% of
shares : 0.21%
Shareholder
name : PETERS FARMS LIMITED
Address
: 3 Fairfield Street
Gore 9710
New Zealand
No. of
shares : 145,000 Shares
% of shares : 0.21%
Comments
: The Subject is a
co-operative and wholly owned by its farmers. It has around
5,000 shareholders.
Structure
Name :
NEW ZEALAND
HOLDINGS (UK) LTD
Affiliation
type : Wholly-owned
Subsidiary
Address
: 140-142 St, John St
London, EC1V 4UB
United Kingdom
Name :
WAITAKI
INTERNATIONAL LIMITED
Affiliation
type : Wholly-owned
Subsidiary
Address
: C/o ALLIANCE GROUP
LIMITED
Level 2, 51 Don Street
Invercargill 9810
New Zealand
Name :
PORKCORP NEW
ZEALAND LIMITED
Affiliation
type : Associate
Address
: 94 Vagues Road
Northcote, Christchurch 8052
New Zealand
Name :
THE NZ AND
AUSTRALIAN LAMB COMPANY LTD
Affiliation
type : Associate
Address
: 10 Shorncliffe Road
Etobicoke ON M9B 3S3
Canada
Name :
THE LAMB
CO-OPERATIVE INC
Affiliation
type : Associate
Address
: United States of
America
Bank
Details
Name
of bank : The Australia and
New Zealand Banking Group Limited (ANZ)
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 : Commercial
Registry Filings
Financial
statement date : 30/09/13
Type
of accounts : Full
audited
Currency
: New
Zealand, Dollar (NZD)
Exchange
rate : 1 USD = NZD
1.16 as of 21-05-2014
Summarized Financial Information
Consolidation
type : Consolidated
Consolidated
Currency
: New
Zealand, Dollar New Zealand, Dollar
(NZD) (NZD)
Denomination
: (x1)
One (x1) One
Date
of financial year end : 30/09/13
30/09/12
Length
of accounts : 12
months 12 months
Sale
turnover / Income : 1,383,610,000
1,369,954,000
Gross
profit : 52,930,000
-18,927,000
Profit
before tax : 8,398,000
-70,551,000
Net
income : 5,614,000
-50,800,000
Non
current assets : 248,766,000
247,949,000
Current
assets : 236,270,000
331,758,000
Inventories
: 126,640,000
189,948,000
Total
assets : 485,036,000
579,707,000
Current
liabilities : 66,973,000
82,721,000
Non
current liabilities : 120,740,000
202,253,000
Total
liabilities : 187,713,000
284,974,000
Share
equity : 297,323,000
294,733,000
Retained
earning : 187,529,000
181,915,000
Main
activities : The
Subject engages in producing, processing and export of meat and
meat-related products in New Zealand and internationally.
The Subject processes approximately 6 million lambs, 1
million sheeps,
200,000 cattles and 115,000 deers annually.
The Subject is a farmer-owned co-operative and has around
5,000
shareholders, who supply more than 85% of the livestock
processed.
Product
& services : Meat:
Chilled and frozen lamb, mutton, venison and beef
Meat related products
Wool
Hides
Pelts
Casings
Brand
: PURE
SOUTH
ASHLEY
FOUR SEASONS CERVENA VENISON
SPRING LAMB
FRESH LAMB
Purchases
Local
: Yes
Sales
Local
: Yes
International
: Worldwide:
United States of America, China, United Kingdom, Europe,
Middle-East
Key
events : December
20, 2013
Alliance Takeover Talks End With Blue Sky
Alliance Group Limited talks about a potential takeover of
Blue Sky Meats
(NZ) Ltd. have ended when Blue Sky withdrew after a failure
to agree on
key terms. Blue Sky withdrew from the “respectful and
amicable” talks
early December after being approached by Alliance a couple
of months
ago, Blue Sky Chairman Graham Cooney said in a statement.
Source: Businessweek
Property & Assets
Premises
: The
Subject operates from the verified heading address consisting of an
administrative office.
Branches
: In
addition, the Subject operates from eight processing plants which are
located throughout the South Island and lower North Island,
New Zealand.
Other
property : Total
NBV of property, plant and equipment as of 30-09-2013 was NZD
203,102,000.
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
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
: Cash,
Prepayment, Bank Transfer, D/P, Credit 30-120 days
Sales Term
Local
: Prepayment,
Bank Transfer, D/P, Credit 30-120 days
International
: Prepayment, L/C,
Telegraphic transfer, D/P, 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.58.77 |
|
|
1 |
Rs.99.01 |
|
Euro |
1 |
Rs.80.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PDT |
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 |
|
|
-- |
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.