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Report Date : |
28.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SUMMIT TRADES
LIMITED |
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|
|
|
Registered Office : |
10A Gwenand Place, Botany
Downs, Auckland, Zip code 2010 |
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|
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Country : |
New Zealand |
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Date of Incorporation : |
18.04.2000 |
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Com. Reg. No.: |
1031452 |
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|
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and distributor of Food Products (We tried to confirm / obtain the detailed activity but the same is not available from any sources.) |
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No of Employees : |
03 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Slow But Correct |
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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 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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 : SUMMIT TRADES LIMITED
Business address : 3 / 3 Ryan Place
Town : Manukau
Province : Auckland
Zip/postal code : 2104
Country : New Zealand
Tel : +64 21 2173482 (Mobile No.)
Email : summit_ltd@hotmail.com
Registered address : 10A Gwenand Place
Town : Botany Downs
Province : Auckland
Zip/postal code : 2010
Country : New Zealand
Executive Summary
Date founded or registered : 18/04/2000
Legal form : Private Limited
Company
Chief executive : Stephen Jeyashankar
Anthony
Issued & paid up capital
: NZD 1,000
Line of business : Import and distribution of
food products.
Staff employed : 3 employees
Credit Risk
Interpretation
Credit risk theory : Some indications of
financial and operational stress. More caution is
recommended when considering granting
credit. Smaller credits plus loan guarantees is an advantage. This is due to
insufficient financial data. A strict credit control policy applies.
Company Analysis
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 : Slow But Correct
Registry Data
Registration date : 18/04/2000
Legal form : Private Limited Company
Registration no 1031452
Registered authority : New Zealand Companies Office
Fiscal/ Tax no : 9429037278595
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Stephen Jeyashankar
Anthony
Designation : Managing Director
Appointments
Name : Stephen Jeyashankar
Anthony
Designation : Director
Appointment date : 18/04/00
Address : 61 Reeves Road
Pakuranga,
Auckland 2010
New
Zealand
Staff employed : 3 employees
Composition
Authorized Capital : NZD 1,000
No of shares : 1,000 Shares
Share par value : NZD 1
Issued capital : NZD 1,000
Paid up capital : NZD 1,000
How listed : Full List
Composition
Shareholder name : Stephen Jeyashankar Anthony
Address : 61 Reeves Road
Pakuranga,
Auckland 2010
New
Zealand
No. of shares : 950 Shares
% of shares : 95%
Shareholder name : Sathya Gayathiri Anthony
Address : 61 Reeves Road
Pakuranga,
Auckland 2010
New
Zealand
No. of shares : 50 Shares
% of shares : 5%
Structure
Name : BMSS LIMITED
Affiliation type : Sister Company
Address : 61 Reeves Road
Pakuranga,
Auckland 2010
New
Zealand
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
Comments : The representative contacted
Mr. Stephen Jeyashankar Anthony 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 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 does not meet the
criteria of being a large Private Company.
Main activities : The Subject engages in import and
distribution of food products.
Purchases
International : India, Pakistan, Sri Lanka,
United Arab Emirates, Malaysia, Australia
Sales
Local : Yes
International : No exports.
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 : Telegraphic transfer,
Prepayment, Credit 30-60 days
Sales Term
Local : Bank transfer, Cash,
Prepayment, Credit 30 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 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.88.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
|
-- |
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.