MIRA INFORM REPORT

Report No. :	321930
Report Date :	16.05.2015

IDENTIFICATION DETAILS

Name :	MOBOTECH LIMITED

Formerly Known As :	MOBOT INDUSTRIES LIMITED

Registered Office :	PO Box 99819 Newmarket, Aukland, 1049

Country :	New Zealand

Date of Incorporation :	01.07.2010

Com. Reg. No.:	2519891

Legal Form :	Private Limited Liability Company

Line of Business :	Design and manufacture robotic handling equipment.

No. of Employees :	Less than 10

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

New Zealand

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

NEW ZEALAND - ECONOMIC OVERVIEW

Over the past 30 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, fueling a large balance of payments deficit that posed a challenge for policymakers. 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. The higher rate attracted international capital inflows, which strengthened the currency and housing market while 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 in 2009, and achieved 2-3% growth between 2011 to 2014. Nevertheless, key trade sectors remain vulnerable to weak external demand and lower commodity prices. In the aftermath of the Canterbury earthquakes, the government has continued programs to expand export markets, develop capital markets, invest in innovation, raise productivity growth, and develop infrastructure, while easing its fiscal austerity.

Source : CIA

IDENTIFICATION

Given
Subject name:	Mobotech
Address:	PO Box 99819 Newmarket
State/province:	Aukland
Zip/postal code:	1049
Country:	New Zealand

Verified
Subject name:	MOBOTECH LIMITED
Address:	87 Gillies Avenue, Epsom	Postal address:	PO Box 99819
Town:	Auckland	Town:	Auckland
Zip/postal code:	1023	Zip/postal code:	1049
Country:	New Zealand
Mobile phone:	+64 21662685 (Mr. Steve)
Email:	steve.haythorne@mobotech.com
Website:	www.mobotech.com

EXECUTIVE SUMMARY

Date registered:	01-07-2010
Legal form:	Private Limited Liability Company
Main activities:	Design and manufacture robotic handling equipment.
Employees:	Less than 10

Interpretation

Financial information was not available. More caution advisable when considering granting credit. Smaller credits plus guarantees an advantage. A strict credit control policy applies.

REGISTRY DATA

Key Facts
Date registered:	01-07-2010
Legal form:	Private Limited Liability Company
Registration no:	2519891
Registry auth.:	Registrar of Companies
Other reg.:	NZBN: 9429031490580
Registry status:	Live/Active
Previous names:	The Subject initially operated under the name of MOBOT INDUSTRIES LIMITED and changed to the present style on 24-07-2013.

LEGAL FILINGS

Bankruptcy filings:	None
Court judgements:	None
Tax liens:	None
Other:	None

MANAGEMENT & STAFF

Key Managers
Name:	Steven Theo Haythorne
Job title:	Managing Director

Name:	Gregory John Sitters
Job title:	Director

Staff
No of employees	Less than 10

BOARD OF DIRECTORS / OTHER APPOINTMENTS

Appointments
Name:	Steven Theo Haythorne
Board function:	Managing Director
Address:	87 Gillies Avenue, Epsom Auckland 1023 New Zealand

Name:	Gregory John Sitters
Board function:	Director
Address:	57a Mount St John Avenue Epsom Auckland 1051 New Zealand

SHARE CAPITAL

Composition
Number/type:	24,183 shares

Shareholders/Owners

How Listed	Major Shareholders (representing 76.77% of total shareholding)

Composition
Name:	Steven Theo Haythorne
No. of shares:	7,100 shares
Address:	87 Gillies Avenue, Epsom Auckland 1023 New Zealand

Name:	NZVIF INVESTMENTS LIMITED
No. of shares:	3,010 shares
Address:	Unit 1b, Ascot Office Park 93-95 Ascot Avenue Greenlane Auckland 1051 New Zealand

Name:	Colin Clark Glenys Clark Brett Maingay (Joint shareholding)
No. of shares:	2,500 shares
Address:	Colin Clark & Glenys Clark: 120b Bucklands Beach Road Bucklands Beach Auckland 2012 New Zealand Brett Maingay: 186a Bleakhouse Road Mellons Bay Auckland 2014 New Zealand

Name:	SPARKBOX INVESTMENTS LIMITED
No. of shares:	1,370 shares
Address:	Morrison Kent Level 19, 105 The Terrace Wellington 6011 New Zealand

Name:	GD1 SEED FUND NOMINEES LIMITED
No. of shares:	1,275 shares
Address:	Level 4, 117-125 St Georges Bay Road, Parnell Auckland 1052 New Zealand

Name:	ICEHOUSE NOMINEES LIMITED
No. of shares:	1,152 shares
Address:	The Textile Centre, Level 2 117-125 St Georges Bay Road Parnell 1050 New Zealand

Name:	Katherina Peake William Peake (Joint shareholding)
No. of shares:	1,080 shares
Address:	Pohutukawa Trust 1/5 Cameron Street St Mary's Bay Auckland 1011 New Zealand

Name:	John Harman
No. of shares:	1,080 shares
Address:	Harman Family Trust 2/55 Sentinel Road Herne Bay Auckland 1011 New Zealand

Comments	The subject reportedly has 34 shareholders.

CORPORATE AFFILIATIONS

Structure
Name:	GD1 SEED FUND NOMINEES LIMITED
Affiliation type:	Shareholder
Address:	Level 4, 117-125 St Georges Bay Road, Parnell Auckland 1052 New Zealand

Name:	ICEHOUSE NOMINEES LIMITED
Affiliation type:	Shareholder
Address:	The Textile Centre, Level 2 117-125 St Georges Bay Road Parnell 1050 New Zealand

Name:	NZVIF INVESTMENTS LIMITED
Affiliation type:	Shareholder
Address:	Unit 1b, Ascot Office Park 93-95 Ascot Avenue Greenlane Auckland 1051 New Zealand

Name:	SPARKBOX INVESTMENTS LIMITED
Affiliation type:	Shareholder
Address:	Morrison Kent Level 19, 105 The Terrace Wellington 6011 New Zealand

BANKING & FINANCING

Charges & Mortgages

Time of Registration: 05-Feb-2014 11:40:59

Financing Statement Registration No: FF5U6J0S748W9876

Organisation Name: MOBOTECH LIMITED

Incorporation Number: 2519891

City/Town: Auckland

Collateral Type: Goods - Motor Vehicles

FINANCIAL ACCOUNTS

Description
Required to file:	No
Source:	N/A

Comments	The Subject's financial statements were not available in the course of our investigation. We spoke to Mr. Steven Theo Haythorne (Managing Director) who declined to disclose such information on the ground of confidentiality.

OPERATIONS & HISTORY

Activities
Full description:	The Subject is engaged in the design and manufacture of robotic handling equipment for commercial applications.

Sales
Export:	Australia

PROPERTY & ASSETS

Premises

The Subject's head office is located at the heading address.

PAYMENTS

Purchase Terms
Local:	Cash Credits 14-30 days
Imports:	L/Cs Credits 30 days net

Sales Terms
Local:	Cash Credits 14-30 days
Exports:	L/Cs Credits 30 days net

Debt Collections / Judgements	No negative information was found.

Payment Experience
Payment behaviour:	As trade references were not supplied, the Subject's payment track record history CANNOT BE ACCURATELY DETERMINED, but payments are believed to be PROMPT.

INVESTIGATIVE NOTES

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.63.58
UK Pound	1	Rs.100.30
Euro	1	Rs.72.38

INFORMATION DETAILS

Analysis Done by :	SUB

Report Prepared by :	VNT

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.