MIRA INFORM REPORT

Report No. :	347478
Report Date :	04.11.2015

IDENTIFICATION DETAILS

Name :	TRANSCONTINENTAL FOREST PRODUCTS LIMITED
Registered Office :	107 Cashel Street, PO Box 17528, Christchurch, 8001
Country :	New Zealand
Date of Incorporation :	25.01.2001
Legal Form :	Private Limited Liability Company
Line of Business :	Import and export of forest and timber products.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Unknown
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, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
New Zealand	A1	A1

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:	Transcontinental Forest Products Ltd
Address:	P O Box 17528, Sumer Christchurch
Country:	New Zealand
Verified
Subject name:	TRANSCONTINENTAL FOREST PRODUCTS LIMITED
Address:	107 Cashel Street		Postal address:	PO Box 17528
Town:	Christchurch		Town:	Christchurch
Zip/postal code:	8001
Country:	New Zealand
Telephone:	N/A (+64 (3) 3777290 / 3777291 – Invalid)
Fax:	N/A
Remarks:	The Subject's registered address is: Robert Wong CA Ltd Suite 302 Geyser Building 100 Parnell Road, Parnell 1052 Auckland New Zealand The Subject is not registered as a phone/fax user locally.
EXECUTIVE SUMMARY
Date registered:	25-01-2001
Legal form:	Private Limited Liability Company
Main activities:	Import and export of forest and timber products.
Employees:	Undetermined
REGISTRY DATA
Key Facts
Date registered:	25-01-2001
Legal form:	Private Limited Liability Company
Registration no:	1112107
Registry auth.:	Registrar of Companies
Tax number:	NZBN: 9429037027889
Registry status:	Live/Active
LEGAL FILINGS
Bankruptcy filings:	None
Court judgements:	None
Tax liens:	None
Other:	None
MANAGEMENT & STAFF
Key Managers
Name:	Gordon Arthur Coles
Job title:	Director
Staff
No of employees	Undetermined
BOARD OF DIRECTORS / OTHER APPOINTMENTS
Appointments
Name:	Gordon Arthur Coles
Board function:	Director
Address:	28 Clifton Terrace, Clifton Christchurch 8081 New Zealand
SHARE CAPITAL
Composition
Number/type:	9 ordinary shares
Shareholders/Owners
How Listed	Full List
Composition
Name:	Gordon Arthur Coles
No. of shares:	9 ordinary shares
% of shares:	100%
Address:	28 Clifton Terrace, Clifton Christchurch 8081 New Zealand
CORPORATE AFFILIATIONS
Comments	None reported.
BANKING & FINANCING
Bankers
Bank name:	BANK OF NEW ZEALAND
Address:	New Zealand
Charges & Mortgages	Financing Statement Registration No: F264G8FR3DV7H92T/C0007 Time of Registration: 06-May-2002 14:14:10 Date of Renewal: 30-Mar-2012 19:37:02 Time of Change: 30-Mar-2012 19:37:02 Date of Expiry: 06-Mar-2017 19:37:02 Status: Registered DEBTOR Organisation Name: TRANSCONTINENTAL FOREST PRODUCTS LIMITED Organisation Type: Company Incorporation Number: 1112107 Debtor Reference: Email Address: Fax: Contact Telephone No: Contact Address: PRODUCTS LIMITED Suburb: PO BOX 17528 City/Town: SUMNER CHRISTCHURCH Post Code:8840 Country: New Zealand Person Acting on behalf of: First Name: ALAIN Middle Names: ROGER Last Name: BOURGOGNE Email Address: Fax: Contact Telephone No: Contact Address: PO BOX 1059 Suburb: SHORTLAND STREET City/Town: AUCKLAND Post Code:1140 Country: New Zealand COLLATERAL (Current) Collateral Type: All Present And After Acquired Personal Property Collateral History Description: Perfected security interest in all present and after acquired property of TRANSCONTINENTAL FOREST PRODUCTS LIMITED COLLATERAL (Removed) No removed collateral found SECURED PARTY Organisation Name: BANK OF NEW ZEALAND Email Address: LendingServices_PPSR@bnz.co.nz Fax: +64(9)367-1789 Contact Telephone No: (9) 367-1783 Contact Address:30 MAHUHU CRESCENT Suburb: LEVEL 2 City/Town: AUCKLAND Post Code:1010 Country: New Zealand Mailing Address: LENDING SERVICES Suburb: PRIVATE BAG 92089 City/Town: AUCKLAND Post Code:1142 Country: New Zealand Person Acting on behalf of: First Name: PPSR Middle Names: Last Name: ENQUIRIES Email Address: LendingServices_PPSR@bnz.co.nz Fax:+64(9)367-1789 Contact Telephone No: (09)367-1783 Contact Address: LEVEL 2 Suburb:30 MAHUHU CRESCENT City/Town: AUCKLAND Post Code:1010 Country: New Zealand Mailing Address: LENDING SERVICES Suburb: PRIVATE BAY 92089 City/Town: AUCKLAND Post Code:1142 Country: New Zealand
Comments	It is generally not the policy of local banks to provide credit status information to non-bona fide applications, and interested parties would be advised to consult first with the Subject if banker's references are required.
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 and we were unable to contact the Company for any information.
OPERATIONS & HISTORY
Activities
Full description:	The Subject is engaged in importing and exporting of forest and timber products. It also provides forestry and farming consulting services.
PROPERTY & ASSETS
Premises	The Subject principally operates from premises located at the heading address, consisting of administrative offices.
PAYMENTS
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.
INVESTIGATIVE NOTES
Sources:		Official and local business sources

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.65.45
UK Pound	1	Rs.100.96
Euro	1	Rs.72.10

INFORMATION DETAILS

Analysis Done by :	HNA
Report Prepared by :	TRU

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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