MIRA INFORM REPORT

Report No. :	504706
Report Date :	25.04.2018

IDENTIFICATION DETAILS

Name :	J S BROOKSBANK LIMITED
Registered Office :	30 Sir William Pickering Drive, Burnside, 8053 Christchurch
Country :	New Zealand
Financials (as on) :	31.12.2016 (Group - Consolidated)
Date of Incorporation :	09.06.2014
Com. Reg. No.:	5285341
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Wool Related Products.
No. of Employees :	Less than 20 (Subject – Estimated)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
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 40 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 10 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 and 2008. The higher rate attracted international capital inflows, which strengthened the currency and housing market while aggravating the current account deficit. Rising house prices, especially in Auckland, have become a political issue in recent years, as well as a policy challenge in 2016 and 2017, as the ability to afford housing has declined for many.

Expanding New Zealand’s network of free trade agreements remains a top foreign policy priority. New Zealand was an early promoter of the Trans-Pacific Partnership (TPP) and was the second country to ratify the agreement in May 2017. Following the United States’ withdrawal from the TPP in January 2017, on 10 November 2017 the remaining 11 countries agreed on the core elements of a modified agreement, which they renamed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). In November 2016, New Zealand opened negotiations to upgrade its FTA with China; China is one of New Zealand’s most important trading partners.

Source : CIA

Company name and address

IDENTIFICATION
Verified
Subject name:	J S BROOKSBANK LIMITED
Address:	Inspire House, Level 3 125 Featherston Street		Postal address:		PO Box 704
Town:	Wellington		Town:		Wellington
Zip/postal code:	6011		Zip/postal code:		6140
Country:	New Zealand
Telephone:	+64 (4) 3851055
Fax:	+64 (4) 3844634
Email:	jsb@jsbrooksbank.co.nz
Website:	www.jsbrooksbank.co.nz www.woolserv.co.nz (Parent) www.chinaruyi.com (Group)
Remarks:	The Subject's registered address is: 30 Sir William Pickering Drive Burnside 8053 Christchurch New Zealand
EXECUTIVE SUMMARY
Date registered:	09-06-2014
Legal form:	Private Limited Liability Company
Sales turnover:	NZD 249,633,000 (Group consolidated 12 months, 31-12-2016)
Main activities:	Trade of wool related products.
Employees:	Less than 20 (Subject - Estimated)
REGISTRY DATA
Key Facts
Date registered:	09-06-2014
Legal form:	Private Limited Liability Company
Registration no:	5285341
Registry auth.:	Registrar of Companies
Other reg.:	NZBN: 9429041270783
Registry status:	Live/Active
LEGAL FILINGS
Bankruptcy filings:	None
Court judgements:	None
Tax liens:	None
Other:	None
MANAGEMENT & STAFF
Key Managers
Name:	John William Dawson
Job title:	Director
Staff
No of employees	Less than 20 (Subject - Estimated)
BOARD OF DIRECTORS / OTHER APPOINTMENTS
Appointments
Name:	John William Dawson
Board function:	Director
Address:	130 Whites Road, Rd 2 Kaiapoi, 7692 New Zealand
SHARE CAPITAL
Composition
Number/type:	100 shares
Shareholders/Owners
How Listed	Full List
Composition
Name:	NEW ZEALAND WOOL SERVICES INTERNATIONAL LIMITED
No. of shares:	100 shares
Address:	New Zealand
CORPORATE AFFILIATIONS
Structure
Name:	SHANDONG RUYI INTERNATIONAL FASHION INDUSTRY INVESTMENT HOLDING CO., LTD
Affiliation type:	Ultimate Holding Company
Address:	China
Comment:	Also known as SHANDONG RUYI INTERNATIONAL FASHION INDUSTRY INVESTMENT HOLDINGS CO., LTD. previously known as JINING RUYI INVESTMENT CO., LTD
Name:	SHANDONG RUYI TECHNOLOGY GROUP CO., LTD
Affiliation type:	Intermediate Holding Company
Address:	China
Comment:	Also known as SHANDONG RUYI TECHNOLOGY GROUP CO., LTD.
Name:	LEMPRIERE (AUSTRALIA) PTY LTD
Affiliation type:	Holding Company
Address:	Australia
Name:	NEW ZEALAND WOOL SERVICES INTERNATIONAL LIMITED
Affiliation type:	Parent Company
Address:	New Zealand
Name:	KAPUTONE WOOL SCOUR (1994) LIMITED
Affiliation type:	Associate
Address:	New Zealand
Name:	RAYMOND DALE WOOL MARKETING LIMITED
Affiliation type:	Associate
Address:	New Zealand
Name:	WHAKATU WOOL SCOUR LIMITED
Affiliation type:	Associate
Address:	New Zealand
BANKING & FINANCING
Charges & Mortgages	Time of Registration/ PPSR Registration Date:29-Nov-2017 16:31 Debtor Name: J S BROOKSBANK LIMITED Financing Statement Registration No.: F22HN1PZ95691589 Incorporation No: 5285341 City/Town: Victoria Collateral Type: All Present And After Acquired Personal Property Time of Registration/ PPSR Registration Date:30-Jun-2015 15:26 Debtor Name: J S BROOKSBANK LIMITED Financing Statement Registration No.:F814TF283XX09J44 Incorporation No: 5285341 City/Town: Wellington Collateral Type: Goods - Other
FINANCIAL ACCOUNTS
Description
Required to file:	No
Source:	Group Consolidated Statements
Presentation:	Attached to this report / Summarised below
Date of accounts:	31-12-2016
Type of accounts:	Full audited
Currency:	New Zealand Dollar (NZD)
Summarised
	31-12-2016			31-12-2015
Consolidation:	Group consolidated			Group consolidated
Period:	12 months			12 months
Sales turnover:	249,633,000			299,936,000
Profit before tax:	2,289,000			3,918,000
Profit after tax:	1,390,000			2,588,000
Non-current assets:	15,976,000			16,869,000
Current assets:	81,950,000			73,573,000
Total assets:	97,926,000			90,442,000
Current liabilities:	79,071,000			71,869,000
Non-curr. liabilities:	674,000			82,000
Total liabilities:	79,745,000			71,951,000
Shareholders' equity:	18,181,000			18,491,000
Comments	Financial information of the Subject was not available. The above group consolidated figures relate to the Subject's Parent Company NEW ZEALAND WOOL SERVICES INTERNATIONAL LIMITED and its subsidiaries.
OPERATIONS & HISTORY
Activities
Full description:	The Subject is engaged in trade of wool products, mainly specialising in greasy wool exports as well as scoured wool products.
PROPERTY & ASSETS
Premises	The Subject principally operates from premises located at the heading address, consisting of administrative offices.
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:		Information and material published by the Subject / Group Other official and local business sources
ATTACHMENTS
Attachments:		Group consolidated financial statements

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.36
UK Pound	1	INR 92.51
Euro	1	INR 81.05
NZD	1	INR 47.28

Note: Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VAR
Report Prepared by :	NIT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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