MIRA INFORM REPORT

Report No. :	503200
Report Date :	25.04.2018

IDENTIFICATION DETAILS

Name :	PRISTINE BIOLOGICALS (NZ) LIMITED

Registered Office :	J B S Accounting Limited, 12 Temuri Place, Glendene, 0602 Auckland

Country :	New Zealand

Date of Incorporation :	03.10.2014

Com. Reg. No.:	5474063

Legal Form :	Private Limited Liability Company

Line of Business :	The Subject is engaged in the manufacture and supply of New Zealand premium bovine serum free of FMD/BSE/TSE/ all list A diseases.

No. of Employees :	Not available

RATING & COMMENTS

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

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate

Payment Behaviour :	Slow but Correct

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

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

IDENTIFICATION
Verified
Subject name:	PRISTINE BIOLOGICALS (NZ) LIMITED
Address:	8 Mako Street
Town:	Dargaville
Zip/postal code:	0602
Country:	New Zealand
Telephone:	+64 (9) 8353847
Email:	info@pristine.co.nz
Website:	www.pristine.co.nz www.indimmune.com (Parent)
Remarks:	The Subject's registered address is: J B S ACCOUNTING LIMITED 12 Temuri Place, Glendene 0602 Auckland New Zealand


EXECUTIVE SUMMARY

Date registered:	03-10-2014
Legal form:	Private Limited Liability Company
Main activities:	Manufacturer of New Zealand premium bovine serum.
Employees:	Undetermined


REGISTRY DATA
Key Facts
Date registered:	03-10-2014
Legal form:	Private Limited Liability Company
Registration no:	5474063
Registry auth.:	Registrar of Companies
Tax number:	NZBN: 9429041429051
Registry status:	Live/Active


LEGAL FILINGS

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


MANAGEMENT & STAFF
Key Managers
Name:	Anand Kumar Kanakasapapathy
Job title:	Director

Name:	Dilip Rath
Job title:	Director

Name:	Prasanna Avinash Deshpande
Job title:	Director

Name:	Vijaya Kumar Dasari
Job title:	Director

Staff
No of employees	Undetermined


BOARD OF DIRECTORS / OTHER APPOINTMENTS
Appointments
Name:	Anand Kumar Kanakasapapathy
Board function:	Director
Date appointed:	03-10-2014
Address:	Flat No 601, A Block, Casa Rouge, Kondapur Hyderabad, 500084 Telangana India

Name:	Dilip Rath
Board function:	Director
Date appointed:	19-09-2016
Address:	A1 Nddb Campus Anand, 388001 Gujarat India

Name:	Prasanna Avinash Deshpande
Board function:	Director
Date appointed:	12-03-2018
Address:	Flat No 3, Swarada Residency 236 Jyoti Nagar Aurangabad 431005 Maharashtra India

Name:	Vijaya Kumar Dasari
Board function:	Director
Date appointed:	09-09-2015
Address:	1286 New North Road Avondale Auckland, 1026 New Zealand


SHARE CAPITAL
Composition
Number/type:	501,000 shares


Shareholders/Owners

How Listed	Full List

Composition
Name:	INDIAN IMMUNOLOGICALS LIMITED
% of shares:	100%
Address:	Road No 44, Jubilee Hills Hyderabad 500033 Telangana India


CORPORATE AFFILIATIONS
Structure
Name:	INDIAN IMMUNOLOGICALS LIMITED
Affiliation type:	Parent Company
Address:	Road No 44, Jubilee Hills Hyderabad 500033 Telangana India


BANKING & FINANCING

Charges & Mortgages	Time of Registration: 08-Jan-2016 15:12 Debtor Name: PRISTINE BIOLOGICALS (NZ) LIMITED Financing Statement Registration No: F5129J5D0F8W1969 Incorporation No: 5474063 City/Town: DARGAVILLE Collateral Type: All Present And After Acquired Personal Property; Goods - Other Time of Registration: 20-Sep-2016 14:55 Debtor Name: PRISTINE BIOLOGICALS (NZ) LIMITED Financing Statement Registration No: FT6M32Z7229SN153 Incorporation No: 5474063 City/Town: DARGAVILLE Collateral Type: All Present And After Acquired Personal Property; Goods - Motor Vehicles; Goods - Other Time of Registration: 21-Jun-2017 01:43 Debtor Name: PRISTINE BIOLOGICALS (NZ) LIMITED Financing Statement Registration No: FN192SP0354593ED Incorporation No: 5474063 City/Town: DARGAVILLE Collateral Type: Goods - Other


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.


OPERATIONS & HISTORY
Activities
Full description:	The Subject is engaged in the manufacture and supply of New Zealand premium bovine serum free of FMD/BSE/TSE/ all list A diseases.
Products/services:	Adult bovine serum New born calf serum Fetal bovine serum Bovine hemoglobin


PROPERTY & ASSETS

Premises	The Subject principally operates from premises located at the heading address, consisting of production facilities, a warehouse and administrative offices.


PAYMENTS
Purchase Terms
Local:	Cash Credits 14-30 days
Imports:	Credits 30 days net

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

Debt Collections / Judgements	No negative information was found.

Payment Experience
Payment behaviour:	Slow but correct


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	INR 65.68
UK Pound	1	INR 93.98
Euro	1	INR 81.30
NZD	1	INR 48.15

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

INFORMATION DETAILS

Analysis Done by :	PRI

Report Prepared by :	SYL

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.