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MIRA INFORM REPORT
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Report No. : |
504888 |
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Report Date : |
25.04.2018 |
IDENTIFICATION DETAILS
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Name : |
WOOLYARNS LIMITED |
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Registered Office : |
25-27 Eastern Hutt Road, Taita, Lower Hutt, 5019 |
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Country : |
New Zealand |
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Date of Incorporation : |
16.01.1946 |
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Com. Reg. No.: |
4692 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
The subject is engaged in the manufacturing and supply of yarn products
for textile industry. |
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No. of Employees : |
85 (Estimated) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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
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Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
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New Zealand |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
IDENTIFICATION
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Subject name: |
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Address: |
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Town: |
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State/province: |
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Zip/postal code: |
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Fax: |
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Website: |
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Remarks: |
The Subject's registered address is: 25 Eastern Hutt Road 5019 Taita, Lower Hutt New Zealand |
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EXECUTIVE SUMMARY
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Date registered: |
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Legal form: |
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Main activities: |
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Employees: |
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Key Facts |
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Date registered: |
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Legal form: |
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Registration no: |
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Registry auth.: |
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Other reg.: |
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Registry status: |
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LEGAL FILINGS
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Bankruptcy
filings: |
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Court
judgements: |
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Tax liens: |
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Other: |
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MANAGEMENT & STAFF
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Name: |
Craig Thompson |
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Job title: |
Director |
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Name: |
John Gladwyn Morton Spooner |
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Job title: |
Director |
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Name: |
John Kenneth Isles |
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Job title: |
Director |
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Name: |
Neil Stuart Mackie |
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Job title: |
Director |
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No of employees |
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BOARD OF DIRECTORS / OTHER APPOINTMENTS
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Seatoun, Wellington 6022 New Zealand |
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Name: |
Craig Thompson |
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Board function: |
Director |
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Address: |
2G/138 Oriental Parade Oriental Bay, Wellington 6011 New Zealand |
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Name: |
John Gladwyn Morton Spooner |
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Board function: |
Director |
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Address: |
238 Pt Wells Road Pt Wells, Matakana 0986 New Zealand |
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Name: |
John Kenneth Isles |
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Board function: |
Director |
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Address: |
12 Davis Street Thorndon, Wellington 6011 New Zealand |
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Name: |
Neil Stuart Mackie |
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Board function: |
Director |
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Address: |
85 Viewmont Drive Tirohanga, Lower Hutt 5010 New Zealand |
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SHARE CAPITAL
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Composition |
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Number/type: |
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Shareholders/Owners
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Taita, Lower Hutt 5019 New Zealand |
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Name: |
John Kenneth isles Neil Stuart Mackie John Michael Peterson (Joint Shareholding) |
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No. of shares: |
1 share |
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Address: |
New Zealand |
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CORPORATE AFFILIATIONS
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Taita, Lower Hutt 5019 New Zealand |
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BANKING & FINANCING
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FINANCIAL ACCOUNTS
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Required to file: |
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Source: |
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The Subject's financial statements were
not available in the course of our investigation. |
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OPERATIONS & HISTORY
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Full description: |
The Subject is engaged in the
manufacturing and supply of yarn products for textile industry. |
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PROPERTY & ASSETS
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The Subject
principally operates from premises located at the heading address, consisting
of administrative offices. |
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PAYMENTS
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Local: |
Credits 14-30
days |
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Imports: |
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Local: |
Credits 14-30
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Exports: |
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As trade references were not supplied, the
Subject's payment track record history CANNOT BE ACCURATELY DETERMINED, but
payments are believed to be PROMPT. |
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INVESTIGATIVE NOTES
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Sources: |
Interviews and material provided by the Subject Other official
and local business sources |
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ATTACHMENTS
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Attachments: |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.36 |
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1 |
INR 92.50 |
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Euro |
1 |
INR 81.05 |
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NZD |
1 |
INR 47.34 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIY |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on secured
terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.