MIRA INFORM REPORT

Report No. :	485896
Report Date :	18.01.2018

IDENTIFICATION DETAILS

Name :	DILLIGENT ENTERPRISES LIMITED
Registered Office :	13 Milano Boulevard, Karaka, Papakura 2113
Country :	New Zealand
Date of Incorporation :	12.12.2014
Com. Reg. No.:	5511991
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Air Freshener.
No. of Employees :	Less than 10

RATING & COMMENTS

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

MIRA’s Rating :

B

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

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

Country Name	Previous Rating (30.06.2017)	Current Rating (30.09.2017)
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.

The economy fell into recession before the start of the global financial crisis and contracted for five consecutive quarters in 2008 and 2009. 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 from 2011 to 2016. Nevertheless, key trade sectors remain vulnerable to weak external demand and lower commodity prices. In the aftermath of the 2010 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. Expanding New Zealand’s network of free trade agreements remains a top foreign policy priority.

Source : CIA

IDENTIFICATION
Comments:	The given name is the brand name for Subject.
Verified
Subject name:	DILLIGENT ENTERPRISES LIMITED
Address:	13 Milano Boulevard, Karaka		Postal address:	PO Box 202226, Southgate
Town:	Papakura		Town:	Auckland
Zip/postal code:	2113		Zip/postal code:	2246
Country:	New Zealand
Mobile phone:	+64 211807499
Email:	info@airteroa.com
Website:	www.airteroa.com
EXECUTIVE SUMMARY
Date registered:	12-12-2014
Legal form:	Private Limited Liability Company
Main activities:	Manufacturer and exporter of air freshener.
Employees:	Less than 10
REGISTRY DATA
Key Facts
Date registered:	12-12-2014
Legal form:	Private Limited Liability Company
Registration no:	5511991
Registry auth.:	Registrar of Companies
Tax number:	NZBN: 9429041517475
Registry status:	Live/Active
LEGAL FILINGS
Bankruptcy filings:	None
Court judgements:	None
Tax liens:	None
Other:	None
MANAGEMENT & STAFF
Key Managers
Name:	Lynn Kathleen Dill-Russell
Job title:	Director
Name:	Ryan Charl Dill-Russell
Job title:	Director
Name:	Tyler Marc Dill-Russell
Job title:	Director
Staff
No of employees	Less than 10
BOARD OF DIRECTORS/ OTHER APPOINTMENTS
Appointments
Name:	Lynn Kathleen Dill-Russell
Board function:	Director
Date appointed:	12-12-2014
Address:	13 Milano Boulevard, Karaka Papakura, 2113 New Zealand
Name:	Ryan Charl Dill-Russell
Board function:	Director
Date appointed:	12-12-2014
Address:	13 Milano Boulevard, Karaka Papakura, 2113 New Zealand
Name:	Tyler Marc Dill-Russell
Board function:	Director
Date appointed:	12-12-2014
Address:	13 Milano Boulevard, Karaka Papakura, 2113 New Zealand
SHARE CAPITAL
Composition
Number/type:	1,000 shares
Shareholders/Owners
How Listed	Full List
Composition
Name:	Lynn Kathleen Dill-Russell
No. of shares:	334 shares
Address:	13 Milano Boulevard, Karaka Papakura, 2113 New Zealand
Name:	Ryan Charl Dill-Russell
No. of shares:	333 shares
Address:	13 Milano Boulevard, Karaka Papakura, 2113 New Zealand
Name:	Tyler Marc Dill-Russell
No. of shares:	333 shares
Address:	13 Milano Boulevard, Karaka Papakura, 2113 New Zealand
CORPORATE AFFILIATIONS
Comments	None reported.
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 export of canned air freshener filled with fresh pure New Zealand air collected from the pure unpolluted mountains in the Southern Alps.
Brands:	AIRTEROA
Sales
Export:	China, Korea, India, Hong Kong and Vietnam.
PROPERTY & ASSETS
Premises	The Subject's head office is located at the heading address.
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:	As trade references were not supplied, the Subject's payment track record history CANNOT BE ACCURATELY DETERMINED.
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 63.98
UK Pound	1	INR 88.13
Euro	1	INR 78.35
NZD	1	INR 46.54

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.