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MIRA
INFORM REPORT
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Report No. : |
506504 |
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Report Date : |
04.05.2018 |
IDENTIFICATION DETAILS
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Name : |
HERMES NZ LIMITED |
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Formerly Known As : |
HERMES GLOVES LIMITED |
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Registered Office : |
Level 2, 161 Manukau Road, Epsom, 1023 Auckland |
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Country : |
New Zealand |
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Date of Incorporation : |
25.05.1944 |
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Com. Reg. No.: |
44966 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
The Subject is engaged in sale of consumer’s products mainly bags related
such as handbags, luggage as well as the other related accessories and
products. |
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No. of Employees : |
10 (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 : |
Unknown |
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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: |
Mt. Wellington |
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Town: |
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Country: |
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Telephone: |
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Email: |
chris.burton@hermesnz.com |
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Website: |
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Remarks: |
The Subject's
registered address is: Level 2, 161 Manukau Road, Epsom 1023 Auckland 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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REGISTRY DATA |
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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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Previous names: |
Present style
adopted on 26-09-2013. |
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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: |
Christopher John Burton |
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Job title: |
Director |
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Name: |
Malcolm David Burton |
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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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Apartment 325, 221 Abbotts Way, Remuera Auckland, 1050 New Zealand |
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Name: |
Christopher John Burton |
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Board function: |
Director |
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Date appointed: |
29-09-1995 |
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Address: |
20 Sage Road, Kohimaram Auckland, 1071 New Zealand |
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Name: |
Malcolm David Burton |
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Board function: |
Director |
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Date appointed: |
12-07-2011 |
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Address: |
11 Hilltop Street, Remuera Auckland, 1050 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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CORPORATE AFFILIATIONS |
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BANKING & FINANCING |
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Time of Registration/PPSR Registration
Date: 22-Mar-2018 01:41 Debtor Name: HERMES NZ LIMITED Financing Statement Registration No.: FR436SX59B38T022 Org Type: Company Incorporation No: 44966 City/Town: Auckland Collateral Type: Goods - Other Time of Registration/PPSR Registration Date: 24-Nov-2016 01:40 Debtor Name: HERMES NZ LIMITED Financing Statement Registration No.: F90YH3092J95M67V Org Type: Company Incorporation No: 44966 City/Town: Auckland Collateral Type: Goods - Other Time of Registration/PPSR Registration Date: 11-Nov-2016 01:40 Debtor Name: HERMES NZ LIMITED Financing Statement Registration No.: F24328ZH50PD0J92 Org Type: Company Incorporation No: 44966 City/Town: Auckland Collateral Type: Goods - Other Time of Registration/PPSR Registration Date: 04-Nov-2016 15:52 Debtor Name: HERMES NZ LIMITED Financing Statement Registration No.: FZ6V59587B16HP81 Org Type: Company Incorporation No: 44966 City/Town: Auckland Collateral Type: Goods - Other Time of Registration/PPSR Registration Date: 03-Nov-2016 01:40 Debtor Name: HERMES NZ LIMITED Financing Statement Registration No.: FM06R3Z142P45B95 Org Type: Company Incorporation No: 44966 City/Town: Auckland Collateral Type: Goods - Other Time of Registration/PPSR Registration Date: 11-May-2012 14:50 Debtor Name: HERMES NZ LIMITED Financing Statement Registration No.: F60E57F0VW06M324/C0002 Org Type: Company Incorporation No: 44966 City/Town: Auckland Collateral Type: All Present And After Acquired Personal Property Time of Registration/PPSR Registration Date:17-Aug-2010 15:16 Debtor Name: HERMES NZ LIMITED Financing Statement Registration No.: 15T4P0MX04A829/C0002 Org Type: Company Incorporation No: 44966 City/Town: Auckland Collateral Type: All Present And After Acquired Personal Property |
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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 sale of consumer’s
products mainly bags related such as handbags, luggage as well as the other
related accessories and products. |
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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: |
Credits 30 days
net |
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Local: |
Credits 14-30 days |
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Exports: |
Credits 30 days
net |
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INVESTIGATIVE NOTES
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Sources: |
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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 66.61 |
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1 |
INR 90.60 |
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Euro |
1 |
INR 79.86 |
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NZD |
1 |
INR 46.86 |
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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VAR |
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Report Prepared
by : |
SYL |
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.