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MIRA INFORM REPORT
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Report No. : |
510393 |
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Report Date : |
25.05.2018 |
IDENTIFICATION DETAILS
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Name : |
NITROSOL LIMITED |
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Formerly Known As : |
RURAL RESEARCH LIMITED |
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Registered Office : |
Ecovis Kga Limited, Level 2, 5-7 Kingdon Street, Newmarket, 1023
Auckland |
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Country : |
New Zealand |
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Date of Incorporation : |
25.05.2011 |
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Com. Reg. No.: |
3395415 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
The Subject is engaged in manufacturing and distributing of fertilisers
to farmers and growers. |
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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 : |
Slow but Correct |
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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: |
East Tamaki |
Postal address: |
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Town: |
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Zip/postal code: |
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Telephone: |
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Fax: |
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Email: |
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Website: |
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Remarks: |
The Subject's registered address is: ECOVIS KGA LIMITED Level 2, 5-7 Kingdon Street Newmarket 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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Registration no: |
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Tax number: |
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Registry status: |
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Previous names: |
The Subject initially operated under the name of
RURAL RESEARCH LIMITED and changed to the present style on 08-07-2015. |
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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: |
Paul Gregory Whitley |
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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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Whitford Auckland, 2571 New Zealand |
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Name: |
Paul Gregory Whitley |
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Board function: |
Director |
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Date appointed: |
25-05-2011 |
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Address: |
302, Clifton Road Whitford Auckland, 2571 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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Paul Gregory Whitley WHITLEY TURTLE TRUSTEES LIMITED (Joint shareholding) |
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Paul Gregory
Whitley 302, Clifton
Road Whitford Auckland, 2571 New Zealand WHITLEY TURTLE
TRUSTEES LIMITED Level 2, 5-7
Kingdon Street Newmarket Auckland, 1023 New Zealand |
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Name: |
Paul Gregory
Whitley |
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No. of shares: |
1 share |
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% of shares: |
1.00% |
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Address: |
302, Clifton
Road Whitford Auckland, 2571 New Zealand |
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Name: |
Aynsley Francis
Whitley |
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No. of shares: |
1 share |
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% of shares: |
1.00% |
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Address: |
302, Clifton
Road Whitford Auckland, 2571 New Zealand |
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CORPORATE AFFILIATIONS |
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Name: |
WHITLEY TURTLE TRUSTEES LIMITED |
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Affiliation
type: |
Shareholder |
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Address: |
Level 2, 5-7
Kingdon Street Newmarket Auckland, 1023 New Zealand |
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Name: |
AGMAX INDUSTRIES LIMITED |
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Affiliation
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Associate |
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Address: |
New Zealand |
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BANKING & FINANCING |
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Time of Registration: 12-Dec-2017 17:12 Debtor Name: NITROSOL LIMITED Financing Statement Registration No: FB0452T9295S0NP2 Incorporation No: 3395415 City/Town: HIGHBROOK MANUKAU Collateral Type: Goods - Other Time of Registration: 01-Jun-2011 13:23 Debtor Name: NITROSOL LIMITED Financing Statement Registration No: F71PV21RD8N72548/C0002 Incorporation No: 3395415 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 manufacturing
and distributing fertilisers to farmers and growers through New Zealand and
offshore. |
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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 days |
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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: |
Material published by the Subject Other official
and local business 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 68.39 |
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1 |
INR 91.44 |
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Euro |
1 |
INR 80.14 |
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NZD |
1 |
INR 46.95 |
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 : |
NIT |
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
·
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.