MIRA INFORM REPORT

Report No. :	511212
Report Date :	31.05.2018

IDENTIFICATION DETAILS

Name :	MACAULAY METALS LIMITED
Formerly Known As :	W MACAULAY LIMITED
Registered Office :	45 Seaview Road, Lower Hutt, Wellington
Country :	New Zealand
Date of Incorporation :	24.11.1995
Com. Reg. No.:	664874
Legal Form :	Private Limited Liability Company
Line of Business :	The Subject is engaged in purchasing recycling materials and raw scrap metals; ferrous and non-ferrous including aluminium, copper and stainless steel from industrial suppliers, scrap metal dealers and the public.
No. of Employees :	85

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 :	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	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.

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:	MACAULAY METALS LIMITED
Address:	45 Seaview Road Lower Hutt		Postal address:	PO Box 38302 Lower Hutt
Town:	Wellington		Town:	Wellington
Zip/postal code:	5010		Zip/postal code:	5045
Country:	New Zealand
Telephone:	+64 (4) 5892222 / 5686507
Mobile phone:	+64 212458408 (Mr. Jeffrey Bruce Harris)
Fax:	+64 (4) 5892223 / 5687312
Email:	scrap@macaulaymetals.co.nz jeff.harris@macaulaymetals.co.nz
Website:	www.macaulaymetals.co.nz
EXECUTIVE SUMMARY
Date registered:	24-11-1995
Legal form:	Private Limited Liability Company
Main activities:	Provision of scrap metal recycling business.
Employees:	85 (estimated)
REGISTRY DATA
Key Facts
Date registered:	24-11-1995
Legal form:	Private Limited Liability Company
Registration no:	664874
Registry auth.:	Registrar of Companies
Other reg.:	NZBN: 9429038532177
Registry status:	Live/Active
Previous names:	W MACAULAY LIMITED until 01-10-2010.
LEGAL FILINGS
Bankruptcy filings:	None
Court judgements:	None
Tax liens:	None
Other:	None
MANAGEMENT & STAFF
Key Managers
Name:	Jeffrey Bruce Harris
Job title:	Managing Director
Name:	Glen Jacobs
Job title:	Central Operations Manager
Name:	Rebecca Green
Job title:	Exports Manager
Name:	Rachel Lavis
Job title:	Financial Manager
Staff
No of employees	85 (estimated)
BOARD OF DIRECTORS / OTHER APPOINTMENTS
Appointments
Name:	Jeffrey Bruce Harris
Board function:	Managing Director
Date appointed:	24-11-1995
Address:	63 Colway Street, Ngaio Wellington 6035 New Zealand
SHARE CAPITAL
Composition
Number/type:	500,000 shares
Shareholders/Owners
How Listed	Full List
Composition
Name:	Jeffrey Bruce Harris Matthew Charles Hay (Joint shareholding)
% of shares:	100%
Address:	63 Colway Street, Ngaio Wellington 6035 New Zealand
CORPORATE AFFILIATIONS
Structure
Name:	HLT INVESTMENTS LIMITED
Affiliation type:	Associate
Address:	1/197 Muritai Road Eastbourne Lower Hutt 5013 New Zealand
Name:	MACAULAY PROPERTIES LIMITED
Affiliation type:	Associate
Address:	45 Seaview Road Lower Hutt New Zealand
Name:	RETREVA LIMITED
Affiliation type:	Associate
Address:	45 Seaview Road Lower Hutt New Zealand
BANKING & FINANCING
Bankers
Bank name:	ASB BANK LIMITED
Address:	New Zealand
Charges & Mortgages	Time of Registration: 02-Sep-2003 13:22 Debtor Name: MACAULAY METALS LTD Financing Statement Registration No: FR3BC0785236J4Y2/C0006 Incorporation No: 664874 City/Town: Lower Hutt Collateral Type: Goods - Other Time of Registration: 25-Nov-2010 13:02 Debtor Name: MACAULAY METALS LTD Financing Statement Registration No: FM239875JV7PN824/C0001 Incorporation No: 664874 City/Town: WELLINGTON Collateral Type: Goods - Other Time of Registration: 16-May-2011 16:14 Debtor Name: MACAULAY METALS LTD Financing Statement Registration No: F60VD0E9764M3474/C0002 Incorporation No: 664874 City/Town: WELLINGTON MAIL CENTRE Collateral Type: All Present And After Acquired Personal Property; Goods - Other Time of Registration: 21-Aug-2012 09:53 Debtor Name: MACAULAY METALS LTD Financing Statement Registration No: FE069S6M70Y979A9/C0001 Incorporation No: 664874 City/Town: Lower Hutt Collateral Type: Goods - Other Time of Registration: 26-Jun-2013 10:14 Debtor Name: MACAULAY METALS LTD Financing Statement Registration No: F43HT1Z222T9292Z Incorporation No: 664874 City/Town: Hutt City Collateral Type: Goods - Other Time of Registration: 11-Nov-2013 15:27 Debtor Name: MACAULAY METALS LTD Financing Statement Registration No: F90RX8989BZ90S92/C0001 Incorporation No: 664874 City/Town: Rotorua Collateral Type: Goods - Other Time of Registration: 19-Dec-2013 01:50 Debtor Name: MACAULAY METALS LTD Financing Statement Registration No: F7752RP262R9J1C5 Incorporation No: 664874 City/Town: Lower Hutt Collateral Type: Goods - Other Time of Registration: 25-Jul-2014 13:53 Debtor Name: MACAULAY METALS LTD Financing Statement Registration No: F70KA18RC6052289 Incorporation No: 664874 City/Town: Wellington Collateral Type: All Present And After Acquired Personal Property; Goods - Motor Vehicles Time of Registration: 16-Mar-2015 15:12 Debtor Name: MACAULAY METALS LTD Financing Statement Registration No: F90J2J1Y5J81959F/C0003 Incorporation No: 664874 City/Town: Wellington Collateral Type: Goods - Other Time of Registration: 16-Apr-2015 14:21 Debtor Name: MACAULAY METALS LTD Financing Statement Registration No: FM044BV09B869Z27 Incorporation No: 664874 City/Town: Rotorua Collateral Type: Goods - Other Time of Registration: 24-Jul-2015 16:04 Debtor Name: MACAULAY METALS LTD Financing Statement Registration No: FN0F3H2916447BY2 Incorporation No: 664874 City/Town: Lower Hutt Collateral Type: All Present And After Acquired Personal Property Time of Registration: 27-Jul-2015 16:19 Debtor Name: MACAULAY METALS LTD Financing Statement Registration No: F3746WR09ZP5199D Incorporation No: 664874 City/Town: Lower Hutt Collateral Type: Goods - Motor Vehicles Time of Registration: 27-Jul-2015 16:36 Debtor Name: MACAULAY METALS LTD Financing Statement Registration No: FA7C74262J19K5C0 Incorporation No: 664874 City/Town: Lower Hutt Collateral Type: Goods - Motor Vehicles Time of Registration: 27-Jul-2015 16:37 Debtor Name: MACAULAY METALS LTD Financing Statement Registration No: FJ095U52Y690AK92 Incorporation No: 664874 City/Town: Lower Hutt Collateral Type: Goods - Motor Vehicles Time of Registration: 27-Jul-2015 16:38 Debtor Name: MACAULAY METALS LTD Financing Statement Registration No: F32R3667E0VD3126 Incorporation No: 664874 City/Town: Lower Hutt Collateral Type: Goods - Motor Vehicles Time of Registration: 27-Jul-2015 16:40 Debtor Name: MACAULAY METALS LTD Financing Statement Registration No: F40299N3V528K9P1 Incorporation No: 664874 City/Town: Lower Hutt Collateral Type: Goods - Motor Vehicles Time of Registration: 27-Jul-2015 17:01 Debtor Name: MACAULAY METALS LTD Financing Statement Registration No: F25M22R22576MH1B Incorporation No: 664874 City/Town: Lower Hutt Collateral Type: Goods - Motor Vehicles Time of Registration: 27-Jul-2015 17:03 Debtor Name: MACAULAY METALS LTD Financing Statement Registration No: FJ1H6T83981DR699 Incorporation No: 664874 City/Town: Lower Hutt Collateral Type: Goods - Motor Vehicles Time of Registration: 27-Jul-2015 17:04 Debtor Name: MACAULAY METALS LTD Financing Statement Registration No: FP04X3Z2321D729U Incorporation No: 664874 City/Town: Lower Hutt Collateral Type: Goods - Motor Vehicles Time of Registration: 27-Jul-2015 17:05 Debtor Name: MACAULAY METALS LTD Financing Statement Registration No: FH78299DM81B97M1 Incorporation No: 664874 City/Town: Lower Hutt Collateral Type: Goods - Motor Vehicles
Comments	It is generally not the policy of local banks to provide credit status information to non-bona fide applications, and interested parties would be advised to consult first with the Subject if banker's references are required.
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 purchasing recycling materials and raw scrap metals; ferrous and non-ferrous including aluminium, copper and stainless steel from industrial suppliers, scrap metal dealers and the public.
Products/services:	Services: - Buying, selling and exporting scrap metal - Brokering scrap metal deals - Managing entire demolition projects from plant and equipment removals to large scale site clearance
Trade Bodies	Scrap Metal Recycling Association of New Zealand (SMRANZ)
PROPERTY & ASSETS
Premises	The Subject principally operates from premises located at the heading address, consisting of production facilities, a warehouse and administrative offices.
Branches	24 Malden Street Palmerston North New Zealand 73 Old Taupo Road Rotorua New Zealand 147A Commerce Street Whakatane New Zealand
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 an provided by the Subject Other official and local business sources

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.63
UK Pound	1	INR 89.70
Euro	1	INR 78.20
NZD	1	INR 47.11

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

INFORMATION DETAILS

Analysis Done by :	NIY
Report Prepared by :	KET

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.