MARAC Corporate Profile
MARAC, also known as Manufacturing and Retailers Acceptance Corporation, is one of New Zealand's largest finance companies, which gives the advantage of economies of scale and diversity that smaller, newer finance companies may not have.
MARAC is wholly New Zealand-owned and operated. It is a financial services subsidiary of Pyne Gould Corporation Limited, which listed on the New Zealand Exchange Limited's NZSX in 2004.
Pyne Gould Corporation's history stretches back to 1851, when the founders of its long-established stock and station subsidiary, Pyne Gould Guinness Limited, started business in Christchurch.MARAC's own story began in 1952 with the establishment of Allied Finance, with various companies coming together to make up what is now MARAC Finance.
Executive Management Team
Get to know MARAC's six-strong executive management team. They share an enormous amount of knowledge and experience in the finance industry.* Brian Jolliffe
* Chris Flood
* Grant Atkinson
* Chris Wilkinson
* Allan Williams
* David Battersby
Standard & Poor's Credit Rating For MARAC
BBB- Investment Grade
New Zealand witnessed a spate of finance companies getting into difficulties in 2007. In fact, five finance companies collapsed in the three weeks following on from the $500 million failure of Bridgecorp in July, 2007. In total nine finance companies went under in the 2007, owing an estimated $1.1billion to investors, many of which were ordinary hardworking folks saving for retirement.Although the financial dominos appear to have ceased falling, there is a real danger that future collapses could be caused by a lack of investor confidence rather than bad lending practices. So how do investors take all of the possible steps to protect their money?
The key to protecting your hard earned money is to invest with a company who holds an independently certified quality rating such as those awarded by Standard & Poor's.
Standard & Poor's follow a stringent process to asses a finance company's credit rating it includes a detailed financial analysis covering such things as asset quality, funding & liquidity, profitability & capitalisation. This rigorous examination results in an overall rating ranging from AAA (extremely strong) through to CC (highly vulnerable). Only companies with BBB- rating or above are considered of sufficient quality to be investment grade, the rest are considered speculative.
MARAC is New Zealand's first non-bank owned & operated finance company to achieve an investment grade credit rating from Standard & Poor's.
MARAC's rating is BBB-. This is an independent assessment of MARAC's quality, carried out by the leading international credit rating company.
For the detailed report, see S&P Report.
MARAC Location
MARAC Finance Ltd head office is based in Auckland, New Zealand. Use finda.co.nz to see the rest of its office locations around NZ.For additional contact info, you can also visit MARAC Finance website
Non-Bank Finance Institutions NZ Trust
MARAC Finance Investment Special Offer
Reader Feedback
|
WiseInvestor
Here are some recent MARAC related articles; Posted June 18, 2008 |
|
MrCruise
Marac sound like a great company. Will have to check them out when I want to invest next. Posted February 20, 2008 |
|
radders007
I've been investing with MARAC for over 2 years now. Easy to set up, better rates than any bank and really nice to work with! Posted January 23, 2008 |
|
connienjim
Interesting profile. We've been wondering who to start our retirement planning with! Posted January 23, 2008 |
|
OfficeRocket
MARAC definitely appear to be a sound investment. You have some interesting information here. I'll definitely check MARAC out for future investment opportunities. Posted January 23, 2008 |
|
|
skatcat
That's a pretty useful overview about Marac. Like many I'm currently reducing my sharemarket exposure & looking around for more secure investment alternatives. NZ commercial & residential property opportunities are still limited due to an overpriced market in my opinion. So its probably term deposits with banks or finance companies. Banks are more secure but lower returns. After the spate of finance company collapses last year I'll only consider ones like Marac & a couple of others with a decent S&P rating. Posted January 22, 2008 |
