MIRA
INFORM REPORT
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Report Date : |
14.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
CHEMPURE (PTY) LTD |
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Registered Office : |
Room 225, Building 41 CSIR, Meiring Naude Road, Scientia, Pretoria, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
12 August 1999 |
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Com. Reg. No.: |
1999/017352/07 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Marketing of powder and liquid chemicals |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
CHEMPURE (PTY) LTD
PHYSICAL ADDRESS
Room 225
Building 41 CSIR
Meiring Naude Road
Scientia
PRETORIA
Gauteng
POSTAL ADDRESS
P O Box 75403
LYNNWOOD RIDGE
0040
TELEPHONE NUMBER: 012 349 1543
FAX NUMBER: 012 349 1547
SHAREHOLDERS
50% PK SHARE TRUST, in which P KEYTER is a Trustee
50% MS SHARE TRUST, in which DR M SLY is a Trustee
ASSOCIATE COMPANIES
None
DIRECTORS
P KEYTER ID No. 4612075070001
DR M SLY ID No. 5108125111100
BANKERS
FIRST NATIONAL BANK, Lynwood branch, account number 54600033010. It was stated that the subject enjoys overdraft facilities to an extent of R5 million, secured by a cession of debtors. Utilisation is stated to be partial.
DATE REGISTERED
12 August 1999
Registration certificate number 1999/017352/07
The subject converted from a close corporation (Reg. No. 1994/006740/23), which commenced in 1994.
It was stated that P KEYTER was previously the General Manager of DEGUSSA SA (PTY) LTD for approximately 12½ years. Dr Sly is a doctor of biochemistry.
VAT NUMBER
4670141946
MAJOR OPERATION
Marketing of powder and liquid chemicals eg. raw materials, which are used in food and hair products etc. The subject is also an agent for Roche and they have a contract with Roche in Switzerland and also act as agents for other European companies. They deal in nutritional ingredients from North America, China, Japan and India.
MAJOR SUPPLIERS
The subject imports 90% of its supplies and deals locally with:
STURROCK SHIPPING
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Mainly the food, health food, cosmetic and pharmaceutical industries
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
Africa and the Islands
TOTAL EMPLOYEES
16
OTHER PREMISES
The subject is reported to utilise a warehouse in Johannesburg, where they store goods.
OWNED OR LEASED
The premises are reported to be leased
MEMBERS CONTRIBUTION
R100 000
The following
estimated financial situation was submitted:
STOCK approximately R20 000 000
DEBTORS R17 000 000
FIXED ASSETS R 2 000 000
CREDITORS fluctuates on imports R 2 500 000
TURNOVER per month R 7 000 000
AUDITORS
CHARTWELLS
YEAR END
FEBRUARY
INSURANCE COMPANY
COMEX
TRADE REFERENCES – SEPTEMBER 2002
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 07/1997 R100 000 R100 000 7 days 7 days Very good
2. 4 – 5 yrs R
30 000 R 30 000± 30
days 30 days Very good
CURRENT TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 2002 R1 500 000 R1 000 000 7 days 10 days Good
COMMENTS
This is a comparatively new company which converted from an established close corporation. No adverse comments have been heard and the subject is meeting its local commitments over terms. We have not traced dealings to an extent of US$1 500 000 and would prefer to see such dealings spread over 180 days and secured.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)