MIRA
INFORM REPORT
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Report Date : |
12.07.2007 |
IDENTIFICATION DETAILS
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Name : |
UCB (S A) (PTY) LTD |
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Registered Office : |
3rd Floor, Park Terrace, 33 Princess of |
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Country : |
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Date of Incorporation : |
4 December 1957 |
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Com. Reg. No.: |
1957/003938/07 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and distributing of ethical pharmaceutical products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
UCB (S A) (PTY) LTD
Formerly
U C B S A (PTY) LTD the name having been changed on 22 February 1979.
PHYSICAL ADDRESS
3rd Floor, Park Terrace
33 Princess of
PARKTOWN
POSTAL ADDRESS
BRAAMFONTEIN
2001
TELEPHONE NUMBER: 011 481 3000
FAX NUMBER: 011 484 8502
It was stated by
respondents that the subject is in the process of applying for a name change to
AFRICAN HEALTH PHARMA (PTY) LTD which has not yet been finalised.
SHAREHOLDERS
100% AFRICAN HEALTH NETWORK (PTY) LTD
It was stated that
the shareholding changed in 2007 as the shares were previously owned by foreign
shareholders.
ASSOCIATE COMPANIES
None
DIRECTORS
G FASSMAN
J KOGANE
W D MARAIS ID No. 4207255027002
BANKERS
FIRST NATIONAL BANK Braamfontein Branch, Account Number 50540088355. It was stated that the subject enjoys overdraft facilities unsecured. Utilisation is occasional.
DATE REGISTERED
4 December 1957
Registration Certificate Number: 1957/003938/07.
VAT NUMBER
4500104379
MAJOR OPERATION
Manufacturing and distributing of ethical pharmaceutical products.
MAJOR SUPPLIERS
The subject outsources its manufacturing and distribution and deals with:
INTRAMED PHARMACARE PE
ASPEN PHARMACARE PE
SAFCOR PANELPINA PE
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Wholesalers and retailers
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
None
TOTAL EMPLOYEES
39 - 45
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be leased
The following estimated financial situation was submitted:
STOCK Nil
FIXED ASSETS R 5 700 000
TURNOVER per annum R80 000 000 – R200 000 000
AUDITORS
DELOITTES
YEAR END
DECEMBER (changing to JUNE in 2008)
INSURANCE BROKERS
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. Do not give trade references
2. Do not give trade references
3. Do not give trade references
COMMENTS
This is an
established company that out-sources its manufacturing. We have not traced dealings to an extent of
US$1 000 000 and would prefer to see a lesser figure well spread and
secured. The lack of financial
information should be borne in mind together with the change in shareholding.
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/normal. |
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%)