MIRA
INFORM REPORT
|
Report Date : |
13.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
AFRICAN PHARMACEUTICAL AND DIAGNOSTICS (PTY) LTD |
|
|
|
|
Registered Office : |
3rd Floor, Park Terrace, 33 Princess of |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
11 May 2004 |
|
|
|
|
Com. Reg. No.: |
2004/012519/07 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Distributors of pharmaceuticals and diagnostics |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
COMPANY NAME
AFRICAN PHARMACEUTICAL AND DIAGNOSTICS (PTY) LTD
Formerly
BLACK GINGER 12 (PTY) LTD the name having been changed on 25 May 2004.
PHYSICAL ADDRESS
3rd Floor, Park Terrace
33 Princess of
PARKTOWN
POSTAL ADDRESS
BRAAMFONTEIN
2017
TELEPHONE NUMBER: 011 481 3000
FAX NUMBER: 086 504 4518
SHAREHOLDERS
McARTHUR TRUST
(Majority)
SIYANDISA TRADING
TRUST
ASSOCIATE COMPANIES
None
DIRECTORS
D I McARTHUR ID No. 5606025162081
D R MOKHOBO ID No. 6506115318081
BANKERS
DATE REGISTERED
11 May 2004
Registration Certificate Number : 2004/012519/07.
It was stated by respondents that the subject commenced when the assets and operations of Med Works Investments (Pty) Ltd were incorporated into the company. Med Works Investments (Pty) was established in 1999.
VAT NUMBER
4620218190
MAJOR OPERATION
Distributors of pharmaceuticals and diagnostics
MAJOR SUPPLIERS
The subject imports 90% of its supplies. The subject
previously imported through UCB PHARMA SA and import now through SAFCOR in
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Government and Medical Industry
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
African countries
TOTAL EMPLOYEES
5
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be leased
AUTHORISED SHARE
CAPITAL
R1000 divided into 1000 ordinary shares of R1 each
ISSUED SHARE CAPITAL
R100
The following estimated financial situation was submitted:
STOCK Minimal
DEBTORS R 1 000 000
CREDITORS R 700 000
TURNOVER per annum R12 000 000
AUDITORS
LEON MARGOLIS CA (SNR)
YEAR END
FEBRUARY
INSURANCE BROKERS
RISK BENEFIT SOLUTIONS
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 5 yrs R1 500 000 R 750 000- 30 days 30 days Very Good
c/l R1 500 000
The above trade
reference was obtained from the subjects previous shipper as the new shippers’
account is very new.
COMMENTS
This is an
established meeting its local commitment timeously. We have not traced dealings to an extent of
US$1 000 000 and would prefer to see a lesser amount well spread.
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)