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MIRA
INFORM REPORT
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Report Date : |
22.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
PHARMQUIP (PTY) LTD |
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Registered Office : |
93 Hole In One Road, Ruimsig, Roodepoort, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
14 July 2004 |
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Com. Reg. No.: |
2004/019629/07 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing and exporting of pharmaceuticals and related products, e g medical
equipment and consumables. |
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
PHARMQUIP (PTY) LTD
PHYSICAL ADDRESS
93 Hole In One Road
Ruimsig
ROODEPOORT
Gauteng
POSTAL ADDRESS
P O
Box 1096
ALLENS NEK
1737
Telephone Number: 011 675 5500
Fax Number: 011
675 5505
The subject was formerly situated at 2
Squirrel Turn, Weltevreden Park, Roodepoort, Gauteng.
SHAREHOLDERS
50% D
J M TRUST
50% L
D S TRUST
ASSOCIATE COMPANIES
There appear to be a number of dormant companies in the group but no
trading companies.
DIRECTORS
D J MACHARRY ID No: 7204045094084
L D SCORGIE ID No: 7509225208084
BANKERS
STANDARD BANK, Florida Branch, account number 022292322. It was stated
that the subject enjoys overdraft facilities to an extent of R400 000 secured
by the personal guarantees of the Shareholders. Utilisation is stated to
fluctuate to partial at times.
DATE REGISTERED
14 July 2004
Registration Certificate Number:
2004/019629/07
The subject was formerly a close corporation that had been trading since
2003. Prior to that it was stated that Mr MacHarry was a general business
manager for a number of businesses and Mr Scorgie was previously involved in the
pharmaceutical industry.
VAT NUMBER
4650207584
MAJOR OPERATION
Importing and exporting of pharmaceuticals and related products, e g
medical equipment and consumables.
MAJOR SUPPLIERS:
The subject imports most of its supplies and deals locally with:
BETA FREIGHT Johannesburg
KALDOREI Johannesburg
MAJOR CUSTOMERS OR BUSINESS SECTORS:
Government hospitals
AREA OF DISTRIBUTION AND SELLING
Africa
TOTAL EMPLOYEES
7
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be leased.
ISSUED SHARE CAPITAL
R100
The following estimated financial situation was submitted:
STOCK
R 500 000
DEBTORS R1
200 000
FIXED ASSETS R 150 000
CREDITORS R 800 000
OVERDRAFT R 100 000
SHAREHOLDERS'
LOANS R1 200 000
LONG TERM
LIABILITIES Nil
TURNOVER per month R1 200 000
AUDITORS
LITVIN HACK
YEAR END
FEBRUARY
INSURANCE BROKERS
CAMPBELL AND ASSOCIATES
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 5 yrs open R
10 000 - 30 days 30 days Good
R100
000
(varies)
2. 3 yrs R100
000 R 15 000 - 30 days 30 days Very
good
R 20 000
COMMENTS
This is a comparatively established company
meeting commitments timeously. We have not traced dealings to an extent of $1
000 000 over DA terms and suggest a lesser figure on a well spread and secured
basis.
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%)