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MIRA
INFORM REPORT
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Report Date : |
14.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
INTAKA MANAGE (PTY) LTD |
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Registered Office : |
6 Bell Crescent,
Westlake Business Park, Tokai, Cape Town, Western Cape |
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Country : |
South Africa |
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Date of Incorporation : |
02.09.2003 |
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Com. Reg. No.: |
2003/021330/07 |
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Legal Form : |
Propriety Limited |
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Line of Business : |
Trading, Buying and Selling of Pharmaceutical Products |
RATING &
COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
New Company |
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Litigation : |
Clear |
COMPANY NAME
INTAKA
MANAGE (PTY) LTD
PHYSICAL ADDRESS
6 Bell Crescent
Westlake
Business Park
Tokai
Cape
Town
Western
Cape
POSTAL ADDRESS
P O Box 30085
Tokai
7945
Telephone Number: 021 702 1559
Fax Number: 021 702 3268
SHAREHOLDERS
76% SAVOI FAMILY TRUST
24% SWANTON ENTERPRISES CORPORATION, an
overseas company
ASSOCIATE COMPANIES
INTAKA
HOLDINGS (PTY) LTD
DIRECTORS
G SAVOI D.O.B.
521226
R SAVOI D.O.B.
610212
BANKERS
FIRST
NATIONAL BANK, Cape Town Corporate Rondebosch branch. It was stated that the subject does not require overdraft
facilities as credit balances are normally maintained at the bank.
DATE REGISTERED
2
September 2003
Registration
Certificate Number: 2003/021330/07
VAT NUMBER
4700208434
MAJOR OPERATION
Trading,
buying and selling of pharmaceutical products as well as the administration and
management for the associate company. The
subject only began its trading operations on a small scale in 2008 but has been
a management and administration company since inception.
MAJOR SUPPLIERS
The
subject is not a general credit seeker as it sources products from overseas
which are then transferred to a bonding
warehouse in Hamburg from which they
are delivered to a customer in South America.
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Distributors
and wholesalers to South America and to group companies in South Africa
AREA OF DISTRIBUTION AND SELLING
South
Africa
EXPORTS
South
America
TOTAL EMPLOYEES
21
OTHER PREMISES
The subject has a
maintenance office in Kimberley
OWNED OR LEASED
The head office
premises are reported to be leased from the holding Trust and the branch premises
are leased.
AUTHORISED SHARE CAPITAL
R4 200 divided into 4
200 ordinary shares of R1 each
ISSUED SHARE CAPITAL
R350
Full
financial information was not forthcoming from respondents at the subject,
however, it was stated that the annual turnover ending 2008, excluding the
trading operations that commenced this year, was R27 million
AUDITORS
MAZARS
MOORES ROWLAND
YEAR END
FEBRUARY
INSURANCE BROKERS
PHOENIX
RISK SOLUTIONS
TRADE REFERENCES
NOT
APPLICABLE
COMMENTS
This is an established company that is a management and administration
company for the group. The subject only
commenced trading as of 2008 and is not a general credit seeker locally. We are therefore not in a position to
recommend credit dealings to an extent of US$1 000 000 over DA terms and
suggest all dealings be on a letter of credit basis.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.46 |
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UK Pound |
1 |
Rs.73.17 |
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Euro |
1 |
Rs.62.96 |
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%)