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MIRA INFORM REPORT
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Report Date : |
08.12.2011 |
IDENTIFICATION DETAILS
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Name : |
ACTIVE CHEMICALS (PTY) LTD |
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Registered Office : |
Shop 18 Cl Centre, 25 Webb Street, Northmead, Benoni |
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Country : |
South Africa |
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Date of Incorporation : |
28.04.2009 |
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Com. Reg. No.: |
2009/008405/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Import and export of
industrial chemicals |
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No. of Employees
: |
6 Persons |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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South Africa |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company summary
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Subject Name |
ACTIVE CHEMICALS (PTY) LTD |
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Country |
SOUTH AFRICA |
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Requested Credit Limit |
US$1 500 000 |
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Enquiry Terms |
D/A |
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Account Review |
RECOMMENDED EVERY 6 MONTHS |
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Subject Contact person |
ANNE- FINANCE |
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Assessment |
Total Credit Limit Exposure: Total Suretyship: This is an established company that
imports all its products. Payments are being met timeously with suppliers. A bank code C was obtained for
R500 000 over 30 days. Please bear in mind that the bank account
is under the name of an associate company. Your figure is considered as too high. |
Company
Information
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Registered Name |
ACTIVE CHEMICALS (PTY) LTD |
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Trading as/ Division Name |
None |
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Previous Name |
None |
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Date of Name Change |
N/A |
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Registration Number |
2009/008405/07 |
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Registration Date |
2009-04-28 |
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Date Commenced Trading |
2009 |
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Age of Business |
2 years 8 months |
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History of Business |
The subject commenced as a new business in 2009 |
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Shareholders and % holding |
100% W GRIMSLEY |
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Authorised Share Capital |
R1000 |
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Issued Share Capital |
R100 |
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Status |
In Business |
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Operations Assessment |
Import and export of industrial chemicals |
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Industry/ Customers |
Mining industry and municipalities |
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Export |
Africa |
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Major Industry Code / SICC |
61909 Wholesale Retail |
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Definition of Code |
Other wholesale trade n.e.c |
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Head Office Physical Address |
Shop 18 CL Centre 25 Webb Street NORTHMEAD Benoni |
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Head Office Postal Address |
P O Box 15069 FARRAMERE 1518 |
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Current Tel Number |
011 8499022 |
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Current Fax Number |
011 8499051 |
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Current Email Address |
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Web Site Address |
Auditors Information
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Company Registered Name |
GRACE HUGES AND ASSOCIATES |
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Trading Name |
None |
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Registration Number |
Partnership |
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Physical Address |
10 Anna Avenue GLENANDA Johannesburg |
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Postal Address |
P O Box 1778 GLENVISTA 2058 |
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Contact Person |
BRIAN MELVIN/ GRACE HUGHES |
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Contact Number |
082 8575278/ 011 4320962 |
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Email |
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Subject Verified as Client |
Yes |
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Years With Auditors |
Few years |
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Website |
None |
Previous Auditors
|
Company Name |
Phone Number |
Time with previous auditors |
|
L G EDWARDS AND
CO |
Unknown |
Few years |
Tax Information
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Vat Number |
4550255832 |
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Status |
Active |
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Vat Liable Date |
Monthly |
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Tax Number |
9014362223 |
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Tax Clearance Expire Date |
March, September |
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Financial Year End |
March |
Black Economic Empowerment
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Status |
None |
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Score |
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Expire Date |
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BEE Certificate Available |
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ISO Status
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Type of ISO Grade |
Yes number unknown |
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ISO Certificate |
Yes |
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ISO Certificate Available |
No |
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Certified by an Accredited Agent |
No |
Workman’s compensation
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Registered |
Yes |
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Compliance Certified |
Yes |
Company
Structure
Associate Company
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Name |
ACTIVE CHEMICALS AND SOLUTIONS (PTY) LTD |
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Shareholding |
100% W GRIMSLEY |
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Number of
Employees |
6 |
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1. Salaried
employees |
6 |
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2. Waged
employees |
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3. Permanent
employees |
6 |
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4. Casual
employees |
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5. Contracted
employees |
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Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding Balance |
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Fleet Operations |
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The Fleet is made up of |
None |
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1. Cars |
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2. Light
Delivery Vehicles |
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3. Trailers |
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4. Busses |
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5. Trucks |
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6. Fork
Lifts |
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7. Other |
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Offices |
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Head Office Owned/ Rented |
Rented |
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Rental Company |
THE COVENANT LIFE CENTRE |
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Owned by |
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Value |
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Bond |
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Bank |
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Lease Agreement |
1 year |
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Lease Expire Date |
September 2012 |
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Type of Premises |
Office |
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Branches Names |
Country |
Province |
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None |
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Branches Owned/ Rented |
None |
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Rental Company |
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Owned |
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Value |
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Bank |
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Bond |
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Lease Agreement |
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Lease Expire Date |
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Type of Premises |
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Management
Overview
Organisation chart
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Level |
Position |
Name |
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1 |
MD |
W GRIMSLEY |
Company Structure (Ownership)
Note: One level up and
all levels down
|
Holding |
Company |
Sub |
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100% W GRIMSLEY |
ACTIVE CHEMICAL (PTY) LTD |
None |
Trade References
|
Trade Reference nr |
Supplier |
Contact |
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1 |
CARGOCARE |
031 2052208 |
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2 |
REDDY CARGO |
011 0215217 |
Trade References
Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
12 years |
R400 000 |
R400 000 |
30 days |
R400 000 |
30 days |
Good |
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2 |
12 years |
R100 000 |
R100 000 |
30 days |
R100 000 |
30 days |
Good |
Adverse Information on Subject
Judgements
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Judgements |
None |
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Possible
Judgements |
None |
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Civil Court |
None |
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RDs |
None |
Business Rescue
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Date registered |
Business rescue practitioner |
Contact Information |
Details |
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None |
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Default Listings
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Date |
Details |
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None |
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Notarial Bonds
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Date |
Details |
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None |
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Bank Information
Bank Codes History
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Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
Years with bank |
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None |
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Previous Bank
Accounts
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Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
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None |
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Deeds Information
Property
Interestsfor Company
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Title Deed No. |
None |
Erf/Site No. |
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Deeds Office |
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Physical Address |
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Property Type |
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Extent / Size |
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Purchase Date |
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Purchase price |
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% Ownership |
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Bond Holder |
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Bond Number |
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Bond Amount |
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Financial Information
Financial Estimates
Financial details were declined by the subject.
Please note the
following:
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Turnover and assets less than R 1,000,000.00 |
The subject falls within the National Credit Act |
|
Turnover and assets less than R 2,000,000.00 |
The subject falls within the Consumer Protection Act |
Principals
|
Number of Principals |
1 |
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Average Age of Active Principals |
61 |
Active Principals
Principal 1 of 1: WILLIAM GRIMSLEY
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Surname |
GRIMSLEY |
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First Name |
WILLIAM |
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Other Names |
None |
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Marital Status |
Married |
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ID Number |
5012135052082 |
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Verified ID Number |
Yes |
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Current Age |
61 |
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Designation |
Director |
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Status |
Active |
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Appointment Date |
2009-06-30 |
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Physical Address (at time of Appointment) |
25 Koper Street FARRAMERE Benoni |
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Postal Address |
P O Box 15069 FARRAMERE 1518 |
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Current Tel Number |
011 8491712 |
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Cell number |
083 6548003 |
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Current Fax Number |
011 8499051 |
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Shareholding |
100% |
Judgement
|
Number of
Judgements |
None |
Debt
Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information for
Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
ACTIVE CHEMICALS
AND SOLUTIONS (PTY) LTD |
1989/007549/07 |
In Business |
22 years |
0 |
No |
Previous
Business Interests
|
Average Age of
Previous Business Interests |
18 years |
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Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
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DNL SECRETARIAL
SERVCIES (PTY) LTD |
1993/000316/07 |
Deregistration
Final |
18 years 11
months |
0 |
No |
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INTERNATIONAL
CHRISTIAN CHAMBER OF COMMERCE S A |
M1994/002615/08 |
In Business |
17 years 8
months |
0 |
No |
Deeds Information
Property
Interests for
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Title Deed No. |
None |
Erf/Site No. |
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Deeds Office |
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Physical Address |
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Property Type |
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Extent / Size |
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Purchase Date |
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Purchase price |
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% Ownership |
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Bond Holder |
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Bond Number |
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Bond Amount |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.45 |
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UK Pound |
1 |
Rs.80.38 |
|
Euro |
1 |
Rs.69.12 |
RATING EXPLANATIONS
|
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 |
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.