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MIRA
INFORM REPORT
|
Report Date : |
27.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
SANDOZ SOUTH AFRICA (PTY) LTD |
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Registered Office : |
72 – 74 Steel Road Spartan Kempton Park Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
09.04.1990 |
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Com. Reg. No.: |
1990/001979/07 |
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Legal Form : |
Private Company |
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Line of Business : |
The manufacturing and marketing of
scheduled and unscheduled pharmaceutical products. |
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 |
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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 |
Assessment
This is an established and well connected
company.
The subject is meeting commitments timeously.
Suppliers speak highly of the subject.
We have traced payments up to an amount of
R2 000 000.
In view of the standing of the subject, they
would be considered equal to an amount of US$1 000 000.
Company Information
|
Registered
Name |
SANDOZ SOUTH AFRICA (PTY) LTD |
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|
Registration
Number |
1990/001979/07 |
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|
Registration
Date |
9 April 1990 |
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Date Commenced
Trading |
9 April 1990 |
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History of
Business |
The subject was commenced as a new business. |
||
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Shareholders/Members/Partners
of subject and % holding |
100% NOVARTIS PHARMA AG in
Switzerland |
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|
Authorised Share
Capital |
R3 000 000 divided into 3 000 000 ordinary R1
shares. |
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Issued Share
Capital |
R3 000 000 |
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Age of Company |
21 years 3 months |
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|
Status |
Active |
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Operations
Assessment |
The manufacturing and marketing of
scheduled and unscheduled pharmaceutical products. |
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Industry/
Customers |
Wholesalers, hospitals, clinics, doctors, pharmacies
etc. |
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Major Industry
Code / SICC |
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Definition of
Code |
Manufacture of pharmaceuticals, medicinal
chemical & botanical products |
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Head Office
Physical Address |
72 – 74 Steel Road SPARTAN Kempton Park Gauteng |
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Head Office
Postal Address |
P O Box 154 ISANDO 1600 |
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Current Tel
Number Cell number |
011 929 9000 |
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Current Fax
Number |
011 929 2424 |
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Current Email
Address |
|||
|
Web Site Address |
Auditors Information
|
Company
Registered Name |
PRICEWATERHOUSECOOPERS INC |
|
Trading Name |
PWC INC |
|
Registration
Number |
1998/012055/21 |
|
Physical Address |
2 Eglin Road SUNNINGHILL 2157 |
|
Postal Address |
Private Bag X36 SUNNINGHILL 2157 |
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Contact Person |
Clair Goddard |
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Contact Number |
011 797 4000 |
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Email |
|
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Principals |
246 |
|
Judgements
Against Subject |
None |
|
Judgements
Against Principals |
None |
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Subject Verified
as Client |
Yes |
|
Practice number |
906670 |
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VAT Number |
4950174682 |
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Tax Number |
9343032844 |
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BEE Status |
Level 2 |
|
Financial Year End |
June |
|
Website |
www.pwc.com |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
DELOITTE AND TOUCHE |
Unknown |
Tax Information
|
Vat Number |
4870138106 |
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Status |
Active |
|
Vat Liable Date |
1 July 1990 |
|
Tax Number |
9124073207 |
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Tax Clearance
Expire Date |
April 2012 |
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Financial Year
End |
DECEMBER |
Black Economic Empowerment
|
Status |
None |
|
Score |
None |
|
Expire Date |
None |
|
BEE Certificate
Available |
No |
ISO Status
|
Type of ISO
Grade |
None |
|
ISO Certificate |
No |
|
ISO Certificate
Available |
No |
|
Certified by an
Accredited Agent |
No |
Workman’s compensation
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
Company Structure
|
Sales offices |
Unit 16 M5 Office Park Alexander Park MAITLAND Cape Town Western Cape Suite 103 1st Floor Kent House WESTVILLE Durban Kwazulu Natal 163 Main Road WALMER Port Elizabeth Eastern Cape 7 Brill Street Westdene BLOEMFONTEIN Free State |
It was stated that
the warehouse premises in Pinetown in KwaZulu Natal was closed in 2010
|
Subsidiary
Company |
None |
|
Number of
Employees |
300 total |
Company Fleet |
5 total |
|
Fleet Operations |
|
|
The Fleet is
made up of |
|
|
1.
Cars |
3 |
|
2.
Light
Delivery Vehicles |
2 |
Head Office
Owned / leased |
The heading premises are owned |
|
Owned by |
GESA PROPERTIES (PTY) L TD |
|
Value |
R120 000 000 – R150 000 000 |
|
Bond |
Free of bond |
|
Type of Premises |
Administration and marketing offices |
Branches Owned/
Rented |
Cape Town – leased Durban – leased Cape Town – leased Bloemfontein - leased |
|
Rental Company |
The branches premises are leased from various landlords |
|
Owned |
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Value |
|
|
Bank |
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|
Bond |
|
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Lease Agreement |
2 – 3 year lease contracts |
|
Lease Expire
Date |
Varies from branch |
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Type of Premises |
Sales offices |
Trade References
|
Supplier |
Contact |
|
PRO-PRINT |
031 205
9341 |
|
DIV PHARM
MANUFACTURING |
011 473
2140 |
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CONCORD PLASTICS |
011 474 8837 |
|
1ST
GARMENT RENTAL |
011 398
5300 |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
15 years |
R3 000 000 |
R2 000 000 |
30 |
R300 000 |
30 |
Good |
|
10 years |
Amounts |
Confidential |
30 |
Confidential |
30 |
Good |
|
13 years |
R60 000 Rental |
R60 000 agreement |
30 |
R60 000 |
30 |
Very good |
Adverse Information on Subject
|
Judgements |
No information on record |
|
Possible
Judgements |
None |
|
Civil Court
Records |
None |
|
RDs |
None |
Default Data
|
Date |
Details |
|
No information
on record |
|
Notarial Bonds
|
Date |
Details |
|
No information
on record |
|
Deeds
Information
|
Property Interest |
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Property Type: |
No information on record |
Stand Number: |
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Street Number: |
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Street Name: |
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Municipal Suburb: |
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Municipal City: |
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Township Name: |
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Province: |
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Deeds Office: |
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Transfer ID: |
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Title Deed Number: |
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Purchase Date: |
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Transfer Date: |
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Erf Size: |
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Sold Price: |
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Bank
Information
|
Bank |
STANDARD BANK |
|
Branch |
Isando |
|
Bank Account
Number |
020080573 |
|
Type of account |
Current |
|
Branch Code |
012542 |
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Account Name |
SANDOZ SOUTH AFRICA (PTY) LTD |
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Date Opened |
|
|
Bank Code |
Awaiting a bank code |
|
Bank Comment |
|
Bank Codes History
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
|
No information on record |
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Previous Bank Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
Not available |
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Financial Information
Financial Estimates
|
CURRENT ASSETS |
|
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Stock |
R150 000 000 – R200 000 000 |
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Debtors |
R120 000 000 |
|
FIXED ASSETS |
|
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Plant,
Equipment, Vehicles net book value |
R50 000 000 |
|
Property |
Nil |
|
CURRENT
LIABILITIES |
|
|
Creditors |
R65 000 000 |
|
LONG TERM
LIABILITIES |
|
|
Morgage Bonds |
|
|
ANNUAL Turnover
(2011) |
R500 000 000 – R550 000 000 |
Principals
|
Number of
Principals |
3 |
|
Average Age of
Active Principals |
53 |
Active Principals
Principal 1 of 3
|
Surname |
BASSOUL |
|
First Names |
ROGER, ANTOINE |
|
Passport Number |
BA288876 |
|
Verified ID
Number |
No |
|
Current Age |
53 |
|
Designation |
Businessman |
|
Status |
Active |
|
Appointment Date |
26 January 2009 |
|
Address (at time
of Appointment) |
B P 7545 20003 CASABLANCA 0000 |
Adverse Information on Principal
Judgement
|
Number of
Judgements |
No information on record |
Debt Review
|
Debt review |
No information on record |
Other
|
Default data |
No information on record |
Business Information on Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
SANDOZ (PTY) LTD |
1981/002426/07 |
In business |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
No information on record |
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Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
No information on record |
Erf/Site No. |
|
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Deeds Office |
|
Physical Address |
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Property Type |
|
Extent / Size |
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|
Purchase Date |
|
Purchase price |
|
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% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Principal 2 of 3
|
Surname |
PALEJA |
|
First Names |
MILAN MOHANLAL |
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Passport Number |
E 00 64346 E |
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Verified ID
Number |
No |
|
Current Age |
47 |
|
Designation |
Financial Officer |
|
Status |
Active |
|
Appointment Date |
10 April 2008 |
|
Address (at time
of Appointment) |
9 Tanjong Rhu Road 20-01 Water Side Condominium SINGAPORE 436894 0000 |
Adverse Information on Principal
Judgement
|
Number of
Judgements |
No information on record |
Debt Review
|
Debt review |
No information on record |
Other
|
Default data |
No information on record |
Business Information on Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
GESA PROPERTIES
(PTY) LTD |
1965/001409/07 |
In business |
0 |
No |
|
SANDOZ PRODUCTS (PTY0
LTD |
1969/014827/07 |
In business |
0 |
No |
|
SANDOZ (PTY) LTD |
1990/001979/07 |
In business |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
65 years and 5 months |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
NOVARTIS SOUTH
AFRICA (PTY) LTD |
1946/020671/07 |
In business |
0 |
No |
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
No information on record |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Principal 3 of 3
|
Surname |
DU BOS |
|
First Names |
JEAN-CLAUDE |
|
Date of Birth |
14 February 1951 |
|
Verified ID
Number |
No |
|
Current Age |
60 |
|
Designation |
Directors |
|
Status |
Active |
|
Appointment Date |
1 March 2006 |
|
Address
(at time of Appointment) |
3 Rue De La Fontaine SAINT LOUIS France 0000 |
Adverse Information on Principal
Judgement
|
Number of
Judgements |
No information on record |
Debt Review
|
Debt review |
No information on record |
Other
|
Default data |
No information on record |
Business Information on Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
NOVARTIS SOUTH
AFRICA (PTY) LTD |
1946/020671/07 |
In business |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
No information on record |
|
|
|
|
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
No information on record |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.29 |
|
|
1 |
Rs.72.36 |
|
Euro |
1 |
Rs.64.17 |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
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 |
|
-- |
NB |
New Business |
-- |
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.