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MIRA
INFORM REPORT
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Report Date : |
03.03.2011 |
IDENTIFICATION DETAILS
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Name : |
ARYSTA LIFESCIENCE |
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Formerly Known As : |
ONINAMIX (PTY) LTD |
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Registered Office : |
7 |
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Country : |
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Date of Incorporation : |
14.10.2009 |
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Com. Reg. No.: |
2009/019713/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Retailers and wholesalers of agricultural chemicals |
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 : |
New Company |
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Payment
Behaviour : |
Unknown |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 NAME
VOLCANO AGROSCIENCE (PTY) LTD
TRADING NAME
ARYSTA LIFESCIENCE
PHYSICAL ADDRESS
7 Sunbury Office Park
LA
POSTAL ADDRESS
4300
TELEPHONE NUMBER: 031 514 5600
FAX NUMBER: 031 514
5612
On investigation it was established that the subject is a dormant
company and the assets and operations have been incorporated in the company
ARYSTA LIFESCIENCE SOUTH AFRICA (PTY) LTD with effect from 1 January 2011.
Please see attached amended report on ARYSTA LIFESCIENCE SOUTH AFRICA
(PTY) LTD.
COMPANY NAME
VOLCANO AGROSCIENCE (PTY) LTD
TRADING NAME
ARYSTAL LIFESCIENCE
PHYSICAL ADDRESS
Kwazulu Natal
POSTAL ADDRESS
4300
TELEPHONE NUMBER: 031 538 9700
FAX NUMBER: 031 538 9600
In reference to your
special request, it was established that the subject VOLCANO AGROSCIENCE (PTY) LTD trades under the name of ARYSTAL
LIFESCIENCE. VOLCANO AGROSCIENCE (PTY) LTD
has the registration number 2000/004551/07 and VAT number 4110165885.
The subject ARYSTAL
LIFESCIENCE is therefore just a trading name for the registered company. It was
also established that the subjects shareholder CALLIETHA INVESTMENTS (PTY) LTD is owned by a company called
ARYSTAL LIFESCIENCE SOUTH AFRICA (PTY) LTD
which is a non-trading holding and investment company and is ultimately owned
by ARYSTAL LIFESCIENCE CORPORATION in
We can only assume
that the registration date of 18 August 1999 was previously advised due to an
administrative error as that date is actually the registration date of the
holding company CALLIETHA INVESTMENTS (PTY)
LTD (Registration Certificate
Number: 1999/017961/07) and not that of the subject. Their registration date is
confirmed as 8th March 2000.
We trust that this
clarifies the matter sufficiently.
COMPANY NAME
ARYSTA LIFESCIENCE
Formerly ONINAMIX (PTY) LTD, the name having been changed on 29 March 2010.
Address
PHYSICAL ADDRESS:
7 Sunbury Office Park
La
POSTAL ADDRESS:
4300
TELEPHONE NUMBER: 031 514 5600
FAX NUMBER: 031 514 5612
The subject was formerly situated at
SHAREHOLDERS
100% ARYSTA LIFESCIENCE HOLDINGS (PTY) LTD
ASSOCIATE COMPANIES
VOLCANO AGROSCIENCE (PTY) LTD (Dormant)
The assets and operations of the associate company were incorporated into the subject with effect from 1 January 2011.
DIRECTORS
J P BARNES ID No. 6204185084086
P DE GRYSE ID No. 7604225130089
N P M JAMME ID No. 05357701
P SMIT
M DREYER
The latter 3 directors
were added to the company last year and their Identification Numbers were not
available.
BANKERS
FIRST NATIONAL BANK, Durban Corporate branch. Further information regarding banking facilities was not forthcoming from the respondents and outside authorities were unable to assist in this regard.
DATE REGISTERED
14 October 2009
Registration Certificate Number: 2009/019713/07
It was stated by the respondent that the subject commenced trading when the assets and operations of TSUNAMI CROP CARE (PTY) LTD and TSUNAMI PLANT PROTECTION (PTY) LTD were incorporated into the subject. The subject incorporated assets and operations of VOLCANO AGROSCIENCE (PTY) LTD in January 2011.
VAT NUMBER
4690254075
MAJOR OPERATION
Retailers and wholesalers of agricultural chemicals
MAJOR SUPPLIERS
The subject imports supplies and deals locally with:
MAKHTESHIM
BITRAD
EXPORTOS
QUICKCHEM PACK
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Co-operatives and farmers
AREA OF DISTRIBUTION AND SELLING
EXPORTS
Worldwide
TOTAL EMPLOYEES
200
OTHER PREMISES
It was stated that the subject has 1 factory in Canelands
and depots throughout
OWNED OR LEASED
The premises are reported to be leased, however, the factory premises are owned by the subject.
Full financial information was not forthcoming from respondents at the subject and outside authorities were unable to assist in this regard.
AUDITORS
ERNST & YOUNG,
YEAR END
DECEMBER
INSURANCE BROKERS
MARSH
TRADE REFERENCES – JULY 2010
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 3 weeks undisclosed R 300 000- 60 days 60 days Very Good
(4 years) R 400 000
2. 3 weeks undisclosed R 200 000- 90 days 90 days Very Good
(3 years) R3 000 000
3. 2 weeks undisclosed R 400 000- 90 days 90 days Very Good
(4 years) R2 000 000
CURRENT TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
±1 year R10 000 000 R 1 000 000- 90 days 90 days Very Good
R10 000 000
Few years Do not divulge Good
Do not give trade references
10 years+ R 1 500 000 R 500 000- 30 days 30 days Very Good
R1 500 000
COMMENTS
This is a very new company that took over the assets and operations of established businesses. The subject is regarded as equal to its normal business engagements and to a maximum figure of €300 000 over 30 days.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.12 |
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1 |
Rs.73.43 |
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Euro |
1 |
Rs.62.32 |
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 |
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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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.