%20LTD%20-%20158203%2001-Nov-2011_files/image002.jpg){kind=small}
MIRA INFORM REPORT
|
Report Date : |
01.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
SIKA SOUTH AFRICA (PTY) LTD |
|
|
|
|
Formerly Known As : |
R F K HOLDINGS (PTY) LTD then SIKA (PTY) LTD |
|
|
|
|
Registered Office : |
9 Hocking Place, Pinetown, Durban |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
31.08.1988 |
|
|
|
|
Com. Reg. No.: |
1988/004964/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacture of other chemical 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 : |
No Complaints |
|
|
|
|
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) |
|
South Africa |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Assessment:
This is a large well established company that forms part of an
international group.
Payments with suppliers are being met within terms.
The company is considered as equal to your figure.
We await a bank code.
Company Information
|
Registered
Name |
SIKA SOUTH AFRICA (PTY) LTD |
|
Trading
as/ Division Name |
None |
|
Previous Name |
R F K HOLDINGS (PTY) LTD then SIKA (PTY) LTD |
|
Date of Name
Change |
1998 then 2002 |
|
Registration
Number |
1988/004964/07 |
|
Registration
Date |
1988-08-31 |
|
Date Commenced
Trading |
1988 |
|
History of
Business |
The business was commenced as a new business in 1988 |
|
Shareholders/Members/Partners
of subject and % holding |
100% SIKA AG in Switzerland |
|
Authorised Share
Capital |
R1180 |
|
Issued Share
Capital/Members Contribution |
R1180 |
|
Age of Company |
23 years 2 months |
|
Status |
In Business |
|
Operations
Assessment |
Manufacturing and retailing of
construction chemicals |
|
Industry/
Customers |
The industry and DIY stores |
|
Export |
Africa |
|
Major Industry
Code / SICC |
33599 Manufacturing |
|
Definition of
Code |
Manufacture of other chemical products
n.e.c |
|
Head Office
Physical Address |
9 Hocking Place PINETOWN DURBAN |
|
Head Office
Postal Address |
PO Box 15408 WESTMEAD 3608 |
|
Current Tel
Number Cell number |
031 792 6500 |
|
Current Fax
Number |
031 7001784 |
|
Current Email
Address |
|
|
Web Site Address |
Auditors Information
|
Company
Registered Name |
ERNST AND YOUNG |
|
Trading Name |
ERNST AND YOUNG REGISTERED AUDITORS |
|
Registration
Number |
2005/002308/21 |
|
Physical Address |
1 Pencarrow Crescent Pencarrow Park La Lucia Ridge Office Park DURBAN 4000 |
|
Postal Address |
P O Box 859 DURBAN 4000 |
|
Contact Person |
IRSHAAD SOOMAR |
|
Email Address |
irshaad.soomar@za.ey.com |
|
Contact Number |
031 5768000 |
|
Principals |
25 |
|
Judgements
Against Subject |
No information on record |
|
Judgements
Against Principals |
No information on record |
|
Subject Verified
as Client |
Yes |
|
SAICA number |
900133 |
|
VAT Number |
4280230949 |
|
Tax Number |
9414606153 |
|
Financial Year
End |
June |
|
Website |
Previous Auditors
|
Company Name/
Tel |
Time With
Previous Auditors |
|
None |
|
Tax Information
|
Vat Number |
4500102613 |
|
Status |
Active |
|
Vat Liable Date |
Monthly |
|
Tax Number |
9274193201 |
|
Tax Clearance Expire Date |
December and June |
|
Financial Year End |
December |
Black Economic
Empowerment
|
Status |
Yes |
|
Score |
Level 8 |
|
Expire Date |
In process of renewal at present |
|
BEE Certificate Available |
No |
ISO Status
|
Type of ISO
Grade |
None |
|
ISO Certificate |
|
|
ISO Certificate
Available |
|
|
Certified by an
Accredited Agent |
|
Workman’s
compensation
|
Registered |
No |
|
Compliance
Certified |
No |
Company Structure
|
Branches |
5 |
|
Branches Names |
Country |
Province |
|
CAPE TOWN |
SA |
Western Cape |
|
PORT ELIZABETH |
SA |
Eastern Cape |
|
JOHANNESBURG |
SA |
Gauteng |
|
BLOEMFONTEIN |
SA |
Free State |
|
RICHARDS BAY |
SA |
Kwazulu Natal |
|
Subsidiary
Company |
None |
|
Shareholding |
|
|
Registration
Number |
|
|
Import / Export |
|
|
Number of
Employees |
138 |
|
1.
Salaried
employees |
138 |
|
2.
Waged
employees |
|
|
3.
Permanent
employees |
|
|
4.
Casual
employees |
|
|
5.
Contracted
employees |
|
Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding
Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is
made up of |
36 |
|
|
|
|
1.
Cars |
30 |
Leased |
|
|
|
2.
Light
Delivery Vehicles |
|
|
|
|
|
3.
Trailers |
|
|
|
|
|
4.
Busses |
|
|
|
|
|
5.
Trucks |
1 |
Leased |
|
|
|
6.
Fork
Lifts |
5 |
Leased |
|
|
|
7.
Other |
|
|
|
|
Head
OfficeOwned/ Rented |
Owned |
|
Rental Company |
|
|
Owned by |
SIKA SOUTH AFRICA (PTY) LTD |
|
Value |
R20 000 000 |
|
Bond |
None |
|
Bank |
|
|
Lease Agreement |
|
|
Lease Expire
Date |
|
|
Type of Premises |
office, warehouse and factory |
Branches Owned/
Rented |
Johannesburg owned, Others rented |
|
Rental Company |
|
|
Owned by |
Johannesburg -SIKA SOUTH AFRICA (PTY) LTD |
|
Value |
|
|
Bank |
|
|
Bond |
|
|
Lease Agreement |
|
|
Lease Expire
Date |
|
|
Type of Premises |
Warehouse and office |
Trade References
|
Supplier |
Contact |
|
1)
REVERTEX |
031 4808100 |
|
2)
SERVOCHEM |
031 5737800 |
|
3)
AFROX |
011 8205495 |
|
4)
DHL INTERNATIONAL |
021 3671301 |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1)10 years |
R1 000 000 |
R500 000 |
30 days -2.5% |
R500 000 |
30 days -2.5% |
Excellent |
|
2)Old |
R1 000 000 |
R300 000 |
30 days |
R100 000-R200
000 |
30 days |
Very Good |
|
3)Do |
Not |
Give |
Trade |
References |
|
|
|
4)Do |
Not |
Give |
Trade |
References |
|
|
Adverse
Information on Subject
|
Judgements |
None |
|
Possible
Judgements |
None |
|
Civil Court |
None |
|
RDs |
None |
Default Data
|
Date |
Details |
|
None |
|
Notarial Bonds
|
Date |
Details |
|
None |
|
Deeds Information
|
Property Interest |
|||
|
Title Deed No. |
T11159/1999 |
Erf/Site No. |
|
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
9 HOCKING ALEXANDER PARK PINETOWN |
|
Property Type |
Freehold/ Ervin |
Extent / Size |
1.9511SQM |
|
Purchase Date |
1998-12-23 |
Purchase price |
R5650000 |
|
% Ownership |
0.0000 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
R0 |
|
Property Interest |
|||
|
Title Deed No. |
T11159/1999 |
Erf/Site No. |
|
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
30 ALEXANDER PARK PINETOWN |
|
Property Type |
Freehold/ Ervin |
Extent / Size |
9166.0SQM |
|
Purchase Date |
1998-12-23 |
Purchase price |
R5650000 |
|
% Ownership |
0.0000 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
R0 |
Bank Information
|
Bank |
STANDARD BANK |
|
Branch |
BRIARDENE |
|
Bank Account
Number |
250744031 |
|
Type of Account |
Business Cheque Account |
|
Branch Code |
043626 |
|
Account Name |
SIKA SOUTH AFRICA (PTY) LTD |
|
Overdraft
Facilities |
Yes , R3 000 000 just been put into place |
|
Bank Code |
|
|
Bank Comment |
|
Bank CodesHistory
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
|
None |
|
|
|
|
|
|
Previous Bank
Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
None |
|
|
|
|
|
Financial Information
Financial
Estimates
|
CURRENT ASSETS |
R94 715 000 |
|
FIXED ASSETS |
R30 000 000 |
|
CURRENT
LIABILITIES |
R89 358 000 |
|
LONG TERM
LIABILITIES |
R4 500 000 |
|
Morgage Bonds |
None |
|
ANNUAL Turnover |
R220 000 000 |
|
Estimated
Current Year Turnover |
R261 000 000 |
Principals
|
Number of
Principals |
3 |
|
Average Age of
Active Principals |
43 |
Active Principals
Principal 1 of 3
|
Surname |
ADAMS |
|
First Names |
PAUL |
|
Marital Status |
Married |
|
ID Number |
6502175142081 |
|
Verified ID
Number |
Yes |
|
Current Age |
46 |
|
Designation |
Managing Director |
|
Status |
Active |
|
Appointment Date |
2010-03-01 |
|
Address (at time of
Appointment) |
25 Kloof Falls Road KLOOF 3610 |
Adverse
Information on Principal
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information on
Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
Previous Business
Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
T1835/2004 |
Erf/Site No. |
|
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
25 KLOOF FALLS KLOOF |
|
Property Type |
Freehold/ Ervin |
Extent / Size |
4132.0SQM |
|
Purchase Date |
2003-10-11 |
Purchase price |
R1180000 |
|
% Ownership |
0.0000 |
Bond Holder |
STANDARD BANK |
|
Bond Number |
B15392004 |
Bond Amount |
R400000 |
Principal 2 of 3
|
Surname |
PATEL |
|
First Names |
KHUSHROO |
|
Marital Status |
Married |
|
ID Number |
L3070247 |
|
Verified ID
Number |
No |
|
Current Age |
52 |
|
Designation |
Accountant |
|
Status |
Active |
|
Appointment Date |
2010-01-25 |
|
Address (at time
of Appointment) |
Appt 3007 The Link Towers West GREENS DUBAI UAE |
Adverse
Information on Principal
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information on Principal
Current Business
Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
Previous Business
Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
|
Title Deed No. |
None |
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 |
CHADWICK |
|
First Names |
IVEN PETER |
|
Marital Status |
Married |
|
ID Number |
600516 |
|
Verified ID
Number |
No |
|
Current Age |
51 |
|
Designation |
Regional Manager |
|
Status |
Active |
|
Appointment Date |
2009-06-05 |
|
Address (at time
of Appointment) |
25 Kloof Falls Road KLOOF 3610 |
Adverse
Information on Principal
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information on Principal
Current Business
Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
Previous Business
Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
|
Title Deed No. |
None |
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.48.87 |
|
UK Pound |
1 |
Rs.78.11 |
|
Euro |
1 |
Rs.68.36 |
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.