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MIRA INFORM REPORT
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Report Date : |
09.11.2011 |
IDENTIFICATION DETAILS
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Name : |
JADE PHARMACEUTICAL ENTERPRISES (PTY) LTD |
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Registered Office : |
76 Lechwe Street, Corporate Park South, Midrand, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
06.08.2008 |
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Com. Reg. No.: |
2008/018865/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Importing of pharmaceutical raw materials. |
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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 : |
Small Company |
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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 |
Assessment:
The subject is a small family business that is not a general credit seeker
locally.
A maximum of R400 000 was traced in a trade reference.
A bank code C was obtained for an amount of R500 000 over 30 days.
It would be suggested that all dealings be on a secured basis.
Company Information
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Registered
Name |
JADE PHARMACEUTICAL ENTERPRISES (PTY) LTD |
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Trading
as/ Division Name |
None |
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Previous Name |
STONECAP TRADING 66 (PTY) LTD |
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Date of Name
Change |
2008-08-20 |
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Registration
Number |
2008/018865/07 |
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Registration
Date |
2008-08-06 |
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Date Commenced Trading |
2008 |
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History of
Business |
The subject commenced as a new business in 2008 |
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Shareholders of
subject and % holding |
50 % D GROENEWALD 50% MRS A GROENEWALD ( Wife) |
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Authorised Share
Capital |
R1000 |
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Issued Share
Capital |
R100 |
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Age of Company |
3 years 3 months |
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Status |
In Business |
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Operations
Assessment |
Importing of pharmaceutical raw materials. |
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Industry/
Customers |
Pharmaceutical manufacturers |
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Export |
Neighbouring countries |
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Major Industry
Code / SICC |
61392 Wholesale Retail |
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Definition of
Code |
Wholesale trade in pharmaceuticals |
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Head Office
Physical Address |
76 Lechwe Street Corporate Park South MIDRAND Gauteng |
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Head Office
Postal Address |
P O Box 1849 FAERIE GLEN 0043 |
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Current Tel
Number |
011 3144547/ 2373680 |
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Current Fax
Number |
011 2373681/ 0866 731840 |
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Current Email
Address |
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Web Site Address |
Auditors Information
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Company
Registered Name |
GRIESEL NEL INCORPORATED |
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Trading Name |
None |
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Registration
Number |
2001/003979/21 |
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Physical Address |
7 Centura Office Park 265 Von Willich Avenue CENTURION 0157 |
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Postal Address |
P O Box 7158 CENTURION 0046 |
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Contact Person |
PETER CARRIS |
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Contact Number |
012 6631735 |
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Email |
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Principals |
6 |
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Judgements Against
Subject |
None |
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Judgements
Against Principals |
None |
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Subject Verified
as Client |
Yes |
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SAICA number |
933619 |
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VAT Number |
4470209935 |
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Tax Number |
9569125140 |
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Financial Year
End |
February |
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Years With
Auditors |
Many |
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Website |
Previous Auditors
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Company Name/ Tel |
Time With Previous Auditors |
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FENFIVE INCORPORATED |
Unknown |
Tax Information
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Vat Number |
4920250299 |
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Status |
Active |
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Vat Liable Date |
Every 3rd Month- Due December 2011 |
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Tax Number |
9880009155 |
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Tax Clearance
Expire Date |
February |
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Financial Year
End |
February |
Black Economic
Empowerment
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Status |
N/A |
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Score |
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Expire Date |
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BEE Certificate Available |
Yes/No |
ISO Status
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Type of ISO
Grade |
Some products are ISO graded from overseas |
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ISO Certificate |
No, held by suppliers |
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ISO Certificate
Available |
No |
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Certified by
anAccredited Agent |
No |
Workman’s
compensation
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Registered |
Yes |
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Compliance
Certified |
Yes |
Company Structure
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Branches |
None |
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Branches Names |
Country |
Province |
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None |
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Subsidiary
Company |
None |
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Shareholding |
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Registration
Number |
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Import / Export |
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Number of
Employees |
5 |
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1.
Salaried
employees |
5 |
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2.
Waged
employees |
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3.
Permanent
employees |
5 |
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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 |
2 |
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1.
Cars |
2 |
Owned |
Unknown |
Yes, with
Standard Bank |
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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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Head
OfficeOwned/ Rented |
Rented |
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Rental Company |
TRITON PHARMACARE |
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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 |
5 years |
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Lease Expire
Date |
2012 December |
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Type of Premises |
Offcies- All storage is outsourced |
Trade References
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Supplier |
Contact |
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1)
SABILA
AIR FREIGHT |
011 6639600 Saggie Naidoo |
Trade References
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Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
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1)2008 |
R500 000 |
R400 000 |
30 days |
R300 000- R400 000 |
30 days+ |
Good |
Adverse
Information on Subject
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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 |
Default Data
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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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Deeds Information
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Property Interest |
|||
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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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Bank Information
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Bank |
STANDARD BANK |
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Branch |
MENLYN |
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Bank Account
Number |
062833308 |
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Type of Account |
Current |
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Branch Code |
012345 |
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Account Name |
JADE PHARMACEUTICAL ENTERPRISES (PTY) LTD |
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Overdraft
Facilities |
Yes R900 000 secured by the personal assets of directors. |
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Bank Code |
C for R500 000 |
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Bank Comment |
The subjects bankers consider them as good for their normal business
engagements. |
Bank CodesHistory
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Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
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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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Financial Information
Financial
Estimates
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CURRENT ASSETS |
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Stock |
R1 000 000 |
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Debtors |
R2 000 000+ due to over border customers |
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Cash on Hand |
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FIXED ASSETS |
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Plant,
Equipment, Vehicles |
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Property |
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CURRENT
LIABILITIES |
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Creditors |
Fluctuating terms for overseas |
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Loans/ From? |
D GROENEWALD- R1 500 000 |
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LONG TERM
LIABILITIES |
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Morgage Bonds |
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MONTHLY Turnover |
R2 000 000 |
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Previous Year
Turnover |
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Estimated Current
Year Turnover |
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Principals
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Number of
Principals |
3 |
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Average Age of
Active Principals |
39 |
Active Principals
Principal 1 of 3
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Surname |
GROENEWALD |
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First Names |
DEON |
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Marital Status |
Married |
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ID Number |
6909085258081 |
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Verified ID
Number |
Yes |
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Current Age |
42 |
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Designation |
Managing Director |
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Status |
Active |
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Appointment Date |
2008-08-20 |
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Address (at time
of Appointment) |
27 Nottinghill Old Farm Road FAERIE GLEN 0043 |
Adverse
Information on Principal
Judgement
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Number of
Judgements |
None |
Debt Review
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Debt review |
None |
Other
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Default data |
None |
Business Information on
Principal
Current Business Interests
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
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None |
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Previous Business
Interests
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Average Age of
Previous Business Interests |
9.5 years |
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
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KIRSCH PHARMA
SOUTH AFRICA (PTY) LTD |
1993/0005138/07 |
In Business |
2 |
No |
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DEON GROENEWALD
CC |
1996/032491/23 |
Deregistration
Final |
0 |
No |
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BAOBAB
HEALTHCARE (PTY) LTD |
2006/029446/07 |
In Business |
0 |
No |
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D AND A PROPERTY
EXCLUSIVE (PTY) LTD |
2006/030583/07 |
In Business |
0 |
No |
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SAFETECH SECURE
CC |
2007/195007/23 |
In Business |
0 |
No |
Deeds Information
Property Interests of
Principle
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Property Interest |
|||
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Title Deed No. |
T77744/2003 |
Erf/Site No. |
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Deeds Office |
PRETORIA |
Physical Address |
FAERIE GLEN PRETORIA |
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Property Type |
Freehold/ Ervin |
Extent / Size |
528.0SQM |
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Purchase Date |
2003-07-10 |
Purchase price |
R338 754.00 |
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% Ownership |
0.0000 |
Bond Holder |
STANDARD BANK |
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Bond Number |
B522692003 |
Bond Amount |
R1 600 000.00 |
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Property Interest |
|||
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Title Deed No. |
T109894/2004 |
Erf/Site No. |
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Deeds Office |
CAPE TOWN |
Physical Address |
MOQUINI COASTAL ESTATE MOSSEL BAY |
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Property Type |
Freehold/ Ervin |
Extent / Size |
775.0SQM |
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Purchase Date |
2004-08-02 |
Purchase price |
R775 000.00 |
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% Ownership |
0.0000 |
Bond Holder |
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Bond Number |
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Bond Amount |
0 |
Principal 2 of 3
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Surname |
GROENEWALD |
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First Names |
DANTRI |
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Marital Status |
Married |
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ID Number |
79062851400874 |
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Verified ID Number |
Yes |
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Current Age |
32 |
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Designation |
Director |
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Status |
Active |
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Appointment Date |
2008-08-20 |
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Address (at time
of Appointment) |
Carina laan 34 MOREHILL BENONI |
Adverse
Information on Principal
Judgement
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Number of Judgements |
None |
Debt Review
|
Debt review |
None |
Other
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Default data |
None |
Business
Information on Principal
Current Business
Interests
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
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Previous Business
Interests
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Average Age of
Previous Business Interests |
10 years |
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
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LESEP
CONSTRUCTION CC |
1994/032551/23 |
In Business |
0 |
No |
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SAFETECH SECURE
CC |
2007/195007/23 |
In Business |
0 |
No |
Deeds Information
Property Interests
of Principle
|
Property Interest |
||||||
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Title Deed No. |
T41266/2008 |
Erf/Site No. |
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Deeds Office |
JOHANNESBURG |
Physical Address |
36 CARINA MOREHILL BENONI |
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Property Type |
Freehold/ Ervin |
Extent / Size |
995.0SQM |
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Purchase Date |
2007-05-25 |
Purchase price |
R1 100 000 |
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% Ownership |
0.0000 |
Bond Holder |
ABSA BANK |
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Bond Number |
B500032008 |
Bond Amount |
R300 000 |
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Property Interest |
||||||
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Title Deed No. |
T109894/2004 |
Erf/Site No. |
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Deeds Office |
CAPE TOWN |
Physical Address |
MOQUINI COASTAL ESTATE MOSSEL BAY |
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Property Type |
Freehold/ Ervin |
Extent / Size |
775.0SQM |
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Purchase Date |
2004-08-02 |
Purchase price |
R775 000.00 |
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% Ownership |
0.0000 |
Bond Holder |
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Bond Number |
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Bond Amount |
0 |
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Principal 3 of 3
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Surname |
GROENEWALD |
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First Names |
ANLI |
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Marital Status |
Married |
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ID Number |
6707100138084 |
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Verified ID
Number |
Yes |
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Current Age |
44 |
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Designation |
Director |
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Status |
Active |
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Appointment Date |
2008-08-20 |
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Address (at time of
Appointment) |
27 Nottinghill Old Farm Road FAERIE GLEN 0043 |
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 |
|
D AND A PROPERTY
EXCLUSIVE (PTY) LTD |
2006/030583/07 |
In Business |
0 |
No |
|
SAFETECH SECURE
CC |
2007/195007/23 |
In Business |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
9.5 years |
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
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PRESENT VALUE
TRADING 54 CC |
2002/021848 |
Deregistration
Final |
|
No |
Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
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Title Deed No. |
T77744/2003 |
Erf/Site No. |
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Deeds Office |
PRETORIA |
Physical Address |
FAERIE GLEN PRETORIA |
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Property Type |
Freehold/ Ervin |
Extent / Size |
528.0SQM |
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Purchase Date |
2003-07-10 |
Purchase price |
R338 754.00 |
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% Ownership |
0.0000 |
Bond Holder |
STANDARD BANK |
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Bond Number |
B522692003 |
Bond Amount |
R1 600 000.00 |
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Property Interest |
|||
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Title Deed No. |
T109894/2004 |
Erf/Site No. |
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Deeds Office |
CAPE TOWN |
Physical Address |
MOQUINI COASTAL ESTATE MOSSEL BAY |
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Property Type |
Freehold/ Ervin |
Extent / Size |
775.0SQM |
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Purchase Date |
2004-08-02 |
Purchase price |
R775 000.00 |
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% Ownership |
0.0000 |
Bond Holder |
|
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Bond Number |
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Bond Amount |
0 |
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Property Interest |
|||
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Title Deed No. |
T1645/2006 |
Erf/Site No. |
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Deeds Office |
PRETORIA |
Physical Address |
254 BECKETT ARCADIA ORETORIA |
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Property Type |
Freehold/ Ervin |
Extent / Size |
87.0SQM |
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Purchase Date |
2005-10-02 |
Purchase price |
R775 000.00 |
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% Ownership |
0.0000 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.38 |
|
UK Pound |
1 |
Rs.79.20 |
|
Euro |
1 |
Rs.67.84 |
RATING EXPLANATIONS
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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.