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MIRA INFORM REPORT
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Report Date : |
05.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
SUPAPACKERS FISH PROCESSORS (PTY) LTD |
|
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|
|
Registered Office : |
169 Niel Hare Road, Atlantis Industria, Atlantis, Western Cape |
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Country : |
South Africa |
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Date of Incorporation : |
24.06.2009 |
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Com. Reg. No.: |
2009/012426/07 |
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|
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|
Legal Form : |
Private Company |
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Line of Business : |
Importing, Processing, Wholesaling and Exporting
of frozen fish, shellfish and related 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 |
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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 – 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 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Assessment:
This is a family owned company, which converted from a close
corporation.
Suppliers speak highly of the subject.
The subject is meeting its commitments timeously.
Your figure is considered as too high.
The subject’s bankers consider them good for all business normal
engagements and to an amount of R1 500 000 over 30 days.
Company Information
|
Registered
Name |
SUPAPACKERS FISH
PROCESSORS (PTY) LTD |
|
Registration
Number |
2009/012426/07 |
|
Registration
Date |
24 June 2009 |
|
Date Commenced
Trading |
2002 |
|
History of
Business |
The subject was originally registered as CELLTRONIX CC, which
commenced active operations after it changed its name to SUPAPACKERS FISH
PROCESSORS CC in 2002. The latter close corporation converted to a private company in June
2009. |
|
Shareholders of subject
and % holding |
100% SUPAPACKERS HOLDINGS (PTY) LTD – registration certificate
number: 2010/009574/07, which is in
turn owned: 37.5% RABBI TRUST 37.5% PACALUSE TRUST 25% GESFIGASA S.A. in Spain |
|
Issued Share
Capital |
160 ordinary shares of R1 each |
|
Age of Company |
2 years 3 months |
|
Status |
Active |
|
Operations
Assessment |
Importing, processing, wholesaling and
exporting of frozen fish, shellfish and related products. The subject outsources its processing to its
associated company, ATLANTIS SEAFOOD PRODUCTS (PTY) LTD. |
|
Industry/
Customers |
Wholesalers such as BLUE MARINE, SEA
WORLD, distributors and on a smaller scale to fish and chip fast food shops. |
|
Area of
Distribution |
South Africa |
|
Export |
Mainly to neighbouring countries, Namibia,
Botswana, Mozambique and on a smaller scale to the rest of the world. |
|
Major Industry
Code / SICC |
30120 MANUFACTURING |
|
Definition of
Code |
Manufacture of canned, preserved and
processed fish, crustacea |
|
Head Office
Physical Address |
169 Niel Hare Road ATLANTIS INDUSTRIA Atlantis,Western Cape |
|
Head Office
Postal Address |
P O Box 1577 DASSENBERG 7350 |
|
Current Tel
Number Cell number |
021 577 4777 084 616 6600 |
|
Current Fax
Number |
021 577 4999 |
|
Current Email
Address |
Auditors Information
|
Company
Registered Name |
C2M CHARTERED ACCOUNTANTS INC |
|
Registration
Number |
2007/009036/21 |
|
Physical Address |
2nd Floor, Tygerforum B 53 Willie van Schoor Avenue TYGERVALLEY 7530 |
|
Postal Address |
P O Box 3347 TYGERVALLEY 7536 |
|
Contact Person |
Carel Bester |
|
Contact Number |
021 914 0261 |
|
Email |
|
|
Principals |
4 |
|
Judgements
Against Subject |
None on record |
|
Judgements
Against Principals |
None on record |
|
Subject Verified
as Client |
Yes |
|
Practice number |
958662 |
|
VAT Number |
4670243932 |
|
Tax Number |
9370031164 |
|
BEE Status |
Non-compliant |
|
Financial Year
End |
February |
|
Years With
Auditors |
Since 2002 |
|
Website |
Previous Auditors
|
Company Name/ Tel |
|
None,The respondent stated that they have been dealing with the
current auditors since date of inception in 2002. |
Tax Information
|
Vat Number |
4500202637 |
|
Status |
Active |
|
Tax Number |
9433311140 |
|
Tax Clearance
Expire Date |
23 September 2011 |
|
Financial Year
End |
April |
Black Economic
Empowerment
|
Status |
Non-compliant |
|
Score |
|
|
Expire Date |
|
|
BEE Certificate
Available |
Yes/No |
ISO Status
|
Type of ISO
Grade |
|
|
ISO Certificate |
Yes |
|
ISO Certificate
Available |
Yes/No |
|
Certified by
anAccredited Agent |
Yes/No |
Workman’s
compensation
|
Registered |
No |
|
Compliance
Certified |
No |
Company Structure
|
Branches |
None |
|
Subsidiary
Company |
None |
|
Shareholding |
|
|
Registration
Number |
|
|
Import / Export |
|
|
Number of
Employees |
|
|
1.
Permanent
employees |
8 |
It was stated that there are approximately 200 factory workers and 10 administrative staff employed at the associated company, ATLANTIS SEAFOOD PRODUCTS (PTY) LTD.
Company Fleet |
No of vehicles: |
Owned/ Leased |
|
Fleet Operations |
|
|
|
The Fleet is
made up of |
|
|
|
1.
Cars |
3 |
Owned by the
subject |
|
2.
Trucks |
1 |
Leased from
ATLANTIS SEAFOOD PRODUCTS (PTY) LTD |
Head
OfficeOwned/ Rented |
The heading premises are reported to be owned by SUPAPACKERS FISH
PROCESSORS (PTY) LTD. |
|
Bond |
Outstanding bond of R1 400 000 in favour of First National
Bank. |
|
Type of Premises |
The heading premises comprise of administration offices, processing
plant and 2 cold storage facilities. |
Trade References
The subject imports frozen fish from India and other undisclosed countries.
|
Supplier |
Contact |
|
1)
NTLANZI
FISHING ENTERPRISES |
011 421
5818 |
|
2)
TORALLA
VESSEL CO |
021 421
5818 |
|
3)
COMMERCIAL
COLD STORAGE |
021 446
6560 |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1)
Old
acc |
Confidential |
Large Amounts |
30 |
Large amounts |
30 |
Very good |
|
2)
Old
acc |
Confidential |
Large amounts |
30 |
Large amounts |
30 |
Very good |
|
3)
Old
acc |
Open |
R200 000 |
30 |
R200 000 |
30 |
Very good |
Adverse
Information on Subject
|
Judgements |
No information on record |
|
Possible
Judgements |
No information on record |
|
Civil Court |
No information on record |
|
RDs |
No information on record |
Default Data
|
Date |
Details |
|
No information on record |
|
Notarial Bonds
|
Date |
Details |
|
No information on record |
|
Deeds Information
|
Property Interest |
|||
|
Title Deed No. |
560274/2008 |
Erf/Site No. |
|
|
Deeds Office |
CAPE TOWN |
Physical Address |
Atlantis Industrial ATLANTIS |
|
Property Type |
FARMS |
Extent / Size |
4.484sqm |
|
Purchase Date |
2008-05-16 |
Purchase price |
R3,303,750.00 |
|
% Ownership |
|
Bond Holder |
Firstrand Bank |
|
Bond Number |
B565042008 |
Bond Amount |
R4,110,000.00 |
Bank Information
|
Bank |
FIRST NATIONAL BANK |
|
Branch |
Tygerberg |
|
Bank Account
Number |
62046364486 |
|
Type of Account |
Cheque |
|
Branch Code |
201410 |
|
Account Name |
SUPAPACKERS FISH PROCESSORS (PTY) LTD |
|
Overdraft
Facilities |
It was stated that the subject enjoys a substantial overdraft
facility, secured by various sureties such as guarantees from the directors,
stock and property. The respondent stated that the overdraft is mainly utilized for letter
of credit and trade capital purposes. |
|
Bank Code |
C |
|
Bank Comment |
The subject’s bankers consider them good for all business normal
engagements |
Bank CodesHistory
|
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 |
|
None |
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|
|
|
Financial Information
Financial
Estimates
|
CURRENT ASSETS |
|
|
Stock |
R 10 000 000 –
R20 000 000 |
|
Debtors |
R 20 000 000 –
R30 000 000 |
|
Cash on Hand |
|
|
FIXED ASSETS |
|
|
Plant,
Equipment, Vehicles |
R 40 000 000 –
R50 000 000 – group figures - net book |
|
Property (land, building,
equipment) |
R 70 000 000 |
|
CURRENT
LIABILITIES |
|
|
Creditors |
R 5 000 000 –
R 6 000 000 |
|
Directors Loans |
declined |
|
LONG TERM
LIABILITIES |
|
|
ANNUAL Turnover |
R214 000 000 |
|
Projected annual
Turnover |
R240 000 000 |
Principals
|
Number of Principals |
2 |
|
Average Age of
Active Principals |
39 |
Active Principals
Principal 1 of 2
|
Surname |
FIGUEIREDO |
|
First Names |
SERGIO NUNO DE BRITO |
|
Marital Status |
Unmarried |
|
ID Number |
7308055575088 |
|
Verified ID
Number |
No |
|
Current Age |
38 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2009-06-24 |
|
Address (at time of
Appointment) |
2 Klippers Street WELGEMOED 7530 |
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 |
|
SILVER STREAMS
SEAFOOD CC |
2005/120010/23 |
In business |
0 |
No |
|
ATLANTIS SEAFOOD
PRODUCTS (PTY) LTD |
2010/018540/07 |
In business |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
9 years 2 months |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
BIG SKY TRADING
155 CC |
2002/048567/23 |
Deregistration
final |
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 |
|
|
Surname |
FIGUEIREDO |
|
First Names |
LUIS, M, D, B |
|
Marital Status |
Married |
|
ID Number |
7102185383087 |
|
Verified ID
Number |
Yes |
|
Current Age |
40 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2009-06-24 |
|
Address (at time of
Appointment) |
Portion 5 Twistfontein Farm MELKBOSSTRAND 7441 |
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 |
|
SILVER STREAMS
SEAFOOD CC |
2005/120010/23 |
In business |
0 |
No |
|
WEST COAST VAN
REENEN INVESTMENTS CC |
2006/142479/23 |
In business |
0 |
No |
|
SUPAPACKERS
HOLDINGS (PTY) LTD |
2010/009574/07 |
In business |
0 |
No |
|
ATLANTIS SEAFOOD
PRODUCTS (PTY) LTD |
2010/018540/07 |
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.49.23 |
|
UK Pound |
1 |
Rs.76.07 |
|
Euro |
1 |
Rs.65.06 |
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.