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MIRA
INFORM REPORT
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Report Date : |
14.10.2011 |
IDENTIFICATION DETAILS
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Name : |
MERIDIAN AGROCHEMICAL COMPANY (PTY) LTD |
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Registered Office : |
27 Ronbex Road P O Box 436 Modderfontein 1645 |
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Country : |
South Africa |
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Date of Incorporation : |
05.06.2000 |
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Com. Reg. No.: |
2000/010819/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacture of pesticides and other
agro-chemical products |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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
This is an established small company.
The subject is meeting local commitments
timeously.
Financial data was declined.
A bank code revealed a C for R500 000.
In view of the absence of detailed financial
information it is suggested dealings be fully secured.
Company Information
|
Registered
Name |
MERIDIAN AGROCHEMICAL COMPANY (PTY) LTD |
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Trading
as |
Meridian Agritech |
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Registration
Number |
2000/010819/07 |
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Registration
Date |
2000-06-05 |
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History of
Business |
The subject was commenced by MIKE DAWSON in 2000. |
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Age of Company |
11 years 4 months |
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Status |
Active |
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Operations
Assessment |
The development and distribution of crop
protection chemicals such as fungicides, insecticides, herbicides etc |
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Area of
Distribution |
South Africa |
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Major Industry
Code / SICC |
33510 MANUFACTURING |
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Definition of
Code |
Manufacture of pesticides and other
agro-chemical products |
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Head Office
Physical Address |
27 Ronbex Road |
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Head Office
Postal Address |
P O Box 436 MODDERFONTEIN 1645 |
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Current Tel
Number Cell number |
011 822 8509 |
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Current Fax
Number |
011 822 3494 086 719 7927 |
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Current Email
Address |
Auditors Information
|
Company
Registered Name |
JD HILL AND COMPANY INC |
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Registration
Number |
1996/001241/21 |
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Physical Address |
93 Bedford Avenue BENONI Gauteng |
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Postal Address |
P O Box 492 BENONI 1500 |
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Contact Person |
Dawn Botha |
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Telephone Number |
011 4217146 |
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Principals |
MR J D HILL |
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Judgements on the
subject |
None |
|
Judgements on
the principals |
None |
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Tax number |
9001393801 |
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Year end |
April |
Previous Auditors
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Company Name/ Tel |
Time With Previous Auditors |
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No information on record |
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Tax Information
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Vat Number |
4120189206 |
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Status |
Active |
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Vat Liable Date |
2000-06-05 |
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Tax Number |
9451059142 |
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Financial Year
End |
June |
Black Economic Empowerment
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Status |
Non Compliant |
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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 |
N/A |
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ISO Certificate |
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ISO Certificate
Available |
Yes/No |
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Certified by
anAccredited Agent |
Yes/No |
Workman’s compensation
|
Registered |
Yes |
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Compliance
Certified |
Yes |
Company Structure
|
Branches |
Only the one
office |
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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 |
4 |
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1.
Salaried
employees |
4 |
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2.
Waged
employees |
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3.
Permanent
employees |
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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 |
0 |
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1.
Cars |
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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 |
USUTU RIVER PROPERTIES |
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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 |
Yes |
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Lease Expire
Date |
2013 |
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Type of Premises |
Industrial factory and offices |
Trade References
|
Supplier |
Contact |
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1)
WORLDNET LOGISTICS |
011 6080100 |
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2)
GAZELLE |
011 9791129 |
Trade References
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Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
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1)
2003 |
Declined |
R500 000+ |
30 days |
Declined |
30 days |
Excellent |
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2)
2 years |
None |
R60 000 |
30 days |
R60 000 |
30 days |
Very Good |
Adverse Information on Subject
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Judgements |
No information on record |
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Possible
Judgements |
No information on record |
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Civil Court
Records |
No information on record |
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RDs |
No information on record |
Default Data
|
Date |
Details |
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No information on record |
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Notarial Bonds
|
Date |
Details |
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No information on record |
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Deeds Information
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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
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Bank |
STANDARD BANK |
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Branch |
BOKSBURG |
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Bank Account
Number |
020680244 |
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Type of Account |
Cheque |
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Branch Code |
011842 |
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Account Name |
MERIDIAN AGROCHEMICAL COMPANY (PTY) LTD |
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Bank Code |
C |
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Bank Comment |
The subject is considered as equal to its normal business engagements. |
Bank CodesHistory
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
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No information on record |
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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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No information on record |
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Financial Information
Financial Estimates
Financial information was not forthcoming
from the subject.
Principals
|
Number
of Principals |
1 |
|
Average Age of
Active Principals |
37 |
Active Principals
Principal 1 of 1
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Surname |
DAWSON |
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First Names |
MICHAEL |
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ID Number |
7402285013083 |
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Verified ID
Number |
Yes |
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Current Age |
37 |
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Designation |
Scientist / director |
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Status |
Active |
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Appointment Date |
2000-06-05 |
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Address (at time
of Appointment) |
48 Beverley Avenue Highway Gardens EDENVALE 1609 |
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 |
|
LOQUAT
INVESTMENTS 433 CC |
2000/002380/23 |
Deregistration
process |
0 |
No |
|
PLANT SCIENCE
CONSULTANTS ASSOCIATION |
2005/002073/08 |
In business |
0 |
No |
|
USUTU RIVER
PROPERTIES CC |
2007/178224/23 |
In business |
0 |
No |
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AGRITECH
BIOSCIENCE (PTY) LTD |
2008/004392/07 |
In business |
0 |
No |
|
SNYNOVATECH
(PTY) LTD |
2009/006105/07 |
In business |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
27 years 3 months |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
GLENZEL
PROPERTIES CC |
1995/029384/23 |
In business |
0 |
No |
|
PARAGON TURF AND
ORNAMENTAL CC |
2000/059436/23 |
Deregistration
process |
0 |
No |
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
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Title Deed No. |
T26748/2005 |
Erf/Site No. |
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|
Deeds Office |
JOHANNESBURG |
Physical Address |
48 Beverley Highway Gardens GERMISTON |
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Property Type |
Freehold / Ervin |
Extent / Size |
1099.0sqm |
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Purchase Date |
2005-01-25 |
Purchase price |
R870,000.00 |
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% Ownership |
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Bond Holder |
Investec Bank Ltd |
|
Bond Number |
B350912005 |
Bond Amount |
R870,000.00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.02 |
|
|
1 |
Rs.77.13 |
|
Euro |
1 |
Rs.67.55 |
RATING EXPLANATIONS
|
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 |
|
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 |
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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.