MIRA INFORM REPORT
|
Report Date : |
12.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
CIPLA MEDPRO SOUTH AFRICA LTD |
|
|
|
|
Registered Office : |
1474 South Coast Road, Mobeni, Durban |
|
|
|
|
Country : |
South Africa |
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|
|
|
Financials (as on) : |
31.12.2010 |
|
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|
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Date of Incorporation : |
25.07.2002 |
|
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Com. Reg. No.: |
2002/018027/06 |
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|
Legal Form : |
Limited Company |
|
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|
Line of Business : |
Manufacturing of pharmaceuticals and providing chronic medicines to
the public and public sectors |
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 : |
Usually Correct |
|
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:
On investigation it was stated that the correct name of the operating,
importing company in the group is CIPLA MEDPRO SOUTH AFRICA LTD. There is a
company namely CIPLA- MEDPRO (PTY) LTD, which is dormant.
On contacting the financial manger it was stated that no information
would be provided whatsoever.
Nevertheless the information below was obtained.
The subject is a listed company on the Johannesburg Stock Exchange and would be considered as sound, financially.
Company Information
|
Registered
Name |
CIPLA MEDPRO SOUTH AFRICA LTD Listed on the JSE |
|
Trading
as/ Division Name |
CIPLA MEDPRO MANUFACTURING ANIMAL NUTRITION - CIPLA Vet - CIPLA Agricare - CIPLA Agrimed CIPLA NUTRICIAN |
|
Previous Name |
None |
|
Date of Name
Change |
N/A |
|
Registration
Number |
2002/018027/06 |
|
Registration
Date |
2002-07-25 |
|
History of
Business |
The subject was born from a joint venture between CIPLA INTERNATIONAL
and the South Africa company MEDPRO PHARMACEUTICA. The operations have been in
existence since 1935. |
|
Shareholders of
subject and % holding |
The major shareholders of the subject are: 18.06% SWEET SENSATION 67 (PTY) LTD 6.78% GOVERNMENT EMPLOYEES PENSION FUND 3.95% LIBERTY LIFE ASSOCIATION OF AFRICA LTD 3.94% STD PHARMA LIMITED 3.71% JS PHARM TRUST (J S SMITH) The remainder of the shares are the general investors on the stock
exchange. |
|
Authorised Share
Capital |
R500 000 divides into 500 000 000 ordinary shares of
0.1 cent each. |
|
Issued Share
Capital |
R450 000 |
|
Age of Company |
9 years 2 months |
|
Status |
In Business |
|
Operations
Assessment |
Manufacturing of pharmaceuticals and
providing chronic medicines to the public and public sectors. |
|
Industry/
Customers |
Retailers, wholesalers, medical sector. |
|
Major Industry
Code / SICC |
33530 Manufacturing |
|
Definition of
Code |
Manufacture of pharmaceuticals, medicinal
chemicals and botanical products. |
|
Head Office
Physical Address |
1474 South Coast Road MOBENI Durban |
|
Head Office
Postal Address |
P O Box 32003 MOBENI 4060 |
|
Current Tel
Number |
031 4513800 |
|
Current Fax
Number |
031 4513887 |
|
Web Site Address |
Auditors Information
|
Company Registered
Name |
MAZARS |
|
Trading Name |
None |
|
Registration
Number |
2002/012969/21 |
|
Physical Address |
Rialto Road Grand Moorings Precinct CENTURY CITY 7441 |
|
Postal Address |
PO Box 2785 CAPE TOWN 8001 |
|
Contact Number |
021 8185000 |
|
Subject Verified
as Client |
Yes |
|
SAICA number |
900222 |
Previous
Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
KPMG |
Unknown |
|
MALHERBE LOURENS |
Unknown |
Tax
Information
|
Vat Number |
4030202974 |
|
Status |
Active |
|
Tax Number |
9987069144 |
|
Financial Year
End |
December |
Black
Economic Empowerment
|
Status |
Yes |
|
Score |
Level 4 |
|
Expire Date |
Not available |
|
BEE Certificate
Available |
No |
ISO Status
|
Type of ISO
Grade |
Not Available |
|
ISO Certificate |
Yes/No |
|
ISO Certificate
Available |
Yes/No |
|
Certified
by an Accredited Agent |
Yes/No |
Workman’s
compensation
|
Registered |
Not Available |
|
Compliance
Certified |
Yes/No |
Company Structure
|
Branches |
There are branches
throughout South Africa with the main manufacturing facility in Durban. |
|
Subsidiary
Company |
CIPLA MEDPRO
MANUFACTURING (PTY) LTD |
|
Shareholding |
100% |
|
Registration
Number |
2005/021116/07 |
|
Subsidiary
Company |
GALILEE MARKETING
(PTY) LTD |
|
Shareholding |
100% |
|
Registration
Number |
2006/027361/07 |
|
Subsidiary
Company |
INYANGA TRADING
386 (PTY) LTD |
|
Shareholding |
100% |
|
Subsidiary
Company |
XERAGEN
LABORATORIES (PTY) LTD (PTY) LTD |
|
Shareholding |
100% |
|
Registration
Number |
1999/012830/07 |
|
Number of
Employees |
611 in total 60
at the distribution centre |
Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding
Balance |
|
Fleet Operations |
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The Fleet is made
up of |
Not Available |
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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 |
Not Available |
|
Rental Company |
|
|
Owned by |
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|
Value |
|
|
Bond |
|
|
Bank |
|
|
Lease Agreement |
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|
Lease Expire
Date |
|
|
Type of Premises |
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Trade References
|
Supplier |
Contact |
|
Not Available |
|
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
Not Available |
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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 |
|||
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Property Type: |
None 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
|
Bank |
NEDBANK and ABSA BANK |
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
Please see the latest financials attached.
The subject completes the following distribution on an annual basis:
30 million units picked, packed, invoiced and shipped.
3 600 000 kg of product shipped
42 000 consignments sent
Principals
|
Number of
Principals |
7 |
|
Average Age of
Active Principals |
Unknown |
Active Principals
Principal 1 of 7
|
Surname |
AUCAMP |
|
First Names |
CHRISTIAAN |
|
ID Number |
6207135016082 |
|
Verified ID
Number |
Yes |
|
Current Age |
49 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2007-08-17 |
|
Address (at time of
Appointment) |
11 Mountainview Crescent Durbell DURBANVILLE 7550 |
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 |
|
AYLESBURY
HOLDINGS (PTY) LTD |
1990/003658/07 |
Deregistration
Process |
0 |
No |
|
MEDPRO
PHARMACEUTICA (PTY) LTD |
1992/000182/07 |
In Business |
0 |
No |
|
CIPLA-MEDPRO
DISTRIBUTION (PTY) LTD |
1993/004005/07 |
In Business |
0 |
No |
|
CREAM CROP
INVESTMENTS (PTY) LTD |
1993/004599/07 |
Deregistration Process |
0 |
No |
|
CIPLA-MEDPRO
(PTY) LTD |
1995/004182/07 |
Dormant |
0 |
No |
|
XERAGEN
LABORATORIES (PTY) LTD |
1999/012830/07 |
In Business |
0 |
No |
|
CIPLA LIFE
SCIENCES (PTY) LTD |
2000/001167/07 |
In Business |
0 |
No |
|
CIPLA HEALTH
CARE (PTY) LTD |
2000/001463/07 |
In Business |
0 |
No |
|
CIPLA MEDPRO
HOLDINGS (PTY) LTD |
2000/018468/07 |
In Business |
0 |
No |
|
MEDPRO GEN (PTY)
LTD |
2000/025183/07 |
In Business |
0 |
No |
|
CIPLA PERSONAL
CARE (PTY) LTD |
2001/008573/07 |
In Business |
0 |
No |
|
CIPLA VET (PTY)
LTD |
2001/017471/07 |
In Business |
0 |
No |
|
MEDPRO-ON-LINE
(PTY) LTD |
2002/025721/07 |
In Business |
0 |
No |
|
SMITH AND COUZIN
(PTY) LTD |
2002/025723/07 |
In Business |
0 |
No |
|
CIPLA MEDPRO ARV
(PTY) LTD |
2003/008790/07 |
In Business |
0 |
No |
|
GARDIAN CIPLA
(PTY) LTD |
2003/028754/07 |
In Business |
0 |
No |
|
CIPLA MEDPRO
CARDIO RESPIRATORY (PTY) LTD |
2004/001451/07 |
In Business |
0 |
No |
|
CIPLA MEDPRO
MANUFACTURING (PTY) LTD |
2005/021116/07 |
In Business |
0 |
No |
|
CIPLA DIBCARE
(PTY) LTD |
2005/029296/07 |
In Business |
0 |
No |
|
GALILEE
MARKETING (PTY) LTD |
2006/027361/07 |
In Business |
0 |
No |
|
ZUID INVESTMENTS
(PTY) LTD |
2006/035530/07 |
In Business |
0 |
No |
|
NAMIB VENISON
(PTY) LTD |
2007/004329/07 |
In Business |
0 |
No |
|
L”AMAR (FRANCE)
PHARMATEC (PTY) LTD |
2007/009915/07 |
In Business |
0 |
No |
|
CIPLA AGRICARE
(PTY) LTD |
2007/033120/07 |
In Business |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
16 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
UNIVERSAL PHARMACEUTICALS
(PTY) LTD |
1957/003065/07 |
Voluntary
Liquidation |
0 |
Yes |
|
KAMILLEN
PHARMACEUTICALS (PTY) LTD |
1969/006528/07 |
Deregistration
Final |
0 |
No |
|
MARICO SOUTH
AFRICA (PTY) LTD |
1977/001752/07 |
In Business |
0 |
No |
|
CPF INTERNATIONAL
(PTY) LTD |
1995/007913/07 |
In Business |
0 |
No |
|
SHELSLEY
CHEMICALS (PTY) LTD |
2000/002418/07 |
Deregistration
Final |
0 |
No |
|
ADROIT
PHARMACEUTICALS (PTY) LTD |
2004?000610/07 |
Deregistration
Final |
0 |
No |
|
ALDABRI 53 (PTY)
LTD |
2004/002183/07 |
In Business |
0 |
No |
|
C V ANIMAL
HEALTH INVESTMENTS (PTY) LTD |
2004/002297/07 |
Deregistration
Final |
0 |
No |
|
BIOHARMONY (PTY)
LTD |
2005/010107/07 |
In Business |
0 |
No |
|
INYANGA
TRADING386 (PTY) LTD |
2005/041572/07 |
In Business |
0 |
No |
|
VETUS SCHOLA
HOLDINGS (PTY) LTD |
2006/027538/07 |
In Business |
0 |
No |
|
VETUS SCHOLA
PROTECTION SERVICES (PTY)LTD |
2006/028193/07 |
In Business. |
0 |
No |
Deeds Information
Property Interests of
Principle
|
Property Interest |
|||
|
Title Deed No. |
T21082/2006 |
Erf/Site No. |
|
|
Deeds Office |
CAPE TOWN |
Physical Address |
11 MOUNTAIN VIEW DURBELL DURBANVILLE |
|
Property Type |
Freehold/ Ervin |
Extent / Size |
2259.0SQM |
|
Purchase Date |
2006-02-01 |
Purchase price |
R3200000 |
|
% Ownership |
0.0000 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
R0 |
Principal 2 of 7
|
Surname |
SMITH |
|
First Names |
JEROME |
|
ID Number |
5409225170081 |
|
Verified ID
Number |
Yes |
|
Current Age |
57 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2006-09-01 |
|
Address (at time
of Appointment) |
13 Triplets Way Erinvale Estate SOMERSET WEST 7129 |
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 |
|
AYLESBURY
HOLDINGS (PTY) LTD |
1990/003658/07 |
Deregistration Process |
0 |
No |
|
EVERTRADE 23
(PTY) LTD |
2000/002417/07 |
Deregistration
Process |
0 |
No |
|
CIPLA-MEDPRO
DISTRIBUTION (PTY) LTD |
1993/004005/07 |
In Business |
0 |
No |
|
|
|
|
|
|
|
CIPLA-MEDPRO
(PTY) LTD |
1995/004182/07 |
Dormant |
0 |
No |
|
|
|
|
|
|
|
CIPLA LIFE
SCIENCES (PTY) LTD |
2000/001167/07 |
In Business |
0 |
No |
|
CIPLA HEALTH
CARE (PTY) LTD |
2000/001463/07 |
In Business |
0 |
No |
|
CIPLA MEDPRO
HOLDINGS (PTY) LTD |
2000/018468/07 |
In Business |
0 |
No |
|
MEDPRO GEN (PTY)
LTD |
2000/025183/07 |
In Business |
0 |
No |
|
CIPLA PERSONAL
CARE (PTY) LTD |
2001/008573/07 |
In Business |
0 |
No |
|
CIPLA VET (PTY)
LTD |
2001/017471/07 |
In Business |
0 |
No |
|
MEDPRO-ON-LINE
(PTY) LTD |
2002/025721/07 |
In Business |
0 |
No |
|
SMITH AND COUZIN
(PTY) LTD |
2002/025723/07 |
In Business |
0 |
No |
|
CIPLA MEDPRO ARV
(PTY) LTD |
2003/008790/07 |
In Business |
0 |
No |
|
GARDIAN CIPLA
(PTY) LTD |
2003/028754/07 |
In Business |
0 |
No |
|
CIPLA MEDPRO CARDIO
RESPIRATORY (PTY) LTD |
2004/001451/07 |
In Business |
0 |
No |
|
CIPLA MEDPRO
MANUFACTURING (PTY) LTD |
2005/021116/07 |
In Business |
0 |
No |
|
CIPLA DIBCARE
(PTY) LTD |
2005/029296/07 |
In Business |
0 |
No |
|
JAMY INVESTMENTS
(PTY) LTD |
2000/030031/07 |
Conversion CO/CC
or CC/CO |
0 |
No |
|
ZUID INVESTMENTS
(PTY) LTD |
2006/035530/07 |
In Business |
0 |
No |
|
NAMIB VENISON
(PTY) LTD |
2007/004329/07 |
In Business |
0 |
No |
|
L”AMAR (FRANCE)
PHARMATEC (PTY) LTD |
2007/009915/07 |
In Business |
0 |
No |
|
CIPLA AGRICARE
(PTY) LTD |
2007/033120/07 |
In Business |
0 |
No |
|
DARLING FRESH
CHICKEN HOLDINGS (PTY) LTD |
2007/018565/07 |
In Business |
0 |
No |
|
MEDPRO
PHARMACEUTICA AFRICA (PTY) LTD |
2008/023062/07 |
In Business |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
7 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
3D
DERMATOLOGICAL PRODUCTS CC |
1995/019167/23 |
Deregistration
Final |
0 |
Yes |
|
C V PHARMA (PTY)
LTD |
2003/030734/07 |
Deregistration
Final |
0 |
No |
|
C V ANIMAL
HEALTH INVESTMENTS (PTY) LTD |
2004/002297/07 |
Deregistration
Final |
0 |
No |
|
INYANGA
TRADING386 (PTY) LTD |
2005/041572/07 |
In Business |
0 |
No |
|
VETUS SCHOLA
HOLDINGS (PTY) LTD |
2006/027538/07 |
In Business |
0 |
No |
|
VETUS SCHOLA
PROTECTION SERVICES (PTY)LTD |
2006/028193/07 |
In Business. |
0 |
No |
|
DFC HATCHERY
(PTY) LTD |
2007/023531/07 |
In Business |
0 |
No |
|
DFC BREEDER FARM
(PTY) LTD |
2007/023870/07 |
In Business |
0 |
No |
|
DFC BROILER FARM
(PTY) LTD |
2007/024024/07 |
In Business |
0 |
No |
Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
|
Title Deed No. |
T21082/2006 |
Erf/Site No. |
|
|
Deeds Office |
CAPE TOWN |
Physical Address |
11 MOUNTAIN VIEW DURBELL DURBANVILLE |
|
Property Type |
Freehold/ Ervin |
Extent / Size |
2259.0SQM |
|
Purchase Date |
2006-02-01 |
Purchase price |
R3200000 |
|
% Ownership |
0.0000 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
R0 |
Principal 3 of 7
|
Surname |
NGOZWANA |
|
Initials |
S |
|
Designation |
Director |
|
Status |
Active |
Principal 4 of 7
|
Surname |
DE JONGH |
|
Initials |
N (DR) |
|
Designation |
Director |
|
Status |
Active |
Principal 5 of 7
|
Surname |
BRINK |
|
Initials |
J |
|
Designation |
Director |
|
Status |
Active |
Principal 6 of 7
|
Surname |
SERFONTEIN |
|
Initials |
D (DR) |
|
Designation |
Director |
|
Status |
Active |
Principal 7 of 7
|
Surname |
VAN STADEN |
|
Initials |
J |
|
Designation |
Director |
|
Status |
Active |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.38 |
|
UK Pound |
1 |
Rs.74.01 |
|
Euro |
1 |
Rs.64.48 |
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.