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MIRA INFORM REPORT
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Report Date : |
14.09.2011 |
IDENTIFICATION DETAILS
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Name : |
POLYPAK (PTY) LTD |
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Registered Office : |
10 Station Road, Kuils River, Cape Town |
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Country : |
South Africa |
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Date of Incorporation : |
04.10.2007 |
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Com. Reg. No.: |
2007/028573/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer of plastic 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 : |
Moderate |
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Payment
Behaviour : |
Unknown |
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Litigation : |
--- |
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) |
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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:
This is an established company.
On contacting the financial director it was stated by him that the
identity of the enquirer and full reason for the enquiry be known.
Please see the available information attached.
Company
Information
|
Registered
Name |
POLYPAK (PTY) LTD |
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Previous Name |
PAVATI TRADING 22 (PTY) LTD |
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Date of Name
Change |
2009-10-04 |
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Registration
Number |
2007/028573/07 |
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Registration
Date |
2007-10-04 |
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Shareholders of
subject and % holding |
A GERBER D ENGEL P PROPHET W DICKSON |
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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 11 months |
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Status |
In Business |
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Operations
Assessment |
Flexible packaging solutions. |
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Industry/
Customers |
Food, hygiene, dairy, FMCG, beverage
industries etc: |
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Major Industry
Code / SICC |
33800 Manufacturing |
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Definition of
Code |
Manufacture of plastic products |
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Head Office
Physical Address |
10 Station Road KUILS RIVER Cape Town |
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Head Office
Postal Address |
P O Box 389 KUILS RIVER 7580 |
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Current Tel Number Cell number |
021 9035138 |
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Current Fax
Number |
021 903518 |
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Current Email
Address |
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Web Site Address |
Auditors
Information
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Company
Registered Name |
R B REECE AND ASSOCIATES |
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SAICA number |
945846 |
Previous Auditors
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Company Name/ Tel |
Time With Previous Auditors |
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TED NAIDOO INCORPORATED |
Unknown |
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PRICEWATERHOUSE COOPERS |
4 years |
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LSG INTEGRATED |
Unknown |
Tax Information
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Vat Number |
4220243424 |
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Status |
Active |
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Tax Number |
9419125167 |
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Financial Year
End |
June |
Black Economic
Empowerment
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Status |
Yes |
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Score |
Level 5 |
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Expire Date |
23 January 2010 |
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BEE Certificate
Available |
Yes, attached |
ISO Status
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Type of ISO
Grade |
22000 |
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ISO Certificate |
Yes |
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ISO Certificate
Available |
Yes/No |
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Certified by
anAccredited Agent |
Yes/No |
Workman’s
compensation
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Registered |
Yes/No |
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Compliance
Certified |
Yes/No |
Company Structure
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Branches |
Not Available |
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Branches Names |
Country |
Province |
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Not Available |
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Subsidiary
Company |
Not Available |
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Shareholding |
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Registration
Number |
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Import / Export |
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Number of
Employees |
Not Available |
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1.
Salaried
employees |
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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 |
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 |
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Rental Company |
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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 |
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Lease Expire
Date |
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Type of Premises |
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Trade References
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Supplier |
Contact |
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Not Available |
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Trade References
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Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
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Not Available |
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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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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
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Bank |
Not Available |
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Branch |
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Bank Account
Number |
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Type of Account |
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Branch Code |
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Account Name |
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Overdraft
Facilities |
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Date Opened |
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Bank Code |
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Bank Comment |
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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 |
Not Available |
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Stock |
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Debtors |
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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 |
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Loans/ From? |
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LONG TERM
LIABILITIES |
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Morgage Bonds |
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ANNUAL / MONTHLY
Turnover |
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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 |
4 |
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Average Age of
Active Principals |
46 |
Active Principals
Principal 1 of 4
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Surname |
GERBER |
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First Names |
ALBERTUS |
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ID Number |
6411225073082 |
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Verified ID
Number |
Yes |
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Current Age |
47 |
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Designation |
Businessman |
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Status |
Active |
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Appointment Date |
2010-05-24 |
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Address (at time
of Appointment) |
30 SarelCilliers Street RYNFIELD Benoni 1501 |
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 |
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B G FLEXIBLE
PACKAGING CC |
2000/020324/23 |
In Business |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
None |
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
N/A |
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Deeds Information
Property Interests of
Principle
|
Property Interest |
|||
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Title Deed No. |
T70752/2002 |
Erf/Site No. |
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Deeds Office |
JOHANNESBURG |
Physical Address |
30 SAREL CILLIERS RYNFIELD BENONI |
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Property Type |
Freehold/ Ervin |
Extent / Size |
1983.0SQM |
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Purchase Date |
2002-07-18 |
Purchase price |
R500000 |
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% Ownership |
0.0000 |
Bond Holder |
ABSA |
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Bond Number |
B445162002 |
Bond Amount |
R150000 |
Principal 2 of 4
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Surname |
ENGEL |
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First Names |
DAVID |
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ID Number |
6506225173087 |
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Verified ID
Number |
Yes |
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Current Age |
46 |
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Designation |
Businessman |
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Status |
Active |
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Appointment Date |
2007-10-04 |
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Address (at time
of Appointment) |
46 Gen Jaap Van Deventer Street WELGELEGEN 7500 |
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
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
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DAVHIL
ENGINEERING CC |
1992/031126/23 |
Deregistration
Process |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
13 years |
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
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RAISED IMAGE
REPROHOUSE (PTY) LTD |
1997/001500/07 |
In Business |
0 |
No |
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FUTURE FLEX (PTY)
LTD |
1999/000671/07 |
Deregistration
process |
1 |
No |
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ASE SHAIK
INVESTMENTS (PTY) LTD |
1999/010895/07 |
Deregistration
Final |
0 |
No |
Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
|
Title Deed No. |
None on record |
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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Principal 3 of 4
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Surname |
PROPHET |
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First Names |
PAUL |
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Marital Status |
|
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ID Number |
5803075195182 |
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Verified ID
Number |
Yes |
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Current Age |
53 |
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Designation |
Businessman |
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Status |
Active |
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Appointment Date |
2007-10-04 |
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Address (at time
of Appointment) |
159 Ranger Road FISH HOEK 7975 |
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 |
|
BEAUTIFUL
MAYFAIR PROPERTY CC |
1988/035650/23 |
Deregistration
Process |
0 |
No |
|
DE WILD
COMBIPACK CC |
1995/039981/23 |
Deregistration
Process |
0 |
No |
|
TACHINGA TRADING
(PTY) LTD |
2004/022181/07 |
Deregistration
Process |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
8 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
ASE SHAIK INVESTMENTS
(PTY) LTD |
1999/010895/07 |
Deregistration
Final |
0 |
No |
|
CAPE PROMOTIONAL
MARKETING (PTY) LTD |
2007/006290/07 |
Deregistration
Final |
0 |
No |
Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
|
Title Deed No. |
None on Record |
Erf/Site No. |
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Deeds Office |
|
Physical Address |
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Property Type |
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Extent / Size |
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Purchase Date |
|
Purchase price |
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% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Principal 4 of 4
|
Surname |
DICKSON |
|
First Names |
WAYNE |
|
ID Number |
7305265079083 |
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Verified ID
Number |
Yes |
|
Current Age |
38 |
|
Designation |
Businessman |
|
Status |
Active |
|
Appointment Date |
2007-10-04 |
|
Address (at time
of Appointment) |
37 Donnington Close PARKLANDS 7441 |
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 |
|
TACHINGA TRADING
(PTY) LTD |
2004/022181/07 |
Deregistration
Process |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
8 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
ASE SHAIK
INVESTMENTS (PTY) LTD |
1999/010895/07 |
Deregistration
Final |
0 |
No |
|
CAPE PROMOTIONAL
MARKETING (PTY) LTD |
2007/006290/07 |
Deregistration
Final |
0 |
No |
|
BOTTOM SEAL BAGS
CC |
2000/019657/23 |
Deregistration
Final |
0 |
No |
|
MIXSHELF 1120 CC |
2000/044298/23 |
In Business |
0 |
No |
Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
|
Title Deed No. |
T106435/2004 |
Erf/Site No. |
|
|
Deeds Office |
CAPE TOWN |
Physical Address |
37DONNINGTON PARKLANDS BLOUBERG |
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Property Type |
Freehold/ Ervin |
Extent / Size |
772.0SQM |
|
Purchase Date |
2004-09-07 |
Purchase price |
R559000 |
|
% Ownership |
0.0000 |
Bond Holder |
FIRSTRAND BANK LTD |
|
Bond Number |
B887412004 |
Bond Amount |
R559000 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.10 |
|
UK Pound |
1 |
Rs.74.64 |
|
Euro |
1 |
Rs.64.42 |
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.