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MIRA INFORM REPORT
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Report Date : |
15.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
PACIFIC PAPER TECHNOLOGIES (PTY) LTD |
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|
|
|
Registered Office : |
1st Floor Viewpoint House, Cnr Main Street And Orchard
Avenue, Bordeaux, Randburg |
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|
Country : |
South Africa |
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Date of Incorporation : |
05.06.1995 |
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Com. Reg. No.: |
1995/005034/07 |
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|
|
Legal Form : |
Private Company |
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|
|
Line of Business : |
Paper Traders |
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 : |
Unknown |
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|
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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 an established company that only purchases on credit from one
main supplier.
There are no adverse comments on the subject of principals.
We have no payment pattern to compare to a maximum.
A bank code C was obtained for an amount of R50 000 over 30 days.
Company Information
|
Registered
Name |
PACIFIC PAPER TECHNOLOGIES (PTY) LTD |
|
Trading
as/ Division Name |
None |
|
Previous Name |
None |
|
Date of Name
Change |
N/A |
|
Registration
Number |
1995/005034/07 |
|
Registration
Date |
1995-06-05 |
|
Date Commenced
Trading |
Late 1995 |
|
History of Business |
The subject commenced as a new business |
|
Shareholders of
subject and % holding |
90% D S VARYANI 10% V KUMAR |
|
Issued Share
Capital |
R100 |
|
Age of Company |
16 years 3 months |
|
Status |
In Business |
|
Operations
Assessment |
Paper traders |
|
Industry/
Customers |
Printers and wholesalers |
|
Export |
95% into Africa |
|
Major Industry
Code / SICC |
61109 Wholesale Retail |
|
Definition of
Code |
Wholesale trade on a fee or contract
basis. |
|
Head Office
Physical Address |
1st Floor Viewpoint House Cnr Main Street and Orchard Avenue BORDEAUX Randburg The old address is: Unit2 356 Aberdare Drive PHOENIX INDUSTRIAL PARK Phoenix 4068 |
|
Head Office
Postal Address |
P O Box 2138 RANDBURG 2125 |
|
Current Tel
Number Cell number |
011 7811234 083 7756443 |
|
Current Fax
Number |
011 7879599 |
|
Current Email
Address |
vinay@pacificpaper.net |
|
Web Site Address |
www.pacificpaper.co.za |
Auditors Information
|
Company
Registered Name |
J H SMILG AND
COMPANY |
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Registration
Number |
1965/007520/07 |
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Physical Address |
7th Floor JHS Executive Centre 112 Kerk Street JOHANNESBURG 2000 |
|
Postal Address |
P O Box 9460 JOHANNESBURG 2000 |
|
Contact Person |
MERVYN CARROL |
|
Contact Number |
011 3374030 |
|
Email |
|
|
Principals |
M CARROL F SHARIEF S BURGER |
|
Judgements
Against Subject |
None |
|
Judgements
Against Principals |
None |
|
Subject Verified
as Client |
Yes |
|
SAICA number |
905895E |
|
Tax Number |
9300600849 |
|
BEE Status |
|
|
Financial Year
End |
February |
|
Years With
Auditors |
8- 10 years |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
PRICEWATERHOUSE COOPERS |
Unknown |
Tax Information
|
Vat Number |
4270151550 |
|
Status |
Active |
|
Vat Liable Date |
Monthly |
|
Tax Number |
9197459200 |
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Tax Clearance
Expire Date |
December |
|
Financial Year End |
December |
Black Economic
Empowerment
|
Status |
None |
|
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 |
None |
|
Compliance
Certified |
Yes/No |
Company Structure
|
Branches |
None |
|
Branches Names |
Country |
Province |
|
None |
|
|
|
Subsidiary
Company |
None |
|
Shareholding |
|
|
Registration
Number |
|
|
Import / Export |
|
|
Number of
Employees |
10 |
|
1.
Salaried
employees |
10 |
|
2.
Waged
employees |
|
|
3.
Permanent
employees |
10 |
|
4.
Casual
employees |
|
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5.
Contracted
employees |
|
Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding
Balance |
|
Fleet Operations |
|
|
|
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The Fleet is
made up of |
6 |
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|
1.
Cars |
6 |
Owned |
R1 200 000 |
None |
|
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 |
UPEC |
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Owned by |
|
|
Value |
|
|
Bond |
|
|
Bank |
|
|
Lease Agreement |
Annual |
|
Lease Expire
Date |
October 2011 |
|
Type of Premises |
Offices |
Trade References
|
Supplier |
Contact |
|
MONDI PAPER |
031 4512108 |
The subject obtains the majority of paper from MONDI and deals with smaller suppliers on a COD basis. It is MONDI’s company policy to NOT give trade references.
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
DO |
NOT |
GIVE |
TRADE |
REFERENCES |
|
|
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 |
|||
|
Title Deed No. |
T26266/2005 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
JUSKEI PARK RANDBURG |
|
Property Type |
Freehold/ Ervin |
Extent / Size |
466.0SQM |
|
Purchase Date |
2004-12-04 |
Purchase price |
R850000 |
|
% Ownership |
0.0000 |
Bond Holder |
NEDBANK LTD |
|
Bond Number |
B292102005 |
Bond Amount |
R800000 |
|
Property Interest |
|||
|
Title Deed No. |
T61265/2005 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
15 DRAKELAND WITKOPPEN SANDTON |
|
Property Type |
Freehold/ Ervin |
Extent / Size |
873.0SQM |
|
Purchase Date |
2005-03-01 |
Purchase price |
R950000 |
|
% Ownership |
0.0000 |
Bond Holder |
NEDBANK LTD |
|
Bond Number |
B899682005 |
Bond Amount |
R350000 |
Bank Information
|
Bank |
Nedbank |
|
Branch |
Argyle Road, Durban |
|
Bank Account
Number |
1355127130 |
|
Type of Account |
Current |
|
Branch Code |
135526 |
|
Account Name |
PACIFIC PAPER TECHNOLOGIES (PTY) LTD |
|
Overdraft
Facilities |
None |
|
Date Opened |
03-03-1996 |
|
Bank Code |
C |
|
Bank Comment |
The subjects bankers consider them as equal to their normal business
engagements. |
Bank CodesHistory
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
|
None |
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|
|
|
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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 |
None |
|
Debtors |
|
|
Cash on Hand |
|
|
FIXED ASSETS |
|
|
Plant,
Equipment, Vehicles |
R1 200 000 (Vehicles) |
|
Property |
|
|
CURRENT
LIABILITIES |
|
|
Creditors |
|
|
Loans/ From? |
None |
|
LONG TERM
LIABILITIES |
None |
|
Morgage Bonds |
None |
|
MONTHLY Turnover |
US$2 200 000 |
|
Previous Year
Turnover |
US$24 000 000 |
|
Estimated
Current Year Turnover |
US$26 000 000 |
Principals
|
Number of
Principals |
3 |
|
Average Age of
Active Principals |
43 |
Active Principals
Principal 1 of 3
|
Surname |
KUMAR |
|
First Names |
VINAYA |
|
ID Number |
6812145974186 |
|
Verified ID
Number |
Yes |
|
Current Age |
43 |
|
Designation |
Company Executive |
|
Status |
Active |
|
Appointment Date |
Not on Record |
|
Address (at time of Appointment) |
14 Elm Street Unit 15 Craigavon Gardens CRAIGAVON 2021 |
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 |
|
THUTO
MANUFACTURING (PTY) LTD |
2004/007329/07 |
In Business |
0 |
No |
|
CENTRICA TRADING
(PTY) LTD |
2007/025845/07 |
In Business |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
3 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
KFT INVESTMENTS
(PTY) LTD |
2008/011429/07 |
In Business |
0 |
No |
Deeds Information
Property Interests of
Principle
|
Property Interest |
|||
|
Title Deed No. |
None on Record |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Principal 2 of 3
|
Surname |
VARYANI |
|
First Names |
PRADEEPKUMAR SITALDAS |
|
Birth Date |
580307 |
|
Verified ID
Number |
No |
|
Current Age |
53 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
Not on Record |
|
Address (at time of
Appointment) |
71 Montpelier Place MORNINGSIDE Durban 4001 |
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 |
|
None |
|
|
|
|
Previous Business
Interests
|
Average Age of
Previous Business Interests |
None on Record |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
|
Title Deed No. |
None on Record |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Principal 3 of 3
|
Surname |
VARYANI |
|
First Names |
DEVKISHIN SITALDAS |
|
Birth Date |
590409 |
|
Verified ID
Number |
No |
|
Current Age |
52 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
Not on Record |
|
Address (at time
of Appointment) |
71 Montpelier Place MORNINGSIDE Durban 4001 |
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 |
|
None |
|
|
|
|
Previous Business
Interests
|
Average Age of
Previous Business Interests |
None on Record |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
|
Title Deed No. |
None 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.47.81 |
|
UK Pound |
1 |
Rs.75.16 |
|
Euro |
1 |
Rs.65.11 |
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.