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MIRA INFORM REPORT
|
Report Date : |
20.09.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
AFRIPACK CONSUMER FLEXIBLES (PTY) LTD |
|
|
|
|
Registered Office : |
75 Richards Carte Road, Mobeni, Durban |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
08.07.2008 |
|
|
|
|
Com. Reg. No.: |
2008/016495/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacture of flexible packaging |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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) |
|
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 well established company that forms part of a large group.
We are still awaiting some information from the financial manager via
email and should we receive any further details they will be incorporated into
the report.
We cannot speak to your figure without a Bank code or Trade references,
It would be suggested that dealings be secured.
Company Information
|
Registered
Name |
AFRIPACK CONSUMER FLEXIBLES (PTY) LTD |
|
Trading
as/ Division Name |
-AFRIPACK CONSUMER FLEXIBLES CAPE -AFRIPACK CONSUMER FLEXIBLES KZN -REPRO -DLC |
|
Previous Name |
None |
|
Date of Name
Change |
N/A |
|
Registration
Number |
2008/016495/07 |
|
Registration
Date |
2008-07-08 |
|
Date Commenced
Trading |
2008 |
|
History of
Business |
The subject was formed from assets that were formerly in company in
the Astrapak Group. |
|
Shareholders of
subject and % holding |
80% AFRIPACK (PTY) LTD 20% GREENASH INVESTMENTS (PTY) LTD |
|
Authorised Share
Capital |
R1000 |
|
Issued Share
Capital |
R1 |
|
Age of Company |
3 years 2 months |
|
Status |
In Business |
|
Operations
Assessment |
Manufacture of flexible packaging |
|
Industry/
Customers |
Various |
|
Export |
Neighbouring countries |
|
Major Industry
Code / SICC |
88950 Financial Business |
|
Definition of
Code |
Packaging activities |
|
Head Office
Physical Address |
75 Richards Carte Road MOBENI Durban |
|
Head Office
Postal Address |
P O Box 12242 JACOBS 4026 The P O Box number of 286 PAARL 7620 belongs to the Cape Town Branch- 021
8601700 |
|
Current Tel
Number |
031 4521300 |
|
Current Fax
Number |
031 4629240 |
|
Current Email
Address |
|
|
Web Site Address |
Auditors Information
|
Company
Registered Name |
DELOITTES AND TOUCHE Registered Auditors |
|
Physical Address |
Deloitte Place 2 Pencarrow Crescent Pencarrow Office Park La Lucia Ridge Office Estate LA LUCIA 4051 |
|
Postal Address |
PO Box 243 DURBAN 4000 |
|
Contact Person |
ERIN SAMSON |
|
Contact Number |
084 9101408/ 031 5607000 |
|
Subject Verified
as Client |
Yes |
|
SAICA number |
IRBA 902276 |
|
BEE Status |
Level 2 |
|
Financial Year
End |
February |
|
Years With
Auditors |
Many years |
|
Website |
www.deloitte.com |
|
DeloittesBoard Members |
Portfolio |
|
FuthiMtoba |
Chairman - Gauteng (Johannesburg) |
|
Mike Comber |
Deputy Chairman and Reputation & Risk
leader |
|
Grant Gelink |
Chief Executive |
|
Allen Swiegers |
Chief Operating Office |
|
Chris Beukman |
Chief Financial Officer/Secretary (by
invitation) |
|
Guy Brazier |
KwaZulu-Natal |
|
DanieCrowther |
Gauteng (Pretoria) |
|
SandileGwala |
Transformation |
|
Tawanda Gumbo |
Zimbabwe/Malawi/Botswana/Namibia |
|
Roland (Roly) Johnston
Hofmeyr |
Western Cape/Eastern Cape |
|
Justine Mazzocco |
Risk Advisory |
|
Thiru Pillay |
Consulting |
|
Louise Vosloo |
Tax |
|
Tony Zoghby |
Audit |
|
Nthobi Angel |
External advisor to the Board |
|
Lot Ndlovu |
External advisor to the Board |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
EQUFIN INCORPORATED |
Unknown |
Tax
Information
|
Vat Number |
4700253281 |
|
Status |
Active |
|
Vat Liable Date |
Monthly |
|
Tax Number |
9606069160 |
|
Tax Clearance
Expire Date |
February |
|
Financial Year
End |
September |
Black Economic
Empowerment
|
Status |
Unknown, AFRIPACK (PTY) LTD Yes |
|
Score |
Level 3 |
|
Expire Date |
2010-07-20 |
|
BEE Certificate
Available |
Yes |
ISO Status
|
Type of ISO
Grade |
Yes |
|
ISO Certificate |
|
|
ISO Certificate
Available |
|
|
Certified by
anAccredited Agent |
|
Workman’s
compensation
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
Company Structure
|
Branches |
Cape Town and a
few in Durban |
|
Subsidiary
Company |
STANDARD LABELS
(MAURITIUS) |
|
Shareholding |
100% AFRIPACK CONSUMER FLEXIBLES (PTY) LTD |
|
Number of
Employees |
550 |
|
1.
Salaried
employees |
500 |
|
2.
Waged
employees |
50 |
|
3.
Permanent
employees |
550 |
|
4.
Casual
employees |
|
|
5.
Contracted
employees |
On ocassion |
Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding
Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is
made up of |
9 |
|
|
|
|
1.
Cars
Light Delivery Vehicles |
9 |
Owned |
R950 000 |
Nothing |
Head
OfficeOwned/ Rented |
Owned |
|
Owned by |
AFRIPACK (PTY) LTD |
Branches Owned/
Rented |
Mostly rented, Cape Town owned by AFRIPACK CONSUMER FLEXIBLES (PTY)
LTD |
Trade References
|
Supplier |
Contact |
|
Awaiting Trade
References |
|
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
Awaiting |
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. |
T8350/2010 |
Erf/Site No. |
|
|
Deeds Office |
CAPE TOWN |
Physical Address |
|
|
Property Type |
Freehold/ Ervin |
Extent / Size |
5383.0SQM |
|
Purchase Date |
2009-04-06 |
Purchase price |
R8500000 |
|
% Ownership |
0.0000 |
Bond Holder |
NEDBANK LTD |
|
Bond Number |
B51602010 |
Bond Amount |
R5000000 |
|
Property Interest |
|||
|
Title Deed No. |
T52012/2009 |
Erf/Site No. |
|
|
Deeds Office |
CAPE TOWN |
Physical Address |
|
|
Property Type |
Freehold/Ervin |
Extent / Size |
6142.0SQM |
|
Purchase Date |
2009-04-06 |
Purchase price |
R6500000 |
|
% Ownership |
0.0000 |
Bond Holder |
NEDBANK LTD |
|
Bond Number |
B281432009 |
Bond Amount |
R4000000 |
Bank Information
|
Bank |
NEDBANK |
|
Branch |
DURBAN BUSINESS BRANCH |
|
Bank Account Number |
Awaiting Banking Information |
|
Type of Account |
|
|
Branch Code |
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|
Account Name |
|
|
Overdraft
Facilities |
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|
Date Opened |
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|
Bank Code |
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|
Bank Comment |
|
Bank CodesHistory
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
|
None |
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|
|
|
|
|
Previous Bank
Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
None |
|
|
|
|
|
Financial Information
Financial Estimates
|
CURRENT ASSETS |
Declined |
|
Stock |
|
|
Debtors |
|
|
Cash on Hand |
|
|
FIXED ASSETS |
|
|
Plant,
Equipment, Vehicles |
|
|
Property |
|
|
CURRENT
LIABILITIES |
|
|
Creditors |
|
|
Loans/ From? |
|
|
LONG TERM
LIABILITIES |
|
|
Morgage Bonds |
|
|
ANNUAL / MONTHLY
Turnover |
|
|
Previous Year
Turnover |
|
|
Estimated
Current Year Turnover |
|
Principals
|
Number of
Principals |
4 |
|
Average Age of
Active Principals |
46 |
Active Principals
Principal 1 of 4
|
Surname |
RAMMOPO |
|
First Names |
PANIC RAMPA |
|
Marital Status |
Married |
|
ID Number |
6801245799708 |
|
Verified ID
Number |
Yes |
|
Current Age |
43 |
|
Designation |
Businessman |
|
Status |
Active |
|
Appointment Date |
2009-07-01 |
|
Address (at time of
Appointment) |
223 Gosforth Crescent KYALAMI 1684 |
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
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
Deeds Information
Property Interests of
Principle
|
Property Interest |
|||
|
Title Deed No. |
None |
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 4
|
Surname |
VERMAAK |
|
First Names |
ARNOLD |
|
Marital Status |
Married |
|
ID Number |
5910085007081 |
|
Verified ID
Number |
Yes |
|
Current Age |
52 |
|
Designation |
Businessman |
|
Status |
Active |
|
Appointment Date |
2009-07-01 |
|
Address (at time of
Appointment) |
7 Fern Road Umhlanga Crescent UMHLANGA ROCKS 4319 |
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 |
|
AFRIPACK (PTY)
LTD |
1933/004294/07 |
In Business |
0 |
No |
|
FLEXOSACK (PTY)
LTD |
1973/007027/07 |
In Business |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
|
Title Deed No. |
T58944/2006 |
Erf/Site No. |
|
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
19 MEADOW KLOOF KLOOF |
|
Property Type |
Freehold/ Ervin |
Extent / Size |
3718.0SQM |
|
Purchase Date |
2006-09-27 |
Purchase price |
R2800000 |
|
% Ownership |
0.0000 |
Bond Holder |
STANDARD BANK |
|
Bond Number |
B718142006 |
Bond Amount |
R2300000 |
Principal 3 of 4
|
Surname |
FLOYD |
|
First Names |
MARK |
|
Marital Status |
Married |
|
ID Number |
6105195139085 |
|
Verified ID
Number |
Yes |
|
Current Age |
50 |
|
Designation |
Businessman |
|
Status |
Active |
|
Appointment Date |
2009-07-01 |
|
Address (at time
of Appointment) |
12 Weavers Pond Drive The Beach Estate ZIMBALI |
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 |
|
STRATEGIC
TRANSFER SOLUTIONS (PTY) LTD |
2008/012031/07 |
In Business |
0 |
No |
|
UCINGO
ADMINISTRATION 321 (PTY) LTD |
2009/010610/07 |
In Business |
0 |
No |
Previous Business
Interests
|
Average Age of Previous
Business Interests |
8 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
WILLIS SOUTH AFRICA (PTY) LTD |
1997/020469/07 |
In Business |
0 |
No |
|
FONESURE ADMINISTRATION CC |
2008/25321/23 |
Deregistration
Final |
0 |
No |
Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
|
Title Deed No. |
T119916/2004 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
10 WILLOWWOOD BRYANSTON SANDTON |
|
Property Type |
Freehold/ Ervin |
Extent / Size |
543.0SQM |
|
Purchase Date |
2004-06-12 |
Purchase price |
R1300000 |
|
% Ownership |
0.0000 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
R0 |
Principal 4 of 4
|
Surname |
HYND |
|
First Names |
JAMES |
|
Marital Status |
Married |
|
ID Number |
7208055003083 |
|
Verified ID
Number |
Yes |
|
Current Age |
39 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2009-01-29 |
|
Address (at time of
Appointment) |
8 Bridelia Close Simbithi BALLITO 4399 |
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 |
|
AFRIPAK (PTY)
LTD |
1933/004294/07 |
In Business |
0 |
No |
|
FLEXOSACK (PTY)
LTD |
1973/007027/07 |
In Business |
0 |
No |
|
J AND J
ACCOUNTING SERVICES CC |
1997/001573/23 |
Deregistration
Process |
0 |
No |
|
ELDERBERRY INVESTMENTS
110 (PTY) LTD |
2007/015704/07 |
In Business |
0 |
No |
|
BLOCKBUSTER
TRADING 9 (PTY) LTD |
2007/019579/07 |
In Business |
0 |
No |
|
GREENASH TRADING
AND INVESTMENTS 21 (PTY) LTD |
2009/002351/07 |
In Business |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
24 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
KOHLER FLEXIBLE
PACKAGING (PINETOWN) (PTY) LTD |
1972/008770/07 |
Deregistration
Final |
0 |
No |
|
KOHLER DIGIFLEX
(PTY) LTD |
2001/007824/07 |
Deregistration
Final |
0 |
No |
Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
|
Title Deed No. |
T24735/2005 |
Erf/Site No. |
|
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
|
|
Property Type |
Freehold/ Ervin |
Extent / Size |
2186.0SQM |
|
Purchase Date |
2003-09-29 |
Purchase price |
R541800 |
|
% Ownership |
0.0000 |
Bond Holder |
NEDBANK LTD |
|
Bond Number |
B271952005 |
Bond Amount |
R1900000 |
|
Property Interest |
|||
|
Title Deed No. |
ST26392/2009 |
Erf/Site No. |
166.0 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
|
|
Property Type |
Sectional Title/ Unit |
Extent / Size |
142.0SQM |
|
Purchase Date |
2008-07-11 |
Purchase price |
R1290375 |
|
% Ownership |
0.0000 |
Bond Holder |
NEDBANK LTD |
|
Bond Number |
SB134732009 |
Bond Amount |
R1166500 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.79 |
|
UK Pound |
1 |
Rs.75.06 |
|
Euro |
1 |
Rs.65.35 |
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.