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MIRA INFORM REPORT
|
Report Date : |
22.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
ROLFES COLOUR PIGMENTS INTERNATIONAL (PTY)
LTD |
|
|
|
|
Formerly Known As : |
BASFOUR 716 (PTY) LTD |
|
|
|
|
Registered Office : |
12 Jet Park Road, Jetpark, Boksburg, Gauteng |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
22.02.1999 |
|
|
|
|
Com. Reg. No.: |
1999/003720/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
The manufacturing and distribution of organic pigments, in organic
pigments, pigment pastes, dispersions and resins |
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 : |
No Complaints |
|
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 a well established and well connected company.
The subject is meeting its commitments timeously with local suppliers.
A bank code C was obtained for a figure of R1 500 000.
It would be advised that your figure be spread.
Company Information
|
Registered
Name |
ROLFES COLOUR PIGMENTS INTERNATIONAL (PTY) LTD |
|
Previous Name |
BASFOUR 716 (PTY) LTD |
|
Date of Name
Change |
The name having been changed on 22 February 1999. |
|
Registration
Number |
1999/003720/07 |
|
Registration
Date |
22 February 1999 |
|
Date Commenced
Trading |
30 September 1999 |
|
History of
Business |
The subject was a shelf company, which commenced active operations
when it incorporated the trading operations and assets of ROLFES LTD –
registration certificate number:
1925/008416/06 - in September
1999. |
|
Shareholders of
subject and % holding |
100% ROLFES TECHNOLOGY LTD –
registration certificate number:
2000/002715/06 - listed on the JSE Ltd. |
|
Authorised Share
Capital |
R1 000 divided into 1 000 ordinary R1 shares. |
|
Issued Share
Capital |
R1 000 |
|
Age of Company |
12 years 7 months |
|
Status |
Active |
|
Operations
Assessment |
The
manufacturing and distribution of organic pigments, in organic pigments, pigment
pastes, dispersions and resins. |
|
Industry/
Customers |
Coatings, plastics, construction, leather,
vinyl and ink markets |
|
Area of
Distribution |
South Africa |
|
Export |
Neighbouring countries, Europe and on a
small scale to India and Mauritius. |
|
Major Industry
Code / SICC |
33410 MANUFACTURING |
|
Definition of
Code |
Manufacture of basic chemicals, except
fertilizers & nitrogen compounds |
|
Head Office
Physical Address |
12 Jet Park Road JETPARK Boksburg Gauteng |
|
Head Office
Postal Address |
P O Box 8112 ELANDSFONTEIN 1469 |
|
Current Tel
Number |
011 874 0634 |
|
Current Fax
Number |
011 874 0784 |
|
Current Email
Address |
|
|
Web Site Address |
Auditors Information
|
Company
Registered Name |
BDO SOUTH AFRICA INC |
|
Previous Name |
BDO SPENCER STEWARD (JHB) INC |
|
Registration
Number |
1995/002310/21 |
|
Physical Address |
13 Wellington Raod PARKTOWN Johannesburg Gauteng |
|
Postal Address |
Private Bag X60500 HOUGTON 2041 |
|
Contact Person |
JapieSchoeman |
|
Contact Number |
011 488 1700 |
|
Email |
|
|
Principals |
43 |
|
Judgements Against
Subject |
No information on record |
|
Judgements
Against Principals |
No information on record |
|
Subject Verified
as Client |
Yes |
|
Practice number |
905526E |
|
VAT Number |
4910148685 |
|
Tax Number |
904048884 |
|
Financial Year
End |
December |
|
Years With
Auditors |
1 year |
|
Website |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
DU TOIT GREEF AND DU PLOOY INC |
Unknown by the respondent |
|
DM FORBES AND COMPANY |
7 months |
Tax Information
|
Vat Number |
4430179921 |
|
Status |
Active |
|
Vat Liable Date |
September 1999 |
|
Tax Number |
9079050838 |
|
Tax Clearance
Expire Date |
April 2011 It was stated that the subject is in the process of applying for a
renewal. |
|
Financial Year
End |
June |
Black Economic
Empowerment
|
Status |
Yes |
|
Score |
Level 5 |
|
Expire Date |
2010 The subject is in the process of applying for a renewal. |
|
BEE Certificate
Available |
Yes |
ISO Status
|
Type of ISO
Grade |
ISO 9001:2008 |
|
ISO Certificate |
Yes |
|
ISO Certificate
Available |
No |
|
Certified by
anAccredited Agent |
Yes |
Workman’s
compensation
|
Registered |
Yes |
|
Compliance Certified
|
Yes |
Company Structure
|
Branches |
The subject has
pigments and dispersion manufacturing plants in Jet Park (Gauteng) and Cape
Town as well as a Resins plant in Alberton (Gauteng). The respondent stated
that they are busing setting up warehousing facilities in Durban, which
should be finalized by November 2011. |
|
Subsidiary
Company |
None |
|
Shareholding |
|
|
Registration
Number |
|
|
Import / Export |
|
|
Number of
Employees |
155 total |
|
1.
Salaried
employees |
ü |
|
2.
Permanent
employees |
ü |
|
3.
Casual
employees |
The subject
employs casual workers when required. |
Company Fleet |
No of vehicles: |
Owned/ Leased |
|
Fleet Operations |
|
|
|
The Fleet is
made up of |
|
|
|
1.
Light
Delivery Vehicles |
5 |
Owned by the
subject |
|
2.
Trucks |
4 |
Owned by the
subject |
It was stated that
the total book value of the vehicles is in the region of R700 000. The respondent stated that the subject has vehicle
finance facilities with Nedbank to an extent of R300 000 on three of the
light delivery vehicles.
Head OfficeOwned |
The head office premises in Jet Park are owned by ROLFES ASSET
HOLDINGS (PTY) LTD |
|
Value |
R22 500 000 |
|
Bank |
There is a notorial bond registered over the head office premises in
favour of SASOL SOLVENTS. |
|
Bond |
R2 500 000 outstanding |
|
Type of Premises |
The premises comprise of manufacturing, warehousing and administration
office facilities. |
Branches Rented |
The Alberton branch premises are leased |
|
Rental Company |
PLASCON PROPERTIES (PTY) LTD |
|
Lease Agreement |
10 year lease agreement |
|
Lease Expire
Date |
2014 |
|
Type of Premises |
The premises comprise of manufacturing, warehousing and administration
office. |
Branches Rented |
The Cape Town branch premises are leased |
|
Rental Company |
JAN HEMMIES FAMILY TRUST |
|
Lease Agreement |
5 year lease agreement |
|
Lease Expire
Date |
2013 |
|
Type of Premises |
The premises comprise of manufacturing, warehousing and administration
office facilities. |
Trade References
The subject imports
from India and China
|
Supplier |
Contact |
|
1)
BAYER
LAXESS |
011 457
4000 |
|
2)
SASOL
POLYMERS |
011 889
9036 |
|
3)
NCP
CHLOOR CHEM |
011 921
3111 |
|
4)
SUPPLY
RITE |
011 867
5984 |
|
5)
KARBO
CHEM |
016 970
1500 |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1) Old |
Do |
Not |
Give |
Trade |
References |
Good account |
|
2) Do |
Not |
Give |
Trade |
References |
|
|
|
3) 2 years+ |
None |
R80 000 |
30 days |
R80 000 |
30 days |
Good |
|
4) 2010 |
R1 000 000 |
R200 000 |
30 days |
R110 000 |
30 days |
Very Good |
Adverse
Information on Subject
|
Judgements |
No information on record |
|
Possible
Judgements |
|
|
Civil Court |
|
|
RDs |
|
Default Data
|
Date |
Details |
|
No information on record |
|
Notarial Bonds
|
Date |
Details |
|
No information on record |
|
Deeds Information
|
Property Interest |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property Type: |
No information on record |
Stand Number: |
|
|
Street Number: |
|
Street Name: |
|
|
Municipal Suburb: |
|
Municipal City: |
|
|
Township Name: |
|
Province: |
|
|
Deeds Office: |
|
Transfer ID: |
|
|
Title Deed Number: |
|
Purchase Date: |
|
|
Transfer Date: |
|
Erf Size: |
|
|
Sold Price: |
|
|
|
Bank Information
|
Bank |
NEDBANK |
|
Branch |
East Rand Business |
|
Bank Account
Number |
1904151213 |
|
Type of Account |
Current |
|
Branch Code |
190442 |
|
Account Name |
ROLFES COLOUR PIGMENTS INTERNATIONAL (PTY) LTD |
|
Overdraft
Facilities |
It was stated that the subject is managed by a cash management scheme
controlled by the holding company. |
|
Date Opened |
10-03-1999 |
|
Bank Code |
C |
|
Bank Comment |
The subjects bankers consider the subject equal to its normal business
engagements. |
Bank CodesHistory
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
|
No information on record |
|
|
|
|
|
|
Previous Bank
Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
No information on record |
|
|
|
|
|
Financial Information
Financial
Estimates
|
CURRENT ASSETS |
|
|
Stock |
R64 000 000 |
|
Debtors |
R45 000 000 |
|
Cash on Hand |
R 2 400 000 in
overdraft |
|
FIXED ASSETS |
|
|
Plant,
Equipment, Vehicles |
R 6 900 000 |
|
Property |
Nil |
|
CURRENT
LIABILITIES |
|
|
Creditors |
R35 000 000 |
|
Intercompany
Loans |
R 3 000 000 |
|
LONG TERM
LIABILITIES |
|
|
Morgage Bonds |
Nil |
|
ANNUAL Turnover
(2011) |
R286 000 000 |
|
Previous Year
Turnover (2010) |
R230 000 000 |
|
Estimated Annual
Turnover (2012) |
R330 000 000 |
Principals
|
Number of
Principals |
6 |
|
Average Age of
Active Principals |
43 |
Active Principals
Principal 1 of 6
|
Surname |
SCHLEBUSCH |
|
First Names |
JOHAN, C |
|
Marital Status |
Married |
|
ID Number |
8109215104085 |
|
Verified ID
Number |
Yes |
|
Current Age |
30 |
|
Designation |
Company Secretary |
|
Status |
Active |
|
Appointment Date |
2011-03-31 |
|
Address (at time
of Appointment) |
12 Jetpark Road JETPARK Boksburg 1459 |
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 |
|
ROLFES SILICA
(PTY) LTD |
1977/002739/07 |
In business |
0 |
No |
|
ROLFES LOGISTICS
(PTY) LTD |
1998/007811/07 |
In business |
0 |
No |
|
ROLFES ASSET
HOLDINGS (PTY) LTD |
2000/002487/07 |
In business |
0 |
No |
|
ROLFES
TECHNOLOGY HOLDINGS LTD |
2000/002715/06 |
In business |
0 |
No |
|
NEW HEIGHTS 390
(PTY) LTD |
2000/023987/07 |
In business |
0 |
No |
|
ROLFES EUROPE
TRADING (PTY) LTD |
2001/029919/07 |
In business |
0 |
No |
|
SCH INVESTMENTS
CC |
2002/105002/23 |
In business |
0 |
No |
|
ROLFES CHEMICALS
(PTY) LTD |
2004/007903/07 |
In business |
0 |
No |
Previous Business
Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
No information on record |
|
|
|
|
Deeds Information
Property Interests of
Principle
|
Property Interest |
|||
|
Title Deed No. |
ST53875/2010 |
Erf/Site No. |
585 |
|
Deeds Office |
PRETORIA |
Physical Address |
100 Mopanie Hennopspark CENTURION |
|
Property Type |
Sectional title / Unit |
Extent / Size |
118.0sqm |
|
Purchase Date |
2010-04-21 |
Purchase price |
R730,000.00 |
|
% Ownership |
|
Bond Holder |
ABSA BANK LTD |
|
Bond Number |
SB331262010 |
Bond Amount |
R657,000.00 |
Principal 2 of 6
|
Surname |
LYNCH |
|
First Names |
LIZETTE |
|
Marital Status |
Unmarried |
|
ID Number |
6603030029081 |
|
Verified ID
Number |
Yes |
|
Current Age |
45 |
|
Designation |
Business woman / director |
|
Status |
Active |
|
Appointment Date |
2008-06-25 |
|
Address (at time
of Appointment) |
13 The Melrose Mkernick Avenue MELROSE NORTH 2196 |
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 |
|
ROLFES SILICA
(PTY) LTD |
1977/002739/07 |
In business |
0 |
No |
|
ROLFES LOGISTICS
(PTY) LTD |
1998/007811/07 |
In business |
0 |
No |
|
ROLFES ASSET
HOLDING (PTY) LTD |
2000/002487/07 |
In business |
0 |
No |
|
NEW HEIGHTS 390
(PTY) LTD |
2000/023987/07 |
In business |
0 |
No |
|
ROLFES EUROPE
TRADING (PTY) LTD |
2001/029919/07 |
In business |
0 |
No |
|
ROLFES CHEMICALS
(PTY) LTD |
2004/007903/07 |
In business |
0 |
No |
|
AYMAN PROPERTY
INVESTMENT CC |
2005/037436/23 |
In business |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
14 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
DAWN CARGO (PTY)
LTD |
1993/007905/07 |
In business |
0 |
No |
|
B J T
DEVELOPMENT CC |
1997/024436/23 |
In business |
0 |
No |
|
ROLFES
TECHNOLOGY HOLDINGS LTD |
2000/002715/06 |
In business |
0 |
No |
Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
|
Title Deed No. |
No information 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 6
|
Surname |
SHOME |
|
First Names |
DEBAJIT |
|
Marital Status |
Married |
|
Passport Number |
F1415582 |
|
Country of
Residence |
India |
|
Verified ID
Number |
No |
|
Current Age |
40 |
|
Designation |
Businessman / director |
|
Status |
Active |
|
Appointment Date |
2007-05-18 |
|
Address (at time of
Appointment) |
1 Bruma Firs 6 Hanspirow Road BRUMA 2021 |
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 |
|
No additional business interests |
|
|
|
|
Previous Business
Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
No information on record |
|
|
|
|
Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
|
Title Deed No. |
No information 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 4 of 6
|
Surname |
VAN DER MERWE |
|
First Names |
ERHARD |
|
Marital Status |
Married |
|
ID Number |
6207305024080 |
|
Verified ID
Number |
Yes |
|
Current Age |
49 |
|
Designation |
Businessman / director |
|
Status |
Active |
|
Appointment Date |
2007-02-01 |
|
Address (at time
of Appointment) |
13B Victoria Road OAKLANDS 2192 |
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 |
|
None |
|
|
|
|
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. |
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 5 of 6
|
Surname |
THOMAS |
|
First Names |
ROBERT |
|
Marital Status |
Married |
|
ID Number |
6304215192089 |
|
Verified ID
Number |
Yes |
|
Current Age |
48 |
|
Designation |
Businessman |
|
Status |
Active |
|
Appointment Date |
2004-02-02 |
|
Address (at time
of Appointment) |
27 Ferero Road EDENGLEN 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 |
|
ST ANDREW’S SCHOOL FOR GIRLS |
1923/007507/08 |
In Business |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
11 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
ROLFES
TECHNOLOGY HOLDINGS LTD |
2000/002715/06 |
In business |
0 |
No |
Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
|
Title Deed No. |
T84783/2002 |
Erf/Site No. |
|
|
Deeds Office |
JOHANNESBURG |
Physical Address |
27 FERERO EDEN GLEN EDENVALE |
|
Property Type |
Freehold/Ervin |
Extent / Size |
1135.0SQM |
|
Purchase Date |
2002-09-26 |
Purchase price |
R930000 |
|
% Ownership |
0.0000 |
Bond Holder |
STANDARD BANK |
|
Bond Number |
B540702002 |
Bond Amount |
R700000 |
Principal 6 of 6
|
Surname |
BADENHORST |
|
First Names |
WOUTER ADRIAAN |
|
Marital Status |
Married |
|
ID Number |
6312235105080 |
|
Verified ID
Number |
Yes |
|
Current Age |
48 |
|
Designation |
Businessman |
|
Status |
Active |
|
Appointment Date |
1999-04-04 |
|
Address (at time
of Appointment) |
Plot 76 Mooiplaats SWAWELPOORT Pretoria East 0001 |
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 |
|
COSEC CONCEPTS
CC |
1991/023169/23 |
Deregistration
Process |
0 |
No |
|
ROLFES ASSET
HOLDING (PTY) LTD |
2000/002487/07 |
In Business |
0 |
No |
|
ETERNITY STAR INVESTMENTS
60 CC |
2002/039772/23 |
In Business |
0 |
No |
|
W A BADENHORST |
6312235105007 |
|
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
10 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
ROLFES LOGISTICS
(PTY) LTD |
1998/007811/07 |
In Business |
0 |
No |
|
ROLFES CHEMICALS
(PTY) LTD |
2004/007903/07 |
In Business |
0 |
No |
Deeds Information
Property
Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
T67951/2002 |
Erf/Site No. |
|
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
19 SHAD SHOAL MEER EN SEE RICHARDS BAY |
|
Property Type |
Freehold/ Ervin |
Extent / Size |
1095.0SQM |
|
Purchase Date |
2002-10-18 |
Purchase price |
R650000 |
|
% Ownership |
0.0000 |
Bond Holder |
NEDCOR BANK |
|
Bond Number |
B404592002 |
Bond Amount |
R650000 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.89 |
|
UK Pound |
1 |
Rs.75.31 |
|
Euro |
1 |
Rs.65.64 |
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.