MIRA INFORM REPORT

 

 

Report Date :

18.08.2012

 

IDENTIFICATION DETAILS

 

Name :

VENK-PAC (PTY)LTD

 

 

Registered Office :

161 Stamford Hill Road, Durban, 4001

 

 

Country :

South Africa

 

 

Date of Incorporation :

28.05.1997

 

 

Com. Reg. No.:

M1997/008131/07

 

 

Legal Form :

Private Company

 

 

Line of Business :

Manufacturing of Plastic Blown Film and Flexible Packaging, Printing and Lamination.

 

 

No. of Employees :

Not Available

 

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

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

South Africa

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Summary

 

Subject Name

VENK-PAC

Country

South Africa

Requested Credit Limit

$ 15000000.00

Enquiry Terms

COD

Account Review

Every 3 Months

Subject Contact Person

RESHMA

Assessment

On investigation we made contact with RESHMA the Financial Manager for the subject who declined to assist with the information for the subject. This appears to be a well established business dating back to 1997. RESHMA requested a questionnaire to be sent to her for completion. We await further information for the subject. Please see the available information for the subject below.

 

Company information

 

Registered Name

VENK-PAC (PTY)LTD

Trading as/ Division Name

 

Previous Name

 

Date of Name Change

 

Registration Number

M1997/008131/07

Registration Date

1997/05/28

Date Commenced Trading

1997-05-28

Age of Business

15 Years 3 Months

History of Business

 

History of Principals

 

Shareholders/Members/Partners of subject and % holding

 

Authorised Share Capital

R 0.00

Issued Share Capital/Members Contribution

R 0.00

Status

In Business

Operations

Manufacturing of Plastic Blown Film and Flexible Packaging, Printing and Lamination.

Industry/ Customers

 

Export

 

Major Industry Code / SICC

9000

Definition of Code

 

Head Office Physical Address

161 STAMFORD HILL ROAD, DURBAN, 4001

Head Office Postal Address

PO BOX 19596, DORMERTON, 4015

Current Tel Number

0325330929

Cell Number

0837750540

Current Fax Number

0325334864

Current Email Address

support@venkpac.co.za

Web Site Address

www.venkpac.co.za

Comments

The subject's website is currently undergoing maintenance.

 

Auditors information

 

Company Registered Name

PIERIAN INC

Trading Name

PIERIAN

Registration Number

M2010/00380421

Physical Address

The Glass House Office Park, Building No. 3, 309 Umhlanga Rocks Drive, LA LUCIA RIDGE, 4319

Postal Address

PO BOX 1582, MOUNT EDGECOMBE, 4301

Subject Verified as Client

Yes

Practice Number

903634

VAT Number

4780255511

Tax Number

9778381153

BEE Status

 

Financial Year End

May

No of years in Business

2

Website

www.pieriansa.co.za

Comment

 

Previous Auditors

Company Name

Phone Number

Time with previous auditors

Comment

K P M G

 

15

 

Y.D.MAHARAJ & CO.

 

4

 

Y D MAHARAJ &CO

 

4

 

KMMT BREY (KZN)

 

15

 

 

Tax information

 

Vat Number

4330170947

Status

ACTIVE

Vat Liable Date

1998/03/01

Tax Number

9203119202

Tax Clearance Expire Date

 

Financial Year End

June

Comment

 

 

Black Economic Empowerment Information - No Information on Record

 

ISO Information - No Information on Record

 

Workman's compensation

Registered

Yes

Compliance Certified

Yes

Comment

 

 

Company Structure

 

Subsidiaries Information - No Information on Record

Employees Information - No Information on Record

Company Fleet Information - No Information on Record

Offices Information - No Information on Record

Branch Information - No Information on Record

 

Management Overview

 

Organisational Chart - No Information on Record

Note: One level up and all levels down

Company Structure Information - No Information on Record

Key Deals - No Information on Record

Trade References Information - No Information on Record

 

Adverse Information on Subject

 

Judgements - No information on record

BusinessRescue - No Information on Record

Default Listing - No information on record

Notarial Bonds - No information on record

Bank Information - No Information on Record

Bank Code History - No Information on Record

Previous Bank Account Information - No Information on Record

Deeds Information - No information on record

 

Principals

 

Number of Principals

3

Average Age of Active Principals

43

 

Active Principals

 

Principal - 1 of 3 DIVESHEN NAIDOO

 

Surname

NAIDOO

First Name

DIVESHEN

Other Names

 

Marital Status

 

ID Number

8508185047085

Verified ID Number

Yes

Current Age

27

Designation

BUSINESSMAN

Status

Active

Appointment Date

2012/02/15

Physical Address (at time of Appointment)

76 JACARANDA CRESCENT, ISIPINGO HILLS, 4110

Postal Address

PO BOX 12142, JACOBS, JACOBS, 4052

Current Tel Number

0315611620

Cell number

0824698298

Shareholding/Membership

0.0000

 

 

Principal's Adverse - No information on record

 

Business Information for DIVESHEN NAIDOO

Principal Current Business Interests

 

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

VENK-PAC (PTY)LTD

M1997/008131/07

In Business

15 Years 3 Months

1

No

 

 

 

Principal's Deeds Information - No information on record

Principal - 2 of 3 SHAMALA NAIDOO

 

Surname

NAIDOO

First Name

SHAMALA

Other Names

 

Marital Status

 

ID Number

6106070074082

Verified ID Number

Yes

Current Age

51

Designation

DIRECTOR

Status

Active

Appointment Date

2000/07/01

Physical Address (at time of Appointment)

6 BUCKINHAM COURT, UMHLANGA ROCKS, 4320

Postal Address

P O BOX 152, CANELANDS, 4341

Current Tel Number

0325330929

Cell number

0837864394

Shareholding/Membership

0.0000

 

 

Principal's Adverse - No information on record

 

Business Information for SHAMALA NAIDOO Principal Current Business Interests

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

VENK-PAC (PTY)LTD

M1997/008131/07

In Business

15 Years 3 Months

1

No

 

 

 

Principal's Deeds Information - No information on record

 

Principal - 3 of 3

KASAVAL NAIDOO

 

Surname

NAIDOO

First Name

KASAVAL

Other Names

 

Marital Status

 

ID Number

6003095159057

Verified ID Number

Yes

Current Age

52

Designation

PLASTICS MANUFACTURER

Status

Active

Appointment Date

1998/07/15

Physical Address (at time of Appointment)

76 JACARANDA CRESCENT, ISIPINGO HILLS, 4110

Postal Address

P O BOX 12142, JACOBS, 4052

Current Tel Number

0314658122

Cell number

0837750540

Shareholding/Membership

0.0000

 

 

Principal's Adverse - No information on record

 

Business Information for KASAVAL NAIDOO Principal Current Business Interests

 

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

ROYAL PLASTIC AND POLY PRODUCTS (PTY)LTD

1972/003362/07

In Business

40 Years 5 Months

0

No

 

VEE''S PROPERTIES CC

1987/012395/23

In Business

25 Years 3 Months

0

No

 

ALLIANCE DISTRIBUTORS CC

1995/023454/23

In Business

17 Years 2 Months

0

No

 

VENK-PAC (PTY)LTD

M1997/008131/07

In Business

15 Years 3 Months

1

No

 

 

 

Principal Previous Business Interests

 

Average Age of Previous Business                  12 Years

 

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

D AND A RECYCLING (PTY)LTD

1999/009753/07

Deregistration Final

13 Years 3 Months

0

No

 

VENK PRINT (PTY)LTD

2000/001342/07

Deregistration Final

12 Years 7 Months

0

No

 

 

 

Principal's Deeds Information - No information on record

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.70

UK Pound

1

Rs.87.54

Euro

1

Rs.68.85

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.