|
Report Date : |
14.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
XENA CHEMICALS CC |
|
|
|
|
Registered Office : |
20 Galeniet Street, Juskie, 2162 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
23.11.2005 |
|
|
|
|
Com. Reg. No.: |
B2005/169991/23 |
|
|
|
|
Legal Form : |
Closed Corporation |
|
|
|
|
Line of Business : |
Manufacturer of paints, varnishes and coatings, printing ink and
mastics |
|
|
|
|
No. of Employees : |
03 employees |
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 : |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
South Africa - ECONOMIC OVERVIEW
south Africa is a middle-income, emerging market with
an abundant supply of natural resources; well-developed financial, legal,
communications, energy, and transport sectors; a stock exchange that is the
18th largest in the world; and modern infrastructure supporting a relatively
efficient distribution of goods to major urban centers throughout the region.
Growth was robust from 2004 to 2007 as South Africa reaped the benefits of
macroeconomic stability and a global commodities boom but began to slow in the
second half of 2007 due to an electricity crisis and the subsequent global
financial crisis' impact on commodity prices and demand. GDP fell nearly 2% in
2009 but recovered in 2010-11. Unemployment remains high and outdated
infrastructure has constrained growth. State power supplier Eskom encountered problems
with aging plants and meeting electricity demand necessitating
"load-shedding" cuts in 2007 and 2008 to residents and businesses in
the major cities. Daunting economic problems remain from the apartheid era -
especially poverty, lack of economic empowerment among the disadvantaged
groups, and a shortage of public transportation. South Africa''s economic
policy is fiscally conservative focusing on controlling inflation and attaining
a budget surplus. The current government largely follows these prudent policies
but must contend with the impact of the global crisis and is facing growing
pressure from special interest groups to use state-owned enterprises to deliver
basic services to low-income areas and to increase job growth.
|
Source : CIA |
|
Subject Name |
XENA CHEMICALS CC |
|
Country |
South Africa |
|
Subject Contact Person |
DUDLEY HORNE - 0117042172 |
|
Assessment |
On investigation contact was made with MR. DUDLEY HORNE the member of the company who assisted with the investigation. This is a well established company. The subject imports all it's goods, there are no local credit dealings within SA as a result no trade references were obtained. A Bank Code C was obtained for an amount of R500 000 over a period of 30 Days. The subject declined to provide any financial information as this information is considered to be confidential. Please see the available information for the subject below. |
|
Registered Name |
XENA CHEMICALS CC |
|
Trading as/ Division Name |
None |
|
Previous Name |
None |
|
Registration Number |
B2005/169991/23 |
|
Registration Date |
2005/11/23 |
|
Date Commenced Trading |
2005-11-23 |
|
Age of Business |
7 Years 1 Month |
|
History of Business |
None |
|
History of Principals |
None |
|
Shareholders/Members/Partners of subject and % holding |
100% - DUDLEY HORNE |
|
Authorised Share Capital |
R1000.00 |
|
Issued Share Capital/Members Contribution |
R 100.00 |
|
Status |
In Business |
|
Operations Assessment |
Stocking and distribution of imported pigment colours |
|
Industry/ Customers |
Masterbatch etc. |
|
Export |
None |
|
Import |
Yes |
|
Import Countries |
India |
|
Major Industry Code / SICC |
33520 |
|
Definition of Code |
Manufacture of paints, varnishes and coatings,
printing ink and mastics |
|
Head Office Physical Address |
20 Galeniet Street, Juskie, 2162 |
|
Head Office Postal Address |
P 0 BOX 1233, Juskie North, 2153 |
|
Current Tel Number |
0117042172 |
|
Cell Number |
0828944471 |
|
Current Fax Number |
0866544528 |
|
Current Email Address |
|
|
Web Site Address |
None |
|
Comments |
|
|
Company Registered Name |
SMITH YOUNG & ASSOCIATES |
|
Physical Address |
Unt2/3 Somerset Office Est, Kudu Ave, Aliens Nek, Roodepoort, 1709 |
|
Postal Address |
P 0 BOX 22074, HELDERKRUIN, 1733 |
|
Contact Person |
TREVOR SMITH |
|
Contact Number |
0114759526 |
|
Email |
|
|
Judgements Against Subject |
None |
|
Judgements Against Principals |
None |
|
Subject Verified as Client |
Yes |
|
Practice Number |
93651 OA |
|
VAT Number |
Unavailable |
|
Tax Number |
Unavailable |
|
BEE Status |
None |
|
Financial Year End |
Unavailable |
|
No of years in Business |
Unknown |
Previous Auditors Information - No Information on Record
|
Vat Number |
4700230610 |
|
Status |
ACTIVE |
|
Vat Liable Date |
2006/07/01 |
|
Tax Number |
9326975159 |
|
Tax Clearance Expire Date |
|
|
Financial Year End |
February |
|
Comment |
|
|
Black Economic
Empowerment |
|
|
Status |
No |
|
ISO Status |
|
|
ISO Certificate |
No |
|
ISO Certificate Available |
No |
|
Certified by an Accredited Agent |
No |
|
Workman's compensation |
|
|
Registered |
No |
|
Compliance Certified |
No |
Subsidiaries Information - No Information on Record
|
Employees |
||||
|
Number of Employees |
3 |
|||
|
1. Salaried employees |
3 |
|||
|
Company Fleet |
||||
|
Company Fleet |
No of vehicles: |
Owned/Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is made up of |
1 |
|||
|
Comment |
|
|||
|
Cars |
1 |
Owned |
|
|
Offices
|
Offices |
Offices |
|
|
Head Office Owned/ Rented |
Owned |
|
|
Owned by |
DUDLEY HORNE |
|
|
Type of Premises |
HOUSE |
|
|
Branch Information |
||
|
Branches Names |
Country |
Province |
|
None |
|
|
Organisation Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
MEMBER |
DUDLEY HORNE |
|
Company Structure
(Ownership)
Note: One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
100% DUDLEY HORNE |
XENA CHEMICALS CC |
|
|
Key Deals - No Information on Record
|
Trade Reference
nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
|
1 |
0 |
0 |
R0.00 |
0 |
|
Trade References
Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
0 |
R0.00 |
R0 |
0 |
R0 |
0 |
IMPORTS STOCK
FROM INDIA |
Judgements - No information on record
BusinessRescue - No Information on Record
Default Listing - No information on record
Notarial Bonds - No information on record
|
Bank |
STANDARD BANK |
|
Branch |
SANDTON |
|
Brach Code |
051001 |
|
Bank Account Number |
421017228 |
|
Type of Account |
CURRENT |
|
Account Name |
XENA CHEMICALS CC |
|
Overdraft Facilities |
YES |
|
Bank Code |
C For R 500 000 |
|
Bank Comment |
The subject's bankers consider them good for all business normal
engagements. |
Bank Code History - No Information on Record
Previous Bank Account Information - No Information on Record
Deeds Information - No information on record
|
Number of Principals |
1 |
|
Average Age of Active Principals |
65 |
Active Principals Principal - 1of 1 DUDLEY HORNE
|
Surname |
HORNE |
|
First Name |
DUDLEY |
|
Other Names |
None |
|
Marital Status |
Married |
|
ID Number |
4703055121102 |
|
Verified ID Number |
Yes |
|
Current Age |
65 |
|
Designation |
Member |
|
Status |
Active |
|
Appointment Date |
2006/03/30 |
|
Physical Address (at time of Appointment) |
20 GALENIET STREET, JUKSKEI PARK, 2162 |
|
Postal Address |
P 0 BOX 106, NORTHRIDING, 2162 |
|
Current Tel Number |
0117911449 |
|
Cell number |
0879402541 |
|
Shareholding/Membership |
100% |
Principal's Adverse -
No information on record
Business Information
for DUDLEY HORNE
Principal Current
Business Interests
|
Company Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
XENA CHEMICALS CC |
B2005/169991/23 |
In Business |
7 Years 7 Months |
0 |
No |
|
Principal Previous
Business Interests
Average Age of
Previous Business 16
Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
TRIUMPH CHEMICALS CC |
B1994/004113/23 |
Deregistration Final |
18 Years 6 Months |
0 |
No |
|
|
FIRST CHEMICALS (PTY) LTD |
M1997/006878/07 |
Deregistration Final |
15 Years 3 Months |
0 |
No |
|
Principal's Deeds
Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.23 |
|
UK Pound |
1 |
Rs.87.53 |
|
Euro |
1 |
Rs.70.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.