%20LTD%20-%20164192%202%2017-Jan-2012_files/image002.jpg){kind=small}
MIRA INFORM
REPORT
|
Report Date : |
17.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
MARICO SOUTH AFRICA (PTY) LTD |
|
|
|
|
Formerly Known As : |
ENALENI PHARMACEUTICALS CONSUMER DIVISION (PTY) LTD |
|
|
|
|
Registered Office : |
1474 South Coast Road, Mobeni 4052 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
10.06.1977 |
|
|
|
|
Com. Reg. No.: |
M1977/001752/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
The manufacturing and distribution of consumer products such
as hair care, skin care and affordable healthcare |
|
|
|
|
No. of Employees
: |
119 |
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 |
|
Maximum Credit Limit : |
US$ 1 500 000 |
|
|
|
|
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
South Africa |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
company details
|
Subject Name |
MARICO SOUTH AFRICA (PTY) LTD |
|
Country |
South Africa |
|
Requested Credit Limit |
US$ 1 500 000 |
|
Enquiry Terms |
D/A |
|
Account Review |
Every Six Months |
|
Subject Contact person |
Zamila Rayman – Financial Manager |
|
Assessment |
Total Credit Limit Exposure: Total Suretyship: This is a well established company, which was taken over by the current shareholders in 2008. The subject is meeting local commitments timeously and is considered equal to an amount of R1 500 000, however, the lack of a bank code should be borne in mind. |
Company Information
|
Registered Name |
MARICO SOUTH AFRICA (PTY) LTD |
|
Previous Name |
ENALENI PHARMACEUTICALS CONSUMER DIVISION (PTY) LTD |
|
Date of Name Change |
2008-02-11 |
|
Registration Number |
M1977/001752/07 |
|
Registration Date |
1977-06-10 |
|
Date Commenced Trading |
2008-02-11 |
|
Age of Business |
34 Years 6 Months |
|
History of Business |
The shareholding changed from ENALENI PHARMACEUTICALS LTD to current
in 2008. |
|
Shareholdersof subject and % holding |
100% MARICO INDIA LTD – in Mumbai |
|
Authorised Share Capital |
600 000 ordinary shares of 1 cent each |
|
Issued Share Capital/Members Contribution |
5 000 ordinary shares of 1 cent each |
|
Status |
This Business is Active |
|
Operations Assessment |
The manufacturing and distribution of
consumer products such as hair care, skin care and affordable healthcare. |
|
Major Customers |
Retail and wholesale chain stores as well
as to independent retailers such as pharmacies etc. |
|
Area of Distribution |
South Africa |
|
Export |
Neighbouring countries such as Lesotho,
Namibia |
|
Major Industry Code / SICC |
33542 MANUFACTURING |
|
Definition of Code |
Manufacture of perfumes, cosmetics and
other toilet preparations |
|
Head Office Physical Address |
1474 South Coast Road MOBENI 4052 |
|
Head Office Postal Address |
PO Box 32003 MOBENI 4060 |
|
Current Tel Number |
031 4519300 |
|
Cell number |
082 444 7765 – John Mason |
|
Current Fax Number |
031 451 3950 |
|
Current Email Address |
|
|
Web Site Address |
None |
Auditors Information
|
Company Registered Name |
PRICEWATERHOUSECOOPERS |
|
Trading Name |
PWC |
|
Registration Number |
1998/012055/21 |
|
Physical Address |
102 Stephen Dlamini Road BEREA Kwazulu Natal |
|
Postal Address |
P O Box 1049 DURBAN 4000 |
|
Contact Person |
Navin Ramlagan |
|
Contact Number |
031 271 2000 |
|
Email |
|
|
Principals |
248 |
|
Judgements Against Subject |
None on record |
|
Judgements Against Principals |
None on record |
|
Subject Verified as Client |
Yes |
|
SAICA number |
00054601 |
|
VAT Number |
4950174682 |
|
Tax Number |
9343032844 |
|
Financial Year End |
June |
|
Years With Auditors |
2 months |
|
Website |
Previous Auditors
|
Company Name |
Time with previous auditors |
|
K P M G |
12 years |
|
DELOITTE AND
TOUCHE |
Unknown |
|
NGUBANE AND CO |
Unknown |
Tax Information
|
Vat Number |
4670110552 |
|
Status |
Active |
|
Vat Liable Date |
1991-09-30 |
|
Tax Number |
9618195847 |
|
Tax Clearance Expire Date |
2012 |
|
Financial Year End |
March |
Black Economic Empowerment
|
Status |
Yes |
|
Score |
Code C |
|
Expire Date |
2012 |
|
BEE Certificate Available |
No |
ISO Status
|
Type of ISO Grade |
None at present, however, it was stated that the subject will apply
for an ISO grade later on in the new year. |
Workman’s compensation
|
Registered |
Yes |
|
Compliance Certified |
No |
Company Structure
Subsidiaries
|
Subsidiary Company |
None |
|
Number of
Employees |
119 (permanent
and temporary) |
Company Fleet |
No of vehicles: |
|
Fleet Operations |
|
|
The Fleet is made up of |
|
|
1. Cars |
1 |
|
2. Light
Delivery Vehicles |
1 |
The vehicles are paid
up and owned by the subject with a combined book value of R97 000.
|
Offices |
|
Head Office Owned/ Rented |
The head office premises are leased from a third party. |
|
Rental Company |
GROWTHPOINT PROPERTIES |
|
Lease Agreement |
99 year lease agreement |
|
Type of Premises |
The premises comprise of administration offices, warehousing and
manufacturing facilities. |
Branches |
|
None |
Management
Overview
Organisation chart
|
Z RAYMAN Financial Manager |
A ALLOOGRAM Operations Manager |
J NIEWENHUYS Sales Manager |
T MKHWANASI Marketing Manager |
Trade
References
The subject imports from India.
|
Trade
Reference nr |
Supplier |
Contact |
|
1 |
MONDI PACKAGING |
031 451 2111 |
|
2
|
SAVANNAH FINE CHEMICALS |
011 856 4500 |
|
3 |
PLASTIC BLOW CONTAINERS |
031 577 7407 |
|
4 |
GRINDROD |
031 302 7705 |
Trade
References Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
Do |
Not |
Give |
Trade |
References |
|
|
|
2 |
11 years |
R1 500 000 |
R1 000 000 |
45 |
R1 000 000 |
45 |
Very good |
|
3 |
15 years |
R2 000 000 |
R1 200 000 |
30 |
R900 000 – R1 200 000 |
30 |
Very good |
|
4 |
Do |
Not |
Give |
Trade |
references |
|
|
Adverse Information on Subject
Judgements
|
Judgements |
None |
|
Possible
Judgements |
None |
|
Civil Court
Records |
None |
|
RDs |
None |
Business Rescue
|
Date registered |
Business rescue practitioner |
Contact Information |
Details |
|
None |
|
|
|
Default Listings
|
Date |
Details |
|
None |
|
Notarial Bonds
|
Date |
Details |
|
None |
|
Bank Information
|
Bank |
STANDARD BANK |
|
Branch |
Durban |
|
Overdraft Facilities |
It was stated that the subject enjoys an overdraft facility. Further information regarding banking details and the overdraft
facility was declined by the respondent. |
Bank Codes History
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
Years with bank |
|
None on record |
|
|
|
|
|
|
|
Previous Bank
Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
None on record |
|
|
|
|
|
Deeds Information
Property
Interestsfor Company
|
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 |
|
Financial Information
Financial
Estimates
|
CURRENT ASSETS |
|
|
Stock |
R20 000 000 |
|
Debtors |
R22 000 000 |
|
FIXED ASSETS |
|
|
Plant, Equipment, Vehicles |
R 1 795 000 |
|
Property |
Nil |
|
CURRENT LIABILITIES |
|
|
Creditors |
R37 000 000 |
|
LONG TERM LIABILITIES |
|
|
Morgage Bonds |
Nil |
|
Current Turnover per annum |
R200 000 000 |
Please note the
following:
|
Turnover and assets less than R 1,000,000.00 |
The subject falls within the National Credit Act |
|
Turnover and assets less than R 2,000,000.00 |
The subject falls within the Consumer Protection Act |
Principals
|
Number of Principals |
5 |
|
Average Age of Active Principals |
48 |
Active Principals
Principal 1 of 5:
HARSH MARIWALA
|
Surname |
MARIWALA |
|
First Name |
HARSH |
|
Marital Status |
Married |
|
Date of Birth |
51-05-14 |
|
Verified ID Number |
No |
|
Current Age |
60 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2007-12-18 |
|
Physical Address (at time of Appointment) |
Salisbury Park 10 Pali Mala Road Bandra (W) MUMBAI 0000 |
|
Postal Address |
Rang Sharda KC Marg Bandra Reclamation Bandra (W) MUMBAI 0000 |
Adverse
Information for: HARSH MARIWALA
Judgement
|
Number of
Judgements |
None on record |
Debt Review
|
Debt review |
None on record |
Other
|
Default data |
None on record |
Business
Information for: HARSH MARIWALA
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
MARICO SOUTH
AFRICA CONSUMER CARE (PTY) LTD |
2007/025470/07 |
In Business |
4 Years 3 Months |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
None on record |
|
|
|
|
|
Deeds Information
Property Interestsfor: HARSH MARIWALA
|
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 1 of 2:
MILIND SARWATE
|
Surname |
SARWATE |
|
First Name |
MILIND |
|
Date of Birth |
59-09-23 |
|
Verified ID Number |
No |
|
Current Age |
52 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2007-12-18 |
|
Physical Address (at time of Appointment) |
E-201/202 Sita Vihar Near Damani Estate L.B.S Marg Naupa THANE (W) 0000 |
|
Postal Address |
Rang Sharda KC Marg Bandra Reclamation Bandra MUMBAI |
Adverse
Information for: MILIND SARWATE
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information
for:MILIND
SARWATE
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
MARICO SOUTH
AFRICA CONSUMER CARE (PTY) LTD |
2007/025470/07 |
In Business |
4 Years 3 Months |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
None on record |
|
|
|
|
|
Deeds Information
Property Interestsfor: MILIND SARWATE
|
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 5:
VIJAY SANKAR SUBRAMANIAN
|
Surname |
SUBRAMANIAN |
|
First Name |
VIJAY |
|
Other Names |
SANKAR |
|
Date of Birth |
68-10-30 |
|
Verified ID Number |
No |
|
Current Age |
43 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2007-12-18 |
|
Physical Address (at time of Appointment) |
2001/2002 Norita Hiranandani Garden Powai Mumbai INDIA 0000 |
|
Postal Address |
Rang Sharda KC Marg Bandra Reclamation Bandra MUMBAI 0000 |
Adverse Information
for:
VIJAY SANKAR SUBRAMANIAN
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information for: VIJAY SANKAR SUBRAMANIAN
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
MARICO SOUTH
AFRICA CONSUMER CARE (PTY) LTD |
2007/025470/07 |
In Business |
4 Years 3 Months |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
None on record |
|
|
|
|
|
Deeds Information
Property Interestsfor: VIJAY SANKAR SUBRAMANIAN
|
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 4 of 5:
PADMANABH MAYDEO
|
Surname |
PADMABAH |
|
First Name |
MAYDEO |
|
Date of Birth |
72-08-29 |
|
Verified ID Number |
No |
|
Current Age |
39 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2007-12-18 |
|
Physical Address (at time of Appointment) |
Flat No.6 Shubhankar Apartment Sree Nagar Mahabai Jaigoan MUMBAI 0000 |
|
Postal Address |
PO Box 32003 MOBENI 4060 |
Adverse
Information for: PADMANABH MAYDEO
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information for: PADMANABH MAYDEO
Current Business Interests
|
Company Name |
Registratio No |
Status |
Age of Business |
Judgements |
Liquidation |
|
MARICO SOUTH
AFRICA CONSUMER CARE (PTY) LTD |
2007/025470/07 |
In Business |
4 Years 3 Months |
0 |
No |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
None on record |
|
|
|
|
|
Deeds Information
Property Interestsfor: PADMANABH MAYDEO
|
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 5:
JOHN R MASON
|
Surname |
MASON |
|
First Name |
JOHN |
|
Other Names |
R |
|
Marital Status |
Married |
|
ID Number |
65090551190089 |
|
Verified ID Number |
Yes |
|
Current Age |
46 |
|
Designation |
Managing Director |
|
Status |
Active |
|
Appointment Date |
2007-12-18 |
|
Physical Address (at time of Appointment) |
4Maillhaven Place La Lucia DURBAN 4051 |
|
Postal Address |
PO Box 72625 MOBENI 4060 |
|
Current Tel Number |
031 5727931 |
|
Cell number |
082 4447765 |
Adverse
Information for: JOHN R MASON
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information for: JOHN R MASON
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
MARICO SOUTH
AFRICA CONSUMER CARE (PTY) LTD |
2007/025470/07 |
In Business |
4 Years 3 Months |
0 |
No |
|
CPF
INTERNATIONAL (PTY) LTD |
M1995/007913/07 |
Deregistration Process |
16 Years 5 Months |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
22 |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
ANDREW SALES AND
MARKRTING CC |
1989/008107/23 |
Deregistration Final |
22 Years 9 Months |
0 |
No |
Deeds Information
Property Interestsfor: JOHN R MASON
|
Title Deed No. |
T24742/2009 |
Erf/Site No. |
|
|
Deeds Office |
PIETERMRITZBURG |
Physical Address |
23 Armstrong La Lucia UMHLANGA |
|
Property Type |
Freehold/Ervin |
Extent / Size |
1327.0SQM |
|
Purchase Date |
2009-05-08 |
Purchase price |
R 2 500 000,00 |
|
% Ownership |
0.0000 |
Bond Holder |
NEDBANK LTD |
|
Bond Number |
B125862009 |
Bond Amount |
R 255 700.00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.65 |
|
UK Pound |
1 |
Rs.79.09 |
|
Euro |
1 |
Rs.65.32 |
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.