MIRA INFORM REPORT
|
Report Date : |
16.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
KERRY INGREDIENTS SOUTH AFRICA (PTY) LTD |
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Formerly Known As : |
KERRY BIOSCIENCE |
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Registered Office : |
268 Fleming Road, Meadowdale 1609 |
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Country : |
South Africa |
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Date of Incorporation : |
15.01.2004 |
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Com. Reg. No.: |
2004/000621/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacture of spices,
condiments, vinegar, yeast, egg products, soups and other food products |
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No. of Employees
: |
130 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
R 1 500 000 |
|
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 – 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
|
Subject
Name |
KERRY INGREDIENTS SOUTH AFRICA
(PTY) LTD |
|
Country |
SOUTH AFRICA |
|
Requested
Credit Limit |
R 1 500 000 |
|
Enquiry
Terms |
30 DAYS |
|
Account
Review |
6 MONTHS |
|
Subject
Contact person |
MR MARK PERCIEN - Financial Manager 011 9236360 |
|
Assessment |
This
is an established company, which forms part of an international group. The
subject is meeting its obtainable commitments timeously. We
have not traced dealings to an extent of R1 500 000 over 30 days, however, a bank
code C was obtained for the latter amount over 30 days. The
lack of financial information should be borne in mind. |
|
Registered
Name |
KERRY INGREDIENTS SOUTH
AFRICA (PTY) LTD |
|
Trading
as |
KERRY INGREDIENT AND
FLAVOUR |
|
Previous
Name |
KERRY BIOSCIENCE |
|
Date of
Name Change |
Unavailable |
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Registration
Number |
2004/000621/07 |
|
Registration
Date |
2004-01-15 |
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Date
Commenced Trading |
2004-01-15 |
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Age of
Business |
8 Years 2 Months |
|
History
of Business |
The subject was commenced
as a new business in 2004. |
|
History
of Principals |
It was established that
both the principles are involved in KERRY GROUP PLC. |
|
Shareholders
and % holding |
100% KERRY GROUP
NETHERLANDS, which in turn forms part of KERRY GROUP PLC. |
|
Authorised
Share Capital |
R1000.00 divided into 1
000 ordinary R1 shares |
|
Issued
Share Capital |
R1 |
|
Status |
In Business |
|
Operations
Assessment |
Importers and
distributors of flavourants and spices for meats, soups, sauces, dressings
and savoury snacks |
|
Industry/
Customers |
Retail chain stores |
|
Export |
NIGERIA |
|
Major
Industry Code / SICC |
30499 |
|
Definition
of Code |
Manufacture of spices,
condiments, vinegar, yeast, egg products, soups and other food products n.e.c |
|
Head
Office Physical Address |
268 Fleming Road
MEADOWDALE Johannesburg Gauteng |
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Head
Office Postal Address |
PO Box 597 ISANDO 1600 |
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Current
Tel Number |
011 9236360 |
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Cell
number |
Unavailable |
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Current
Fax Number |
086 2199841 |
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Current
Email Address |
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Web Site
Address |
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Company
Registered Name |
DELOITE & TOUCHE |
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Trading Name |
None |
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Registration
Number |
|
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Physical
Address |
20 Woodland Road WOODMEAD 2051 |
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Postal Address |
Private
Bag X6 GALLO MANOR 2052 |
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Contact Person |
LOOBEN PATEL |
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Contact Number |
011 2096684 |
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Email |
|
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Principals |
Unavailable |
|
Judgements
Against Subject |
None |
|
Judgements
Against Principals |
None |
|
Subject
Verified as Client |
Yes |
|
SAICA number |
902276 |
|
VAT Number |
4220121935 |
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Tax Number |
Unavailable |
|
BEE Status |
Level 2 |
|
Financial Year
End |
February |
|
Years With
Auditors |
5 |
|
Website |
|
Previous Auditors
|
Company Name |
Phone Number |
Time with previous auditors |
|
BDO SPENCER |
|
Unknown |
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Vat
Number |
4790211736 |
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Status |
Active |
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Vat
Liable Date |
2004-04-01 |
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Tax
Number |
9163679153 |
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Tax
Clearance Expire Date |
Unavailable |
|
Financial
Year End |
December |
|
Status |
Yes |
|
Score |
Level
6 |
|
Expire
Date |
Renewal |
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BEE
Certificate Available |
Yes |
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ISO Status |
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Type
of ISO Grade |
Unavailable |
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ISO
Certificate |
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ISO
Certificate Available |
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Certified
by an Accredited Agent |
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Workman's
compensation |
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Registered |
Yes |
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Compliance
Certified |
Yes |
Subsidiaries
|
Subsidiary Company |
Non in South Africa |
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Shareholding |
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Registration Number |
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Import / Export |
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Number of
Employees |
130 |
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1. Salaried
employees |
130 |
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2. Waged
employees |
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3. Permanent
employees |
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4. Casual
employees |
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5. Contracted
employees |
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Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding Balance |
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Fleet Operations |
None |
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The Fleet is made up of |
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1. Cars |
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2. Light
Delivery Vehicles |
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3. Trailers |
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4. Busses |
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5. Trucks |
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6. Fork
Lifts |
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7. Other |
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Offices |
Yes |
Head Office Owned/ Rented |
The head office premises
are reported to be leased from a 3 party. |
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Rental Company |
CARGO EMBASSY |
|
Owned by |
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|
Value |
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|
Bond |
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|
Bank |
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Lease Agreement |
3 Years |
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Lease Expire Date |
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Type of Premises |
Offices |
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Branches Names |
Country |
Province |
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DURBAN |
SOUTH AFRICA |
KWAZULU NATAL |
|
CAPE TOWN |
SOUTH AFRICA |
KWAZULU NATAL |
Branches Owned/ Rented |
It was stated that both
the branch premises are leased from 3 parties. |
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Rental Company |
Unavailable |
|
Owned |
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|
Value |
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|
Bank |
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|
Bond |
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|
Lease Agreement |
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|
Lease Expire Date |
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Type of Premises |
The branch premises
comprise of administration offices. |
Organisation chart
|
Level |
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Position |
Name |
|
1 |
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CEO |
PAUL STANDISH MC CARTHY |
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1 |
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DIRECTOR |
BRIAN CORNELIUS MEHIGAN |
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Company
Structure (Ownership) |
|||
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Note: One level
up and all levels down |
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Holding |
Company |
Sub |
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100% KERRY
GROUP NETHERLANDS |
KERRY INGREDIENTS SOUTH AFRICA (PTY) LTD |
None |
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Key
deals signed within the past 12 months.
|
Company |
Value |
Contact |
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|
The respondent declined
to assist in this regard |
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Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
|
1 |
CARGO CAMPUSS |
011 4542010 |
None |
None |
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2 |
YELLOW JERSEY
LOGISTIC |
011 3961172 |
No |
None |
|
3 |
THOMSONS TRAVEL |
031 2753729 |
None |
None |
|
4 |
EPIC OILS |
011 2480000 |
None |
None |
Trade References
Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
Do |
Not |
Give |
Trade |
Reference |
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|
|
2 |
4 Years |
Open Account |
R 200 000 |
7 Days |
R 200 000 |
7 Days |
Very Good |
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3 |
Do |
Not |
Give |
Trade |
Reference |
|
|
|
4 |
10 Years |
Confidential |
Confidential |
Confidential |
Confidential |
Confidential |
Very Good |
Judgements
|
Judgements |
None |
|
Possible
Judgements |
None |
|
Civil Court |
None |
|
RDs |
None |
Business Rescue
|
Date registered |
Business rescue practitioner |
Contact Information |
Details |
|
None |
|
|
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Default Listings
|
Date |
Details |
|
None |
|
Notarial Bonds
|
Date |
Details |
|
None |
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|
Bank |
CITY BANK |
|
Branch |
SANDTON |
|
Bank Account Number |
0200875036 |
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Type of Account |
Current |
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Account Name |
KERRY INGRIENT SA (PTY) LTD |
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Overdraft Facilities |
The respondent declined
to divulge any information regarding overdraft facilities. |
|
Date Opened |
|
|
Bank Code |
C |
|
Bank Comment |
The subject is considered
as equal to its normal business engagements and to a figure of R 1 500 000
over 30 days. |
Bank Codes History
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
Years with bank |
|
None |
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Previous Bank
Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
None |
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Property Interestsfor Company
|
Title Deed No. |
None |
Erf/Site No. |
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|
Deeds Office |
|
Physical Address |
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Property Type |
|
Extent / Size |
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|
Purchase Date |
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Purchase price |
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|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Financial
Information
Financial
Estimates
|
CURRENT ASSETS |
Unavailable |
|
Stock |
|
|
Debtors |
|
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FIXED ASSETS |
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|
Plant, Equipment, Vehicles |
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|
Property |
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CURRENT LIABILITIES |
|
|
Creditors |
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Loans/ From? |
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LONG TERM LIABILITIES |
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|
Morgage Bonds |
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Previous Year Turnover |
|
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Estimated Current Year Turnover |
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|
Current Turnover per month |
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|
Current Turnover per annum |
|
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 |
2 |
|
Average Age of Active Principals |
53 |
Active Principals
Principal 1 of 2: PAUL STANDISH MC CARTHY
|
Surname |
MC CARTHY |
|
First Name |
PAUL |
|
Other Names |
STANDISH |
|
Marital Status |
Married |
|
ID Number |
5709240000000 |
|
Verified ID Number |
No |
|
Current Age |
55 |
|
Designation |
CEO KERRY GROUP PLC |
|
Status |
Active |
|
Appointment Date |
2008-05-13 |
|
Physical Address (at time of Appointment) |
119 N Lincoln Avenue Hinsdale Chicago USA IL 60521 |
|
Postal Address |
119 N Lincoln Avenue Hinsdale Chicago USA IL 60521 |
|
Current Tel Number |
011 9236360 |
|
Cell number |
Unavailable |
|
Current Fax Number |
086 2199841 |
|
Current Email Address |
|
|
Shareholding |
0.0000 |
Adverse Information for: PAUL STANDISH MC
CARTHY
Judgement
|
Number of
Judgements |
None |
Debt
Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information for: PAUL STANDISH MC
CARTHY
Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
KERRY INGREDIENTS SOUTH AFRICA (PTY) LTD |
2004/000621/07 |
In Business |
8 Years 2 Months |
0 |
No |
Previous
Business Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
None |
|
|
|
|
|
Deeds Information
Property
Interests for: PAUL STANDISH MC CARTHY
|
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 2: BRIAN CORNELIUS MEHIGAN
|
Surname |
MEHIGAN |
|
First Name |
BRIAN |
|
Other Names |
CORNELIUS |
|
Marital Status |
Married |
|
ID Number |
6107010000000 |
|
Verified ID Number |
No |
|
Current Age |
51 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2004-04-20 |
|
Physical Address (at time of Appointment) |
Killelton Camp Tralee County Kerry IRELAND 0000 |
|
Postal Address |
Princess Street Tralee County Kerry IRELAND 0000 |
|
Current Tel Number |
011 9266360 |
|
Cell number |
Unavailable |
|
Current Fax Number |
086 2199841 |
|
Current Email Address |
|
|
Shareholding |
0.0000 |
Adverse Information for: BRIAN CORNELIUS
MEHIGAN
Judgement
|
Number of
Judgements |
None |
Debt
Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information for: BRIAN CORNELIUS
MEHIGAN
Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
KERRY INGREDIENTS SOUTH AFRICA (PTY) LTD |
2004/000621/07 |
In Business |
8 Years 2 Months |
0 |
No |
Previous
Business Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
None |
|
|
|
|
|
Deeds Information
Property
Interests for: BRIAN CORNELIUS MEHIGAN
|
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 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.22 |
|
UK Pound |
1 |
Rs.78.64 |
|
Euro |
1 |
Rs.65.54 |
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.