|
Report Date : |
01.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
OLAM
|
|
|
|
|
|
|
Registered Office : |
|
|
|
|
|
|
|
Country : |
|
|
|
|
|
|
|
Date of Incorporation : |
22.08.2000 |
|
|
|
|
|
|
Com. Reg. No.: |
M2000/020922/07 |
|
|
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
|
|
Line of Business : |
Supply
chain manager and processor of agricultural products and food ingredients |
|
|
|
|
|
|
No. of Employees : |
600 |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
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 Unemployment remains high and outdated infrastructure has constrained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 |
OLAM
SOUTH AFRICA (PTY)LTD |
|
Country |
South
Africa |
|
Requested
Credit Limit |
$
15000000.00 |
|
Enquiry
Terms |
COD |
|
Account
Review |
Recommended
Every 6 Months |
|
Subject
Contact Person |
RONNIE
KISTEN - 0315665499 |
|
Assessment |
This is a
well-established and well -connected business. On investigation we established
that this is a large company. The subject is meeting commitments timeously
with it's suppliers. We await a bank code. Total Credit Limit Exposure: R 10
000 000.Please see the available information for the subject below. |
|
Registered
Name |
OLAM
SOUTH AFRICA (PTY)LTD |
|
Trading
as/ Division Name |
None |
|
Previous
Name |
None |
|
Date
of Name Change |
Oct
25 2000 12:00AM |
|
Registration
Number |
M2000/020922/07 |
|
Registration
Date |
2000/08/22 |
|
Date
Commenced Trading |
|
|
Age
of Business |
12
Years 2 Months |
|
History
of Business |
OLAM has a direct sourcing and
processing presence in most major producing countries catering to 12,300
customers across the world. The subject's global team of 18,000+ has built a
leadership position in many of their businesses - including cocoa, coffee,
cashew, sesame, rice, cotton and wood products. The company handled 10.7
million tonnes of products for a sales revenue of $17.1 billion in FY 2012.
Headquartered in Singapore and listed on the SGX-ST in 2005, OLAM currently
ranks among the top 40 largest listed companies in Singapore in terms of
market capitalisation and is a component stock in the Straits Times Index
(STI), MSCI Singapore Free, S&P Agribusiness Index and the DAXglobal
Agribusiness Index. |
|
History
of Principals |
|
|
Authorised
Share Capital |
R1000.00 |
|
Issued
Share Capital/Members Contribution |
R
100.00 |
|
Status |
In
Business |
|
Operations
Assessment |
Supply chain manager
and processor of agricultural products and food ingredients |
|
Industry/
Customers |
|
|
Export |
Yes |
|
Export
Countries |
India |
|
Import |
Yes |
|
Import
Countries |
India |
|
Major
Industry Code / SICC |
11400 |
|
Definition
of Code |
AGRICULTURAL
AND ANIMAL HUSBANDRY SERVICES, EXCL. VETERINARY ACTIVITIES |
|
Head
Office Physical Address |
5 SINEMBE
CRESCENT, SINEMBE OFFICE PARK, LA LUCIA RIDGE, Kwa-Zulu Natal, 4051 |
|
Head
Office Postal Address |
P
0 BOX 5103, SINEMBE PARK, Kwa-Zulu Natal, 4019 |
|
Current
Tel Number |
0315665499 |
|
Cell
Number |
Unavilable |
|
Current
Fax Number |
0315666499 |
|
Current
Email Address |
|
|
Web
Site Address |
|
Company
Registered Name |
ERNST
& YOUNG REGISTERED AUDITORS INC. |
||||
|
Trading
Name |
None |
||||
|
Registration
Number |
1998/014077/07 |
||||
|
Physical
Address |
1
Pencarrow Crescent, Pencarrow Park. La Lucia, Ridge Office Estate, La Lucia,
4051. |
||||
|
Postal
Address |
P
0 BOX 859, DURBAN, 4000 |
||||
|
Contact
Person |
Mike
Foster |
||||
|
Contact
Number |
0315768000 |
||||
|
Email |
|||||
|
Principals |
1 |
||||
|
Judgements
Against Subject |
None |
||||
|
Judgements
Against Principals |
None |
||||
|
Subject
Verified as Client |
Yes |
||||
|
Practice
Number |
908215E |
||||
|
VAT
Number |
Unavailable |
||||
|
Tax
Number |
9471356841 |
||||
|
BEE
Status |
Level
2 |
||||
|
Financial
Year End |
June |
||||
|
No
of years in Business |
6 |
||||
|
Website |
|||||
|
Comment |
|
||||
|
Previous
Auditors |
|||||
|
Company Name |
Phone Number |
Time with previous auditors |
Comment |
|
|
|
ERNST AND YOUNG |
|
Unknown |
|
|
|
|
Vat
Number |
4810192569 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
2001/04/01 |
|
Tax
Number |
9102167146 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
June |
|
Comment |
|
|
Black
Economic Empowerment |
|
|
Status |
Yes |
|
Score |
4.00 |
|
Expire
Date |
|
|
BEE
Certificate Available |
|
|
Comment |
|
|
|
|
|
ISO
Information - No Information on Record |
|
|
Workman's
compensation |
|
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
|
Comment |
|
Subsidiaries Information - No Information on Record
|
Employees |
||||
|
Number
of Employees |
600 |
|||
|
1.
Salaried employees |
|
|||
|
2.
Waged employees |
|
|||
|
3.
Permanent employees |
|
|||
|
4.
Casual employees |
|
|||
|
5.
Contracted employees |
|
|||
|
Comment |
|
|||
|
Company
Fleet |
||||
|
Company
Fleet |
No
of vehicles: |
Ownerd/Leased |
Value |
Outstanding
Balance |
|
Fleet
Operations |
|
|
|
|
|
The
Fleet is made up of |
4 |
|||
|
Comment |
|
|||
|
Cars |
4 |
Owned |
|
|
|
Offices |
Offices |
|
|
Head
Office Owned/ Rented |
Leased |
|
|
Rental
Company |
UNIGY
PROPERTIES |
|
|
Owned
by |
|
|
|
Value |
|
|
|
Bond |
|
|
|
Bank |
|
|
|
Lease
Agreement |
5
YEARS |
|
|
Lease
Expire Date |
|
|
|
Type
of Premises |
OFFICES |
|
|
Comment |
|
|
|
Branch
Information |
||
|
Branches Names |
Country |
Province |
|
JOHANNESBURG |
South Africa |
GAUYENG |
|
CAPE TOWN |
South Africa |
EASTERN CAPE |
|
Branch
Detail Information |
||
|
Branches
Owned/ Rented |
|
|
|
Rental
Company |
|
|
|
Owned
by |
|
|
Organisation Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
|
DIRECTOR |
SAM PLACID |
|
|
|
|||
|
|
DIRECTOR |
RIKIN MUKESHKUMAR
SHAH |
|
|
|
|||
|
|
DIRECTOR |
MAHDURAY KISTEN |
|
|
|
|||
|
1 |
DIRECTOR |
DAMODARAN RAMESH
MOOCHIKAL |
|
|
|
|||
|
1 |
DIRECTOR |
ANESH PATEL |
|
Note:
One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
DEEMED
CONFIDENTIAL |
|
|
|
Key Deals - No Information on Record
Trade reference
|
Trade Reference
nr |
Supplier |
Contact |
Surety Value |
Notarial
Bonds |
Comment |
|
1 |
ATLAS TRADING |
0313021700 |
|
|
|
|
2 |
FARM WISE |
0117873666 |
|
|
|
|
3 |
SANVES |
0184641804 |
|
|
|
Details
|
Nr |
Age
of Acc |
Credit
Limit |
Max
Credit |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
|
1 |
1 YEAR |
R10000000.00 |
R 3000000 |
7 DAYS |
R 3000000 |
7 DAYS |
EXCELLENNT |
|
2 |
2 YEARS |
R0.00 |
R 39000000 |
30
DAYS |
R10000000 |
30 DAYS |
OPEN ACCOUNT-NO CREDIT LIMIT-VERY
GOOD ACCOUNT |
|
3 |
3 Years |
R0.00 |
R0 |
30
Days |
R0 |
30 Days |
Good Account - Do Not Give Trade
Reference |
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 |
MHLANGA
RIDGE |
|
Brach
Code |
Unavailable |
|
Bank
Account Number |
052568814 |
|
Type
of Account |
CURRENT |
|
Account
Name |
OLAM
SOUTH AFRICA (PTY) LTD |
|
Overdraft
Facilities |
YES |
|
Bank
Code |
|
|
Bank
Comment |
|
Bank Code History - No Information on Record
Previous Bank Account Informat ion - No Information on Record
Property Interests
for Company OLAM SOUTH AFRICA (PTY)LTD
|
Title
Deed No. |
T162/2010 |
Erf/Site
No. |
|
|
Deeds
Office |
KIMBERLEY |
Physical
Address |
JAN
KEMPDORP JAN KEMPDORP |
|
Property
Type |
Small
Holding |
Extent
/ Size |
5.4978H |
|
Purchase
Date |
2006/05/31 |
Purchase
price |
|
|
%
Ownership |
0.00 |
Bond
Holder |
|
|
Bond
Number |
|
Bond
Amount |
|
|
Comment |
|
||
Financial Estimates
|
Current
Turnover per annum |
|
|
Comment |
Deemed
Confidential |
|
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 |
|
Number
of Principals |
5 |
|
Average
Age of Active Principals |
46 |
|
Active
Principals Principal - 1of 5 SAM PLACID |
|
|
Surname |
PLACID |
|
First
Name |
SAM |
|
Other
Names |
None |
|
Marital
Status |
Married |
|
ID
Number |
6108010000000 |
|
Verified
ID Number |
No |
|
Current
Age |
51 |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2011/12/01 |
|
Physical
Address (at time of Appointment) |
B20-1
PEARL BREEZE, 6 LAGOON DRIVE, UMHLANGA, 4319 |
|
Postal
Address |
P
0 BOX 5103, SINEMBE PARK, 4019 |
|
Current
Tel Number |
031566
5499 |
|
Cell
number |
|
|
Shareholding/Membership |
0.0000 |
Principal's Adverse - No information on record
Business Information forS AM PLACID
Principal Current
Business Interests
|
Company
Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
OLAM SOUTH AFRICA
(PTY)LTD |
M2000/020922/07 |
In Business |
0 |
0 |
No |
|
Principal's
Previous Business Interests - No information on record
Principal's
Deeds Information - No information on record
|
Principal
- 2of 5 RIKIN MUKESHKUMAR SHAH |
|
|
Surname |
SHAH |
|
First
Name |
RIKIN
MUKESHKUMAR |
|
Other
Names |
None |
|
Marital
Status |
|
|
ID
Number |
8312280000000 |
|
Verified
ID Number |
No |
|
Current
Age |
29 |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2010/10/26 |
|
Physical
Address (at time of Appointment) |
5 HATHAWAY, 3-5
ZUNIS CLOSE SOUTHERN HILLS, MOUNT EDGECOMBE GOLF ESTATE, 4051 |
|
Postal
Address |
P
O BOX 5103, SINEMBE OFFICE PARK, 4019 |
|
Current
Tel Number |
0315665499 |
|
Cell
number |
|
|
Shareholding/Membership |
0.0000 |
Principal's Adverse - No information on record
Business Information forR IKIN MUKESHKUMAR SHAH
Principal Current
Business Interests
|
Company
Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
OLAM
SOUTH AFRICA (PTY)LTD |
M2000/020922/07 |
In Business |
0 |
0 |
No |
|
|
CARAWAY
FOODS INTERNATIONAL SOUTH AFRICA (PTY) LTD |
M2005/023788/07 |
In Business |
7
Years 7 Months |
0 |
No |
|
Principal's Previous Business Interests - No information on record
Principal's Deeds
Information - No information on record
|
Principal
- 3of 5 MAHDURAY KISTEN |
|
|
Surname |
KISTEN |
|
First
Name |
MAHDURAY |
|
Other
Names |
None |
|
Marital
Status |
Married |
|
ID
Number |
5203025134086 |
|
Verified
ID Number |
Yes |
|
Current
Age |
60 |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2009/03/01 |
|
Physical
Address (at time of Appointment) |
3
HOLLYWOOD CRESCENT, WOODVIEW, PHOENIX, 4051 |
|
Postal
Address |
P
O BOX 5103, SINEMBE PARK, 4019 |
|
Current
Tel Number |
0313035990 |
|
Cell
number |
0834554645 |
|
Shareholding/Membership |
0.0000 |
Principal's Adverse - No information on record
Business Information forM AHDURAY KISTEN
Principal Current
Business Interests
|
Company
Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
OLAM SOUTH AFRICA
(PTY)LTD |
M2000/020922/07 |
In Business |
0 |
0 |
No |
|
Principal's
Previous Business Interests - No information on record
Principal's Deeds Information - No information on record
|
Principal
- 4of 5 DAMODARAN RAMESH MOOCHIKAL |
|
|
Surname |
MOOCHIKAL |
|
First
Name |
DAMODARAN
RAMESH |
|
Other
Names |
None |
|
Marital
Status |
|
|
ID
Number |
6608280000000 |
|
Verified
ID Number |
No |
|
Current
Age |
46 |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2007/06/01 |
|
Physical
Address (at time of Appointment) |
29
MUIFIELD CIRCLE, MOUNT EDGECOMBE
ESTATE, 4319 |
|
Postal
Address |
P
O BOX 5103, SINEMBE PARK, 4019 |
|
Current
Tel Number |
0315665499 |
|
Cell
number |
|
|
Shareholding/Membership |
0.0000 |
Principal's Adverse - No information on record
Business Information for DAMODARAN RAMESH MOOCHIKAL
Principal Current
Business Interests
|
Company
Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
OLAM
SOUTH AFRICA (PTY)LTD |
M2000/020922/07 |
In Business |
0 |
0 |
No |
|
|
CARAWAY
FOODS INTERNATIONAL SOUTH AFRICA (PTY) LTD |
M2005/023788/07 |
In Business |
7
Years 7 Months |
0 |
No |
|
Principal's
Previous Business Interests - No information on record
Principal's
Deeds Information - No information on record
|
Principal
- 5of 5 ANESH PATEL |
|
|
Surname |
PATEL |
|
First
Name |
ANESH |
|
Other
Names |
None |
|
Marital
Status |
|
|
ID
Number |
710901 |
|
Verified
ID Number |
No |
|
Current
Age |
Unknown |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
|
|
Physical
Address (at time of Appointment) |
302
NATALIE LODGE, 57 CLARIBEL ROAD, DURBAN, 4001 |
|
Postal
Address |
P
O BOX 52008, BEREA CENTRE, DURBAN, 4001 |
|
Current
Tel Number |
0315665499 |
|
Cell
number |
|
|
Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information
for ANESH PATEL
Principal Current
Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
OLAM SOUTH
AFRICA (PTY)LTD |
M2000/020922/07 |
In
Business |
0 |
0 |
No |
|
Principal's
Previous Business Interests - No information on record
Principal's
Deeds Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.12 |
|
|
1 |
Rs.87.07 |
|
Euro |
1 |
Rs.70.15 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.