|
Report Date : |
18.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
SENSIENT COLORS |
|
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Registered Office : |
Unit 2 |
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Country : |
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Date of Incorporation : |
24.04.1995 |
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Com. Reg. No.: |
M1995/003593/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacture
of perfumes, cosmetics and other toilet preparations |
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|
|
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|
No. of Employees : |
18 |
|
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 – 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 |
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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and outdated infrastructure has constrained growth.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 |
SENSIENT
COLORS SOUTH AFRICA (PTY)LTD |
|
Country |
South
Africa |
|
Subject
Contact Person |
HENRY
- Procurement Manager / CONSTANCE - Finance |
|
Assessment |
This is a well-established
and well -connected business. On investigation contact was made with HENRY
who assisted with the information. The business has been in operation for 17
years. No adverse information was found on file. HENRY declined to provide
any local trade references and banking details as the business will no longer
be dealing with any agents from INDIA. Please see the available information
obtained below. |
|
Registered
Name |
SENSIENT
COLORS SOUTH AFRICA (PTY)LTD |
|
Trading
as/ Division Name |
None |
|
Previous
Name |
None |
|
Date
of Name Change |
|
|
Registration
Number |
M1995/003593/07 |
|
Registration
Date |
1995/04/24 |
|
Date
Commenced Trading |
April
1995 |
|
Age
of Business |
17
Years 5 Months |
|
History
of Business |
SENSIENT COLORS
SOUTH AFRICA (PTY)LTD was registered in 1995 and operations commenced
immediately. According to the spokesperson business has not undergone a name
change in December 2002 as reflected by CIPC. |
|
History
of Principals |
Christopher Daniels joined
Sensient in July 1999 as Treasury Analyst. In 2001 he was promoted to
Manager, Finance, and in 2005 he became Manager, Treasury and Risk. In 2006,
he was promoted to Director of Treasury Services, and in October 2008, he
became Assistant Treasurer. In July 2010 he was elected to the position of
Vice President, Human Resources. CHRISTOPHER MARVIN DANIELS previously held
the position of credit analyst at Briggs & Stratton. |
|
Shareholders/Members/Partners
of subject and % holding |
100
% - SENSIENT TECHNOLOGIES CORPORATION (Registered in the USA) |
|
Authorised
Share Capital |
R0.00 |
|
Issued
Share Capital/Members Contribution |
R0.00 |
|
Status |
In
Business |
|
Operations
Assessment |
Receiving
and storage of raw material ,formulation , manufacturing and distribution of
primary colours and fragrances for beauty products,essential oils and food
products |
|
Industry/
Customers |
Food
and cosmetic companies |
|
Export |
Yes |
|
Export
Countries |
Malawi,Mozambique,
Namibia, Zimbabwe |
|
Import |
Yes |
|
Import
Countries |
|
|
Major
Industry Code / SICC |
33542 |
|
Definition
of Code |
Manufacture
of perfumes, cosmetics and other toilet preparations |
|
Head
Office Physical Address |
UNIT 2 EXECUTIVE OFFICE
CITY, INDUSTRIA ROAD, KYA SANDS, RANDBURG, 2194 |
|
Head
Office Postal Address |
SUITE
173, PRIVATE BAG X7, NORTHRIDING, 2163 |
|
Current
Tel Number |
0114627150 |
|
Cell
Number |
0829409512 |
|
Current
Fax Number |
0114627152 |
|
Current
Email Address |
aret.
meyer@sensient.com |
|
Web
Site Address |
|
|
Comments |
|
|
Company
Registered Name |
TUFFIAS
SANDBERG (PTY)LTD |
|
Trading
Name |
TUFFIAS
SANDBERG KSI |
|
Registration
Number |
M2000/021861/07 |
|
Physical
Address |
GREENSTONE HILL
OFFICE PARKBUILDING NO 8 EMERALD BLVDGREENSTONE HILL EXT 221609 |
|
Postal
Address |
POSTNET
SUITE NO 223PRIVATE BAG X10010EDENVALE1610 |
|
Contact
Person |
|
|
Contact
Number |
011
524 9700 |
|
Email |
|
|
Principals |
6 |
|
Judgements
Against Subject |
No
information found on file |
|
Judgements
Against Principals |
No
information found on file |
|
Subject
Verified as Client |
Yes |
|
Practice
Number |
906840E |
|
VAT
Number |
|
|
Tax
Number |
|
|
BEE
Status |
|
|
Financial
Year End |
|
|
No
of years in Business |
4 |
|
Website |
|
|
Comment |
|
|
Company Name |
Phone Number |
Time with previous auditors |
Comment |
|
WATERNARK
AUDITORS INCORPORATED |
|
6 |
|
|
RICHARD CROOKS AND CO |
|
15 |
|
|
MRI AUDITORS INCORPORATED |
|
15 |
|
|
Vat
Number |
4400150225 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
1995/06/01 |
|
Tax
Number |
9451338843 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
December |
|
Comment |
|
|
Black
Economic Empowerment |
|
|
Status |
No |
|
Score |
|
|
Expire
Date |
|
|
BEE
Certificate Available |
|
|
Comment |
|
|
ISO Status |
|
|
Type
of ISO Grade |
ISO
9001 |
|
ISO
Certificate |
Yes |
|
ISO
Certificate Available |
Yes |
|
Certified
by an Accredited Agent |
|
|
Comment |
The company is also
HACCP SANS10330:2007 certified (HACCP (SANS 10330) - Hazard Analysis and
Critical Control Point Systems) |
|
Workman's
compensation |
|
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Registered |
Yes |
|
Compliance
Certified |
Yes |
|
Comment |
|
Company
Structure
Subsidiaries Information - No Information on Record
|
Employees |
||||
|
Number
of Employees |
18 |
|||
|
1.
Salaried employees |
18 |
|||
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2.
Waged employees |
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|||
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3.
Permanent employees |
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|||
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4.
Casual employees |
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5.
Contracted employees |
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Comment |
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Company
Fleet |
||||
|
Company
Fleet |
No
of vehicles: |
Ownerd/Leased |
Value |
Outstanding
Balance |
|
Fleet
Operations |
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The
Fleet is made up of |
1 |
|||
|
Comment |
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|||
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Light
delivery Vehicles |
1 |
Owned |
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Offices |
Offices |
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Head
Office Owned/ Rented |
Leased |
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Rental
Company |
En's
Property Group |
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Owned
by |
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|
Value |
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|
Bond |
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|
Bank |
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|
Lease
Agreement |
Annual
Lease Agreement |
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|
Lease
Expire Date |
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|
Type
of Premises |
|
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|
Comment |
|
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Branch
Information |
||
|
Branches Names |
Country |
Province |
|
There are no local branches of the
business |
South Africa |
|
Organisation Chart
Company Structure Information - No Information on Record
Note: One level up
and all levels down
Key Deals - No
Information on Record
|
Trade
Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
|
1 |
|
|
|
|
The business imports products from Sensient Colors Sa De Cv in
Veracruz via Houston. Local trade references were declined. |
Trade References Detail
|
Nr |
Age
of Acc |
Credit
Limit |
Max
Credit |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
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Adverse Information on Subject
Judgements
|
Judgements |
NONE |
||||
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Possible Judgements |
No Information on Record |
||||
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Civil Court |
No Information on Record |
||||
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RDs |
No Information on Record |
||||
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Comment |
No Information on Record |
||||
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Business
Rescue |
|||||
|
Date registered |
Business
rescue practitioner |
Contact
Information |
Details |
Comment |
|
|
|
NONE |
No
Information on Record |
No Information on Record |
No Information on
Record |
|
Default
Listings
|
Date |
Details |
Comment |
|
|
NONE |
No Information on Record |
|
Notarial
Bonds |
||
|
Date |
Details |
Comment |
|
|
NONE |
No Information on Record |
Bank Information - No
Information on Record
Bank Code History - No
Information on Record
Previous Bank Account
Informat ion - No Information on Record
Deeds Information -
No information on record
Financial Estimates
|
CURRENT
ASSETS |
|
|
Stock |
|
|
Debtors |
|
|
FIXED
ASSETS |
|
|
Plant,
Equipment, Vehicles |
|
|
Property |
|
|
CURRENT
LIABILITIES |
|
|
Creditors |
|
|
Loans/
From? |
|
|
Loan
Details |
|
|
LONG
TERM LIABILITIES |
|
|
Morgage
Bonds |
|
|
Previous
Year Turnover |
|
|
Estimated
Current Year Turnover |
|
|
Current
Turnover per month |
|
|
Current
Turnover per annum |
R
36000000.00 |
|
Comment |
The attached
Financial statements are of the holding company Sensient Technologies
Corporation for the Financial Year as at December 2011 |
|
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 |
3 |
|
Average
Age of Active Principals |
37 |
|
Active
Principals Principal - 1of 3 ARET A MEYER |
|
|
Surname |
A
MEYER |
|
First
Name |
ARET |
|
Other
Names |
None |
|
Marital
Status |
Single |
|
ID
Number |
7903020040083 |
|
Verified
ID Number |
Yes |
|
Current
Age |
33 |
|
Designation |
BUSINESSWOMAN |
|
Status |
Active |
|
Appointment
Date |
2011/10/01 |
|
Physical
Address (at time of Appointment) |
297
TYRONE AVENUE, BRONBERRICK, CENTURION, 0157 |
|
Postal
Address |
SUITE
1, PRIVATE BAG X 7, NORTHRIDING, 2162 |
|
Current
Tel Number |
0114627150 |
|
Cell
number |
0829409512 |
|
Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information
forA RET A MEYER
Principal Current
Business Interests
|
Company
Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
SENSIENT
COLORS SOUTH AFRICA (PTY) LTD |
M1995/003593/07 |
In Business |
17 Years 5 Months |
0 |
No |
|
Principal's Previous
Business Interests - No information on record
Principal's
Deeds Information - No information on record
|
Principal
- 2of 3 CHRISTOPHER DANIELS |
|
|
Surname |
DANIELS |
|
First
Name |
CHRISTOPHER |
|
Other
Names |
MARVIN |
|
Marital
Status |
|
|
ID
Number |
7304160000000 |
|
Verified
ID Number |
No |
|
Current
Age |
39 |
|
Designation |
BUSINESSMAN |
|
Status |
Active |
|
Appointment
Date |
2009/02/06 |
|
Physical
Address (at time of Appointment) |
N73
W23325 FONTAINE CIRCLE, SUSSEX, WISCONSIN 53089, UNITED STATES OF AMERICA,
0000 |
|
Postal
Address |
N73
W23325 FONTAINE CIRCLE, SUSSEX, WISCONSIN 53089, UNITED STATES OF AMERICA,
0000 |
|
Current
Tel Number |
|
|
Cell
number |
|
|
Shareholding/Membership |
0.0000 |
Principal's Adverse - No information on record
Business Information forC HRISTOPHER DANIELS
Principal Current Business Interests
|
Company
Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
SENSIENT
COLORS SOUTH AFRICA (PTY) LTD |
M1995/003593/07 |
In Business |
17 Years 5 Months |
0 |
No |
|
Principal's
Previous Business Interests - No information on record
Principal's
Deeds Information - No information on record
|
Principal
- 3of 3 |
|
|
Surname |
|
|
First
Name |
|
|
Other
Names |
|
|
Marital
Status |
|
|
ID
Number |
|
|
Verified
ID Number |
No |
|
Current
Age |
|
|
Designation |
|
|
Status |
|
|
Appointment
Date |
|
|
Physical
Address (at time of Appointment) |
|
|
Postal
Address |
|
|
Current
Tel Number |
|
|
Cell
number |
|
|
Shareholding/Membership |
|
Principal's Adverse -
No information on record
Business Information
for
Principal Current
Business Interests
|
Company
Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
SENSIENT
COLORS SOUTH AFRICA (PTY) LTD |
M1995/003593/07 |
In Business |
17 Years 5 Months |
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.53.97 |
|
|
1 |
Rs.87.52 |
|
Euro |
1 |
Rs.70.84 |
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.