MIRA INFORM REPORT

Report Date :

07.08.2013

IDENTIFICATION DETAILS

Name :	D B FINE SPECIALITIES (PTY) LTD

Registered Office :	Clearview Office Park, Block C - Unit 12a, Wilhelmina Avenue, Constantia Kloof, 1709

Country :	South Africa

Date of Incorporation :	25.06.2010

Com. Reg. No.:	M2010/013299/07

Legal Form :	Private Company

Line of Business :	subject operates as an importer and distributor of specialized chemicals.

No. of Employees :	10

RATING & COMMENTS

MIRA’s Rating :

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 – March, 31^st,2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

South Africa

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 and a stock exchange that is the 15th largest in the world. Even though the country possesses modern infrastructure that support a relatively efficient distribution of goods to major urban centers throughout the region, some components retard growth. The economy began to slow in the second half of 2007 due to an electricity crisis. 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. Subsequently, the global financial crisis reduced commodity prices and world demand. GDP fell nearly 2% in 2009 but has recovered since then. Unemployment, poverty, and inequality remain a challenge, with official unemployment at nearly 25% of the work force. State power supplier Eskom has built two new power stations and installed new power demand management programs to improve power grid reliability. South Africa's economic policy has focused on controlling inflation, however, the country has had significant budget deficits that restrict its ability to deal with pressing economic problems. The current government faces 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

D B FINE SPECIALITIES (PTY)LTD

Country

South Africa

Assessment

This is an established business.

On investigation contact was made with REX TIMPSON the financial manager of the company who assisted with all of the required information.

Commitments are being met timeously with suppliers.

We are awaiting a bank code.

Please see the available information below.

Auditors information

Company Registered Name	DEVOS RICHARDS
Registration Number	5909145013089 (Sole Proprietor)
Physical Address	CLEARVIEW OFFICE PARK, BLOCK C, WILHELMINA AVANUE, CONSTANTIA KLOOF, FLORIDA, ROODEPOORT, GAUTENG
Postal Address	P O BOX 6910, WESTGATE, 1734
Contact Person	LEN
Contact Number	0116751866
Email	Unavailable
Principals	1
Judgements Against Subject	None On Record
Judgements Against Principals	None On Record
Subject Verified as Client	Yes
Practice Number	914584
VAT Number	4450115011
Tax Number	Unavailable
BEE Status	Unavailable
Financial Year End	Unavailable
No of years in Business	2 Years 11 Months
Website	None

Previous Auditors Information - No Information on Record

Tax information

Vat Number	4070257490
Status	ACTIVE
Vat Liable Date	2010/11/01
Tax Number	Unavailable
Financial Year End	February

Black Economic Empowerment

Status	No
BEE Certificate Available	No

ISO Information - No Information on Record

Workman's compensation

Registered	Yes
Compliance Certified	Yes

Company Structure

Subsidiaries

Subsidiary Company	There are no reported subsidiaries
Employees
Number of Employees	10
1. Salaried employees	10
2. Waged employees
3. Permanent employees	10
Company Fleet
Company Fleet	No of vehicles:	Owned/Leased	Value	Outstanding Balance
Fleet Operations
The Fleet is made up of	5
Comment
Cars	4	Owned
Light delivery Vehicles	1	Owned

Offices

Offices	Offices
Head Office Owned/ Rented	Owned
Rental Company	Not Applicable
Owned by	EIFFEL PROPERTY
Bank	Unavailable
Lease Agreement	Not Applicable
Lease Expire Date	Not Applicable
Type of Premises	Offices

Branch Information - No Information on Record

Management Overview

Organisation Chart

Level	Position	Name	Comment

1	Managing Director	DION BAUMANN

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
100% - DION BAUMANN	DB FINE SPECIALTIES (PTY) LTD

Key Deals - No Information on Record

Trade References

Trade Reference nr	Supplier	Contact	Surety Value	Notarial Bonds	Comment
1	CAPELAIR	0113984900
2	TLX	0119614800
3	RB ANSON	0119745984

Trade References Detail

Nr	Age of Acc	Credit Limit	Max Credit	Terms	Average Purchases	Terms Taken	Comment
1	1 Years	R1200000.00	R1000000	30 Days	R 700000	30 Days	Very Good
2							Declined
3	3 Years	R 30000.00	R 20000	30 Days	R10000	30 Days	Good Account

Adverse Information on Subject

· Judgements - No information on record

Business Rescue - No Information on Record

Default Listing - No information on record

Notarial Bonds - No information on record

Bank information

Bank	NEDBANK
Branch	RIVONIA
Brach Code	198765
Bank Account Number	1969086599
Type of Account	Current
Account Name	DB FINE CHEMICALS (PTY) LTD
Bank Code	Awaiting Bank Code

Bank Code History - No Information on Record

Previous Bank Account Information - No Information on Record

Deeds Information - No information on record

Financial Estimates

CURRENT ASSETS	R14974720.00
Previous Year Turnover	R 62000000.00
Estimated Current Year Turnover	R 62000000.00
Current Turnover per month	R 5166666.00
Current Turnover per annum	R 62000000.00

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	1
Average Age of Active Principals	51

Active Principals Principal - 1of 1 DION BAUMANN

Surname	BAUMANN
First Name	DION
Other Names	None
ID Number	6209215240087
Verified ID Number	Yes
Current Age	50 Years 10 Months
Designation	Managing Director
Status	Active
Appointment Date	2010/08/11
Physical Address (at time of Appointment)	39 CURZON ROAD, BRYANSTON, 2191
Postal Address	P O BOX 786, RIVONIA, 2128
Current Tel Number	0118072991
Cell number	0793404657
Shareholding/Membership	100%

Principal's Adverse - No information on record

Business Information for DION BAUMANN

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
D B FINE CHEMICALS (PTY) LTD	M1995/004258/07	In Business	18 Years 6 Months	0	No
D B FINE SPECIALITIES (PTY) LTD	M2010/013299/07	In Business	3 Years 3 Months	0	No
DREAM WEAVER TRADING 271 (PTY) LTD	M2007/018661/07	In Business	6 Years 6 Months	0	No
EIFEL PROPERTY CC	B1998/017533/23	Conversion CO/CC or CC/CO	15 Years 3 Months	0	No
M J E PROPERTIES (PTY) LTD	M1995/004651/07	Deregistration Process	18 Years 6 Months	0	No
MAKARIOS PROPERTY CC	B1995/049586/23	Conversion CO/CC or CC/CO	18 Years 6 Months	0	No
VIGAPOINT INVESTMENTS (PTY) LTD	M2009/006197/07	In Business	4 Years 4 Months	0	No

Principal Previous Business Interests

Average Age of Previous Business 10 Years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
DON NAY MSD (PTY) LTD	M2001/000588/07	Deregistration Final		0	No
MONTANA IMPORTERS CC	B1994/040847/23	Deregistration Final	19 Years 7 Months	0	No
OCEAN DRIVE HIDEAWAY CC	B2002/067400/23	Deregistration Final	11 Years 11 Months	0	No

Principal's Deeds Information - No information on record

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.54
UK Pound	1	Rs.94.37
Euro	1	Rs.81.57

INFORMATION DETAILS

Report Prepared by :

SMN

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

Registered Name	D B FINE SPECIALITIES (PTY)LTD
Trading as/ Division Name	None
Previous Name	None
Date of Name Change	None
Registration Number	M2010/013299/07
Registration Date	2010/06/25
Date Commenced Trading	2010-06-25
Age of Business	3 Years 1 Months
History of Business	D B FINE SPECIALITIES (PTY)LTD commenced trading as a new company in 2010.
History of Principals	There is 1 active director within the company.
Shareholders/Members/Partners of subject and % holding	100% - DION BAUMANN
Authorised Share Capital	R1000.00
Issued Share Capital/Members Contribution	R 100.00
Status	In Business
Operations Assessment	The subject operates as a importer and distributor of specialized chemicals.
Industry/ Customers	The pharmaceutical industry
Export	None
Import	Yes
Major Industry Code / SICC	61909
Definition of Code	Other wholesale trade n.e.c.
Head Office Physical Address	CLEARVIEW OFFICE PARK, BLOCK C - UNIT 12A, WILHELMINA AVENUE, CONSTANTIA KLOOF, 1709
Head Office Postal Address	P O BOX 6910, WESTGATE, 1734
Current Tel Number	0118072997
Cell Number	Unavailable
Current Fax Number	0118070953
Current Email Address	accounts@dbfne.co.za
Web Site Address	www.dbfine.co.za
Comments	The address provided : Unit 12 Woodview Office Park, 1 Humber Street, Woodmead, Johannesburg, belongs to the subject's sister company DB FINE CHEMICALS (PTY) LTD.