MIRA INFORM REPORT

Report Date :

24.08.2013

IDENTIFICATION DETAILS

Name :	MARLYN CHEMICALS (PTY)LTD

Registered Office :	64 Nasmith Avenue, Jupiter Ext 5, Heriotdale, Germiston

Country :	South Africa

Date of Incorporation :	30.03.1990

Com. Reg. No.:	M1990/001843/07

Legal Form :	Private Company

Line of Business :	manufacturer of chemicals.

No. of Employees :	09

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No Company
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	MARLYN CHEMICALS (PTY) LTD
Country	SOUTH AFRICA
Subject Contact Person	JANE BAYLEY - Financial Manager
Assessment	This is a well-established business. On investigation contact was made with JANE BAYLEY, the Financial Manager of the company who assisted with the information. MARLYN CHEMICALS (PTY)LTD has been operating for 23 Years 5 Months. The company is meeting its commitments timeously with suppliers. No adverse information was revealed during the investigation. The contact number, Physical and Po Box provided by yourself : P O BOX 39428, 201627, HELVELLYN ROAD, THE HILL, JOHANESBURG, GAUTENG is reported to be the previous addresses of the company. Please see the information obtained below.

Auditors information

Company Registered Name	HLB BARNET CHOWN INC
Trading Name	HLB BARNET CHOWN
Registration Number	M2006/011332/21
Physical Address	BLOCK B BRADFORD HOUSE, 12 BRADFORD ROAD, BEDFORDVIEW, 2007
Postal Address	P O BOX 442, BRUMA, 2026
Contact Person	Unavailable
Contact Number	0118565300
Email	hlb@hlb.co.za
Principals	5
Judgements Against Subject	No information found on file
Judgements Against Principals	No information found on file
Subject Verified as Client	Yes
Practice Number	902230
VAT Number	4440227710
Tax Number	9616560158
BEE Status	Unavailable
Financial Year End	February
No of years in Business	7 Years 4 Months
Website	www.hlb.co.za

Previous Auditors Information - No Information on Record

Tax information

Vat Number	4100103599
Status	ACTIVE
Vat Liable Date	1991/09/30
Tax Number	9385212841
Financial Year End	August

Black Economic Empowerment

Status	No
BEE Certificate Available	No
Comment	The company conducts its local business through its BEE certified company AAARLYN VULINDLELA (PTY) LTD

ISO Information - No Information on Record

Work Mans Information - No Information on Record

Company Structure

Subsidiaries

Subsidiary Company	MARLYN VULINDLELA (PTY)LTD
Shareholding	100%
Registration Number	2003/011805/07
Import / Export	None
Employees
Number of Employees	9
1. Salaried employees	9
2. Waged employees	0
3. Permanent employees	9
4. Casual employees	0
5. Contracted employees	0
Company Fleet
Company Fleet	No of vehicles:	Owned/Leased	Value	Outstanding Balance
Fleet Operations
The Fleet is made up of	3
Comment
Light delivery Vehicles	3	Leased

Offices

Offices	Offices
Head Office Owned/ Rented	Leased
Rental Company	PALMER FAMILY TRUST
Lease Agreement	ANNUAL
Type of Premises	Office and warehouse

Branch Information - No Information on Record

Management Overview

Organisation Chart

Level	Position	Name	Comment

1	DIRECTOR	LESIE RICHARD PALMER

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
100% - PALMER FAMILY TRUST	MARLYN CHEMICALS (PTY) LTD

Key Deals - No Information on Record

Trade References

Trade Reference nr	Supplier	Contact	Surety Value	Notarial Bonds	Comment
1	NCP Chlorchem (Pty) Ltd	011 921 3111			Faxed
2	Reddy Cargo Services C C	0110215217
3	Cargocare Freight	0118224111
	Services

Trade References Detail

Nr	Age of Acc	Credit Limit	Max Credit	Terms	Average Purchases	Terms Taken	Comment
1							Awaiting Trade Reference
2	15 Years		R 700000	30 Days	R 500000	30 Days	There is no credit limit. Good Account
3	4 years						The referee only shipped one load in 2009. No further details were made available

Adverse Information on Subject

Judgements

Judgements	None
Possible Judgements	None
Civil Court	0
RDs	0
Comment	No Information on Record

Business Rescue

Date registered	Business rescue practitioner	Contact Information	Details	Comment
	There is no information found on file	No Information on Record	No Information on Record	No Information on Record

Default Listings

Date	Details	Comment
	There is no information found on file	No Information on Record
Notarial Bonds
Date	Details	Comment
	There is no information found on file	No Information on Record

Bank information

Bank	STANDARD BANK
Branch	SANDTON
Brach Code	051001
Bank Account Number	022671048
Type of Account	Current
Account Name	MARLYN CHEMICALS (PTY) LTD
Overdraft Facilities	Unavailable
Bank Code	C
Bank Comment	Good for the amount quoted, if strictly in the way of business.

Bank Code History - No Information on Record

Previous Bank Account Information - No Information on Record

Deeds Information - No information on record

Principals

Number of Principals	1
Average Age of Active Principals	63

Active Principals Principal - 1of 1 RICHARD PALMER

Surname	PALMER
First Name	RICHARD
Other Names	LESIE
Marital Status	Single
ID Number	5010015034089
Verified ID Number	Yes
Current Age	62 Years 10 Months
Designation	Director
Status	Active
Appointment Date	1990/05/04
Physical Address (at time of Appointment)	173 VORSTER AVENUE, GLENVISTA, EXT 5, 2058
Postal Address	P O BOX 39428, BOOYSENS, 2016
Current Tel Number	0114360705
Cell number	0832666320
Shareholding/Membership	0.00

Principal's Adverse - No information on record

Business Information for RICHARD PALMER

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
CARAVEL CASHEW COMPANY (PTY) LTD	M1993/006882/07	In Business	20 Years 8 Months	0	No
CARBON ASSOCIATES (PTY) LTD	M1986/002275/07	In Business	27 Years 3 Months	0	No
J H MECO OILS (PTY) LTD	M2006/034422/07	In Business	7 Years 7 Months	0	No
JOHLES PRODUCTS (PTY) LTD	M1998/000350/07	In Business	15 Years 3 Months	0	No
MARLYN CHEMICALS (PTY) LTD	M1990/001843/07	In Business	23 Years 11 Months	0	No
MARLYN ENVIRONMENTAL (PTY) LTD	M2003/026529/07	In Business	10 Years 10 Months	0	No
MARLYN VULINDLELA (PTY) LTD	M2003/011805/07	In Business	10 Years 10 Months	0	No

Principal Previous Business Interests

Average Age of Previous Business 19 Years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
CARBONEX (PTY)LTD	M1993/000389/07	Deregistration Final	20 Years 8 Months	0	No
THE GAS ZONE (PTY) LTD	M1995/001555/07	In Business	18 Years 6 Months	0	No

Principal's Deeds Information - No information on record

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.64.69
UK Pound	1	Rs.100.79
Euro	1	Rs.86.30

INFORMATION DETAILS

Report Prepared by :

MNL

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	MARLYN CHEMICALS (PTY)LTD
Trading as/ Division Name	MARLYN
Previous Name	None
Date of Name Change	None
Registration Number	M1990/001843/07
Registration Date	1990/03/30
Date Commenced Trading	1990-03-30
Age of Business	23 Years 5 Months
History of Business	MARLYN CHEMICALS (PTY) LTD was registered in March 1990 and operations commenced immediately.
History of Principals	There is one active director within the company.
Shareholders/Members/Partners of subject and % holding	100 % - PALMER FAMILY TRUST
Authorised Share Capital	R0.00
Issued Share Capital/Members Contribution	R0.00
Status	In Business
Operations Assessment	The company is involved in the manufacture of chemicals.
Industry/ Customers	Mining and Water treatment industry
Export	Yes
Export Countries	Lesotho, Malaysia,Mozambique, Namibia, Swaziland
Import	Unknown
Major Industry Code / SICC	33599
Definition of Code	Manufacture of other chemical products n.e.c.
Head Office Physical Address	64 NASMITH AVENUE, JUPITER EXT 5, HERIOTDALE, GERMISTON
Head Office Postal Address	PO BOX 39428, BOOYSENS, 2016
Current Tel Number	0118732117 / 8 /9
Cell Number	0792094048
Current Fax Number	0118732176
Current Email Address	sales@marlyn.co.za
Web Site Address	www.miningchemicalsuppliers.com