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Report Date : |
02.12.2013 |
IDENTIFICATION DETAILS
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Name : |
BISCOPLUS CC |
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Registered Office : |
361 Derdepoort Street, Silverton, Pretoria Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
14.05.1992 |
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Com. Reg. No.: |
1992/013086/23 |
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Legal Form : |
Private Limited Co |
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Line of Business : |
Manufacturers of biscuits and flour |
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No. of Employees : |
150 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 |
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. 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
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Source : CIA |
BISCOPLUS CC
Formerly: BISCOPLUS MANUFACTURING CC, the name
having been changed on 23 July 2004.
Formerly: BISCO FOODS CC, the name having been
changed on 22 January 2003.
Formerly: BISCOPLUS MANUFACTURING CC, the name
having been changed on 15 October 2002.
PHYSICAL ADDRESS:
361 Derdepoort Street
SILVERTON
Pretoria
Gauteng
POSTAL ADDRESS: P O Box 285
SILVERTON
0127
TELEPHONE NUMBER: +27 12 804
5440
FAX NUMBER: +27 12 804 5444
MEMBERS:
30% M
THEODOROU ID
No. 8208190203084
25% P
PAVLOU ID
No. 6612095050080
15% I
THEODOROU ID
No. 4712055031088
10% I
KOUMOUTSARIS ID
No. 6909125119087
10% E
THEODOROU ID
No. Not available
10% J
PROCOPOS ID
No. 4401235068083
BISCOPLUS PROPERTIES CC
FOODCOM
FLEXOPACK
NEW ERA PACKAGING
WILLOWTON
It was stated that the subject is in the process
of building a new factory.
As soon as further information is forthcoming, the
same will be compiled and forwarded to our client. In the meantime, however, please see
historical information dated 24 July 2008 :
I KOUMOUTSARIS ID
No. 6909125119087
P PAVLOU ID
No. 6612095050080
J PROCOPOS ID
No. 4401235068083
I THEODOROU ID
No. 4712055031088
M THEODOROU ID
No. 8208190203084
ABSA BANK, Account Number: 4050303365. It was stated that the subject enjoys
overdraft facilities to an extent of R1 800 000. Utilisation is stated to be full.
14 May 1992
Registration Certificate Number: 1992/013086/23
4280133101
Manufacturers of biscuits and flour
FELDABRIDGE
FLEXOPACK
NEW ERA PACKAGING
WILLOWTON
Retailers such as SPAR
South Africa
None
150
None
The premises are reported to be owned by the
subject.
Full financial information was not forthcoming from
respondents at the subject and outside authorities were unable to assist in
this regard.
DECLINED
FEBRUARY
DECLINED
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Few
years R 200 000 R 30 000 30
days 30 days Good
c/l
2. Jan
2007 R 500 000 R 31 000- 30
days 30 days Good
c/l R 40 000
3. 6
years R2 000 000 R500 000 30
days 30 days Excellent
This is a well-established business meeting its commitments
timeously. We have not traced dealings
to an extent of US$1 000 000 and due to the lack of financial information, a
transaction involving this amount should be on a confirmed letter of credit basis.
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 7
years Open R 600 000 14 days 14
days Good
2. +10
years R 300 000 R 150 000- 30 days 30 days Very Good
R 200 000
3. 3
years R 600 000 R 200 000- 30 days 30 days Good
R 300 000
4. 10
years R2 000 000 R2 000 000 30 days 30 days Good
This is a well-established business meeting its commitments
timeously. The subject is considered
equal to its normal business engagements, however, the lack of general updated
information should be borne in mind.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.59 |
|
|
1 |
Rs.102.05 |
|
Euro |
1 |
Rs.84.97 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
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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.