MIRA INFORM REPORT

 

 

Report Date :

03.12.2013

 

IDENTIFICATION DETAILS

 

Name :

COLUMBIA PHARMACEUTICALS (PTY) LTD

 

 

Registered Office :

8 Middle Road , BARDENE EXT 32 , Boksburg , Gauteng

 

 

Country :

South Africa

 

 

Date of Incorporation :

04.12.1984

 

 

Legal Form :

Private Company

 

 

Line of Business :

Manufacturers of pharmaceuticals, medicines and vitamins on a contract basis for companies who outsource the manufacturing of their branded goods.

 

 

No. of Employees :

8 employees of which 20 are contractors

 

 

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, 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

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. 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

COMPANY NAME

 

COLUMBIA PHARMACEUTICALS (PTY) LTD

 

 

Company address

 

PHYSICAL ADDRESS: 8 Middle Road

BARDENE EXT 32

Boksburg

Gauteng

 

POSTAL ADDRESS:     P O Box 7026

BONAERO PARK

1622

 

TELEPHONE NUMBER: +27 11 918 0000

FAX NUMBER:              +27 11 918 0005

 

 

SHAREHOLDERS

 

50% L BEETGE

50% S F BEETGE

 

 

ASSOCIATE COMPANIES

 

BERWIN ERF REMOVERS (PTY) LTD (property owning company)

 

 

DIRECTORS

 

L BEETGE D.O.B. 400908

S F BEETGE (brother) D.O.B. 4505035025083

 

BANKERS

 

STANDARD BANK, Kempton Park branch (012442) and ABSA BANK, Kempton Park branch (334642). It was stated that the subject enjoys overdraft facilities. Utilisation is stated to be nil as credit balances are normally maintained at the banks.

 

DATE REGISTERED

 

4 December 1984

Registration Certificate Number 1984/011146/07

The subject commenced as a new business. COLUMBIA PHARMACEUTICALS (PTY) LTD Page 2 of 3

 

VAT NUMBER

 

4490113265

 

 

TAX NUMBER

 

9170312640

 

 

BEE STATUS

 

Level 4 contributor

 

 

MAJOR OPERATION

 

Manufacturers of pharmaceuticals, medicines and vitamins on a contract basis for companies who outsource the manufacturing of their branded goods.

 

 

MAJOR SUPPLIERS

 

The subject imports raw materials from France and deals locally with:

ROHDE & LIESENFELD Johannesburg

PROTEA CHEMICALS Johannesburg

CONSOL GLASS Johannesburg

BRITEPAK Johannesburg

CHEM

PURE Johannesburg

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

 

Pharmaceutical industry

 

AREA OF DISTRIBUTION AND SELLING

 

South Africa

 

 

EXPORTS

 

None

 

 

TOTAL EMPLOYEES

 

8 employees of which 20 are contractors

 

 

OTHER PREMISES

 

None

 

 

OWNED OR LEASED

 

The premises are reported to be owned by the associate property owning company

 

 

FINANCIALS

 

The following estimated financial situation was submitted as at September 2013:

STOCK                                     R 4 000 000

DEBTORS                                 R 3 000 000

CREDITORS fluctuates               R 2 000 000

LOANS                                     Nil

TURNOVER per annum             R33 000 000

 

AUDITORS

 

VENTER AND DE JAGER Pretoria +27 12 346 1043

 

 

YEAR END

 

FEBRUARY

INSURANCE BROKERS

 

REEF INSURANCE BROKERS COLUMBIA PHARMACEUTICALS (PTY) LTD Page 3 of 3

 

TRADE REFERENCES – AUGUST 2006

ACCOUNT        HIGHEST          AVERAGE         TERMS             PAYMENT         EXPERIENCE

OPENED           CREDIT            CREDIT                                    PATTERN

1.                    4 yrs                 R 90 000           R 4 000-            30 days             30 days             Good

c/l R                 12 000

2.                     Old acc             declined            declined            30 days             30 days             Good

3.                     Old acc             R1 000 000        R 800 000- 3      0 days              30 days             Very good

R1 000 000                                                        per annum

 

TRADE REFERENCES – NOVEMBER 2007

 

ACCOUNT        HIGHEST         AVERAGE         TERMS             PAYMENT         EXPERIENCE

OPENED           CREDIT            CREDIT                                    PATTERN

1.                     03/2006             declined            declined            7 days              7 days              Very good

2.                     Do not give trade references

3.                     6 yrs                 declined            R 40 000-          30 days             30 days             Very good

R 50 000

4.                     3 yrs                 open                 R 50 000-          30 days             30 days             Excellent

R100 000

 

TRADE REFERENCES – JANUARY 2009

ACCOUNT        HIGHEST          AVERAGE         TERMS             PAYMENT         EXPERIENCE

OPENED           CREDIT           CREDIT                                    PATTERN

1.                     3 years                         confidential        confidential        7 days              7 days              Good

2.                     April 2007          R 250 000         R 100 000         30 days             30 days             Good

c/l

3.                     10 years            R1 000 000        R 100 000-        30 days             30 days             Excellent

R1 000 000

 

CURRENT TRADE REFERENCES

ACCOUNT        HIGHEST          AVERAGE         TERMS             PAYMENT        EXPERIENCE

OPENED C        REDIT               CREDIT                                    PATTERN

1.                     2005                 R450 000          R 80 000-          30 days             30 days             Very good

R120 000

2.                     May 1998          Open Acc          R 60 000           30 days             30 days             Good

R500 000

3.                     2007                 R150 000          R 15 000-          30 days             30 days             Very good

R 20 000

 

COMMENTS

 

This is an established business meeting its commitments timeously.

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.23

UK Pound

1

Rs.102.14

Euro

1

Rs.84.64

 

INFORMATION DETAILS

 

Report Prepared by :

NNA

 

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.