|
Report Date : |
11.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
CAPE
PRODUCE COMPANY (PTY)LTD |
|
|
|
|
Registered Office : |
113
Graham Town Road, North End, Port Elizabeth, 6001 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
11.09.1937 |
|
|
|
|
Com. Reg. No.: |
M1937/010149/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Purchase
of the finest Cattle Hides and Sheep Skins and production of tanned leather. |
|
|
|
|
No. of Employees : |
230 |
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 : |
Usually Correct |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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; 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 Unemployment remains high and outdated infrastructure has constrained growth.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 |
CAPE
PRODUCE COMPANY (PTY)LTD |
|
Country |
South
Africa |
|
Account
Review |
Recommended
Every 6 Months |
|
Subject
Contact Person |
DON
WATSON - 0414844591 |
|
Assessment |
This is a
large and well established business. On investigation contact was made with
DON WATSON who assisted with all the required information on the subject. The
subject's suppliers require more time to provide a trade reference. We await
a bank code. Please see the available information on the subject below. |
|
Registered
Name |
CAPE
PRODUCE COMPANY (PTY)LTD |
|
Trading
as/ Division Name |
CPC |
|
Previous
Name |
None |
|
Date of
Name Change |
|
|
Registration
Number |
M1937/010149/07 |
|
Registration
Date |
1937/09/11 |
|
Date
Commenced Trading |
1937-09-11 |
|
Age of
Business |
75 Years
5 Months |
|
History
of Business |
The
Company purchases the finest bovine hides and sheep skins from all over South
Africa and surrounding countries. The hides are either - properly drumsalted
and carefully graded ready for export - or selected for further processing
after an initial sort. The hides are wetblued and, if required, split in the
blue before being graded, weighed and assembled ready for sale as whole
hides, grain splits or drop splits. The skins are pickled and carefully
graded ready for sale. |
|
History
of Principals |
CAPE
PRODUCE COMPANY (CPC) is a family owned business established in 1937. It is
located in Port Elizabeth, Eastern Cape, South Africa. The company employs
more than 230 people at its factory in Markman Township. Headed by the CEO,
MR. BENJAMIN LAPINER, the company has a strong team with years of experience. |
|
Shareholders/Members/Partners
of subject and % holding |
100 % -
BENJAMIN LAPINER |
|
Authorised
Share Capital |
R1000.00 |
|
Issued
Share Capital/Members Contribution |
R 100.00 |
|
Status |
In
Business |
|
Operations
Assessment |
Purchase
of the finest Cattle Hides and Sheep Skins and production of tanned leather. |
|
Industry/
Customers |
Leather
works, the subject operates throughout South Africa, Europe and Asia |
|
Export |
Yes |
|
Export
Countries |
China,India |
|
Import |
Yes |
|
Import Countries |
|
|
Major
Industry Code / SICC |
31610 |
|
Definition
of Code |
Tanning
and dressing of leather |
|
Head
Office Physical Address |
113
GRAHAM TOWN ROAD, NORTH END, PORT ELIZABETH, 6001 |
|
Head
Office Postal Address |
P O BOX
278, PORT ELIZABETH, 6000 |
|
Current
Tel Number |
0414844591 |
|
Cell
Number |
0824583191 |
|
Current
Fax Number |
0414846575 |
|
Current
Email Address |
|
|
Web Site
Address |
|
|
Comments |
The
subject imports from neighboring countries and exports throughout Europe and
Asia. |
|
Company
Registered Name |
MAZARS FINANCIAL
SERVICES (CAPE TOWN) (PTY)LTD |
|
Trading
Name |
MAZARS |
|
Registration
Number |
M1995/008755/07 |
|
Physical
Address |
MAZARS
HOUSE, RIALTO ROAD, GRAND MOORINGS PRECINCT, CENTURY CITY, 7441 |
|
Postal
Address |
P O BOX
134, CENTURY CITY, 7446 |
|
Contact
Person |
MANSOOR
SALEE |
|
Contact
Number |
0218185000 |
|
Email |
|
|
Principals |
4 |
|
Judgements
Against Subject |
None |
|
Judgements
Against Principals |
None |
|
Subject
Verified as Client |
Yes |
|
Practice
Number |
900222 |
|
VAT
Number |
4680155886 |
|
Tax
Number |
9681229036 |
|
BEE
Status |
|
|
Financial
Year End |
August |
|
No of
years in Business |
3 |
|
Website |
|
|
Comment |
|
Previous
Auditors
|
Company Name |
Phone
Number |
Time
with previous auditors |
Comment |
|
MOORES
ROWOLAND |
|
18 |
|
|
KESEL
FEINSTEIN |
|
22 |
|
|
MOZARS
MOORES ROWLAND |
|
6 |
|
|
Vat
Number |
4450113073 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
1991/09/30 |
|
Tax
Number |
940001716 |
|
Tax
Clearance Expire Date |
2014/02/28 |
|
Financial
Year End |
June |
|
Comment |
|
|
Black
Economic Empowerment |
|
|
Status |
No |
|
Score |
|
|
Expire
Date |
|
|
BEE
Certificate Available |
|
|
Comment |
The subject
is not registered for BEE |
ISO
Information - No Information on Record
Workman's
compensation
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
|
Comment |
|
Subsidiaries
Information - No Information on Record
Employees
|
Number
of Employees |
230 |
|||
|
1.
Salaried employees |
30 |
|||
|
2. Waged
employees |
200 |
|||
|
3.
Permanent employees |
|
|||
|
4.
Casual employees |
|
|||
|
5.
Contracted employees |
|
|||
|
Comment |
|
|||
|
Company
Fleet |
||||
|
Company Fleet |
No of
vehicles: |
Ownerd/Leased |
Value |
Outstanding
Balance |
|
Fleet
Operations |
|
|||
|
The
Fleet is made up of |
12 |
|||
|
Comment |
|
Values
were not made available |
|
|
|
Cars |
8 |
Owned |
|
|
|
Light
delivery Vehicles |
3 |
Owned |
|
|
|
Trucks |
1 |
Owned |
|
|
|
Offices |
Offices |
|
Head
Office Owned/ Rented |
Owned |
|
Rental
Company |
|
|
Owned by |
BENJAMIN
LAPINER |
|
Value |
|
|
Bond |
|
|
Bank |
|
|
Lease
Agreement |
|
|
Lease
Expire Date |
|
|
Type of
Premises |
OFFICE |
|
Comment |
|
Branch
Information - No Information on Record
Organisation
Chart
|
Level |
Position |
Name |
Comment |
1 I DIRECTOR I BENJAMIN
Company
Structure (Ownership)
Note: One
level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
100 % -
BENJAMIN LAPINER |
CAPE
PRODUCE COMPANY (PTY) LTD |
|
|
Key Deals
- No Information on Record
|
Trade
Reference nr |
Supplier |
Contact |
Surety
Value |
Notarial
Bonds |
Comment |
|
1 |
INDUSTRIA
SAFETY PRODUCT |
0415810160 |
|
|
|
|
2 |
STEEL
TUBE |
0415810160 |
|
|
|
|
3 |
ANDERSON
TRANSPORT |
0218642222 |
|
|
|
Trade
References Detail
|
Nr |
Age of
Acc |
Credit
Limit |
Max
Credit |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
|
1 |
15 Years |
R 0.00 |
R 9000 |
30 Days |
R 2800 |
30 Days |
Good
Account - No Credit Limit. |
|
2 |
|
|
|
|
|
|
The
supplier declined to provide a trade reference |
|
3 |
|
|
|
|
|
|
The supplier
declined to provide a trade reference |
Adverse
Information on Subject
Judgements
- No information on record
BusinessRescue
- No Information on Record
Default
Listing - No information on record
Notarial
Bonds - No information on record
|
Bank |
NEDBANK |
|
Branch |
PORT
ELIZABETH |
|
Brach
Code |
198765 |
|
Bank
Account Number |
1212001869 |
|
Type of
Account |
CURRENT |
|
Account
Name |
CAPE
PRODUCE COMPANY (PTY) LTD |
|
Overdraft
Facilities |
YES FOR
R 40 000 |
|
Bank
Code |
|
|
Bank
Comment |
|
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 |
|
|
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 |
R
6000000000.00 |
|
Current
Turnover per month |
R
500000000.00 |
|
Current
Turnover per annum |
|
|
Comment |
|
|
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 |
|
Number
of Principals |
1 |
|
Average
Age of Active Principals |
64 |
|
Active Principals Principal
- 1of 1 BENJAMIN LAPINER |
|
|
Surname |
LAPINER |
|
First
Name |
BENJAMIN |
|
Other
Names |
NONE |
|
Marital
Status |
Married |
|
ID
Number |
4908145002002 |
|
Verified
ID Number |
Yes |
|
Current
Age |
64 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment
Date |
1982/03/15 |
|
Physical
Address (at time of Appointment) |
THE
PRESIDENT, BEACH ROAD, BANTRY BAY, 8005 |
|
Postal
Address |
THE
PRESIDENT, BEACH ROAD, BANTRY BAY, 8005 |
|
Current
Tel Number |
0484844591 |
|
Cell
number |
0824583191 |
|
Shareholding/Membership |
100% |
Principal's
Adverse - No information on record
Business
Information forBENJAMIN LAPINER
Principal
Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
F D P KOMMERSIELE
BELEGGINGS NO 8 CC |
B1994/038407/23 |
In
Business |
19 Years
7 Months |
0 |
No |
|
|
CAPE
PRODUCE COMPANY (PTY)LTD |
M1937/010149/07 |
In
Business |
76 Years
4 Months |
0 |
No |
|
|
CROSSING
ESTATE (PTY)LTD |
M1937/010151/07 |
In
Business |
76 Years
4 Months |
0 |
No |
|
|
SWARTLAND
HUIDE EN VELLE (PTY)LTD |
M1979/006254/07 |
In
Business |
34 Years
10 Months |
0 |
No |
|
Principal
Previous Business Interest
Average
Age of Previous Business I 36 Years
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
JILLIANS INVESTMENTS (PTY)LTD |
M1953/001194/07 |
Deregistration
Final |
|
0 |
No |
|
|
RANELLE INVESTMENTS
(S A) (PTY)LTD |
M1957/004102/07 |
Deregistration
Final |
56 Years
8 Months |
0 |
No |
|
|
PELTS
PRODUCTS (PTY)LTD |
M1958/001161/07 |
Deregistration
Final |
55 Years
7 Months |
0 |
No |
|
|
RANLAP
(PTY)LTD |
M1960/002535/07 |
Deregistration
Final |
53 Years
5 Months |
0 |
No |
|
|
CAPE
PRODUCE COMPANY (CAPE TOWN) (PTY)LTD |
M1960/003499/07 |
Deregistration
Final |
53 Years
5 Months |
0 |
No |
|
|
CAPE
PRODUCE COMPANY (EAST LONDON) (PTY)LTD |
M1960/003500/07 |
Deregistration
Final |
53 Years
5 Months |
0 |
No |
|
|
CAPE PRODUCE
WOOL COMPANY (PORT ELIZABETH) (PTY)LTD |
M1960/003501/07 |
Deregistration
Final |
53 Years
5 Months |
0 |
No |
|
|
CAPE
PRODUCE COMPANY (PORT ELIZABETH) (PTY)LTD |
M1960/003502/07 |
Deregistration
Final |
53 Years
5 Months |
0 |
No |
|
|
SPARK STREET
PROPERTY (PTY)LTD |
M1963/003214/07 |
Deregistration
Final |
50 Years
2 Months |
0 |
No |
|
|
ALLIED
PELT BY-PRODUCTS /n-rv\i -rri |
M1965/001174/07 |
Deregistration
Final |
|
0 |
No |
|
|
GARNETT
R VIRR HIDES AND SKINS (PTY)LTD |
M1967/003630/07 |
Deregistration
Final |
46 Years
10 Months |
0 |
No |
|
|
GARNETT
R VIRR WOOL (PTY)LTD |
M1967/003631/07 |
Deregistration
Final |
46 Years
10 Months |
0 |
No |
|
|
PICKLED
EXPORTS (PTY)LTD |
M1967/004379/07 |
Deregistration
Final |
46 Years
10 Months |
0 |
No |
|
|
SOUTH
AFRICAN WOOL HIDE AND SKIN (EXPORTS) (PTY)LTD |
M1967/004415/07 |
Deregistration
Final |
46 Years
10 Months |
0 |
No |
|
|
PATRONEL INVESTMENTS (PTY)LTD |
M1971/006568/07 |
Deregistration
Final |
42 Years
6 Months |
0 |
No |
|
|
EAST
CAPE TRADERS (PTY)LTD |
M1973/009942/07 |
Deregistration
Final |
40 Years
4 Months |
0 |
No |
|
|
SECOND
GIRL INVESTMENTS (PTY)LTD |
M1976/000443/07 |
Deregistration
Final |
37 Years
1 Months |
0 |
No |
|
|
ONE BOY INVESTMENTS (PTY)LTD |
M1976/000444/07 |
Deregistration
Final |
37 Years
1 Months |
0 |
No |
|
|
ONE GIRL INVESTMENTS (PTY)LTD |
M1976/000472/07 |
Deregistration
Final |
37 Years
1 Months |
0 |
No |
|
|
PATLAPINVESTMENTS
(PTY)LTD |
M1976/000791/07 |
Deregistration
Final |
37 Years
1 Months |
0 |
No |
|
|
ELEL
INVESTMENTS (PTY)LTD |
M1980/004454/07 |
Deregistration
Final |
33 Years
9 Months |
0 |
No |
|
|
BE-E1
INVESTMENTS (PTY)LTD |
M1987/002307/07 |
Deregistration
Final |
26 Years
2 Months |
0 |
No |
|
|
HELDERKRUIN
MEAT MARKET (PTY)LTD |
M1989/007007/07 |
Deregistration
Final |
|
0 |
No |
|
|
SWARICO-AFSLAERS
(PTY)LTD |
M1995/001127/07 |
Deregistration
Final |
18 Years
6 Months |
0 |
No |
|
|
BENLAPINVESTMENTS
(PTY)LTD |
M2001/007888/07 |
Deregistration
Final |
|
0 |
No |
|
Principal's
Deeds Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.84.25 |
|
Euro |
1 |
Rs.71.79 |
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.