MIRA INFORM REPORT
|
Report Date : |
11.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAVANNAH FINE CHEMICALS (PTY) LTD |
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Registered Office : |
19 Boeing Road West, Morning Hill, Bedfordview, 2007 |
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Country : |
South Africa |
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Date of Incorporation : |
18.01.1990 |
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Com. Reg. No.: |
M1990/000227/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer of pharmaceuticals, medicinal chemical & botanical products |
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No. of Employees : |
73 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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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. 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.
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Source : CIA |
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Subject Name |
SAVANNAH FINE CHEMICALS (PTY)LTD |
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Country |
South Africa |
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Subject Contact Person |
NATALIA - Accounts |
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Assessment |
This is a well-established business. On investigation contact was made with NATALIA who assisted with the information on the subject. The company has been in operation for more than 23 years. A payment profile could not be compiled as the available suppliers do not provide trade references, alternate references could not be obtained. Please see the available information for the subject below. |
|
Registered Name |
SAVANNAH FINE CHEMICALS (PTY)LTD |
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Trading as/ Division Name |
SAVANNAH FINE CHEMICALS |
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Previous Name |
None |
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Date of Name Change |
None |
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Registration Number |
M1990/000227/07 |
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Registration Date |
1990/01/18 |
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Date Commenced Trading |
January 1990 |
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Age of Business |
23 Years 4 Months |
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History of Business |
SAVANNAH FINE CHEMICALS (PTY)LTD trading as SAVANNAH FINE CHEMICALS was
registered in January 1990 and operations commenced immediately |
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History of Principals |
There is one active director |
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Shareholders/Members/Partners of subject and % holding |
100 % - ROBIN BRIAN MITCHELL |
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Authorised Share Capital |
R1000.00 |
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Issued Share Capital/Members Contribution |
R 100.00 |
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Status |
In Business |
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Operations Assessment |
The company is involved in the importation and distribution of raw
materials. |
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Industry/ Customers |
Food, Pharmaceutical, Cosmetic, Nutritional
and Industrial sectors |
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Export |
Yes |
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Import |
Yes |
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Import Countries |
Germany, India |
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Major Industry Code / SICC |
33530 |
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Definition of Code |
Manufacture of pharmaceuticals, medicinal
chemical & botanical products |
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Head Office Physical Address |
19 Boeing Road West, Morning Hill, BEDFORDVIEW, 2007 |
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Head Office Postal Address |
P 0 BOX 75864, GARDENVIEW, 2047 |
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Current Tel Number |
0118564500 |
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Cell Number |
Undisclosed |
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Current Fax Number |
0118564599 |
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Current Email Address |
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Web Site Address |
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Company Registered Name |
PRICE WATERHOUSE COOPERS INCORPORATED |
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Trading Name |
PWC |
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Registration Number |
1998/012055/21 |
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Physical Address |
2 Eglin Road, SUNNINGHILL, 2157 |
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Postal Address |
Private BagX36, SUNNINGHILL, 2157 |
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Contact Person |
MOAAZA GATHOO |
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Contact Number |
0117974000 |
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Email |
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Principals |
249 |
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Judgements Against Subject |
None |
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Judgements Against Principals |
None |
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Subject Verified as Client |
Yes |
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Practice Number |
901121E |
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VAT Number |
4950174682 |
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Tax Number |
9343032844 |
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BEE Status |
Level 2 |
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Financial Year End |
June |
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No of years in Business |
11 |
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Website |
Previous Auditors
|
Company Name |
Phone Number |
Time with previous auditors |
Comment |
|
ERNST& YOUNG |
|
23 |
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Vat Number |
4660110034 |
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Status |
ACTIVE |
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Tax Number |
9538167843 |
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Financial Year End |
December |
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Status |
Yes |
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Score |
4.00 |
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BEE Certificate Available |
No |
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Comment |
Level 6 BEE contributor |
ISO Status
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Type of ISO Grade |
SABS ISO 9001 |
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ISO Certificate |
Yes |
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ISO Certificate Available |
No |
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Certified by an Accredited Agent |
Yes |
Workman's compensation
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Registered |
Yes |
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Compliance Certified |
Yes |
Subsidiaries Information - No Information on Record
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Employees |
||||
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Number of Employees |
73 |
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1. Salaried employees |
73 |
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2. Waged employees |
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3. Permanent employees |
73 |
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Company Fleet |
||||
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Company Fleet |
No of vehicles: |
Owned/Leased |
Value |
Outstanding Balance |
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Fleet Operations |
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The Fleet is made up of |
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Comment |
There are numerous vehicles registered in the name of the company. A
further breakdown was not made available. |
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Offices Information -
No Information on Record Branch Information
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Branches Names |
Country |
Province |
|
SAVANNAH FINE CHEMICALS
(PTY) LTD - Durban |
South Africa |
Kwa-Zulu Natal |
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Branch Detail Information |
||
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Branches Owned/ Rented |
Leased |
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Rental Company |
Undisclosed |
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Owned by |
Undisclosed |
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Comment |
Suite 1305, 13th Floor, Musgrave Towers, 115Musgrave Road, DURBAN |
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Organisation Chart
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Level |
Position |
Name |
Comment |
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1 |
Director |
ROBIN BRIAN MITCHELL |
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Company Structure (Ownership)
Note: One level up and all
levels down
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Holding |
Company |
Sub |
Comment |
|
100% - ROBIN
BRIAN MITCHELL |
SAVANNAH FINE CHEMICALS (PTY) LTD |
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Key Deals - No Information on Record
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Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
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1 |
3MSA |
011 8062000 |
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3 |
CLOVER |
0317193111 |
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2 |
INGRAM HEALTH CARE |
0116350000 |
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Trade References Detail
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Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
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1 |
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No record of account |
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3 |
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Against company
policy to provide trade references |
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2 |
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Against company
policy to provide trade references |
Judgements
|
Judgements |
None |
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Possible Judgements |
None |
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Civil Court |
None |
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RDs |
None |
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Comment |
No Information on Record |
Business Rescue
|
Date registered |
Business rescue practitioner |
Contact Information |
Details |
Comment |
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There is no information
found on file |
No Information on Record |
No Information
on Record |
No Information on Record |
Default Listings
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Date |
Details |
Comment |
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No information found on file |
No Information on Record |
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Notarial Bonds |
||
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Date |
Details |
Comment |
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No information found on file |
No Information on Record |
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Bank |
ABSA |
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Branch |
SANDTON CORPORATE |
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Brach Code |
632005 |
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Bank Account Number |
4073959969 |
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Type of Account |
Cheque Account |
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Account Name |
SAVANNAH FINE CHEMICALS (PTY) LTD |
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Bank Code |
C for 5 000 000 over 30 days |
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Bank Comment |
The subject's bankers consider them good for all business normal
engagements |
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Bank Codes History |
|||||||||
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Date requested |
Bank Code |
Enquiry Amount |
Number of RD's |
RD amount |
RD Date |
Bank Comments |
Years with bank |
Comment |
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|
2012/07/27 |
C |
R 5000000.00 |
0 |
R0.00 |
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The subject's
bankers consider them as equal to their
normal business engagements |
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Previous Bank Account
Information - No Information on Record
Deeds Information - No information on record
Financial
Estimates
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CURRENT ASSETS |
R150000000.00 |
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FIXED ASSETS |
R 4000000.00 |
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CURRENT LIABILITIES |
R 62000000.00 |
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Estimated Current Year Turnover |
R 360000000.00 |
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Current Turnover per month |
R 25000000.00 |
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Current Turnover per annum |
R 300000000.00 |
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Comment |
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Please note the following: |
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Turnover and assets less than R
1,000,000.00 |
The subject falls within the National Credit Act |
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Turnover and assets less than R
2,000,000.00 |
The subject falls within the Consumer Protection Act |
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Number of Principals |
1 |
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Average Age of Active Principals |
67 |
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Active
Principals Principal - 1of 1 ROBIN MITCHELL |
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Surname |
MITCHELL |
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First Name |
ROBIN |
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Other Names |
BRIAN |
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Marital Status |
Married |
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ID Number |
4610215044001 |
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Verified ID Number |
Yes |
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Current Age |
67 |
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Designation |
Director |
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Status |
Active |
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Physical Address (at time of Appointment) |
344 6TH CLOSE, MUSWELL ROAD, BRYANSTON, 2194 |
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Postal Address |
P.O BOX 98781, SLOANE PARK, 2152 |
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Current Tel Number |
0117065027 |
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Cell number |
1447064882 |
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Shareholding/Membership |
100% |
Principal's
Adverse - No information on record
Business Information
for ROBIN MITCHELL
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
SAVANNAH FINE CHEMICALS (PTY) LTD |
M1990/000227/07 |
In Business |
23 Years 4 Months |
0 |
No |
|
|
19 KLOOF ROAD BEDFORDVIEW (PTY) LTD |
M1992/000231/07 |
In Business |
21 Years 4 Months |
0 |
No |
|
|
GRAYSTON TRAVEL (PTY) LTD |
M1995/009314/07 |
In Business |
17 Years 8 Months |
0 |
No |
|
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GREEN WILLOWS PROPERTIES 156 (PTY) LTD |
M2005/020465/07 |
In Business |
7 Years 11 Months |
0 |
No |
|
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EXCLUSIVE ACCESS
TRADING 343 (PTY) LTD |
M2005/030368/07 |
In Business |
7 Years 9 Months |
0 |
No |
|
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MORNINGHILL OFFICE PARK (PTY) LTD |
M2005/037894/07 |
In Business |
7 Years 7 Months |
0 |
No |
|
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EXPRESS DUCTS (PTY) LTD |
M2005/041351/07 |
In Business |
7 Years 6 Months |
0 |
No |
|
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FINSBURY CHARTWELL INVESTMENTS (PTY) LTD |
M2005/043705/07 |
In Business |
7 Years 5 Months |
0 |
No |
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Principal Previous Business Interests
Average Age of Previous Business 19 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|||
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SHEERPROPS 1030 CC |
B1997/034209/23 |
Deregistration Final |
15 Years 10 Months |
0 |
No |
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SAVANNAH ENGINEERING (PTY) LTD |
M1981/004955/07 |
In Liquidation |
32 Years |
0 |
Yes |
|
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SAVANNAH ENGINEERING
(NATAL) (PTY) LTD |
M1985/002281/07 |
Voluntary Liquidation |
28 Years |
0 |
Yes |
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AIR SAVANNAH (PTY) LTD |
M1987/060056/07 |
Deregistration Final |
26 Years 2 Months |
0 |
No |
|
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SAVANNAH ENGINEERING (2000) (PTY) LTD |
M1990/001047/07 |
Deregistration Final |
23 Years 3 Months |
0 |
No |
|
|||
|
SAVANNAH AIR (PTY) LTD |
M1990/001258/07 |
Dissolved |
23 Years 2 Months |
0 |
No |
|
|||
|
ROTHOLA REFRIGERATION (PTY) LTD |
M1997/003076/07 |
Deregistration Final |
16 Years 2 Months |
0 |
No |
|
|||
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344 BRYANSTON PROPERTIES (PTY)LTD |
M1999/020399/07 |
Deregistration Final |
13 Years 8 Months |
0 |
No |
|
|||
|
ERF 1746 MONTAQUE GARDENS (PTY)LTD |
M1999/021341/07 |
Deregistration Final |
13 Years 8 Months |
0 |
No |
|
|||
|
FINISHING TOUCH TRADING 225 (PTY) LTD |
M2005/032329/07 |
Deregistration Final |
7 Years 8 Months |
0 |
No |
|
|||
Principal's Deeds
Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.54 |
|
UK Pound |
1 |
Rs.84.19 |
|
Euro |
1 |
Rs.71.11 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.