|
Report Date : |
27.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
MARINDEC
PAINTS (PTY)LTD |
|
|
|
|
Registered Office : |
11 Fuchs
St, Alrode, Alberton, 1451 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
28.08.1998 |
|
|
|
|
Com. Reg. No.: |
M1998/012141/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacture of paints, varnishes and coatings, printing ink and mastics |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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. 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 |
MARINDEC
PAINTS (PTY)LTD |
|
Country |
South
Africa |
|
Subject
Contact Person |
GERTROOD
- 0119081056 |
|
Assessment |
On
investigation contact was made with the GERTROOD who assisted with the basic
information on the business. A questionnaire was requested for completion as
GERTROOD did not have all of the required information on hand. Please see the
available information on the subject below. |
|
Registered
Name |
MARINDEC
PAINTS (PTY)LTD |
|
Trading
as/ Division Name |
None |
|
Previous
Name |
Unavailable |
|
Date
of Name Change |
Aug
28 1998 12:00AM |
|
Registration
Number |
M1998/012141/07 |
|
Registration
Date |
1998/06/25 |
|
Date
Commenced Trading |
1998-06-25 |
|
Age
of Business |
14
Years 11 Months |
|
History
of Business |
The
subject was established as a new business in 1998 and operations commenced
immediately. The subject underwent a name change in August 1998. |
|
History
of Principals |
Unavailable |
|
Shareholders/Members/Partners
of subject and % holding |
50
% - KIRANKUMAR DAMODAR RAMJU ROSHANIA, 50 % - ASHWINKUMAR MATLAL MARGHBHAI
PATEL |
|
Authorised
Share Capital |
R1000.00 |
|
Issued
Share Capital/Members Contribution |
R
100.00 |
|
Status |
In
Business |
|
Operations
Assessment |
Paint
Manufacturers & Wholesalers |
|
Industry/
Customers |
The
general public and businesses |
|
Major
Industry Code / SICC |
33520 |
|
Definition
of Code |
Manufacture
of paints, varnishes and coatings, printing ink and mastics |
|
Head
Office Physical Address |
11
Fuchs St, Alrode, ALBERTON, 1451 |
|
Head
Office Postal Address |
P.O.Box
634, ALBERTON, 1450 |
|
Current
Tel Number |
0119081056 |
|
Current
Fax Number |
0119084828 |
|
Current
Email Address |
|
Company
Registered Name |
EKSTEEN
LOUW AND BADENHORST INC |
|
Trading
Name |
EL
AND B |
|
Registration
Number |
M1998/024871/21 |
|
Physical
Address |
34
WEBBER ROAD, GERMISTON SOUTH, 1401 |
|
Postal
Address |
P
0 BOX 988, GERMISTON, 1400 |
|
Contact
Person |
ARNO
LOUW |
|
Contact
Number |
0118274516 |
|
Email |
Unavailable |
|
Principals |
2 |
|
Judgements
Against Subject |
None
On Record |
|
Judgements
Against Principals |
None
On Record |
|
Subject
Verified as Client |
Yes |
|
Practice
Number |
923028E |
|
VAT
Number |
4280183262 |
|
Tax
Number |
9803027649 |
|
BEE
Status |
|
|
Financial
Year End |
December |
|
No
of years in Business |
9 |
|
Website |
None |
|
Comment |
|
Previous
Auditors
|
Company
Name |
Phone
Number |
Time
with previous auditors |
Comment |
|
BLOCK
EISENSTEIN |
|
15 |
|
|
Vat
Number |
4530175647 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
1998/06/25 |
|
Tax
Number |
9129027836 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
February |
|
Comment |
|
Black
Economic Empowerment Information - No Information on Record
ISO
Information - No Information on Record
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
|
Comment |
|
Subsidiaries
Information - No Information on Record
Employees
Information - No Information on Record
Company
Fleet Information - No Information on Record
Offices Information- No Information on Record
Branch
Information- No Information on Record
Organisation
Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
DIRECTOR |
KIRANKUMAR
DAMODAR RAMJU ROSHANA |
|
|
|
|||
|
1 |
DIRECTOR |
ASHWINKUAAAR
MATLAL MARGHBHAI PATEL |
|
Note: One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
50
% - KIRANKUAAAR DAMODAR RAMJU ROSHANIA |
MARINDEC
PAINTS (PTY) LTD |
|
|
|
50
% - ASHWINKUMAR MATLAL MARGHBHAI PATEL |
MARINDEC
PAINTS (PTY) LTD |
|
|
Key Deals -
No Information on Record
Trade
References Information - No Information on Record
BusinessRescue
- No Information on Record
Judgements -
No information on record
Default
Listing - No information on record
Notarial
Bonds - No information on record
Bank information - No information on record
Bank code History - No information on record
Previous Bank
account Information - No
information on record
Property
Interests for CompanyMARINDEC PAINTS (PTY)LTD
|
Title
Deed No. |
ST48330/2006 |
Erf/Site
No. |
600,0 |
|
Deeds
Office |
PRETORIA |
Physical
Address |
111
PRETORIA SANDOWN SANDTON |
|
Property
Type |
Sectional
Title |
Extent
/ Size |
239.0SQM |
|
Purchase
Date |
2005/12/09 |
Purchase
price |
|
|
%
Ownership |
0.00 |
Bond
Holder |
ABSA
BANK LTD |
|
Bond
Number |
SB615632006 |
Bond
Amount |
|
|
Comment |
|
||
|
Number
of Principals |
2 |
|
Average
Age of Active Principals |
59 |
|
Active
Principals Principal - 1of 2 KIRANKUMAR ROSHANIA |
|
|
Surname |
ROSHANIA |
|
First
Name |
KIRANKUMAR |
|
Other
Names |
DAMODAR
RAMJU |
|
Marital
Status |
|
|
ID
Number |
5511030000000 |
|
Verified
ID Number |
No |
|
Current
Age |
58 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment
Date |
1998/06/25 |
|
Physical
Address (at time of Appointment) |
1
BOERO PLACE, GLENVISTA, 2058 |
|
Postal
Address |
P
0 BOX 634, ALBERTON, 1450 |
|
Current
Tel Number |
0119081056 |
|
Cell
number |
|
|
Shareholding/Membership |
50% |
Principal's
Adverse - No information on record
Business
Information forKIRAN KUMAR ROSHANIA Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
CAPE
TO RIO PROPERTIES CC |
B2000/003938/23 |
In
Business |
13
Years 4 Months |
0 |
No |
|
|
UNIRESINS
(PTY) LTD |
M1996/012631/07 |
In
Business |
16
Years 8 Months |
0 |
No |
|
|
AAARINDEC
PAINTS (PTY) LTD |
M1998/012141/07 |
In
Business |
14
Years 11 Months |
0 |
No |
|
Principal's
Previous Business Interests - No information on record
Principal's
Deeds Information - No information on record
|
Principal
- 2of 2 ASHWINKUMAR PATEL |
|
|
Surname |
PATEL |
|
First
Name |
ASHWINKUMAR |
|
Other
Names |
MATLAL
MARGHBHAI |
|
Marital
Status |
|
|
ID
Number |
5301220000000 |
|
Verified
ID Number |
No |
|
Current
Age |
60 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment
Date |
1998/06/25 |
|
Physical
Address (at time of Appointment) |
PLOT
3B NSSF, MAISONETTE OF OLD KIRA ROAD, KAMPALA, UGANDA, 0000 |
|
Postal
Address |
P
O BOX 10356, KAMPALA, UGANDA, 0000 |
|
Current
Tel Number |
0119081056 |
|
Cell
number |
|
|
Shareholding/Membership |
50% |
Principal's
Adverse - No information on record
Business
Information forASHWINKUMAR PATEL Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
UNIRESINS
(PTY) LTD |
M1996/012631/07 |
In
Business |
16
Years 8 Months |
0 |
No |
|
|
AAARINDEC
PAINTS (PTY) LTD |
M1998/012141/07 |
In
Business |
14
Years 11 Months |
0 |
No |
|
Principal's
Previous Business Interests - No information on record
Principal's Deeds
Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.61 |
|
|
1 |
Rs.83.98 |
|
Euro |
1 |
Rs.71.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.