MIRA INFORM REPORT

 

 

Report Date :

28.10.2013

 

IDENTIFICATION DETAILS

 

Name :

DIAMED AFRICA CC

 

 

Registered Office :

34 Bolton Road, Rosebank, 2196 P.O. Box 2884. Parklands 2121

 

 

Country :

South Africa

 

 

Date of Incorporation :

01.09.2004

 

 

Com. Reg. No.:

2004/088888/23

 

 

Legal Form :

Closed Corporation

 

 

Line of Business :

Manufacturer and distributor of life science research and clinical diagnostics products

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Merged

Payment Behaviour :

Unknown

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

NOTE :

 

According to the financial controller, DIAMED AFRICA CC no longer exist since October 2007 when BIO-RAD LABORATORIES bought the company.

The legal status of DIAMED AFRICA CC still reflects as active on CIPC

Further information was declined, the identity of the principal enquirer was also requested

 

 

Company name

 

Subject Name

DIAMED AFRICA CC

Country

South Africa

Account Review

Recommended Every 3 Months

Assessment

This is an established business. On investigation contact was made with the Financial controller, MRS. EBRAHIM. She has stated her concern that the request is on DIAMED AFRICA CC which was purchased by BIO RAD LABORATORIES in October 2007 as such she does not see why information should be divulged by the company. She also requested that the principal enquirer contact her directly. Further information was declined.

 

 

Company information

 

Registered Name

DIAMED AFRICA CC

Trading as/ Division Name

DIAMED-AFRICA

Previous Name

None

Date of Name Change

None

Registration Number

2004/088888/23

Registration Date

2004/09/01

Date Commenced Trading

2004-09-01

Age of Business

9 Years 1 Months

History of Business

DIAMED AFRICA CC was registered in 1989 and underwent a name change from DIAMED-AFRICA CC (1989/033801/23) to the current name in 2004. On October 2, 2007, BIO-RAD LABORATORIES, a multinational manufacturer and distributor of life science research and clinical diagnostics products, acquired DIAMED whose product line complements and expands Bio-Rad's existing business.

History of Principals

Unavailable

Shareholders/Members/Partners of subject and % holding

Unavailable

Authorised Share Capital

R 0.00

Issued Share Capital/Members Contribution

R 0.00

Status

In Business

Operations Assessment

Unavailable

Industry/ Customers

Unavailable

Major Industry Code / SICC

9000

Definition of Code

Other activities not adequately defined.

Head Office Physical Address

34 BOLTON ROAD, ROSEBANK, 2196

Head Office Postal Address

P.O. Box 2884. PARKLANDS 2121

Current Tel Number

0114428508

Cell Number

0823365966

Current Fax Number

0114428525

Current Email Address

Unavailable

Web Site Address

www.bio-rad.com

Comments

 

 

 

Auditors information

 

Company Registered Name

PIETER STEYN

Trading Name

Unavailable

Registration Number

Unavailable

Physical Address

Unavailable

Postal Address

38 BLENDE AVENUE, ROODEKRANS, ROODEPOORT, 1724

Contact Person

Unavailable

Contact Number

Unavailable

Email

Unavailable

Principals

 

Judgements Against Subject

Unavailable

Judgements Against Principals

Unavailable

Subject Verified as Client

No

Practice Number

00237619

VAT Number

Unavailable

Tax Number

Unavailable

BEE Status

Unavailable

Financial Year End

Unavailable

No of years in Business

Unavailable

Website

Unavailable

Comment

 

 

Previous Auditors Information - No Information on Record

 

Tax information

 

Vat Number

4780217057

Status

ACTIVE

Vat Liable Date

2004/12/01

Tax Number

9036604172

Tax Clearance Expire Date

 

Financial Year End

February

Comment

 

 

Black Economic Empowerment Information - No Information on Record

ISO Information - No Information on Record

Work Mans Information - No Information on Record

 

Company Structure

 

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

 

 

Management Overview

 

Organisational OChrgaartn i-saNtoioInfCohrmarattion on Record

 

 

Company Structure Information - No Information on Record

Note: One level up and all levels down

 

Key Deals - No Information on Record

 

Trade References Information - No Information on Record

 

 

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 Information - No Information on Record

Bank Code History - No Information on Record

Previous Bank Account Information - No Information on Record

Deeds Information - No information on record

 

 

Principals

 

Number of Principals

1

Average Age of Active Principals

45

Active Principals Principal - 1of 1 WAYNE PALOS

Surname

PALOS

First Name

WAYNE

Other Names

None

Marital Status

 

ID Number

6801265134085

Verified ID Number

Yes

Current Age

45 Years 9 Months

Designation

Unavailable

Status

Active

Appointment Date

2004/09/01

Physical Address (at time of Appointment)

8 FEROX DRIVE, GLENVISTA, 2091

Postal Address

P O BOX 1828, SOUTHDALE, 2135

Current Tel Number

0114325070

Cell number

0823365966

Shareholding/Membership

100 %

 

 

Principal's Adverse - No information on record

 

Business Information for WAYNE PALOS

 

Principal Current Business Interests

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

BETPHARMA CC

B1991/012139/23

In Business

22 Years 10 Months

0

No

 

DIAMED AFRICA CC

2004/088888/23

In Business

9 Years 9 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.61.63

UK Pound

1

Rs.99.94

Euro

1

Rs.85.14

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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.