MIRA INFORM REPORT

 

 

Report Date :

02.09.2013

 

IDENTIFICATION DETAILS

 

Name :

DELTA COLOURS (PTY)LTD

 

 

Registered Office :

71 Village Artisan, Cabriere Street, FRANSCHOEK, 7690

 

 

Country :

South Africa

 

 

Date of Incorporation :

09.03.2009

 

 

Com. Reg. No.:

M2009/004675/07

 

 

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 :

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

 

 

Subject Name

DELTA COLOURS (PTY)LTD

Country

South Africa

Subject Contact Person

CHARLENE SAAYAAAN - Financial

Assessment

This is an established business. On investigation contact was made with CHARLENE SAAYAAAN the financial manager who requested the questionnaire to be sent for completion. After numerous follow ups she requested more time to complete the questionnaire. Please see the available information on the subject below.

 

 

Company Information

 

Registered Name

DELTA COLOURS (PTY)LTD

Trading as/ Division Name

DELTA COLOURS

Previous Name

Unavailable

Date of Name Change

2009-05-13

Registration Number

M2009/004675/07

Registration Date

2009/03/09

Date Commenced Trading

2009-03-09

Age of Business

4 Years 5 Months

History of Business

The subject commenced trading as a new company in 2009.

History of Principals

There is currently 1 active director within the company.

Shareholders/Members/Partners of subject and % holding

Unavailable

Authorised Share Capital

R1000.00

Issued Share Capital/Members Contribution

R 120.00

Status

In Business

Operations Assessment

Suppliers of colour pigments

Industry/ Customers

All major manufacturers

Export

Unknown

Import

Unknown

Major Industry Code / SICC

33520

Definition of Code

Manufacture of paints, varnishes and coatings, printing ink and mastics

Head Office Physical Address

71 Village Artisan, Cabriere Street, FRANSCHOEK, 7690

Head Office Postal Address

PO Box 2255, FRANSCHOEK, 7690

Current Tel Number

0218764167

Cell Number

Unavailable

Current Fax Number

0218763201

Current Email Address

charlene. saayman@de Itacolo urs. com

Web Site Address

www.deltacolours.com

Comments

 

 

 

Auditors Information

 

Company Registered Name

BOSHOFF VISSER WES - KAAP INC

Trading Name

Unavailable

Registration Number

M2005/001331/21

Physical Address

26b Main Street, Grabouw, Western Cape, 7160

Postal Address

POSBUS 5530, TYGERVALLEI, 7536

Contact Person

WJ JONCK

Contact Number

0218592834

Email

Unavailable

Principals

3

Judgements Against Subject

None On Record

Judgements Against Principals

None On Record

Subject Verified as Client

Yes

Practice Number

Unavailable

VAT Number

Unavailable

Tax Number

9207929150

BEE Status

Unavailable

Financial Year End

Unavailable

No of years in Business

4 Years 4 Months

Website

Unavailable

Comment

 

 

Previous Auditors Information - No Information on Record

 

 

Tax Information

 

Vat Number

4750253306

Status

ACTIVE

Vat Liable Date

2009/07/01

Tax Number

9405656167

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 Chart - No Information 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

 

BusinessRescue - No Information on Record

 

Judgements - No information on record

 

Default Listing - No information on record

 

Notarial Bonds - No information on record

 

 

Deeds Information

 

Property Interests for CompanyDELTA COLOURS (PTY)LTD

 

Title Deed No.

T69162/2010

Erf/Site No.

 

Deeds Office

CAPE TOWN

Physical Address

71 CABRIERE FRANSCHHOEK FRANSCHHOEK

Property Type

Freehold

Extent / Size

350.0SQM

Purchase Date

2010/08/17

Purchase price

 

% Ownership

0.00

Bond Holder

FIRSTRAND BANK LTD

Bond Number

B374402010

Bond Amount

 

Comment

 

 

 

Principals

 

Number of Principals

1

Average Age of Active Principals

49

Active Principals Principal - 1of 1 STAPHANUS LOUW

Surname

LOUW

First Name

STAPHANUS

Other Names

None

Marital Status

 

ID Number

6406125118086

Verified ID Number

Yes

Current Age

49 Years 2 Months

Designation

Director

Status

Active

Appointment Date

2009/04/29

Physical Address (at time of Appointment)

DOMAINE DES ANGES, STELLENSCH, 7599

Postal Address

DOMAINE DES ANGES, STELLENSCH, 7599

Current Tel Number

0118867238

Cell number

0826589701

Shareholding/Membership

0.00

 

Principal's Adverse - No information on record

 

Business Information forSTAPHANUS LOUW Principal Current Business Interests

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

DELTA COLOURS (PTY) LTD

M2009/004675/07

In Business

4 Years 4 Months

0

No

 

MEAT OF ORIGIN KAROO

K2012/078056/08

In Business

1 Years 1 Months

0

No

 

NUBIOLA SOUTH AFRICA (PTY)LTD

M2006/020919/07

In Business

7 Years 7 Months

0

No

 

SAC LOUW

6406125118086

 

Unknown

0

No

 

 

Principal's Deeds Information - No information on record

 

Principal Previous Business Interests

 

Average Age of Previous Business        5 Years

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

EAT KAROO BUTCHERY CC

B2010/050797/23

In Business

3 Years 3 Months

0

No

 

SUMMERLANE TRADING 146 CC

B2006/184990/23

Deregistration Final

7 Years 7 Months

0

No

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.57

UK Pound

1

Rs.103.34

Euro

1

Rs.88.16

 

 

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%)

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.