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Report Date : |
17.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
BIDVEST PAPERPLUS PTY LTD |
|
|
|
|
Registered Office : |
20 Georgian Crescent, Lithotech House, Hampton Park, 2152
Bryanston East, Gauteng |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Financials (as on) : |
30.06.2013 |
|
|
|
|
Date of Incorporation : |
27.10.1969 |
|
|
|
|
Legal Form : |
Limited Liability
Company |
|
|
|
|
Line of Business : |
Manufacture of paper and paperboard |
|
|
|
|
No. of Employees : |
4,000 |
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 |
BIDVEST PAPERPLUS PTY LTD
ADDRESSES:
Main Address: 20 Georgian
Crescent, Lithotech House, Hampton Park
Zip code/City: 2152 Bryanston
East, Gauteng, South Africa
Telephone: +27 11 706
6751
Fax: +27
11 463 7175
Postal address: Private Bag X92
Zip code/City: 2021 Bryanston,
Gauteng, South Africa
Web site: http://www.bidpaperplus.co.za/
WIN Worldbox No.: ZA0000069131
Profile
Established: 1969
Line of Business: Paper/cardboard
Industry Division: Manufacturing
Industry-code (NACE): 1712 Manufacture of paper and
paperboard
Banks: The
Standard Bank of South Africa Limited
Nedbank
Limited
ABSA
Bank
Employees: 4,000
CNPJ: -
NEGATIVE
INFORMATION
Public
information:
-
State Register: 1971/002971
Legal form: Limited
Liability Company
Incorporation date: 27.10.1969
Balance sheet filing date: -
Tax Contributor Number (CNPJ): -
Legal status: active
Responsible Register: State Register of South Africa
Entry Deleted Name
active Bidvest paperplus PTY
Ltd
Entry Deleted Address
active 18 Crescent Drive,
2nd Floor Bidvest House, 2076 Melrose Arch, South Africa/ZA
Import
and Export:
-
Payment
history:
No complaints on record.
Owners/-s:
Class: 100%
Name: The Bidvest Group Limited
City/Country: Johannesburg,
South Africa/ZA
Interest: 100,00% voting right, 100,00%
capital interest
Financial
Data The Bidvest Group Limited
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 30.06.2013 30.06.2012 30.06.2011
Number of months: 12 12 12
Currency: th.
ZAR th. ZAR th. ZAR
Intangible fixed assets 9,879,741.0 8,310,954.0 7,026,930.0
Tangible fixed assets 13,872,872.0 12,445,541.0 11,603,183.0
Financial fixed assets 3,707,785.0 2,978,999.0 1,749,577.0
other fixed assets 1,360,159.0 1,021,046.0 1,480,546.0
Fixed assets 28,820,557.0 24,756,540.0 21,860,236.0
Stocks 11,839,302.0 10,248,120.0 8,750,609.0
Trade accounts receivable 15,926,124.0 13,535,245.0 11,564,155.0
Liquid assets 8,452,559.0 5,871,306.0 4,437,268.0
other trade accounts 1,639,877.0 1,483,935.0 1,217,650.0
Other current assets 10,092,436.0 7,355,241.0 5,654,918.0
Current assets 37,857,862.0 31,138,606.0 25,969,682.0
Total assets 66,678,419.0 55,895,146.0 47,829,918.0
Capital 16,387.0 16,387.0
Other shareholders funds 26,357,205.0 21,613,767.0
Total shareholders equity 26,373,592.0 21,630,154.0 17,669,264.0
Minority interests 1,177,127.0 969,299.0 787,728.0
long term debt (financial debts) 7,469,635.0 4,039,858.0 4,391,429.0
Provisions 371,353.0 340,289.0 272,400.0
Other non currentliabilities 1,096,331.0 1,118,059.0 1,105,282.0
Non currentliabilities 8,937,319.0 5,498,206.0 5,769,111.0
short term debt (financial debts) 7,554,532.0 7,128,561.0 6,352,005.0
Trade accounts payable 21,858,775.0 20,001,100.0 16,812,487.0
Provisions 363,136.0 308,261.0 237,471.0
other accounts payable 413,938.0 359,565.0 201,852.0
other current liabilities 777,074.0 667,826.0 439,323.0
Current liabilities 30,190,381.0 27,797,487.0 23,603,815.0
Shareh. equity, min. interests + liabilities 66,678,419.0 55,895,146.0 47,829,918.0
Sales 153,404,532.0 133,533,633.0
Net sales 153,404,532.0 133,533,633.0 118,482,736.0
Other operating revenue 800,817.0 1,045,158.0 451,623.0
Operating revenue 154,205,349.0 134,578,791.0 118,934,359.0
Cost of goods sold 123,039,972.0 106,241,730.0 93,930,778.0
Gross profit 31,165,377.0 28,337,061.0 25,003,581.0
Other operating expenses 23,606,807.0 21,075,238.0 19,155,670.0
Operating result 7,558,570.0 7,261,823.0 5,847,911.0
other financial revenues 2,040,517.0 1,225,856.0 168,322.0
Financial income 2,040,517.0 1,225,856.0 168,322.0
other financial expenses 893,502.0 906,190.0 713,915.0
Financial expenses 893,502.0 906,190.0 713,915.0
Financial result 1,147,015.0 319,666.0 -545,593.0
Result before extraordinary items 8,705,585.0 7,581,489.0 5,302,318.0
Result before taxes 8,705,585.0 7,581,489.0 5,302,318.0
Taxes 1,783,782.0 1,695,458.0 1,528,169.0
Result before minority interests 6,921,803.0 5,886,031.0 3,774,149.0
minority interests 300,343.0 305,201.0 235,401.0
Result for the financial year 6,621,460.0 5,580,830.0 3,538,748.0
Depreciation 2,097,264.0 2,001,864.0 1,811,698.0
Cash flow 9,019,067.0 7,887,895.0 5,585,847.0
Cash flow from operating activities 2,666,069.0 4,577,878.0 4,466,468.0
Investments in tangible fixed assets 2,201,338.0 1,812,785.0 2,325,231.0
Cash flow from investing activities -3,168,357.0 -3,151,751.0 -3,853,284.0
Cash flow from financing activities 2,459,971.0 165,521.0 -735,423.0
Others 519,014.0 214,767.0 25,829.0
Change in liquidity 2,476,697.0 1,806,415.0 -96,410.0
Liquidity at beginning of the year 4,615,458.0 2,809,043.0 2,905,453.0
Liquidity at end ot the year 7,092,155.0 4,615,458.0 2,809,043.0
Notes
Material costs 123,039,972.0 106,241,730.0
Added value 10,802,849.0 9,583,353.0 7,114,016.0
Working Capital 5,906,651.0 3,782,265.0 3,502,277.0
Gross cost total 0.0 0.0
Financial
information:
There are no accounts available.
For completeness sake we include the group figures of the parent company, in which
the figures of subject matter are fully consolidated.
Some key figures of subject matter itself:
Turnover:
2011/2012: ZAR 3.858.146.000,-
2012/2013: ZAR 4.031.330.000,-
Trading result:
2011/2012: ZAR 281.292.000,-
2012/2013: ZAR 328.140.000,-
As per this annual report:
General print contraction continued necessitating further
rationalisation. Lithotech exports put in a strong final quarter performance
benefitting from project work. LithotechAfric Mail and Email Connection were
combined into a new sub-division, Bidvest Data to offer customers a
multi-channel service. Packaging and labels were separated into distinct
sub-divisions to enable greater management focus. Lufil had a good year.
Masterpack, a folding carton producer, was acquired and will give critical mass
to Sprint Manufacturing. Labels disappointed, impacted by retail market
contraction. Silveray Stationery Company’s sales and trading margins declined.
Kolok performed strongly as management traded aggressively in a competitive
market.
Exchange
rate:
US$
1,00 =
ZAR 9,98169 - Official rate on 11.09.2013
Main
Activities:
The company is engaged in the manufacture, supply and distribution
of printed products, personalized communications, labels and packaging
products.
The company is divided into four sub-divisions, being Print &
Related Services, Customer Communications, Packaging& Label Products and
Scholastic & Office products.
Operations & branches:
At the Lithotech House, Hampton Park, 20 Georgian Crescent,
Bryanston East 2152 Gauteng we find the headquarters.
At the 2nd Floor Bidvest House, 18 Crescent Drive, Melrose Arch
2076 the statutory seat.
At the Bofors Circle, Epping 2, 7460 Cape Town a branch.
Staff:
4,000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.62.48 |
|
UK Pound |
1 |
Rs.99.66 |
|
Euro |
1 |
Rs.83.49 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.