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Report Date : |
20.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
SIYEZA FINE CHEM
(PTY) LTD. |
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|
|
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Registered Office : |
7, Bessemer street,,
Amalgam 2092 Johannesburg, Gauteng, South Africa P.O. Box 39383 2016
Booysens, Gauteng |
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|
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Country : |
South Africa |
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Date of Incorporation : |
15.10.2008 |
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|
|
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Com. Reg. No.: |
2008/024524 |
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|
|
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Legal Form : |
Limited Liability
Company |
|
|
|
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Line of Business : |
Import and
distribution of pharmaceuticals and fine chemicals. |
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|
|
|
No. of Employees : |
22 |
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 |
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Payment Behaviour : |
Unknown |
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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 |
|
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
Siyeza Fine Chem
(Pty) Ltd.
Main Address: 7, Bessemer street,, Amalgam
Zip code/City: 2092 Johannesburg, Gauteng, South
Africa
Telephone: +27 11 830 0334
Fax: +27 11 830 0334
Postal address: `, P.O.
Box 39383
Zip code/City: 2016 Booysens, Gauteng, South
Africa
E-mail: sungie@siyezafine.co.za
WIN Worldbox No.: ZA0000039885
Profile
Established: 2006
Line of Business: Consumer goods wholesale
Industry Division: Wholesale trade
Industry-code
(NACE): 4675 Wholesale of chemical
products
4646
Wholesale of pharmaceutical goods
Banks: First National Bank
Employees: 22
Board of Directors:
Director SungieMoodley ,
Registered since: 15.10.2008
Public
information:
-
State Register: 2008/024524
Legal form: Limited Liability
Company
Incorporation date: 15.10.2008
Balance sheet filing
date: -
Tax Contributor
Number (CNPJ): -
Legal status: active
Responsible
Register: State Register of
South Africa
Entry Deleted Address
active At
the 159 Eloff Street, Extension, Selby, 2001 Johannesburg, Gauteng, South
Africa/ZA
Import and
Export:
Import
Payment history:
No complaints on
record.
GROUP STRUCTURE & AFFILIATED COMPANIES
Owners/-s:
As far as we could gather
is Mr.Moodley also the main shareholder.
Financial
information:
The company is not
required to file accounts.
Exchange rate:
Main Activities:
The company is
engaged in the import and distribution of pharmaceuticals and fine chemicals.
Import; Europe,
India and PR China
Operations &
Branches:
At the 7, Bessemer
street, Amalgam, Johannesburg 2092 we find the seat of operations.
At the 159 Eloff Street,
Extension, Selby, Johannesburg 2001 we find the registered address.
Staff:
22
Company's Background:
As per own
statement, the company recently moved to the current address; the bankers were also
recently changed from Nedbank to First National Bank.
The operations first
commenced in 2006 in the form of a Close Corporation; as per 15/10/2008 the
legal form was converted to the current one.
The company does not
yet have a website.
We spoke with
Mr.Moodley who confirmed various details of this report. We have also mailed
him for further financial details. Should we receive an answer, then we will
send you an update.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.99.56 |
|
Euro |
1 |
Rs.83.55 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.