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Report Date : |
02.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
KERRY INGREDIENTS |
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Formerly Known As : |
KERRY BIOSCIENCE |
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Registered Office : |
268 Fleming Road, Meadowdale,
1609 PO BOX 597, Isando, 1600 |
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Country : |
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Date of Incorporation : |
15.01.2004 |
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Com. Reg. No.: |
M2004/000621/07 |
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Legal Form : |
Private Company |
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Line of Business : |
·
Manufacture
flavours for meats, soups, sauces, dressings and savoury snacks · Manufacture of spices condiments vinegar yeast & other food products |
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|
|
|
No. of Employees |
130 |
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 |
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Payment Behaviour : |
No complaints |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
South Africa |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 16th largest in the world. Even though the country's modern infrastructure supports a relatively efficient distribution of goods to major urban centers throughout the region, unstable electricity supplies retard growth. The global financial crisis reduced commodity prices and world demand. GDP fell nearly 2% in 2009 but has recovered since then, albeit slowly with 2014 growth projected at about 2%. Unemployment, poverty, and inequality - among the highest in the world - remain a challenge. Official unemployment is at nearly 25% of the work force, and runs significantly higher among black youth. Eskom, the state-run power company, has built two new power stations and installed new power demand management programs to improve power grid reliability. Construction delays at two additional plants, however, mean South Africa is operating on a razor thin margin; economists judge that growth cannot exceed 3% until those plants come on line. 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 |
KERRY INGREDIENTS SOUTH AFRICA (PTY)LTD |
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Country |
South Africa |
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Subject Contact Person |
MARK PERCIEN-Financial
manager |
|
Assessment |
This is an established
business. On investigation contact was made with MARK PERCIEN the financial
manager who declined financial information.The subejct is meeting commitments
timeously with suppliers.We obtained a bank code C for R 1500000 over a period
of 30 days.Please see the available information on the subject below. |
|
Registered Name |
KERRY INGREDIENTS SOUTH AFRICA (PTY) LTD |
|
Trading as/ Division Name |
KERRY INGREDIENT AND
FLAVOUR |
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Previous Name |
KERRY BIOSCIENCE |
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Date of Name Change |
|
|
Registration Number |
M2004/000621/07 |
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Registration Date |
2004/01/15 |
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Date Commenced Trading |
2004-01-15 |
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Age of Business |
10 Years 3 Months |
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History of Business |
The company was
established in 2004 |
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History of Principals |
There are 3 active
directors with the subject |
|
Shareholders/Members/Partners
of subject and % holding |
100%-KERRY GROUP
NETHERLANDS |
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Authorised Share Capital |
R1000.00 |
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Issued Share
Capital/Members Contribution |
R 1.00 |
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Status |
In Business |
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Operations Assessment |
The subjects main
operation is to manufacture flavours for meats, soups, sauces, dressings and
savoury snacks |
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Industry/ Customers |
All major retailers |
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Export |
Yes |
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Export Countries |
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Import |
Yes |
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Import Countries |
|
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Major Industry Code /
SICC |
30499 |
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Definition of Code |
Manufacture of spices
condiments vinegar yeast & other food products NEC |
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Head Office Physical
Address |
268 FLEMING ROAD,
MEADOWDALE, 1609 |
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Head Office Postal Address |
PO BOX 597, ISANDO, 1600 |
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Current Tel Number |
0119236360 |
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Cell Number |
None |
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Current Fax Number |
0862199841 |
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Current Email Address |
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|
Web Site Address |
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|
Comments |
|
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Company Registered Name |
DELOTTE & TOUCHE |
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Trading Name |
Unavailable |
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Registration Number |
Unavailable |
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Physical Address |
20 Woodland
RoadWOODMEAD2051 |
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Postal Address |
Private Bag X6GALLO
MANOR2052 |
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Contact Person |
LOOBEN PATEL |
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Contact Number |
0112096684 |
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Email |
Unavailable |
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Principals |
|
|
Judgements Against
Subject |
None |
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Judgements Against
Principals |
None |
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Subject Verified as
Client |
Yes |
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Practice Number |
902276 |
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VAT Number |
4220121935 |
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Tax Number |
Unavailable |
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BEE Status |
Level 2 |
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Financial Year End |
February |
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No of years in Business |
7 Years |
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Website |
|
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Comment |
|
Previous
Auditors Information - No Information on Record
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Vat Number |
4790211736 |
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Status |
ACTIVE |
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Vat Liable Date |
2004/04/01 |
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Tax Number |
9163679153 |
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Tax Clearance Expire Date |
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Financial Year End |
December |
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Comment |
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Black Economic
Empowerment |
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Status |
Yes |
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Score |
6.00 |
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Expire Date |
|
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BEE Certificate Available |
No |
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Comment |
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ISO
Information - No Information on Record |
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Workman's compensation |
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Registered |
Yes |
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Compliance Certified |
Yes |
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Comment |
|
Subsidiaries
Information - No Information on Record
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Employees |
|
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Number of Employees |
130 |
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1. Salaried employees |
130 |
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2. Waged employees |
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3. Permanent employees |
130 |
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4. Casual employees |
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5. Contracted employees |
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Comment |
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Company
Fleet Information - No Information on Record
Offices
Information - No Information on Record
Branch Information - No Information on Record
Company
Structure (Ownership)
Organisation
Chart
|
Level |
Position |
Name |
Comment |
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|||
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1 |
Director |
BRADLEY PAUL
WOOLRIDGE |
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|||
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1 |
Director |
PAUL STANDISH MC
CARTHY |
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Key
Deals - No Information on Record
|
Holding |
Company |
Sub |
Comment |
|
100%-KERRY GROUP NETHERLANDS |
KERRY INGREDIENTS SOUTH AFRICA
(PTY)LTD |
None |
|
Key
Deals - No Information on Record
|
Holding |
Company |
Sub |
Comment |
|
100%-KERRY GROUP NETHERLANDS |
KERRY INGREDIENTS SOUTH AFRICA
(PTY)LTD |
None |
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Trade References
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
|
1 |
CARGO CAMPASS |
0114542010 |
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2 |
YELLOW JERSEY LOGISTICS |
0113961172 |
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4 |
EPIC OILS |
0112480000 |
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Trade
References Detail
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Nr |
Age of
Acc |
Credit
Limit |
Max
Credit |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
|
1 |
3 years |
R 5.00 |
R 8.00 |
30 days |
R 2.00 |
25 days |
Great, always pays before
due date |
|
1 |
5 |
$ 5.00 |
$ 2.00 |
30 |
$ 5.00 |
30 |
|
|
1 |
6 months |
R100000.00 |
R 0.00 |
30 days |
R 65000.00 |
40 days |
Fair |
Judgements
- No information on record Business
Rescue
- No Information on Record
Default
Listing - No information on record
Notarial
Bonds - No information on record
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Bank |
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Branch |
SANDTON |
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Brach Code |
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Bank Account Number |
0200875036 |
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Type of Account |
CURRENT |
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Account Name |
KERRY INGREDIENTS SOUTH
AFRICA (PTY) LTD |
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Overdraft Facilities |
None |
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Bank Code |
C For R 1500000 |
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Bank Comment |
The subject's bankers
consider them good for all business normal engagements |
Bank
Code History - No Information on Record
Previous
Bank Account Information - No Information on Record
Deeds
Information - No information on record
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Number of Principals |
3 |
|
Average Age of Active
Principals |
48 |
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Active
Principals Principal - 1 of 3 BRADLEY WOOLRIDGE |
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|
Surname |
WOOLRIDGE |
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First Name |
BRADLEY |
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Other Names |
None |
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Marital Status |
|
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ID Number |
7911065250087 |
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Verified ID Number |
Yes |
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Current Age |
34 Years 5 Months |
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Designation |
Director |
|
Status |
Active |
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Appointment Date |
2013/03/01 |
|
Physical Address (at time
of Appointment) |
WEST WING, 1ST FLOOR, 18
HURLINGHAM ROAD, ILLOVO, 2196 |
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Postal Address |
P O BOX 630, NORTHLANDS,
2116 |
|
Current Tel Number |
0312627998 |
|
Cell number |
0837351318 |
|
Shareholding/Membership |
0.00 |
Business
Information for BRADLEY WOOLRIDGE
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
KERRY INGREDIENTS SOUTH AFRICA
(PTY)LTD |
M2004/000621/07 |
In Business |
10 Years 10 Months |
0 |
No |
|
|
ORLEY FOODS (PTY)LTD |
M2007/002157/07 |
In Business |
7 Years 7 Months |
0 |
No |
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Principal
Previous Business Interests
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
REGENERATE
INVESTMENTS (PTY)LTD |
M2009/021158/07 |
In Business |
5
Years 5 Months |
0 |
No |
|
Principal
Deeds Information Property Interests for BRADLEY WOOLRIDGE
|
Title Deed No. |
T35982/2008 |
Erf/Site No. |
|
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
116 BIRDHURST CHILTERN
HILLS WESTVILLE |
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Property Type |
Freehold |
Extent / Size |
1858.0SQM |
|
Purchase Date |
2008/04/19 |
Purchase price |
R1187000.00 |
|
% Ownership |
0.00 |
Bond Holder |
INVESTEC BANK LTD |
|
Bond Number |
B289552008 |
Bond Amount |
R1000000.00 |
|
Comment |
|
||
Principal
- 2 of 3 PAUL MC CARTHY
|
Surname |
MC CARTHY |
|
First Name |
PAUL |
|
Other Names |
STANDISH |
|
Marital Status |
|
|
ID Number |
5709240000000 |
|
Verified ID Number |
No |
|
Current Age |
56 Years 7 Months |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2008/05/13 |
|
Physical Address (at time
of Appointment) |
PRINCE'S STREET, TRALEE,
CO. KERRY, IRELAND, 0000 |
|
Postal Address |
P O BOX 36519, CHEMPET,
CHEMPET, 7442 |
|
Current Tel Number |
0119236360 |
|
Cell number |
|
|
Shareholding/Membership |
0.00 |
Business
Information for PAUL MC CARTHY Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
KERRY INGREDIENTS SOUTH AFRICA
(PTY)LTD |
M2004/000621/07 |
In Business |
10 Years 10 Months |
0 |
No |
|
|
ORLEY FOODS (PTY)LTD |
M2007/002157/07 |
In Business |
7 Years 7 Months |
0 |
No |
|
Principal
- 3 of 3
BRIAN
MEHIGAN
|
Surname |
MEHIGAN |
|
First Name |
BRIAN |
|
Other Names |
CORNELIUS |
|
Marital Status |
|
|
ID Number |
6107010000000 |
|
Verified ID Number |
No |
|
Current Age |
52 Years 9 Months |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2004/04/20 |
|
Physical Address (at time
of Appointment) |
KILLELTON, CAMP, TRALEE, CO.
KERRY, IRELAND, 0000 |
|
Postal Address |
P O BOX 36519, CHEMPET,
CHEMPET, 7442 |
|
Current Tel Number |
0119236360 |
|
Cell number |
|
|
Shareholding/Membership |
0.00 |
Business
Information for BRIAN MEHIGAN Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
KERRY INGREDIENTS SOUTH AFRICA
(PTY)LTD |
M2004/000621/07 |
In Business |
10 Years 10 Months |
0 |
No |
|
|
ORLEY FOODS (PTY)LTD |
M2007/002157/07 |
In Business |
7 Years 7 Months |
0 |
No |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.85 |
|
|
1 |
Rs.102.68 |
|
Euro |
1 |
Rs.81.46 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.