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Report Date : |
04.02.2014 |
IDENTIFICATION DETAILS
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Name : |
PHARMACHEM LABORATORIES (PTY) LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
21.11.2012 |
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Com. Reg. No.: |
2012/206966/07. |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturers of pharmaceuticals, including tablets,
capsules, liquid preparations, ointments and creams and granules in
sachets. |
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No. of Employees : |
08 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Recently commenced its business activity |
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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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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 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. State power supplier 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.
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Source : CIA |
PHARMACHEM LABORATORIES (PTY) LTD
482 Barolong Street
Icon Industrial Park
SUNDERLAND RIDGE
Centurion
Gauteng
Private Bag X12
PRETORIA WEST
0117
TELEPHONE NUMBER: +27 12 940 1237
FAX NUMBER: +27 86 510 7978
· B A CARRIM
S
MOODLEY
I
MOHAMED
A
BERA
W
MPOFU
PHARMACHEM PARMACEUTICALS (PTY) LTD
(Registration Certificate Number: 2006/033994/07)
B A CARRIM ID No. 5803075183089
S MOODLEY ID No. 6504155180081
I MOHAMED ID No. 6608235224080
A BERA ID No. 7805015212082
W MPOFU Ppt No. BN003412
FIRST NATIONAL BANK, Laudium Branch. Further information on banking facilities was not forthcoming from the respondent.
21 November 2012
Registration Certificate Number: 2012/206966/07
The subject commenced trading in January 2014 when it took over some of the operations of PHARMACHEM PHARMACEUTICALS (PTY) LTD.
4340262031
Level 3 contributor
Manufacturers of pharmaceuticals, including tablets, capsules, liquid preparations, ointments and creams and granules in sachets. The main brand being PHARMACHEM.
It was established that the subject recently acquired credit facilities with:
· SIYEZA FINE CHEMICALS
BNI
POLY CONTAINERS
NEW
AGE PLASTICS
It was stated by the respondent that although the credit facilities have been provided the subject has not made any purchases as yet due to the large volume of stock transferred from PHARMACHEM PHARMACEUTICALS (PTY) LTD.
Pharmaceuticals, retailers and wholesalers
South Africa
None
8
None
The premises are reported to be leased
Full financial information was not forthcoming from respondents at the subject and outside authorities were unable to assist in this regard.
A MOOSA AND COMPANY
FEBRUARY
SOLID INSURANCE BROKERS
NOT APPLICABLE
This is a very new
business which has recently taken over some of the operations of an established
business. In view of the infancy of the
subject, it is suggested that dealings be on a letter of credit or secured
basis until a payment pattern is established.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.69 |
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|
1 |
Rs.102.97 |
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Euro |
1 |
Rs.84.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.