|
Report Date : |
09.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
VERSATILE CHEMICALS CC |
|
|
|
|
Registered Office : |
5 Marconi Nook, Hennopspark, Centurion, 0157 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
27.01.2006 |
|
|
|
|
Com. Reg. No.: |
B2006/013496/23 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Engaged in mixing and distribution of food colourants |
|
|
|
|
No. of Employees : |
21 |
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 |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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. 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.
|
Source : CIA |
|||
|
Subject Name |
VERSATILE CHEMICALS CC |
|
|
Country |
South Africa |
|
|
Subject Contact Person |
TANYA VAN NIEKERK - Debtors |
|
|
Assessment |
This is an established business. On investigation contact was made with TANYA in the debtors department who assisted with the requested information. We are currently awaiting a trade reference and additional contact details for 2 suppliers. We are awaiting banking details from the businesses personal banker. Financial information was not made available due to it being confidential. Please see the available information on the subject below. |
|
|
Registered Name |
VERSATILE CHEMICALS CC |
|
Trading as/ Division Name |
VERSACHEM |
|
Previous Name |
None |
|
Date of Name Change |
None |
|
Registration Number |
B2006/013496/23 |
|
Registration Date |
2006/01/27 |
|
Date Commenced Trading |
2006-01-27 |
|
Age of Business |
8 Years |
|
History of Business |
The subject commenced trading as a new business in 2006. |
|
History of Principals |
There is 1 active director within the business. |
|
Shareholders/Members/Partners of subject and % holding |
100 % - CATHARINA ELIZABETH WULFSON |
|
Authorised Share Capital |
R0.00 |
|
Issued Share Capital/Members Contribution |
R0.00 |
|
Status |
In Business |
|
Operations Assessment |
Mixing and distribution of food colourants |
|
Industry/ Customers |
The snack food industry |
|
Export |
Yes |
|
Import |
Yes |
|
Major Industry Code / SICC |
30401 |
|
Definition of Code |
MANUFACTURE OF FOOD PREPARATION PRODUCTS |
|
Head Office Physical Address |
5 MARCONI NOOK, HENNOPSPARK, CENTURION, 0157 |
|
Head Office Postal Address |
P O BOX 5337, THE REEDS, 0158 |
|
Current Tel Number |
0126534447 |
|
Cell Number |
0829094302 |
|
Current Fax Number |
0126537561 |
|
Current Email Address |
|
|
Web Site Address |
|
Company Registered Name |
CONNAUGHTON MILLER SMITH INC |
|
Trading Name |
CMS |
|
Registration Number |
M1996/018149/21 |
|
Physical Address |
40 Senator Marks Avenue, VEREENIGING, 1939 |
|
Postal Address |
P 0 Box 319, VEREENIGING, 1930 |
|
Contact Person |
LOUISE |
|
Contact Number |
0164551807 / 0832831586 |
|
Email |
|
|
Principals |
4 |
|
Judgements Against Subject |
None On Record |
|
Judgements Against Principals |
None On Record |
|
Subject Verified as Client |
Yes |
|
Practice Number |
901040E |
|
VAT Number |
4840164166 |
|
Tax Number |
9081006687 |
|
BEE Status |
Unavailable |
|
Financial Year End |
February |
|
No of years in Business |
4 Years 2 Months |
|
Website |
Previous Auditors Information - No Information on Record
|
Vat Number |
4930225117 |
|
Status |
ACTIVE |
|
Vat Liable Date |
2006/02/01 |
|
Tax Number |
9433803153 |
|
Financial Year End |
February |
|
Status |
No |
ISO Information -
No Information on Record
|
Registered |
Yes |
|
Compliance Certified |
Yes |
Subsidiaries
|
Subsidiary Company |
There are no reported subsidiaries |
|||
|
Employees |
||||
|
Number of Employees |
21 |
|||
|
1. Salaried employees |
19 |
|||
|
2. Waged employees |
2 |
|||
|
3. Permanent employees |
19 |
|||
|
4. Casual employees |
2 |
|||
|
Company Fleet |
||||
|
Company Fleet |
No of vehicles: |
Owned/Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is made up of |
2 |
|||
|
Light delivery Vehicles |
2 |
Owned |
|
|
|
Offices |
Offices |
|
Head Office Owned/ Rented |
Leased |
|
Rental Company |
Unavailable |
|
Lease Agreement |
5 Years |
|
Type of Premises |
Factory and offices |
Branch Information - No Information on Record
Organisation Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
Managing Member |
CATHARINA ELIZABETH WULFSON |
|
Company Structure (Ownership)
Note:
One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
100% - CATHARINA ELIZABETH WULFSON |
VERSATILE CHEMICALS CC |
|
|
Key Deals - No Information on Record
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
|
1 |
NFI |
0124561593 |
|
|
Waiting for additional contact information |
|
2 |
CREST CHEM |
0112543300 |
|
|
Awaiting Trade
Reference |
|
3 |
FOOD SPEC |
0314682263 |
|
|
Waiting for |
|
|
|
|
|
|
additional contact |
|
|
|
|
|
|
information |
Trade References Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
|
|
|
|
|
|
Waiting for
additional contact information |
|
2 |
|
|
|
|
|
|
Awaiting Trade Reference |
|
3 |
|
|
|
|
|
|
Waiting for additional
contact information |
Judgements
- No information on record
Business
Rescue - No Information on Record
Default
Listing - No information on record
Notarial
Bonds - No information on record
Bank
Information - No Information on Record
Bank
Code History - No Information on Record
Previous
Bank Account Information - No Information on Record
Property Interests for Company VERSATILE CHEMICALS CC
|
Title Deed No. |
T79095/2012 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
20 TOBIE ROOIHUISKRAAL CENTURION |
|
Property Type |
Freehold |
Extent / Size |
1066.0SQM |
|
Purchase Date |
2012/08/14 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Number of Principals |
1 |
|
Average Age of Active Principals |
51 |
Active Principals
Principal - 1of 1 CATHARINA WULFSOHN
|
Surname |
WULFSOHN |
|
First Name |
CATHARINA |
|
Other Names |
ELIZABETH |
|
ID Number |
6312010108085 |
|
Verified ID Number |
Yes |
|
Current Age |
50 Years 1 Months |
|
Designation |
Managing Member |
|
Status |
Active |
|
Appointment Date |
2006/01/27 |
|
Physical Address (at time of Appointment) |
44 PHALAROPE STREET, ROOIHUISKRAAL, CENTURION, 0157 |
|
Postal Address |
P 0 BOX 5337, THE REEDS, THE REEDS, 0158 |
|
Current Tel Number |
0126534447 |
|
Cell number |
0829094302 |
|
Shareholding/Membership |
100% |
Principal's
Adverse - No information on record
Business Information for
CATHARINA WULFSOHN
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
SURE-SWEET (PTY) LTD |
K2012/214669/07 |
In Business |
2 Years 2 Months |
0 |
No |
|
|
VERSATILE CHEMICALS CC |
B2006/013496/23 |
In Business |
8 Years 8 Months |
0 |
No |
|
Principal's Previous Business Interests - No information on record
Principal Deeds
Information
Property Interests
for CATHARINA WULFSOHN
|
Title Deed No. |
ST81932/2012 |
Erf/Site No. |
881 |
|
Deeds Office |
PRETORIA |
Physical Address |
106 REDDERSBURG ROOIHUISKRAAL NORTH CENTURION |
|
Property Type |
Sectional Title |
Extent / Size |
78.0SQM |
|
Purchase Date |
2012/09/01 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.24 |
|
UK Pound |
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.84.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.