MIRA INFORM REPORT

 

 

Report Date :

25.01.2014

 

IDENTIFICATION DETAILS

 

Name :

MARICO SOUTH AFRICA (PTY) LTD

 

 

Formerly Known As :

ENALENI PHARMACEUTICALS CONSUMER DIVISION (PTY) LTD

 

 

Registered Office :

1474 South Coast Road, Mobeni 4052

 

 

Country :

South Africa

 

 

Date of Incorporation :

10.06.1977

 

 

Com. Reg. No.:

1977/001752/07

 

 

Legal Form :

Private Company

 

 

Line of Business :

Not Available 

 

 

No. of Employees :

Not Available 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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

 

COMPANY NAME

 

MARICO SOUTH AFRICA (PTY) LTD

 

 

POSTAL ADDRESS   

 

P O Box 72625

MOBENI

4052

 

TELEPHONE NUMBER: +27 31 451 9300

FAX NUMBER:              +27 31 451 3952

 

On investigation contact was made with Zamilla, the Financial Manager at the subject who stated that the subject’s shareholders from India are currently meeting with the subject’s management and financial department and that she would be unable to assist the investigator before 31 January 2014.  It was, however, requested that an email questionnaire be forwarded.  This was duly sent and the investigator will endeavor to establish contact with the respondent in early February 2014 if no response is received by then.  As soon as further information is forthcoming the same will be compiled and forwarded to our client.

 

Nevertheless, please see statutory information obtained from CIPC below:

 

 

COMPANY NAME

 

MARICO SOUTH AFRICA (PTY) LTD

 

Formerly: ENALENI PHARMACEUTICALS CONSUMER DIVISION (PTY) LTD, the name having been changed on 11 February 2008.

 

Formerly: TUTTO (PTY) LTD, the name having been changed on 17 May 2005.

 

                                                

ADDRESSES ON CIPC

 

PHYSICAL ADDRESS:                1474 South Coast Road

MOBENI

4052

 

POSTAL ADDRESS:                   P O Box 72625

                                                  MOBENI

                                                  4060

 

DIRECTORS:                           JOHN RICHARD MASON

ID No. 6509055119089

Physical Address: 4 Millhaven Place La Lucia Durban 4051

Postal Address: P O Box 72625 Mobeni 4060

Date Appointed: 18 December 2007

 

JACQUES NIEUWENHUYS

ID No. 6602195018087

Residential Address: 13 Woodbury La Lucia Durban 4051

Postal Address: P O Box 72625 Mobeni 4060

Date Appointed: 5 July 2013

 

PAWAN AGRAWAL

PPt No. Z2336613

Residential Address: 7th Floor Grande Palladium 175 CST Road Kalina 175 CST Road Kalina Santacruz East 4000

Date Appointed: 5 July 2013

 

 

DATE REGISTERED:                 10 June 1977

Registration Certificate Number: 1977/001752/07

 

VAT NUMBER:                          4670110552

 

 

TAX NUMBER:                          9618195847

 

 

AUDITORS:                              DELOITTE & TOUCHE

Physical Address: Deloitte Place 2 Pencarrow Crescent Pencarrow Park La Lucia 4051

Postal Address: P O Box 243 Durban 4000

 

                        

YEAR END:                               MARCH

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.18

UK Pound

1

Rs.103.38

Euro

1

Rs.85.09

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.