MIRA INFORM REPORT

 

 

Report Date :

27.06.2014

 

IDENTIFICATION DETAILS

 

Name :

RUDOLF CHEMICALS (PTY)LTD

 

 

Registered Office :

17 Progress Road, New Germany, Durban, 3610

 

 

Country :

South Africa

 

 

Date of Incorporation :

25.07.1983

 

 

Com. Reg. No.:

M1983/007665/07

 

 

Legal Form :

Private Company

 

 

Line of Business :

subject has advanced chemistry and innovative technologies for textiles, textile care, textile coating, construction, leather and other applications.

 

 

No of Employees :

Not Available 

 

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 – March 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

South Africa

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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

RUDOLF CHEMICALS (PTY)LTD

Country

South Africa

Subject Contact Person

PRAVESH SINGH - General Manager (Local)

Assessment

This is an established business.

 

On investigation contact was made with PRAVESH SINGH the general manager, who declined to assist with any information, as he does not feel comfortable divulging company information to any company across the boarder.

 

Please see the available information on the subject below.

 

 

Company information

 

Registered Name

RUDOLF CHEMICALS (PTY)LTD

Trading as/ Division Name

None

Previous Name

None

Date of Name Change

None

Registration Number

M1983/007665/07

Registration Date

1983/07/25

Date Commenced Trading

1983-07-25

Age of Business

30 Years 11 Months

History of Business

The subject commenced trading as a new company in 1983.

History of Principals

There are 4 active directors within the company.

Shareholders/Members/Partners of subject and % holding

Unavailable

Status

In Business

Operations Assessment

The subject has advanced chemistry and innovative technologies for textiles, textile care, textile coating, construction, leather and other applications.

Industry/ Customers

The private and public sector

Export

Unknown

Import

Unknown

Major Industry Code / SICC

31290

Definition of Code

Manufacture of other textiles n.e.c.

Head Office Physical Address

17 PROGRESS ROAD, NEW GERMANY, DURBAN, 3610

Head Office Postal Address

P O BOX 2395, PINETOWN, 3600

Current Tel Number

0317058961

Cell Number

Unavailable

Current Fax Number

0317058964

Current Email Address

rudsales@iafrica.com

Web Site Address

www.rudolf-group.co.za

 

Auditors information

 

Company Registered Name

GRANT THORNTON

Trading Name

Unavailable

Registration Number

Unavailable

Physical Address

Unavailable

Postal Address

PRIVATE BAG 28, BENMORE, 2010

Contact Person

Unavailable

Contact Number

Unavailable

Email

Unavailable

Judgements Against Subject

Unavailable

Judgements Against Principals

Unavailable

Practice Number

904791E

VAT Number

Unavailable

Tax Number

Unavailable

BEE Status

Unavailable

Financial Year End

Unavailable

No of years in Business

Unknown

Website

Unavailable

 

Previous Auditors Information - No Information on Record

 

Tax information

 

Vat Number

4140107303

Status

ACTIVE

Vat Liable Date

1991/09/30

Tax Number

9259003201

Financial Year End

December

 

 

Black Economic Empowerment Information - No Information on Record

 

ISO Information - No Information on Record

 

Work Mans Information - No Information on Record

 

 

Company Structure

 

Subsidiaries Information - No Information on Record

 

Employees Information - No Information on Record

 

Company Fleet Information - No Information on Record

 

Offices Information - No Information on Record

 

Branch Information - No Information on Record

 

 

Management Overview

 

Organisation Chart

Level

Position

Name

Comment

1

GENERAL MANAGER (LOCAL)

PRAVESH SINGH

 

1

DIRECTOR

WOLFGANG ANTON

 

 

 

SCHUMANN

 

 

Company Structure Information - No Information on Record

 

Note: One level up and all levels down

 

Key Deals - No Information on Record

 

Trade References Information - No Information on Record

 

 

Adverse Information on Subject

 

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

 

 

Deeds Information

 

Property Interests for Company RUDOLF CHEMICALS (PTY)LTD

Title Deed No.

T8025/1989

Erf/Site No.

18

Deeds Office

PIETERMARITZBURG

Physical Address

17 PROGRESS 1623-0060-000 NEW GERMANY

Property Type

Farms

Extent / Size

 

Purchase Date

1988/08/01

Purchase price

R 640000.00

% Ownership

0.00

Bond Holder

NEDCOR BANK LTD

Bond Number

B96101992

Bond Amount

R1000000.00

 

 

Principals

 

Number of Principals

4

Average Age of Active Principals

47

 

Active Principals Principal - 1 of 4 WOLFGANG ANTON SCHUMANN

Surname

SCHUMANN

First Name

WOLFGANG ANTON

ID Number

951522257

Verified ID Number

No

Current Age

40 Years 11 Months

Designation

MANAGING DIRECTOR

Status

Active

Appointment Date

2010/08/03

Physical Address (at time of Appointment)

DONAUSTRASSE 34, 81679 MUNICH, GERMANY, 0000

Postal Address

ALTVATERSTRASSE 58 - 64, 82538 GERETSRIED, GERMANY, 0000

Shareholding/Membership

0.00

 

Principal's Adverse - No information on record

 

Business Information for WOLFGANG ANTON SCHUMANN

Principal Current Business Interests

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

RUDOLF

CHEMICALS

(PTY)LTD

M1983/007665/07

In Business

31 Years 7 Months

0

No

 

 

Principal's Previous Business Interests - No information on record

 

 

Principal - 2 of 4 ANTON SCHUMANN

 

Surname

SCHUMANN

First Name

ANTON

Other Names

ERNST

ID Number

7509240000000

Verified ID Number

No

Current Age

38 Years 9 Months

Designation

MANAGING DIRECTOR

Status

Active

Appointment Date

2009/05/09

Physical Address (at time of Appointment)

AZTVATERSTR 58 -64, 82538 GERETSRIED, GERMANY, 0000

Postal Address

AZTVATERSTR 58 - 64, 82538 GERETSRIED, 0000

Shareholding/Membership

0.00

 

Principal's Adverse - No information on record

 

Business Information for ANTON SCHUMANN

Principal Current Business Interests

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

RUDOLF

CHEMICALS

(PTY)LTD

M1983/007665/07

In Business

31 Years 7 Months

0

No

 

 

Principal's Previous Business Interests - No information on record

 

Principal - 3 of 4 WILLEM LOURENS

 

Surname

LOURENS

First Name

WILLEM

ID Number

6701105126087

Verified ID Number

Yes

Current Age

47 Years 5 Months

Status

Active

Appointment Date

2005/08/01

Physical Address (at time of Appointment)

16 JOHN ADAMS ROAD, WATERFALL, 3610

Postal Address

P O BOX 2395, PINETOWN, 2600

Current Tel Number

0317020961

Cell number

0836102134

Shareholding/Membership

0.00

 

Principal's Adverse - No information on record

 

Business Information for WILLEM LOURENS

 

Principal Current Business Interests

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

RUDOLF

CHEMICALS

(PTY)LTD

M1983/007665/07

In Business

31 Years 7 Months

0

No

 

 

Principal's Previous Business Interests - No information on record

 

Principal Deeds Information

 

Property Interests for WILLEM LOURENS

 

Title Deed No.

T27895/2004

Erf/Site No.

978

Deeds Office

PIETERMARITZBURG

Physical Address

16 JOHN ADAMS WATERFALL WATERFALL

Property Type

F

Extent / Size

 

Purchase Date

2004/02/03

Purchase price

R 550000.00

% Ownership

0.00

Bond Holder

NEDBANK LTD

Bond Number

B239992004

Bond Amount

R 450000.00

 

Principal - 4 of 4 ERNST SCHUMANN

 

Surname

SCHUMANN

First Name

ERNST

Other Names

WOLFGANG FRANZ

ID Number

4410080000000

Verified ID Number

No

Current Age

69 Years 8 Months

Designation

Director

Status

Active

Appointment Date

1983/08/03

Physical Address (at time of Appointment)

TATTENKOFNER STREET 24, D 8192, GERETSRIED, GERMANY, 0000

Postal Address

TATTENKOFNER STREET 24, D 8192, GERETSRIED, GERMANY, 0000

Shareholding/Membership

0.00

 

Principal's Adverse - No information on record

 

Business Information for ERNST SCHUMANN

Principal Current Business Interests

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

RUDOLF

CHEMICALS

(PTY)LTD

M1983/007665/07

In Business

31 Years 7 Months

0

No

 

 

Principal's Previous Business Interests - No information on record

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.16

UK Pound

1

Rs.102.23

Euro

1

Rs.82.04

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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.