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Report Date : |
14.11.2014 |
IDENTIFICATION DETAILS
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Name : |
DICLA FARM AND SEED (PTY) LTD |
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Registered Office : |
Plot 11 Van Wyksvlei,
Next to R28, Muldersdrift, 1739, P O Box 339, Muldersdrift, 1747 |
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Country : |
South Africa |
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Date of Incorporation : |
27.03.2009 |
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Legal Form : |
Private Company |
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Line of Business : |
Importers and suppliers of agricultural machinery, trailers, implements and related goods, tunnel farming and poultry farming |
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No of Employees : |
62 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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) |
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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 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 |
On investigation
contact was made with a respondent at the subject who stated that Johan Tijssen
is the only person able to assist with information, however it was stated that
Johan is on the farm and unable to take telephone calls. Nevertheless, it was
suggested that an email questionnaire be forwarded to johan.tijssen@dicla.com,
this was duly sent and we currently await a response. Nevertheless, in the
interim please see historical information dated 23 July 2013.
(The information
contained in this report, other than comment by outside authorities, has been
voluntarily supplied by Officials of the subject):
DICLA FARM AND SEED (PTY) LTD
Plot 11 Van Wyksvlei
Next to R28
MULDERSDRIFT
1739
P O Box 339
MULDERSDRIFT
1747
+27 11 662 1371
+27 11 6621363
90% J TIJSSEN
10% C H TIJSSEN
None
L ESTERHUYSEN ID
No. 7509050007080
J TIJSSEN ID
No. 7806135133083
FIRST NATIONAL BANK,
Centurion Branch. It was stated that the
subject enjoys overdraft facilities to an extent of R3 000 000.
27 March 2009
Registration
Certificate Number: 2009/006254/07
4540171461
9553317844
Non-compliant
Importers and suppliers of agricultural machinery, trailers, implements and related goods, tunnel farming and poultry farming
It was stated that the subject imports supplies from China, Korea, India, Turkey, Italy, Netherlands and the UK and deals locally with:
Previously, we have divulged the names of the major suppliers in our reports. We have discontinued this practice to protect our valuable sources of trade information. This has become necessary because we now give a description of the goods or services to which the trade references relate. This gives our client the ability to assess whether the purchases are vital to the subject’s operation and whether we have only been given their essential suppliers that must be paid promptly for the subject to maintain its operation.
The agricultural industry
South Africa
Botswana, Zimbabwe and Namibia
62
None
The premises are reported to be leased
R1 000 divided into 1 000 ordinary shares of R1 each
R100
The following
estimated financial situation was submitted as at 22 July 2013:
STOCK R 43 261 057
DEBTORS R 14 378 209
FIXED ASSETS R 22 236 261
CREDITORS R 11 322 562
TURNOVER per annum R130 122
968
VAN DE BEEK EN BOER
ACCOUNTING SERVICES
APRIL
GARRUN PRETORIA
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 10 years R250 000 +R 30 000 30 days +60 days Slow/ problematic
2. 15 years Open Acc R150 000 30
days 30 days Excellent
3. 2006 R100 000
R 50 000 30 days 40
days Fair
This is an established company meeting its smaller
commitments over terms. In view of the
slow payment pattern it is suggested that dealings to an extent of
€250 000 be on a well spread and secured basis.
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT
EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2006 R300
000 R50 000- 30 days 30
days Good
R100
000
2. ±10 years Open R
8000- 30 days 30 days Good
R30
000
3. +15 years R22
000 R14 000 30 days 30 days Good
(These descriptions relate
respectively by number to the above current trade transactions):
1. Water tanks.
2. Automotive parts
3. Machinery
This is an established company that is
meeting its small commitments timeously. The subject is considered equal to its
normal business engagements however the slow payment history and lack of
updated general information should be borne in mind.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.56 |
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|
1 |
Rs.97.10 |
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Euro |
1 |
Rs.76.61 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
SMN |
RATING EXPLANATIONS
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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.