|
Report Date : |
04.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
19 Boeing Road West, Morning
Hill, Bedfordview, 2007 Po Box 75864, Gardenview, 2047 |
|
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|
Country : |
|
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|
|
|
Date of Incorporation : |
18.01.1990 |
|
|
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Com. Reg. No.: |
M1990/000227/07 |
|
|
|
|
Legal Form : |
Private Company |
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|
|
|
Line of Business : |
Manufacture of
pharmaceuticals, medicinal chemical & botanical products |
|
|
|
|
No. of Employees : |
73 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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) |
|
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 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 |
SAVANNAH FINE
CHEMICALS (PTY) LTD |
|
Country |
South
Africa |
|
Subject
Contact Person |
SHOBANA
SEUNARAIN - Financial Manager |
|
Assessment |
This
is a well-established business. On investigation contact was made with
SHOBANA SEUNARAIN the financial manager of the company who assisted with the
information. The subject is meeting commitments timeously
with their suppliers. We are awaiting 1 further trade reference. We obtained
a bank code C for R 5 000 000 over a period of 30
days. Please see the available information for the subject below. |
|
Registered
Name |
SAVANNAH
FINE CHEMICALS (PTY)LTD |
|
Trading
as/ Division Name |
SAVANNAH
FINE CHEMICALS |
|
Previous
Name |
None |
|
Date
of Name Change |
None |
|
Registration
Number |
M1990/000227/07 |
|
Registration
Date |
1990/01/18 |
|
Date
Commenced Trading |
1990-01-18 |
|
Age
of Business |
23
Years 4 Months |
|
History
of Business |
SAVANNAH FINE CHEMICALS (PTY)LTD
trading as SAVANNAH FINE CHEMICALS was registered in January 1990 and
operations commenced immediately. |
|
History
of Principals |
There
is 1 active director within the company. |
|
Shareholders/Members/Partners
of subject and % holding |
100
% - ROBIN BRIAN MITCHELL |
|
Authorised
Share Capital |
R1000.00 |
|
Issued
Share Capital/Members Contribution |
R
100.00 |
|
Status |
In
Business |
|
Operations
Assessment |
The
subject operates as an importer and distributor of raw materials. |
|
Industry/
Customers |
The
subject supplies to the pharmaceutical, cosmetic, nutritional and the
industrial sectors. |
|
Export |
Yes |
|
Export
Countries |
|
|
Import |
Yes |
|
Import
Countries |
Germany,India |
|
Major
Industry Code / SICC |
33530 |
|
Definition
of Code |
Manufacture
of pharmaceuticals, medicinal chemical & botanical products |
|
Head
Office Physical Address |
19
Boeing Road West, Morning Hill, BEDFORDVIEW, 2007 |
|
Head
Office Postal Address |
PO
BOX 75864, GARDENVIEW, 2047 |
|
Current
Tel Number |
0118564500 |
|
Cell
Number |
|
|
Current
Fax Number |
0118564599 |
|
Current
Email Address |
|
|
Web
Site Address |
|
|
Comments |
|
|
Company
Registered Name |
PRICE
WATERHOUSE COOPERS INCORPORATED |
|
Trading
Name |
PWC |
|
Registration
Number |
1998/012055/21 |
|
Physical
Address |
2
Eglin Road, SUNNINGHILL, 2157 |
|
Postal
Address |
Private
Bag X36, SUNNINGHILL, 2157 |
|
Contact
Person |
MOAAZA |
|
Contact
Number |
0117974000 |
|
Email |
|
|
Principals |
249 |
|
Judgements
Against Subject |
None
On Record |
|
Judgements
Against Principals |
None
On Record |
|
Subject
Verified as Client |
Yes |
|
Practice
Number |
901121E |
|
VAT
Number |
4950174682 |
|
Tax
Number |
9343032844 |
|
BEE
Status |
Level
2 |
|
Financial
Year End |
June |
|
No
of years in Business |
11 |
|
Website |
|
|
Comment |
|
Previous
Auditors
|
Company Name |
Phone Number |
Time with previous
auditors |
Comment |
|
ERNST& YOUNG |
|
23 |
|
|
Vat
Number |
4660110034 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
|
|
Tax
Number |
9538167843 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
December |
|
Comment |
|
|
Black
Economic Empowerment |
|
|
Status |
Yes |
|
Score |
4.00 |
|
Expire
Date |
|
|
BEE
Certificate Available |
No |
|
Comment |
Level 6
BEE contributor |
|
ISO
Status |
|
|
Type of
ISO Grade |
9001 |
|
ISO
Certificate |
Yes |
|
ISO
Certificate Available |
No |
|
Certified
by an Accredited Agent |
Yes |
|
Comment |
|
|
Workman's
compensation |
|
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
|
Comment |
|
Subsidiaries
Information - No Information on Record
|
Employees |
|
|
Number
of Employees |
73 |
|
1.
Salaried employees |
73 |
|
2. Waged
employees |
|
|
3.
Permanent employees |
73 |
|
4.
Casual employees |
|
|
5.
Contracted employees |
|
|
Comment |
|
Company
Fleet Information - No Information on Record
|
Offices |
Offices |
|
Head
Office Owned/ Rented |
Leased |
|
Rental
Company |
Morninghill Office Park |
|
Owned by |
|
|
Value |
|
|
Bond |
|
|
Bank |
|
|
Lease
Agreement |
|
|
Lease
Expire Date |
|
|
Type of
Premises |
|
|
Comment |
|
|
Branches
Names |
Country |
Province |
|
SAVANNAH
FINE CHEMICALS (PTY) LTD - Durban |
South
Africa |
Kwa-Zulu Natal |
|
Branch
Detail Information |
||
|
Branches
Owned/ Rented |
Leased |
|
|
Rental
Company |
Undisclosed |
|
|
Owned by |
Undisclosed |
|
|
Value |
|
|
|
Bond |
|
|
|
Bank |
|
|
|
Lease
Agreement |
|
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|
Lease
Expire Date |
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Type of
Premises |
|
|
|
Comment |
Suite
1305, 13th Floor, Musgrave Towers, 115 Musgrave Road, DURBAN |
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|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
Director |
ROBERT
BRIAN MITCHELL |
|
|
Holding |
Company |
Sub |
Comment |
|
100 % - ROBIN BRIAN MITCHELL |
SAVANNAH FINE
CHEMICALS (PTY) LTD |
|
|
Key Deals
- No Information on Record
Trade
References
|
Trade
Reference nr |
Supplier |
Contact |
Surety
Value |
Notarial Bonds |
Comment |
|
1 |
WARREN
CHEM SPECIALITIES |
0215561920 |
|
|
|
|
2 |
RB &
SON TRANSPORT |
0215575112 |
|
|
|
|
3 |
CRUZ
CHEMICALS & FREIGHT SERVICES |
0314620371 |
|
|
Declined
to provide a trade reference |
|
4 |
MR. ZINC
OXIDE |
011 363
0293 |
|
|
Awaiting
trade reference |
|
5 |
KIRSCH
PHARMA |
0113925171 |
|
|
|
|
Nr |
Age of
Acc |
Credit
Limit |
Max
Credit |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
|
1 |
7 Years |
R150000.00 |
|
30 Days |
|
30 Days |
This is
a very good account. The supplier
declined to provide
any figures relating to the average
purchases and max limit. |
|
2 |
15 Years |
|
R 600000 |
30 Days |
R 400000 |
30 Days |
This is
an excellent account. The subject has an open account with thee supplier. |
|
|
|
|
|
|
|
|
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|
4 |
|
|
|
|
|
|
|
|
5 |
5 Years |
R100000.00 |
R150000 |
30 Days |
R 25000 |
30 Days |
This is
a good account. |
Adverse
Information on Subject
|
Judgements |
None |
|
Possible
Judgements |
None |
|
Civil
Court |
None |
|
RDs |
None |
|
Comment |
No
Information on Record |
Business
Rescue
|
Date
registered |
Business
rescue practitioner |
Contact
Information |
Details |
Comment |
|
|
There is
no information found on file |
No
Information on Record |
No
Information on Record |
No
Information on Record |
Default
Listings
|
Date |
Details |
Comment |
|
|
No
information found on file |
No
Information on Record |
|
Notarial Bonds |
||
|
Date |
Details |
Comment |
|
|
No
information found on file |
No
Information on Record |
|
Bank |
ABSA |
|
Branch |
SANDTON
CORPORATE |
|
Brach
Code |
632005 |
|
Bank
Account Number |
4073959969 |
|
Type of
Account |
CHEQUE |
|
Account
Name |
SAVANNAH
FINE CHEMICALS (PTY) LTD |
|
Overdraft
Facilities |
unavailable |
|
Bank
Code |
C - For
R 5 000 000 |
|
Bank
Comment |
The
subject's bankers consider them good for all normal business engagements |
Bank Codes
History
|
Date
requested |
Bank
Code |
Enquiry
Amount |
Number
of RD's |
RD
amount |
RD Date |
Bank
Comments |
Years
with bank |
Comment |
|
2012/07/27 |
C |
R
5000000.00 |
0 |
R 0.00 |
|
The
subject's bankers consider them as equal to their
normal business engagement
s |
|
|
Previous
Bank Account Information - No Information on Record
Deeds
Information - No information on record
|
CURRENT
ASSETS |
R150000000.00 |
|
Stock |
|
|
Debtors |
|
|
FIXED
ASSETS |
R
4000000.00 |
|
Plant,
Equipment, Vehicles |
|
|
Property |
|
|
CURRENT
LIABILITIES |
R
62000000.00 |
|
Creditors |
|
|
Loans/
From? |
|
|
Loan
Details |
|
|
LONG
TERM LIABILITIES |
|
|
Morgage Bonds |
|
|
Previous
Year Turnover |
|
|
Estimated
Current Year Turnover |
R
360000000.00 |
|
Current
Turnover per month |
R
25000000.00 |
|
Current
Turnover per annum |
R
300000000.00 |
|
Comment |
|
|
Please
note the following: |
|
|
Turnover
and assets less than R 1,000,000.00 |
The subject
falls within the National Credit Act |
|
Turnover
and assets less than R 2,000,000.00 |
The
subject falls within the Consumer Protection Act |
|
Number
of Principals |
1 |
|
Average
Age of Active Principals |
67 |
|
Active Principals
Active Principal - 1 of 1 ROBIN MITCHELL |
|
|
Surname |
MITCHELL |
|
First
Name |
ROBIN |
|
Other
Names |
BRIAN |
|
Marital
Status |
Married |
|
ID
Number |
4610215044001 |
|
Verified
ID Number |
Yes |
|
Current
Age |
67 Years |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
|
|
Physical
Address (at time of Appointment) |
344 6TH
CLOSE, MUSWELL ROAD, BRYANSTON, 2194 |
|
Postal
Address |
P.O BOX
98781, SLOANE PARK, 2152 |
|
Current
Tel Number |
0117065027 |
|
Cell
number |
0447064882 |
|
Shareholding/Membership |
100 % |
Principal's
Adverse - No information on record
Business
Information for ROBIN MITCHELL Principal's Current Business Interests - No
information on record
Principal's
Previous Business Interests - No information on record
Principal's
Deeds Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIS |
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.