|
Report Date : |
14.10.2014 |
IDENTIFICATION DETAILS
|
Correct Name : |
ROHA DYE CHEM LTD |
|
|
|
|
Registered Office : |
D4 & 5, Richjoy
Properties, 127 Edison Crescent, Hennopspark Industrial, Centurion, Gauteng |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
22.02.1996 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacture of food colouring. |
|
|
|
|
No of Employees : |
13 |
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 : |
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 |
ROHA DYE CHEM LTD
(Incorporated in India)
D4 & 5
Richjoy Properties
127 Edison Crescent
HENNOPSPARK INDUSTRIAL
Centurion
Gauteng
P O Box 10563
CENTURION
0046
+27 12 653 4903
+27 12 653 4900
ROHA DYECHEM LTD (India)
None
S J TIBREWALA India D.O.B. 1958/06/22
R J TIBREWALA (brother) India D.O.B. 1956/09/21
B R TIBREWALA India D.O.B. 1983/10/25
The company secretary in South Africa is reported to be J J OBERHOLSTER,
ID No. 5809045001087
ABSA BANK, Midrand, Account Number: 4045733254. It was stated that the subject does not
require overdraft facilities as credit balances are maintained.
22 February 1996
Registration Certificate Number 1996/002179/10 (externally registered
company)
4040155352
9731434644
Non-compliant
Manufacture of food colouring.
The subject is not a general credit seeker locally and is mainly
supplied by its head office in India. The subject deals locally with its
clearing agents.
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.
Food manufacturers and flavour houses.
South Africa
Neighbouring countries
13 permanent
The subject’s head office is based in India. It was stated that the head office has 22
branches worldwide.
The premises are reported to be leased
The following estimated financial situation was submitted on 10 October
2014:
STOCK (2005) R6 000 000 - R 7 000 000
DEBTORS R 5 000 000
FIXED ASSETS book
value R 500 000
CREDITORS fluctuates
on terms R 8 000 000
OVERDRAFT Nil
LOANS from
head office R 3 000 000
TURNOVER per annum R70 000 000
GRIESEL NEL ASSOCIATES
MARCH
MERIT INSURANCE BROKERS
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Old acc. R80
000 R1 000 - 30 days 30 days Very
good R80 000
2. 1995 R400
000 R100 000 - 30 days 30
days Excellent
R300
000
CURRENT TRADE REFERENCES:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2002 Open R20 000 - 7 days 7
days Very good R50 000
2. Awaiting email trade reference.
(These descriptions relate respectively by number
to the above current trade transactions):
1. Freight forwarder
This is an established externally registered company that operates as a
branch in South Africa. The subject is meeting its one obtainable moderate
local commitment timeously. The subject is considered equal to its normal
business engagements, but the relatively high creditors figure should be borne
in mind.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.24 |
|
|
1 |
Rs.98.68 |
|
Euro |
1 |
Rs.77.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
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.