|
Report Date : |
20.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
PALM
COMMODITY DISTRIBUTORS CC |
|
|
|
|
Formerly Known As : |
BLUE
DOT PROPERTIES |
|
|
|
|
Registered Office : |
32
Church Lane, Pinetown, 3610, Postnet Suite 142, Private Bag 817, New Germany,
3620 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
14.03.2000
|
|
|
|
|
Com. Reg. No.: |
B2000/011811/23 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacture
of flour, grain mill products incl. rice & vegetable milling |
|
|
|
|
No of Employees : |
9 |
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 |
PALM COMMODITY
DISTRIBUTORS CC |
|
Country |
South
Africa |
|
Subject
Contact Person |
KEVIN
- General Manager |
|
Assessment |
On
investigation contact was made with KEVIN the general manager of the business
who assisted with the required information. The subject is meeting
commitments timeously with it's suppliers. Please see the available information on the
subject below. |
|
Registered
Name |
PALM
COMMODITY DISTRIBUTORS CC |
|
Trading
as/ Division Name |
PALM
COMMODITY DISTRIBUTORS |
|
Previous
Name |
BLUE
DOT PROPERTIES |
|
Date
of Name Change |
2004-02-09 |
|
Registration
Number |
B2000/011811/23 |
|
Registration
Date |
2000/03/14 |
|
Date
Commenced Trading |
2000-03-14 |
|
Age
of Business |
14
Years 5 Months |
|
History
of Business |
The
subject commenced trading as a new business in 2000. It underwent a name
change from BLUE DOT PROPERTIES
to the current in 2004. |
|
History
of Principals |
There
is 1 active member within the business |
|
Shareholders/Members/Partners
of subject and % holding |
100
% - WENDY ANNE JONES |
|
Authorised
Share Capital |
|
|
Issued
Share Capital/Members Contribution |
|
|
Status |
In
Business |
|
Operations
Assessment |
The
subject supply's vegetable oil, maize grit in bulk and packaging of products. |
|
Industry/
Customers |
The
subject supply's to the snack industry and wholesalers. |
|
Export |
Yes |
|
Export
Countries |
|
|
Import |
Yes |
|
Import
Countries |
|
|
Major
Industry Code / SICC |
30311 |
|
Definition
of Code |
Manufacture
of flour, grain mill products incl. rice & vegetable milling |
|
Head
Office Physical Address |
32
CHURCH LANE, PINETOWN, 3610 |
|
Head
Office Postal Address |
POSTNET
SUITE 142, PRIVATE BAG 817, NEW GERMANY, 3620 |
|
Current
Tel Number |
0317013801 |
|
Cell
Number |
0828745646 |
|
Current
Fax Number |
0317023804 |
|
Current
Email Address |
|
|
Web
Site Address |
|
|
Comments |
|
|
Company
Registered Name |
ILONA
EBBELIGN |
||||
|
Trading
Name |
ILONA
EBBELIGN |
||||
|
Registration
Number |
None |
||||
|
Physical
Address |
Unavailable |
||||
|
Postal
Address |
Unavailable |
||||
|
Contact
Person |
ILONA |
||||
|
Contact
Number |
0824397528 |
||||
|
Email |
|||||
|
Principals |
|
||||
|
Judgements
Against Subject |
Unavailable |
||||
|
Judgements
Against Principals |
Unavailable |
||||
|
Subject
Verified as Client |
Yes |
||||
|
Practice
Number |
00161 |
||||
|
VAT
Number |
Unavailable |
||||
|
Tax
Number |
Unavailable |
||||
|
BEE
Status |
Unavailable |
||||
|
Financial
Year End |
Unavailable |
||||
|
No
of years in Business |
Unavailable |
||||
|
Website |
Unavailable |
||||
|
Comment |
|
||||
|
Previous Auditors |
|||||
|
Company
Name |
Phone
Number |
Time
with previous auditors |
Comment |
|
|
|
KEVIN
JAMES JONES |
|
|
|
|
|
|
Vat
Number |
4550189890 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
|
|
Tax
Number |
9462024143 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
June |
|
Comment |
|
Black Economic Empowerment Information - No Information on
Record
ISO Information - No Information on Record
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
|
Comment |
|
Subsidiaries Information - No Information on Record
Employees
|
Number
of Employees |
9 |
|||
|
1.
Salaried employees |
9 |
|||
|
2.
Waged employees |
0 |
|||
|
3.
Permanent employees |
9 |
|||
|
4.
Casual employees |
0 |
|||
|
5.
Contracted employees |
0 |
|||
|
Comment |
|
|||
|
Company Fleet |
||||
|
Company
Fleet |
No
of vehicles: |
Owned/Leased |
Value |
Outstanding
Balance |
|
Fleet
Operations |
|
|
|
|
|
The
Fleet is made up of |
4 |
|||
|
Comment |
|
|||
|
Cars |
3 |
Owned |
|
|
|
Light
delivery Vehicles |
1 |
Leased |
|
|
Offices
|
Offices |
Offices |
|
Head
Office Owned/ Rented |
Owned |
|
Rental
Company |
N/A |
|
Owned
by |
WENDY
ANNE JONES |
|
Value |
R
800000.00 |
|
Bond |
|
|
Bank |
N/A |
|
Lease
Agreement |
N/A |
|
Lease
Expire Date |
N/A |
|
Type
of Premises |
Office
house |
|
Comment |
|
Branch Information - No Information on Record
Organisation Chart
|
Level |
Position |
Name |
Comment |
|
1 |
Owner |
WENDY
ANNE JONES |
|
Company Structure (Ownership)
Note: One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
100
% - WENDY ANNE JONES |
PALM
COMMODITY DISTRIBUTORS CC |
None |
|
Key Deals - No Information on Record
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
|
1 |
FR
WARING |
0315363200 |
|
|
The
supplier declined to provide a trade reference. |
|
2 |
LUCERNE
TRANSPORT |
0118877700 |
|
|
|
|
3 |
OLAM |
0315665499 |
|
|
|
|
4 |
PERFORMANCE
OFFICE |
0313124116 |
|
|
|
Trade References Detail
|
Nr |
Age
of Acc |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
|
1 |
|
|
|
|
|
|
2 |
1
Year |
30
Days |
R
100000 -140000 |
30
Days |
This
is a good account. The subject as an open account with the supplier. |
|
3 |
2
Years |
30
Days |
R
700000 -1000000 |
30
Days |
This
is a good account. |
|
4 |
4
Years |
30
Days |
R
200 - 500 |
30
Days |
This
is an excellent account. |
Judgements - No information on record
BusinessRescue - No Information on Record
Default Listing - No information on record
Notarial Bonds - No information on record
|
Bank |
NEDBANK |
|
Branch |
KZN
BUSINESS |
|
Brach
Code |
198765 |
|
Bank
Account Number |
1648159753 |
|
Type
of Account |
CURRENT |
|
Account
Name |
PALM
COMMODITY DISTRIBUTORS CC |
|
Overdraft
Facilities |
NONE |
|
Bank
Code |
B
- FOR R 500 000 |
|
Bank
Comment |
The
subject's bankers consider them good for all business engagements |
Bank Code History -
No Information on Record
Previous Bank Account
Information - No Information on Record
Deeds Information -
No information on record
Financial Estimates
|
CURRENT
ASSETS |
|
|
Stock |
|
|
Debtors |
|
|
FIXED
ASSETS |
|
|
Plant,
Equipment, Vehicles |
|
|
Property |
|
|
CURRENT
LIABILITIES |
|
|
Creditors |
|
|
Loans/
From? |
|
|
Loan
Details |
|
|
LONG
TERM LIABILITIES |
|
|
Morgage
Bonds |
|
|
Previous
Year Turnover |
R
35000000.00 |
|
Estimated
Current Year Turnover |
R
35000000.00 |
|
Current
Turnover per month |
R
4000000.00 |
|
Current
Turnover per annum |
R
48000000.00 |
|
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 |
54 |
|
Active Principals Active Principal - 1 of 1 WENDY JONES |
|
|
Surname |
JONES |
|
First
Name |
WENDY |
|
Other
Names |
None |
|
Marital
Status |
|
|
ID
Number |
6002030064083 |
|
Verified
ID Number |
Yes |
|
Current
Age |
54
Years 6 Months |
|
Designation |
Member |
|
Status |
Active |
|
Appointment
Date |
2000/12/01 |
|
Physical
Address (at time of Appointment) |
7
COBBLESET LANE, PINETOWN, 3610 |
|
Postal
Address |
SUITE
142, POSTNET BOX 817, NEW GERMANY, 3620 |
|
Current
Tel Number |
0317013801 |
|
Cell
number |
0828742646 |
|
Shareholding/Membership |
100
% |
Principal's Adverse - No information on record
Business Information for WENDY JONES
Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
BLANCOAT
CC |
B2001/059598/23 |
In
Business |
13
Years 1 Months |
0 |
No |
|
|
PALM
COMMODITY DISTRIBUTORS CC |
B2000/011811/23 |
In
Business |
14
Years 2 Months |
0 |
No |
|
|
S
A PALM OIL CC |
B2000/020721/23 |
In
Business |
14
Years 2 Months |
0 |
No |
|
|
THEMBELA
TRAINING AND CONSULTING CC |
B2007/103187/23 |
Deregistration
Final |
7
Years 7 Months |
0 |
No |
|
Principal Previous Business Interests
Average
Age of Previous Business 10
Years
|
Company Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
SIQAMBA
MEDICAL (PTY)LTD |
M2004/016421/07 |
In
Business |
10
Years 10 Months |
0 |
No |
|
Principal Deeds Information
Property Interests for WENDY
JONES
|
Title
Deed No. |
ST19588/2008 |
Erf/Site
No. |
2292,0 |
|
Deeds
Office |
PIETERMARITZBURG |
Physical
Address |
32
CHURCH NEW GERMANY PINETOWN |
|
Property
Type |
U |
Extent
/ Size |
|
|
Purchase
Date |
2008/02/17 |
Purchase
price |
R
695000.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
NEDBANK
LTD |
|
Bond
Number |
SB170222008 |
Bond
Amount |
R
695000.00 |
|
Comment |
|
||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.62 |
|
|
1 |
Rs.99.12 |
|
Euro |
1 |
Rs.78.89 |
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.