|
Report Date : |
30.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
CURE-CHEM SOUTH AFRICA (PTY)LTD |
|
|
|
|
Registered Office : |
Unit
1-A, Khulani Business Park, Corner: Kelly Road/Yaldwyn Road, Jetpark,
Boksburg, Johannesburg,1467, P O Box 374, Edenvale, 1610 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
2005/10/31 |
|
|
|
|
Com. Reg. No.: |
M2005/038739/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacture
of basic chemicals, except fertilizers & nitrogen compounds |
|
|
|
|
No of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Deregistration Process |
|
Payment Behaviour : |
-- |
|
Litigation : |
-- |
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 |
CURE-CHEM
SOUTH AFRICA (PTY)LTD |
|
Country |
South
Africa |
|
Subject
Contact Person |
MARTINA
- FINANCIAL MANAGER / JENINE - PROCUREMENT MANAGER |
|
Assessment |
On
investigation contact was made with MARTINA the financial manager and JENINE
the procurement manager declined to assist unless the principal enquirer is
revealed. Please see the available information obtained from CIPC on the
subject below. |
|
Registered
Name |
CURE-CHEM SOUTH AFRICA
(PTY)LTD |
|
Trading
as/ Division Name |
CURE-CHEM
SOUTH AFRICA |
|
Previous
Name |
Unavailable |
|
Date
of Name Change |
Jul
3 2002 12:00AM |
|
Registration
Number |
M2005/038739/07 |
|
Registration
Date |
2005/10/31 |
|
Date
Commenced Trading |
2005-10-31 |
|
Age
of Business |
9
Years |
|
History
of Business |
The
subject was established in 2005-10-31. The subject is in operation for the
past 9 years. The subject underwent a name change in 2002-07-03. |
|
History
of Principals |
There
are 3 active directors within the company. |
|
Shareholders/Members/Partners
of subject and % holding |
CURECHEM
GROUP |
|
Authorised
Share Capital |
|
|
Issued
Share Capital/Members Contribution |
|
|
Status |
Deregistration
Process |
|
Operations
Assessment |
The
subject operates has a leading supplier of high quality chemicals. |
|
Industry/
Customers |
The
subject supply's to the industrial and mining sectors. |
|
Export |
Yes |
|
Export
Countries |
India |
|
Import |
|
|
Import
Countries |
|
|
Major
Industry Code / SICC |
33410 |
|
Definition
of Code |
Manufacture
of basic chemicals, except fertilizers & nitrogen compounds |
|
Head
Office Physical Address |
UNIT
1-A, KHULANI BUSINESS PARK, CORNER: KELLY ROAD/YALDWYN ROAD, JETPARK,
BOKSBURG, JOHANNESBURG,1467 |
|
Head
Office Postal Address |
P
O BOX 374, EDENVALE, 1610 |
|
Current
Tel Number |
0113976364 |
|
Cell
Number |
0713600228 |
|
Current
Fax Number |
0113976357 |
|
Current
Email Address |
|
|
Web
Site Address |
|
|
Comments |
|
|
Company
Registered Name |
SOLLY
NOOR MOHAMMED |
||||
|
Trading
Name |
|
||||
|
Registration
Number |
|
||||
|
Physical
Address |
|
||||
|
Postal
Address |
P
O BOX 42925, FORDSBURG, 2033 |
||||
|
Contact
Person |
|
||||
|
Contact
Number |
|
||||
|
Email |
|
||||
|
Principals |
|
||||
|
Judgements
Against Subject |
|
||||
|
Judgements
Against Principals |
|
||||
|
Subject
Verified as Client |
|
||||
|
Practice
Number |
934127E |
||||
|
VAT
Number |
|
||||
|
Tax
Number |
|
||||
|
BEE
Status |
|
||||
|
Financial
Year End |
|
||||
|
No
of years in Business |
Unknown |
||||
|
Website |
|
||||
|
Comment |
No
contact information could be established. |
||||
|
Previous Auditors |
|||||
|
Company
Name |
Phone
Number |
Time
with previous auditors |
Comment |
|
|
|
KARIOLIA
JEENA |
|
|
|
|
|
|
Vat
Number |
4120199767 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
2002/09/01 |
|
Tax
Number |
9404173149 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
February |
|
Comment |
|
Black Economic Empowerment
Information - No Information on Record
ISO Status
|
|
|
Type
of ISO Grade |
900:2000 |
|
ISO
Certificate |
Yes |
|
ISO
Certificate Available |
No |
|
Certified
by an Accredited Agent |
Yes |
|
Comment |
|
Work Mans Information
- No Information on Record
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
|
Branches
Names |
Country |
Province |
|
|
|
|
|
Branch
Detail Information |
||
|
Branches
Owned/ Rented |
|
|
|
Rental
Company |
|
|
|
Owned
by |
|
|
|
Value |
|
|
|
Bond |
|
|
|
Bank |
|
|
|
Lease
Agreement |
|
|
|
Lease
Expire Date |
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|
|
Type
of Premises |
|
|
|
Comment |
The
subject has 12 branches. |
|
Organisation Chart
|
Level |
Position |
Name |
Comment |
|
1 |
Director |
ANUP CHAND |
|
|
1 |
Director |
MANOJ JOSHI |
|
|
1 |
Director |
URMIL MAHAJAN |
|
Company Structure
(Ownership)
Note: One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
CURECHEM
GROUP |
CURE-CHEM
SOUTH AFRICA (PTY)LTD |
|
|
Key Deals - No
Information on Record
Trade References Information
- No Information on Record
Judgements - No
information on record
BusinessRescue - 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
Property Interests
for Company CURE-CHEM SOUTH AFRICA (PTY)LTD
|
Title
Deed No. |
ST89973/2002 |
Erf/Site
No. |
3006 |
|
Deeds
Office |
JOHANNESBURG |
Physical
Address |
3
PHLOX GERMISTON |
|
Property
Type |
Sectional
Title |
Extent
/ Size |
|
|
Purchase
Date |
2002/08/15 |
Purchase
price |
R120000.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
EUA |
|
Bond
Number |
SK20761997S |
Bond
Amount |
R
0.00 |
|
Comment |
|
||
|
|
|||
|
Title
Deed No. |
T70128/2007 |
Erf/Site
No. |
26 |
|
Deeds
Office |
JOHANNESBURG |
Physical
Address |
2276-0080-000
GERMISTON |
|
Property
Type |
Freehold |
Extent
/ Size |
|
|
Purchase
Date |
2007/08/09 |
Purchase
price |
R
2750000.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
FIRSTRAND
BANK LTD |
|
Bond
Number |
B992692007 |
Bond
Amount |
R
2820000.00 |
|
Comment |
|
||
|
|
|||
|
Title
Deed No. |
T71330/2006 |
Erf/Site
No. |
126 |
|
Deeds
Office |
JOHANNESBURG |
Physical
Address |
2277-0940-000
GERMISTON |
|
Property
Type |
Freehold |
Extent
/ Size |
|
|
Purchase
Date |
2006/07/24 |
Purchase
price |
R
4200000.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
FIRSTRAND
BANK LTD |
|
Bond
Number |
B993492006 |
Bond
Amount |
R
3948000.00 |
|
Comment |
|
||
|
Number
of Principals |
3 |
|
Average
Age of Active Principals |
52 |
|
Active Principals Active Principal -
1 of 3 ANUP CHAND |
|
|
Surname |
CHAND |
|
First
Name |
ANUP |
|
Other
Names |
|
|
Marital
Status |
|
|
ID
Number |
|
|
Verified
ID Number |
No |
|
Current
Age |
62
Years 5 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2005/10/31 |
|
Physical
Address (at time of Appointment) |
THE
COLONNADE, 1 STEVEN DRIVE, MSASA, ZIMBABWE, 0000 |
|
Postal
Address |
P
O BOX GD943, GREENDALE, HARARE, ZIMBABWE, 0000 |
|
Current
Tel Number |
0113976364 |
|
Cell
number |
|
|
Shareholding/Membership |
0.00 |
Principal's
Adverse - No information on record
Business Information
for ANUP CHAND
Principal Current
Business Interests
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
CURE-CHEM
SOUTH AFRICA (PTY)LTD |
M2005/038739/07 |
Deregistration
Process |
9
Years 9 Months |
0 |
No |
|
Principal's Previous
Business Interests - No information on record
Principal's Deeds
Information - No information on record
Active Principal - 2
of 3
MANOJ JOSHI
|
Surname |
JOSHI |
|
First
Name |
MANOJ |
|
Other
Names |
|
|
Marital
Status |
|
|
ID
Number |
|
|
Verified
ID Number |
No |
|
Current
Age |
41
Years 2 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2005/10/31 |
|
Physical
Address (at time of Appointment) |
1
FLANDERS BUILDING, 33 QUALITY STREET, ISANDO, 1600 |
|
Postal
Address |
P
O BOX 374, EDENVALE, 1600 |
|
Current
Tel Number |
0113976364 |
|
Cell
number |
|
|
Shareholding/Membership |
0.00 |
Principal's
Adverse - No information on record
Business Information for
MANOJ JOSHI
Principal Current
Business Interests
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
CURE-CHEM
SOUTH AFRICA (PTY)LTD |
M2005/038739/07 |
Deregistration
Process |
9
Years 9 Months |
0 |
No |
|
Principal's Previous
Business Interests - No information on record
Principal's Deeds
Information - No information on record
Active Principal - 3
of 3
URMIL MAHAJAN
|
Surname |
MAHAJAN |
|
First
Name |
URMIL |
|
Other
Names |
|
|
Marital
Status |
|
|
ID
Number |
|
|
Verified
ID Number |
No |
|
Current
Age |
55
Years 8 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2005/10/31 |
|
Physical
Address (at time of Appointment) |
THE
COLONNADE, 1 STEVEN DRIVE, MSASA, ZIMBABWE, 0000 |
|
Postal
Address |
P
O BOX 943, GREENDALE, HARARE, ZIMBABWE, 0000 |
|
Current
Tel Number |
0113976364 |
|
Cell
number |
|
|
Shareholding/Membership |
0.00 |
Principal's
Adverse - No information on record
Business Information
for URMIL MAHAJAN
Principal Current
Business Interests
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
CURE-CHEM
SOUTH AFRICA (PTY)LTD |
M2005/038739/07 |
Deregistration
Process |
9
Years 9 Months |
0 |
No |
|
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.61.32 |
|
|
1 |
Rs.99.00 |
|
Euro |
1 |
Rs.78.14 |
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.