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Report Date : |
08.09.2014 |
IDENTIFICATION DETAILS
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Name : |
CONTINENTAL PRINTING INKS & PPS (PTY) LTD |
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Formerly Known As : |
DELTRADE 2 (PTY)
LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
21.06.1994 |
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Com. Reg. No.: |
1994/004206/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturers and distributors of printing inks |
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No. of Employees |
180 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
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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.
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Source
: CIA |
CONTINENTAL PRINTING INKS & PPS (PTY) LTD
Formerly: DELTRADE 2 (PTY) LTD, the name having been changed on 27
October 1994
PHYSICAL ADDRESS: 91
Mimetes Road
Cnr Strydom Street
Denver Ext 4
JOHANNESBURG
Gauteng
2100
POSTAL ADDRESS: P
O Box 25731
DENVER
2094
TELEPHONE NUMBER: +27 11 622 2826 / 2818
FAX NUMBER: +27
11 615 2700
100% MIMETES HOLDINGS (PTY) LTD
(Registration
Certificate Number: 2000/030315/07)
EAGLE INK HOLDINGS (PTY) LTD
(Registration Certificate Number:
1996/006620/07)
EAGLE INK SYSTEMS KZ NATAL (PTY) LTD
(Registration Certificate Number:
1997/019098/07)
EAGLE INK SYSTEMS (CAPE) (PTY) LTD
(Registration Certificate Number:
1996/007854/07)
EAGLE INK SYSTEMS (JHB) (PTY) LTD
(Registration Certificate Number: 1996/008055/07)
S W HAMMAN (Managing Director) ID
No. 6212115024007
J B BRINK (Sales Director) ID
No. 4502185041002
H VON MOLENDORFF (Financial Director) ID
No. 6508285021081
ABSA BANK, Northcliff Branch, Branch Code: 334705, Account Number: 730156707. It was stated that the subject enjoys overdraft facilities to an extent of R20 000 000, secured. Utilisation of the overdraft is stated to be nil as credit balances are normally maintained at the bank.
21 June 1994
Registration
Certificate Number: 1994/004206/07
The subject was registered to take over a close corporation that was registered in 1990 (Registration Certificate Number: 1990/006548/23). The subject also changed ownership in 1994.
VAT NUMBER: 4120144508
TAX NUMBER: 9041456204
It was stated that the subject is in the process of undergoing a BEE
audit for the first time.
Manufacturers and distributors of printing inks
The subject imports
raw materials from overseas and occasionally finished products from Germany and
imports from:
ARETS
C&W TRADE
SHAMROCK
ZELLER GROUP
FLINT
Previously, we have divulged the names of the
local 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.
Printing industry
AREA OF DISTRIBUTION AND
SELLING: South Africa
EXPORTS: Malawi,
Zambia, Zimbabwe, Botswana, Mozambique and Swaziland.
TOTAL EMPLOYEES: 180
The subject is
reported to have branches in Cape Town and Durban.
The Johannesburg,
Durban and Cape Town premises are reported to be owned within the group of
companies.
R1 000 000 divided into
1 000 000 ordinary shares of R1 each
The capital increased on 15 December 2000 from R1 000 divided into 1 000 ordinary R1 shares to current.
ISSUED SHARE CAPITAL: R1
000 000
Full financial information was not forthcoming from the respondent at the subject however, it was stated that estimated turnover is R230 000 000. The subject further stated that turnover has remained relatively consistent since the estimated figure of R230 000 000 was given in March 2012.
AUDITORS: LOUBSER
DU PLESSIS, Stellenbosch, +27 21 888 5600
YEAR END: JUNE
INSURANCE BROKERS: LIONEL
ISAACS INSURANCE BROKERS, Jhb
TRADE REFERENCES – MARCH 2007:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 1982 R
750 000 R 80 000 60
days 60 days Good
2. 5
years R1 000 000 R
500 000 - 30 days 30 days Very
Good
R1
000 000
3. 10
years R 200 000 R 177 000 30
days 30 days Not used that
frequently
TRADE REFERENCES – JUNE 2007:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 4 years R 200 000 R 177 000 30
days 30 days Good
c/l
2. July 2004 R 550 000 R 200 000- 30
days 30 days Very Good
c/l R 250 000
3. 4 years R2
000 000 R1 000 000 30 days 30
days Very Good
c/l
4. 8 years+ R2
500 000 fluctuates 15 days 15
days Very Good
c/l
TRADE REFERENCES – APRIL 2008:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2003 R 550 000 R 400 000 30
days 30 days Good
c/l
2a. Oct 2006 R2
500 000 R 300 000 7
days 7 days Good
c/l fluctuates
2b. Apr 2000 R 100 000 fluctuates 7 days 7
days Good
3. Old acc figures confidential 30 days 30 days Good
TRADE
REFERENCES – JULY 2008:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Old acc R4
000 000 R3 000 000 - 30 days 30
days Good
c/l R4 000 000
2. Apr 2000 R 100 000 R 7 000 - 7 days 7 days Good
c/l R 56 000
3. 1982 R1
500 000 R 20 000 - 60
days 60 days Good
R 100 000
TRADE REFERENCES – MAY 2009:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1.a) Apr 2000 R 100 000 R 100 000 7
days 7 days Good
c/l
1.b) Mar 2006 R2
500 000 R1 100 000 7 days 7
days Good
2. 2005 R 200 000 ±R
100 000 30 days 30 days Good
3. 10 years R2
000 000 ±R 800 000 30 days 30
days Good
c/l
TRADE REFERENCES – MARCH 2010
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1.a) Old R2 500 000 R1 500 000 30 days 30 days Very Good
1.b) Old
R 300 000 R 100 000 30
days 30 days Very Good
2. 13
years declined R
50 000- 30 days 30 days Very
Good
R 100 000
3.
Do not
give trade references
4.
Do not
give trade references
TRADE REFERENCES – NOVEMBER 2010:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Few
years R1 200 000 R
800 000- 30 days 30 days Very
Good
R1 000 000
2. Old
acc R 500 000+ R 100 000- 30 days 30 days Very Good
R 500 000
3. 2006 R2 500 000 R 100 000 30 days 30
days Very Good
c/l
TRADE REFERENCES – MARCH 2012:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2000 R5 000 000 R2 000 000- 30 days 30 days Excellent
R3 000 000
2. 2007 R
800 000 R 500 000 30
days 30 days Excellent
3. 12
years + open R 200 000- 30 days 30
days Excellent
R 300 000
4. Do
not give trade references
5. Do
not give trade references
6. Do
not give trade references
TRADE REFERENCES – JUNE 2014:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 8
years Open R 100 000- 30 days 30
days Good
R 130 000
2. April
2000 R 500 000 R 250 000 30
days 30 days Excellent
Insured:
LOMBARD
3. 5
years Open R 200 000 30 days 30
days Good
CURRENT TRADE REFERENCES:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1a. Apr
2000 R6 500 000 Up to 30
days 30 days Excellent
R1 700 000
1b. April
2000 R 500 000 R 250 000 30
days 30 days Excellent
Insured:
LOMBARD
2. Awaiting
email trade reference
3. Do
not give trade references
4. Do
not give trade references
(These descriptions relate respectively by number
to the above current trade transactions):
1. Sea
freight forwarding
2. Air
freight forwarding
This is an
established company meeting its commitments timeously and is spoken of highly
by its freight forwarding companies. The
subject is considered equal to its normal business engagements, however, the
lack of full financial information should be borne in mind.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.44 |
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UK Pound |
1 |
Rs.98.64 |
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Euro |
1 |
Rs.78.20 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
SDA |
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 |
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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.