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Report Date : |
25.09.2014 |
IDENTIFICATION DETAILS
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Name : |
DELTA COLOURS (PTY) LTD |
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Formerly Known As : |
SHELF-LINE 165 (PTY) LTD |
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Registered Office : |
71 Village Artisan, |
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Country : |
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Date of Incorporation : |
09.03.2009 |
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Legal Form : |
Private Company |
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Line of Business : |
Importer and Distributors of Colour Pigments. |
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No of Employees : |
12 |
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
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
South Africa |
A2 |
A2 |
|
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.
|
Source
: CIA |
DELTA COLOURS (PTY) LTD
Formerly: SHELF-LINE 165 (PTY) LTD, the name having changed on 13 May
2009
71 Village Artisan
Cabriere Street
Franschhoek
Western Cape
P O Box 7690
FRANSCHHOEK
7690
+27 21 876 4167
+27 21 876 3201
67.67% THE ABE LOUW FAMILY TRUST
33.33% SCHEEPERS AZAR TRUST
The shareholding changed and was previously:
67% THE LOUW FAMILY TRUST
33% H P SCHEEPERS
The shareholding changed and was previously 100% THE ABE LOUW FAMILY TRUST.
None
S A C LOUW ID
No. 6406125118086
H P SCHEEPERS ID
No. 7412135088086
FIRST NATIONAL BANK, Paarl Branch.
Branch Code: 200110. Account
Number: 62225809625. It was stated that
the subject enjoys overdraft facilities to an extent of R7 500 000,
secured by a cession of debtors and stock inventory. Utilisation of the overdraft is stated to be
full at present.
9 March 2009
Registration Certificate Number: 2009/004675/07
It was stated that the subject was registered to take over the assets
and operations of an existing company NUBIOLA SA (PTY) LTD (dormant)
Registration Certificate Number: 2006/020919/07, when the management of the
company bought the shareholders out.
4750253306
9405656167
It was stated that the subject is in the
process of applying for their BEE certification.
Importers and distributors of colour pigments.
The subject imports 100% of its supplies from Spain, Columbia, China,
USA and India and deals locally with suppliers.
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.
Manufacturing sectors of plastics, coatings, construction and inks
South Africa
Sub-Saharan Africa
12 having increased from 11 reported in 2013
The subject has warehouses in Cape Town, Johannesburg and Durban
The premises are reported to be owned by the subject with an outstanding
bond of R1 800 000 and a market value estimated at R3 500 000.
R1 000 divided into 1 000 ordinary shares of R1 each
R120
The following estimated financial situation was submitted as at 22
September 2014:
STOCK R21 000 000
DEBTORS R11 000 000
CREDITORS R10 000 000
OVERDRAFT R 3 300 000
TURNOVER per annum R80 000 000
BOSSOF VISSER Bellville +27 21 914 9604
FEBRUARY
DUX SOLUTIONS INSURANCE BROKERS
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 4 years R1 200 000 ±R800
000 30 days 7-15 days Excellent
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Jan 2011 R600 000 R504 000 7
days 12 days Very Good
2. Unable to obtain
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 3 years Open R500 000- 30 days 30
days Excellent
R700
000
2. Do not give trade
references
3. 2 years R300 000 R
55 000 30 days 30 days Good
Insured:
LOMBARD
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Do not give trade
references
2. Do not give trade
references
3. 2 years R300 000 ±70 000 30 days 30
days Good
Insured:
Lombard
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Do not give trade
references
2. Dec 2011 R 300 000 R 100 000 30
days 30 days Excellent
3. Do not give trade
references
NATURE OF GOODS OR SERVICES SUPPLIED:
(These descriptions relate respectively by number to the above current
trade transactions):
2. Freight Forwarder
This is an established company that took over the assets and operations of
an established business. The subject is meeting its one local obtainable
commitment timeously. The subject is
considered equal to its normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.03 |
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|
1 |
Rs.99.99 |
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Euro |
1 |
Rs.78.37 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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 |
|
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 |
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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 |
-- |
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.