|
Report Date : |
26.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
NKUNZI PHARMACEUTICALS (PTY) LTD |
|
|
|
|
Formerly Known As : |
BELLENA TRADING 31 (PTY) LTD |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
11.03.2009 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacturers of Pharmaceutical Products. |
|
|
|
|
No of Employees : |
250 Permanent Employees and 100 Employees Through Labour Brokers |
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 |
|
Maximum Credit Limit : |
€200 000 |
|
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 |
NKUNZI PHARMACEUTICALS (PTY) LTD
Formerly: BELLENA TRADING 31
(PTY) LTD, the name having been changed on 30 March 2011
259 Davidson Road
Wadeville
Germiston
Gauteng
P O Box 14348
Wadeville
1422
+27 11 824 0562
+27 11 345 5369
J B MAGWAZA
H C R MALCOMESS
B MCDOWALL
N B SITHOLE
The shareholding percentages were unknown to the respondent at the
subject.
None
J B MAGWAZA ID
No. 4205055607080
H C R MALCOMESS ID No. 6010095018084
B MCDOWALL ID
No. 6105220174081
N B SITHOLE ID
No. 7212180294088
STANDARD BANK, Germiston Branch.
Account Number: 020552092. It was
stated that the subject has overdraft facilities available, however,
utilisation of the facility is stated to be nil as credit balances are
generally maintained at the bank.
11 March 2009
Registration Certificate Number:
2009/004879/07
A shelf company was utilised for registration purposes, however, trading
only commenced in 2011 after the subject underwent a name-change.
4820257121
9212568175
Level 4 contributor
Manufacturers of pharmaceutical products. It was stated that the subject carries the
name brand of the customers, e.g. MERCK, PROCTER AND GAMBLE, OPUS and ALLIANCE.
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.
Pharmaceutical companies
Gauteng
None
250 permanent employees and 100 employees through labour brokers
None
The premises are reported to be owned by the subject with an unknown
outstanding bond in favour of INVESTEC BANK.
R1 000 divided into 1 000 ordinary shares of R1 each
R100
The following estimated financial situation was submitted as at 18
September 2014:
STOCK R 13 000 000
DEBTORS R 17 000 000
CREDITORS R 7 000 000
TURNOVER per annum R131 000
000
MYERS TENNIER AND COMPANY
AUGUST
HAMPTON INSURANCE BROKERS
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Awaiting
email trade reference
2. 2009 Open R
400 000 30 days 30 days Very
Good
3. 2009 R
450 000 R 150 000 30 days 37
days Very Good
4. 5
years R3 500 000 R
50 000 30 days 30 days Excellent
NATURE OF GOODS OR SERVICES SUPPLIED:
(These descriptions relate respectively by number to the above current
trade transactions):
2. Raw Materials
3. Raw Materials
4. Pack Inserts and Cartons
This is a relatively newly established company meeting its commitments over terms at times but is spoken of highly by its suppliers. The subject is considered equal to its normal business engagements and to a maximum figure of €200 000 over 30 days.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.02 |
|
|
1 |
Rs.99.43 |
|
Euro |
1 |
Rs.77.84 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.