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Report No. : |
308863 |
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Report Date : |
28.02.2015 |
IDENTIFICATION DETAILS
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Name : |
MARLYN CHEMICALS (PTY) LTD |
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Registered Office : |
64 Nasmith Avenue, Jupiter Ext
5, HERIOTDALE, Ermiston, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
30.03.1990 |
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Com. Reg. No.: |
1990/001843/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Subject is engaged in import and distribution of chemicals such as
cyanide, flocculants and activated carbons. |
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No. of Employee : |
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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 |
MARLYN
CHEMICALS (PTY) LTD
64 Nasmith Avenue
Jupiter
Ext 5
HERIOTDALE
Germiston
Gauteng
P O Box 39428
BOOYSENS
2016
TELEPHONE
NUMBER: +27 11 873 2117
FAX
NUMBER: +27 11 873
2176
The subject moved in October 2010 from 27
Helvellyn Road, The Hill, Johannesburg, contact telephone number: +27
11 436 0683
100% THE PALMER FAMILY TRUST, in
which L R PALMER is the Trustee
CARBON
ASSOCIATES (PTY) LTD
(Registration
Certificate Number: 1986/002275/07)
JOHLES
PRODUCTS (PTY) LTD
(Registration
Certificate Number: 1998/000350/07)
MARLYN
ENVIRONMENTAL (PTY) LTD
(Registration
Certificate Number: 2003/026529/07)
MARLYN VULINDLELA
(PTY) LTD
(Registration
Certificate Number: 2003/011805/07)
L
R PALMER ID
No. 5010015034006
STANDARD BANK, Corporate Branch, Sandton
Account Number: 022671048. It was stated
that the subject enjoys overdraft facilities to an extent of R15 000 000,
secured by the personal guarantee of L R PALMER. Utilisation of the overdraft is stated to be
seldom.
30
March 1990
Registration
Certificate Number: 1990/001843/07.
L R
Palmer was previously a sales manager at H L & H Timbers.
In 1987 he commenced Carbon
Associates (Pty) Ltd, which was involved in the sale of activated
carbon. In 1990 he acquired the full
agency of Lanka Carbons which was
then re-registered as Marlyn Chemicals
(Pty) Ltd in March 1990.
VAT NUMBER: 4100103599
TAX NUMBER: 9385212841
BEE STATUS: Non-compliant
Import and distribution of chemicals such as
cyanide, flocculants and activated carbons.
The
subject imports most of its supplies 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.
Mining industry, water treatment companies
as well as municipalities.
South Africa.
Southern Africa
12
The premises are
reported to be owned by THE PALMER FAMILY TRUST and valued in the region of
R6 000 000, free of bond.
The following estimated financial situation was
submitted as at 20 February 2015:
STOCK R 20 000 000
DEBTORS R 10 000 000 – R 13 000 000
FIXED ASSETS R 1 000 000
CREDITORS R 5 000 000
TURNOVER per annum R120 000
000
HLB BARNETT CHOWN, +27 11 856 5300
AUGUST
GARRUN GROUP INSURANCE BROKERS
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 11 years R500 000 R400
000 30 days 30 days Very Good
2. 3 years R50 000 R50 000 30 days 30
days Good
3. 10 years R250 000 R250
000 30 days 30 days Excellent
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 10 years+ R250
000+ R250 000 30 days 30 days Very Good
(anything over)
2. 10 years+ R500
000 R300 000 - 30 days 30
days Very Good
(or more) R400 000
3. 2005 Undisclosed R250 000 30
days 30 days Very Good
4. Do not give trade references.
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 10 years R800
000 R800 000 30 days 30 days Very Good
2. Old acc open R
10 000- 30 days 30 days Very
Good
3.
Do not give trade references
4.
Do not give trade references
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 10 years R1 000 000 R1 000 000 30 days 30 days Very Good
Up
to
2. 12 years R500 000 R
500 000 30 days 30 days Very
Good
Up
to
3.
Do not give trade references
4.
Do not give trade references
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 12 years R1 000 000 R300 000 30 days 30 days Very Good
2. 15 years open R1 000 000 30 days 30
days Very Good
3.
Do not give trade references
4.
±5 years undisclosed R2 000 000 30 days 30 days Excellent
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 13 years R1 000 000 R
500 000- 30 days 30 days Excellent
R1 000
000
2. 13 years Open R 600 000 30
days 30 days Excellent
3. Do not
give trade references
4. Jul 2005 R
350 000 Declined 30 days 30
days Good
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. +10 years R1 000 000 R
500 000 30 days 30 days Very
Good
2. +15 years Open R
300 000 30 days 30 days Very
Good
3. Do not give trade references
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT
EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. +10 years R2 000
000 R500 000- 30 days 30
days Very Good
Insured CGIC R1 000 000
2. +20 years Open R100 000 30 days 30 days Excellent
3. +10 years R350
000 R300 000 30 days 30 days Very Good
(These descriptions
relate respectively by number to the above current trade transactions):
1. Freight
2. Various chemicals
3. Chemicals
This is an established company meeting its commitments
timeously and is regarded highly by its suppliers. The subject is considered equal to its normal
business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.79 |
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|
1 |
Rs.95.42 |
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Euro |
1 |
Rs.69.28 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ASH |
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.