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Report No. : |
302509 |
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Report Date : |
09.01.2015 |
IDENTIFICATION DETAILS
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Name : |
AFRIVET BUSINESS MANAGEMENT (PTY) LTD |
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Formerly Known As : |
BASFOUR 2134 (PTY) LTD |
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Registered Office : |
Plot 21 New Mark Estate, Silverlakes Road, Hazeldean
Pretoria Gauteng, P O Box
2009, Faerie Glen, 0043 |
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Country : |
South Africa |
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Date of Incorporation : |
08.06.2000 |
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Com. Reg. No.: |
2000/011263/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Importers, Manufacturers and Distributors of
Animal Health Products such as Stock Remedies and Veterinary Medicine. |
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No. of Employees : |
38 |
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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 |
AFRIVET
BUSINESS MANAGEMENT (PTY) LTD
Formerly:
BASFOUR 2134 (PTY) LTD, the name having been changed on 18 October 2000.
AFRIVET
Plot 21 New Mark Estate
Silverlakes Road
HAZELDEAN
Pretoria
Gauteng
P
O Box 2009
FAERIE GLEN
0043
+27
12 817 9060
+27
12 809 0075
The
subject moved in October 2010 from the premises Block 1, Ground Floor, 107 Haymeadow
Street, Faerie Glen.
20% FISH RIVER VETERINARY SUPPLIES (PTY) LTD
(Registration Certificate Number: 1999/025219/07)
60% AFRIVET SOUTHERN AFRICA (PTY) LTD
(Registration Certificate
Number: 2003/005207/07)
20% SETA FAMILY TRUST
AFRIVET
ZAMBIA LTD (80%)
SERGEANT’S
PET CARE COMPANY (PTY) LTD (100%)
(Registration
Certificate Number: 2005/040615/07)
AFRIVET
PROPERTY AND LEASING (PTY) LTD
A R GIBBS
(Zimbabwe) DOB: 21 July 1967
L H LUDWIG ID
No. 7101055222086
X T MAKAPELA ID
No. 6109135544081
P T OBEREM ID
No. 5403115069081
J S ROBERTS (
STANDARD
BANK, Menlyn Park, account number:
012791989.
It
was stated that the subject enjoys an overdraft facility to an extent of R7 000
000, secured by a cession of debtors and the personal guarantee of the
directors. The respondent stated that
the overdraft is utilised for working capital purposes.
8
June 2000
Registration
Certificate Number: 2000/011263/07
The
subject was commenced as a new business in October 2000.
4160191690
9866013148
Importers,
manufacturers and distributors of animal health products such as stock remedies
and veterinary medicine.
The
respondent stated that the subject outsources the manufacturing to a 3rd
party.
The
subject imports raw materials and finished products from the UK, Spain and
deals with the following South African suppliers:
LOGWIN
LOGISTICS, Johannesburg
BURCHEM
RESEARCH, Johannesburg
AKULU
MARCHON, Johannesburg
IVAD
LOGISTICS, Johannesburg
Co-operatives
such as SENWES and OBARU
South
Africa
Neighbouring
countries
38
permanent employees and 17 agents
The
subject has a distribution centre in Isando which is managed by a 3rd
party namely IVAD LOGISTICS.
The
premises are reported to be owned by the associate property owning company.
R1
000 divided into 1 000 ordinary shares of R1 each
R10
FINANCIALS
The
following estimated financial situation was submitted as at 31 May 2014:
STOCK R 28 000 000
DEBTORS
R 34 000 000
FIXED ASSETS Net Book
R
160 000
CREDITORS R 20
000 000
SHAREHOLDERS LOANS R 2 000 000
TURNOVER per annum R 55 000 000
J
S JACOBS AND ASSOCIATES, Valhalla
FEBRUARY
ONCE
STEP BROKERS
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Old
acc R1 500 000 R1 000 000 30
days 30 days Good
Open
account -R1 500 000
2. 2006 R250 000 R70 000 30 days 30 days Good
c/l -R134 000
3. 2001 R1 000 000 R700 000 30 days 30 days Very
good
Open
account -R1
000 000
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 15 Years Open R
500 000- 30 days 30 days Very
good
R1 000
000
2. 2006 R600 000 R
200 000- 30 days 30 days Very
good
R 400 000
3. 10 Years Open R
800 000- 30 days 30 days Very
good
R1 000 000
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2004 R2 000 000 R 1
000 000- 30 days 30 days Very
good
R1 500
000
2. 18
years R1 000 000-1
500 000- 30 days 30 days Very
good
R 800 000
3. 14
Years R800 000 R1 100 000 30 days 30 days Excellent
This is an established business that is meeting its commitment timeously.
The subject is spoken of highly by his suppliers and is considered equal to its
normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.45 |
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1 |
Rs.95.99 |
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Euro |
1 |
Rs.75.28 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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Report Prepared
by : |
NIT |
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.