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Report No. : |
331545 |
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Report Date : |
17.07.2015 |
IDENTIFICATION DETAILS
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Name : |
CHEM-I-PLAST (PTY) LTD |
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Formerly Known As : |
CHEM-I-PLAST (PVT) (PTY) LTD |
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Registered Office : |
2 Kirby Road, Ground Floor, Saffer House, Bedford Gardens, Bedfordview
Gauteng, P O Box 904, Bedfordview,
2008 |
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Country : |
South
Africa |
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Financials (as on) : |
16.07.2005 |
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Date of Incorporation : |
02.07.2003 |
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Legal Form : |
Private Company |
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Line of Business : |
Traders in specialty chemicals and plastics such as additive master
batches, biodegradable, compounds, colour moulding, PET master batches. |
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No. of Employees : |
22 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 Africa’s largest
and among the top 20 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. Economic growth has decelerated in recent years, slowing to just 1.5%
in 2014. Unemployment, poverty, and inequality - among the highest in the world
- remain a challenge. Official unemployment is roughly 25% of the work force,
and runs significantly higher among black youth. Eskom, the state-run power
company, is building three new power stations and is installing new power
demand management programs to improve power grid reliability. Load shedding and
resulting rolling blackouts gripped many parts of South Africa in late 2014 and
early 2015 because of electricity supply constraints that resulted from
technical problems at some generation units, unavoidable planned maintenance,
and an accident at a power station in Mpumalanga province. The rolling black
outs were the worst the country faced since 2008. Construction delays at two
additional plants, however, mean South Africa will continue to operate on a
razor thin margin; economists judge that growth cannot exceed 3% until
electrical supply problems are resolved. South Africa's economic policy has
focused on controlling inflation, however, the country faces structural
constraints that also limit economic growth, such as skills shortages, declining
global competitiveness and frequent work stoppages due to strike action. The
current government faces growing pressure from urban constituencies to improve
the delivery of basic services to low-income areas and to increase job growth.
|
Source
: CIA |
CHEM-I-PLAST (PTY) LTD
Formerly: CHEM-I-PLAST (PVT) (PTY) LTD, the name having been changed on
17 July 2003.
2 Kirby Road
Ground Floor
Saffer House
Bedford Gardens
Bedfordview
Gauteng
P O Box 904
Bedfordview
2008
+27 11 616 0111
+27 11 616 0114
100% MRS
T S M THOMAS
None
MRS T S M THOMAS ID
No. 7605170878184
R JOSE ID
No. 7102126201182
R JOSE ID
No. 7402106358188
NEDBANK, Meyersdal Branch. The subject enjoys overdraft facilities to an
extent of R100 000, secured by the personal guarantee of the shareholder.
Utilisation of the overdraft is stated to be seldom.
2 July 2003
Registration Certificate Number: 2003/015348/07
The subject commenced as a new business.
4740208048
9482328151
Traders in specialty chemicals and plastics such as additive master
batches, biodegradable, compounds, colour moulding, PET master batches.
The subject imports most of its supplies mainly from India and also, on
a smaller scale, from China and Europe. The
subject deals with the following South African clearing and forwarding agent:
AFRICAN LOGISTIC SERVICE, Johannesburg
Plastic and paint manufacturing industries
South Africa
Occasionally to Southern Africa.
22
None
The premises are reported to be leased
The following estimated financial situation was submitted as at 16 July
2015:
STOCK R 45 000 000
DEBTORS R 18 000 000
FIXED ASSETS – net book R 7 000 000
CREDITORS R 18 000 000
TURNOVER per annum R120
000 000
LAMBAT AND POCHEE, Johannesburg 011 837 9663
FEBRUARY
DISCOVERY
TRADE REFERENCES –
JULY 2007
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 2005 R200 000 R600
000 - 30 days 30 days+ Good
R700 000
TRADE REFERENCES –
NOVEMBER 2008:
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 03/2005 R800 000 R863
000 30 days 30 days Good
c/l at present
TRADE REFERENCES –
FEBRUARY 2009:
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 2005
R400 000 R300 000 - 30 days
30 days Good
R400 000
TRADE REFERENCES- MARCH 2011
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2005 R1 600 000 declined 30 days 30 days Very
good
c/l
TRADE REFERENCES – JANUARY 2015
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2005 R4 000 000 R2 000
000 30 days 30 days Very
good
c/l
CURRENT TRADE REFERENCES:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 1 year R2 000 000 ±R700
000 30 days 30 days Very
good
c/l
This is an established business which imports
most of its supplies. The subject is meeting its only local commitment
timeously and is considered equal to a maximum figure of US$500 000 over
30 days
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.50 |
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1 |
Rs.99.17 |
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Euro |
1 |
Rs.69.39 |
INFORMATION DETAILS
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Analysis Done by
: |
SAN |
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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 |
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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.