%20LTD%20-%20331506%2018-Jul-2015_files/image001.jpg){kind=small}
MIRA INFORM REPORT
|
Report No. : |
331506 |
|
Report Date : |
18.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
SEAL CHEMISTRY (PTY)LTD |
|
|
|
|
Registered Office : |
10 Darby Place Mariann Industrial Park, Pinetown, 3610, P O Box 34132, Northdene, 4064 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
02.04.1996 |
|
|
|
|
Com. Reg. No.: |
M1996/004075/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacturing and developing of coatings and adhesives. |
|
|
|
|
No. of Employees : |
25 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
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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) |
|
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 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 |
Company
summary
|
Subject Name |
SEAL CHEMISTRY |
|
Country |
South Africa |
|
Subject Contact Person |
Alisha (assistant to FM) |
|
Assessment |
This is an established business. On investigation contact
was made with Alisha. The subjects suppliers do not give trade references as
it is their company policy, we therefore have no payment pattern. We could
not obtain a bank code as account details have not been forthcoming. It would
be suggested dealings be fully secured. |
Company
Information
|
Registered Name |
SEAL CHEMISTRY (PTY)LTD |
|
Trading as/ Division Name |
None |
|
Previous Name |
None |
|
Date of Name Change |
N/A |
|
Registration Number |
M1996/004075/07 |
|
Registration Date |
1996/04/02 |
|
Date Commenced Trading |
1996 |
|
Age of Business |
19 Years 3 Months |
|
History of Business |
The business has always been in the Knox family. |
|
History of Principals |
|
|
Shareholders/Members/Partners of subject and % holding |
100% DOUGKNOX FAMILY TRUST |
|
Authorised Share Capital |
|
|
Issued Share Capital/Members Contribution |
|
|
Status |
In Business |
|
Operations Assessment |
Manufacturing and developing of coatings and adhesives. The
subject produces 30 000 tonnes of coatings per annum. |
|
Industry/ Customers |
Packaging and printing industry |
|
Export |
Yes |
|
Export Countries |
India |
|
Import |
|
|
Import Countries |
|
|
Major Industry Code / SICC |
33520 |
|
Definition of Code |
MANUFACTURE OF PAINTS,VARNISHES AND SIMILIAR COATINGS |
|
Head Office Physical Address |
10 DARBY PLACE MARIANN INDUSTRIAL PARK, PINETOWN, , 3610 |
|
Head Office Postal Address |
P O BOX 34132, NORTHDENE, 4064 |
|
Current Tel Number |
031 7910270 |
|
Cell Number |
|
|
Current Fax Number |
031 7910273 |
|
Current Email Address |
|
|
Web Site Address |
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|
Comments |
|
Auditors
Information
|
Company Registered Name |
PKF DURBAN |
|
Trading Name |
|
|
Registration Number |
|
|
Physical Address |
2nd Floor, 12 on Palm Boulevard, Palm Boulevard, Gateway,
Umhlanga, 4319 |
|
Postal Address |
|
|
Contact Person |
|
|
Contact Number |
031 5735000 |
|
Email |
|
|
Principals |
|
|
Judgements Against Subject |
|
|
Judgements Against Principals |
|
|
Subject Verified as Client |
|
|
Practice Number |
906352E |
|
VAT Number |
|
|
Tax Number |
|
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BEE Status |
|
|
Financial Year End |
|
|
No of years in Business |
5 Years 4 Months |
|
Website |
|
|
Comment |
|
Tax
Information
|
Vat
Number |
4190162620 |
|
Status |
|
|
Vat
Liable Date |
|
|
Tax
Number |
9191150201 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
February |
|
Comment |
|
Black
Economic Empowerment
|
Status |
Yes |
|
Score |
5.00 |
|
Expire
Date |
Aug
31 2015 |
|
BEE
Certificate Available |
Yes |
|
Comment |
|
ISO
Status
|
Type
of ISO Grade |
9001 |
|
ISO
Certificate |
Yes |
|
ISO
Certificate Available |
Yes |
|
Certified
by an Accredited Agent |
Yes |
|
Comment |
|
Workman's
compensation
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
|
Comment |
|
Company
Structure
Subsidiaries
Information - No Information on Record
Employees
|
Number of Employees |
25 |
|||
|
1. Salaried employees |
25 |
|||
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2. Waged employees |
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|||
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3. Permanent employees |
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|||
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4. Casual employees |
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|||
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5. Contracted employees |
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|||
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Comment |
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|||
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Company Fleet |
||||
|
Company Fleet |
No of vehicles: |
Owned/Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is made up of |
1 |
|||
|
Comment |
|
|||
|
Light delivery Vehicles |
1 |
Owned |
|
|
Offices
|
Offices |
Offices |
|
|
Head Office Owned/ Rented |
Owned |
|
|
Rental Company |
|
|
|
Owned by |
SEAL CHEMISTRY (PTY)LTD |
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|
Value |
|
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|
Bond |
|
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|
Bank |
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Lease Agreement |
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Lease Expire Date |
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Type of Premises |
Factory, offices and warehouse |
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Comment |
|
|
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Branch Information |
||
|
Branches Names |
Country |
Province |
|
Cape Town and Johannesburg |
South Africa |
Western Cape and
Gauteng |
|
Branch Detail Information |
||
|
Branches Owned/ Rented |
Leased |
|
|
Rental Company |
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|
Owned by |
|
|
|
Value |
|
|
|
Bond |
|
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|
Bank |
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|
Lease Agreement |
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|
Lease Expire Date |
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Type of Premises |
|
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|
Comment |
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Management
Overview
Organisation Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
Managing Director |
Mr D Knox |
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|
|
|||
|
2 |
Dep Managing
Director |
Mrs S Knox |
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|||
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3 |
Financial Director |
R R Marrier
Dunienville |
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|
|
|||
|
4 |
Technical Director |
G Angamuthoo |
|
Company Structure (Ownership)
Note: One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
100% DOUGKNOX FAMILY TRUST |
SEAL CHEMISTRY (PTY) LTD |
None |
|
Key
Deals - No Information on Record
Trade
References
|
Trade
Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
|
1 |
BASF |
011
2032424 |
|
|
|
|
2 |
Hi
tech Chemicals |
031
4649300 |
|
|
|
|
3 |
Sasol
Chemicals |
011
2800187 |
|
|
|
|
4 |
Turners
Shipping |
031
3321451 |
|
|
|
Trade References Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
|
|
|
|
|
|
Do not give trade
refs |
|
2 |
|
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|
|
|
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Do not give trade
refs |
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3 |
|
|
|
|
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Do not give trade
refs |
|
4 |
|
|
|
|
|
|
|
Adverse
Information on Subject
Judgements - No
information on record
BusinessRescue - No
Information on Record
Default Listing - No
information on record
Notarial Bonds - No
information on record
Bank
Information
|
Bank |
STANDARD BANK |
|
Branch |
Southdale |
|
Brach Code |
051001 |
|
Bank Account Number |
|
|
Type of Account |
|
|
Account Name |
|
|
Overdraft Facilities |
|
|
Bank Code |
|
|
Bank Comment |
Respondents declined to provide account number
telephonically and an email was sent. We cannot obtain a bank code unless
these details are received. |
Bank Code History -
No Information on Record
Previous Bank Account
Information - No Information on Record
Deeds
Information
Property Interests for Company SEAL CHEMISTRY
|
Title Deed No. |
T61261/2004 |
Erf/Site No. |
11370 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
10 DARBY 1625-0190-000 PINETOWN |
|
Property Type |
Freehold |
Extent / Size |
|
|
Purchase Date |
2004/05/14 |
Purchase price |
R1400000.00 |
|
% Ownership |
0.00 |
Bond Holder |
STANDARD BANK OF SOUTH AFRICA L |
|
Bond Number |
B537512004 |
Bond Amount |
R 980000.00 |
|
Comment |
|
||
Principals
|
Number of Principals |
4 |
|
Average Age of Active Principals |
44 |
|
Number of Inactive Principals |
|
Active Principals
Active Principal - 1
of 4
SHALANE KNOX
|
Surname |
KNOX |
|
First Name |
SHALANE |
|
Other Names |
|
|
Marital Status |
|
|
ID Number |
7907020181086 |
|
Verified ID Number |
Yes |
|
Current Age |
36 Years |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
2012/08/08 |
|
Physical Address (at time of Appointment) |
47 ELLIS BROWN ROAD, GLENWOOD, DURBAN, 4001 |
|
Postal Address |
P O BOX 34132, NORTDENE, 4064 |
|
Current Tel Number |
|
|
Cell number |
|
|
Shareholding/Membership |
0.00 |
Principal's Adverse -
No information on record
Business Information for SHALANE KNOX
Principal Current Business Interests
|
Company Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
SEAL
CHEMISTRY (PTY)LTD |
M1996/004075/07 |
In
Business |
19 Years 3 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
|
|
|
|
|
|
|
Principal Deeds Information
Property
Interests for SHALANE KNOX
|
Title Deed No. |
|
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
|
Comment |
|
||
Active Principal - 2 of 4
GONASEELAN ANGAMUTHOO
|
Surname |
ANGAMUTHOO |
|
First Name |
GONASEELAN |
|
Other Names |
|
|
Marital Status |
|
|
ID Number |
7102145169089 |
|
Verified ID Number |
Yes |
|
Current Age |
44 Years 5 Months |
|
Designation |
BUSINESS PERSON |
|
Status |
Active |
|
Appointment Date |
2010/03/01 |
|
Physical Address (at time of Appointment) |
4 16TH WAY CAMPBELL TOWN, MOUNT EDGECOMBE, 4051 |
|
Postal Address |
P O BOX 3771, MOUNT MORIAH, 4051 |
|
Current Tel Number |
|
|
Cell number |
|
|
Shareholding/Membership |
0.00 |
Principal's Adverse - No information on record
Business Information
for GONASEELAN ANGAMUTHOO
Principal Current
Business Interests
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
SEAL
CHEMISTRY (PTY)LTD |
M1996/004075/07 |
In
Business |
19
Years 3 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
|
|
|
|
|
|
|
Principal Deeds
Information
Property Interests
for GONASEELAN ANGAMUTHOO
|
Title Deed No. |
T32247/2006 |
Erf/Site No. |
255 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
4 16TH ROCKFORD PHOENIX |
|
Property Type |
E |
Extent / Size |
|
|
Purchase Date |
2006/03/20 |
Purchase price |
R 795000.00 |
|
% Ownership |
0.00 |
Bond Holder |
FIRSTRAND BANK LTD |
|
Bond Number |
B410772006 |
Bond Amount |
R 660000.00 |
|
Comment |
|
||
Active Principal - 3 of 4
RICHARD MARRIER DUNIENVILLE
Surname MARRIER DUNIENVILLE
First Name RICHARD
Other Names ROBERT
Marital Status
ID Number 7506275023082
Verified ID Number Yes
Current Age 40 Years 1 Months
Designation BUSINESS PERSON
Status Active
Appointment Date 2010/03/01
Physical Address
(at time of Appointment) 4 16TH WAY CAMPBELL TOWN, MOUNT EDGECOMBE, 4051
Postal Address P O BOX 3771, MOUNT MORIAH, 4051
Current Tel Number
Cell number
Shareholding/Membership 0.00
Principal's Adverse -
No information on record
Business Information for RICHARD MARRIER DUNIENVILLE
Principal Current Business Interests
|
Company Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
SEAL
CHEMISTRY (PTY)LTD |
M1996/004075/07 |
In
Business |
19 Years 3 Months |
0 |
No |
|
Principal Previous
Business Interests
Average Age of
Previous Business
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
|
|
|
|
|
|
|
Principal
Deeds Information
|
Property Interests for RICHARD MARRIER DUNIENVILLE |
|||
|
Title Deed No. |
ST52104/2002 |
Erf/Site No. |
668,9 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
40 TIGHARD WESTRIDGE BEREA |
|
Property Type |
U |
Extent / Size |
|
|
Purchase Date |
2002/06/19 |
Purchase price |
R 240000.00 |
|
% Ownership |
0.00 |
Bond Holder |
STANDARD BANK OF SOUTH AFRICA L |
|
Bond Number |
SB310082002 |
Bond Amount |
R 250000.00 |
|
Comment |
|
||
|
Property Interests for RICHARD MARRIER DUNIENVILLE |
|||
|
Title Deed No. |
ST48199/2007 |
Erf/Site No. |
668,9 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
40 TIGHARD WESTRIDGE BEREA |
|
Property Type |
U |
Extent / Size |
|
|
Purchase Date |
2007/07/30 |
Purchase price |
R 660000.00 |
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
R 0.00 |
|
Comment |
|
||
|
Property Interests for RICHARD MARRIER DUNIENVILLE |
|||
|
Title Deed No. |
T37348/2014 |
Erf/Site No. |
1501 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
WESTVILLE |
|
Property Type |
E |
Extent / Size |
2504.0SQM |
|
Purchase Date |
2014/07/08 |
Purchase price |
R3150000.00 |
|
% Ownership |
0.00 |
Bond Holder |
STANDARD BANK OF SOUTH AFRICA L |
|
Bond Number |
B197252014 |
Bond Amount |
R 2350000.00 |
|
Comment |
|
||
Active Principal - 4 of 4
DOUGLAS KNOX
|
Surname |
KNOX |
|
First Name |
DOUGLAS |
|
Other Names |
|
|
Marital Status |
|
|
ID Number |
5702105037085 |
|
Verified ID Number |
Yes |
|
Current Age |
58 Years 5 Months |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
1997/01/28 |
|
Physical Address (at time of Appointment) |
47 ELLIS BROWN ROAD, GLENWOOD, DURBAN, 4001 |
|
Postal Address |
P O BOX 34132, NORTHDENE, 4064 |
|
Current Tel Number |
|
|
Cell number |
|
|
Shareholding/Membership |
0.00 |
Principal's Adverse -
No information on record
Business Information for DOUGLAS KNOX
Principal Current Business Interests
|
Company Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
HENBASE
3031 (PTY)LTD |
M1966/011702/07 |
Dissolved |
48 Years 7 Months |
0 |
No |
|
|
SEAL CHEMISTRY (PTY)LTD |
M1996/004075/07 |
In Business |
19 Years 3 Months |
0 |
No |
|
Principal Previous Business
Interests
Average Age of
Previous Business 21 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
|
|
|
|
|
|
|
Principal Deeds Information
Property
Interests for DOUGLAS KNOX
|
Title Deed No. |
|
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
|
Comment |
|
||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.49 |
|
UK Pound |
1 |
Rs.99.43 |
|
Euro |
1 |
Rs.69.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
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.