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Report No. : |
333381 |
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Report Date : |
30.07.2015 |
IDENTIFICATION DETAILS
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Name : |
D B FINE CHEMICALS (PTY) LTD |
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Registered Office : |
Unit 12 |
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Country : |
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Date of Incorporation : |
16.05.1995 |
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Com. Reg. No.: |
1995/004258/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Importer and Distributors of Fine Chemicals Raw Materials and
Capsules. |
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No. of Employees : |
10 |
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 |
COMPANY NAME: D
B FINE CHEMICALS (PTY) LTD
PHYSICAL ADDRESS: Unit
12 Woodview
WOODMEAD
Sandton
POSTAL ADDRESS:
RIVONIA
2128
TELEPHONE NUMBER: +27
11 807 2991
FAX NUMBER: +27
11 807 0953
100% D BAUMANN
EIFEL PROPERTY (PTY) LTD
(Registration Certificate Number: 1999/008408/07)
MAKARIOS
PROPERTY (PTY) LTD (property owning company)
(Registration
Certificate Number: 2003/024640/07)
D BAUMANN (Sole director) ID No. 6209215240004
NEDBANK,
Rivonia Branch, Account Number: 1969086599. It was stated that the subject does not
require overdraft facilities as credit balances are maintained at the
bank.
16
May 1995
Registration
Certificate Number: 1995/004258/07
D
B FINE CHEMICALS (PTY) LTD was established in May 1995.
It
was stated that prior to commencing the subject D BAUMANN was the Managing
Director of E I ROGOFF CHEMICALS (PTY) LTD for 6 years, however, it was stated
that he was involved in the latter group for approximately 15 years.
VAT NUMBER: 4680153923
TAX NUMBER: 9023056873
BBBEE STATUS: Level 6 contributor
Importers
and distributors of fine chemicals raw materials and capsules.
The
subject imports 95% of its supplies.
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
industry
South
Africa
Occasionally
to Namibia and Zimbabwe
10
None
The
heading premises are reported to be owned by EIFEL PROPERTIES (PTY) LTD
(reported to be owned by D BAUMANN), free of bond.
The
following estimated financial situation was submitted as at 24 July 2015:
STOCK fluctuates R 1 500 000
DEBTORS R 3 000 000
FIXED ASSETS R 1 500 000
CREDITORS R 1 500 000
TURNOVER per annum R80
000 000
DE
VOS RICHARDS, Johannesburg. +27 11 675 1866
FEBRUARY
THE
BROKERAGE INSURANCE BROKERS
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2003 R400 000 R250 000 30 days 30 days Good
c/l
2. Aug 2003 R 25 000 sporadic 30 days 30 days Good
c/l
3. 2000 R 50 000 R 25 000 - 30
days 30 days Very Good
R 50 000
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2003 R400
000 R250 000 - 30 days 30
days Very good
R315
000
2. Do not give trade references
3. 2001 R25 000 R 15 000 - 30 days 30
days Very good
R 20 000
4. 2003 R25 000 declined 30
days 30 days Good
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 4 years R400
000 R350 000 30 days 30 days Very good
2. Do not give trade references
3. 2001 R 25 000 R 5 000 - 30
days 30 days Excellent
R 25 000
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2003 R1
100 000 R600 000 30 days 30/45 days Good
2. 2001 R 25 000 R 8 000- 30
days 40 days Good
c/l R
76 000
3. 2008 R 25 000 R 3 000- 30
days 30 days Excellent
c/l R
20 000
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 6
years R1 100 000 R300 000 30
days 30 days Very good
c/l
2. 2001 R 25 000 R 10 000- 30
days 30+ days Good
3. 2
years declined figures 30
days 30 days Excellent
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2003 R 25 000 R 75 000+ 30 days 30
days Excellent
c/l
2. 2
years R1 100 000 R480 000 30 days 30 days Good
c/l
3. 9+
years R 40 000 R 10 000 30 days 30
days Excellent
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 5
years R1 000 000 R500 000- 30 days 30 days Excellent
c/l R800 000
2. Last
purchased August 2010
3. 10
years R100 000 R
25 000- 30 days 30 days Very
Good
R100 000
4. 10+
years R100 000 R50 000 30 days 30 days Good
c/l
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 11
Years R150 000 R
80 000 30 days 30 days Problematic
Outstanding
discrepancy of R25 000 since December 2011
2. 5
Years + R1 000 000 R1 000 000 30 days 30 days Excellent
3. 12˝
Years R100 000 R
3 000- 30 days 30-45 days Good
R 80 000
4. Last
purchases in 2009
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1.
Unable
to obtain trade reference
2.
Dec
2012 R2 000 000 R
750 000- 30 days 30 days Very
Good
R1 000 000
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Sept
2012 R2 000 000 R
500 000- 30 days 30 days Very
Good
R 700 000
2. C.O.D.
The subject purchases in bulk once a year
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT
EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2010 R2 000
000 R900 000 30 days 30
days Very Good
(These descriptions relate respectively by number to
the above current trade transactions):
1. Shipper
This is an established business which imports most of its supplies. The subject is meeting local commitment timeously. The subject is spoken of highly by its supplier.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.63.89 |
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|
1 |
Rs.99.71 |
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Euro |
1 |
Rs.70.63 |
INFORMATION DETAILS
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Analysis Done by
: |
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.