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Report No. : |
341732.2 |
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Report Date : |
16.10.2015 |
IDENTIFICATION DETAILS
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Name : |
SUPAPACKERS FISH PROCESSORS (PTY) LTD |
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Registered Office : |
169 Neil Hare Road Atlantis Industrial Area Cape Town Western Cape, P O Box 1577 Dassenberg Atlantis 7350 |
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Country : |
South Africa |
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Date of Incorporation : |
24.06.2009 |
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Com. Reg. No.: |
2009/012426/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Subject is involved in the wholesale and processing of frozen fish
products. |
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No. of Employee : |
19 permanent staff. |
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 |
SUPAPACKERS FISH PROCESSORS (PTY) LTD
PHYSICAL ADDRESS
169 Neil Hare Road
ATLANTIS INDUSTRIAL AREA
Cape Town
Western Cape
POSTAL ADDRESS
P O Box 1577
DASSENBERG
Atlantis
7350
TELEPHONE NUMBER
+27 21 577 4777
FAX NUMBER
+27 21 577 4999
37.5% PACALUSE
TRUST
37.5% RABBI
TRUST
25.0% GESFIGASA
S.L
100% ATLANTIS
SEAFOOD PRODUCTS (PTY) LTD
Registration
Certificate Number 2010/018540/07
100% IMPERIAL
CROWN TRADING 436 (PTY) LTD
Registration
Certificate Number 2010/021773/07
78% SILVER
STREAMS SEAFOOD (PTY) LTD
Registration
Certificate Number 2010/024361/07
L M DE B FIGUEIREDO ID No. 7102185383087
S N DE B FIGUEIREDO ID No. 7308055575088
T L NEETHLING D.O.D. 1965/08/07
FIRST NATIONAL BANK, Willowbridge Branch. Branch Code 210554. Account Number 62046364486. The account is in
the name of SUPAPACKERS FISH PROCESSORS (PTY) LTD. It was stated that the subject enjoys
overdraft facilities, however, further information was not forthcoming.
24 June 2009
Registration Certificate Number: 2009/012426/07
SUPAPACKERS FISH PROCESSORS (PTY) LTD was
established in 2002 as a Close Corporation, Registration Certificate Number
2002/054319/23, which converted to a Private Company in June 2009.
4500202637
9433311140
Level 5 contributor Expiry
date: 22/04/2016
The subject is involved in the wholesale and
processing of frozen fish products.
The subject imports supplies as well as sourcing
supplies locally.
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.
Wholesalers and retailers in the FMCG
industry. All sales are made on 30 day
terms.
South Africa
The subject exports approximately R60 000 000 per annum.
19 permanent staff.
None
The premises which
consist of offices, warehouse, cold storage and a fish processing factory are reported
to be owned, but further information was not forthcoming.
The following estimated financial situation was
submitted as at 13 October 2015:
STOCK R 95 000 000
DEBTORS R 91 000 000
FIXED ASSETS R 12 000 000
PROPERTY, PLANT &
EQUIPMENT R 47 000 000
CREDITORS R 72 000 000
OVERDRAFT R 40 000 000
CAPITAL EMPLOYED R 84 000 000
TURNOVER per annum R500 000 000
NET PROFIT R 22 000 000
The subject has a
fleet of vehicles consisting of 4 large 2 ton trucks, 6 forklifts, 4 passenger vehicles
and 6 LDV’s.
C2M CHARTERED ACCOUNTANTS INC
Marycke Wall +27 21 914 0261
FEBRUARY
MARSH INSURANCE BROKERS
Yolanda Homer +27 21 834 1322
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT
EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. +5 years Open R1 500 000- 30 days 30
days Very Good
R2 000 000
2. Sept 2014 R7 000
000 R1 300 000 60 days 60
days Good
Coface
3. April 2012 Open -R1 500 000 14 days 14
days Very Good
(These descriptions relate respectively by number
to the above current trade transactions):
1. Fresh
and frozen fish
2. Freight
forwarding and clearing
3. Fresh
and frozen seafood
This is a well-established business in the
FMCG sector in South Africa. The subject
imports supplies and is meeting it local supplies timeously as per arranged
terms.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.64.82 |
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1 |
Rs.100.41 |
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Euro |
1 |
Rs.74.50 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
ANK |
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 |
-- |
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.