|
Report No. : |
340846 |
|
Report Date : |
19.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
PROVIMI SSA (PTY) LTD |
|
|
|
|
Formerly Known As : |
NUTEC SOUTHERN AFRICA (PTY) LTD DUSJAN INVESTMENTS (PTY) LTD |
|
|
|
|
Registered Office : |
234 Royston Road Willowton Pietermaritzburg KwaZulu-Natal |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
21.02.1996 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacture of vitamins and mineral premixes used as additive for
livestock feed. |
|
|
|
|
No. of Employees : |
52 plus casuals at times |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 NAME: PROVIMI SSA (PTY) LTD
Formerly: NUTEC SOUTHERN AFRICA (PTY) LTD,
the name having been changed on 3 April 2013
Formerly: DUSJAN INVESTMENTS (PTY) LTD, the
name having been changed on 2 April 1997
PHYSICAL ADDRESS: 234 Royston Road
WILLOWTON
Pietermaritzburg
KwaZulu-Natal
POSTAL ADDRESS: P O Box 11387
DORPSPRUIT
3206
TELEPHONE NUMBER: +27 87 806
4000
FAX NUMBER: +27 86 505 9696
75% CARGILL RSA (PTY) LTD
25% ASTRAL FOODS LTD
The shareholding changed 2013 and was previously 75% PROVIMI HOLDINGS
and 25% ASTRAL FOODS LTD.
The shareholding changed on 1 December 2012 as was previously 50% ASTRAL
FOODS LTD (Registration Certificate Number: 1978/003194/06) (previously TIGER
FOOD INDUSTRIES LTD the name having been changed) – Quoted on the JSE LTD and 50%
PROVIMI HOLDINGS in Rotterdam, which in turn is owned by PROVIMI
NEADER FEEDS LTD in Mauritius
ASTRAL OPERATIONS LTD
COUNTY FAIR HOLDINGS (PTY) LTD
NATIONAL CHICK LTD
AFRICAN FEEDS LTD in Zambia
ROSS POULTRY BREEDERS (PTY) LTD
COUNTY FAIR FOOD (PTY) LTD
EARLY BIRD FARMS (PTY) LTD
Plus other companies within the ASTRAL group and CARGILL group.
M A POESCHL Ppt
No. 458561793
D A O SCHUURMAN D.O.B. 1971/11/26
D D FERREIRA ID
No. 5607025014082
G D ARNOLD ID No. 7209105306088
D HORDIJK Ppt
No. NP246P1F1
NEDBANK, Hayfields Branch, Account Number: 1340436655. It was stated
that the subject enjoys overdraft facilities to an extent of R15 000 000,
secured by a cession of debtors.
Utilisation is stated to fluctuate.
21 February 1996
Registration Certificate Number: 1996/002008/07.
The subject took over a dormant company and commenced active operations
on 1 November 1996. It was stated that
the subject bought out the ANIMAL PREMIX Sub Division of the MARINE OIL
REFINERIES Division from ASTRAL FOODS LTD (previously TIGER FOOD INDUSTRIES
LTD).
4400161255
9155806848
Level 8 contributor
Manufacture of vitamins and mineral premixes used as additive for
livestock feed
The subject imports supplies and deals locally with:
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.
Mills, wholesalers, farmers and agricultural industry
South Africa
Sub Saharan Africa (Mauritius, Madagascar, Zimbabwe, Malawi, Tanzania,
Mozambique, Swaziland and Botswana)
52 plus casuals at times
The subject has agencies in Middelburg (Mpumalanga), Klerksdorp,
Craddock, Escourt, Centurion, Villiersdorp, Underburg, Matatiele, Paarl and a
depot in Bot River.
The premises are reported to be leased
The following estimated financial situation was submitted as at 16
September 2015:
STOCK R 70 000 000
DEBTORS R 60 000 000
CREDITORS extended terms with foreign creditors R 76 000 000
TURNOVER per annum ±R500 000 000
DELOITTE & TOUCHE Pietermaritzburg
+27 33 345 0271
MAY
REEF INSURANCE BROKERS and AIG
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Old
acc R
500 000 R 500 000 30
days 30 days Very Good
2. 8
years R
80 000 R 80 000 30
days 30 days Excellent
3. 1997 R
750 000 R 250 000- 30
days 30 days Very Good
R 750 000
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 9 years R1 500 000 R 412 000 30 days 30
days Very Good
c/l R1 500 000
2. Closed for Christmas
Holidays
3. Do not give trade
references
4. Awaiting a trade
reference
5. Awaiting a trade
reference
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Old acc declined declined 30
days 30 days Good
2. 11 years R2 000 000 declined 30
days 30 days Very Good
c/l
3. 7 years R 150 000 R150
000 30 days 30 days Very Good
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Undisclosed None R100
000 30 days 30 days Good
2. Sister company (will
give them whatever they need)
3. 1999 Undisclosed R100 000- 30
days 30 days Good
c/l
(Insured) R150 000
4. April 1997 R2 200 000 Varies 30
days 30 days Good
(Insured)
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 1997 R3 000 000 R1 000 000- 30 days 30
days Excellent
R1 500
000
2. 15 years No limit R 700 000 30 days 30
days Good
3. Unable to obtain trade
reference
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT
EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Old
acc R1 500 000 R700 000 30
days 30 days Very Good
2. 1989 R3 000 000 Declined 30
days 30 days Very Good
3. Awaiting
email trade reference
4. Do
not give trade references
(These descriptions relate respectively by number to the above current
trade transactions):
1. Premixes
2. Animal nutrition
3. Shipper
4. Shipper
This is an established and well-connected company meeting its
commitments timeously.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.93 |
|
UK Pound |
1 |
Rs.102.75 |
|
Euro |
1 |
Rs.75.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TRU |
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.