MIRA INFORM REPORT

 

 

Report No. :

497590

Report Date :

20.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

D B FINE CHEMICALS PTY LTD

 

 

Registered Office :

Unit 5 Woodview Office Park No 1 Humber Street Woodmead Gauteng 2128

 

 

Country :

South Africa

 

 

Date of Incorporation :

16.05.1995

 

 

Com. Reg. No.:

1995/004258/07

 

 

Legal Form :

Private Company

 

 

Line of Business :

The subject is involved in the import and distribution of fine chemicals. The subject is also involved in the supply of raw materials and packaging products.

 

 

No. of Employees :

10

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

B

 

Credit Rating

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

South Africa

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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.

Economic growth has decelerated in recent years, slowing to an estimated 0.7% in 2017. Unemployment, poverty, and inequality - among the highest in the world - remain a challenge. Official unemployment is roughly 27% of the workforce, and runs significantly higher among black youth. 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. 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 but has been plagued with accusations of mismanagement and corruption and faces an increasingly high debt burden.

South Africa's economic policy has focused on controlling inflation while empowering a broader economic base; 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 government faces growing pressure from urban constituencies to improve the delivery of basic services to low-income areas, to increase job growth, and to provide university level-education at affordable prices. Political infighting among South Africa’s ruling party and the volatility of the rand risks economic growth. International investors are concerned about the country’s long-term economic stability; in late 2016, most major international credit ratings agencies downgraded South Africa’s international debt to junk bond status.

 

Source : CIA

 

Executive Summary  

 

Subject was unresponsive. The subject is very well established. No judgments recorded against the subject. There are no principal judgments. A trade survey could not be obtained. In the absence of verified comprehensive information financial information and a payment pattern, we are unable to suggest any unsecured credit dealings.

 

 

COMPANY INFORMATION

 

OVERVIEW

 

History             DB FINE CHEMICALS (PTY) LTD was registered in May 1995 and commenced operations in

June 1995.

 

 

STATUTORY INFORMATION

 

Registered Name

D B FINE CHEMICALS

 

Registration Number

1995/004258/07

 

Type Of Company

Private Company

 

Registered Date

16/05/1995

 

Date Commenced Trading

16/05/1995

 

Commercial Status

In Business

 

 

 

CONTACT DETAILS

 

Contact Number

+27 11 807 2991

Email Address

accounts@dbfine.co.za

Fax Number

+27 11 807 0953

Website

www.dbfine.co.za

Social Media Presence

The subject does not have a social media presence.

Registered Physical Address

UNIT 5 WOODVIEW OFFICE PARK NO 1 HUMBER STREET WOODMEAD GAUTENG

South Africa 2128

Trading Physical Address

Unit 12; Woodview Office Park; 1 Humber Street

Woodmead

SANDTON Gauteng

South Africa 2128

Postal Address

P O Box 786

RIVONIA

Gauteng

South Africa 2128

 

 

 

GENERAL COMMENTS

 

The subject declined to provide any information or to update existing information as this information is deemed to be confidential. Any information contained in this report was obtained from outside sources and historical information dated July 2016 and is thus unconfirmed by the subject.

 

 

TAX INFORMATION

 

TAX INFORMATION

Income Tax Number                   9023056873

 

VAT INFORMATION

 

VAT Status                               The subject is registered for VAT (VAT number/s made available)

VAT Number                             4680153923

Status                                       Active

Registered Name                       D B FINE CHEMICALS PTY LTD

Trading Name                            D B FINE CHEMICALS PTY LTD

 

 

OFFICERS AND PROFESSIONAL SERVICES

 

LIST OF OFFICERS AND PROFESSIONAL SERVICES

 

Type

Name

Contact Name

Contact Number

Auditor

DE VOS RICHARDS

 

 

Insurance

HENEWAYS FREIGHT SERVICES

 

+27219351414

 

 

OWNERSHIP STRUCTURE

 

SHAREHOLDING INFORMATION

CURRENT

 

Shareholder/Member Name

Share/Interest

Type

Comment

 

BAUMANN FAMILY TRUST

100.00%

Shareholder

 

 

 

GENERAL COMMENTS

 

General Comments        It was stated that DB FINE SPECIALITIES (PTY) LTD (Registration Certificate Number: 2010/013299/07) is an associate company, however, further details were not disclosed.

 

 

PRINCIPAL INFORMATION

 

Director / Member

 

Full Name

ID No.

Type

Status

DOA

Active Interests

Previous Interests

Judgments

Fraud Listing

DION

BAUMANN

6209215240004

Director

Active

17/05/1995

0

0

0

0

PIETER HENDRIK VAN ZYL

4406115014008

Director

Resigned

16/05/1995

0

0

0

0

 

Management

No principals found for this principal type.

 

Officer

No principals found for this principal type.

 

Other

No principals found for this principal type.

 

 

BANK ACCOUNT INFORMATION

 

BANK ACCOUNTS

 

Account Reference Number

Account Holder

Account Number

Bank Name

Branch Name

Branch Code

Verification Status

ABB127517

D B FINE CHEMICALS (Pty) Ltd

1969086599

Nedbank (South Africa)

Northern Gauteng

16905

Unverified

 

 

OPERATIONAL ACTIVITIES

 

Operational Activities Status

The following information was provided

 

Industry

Wholesale

 

Major Industry SIC Code

46699 - Wholesale of industrial chemicals: niline, printing ink, essential oils, industrial gases, chemical glues, colouring matter, synthetic resin, methanol, paraffin, scents and flavourings, soda, industrial salt, acids and sulphurs, starch derivates etc.

 

NACE Code

46,75 - Wholesale of chemical products

 

MAJOR OPERATION

 

 

Major Business Activities

The subject is involved in the import and distribution of fine chemicals. The subject is also involved in the supply of raw materials and packaging products.

 

Agencies Held

Subject holds no agencies.

 

Franchises Held

The subject holds no franchises.

 

Major Suppliers

•           KIRSCH PHARMA

•           HENEWAYS

 

Major Customers

Subject declined to provide information.

 

Major Brands

Subject has brands, but declined information.

 

Major Contracts

Subject does not operate on a contract basis.

 

 

 

OPERATIONAL FOOTPRINT

 

Operational Footprint Status    The following information was provided

 

BRANCH & PREMISES INFORMATION

 

Location

Description/Type

Size (m2)

# of Staff

Rented or Owned

Lease Expiry Date

WOODMEAD

•           Warehouse

•           Office

 

 

 

N/A

 

 

EMPLOYEES

 

Permanent Employees

10

 

Salaried Employees

9

 

Waged Employees

1

 

 

 

COMPANY FLEET         

 

Total Vehicles

4

 

The fleet is made up of:

 

 

Cars / SUV's

3

 

 

Light Delivery Vehicles

1

 

 

 

 

FINANCING TERMS      

 

GENERAL COMMENTS

 

 

General Comments

Financing terms were declined.

 

FINANCIAL FIGURES

 

GENERAL COMMENTS

 

General Comments      Financial figures were not made available

 

 

TRADE REFERENCES

 

TRADE REFERENCES

 

Trade Reference

Date

Trade Score

Given (Taken)

in days

Limit Given

(Taken)

Account Opened

Trend (prev. 3

years)

Account Insured

Notes

TR18031968

19/03/2018

N/A

 

 

 

 

 

 

 

Dormant account

TR18031967

19/03/2018

N/A

 

 

 

 

50%

 

 

Awaiting response

LTR1607261

26/07/2016

N/A

 

 

 

 

 

 

 

This is a COD account that was last used in 2013. Dormant account

LTR16072217 22/07/2016

N/A

 

 

 

 

 

 

 

The account has not been utilised for some time. Dormant account

 

 

TRADE REFERENCE ANALYTICS

 

Number of valid Trade References

1

Overall Trade Score

50%

Average Usage of Terms

100%

Average Monthly Purchase

1,000,000 ZAR

Average Usage of Credit Limit

67%

 

GENERAL COMMENTS

                                                                                                                                                         

General Comments

Further creditor details were not made available for trade reference purposes.

 

 

COURT NOTICES

 

No judgments on file in the name of the subject

No liquidation applications on file in the name of the subject

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.04

UK Pound

1

INR 90.56

Euro

1

INR 79.78

ZAR

1

INR 5.42

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIS

 

 

Report Prepared by :

TRU

                                                


 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.