MIRA INFORM REPORT

Report No. :	506855
Report Date :	12.05.2018

IDENTIFICATION DETAILS

Name :	SABINSA SOUTH AFRICA (PTY) LTD
Registered Office :	3 Belkev House 20 Basalt Avenue 3Rd Floor Amalgam Johannesburg Gauteng South Africa 2025
Country :	South Africa
Date of Incorporation :	14.09.2004
Com. Reg. No.:	2004/025857/07
Legal Form :	Private Company
Line of Business :	The subject is involved in the wholesale of herbal extracts, cosmeceuticals, minerals, dietary supplements and specialty fine chemicals.
No. of Employees :	Not Available

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd 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

COMPANY INFORMATION

OVERVIEW

History

SABINSA SOUTH AFRICA (PTY) LTD was registered in August 2004 and remained dormant until operations commenced at an unconfirmed date in 2007.

STATUTORY INFORMATION

Registered Name	SABINSA SOUTH AFRICA
Registration Number	2004/025857/07
Type Of Company	Private Company
Registered Date	14/09/2004
Date Commenced Trading	2007
Commercial Status	In Business
Financial Year End	December

CONTACT DETAILS

Contact Number	+27 11 830 1459
Email Address	Farzana@sabinsa.com
Website	www.sabinsa.co.za
Social Media Presence	Facebook; Twitter; LinkedIn
Registered Physical Address	3 Belkev House 20 Basalt Avenue 3Rd Floor Amalgam Johannesburg Gauteng South Africa 2025
Trading Physical Address	3Rd Floor; Belkev House; 20 Basalt Avenue Amalgam Johannesburg Gauteng South Africa 2031
Postal Address	3Rd Floor; Belkev House; 20 Basalt Avenue Amalgam Johannesburg Gauteng South Africa 2025

TAX INFORMATION

TAX INFORMATION

Income Tax Number

9851641143

VAT INFORMATION

VAT Status

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

VAT Number	4250218957
Status	Active

OFFICERS AND PROFESSIONAL SERVICES

LIST OF OFFICERS AND PROFESSIONAL SERVICES

Type	Name	Contact Name	Contact Number
Auditor	Roelf Barnard Professional Accountants

OWNERSHIP STRUCTURE

SHAREHOLDING INFORMATION

CURRENT

Shareholder/Member Name	Share/Interest	Type	Comment
Madhu Subramanian	50%	Shareholder
Muhammed Majeed	50%	Shareholder

PRINCIPAL INFORMATION

Director / Member

Full Name	ID No.	Type	Status	DOA	Active Interests	Previous Interests	Judgments	Fraud Listing
Madhu Subramanian	6706100000000	Director	Active	14/09/2004	0	0	0	0
Muhammed Majeed	4809250000000	Director	Active	14/09/2004	0	0	0	0
Puneet Arora	A 4734520	Director	Resigned	04/04/2007	0	0	0	0
Sheryl Boswell	6010260041002	Director	Resigned	14/09/2004	0	0	0	0
Syed Mohammed Saleel	6201220000000	Director	Resigned	14/09/2004	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
ABB166268	SABINSA SOUTH AFRICA PTY LTD	221013261	Standard Bank (South Africa)	Randburg	051001	Unverified

OPERATIONAL ACTIVITIES

Operational Activities Status	The following information was provided
Industry	Wholesale
Major Industry SIC Code	466 - Other specialised wholesale
NACE Code	46,7 - Other specialised wholesale

MAJOR OPERATION

Major Business Activities	The subject is involved in the wholesale of herbal extracts, cosmeceuticals, minerals, dietary supplements and specialty fine chemicals.
Foreign Trade Activities	National
Agencies Held	Subject holds no agencies.
Franchises Held	The subject holds no franchises.
Major Suppliers	Sabinsa India
Major Customers	The Pharmaceutical Industry
Major Brands	Subject does not have any brands.
Major Contracts	Subject does not operate on a contract basis.

IMPORT ACTIVITIES

Subject Imports.

Imports From	To the value of
India

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
Johannesburg	Office				N/A

GENERAL COMMENTS

General Comments Additional information could not be obtained.

FINANCING TERMS

Sales Terms	· 30 Days · Progress Payments 90 Days · 60 Days
Overdraft Facility	The Subject does not have an overdraft facility
Sureties	The Principals have not signed sureties.
Debtors Ceded	Debtors have not been ceded.
Debtors Factored	Debtors have not been factored.
Bonds	The Subject has no bonds.

FINANCIAL FIGURES

GENERAL COMMENTS

General Comments Financial figures were not made available.

TRADE REFERENCES

GENERAL COMMENTS

General Comments

No creditor details were 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 67.22
UK Pound	1	INR 90.87
Euro	1	INR 80.09
ZAR	1	INR 5.50

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

INFORMATION DETAILS

Analysis Done by :	PRA
Report Prepared by :	TPT

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.