MIRA INFORM REPORT

 

 

Report Date :

30th May 2006

 

IDENTIFICATION DETAILS

 

Name :

HALCAST (PTY) LTD

 

 

Registered Office :

Lot 3394

Old Main Road

Margate

Kwazulu Natal

 

 

Country :

South Africa

 

 

Date of Incorporation :

17 July 1995

 

 

Legal Form :

Pty Ltd

 

 

Line of Business :

Manufacturers of a range of builders hardware including die casting etc

 

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 :

Regular

 

 

Litigation :

Clear

 

 

 

COMPANY NAME

 

HALCAST (PTY) LTD

 

 

PHYSICAL ADDRESS    

 

Lot 3394

Old Main Road

MARGATE

Kwazulu Natal

 

 

POSTAL ADDRESS        

 

P O Box 166

MARGATE

4275

 

TELEPHONE NUMBER: (039) 312-2514

 

FAX NUMBER:                          (039) 317-4602

 

 

 

SHAREHOLDERS

 

100%  THE ROGER HALSTEAD FAMILY TRUST

 

 

ASSOCIATE COMPANIES

 

TREV HALSTEAD PROPERTIES (PTY) LTD

GREG HALSTEAD PROPERTIES (PTY) LTD

 

 

DIRECTORS

 

T R HALSTEAD                         Identity number:  4703115012002

MRS D HALSTEAD (wife)           Identity number:  5208190060008

G T HALSTEAD (son)                 Identity number:  7401095029081

T M HALSTEAD (son)                Identity number:  7606175087086

 

 

BANKERS

 

FIRST NATIONAL BANK, Margate, account number 52960433863.  It was stated that the subject enjoys overdraft facilities to an extent of R2 000 000, secured by a cession of debtors.  Utilisation of the overdraft is stated to fluctuate.

 

 

DATE REGISTERED

 

17 July 1995

Registration Certificate Number: 1995/007092/07

 

 

VAT NUMBER       

 

4630154971

 

 

MAJOR OPERATION

 

Manufacture of a range of builders hardware including die casting etc.

 

 

MAJOR SUPPLIERS

 

ZINC CORPORATION

BOLTFIX  Durban

BIGFOOT EXPRESS  Durban

HOWICK METALS

 

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

 

Wholesalers

 

 

AREA OF DISTRIBUTION AND SELLING   

 

South Africa

 

 

EXPORTS

 

Occasionally to Mozambique.

 

 

TOTAL EMPLOYEES

 

150

 

 

OTHER PREMISES   

 

None

 

 

OWNED OR LEASED  

 

The premises are reported to be owned by TREV

HALSTEAD PROPERTIES (PTY) LTD.

 

 

ISSUED SHARE CAPITAL    

 

R100

 

The following estimated financial situation was submitted:

 

STOCK                                                                             4 months R2 000 000

DEBTORS                                                                                        R3 000 000

FIXED ASSETS                                                                                R7 000 000

CREDITORS                                                                            Local  R   500 000

The subject is reported to import.

DIRECTORS LOAN ACCOUNT                                                           R4 000 000

TURNOVER                                                                    per annum R30 000 000

 

 

 

AUDITORS  

 

GIRD ELLIOTT, Shelly Beach

 

 

YEAR END   

 

JUNE

 

 

INSURANCE BROKERS  

 

HIBISCUS

 

 

TRADE REFERENCES

 

PERIOD            HIGHEST          AVERAGE         TERMS             PAYMENT         EXPERIENCE

CREDIT            CREDIT                                    PATTERN

 

1.         1999                 R40 000            R10 000 -          30 days             30 days             Very good

R15 000

 

2.         Nov 1991           R50 000            R20 000            30 days             30 days             Very good

2.5%

 

3.         1996                 R100 000          R10 000            30 days             30 days             Excellent

2.5%

 

 

COMMENTS

 

This is an established company meeting its small commitments timeously.  We have not traced dealings to an extent of US$1 000 000 and would prefer to see a lesser figure on a spread and secured basis.

 

 

 

 

 

           

 

                       


 

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

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

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

 

 

 

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