MIRA
INFORM REPORT
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Report Date : |
22.08.2007 |
IDENTIFICATION DETAILS
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Name : |
ANGLO OPERATIONS LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
13 April 1921 |
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Com. Reg. No.: |
1921/006730/06 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Mining of ferrous metals, coal, technical service providing and exploration, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
ANGLO OPERATIONS LTD
Formerly
AMCOAL COLLIERY & INDUSTRIAL OPERATIONS LTD the name having been changed at the end of 1998
TRADING DIVISIONS
ANGLO COAL DIVISION
BANK COLLIERY
GOEDEHOOP COLLIERY
KRIEL COLLIERY
NEW
NEW
LANDAU COLLIERY
KLEINKOPJIE COLLIERY
GREENSIDE COLLIERY
ANGLO INDUSTRIES & FERROUS DIVISION
ANGLO CORPORATE SERVICES
AIRCRAFT
TECHNICAL SERVICES
CEO OFFICE
CORPORATE SERVICES
EXPLORATION
FINANCE
HUMAN RESOURCES
IT
ANGLO AMERICAN RESEARCH LABORATORIES
ANGLO BASE METALS
NAMAKWA SANDS
Please note that the BOART LONGYEAR SECO division was sold approximately 1 year ago to an American company and is no longer a part of ANGLO OPERATIONS LTD.
It was stated by respondents that SCAW METALS (PTY) LTD is now a separate, legal entity. If our client requires a report on SCAW METALS (PTY) LTD, please advise soonest so that further investigation can be instituted.
PHYSICAL ADDRESS
Head Office:
POSTAL ADDRESS
2107
TELEPHONE NUMBER: 011 638 9111
FAX NUMBER: 011 638 4043 / 638-4044
It was stated by respondents of the company that they have
sold off the ANGLO BASE METALS DIVISION including Gamsberg Zinc, Nkomati Joint
Venture, Namakwa Sands and
SHAREHOLDERS
100% ANGLO
The ultimate holding company of the subject is ANGLO AMERICAN PLC – Registration Certificate Number: 3564138 - Quoted on the London Stock Exchange and JSE Ltd.
ASSOCIATE COMPANIES
ANGLO CORPORATE ENTERPRISES (PTY) LTD
ANGLO AMERICAN PLATINUM CORPORATION LTD (Registration Certificate Number: 1946/022452/06) quoted on the JSE LTD
ANGLOGOLD LTD (Registration Certificate Number: 1944/017354/06) Quoted on the JSE LTD
MONDI LTD (Registration Certificate Number: 1967/013038/06)
GLOBAL FOREST PRODUCTS (PTY) LTD, which is 49% owned by MONDI LTD
SIYAQHUBEKA FOREST (PTY) LTD, which is 65% owned by MONDI LTD
DE BEERS LTD
Plus many other companies within the Anglo American Corporation group
DIRECTORS
P L ZIM
G G GOMWE
A
P M BAUM
D D BARBER
N B MBAZIMA
D J MORRIS
R MEDORI
T M F PHASWANA
B MAGARA
D T NGWEPE
BANKERS
The subject’s main bank is stated to be FIRST NATIONAL BANK,
Corporate Branch,
DATE REGISTERED
13 April 1921
Registration Certificate Number: 1921/006730/06
Each division has its own separate VAT number
VAT NUMBER
Each division has its own VAT number.
MAJOR OPERATION
The subject’s main operations consist of mining of ferrous metals, coal, technical service providing and exploration, etc.
MAJOR SUPPLIERS
Each division is reported to have its own suppliers.
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Steel manufacturers including Iscor, Eskom etc, the building industry and large industry
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
Worldwide
TOTAL EMPLOYEES
Approximately 17 000 in the Group.
OTHER PREMISES
The subject is stated to have collieries throughout
OWNED OR LEASED
It was stated that the heading premises are owned by the subject, while most of the other premises are either owned by the subject or by group companies.
AUTHORISED SHARE
CAPITAL
R10 000 000 divided into 5 000 000 shares of R2 each.
ISSUED SHARE CAPITAL
R4 748 056 being 2 374 028 shares of R2 each.
Please see attached group income statement and balance sheet for financials on the subject.
AUDITORS
DELOITTE,
FINANCIAL YEAR END
DECEMBER
INSURANCE BROKERS
MARSH
TRADE REFERENCES
NOT APPLICABLE
COMMENTS
This is a very well established company that is part of the very large and internationally connected ANGLO Group. The subject is considered equal to US$1 000 000 over 60 days.
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)