MIRA INFORM REPORT

 

 

 

Report Date :

10.12.2008

 

IDENTIFICATION DETAILS

 

Correct Name :

IMPERIAL GROUP (PTY) LTD

 

 

Formerly Known as :

Properties of Imperial (Pty) Ltd

 

 

Registered Office :

Imperial Place, Jeppe Quondam, 79 Boeing Road East, Bedfordview, Gauteng

 

 

Country :

South Africa

 

 

Financials (as on) :

30.06.2008

 

 

Date of Incorporation :

25.08.1983

 

 

Com. Reg. No.:

1983/009088/07

 

 

Legal Form :

Propriety Limited

 

 

Line of Business :

Transportation Mobility Market

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

COMPANY NAME

 

IMPERIAL AUTO PARTS

 

 

PHYSICAL ADDRESS

 

13 Herman Street

MEADOWDALE

Gauteng

 

On investigation it was established that IMPERIAL AUTOPARTS is a trading division of IMPERIAL GROUP (PTY) LTD, which report should be consulted

 

 

 

 

COMPANY NAME

 

IMPERIAL GROUP (PTY) LTD

 

Formerly Properties of Imperial (Pty) Ltd, the name having been changed on 26 June 1997; formerly Computabits (Pty) Ltd, the name having been changed on 20 February 1989.

 

 

TRADING DIVISIONS

 

LINDSAY SAKER

CARGO MOTORS (incorporating MERCURIUS

MOTORS)

SCHUS CAPE

MARTIN JONKER MOTORS

IMPERIAL MOTORS

BARNES MOTORS

PHOENIX MOTORS

TYCO TRUCKS (formerly TYCO INTERNATIONAL)

IMPERIAL SPECIALISED FREIGHT (ISF)

IMPERIAL CAR RENTAL

(incorporating KHAYA CAR HIRE)

TEMPEST CAR HIRE

BMW DIVISION

PREMIER MOTOR HOLDINGS

BRIAN PORTER MOTORS

IMPERIAL LOGISTICS

IMPERIAL CONSUMER LOGISTICS

IMPERIAL ONLINE

IMPERIAL AUTOPARTS

IMPERIAL FLEET SERVICES

 

 

PHYSICAL ADDRESS    

 

Imperial Place

Jeppe Quondam

79 Boeing Road East

BEDFORDVIEW

Gauteng

 

 

POSTAL ADDRESS

 

P O Box 3013

EDENVALE

1610

 

TELEPHONE NUMBER: 011 372 6500

FAX NUMBER:              011 372 6560

 Most of the above trading divisions are reported to be private companies that have agency agreements with the subject.

 

It was stated that LECTROLITE was sold to a 3rd party in April 2007.

 

 

SHAREHOLDERS

 

100%    IMPERIAL HOLDINGS LTD (Reg. No. 1946/021048/06), quoted on the JSE LTD.

 

The shareholding changed in July 1995 and was previously 100% SAFICON INVESTMENTS LTD, which was de-listed.

 

 

ASSOCIATE COMPANIES

 

SAFICON INDUSTRIAL EQUIPMENT (PTY) LTD

SAFAIR (PTY) LTD

IMPERIAL BANK LTD   

REGENT INSURANCE COMPANY LTD

IMPERILOG LTD

TYCO TRUCKS (PTY) LTD (dormant)

FLEET SUPPORT SERVICES (PTY) LTD

 

Plus approximately 370 other companies within the IMPERIAL group.

 

 

DIRECTORS

 

R L HIEMSTRA              ID No. 5602135001087

H R BRODY                  ID No. 6405145092008

A H MAHOMED             ID No. 5011295114054

M P DE CANHA                        ID No. 5001065032008

O S ARBEE                  ID No. 5903295126080

M SWANEPOEL           ID No. 6010155020087

           

 

BANKERS

 

FIRST NATIONAL BANK, Johannesburg Corporate Branch.  It was stated that each division has its own separate account.  It was stated that the subject is managed by a cash management scheme controlled by the holding company.

 

The subject’s main bank is NEDBANK, Corporate Branch, Johannesburg.  It was stated that the subject is managed by a cash management scheme, controlled by the holding company. 

 

 

DATE REGISTERED

 

25th August 1983

Registration Certificate Number: 1983/009088/07

 

The subject took over the assets and operations of SAFICON MOTOR HOLDINGS LTD in June 1997.

 

 

VAT NUMBER

 

4670110032 and each division is reported to have its own VAT number

 

 

MAJOR OPERATION

 

The subject is involved in the transportation mobility market. The activities in this market encompass a wide range of related services and sales, such as fleet management, vehicle and fork life leasing, car rental and tourism, motor vehicle importation sales and after sales service.

 

The IMPERIAL AUTO PART division is reported to be involved in wholesale and distribution of auto parts.

 

 

MAJOR SUPPLIERS

 

It was stated that each division has its own suppliers as they are involved in different operations.   

 

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

 

Public, transport sector and retailers.

 

 

AREA OF DISTRIBUTION AND SELLING

 

South Africa

 

 

EXPORTS

 

Neighbouring countries

 

 

TOTAL EMPLOYEES

 

40 000 for the group

 

OTHER PREMISES   

 

Branches throughout South Africa.

 

 

OWNED OR LEASED

 

The head office premises are reported to be owned by the

subject, free of bond.

 

 

AUTHORISED SHARE CAPITAL

 

R1 000 divided into 1 000 ordinary shares of R1 each

 

 

ISSUED SHARE CAPITAL

 

R100

 

Please see attached group income, balance sheet and cash flow statements for the year ended 30 June 2008.

 

 

AUDITORS    

 

DELOITTE

 

 

YEAR END    

 

JUNE

 

 

INSURANCE BROKERS

 

REGENT

 

 

TRADE REFERENCES

 

NOT APPLICABLE

 

COMMENTS

 

This is a large well-established and well-connected company, whose finances are in good order.  No adverse comments have been heard and the subject is considered equal to a figure of  $1 000 000 over DA terms.


 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.12

UK Pound

1

Rs.72.59

Euro

1

Rs.63.52

 

 

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.

 

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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

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