MIRA
INFORM REPORT
|
Report Date : |
05.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
DUROMED CC |
|
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Registered Office : |
2nd Floor Trenor House 19 Gale Street Durban 4000 |
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Country : |
South Africa |
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Date of Incorporation : |
02.08.1985 |
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Com. Reg. No.: |
1985/008595/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
Importation and sale of medical equipment
and consumables. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Assessment
This is an established business that imports
all of its supplies.
A bank code revealed a C for R500 000
over 30 days which should be regarded as a maximum.
We have no other data upon which to recommend
dealings.
Larger amounts should be fully secured.
Company Information
|
Registered
Name |
DUROMED CC |
|
Trading
as/ Division Name |
None |
|
Previous Name |
None |
|
Date of Name
Change |
None |
|
Registration
Number |
1985/008595/23 |
|
Registration
Date |
1985/08/02 |
|
Date Commenced
Trading |
1985 |
|
History of
Business |
The business started as new in 1985 |
|
History of
Principals |
MR WYMER has been involved in the business since inception. |
|
Shareholders/Members/Partners
of subject and % holding |
21% B G TALBOT 20% G WYMER 18% N DORKIN 16% F MHGADI 15% N BASDEW 10% Z XHAKAZA |
|
Members
Contribution |
R100 |
|
Age of Company |
26 Years |
|
Status |
In Business |
|
Operations
Assessment |
Importation and sale of medical equipment
and consumables. |
|
Industry/
Customers |
The subject works mainly for the
Department of Health in Kwazulu Natal, on a tender basis. |
|
Export |
On occasion to the DRC. |
|
Major Industry
Code / SICC |
61394 Wholesale Retail |
|
Definition of
Code |
Wholesale trade in pharmaceuticals toiletries
and medical equipment. |
|
Head Office
Physical Address |
2nd Floor Trenor House 19 Gale Street DURBAN 4000 |
|
Head Office
Postal Address |
P O Box 17297 CONGELLA 4013 |
|
Current Tel
Number Cell number |
031 3053280 |
|
Current Fax
Number |
031 3059025 |
|
Current Email
Address |
duromed@global.co.za |
|
Web Site Address |
None |
Auditors Information
|
Company
Registered Name |
TSELENTIS AND COLETT |
|
Trading Name |
None |
|
Registration
Number |
Partnership started in 1982 |
|
Physical Address |
Unit 5 Windsor Court Derby Downs WESTVILLE 3630 |
|
Postal Address |
PO Box 1271 WESTVILLE 3630 |
|
Contact Person |
MR COLETT |
|
Contact Number |
031 2663370 |
|
Principals |
DWG COLETT S B NAIDOO H BENADIE J WALKERS |
|
Subject Verified
as Client |
Yes |
|
SAICA number |
925012E |
|
Years With
Auditors |
Since 1985 |
|
Website |
None |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
None |
|
Tax Information
|
Vat Number |
4360102554 |
|
Status |
Active |
|
Vat Liable Date |
Bi Monthly |
|
Tax Number |
9078079200 |
|
Tax Clearance
Expire Date |
Fluctuates as subject has to get a tax clearance every time they are
applying for a tender. |
|
Financial Year
End |
February |
Black Economic Empowerment
|
Status |
No, however the Department of Health have their own ratings for the
tenders and the subject scores an 86%. |
|
Score |
|
|
Expire Date |
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|
BEE Certificate
Available |
Yes/No |
ISO Status
|
Type of ISO
Grade |
None |
|
ISO Certificate |
|
|
ISO Certificate
Available |
|
|
Certified by
anAccredited Agent |
|
Workman’s compensation
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
Company Structure
|
Branches |
None |
|
Branches Names |
Country |
Province |
|
None |
|
|
|
Subsidiary
Company |
None |
|
Shareholding |
|
|
Registration
Number |
|
|
Import / Export |
|
|
Number of
Employees |
9 |
|
1.
Salaried
employees |
9 |
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2.
Waged
employees |
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|
3.
Permanent
employees |
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4.
Casual
employees |
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5.
Contracted
employees |
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Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding
Balance |
|
Fleet Operations |
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The Fleet is
made up of |
8 |
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1.
Cars |
6 |
Owned |
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|
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2.
Light
Delivery Vehicles |
2 |
Owned |
Total:R2 500
000 |
Total: R300 000 |
|
3.
Trailers |
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4.
Busses |
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5.
Trucks |
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6.
Fork
Lifts |
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7.
Other |
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Head
OfficeOwned/ Rented |
Leased |
|
Rental Company |
Name unknown |
|
Owned by |
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|
Value |
|
|
Bond |
|
|
Bank |
|
|
Lease Agreement |
5 years |
|
Lease Expire
Date |
August 2011, renewing at present for 5 years |
|
Type of Premises |
Office, storage and workshop |
Trade References
The subject imports all its good and deals locally
with a clearing agent named below.
|
Supplier |
Contact |
|
WORLDNET
LOGISTICS |
011 6080100 |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
2008 |
Declined |
Declined |
30 days |
R500 00 |
30 days |
Excellent |
Adverse Information on Subject
|
Judgements |
None |
|
Possible
Judgements |
None |
|
Civil Court |
None |
|
RDs |
None |
Deeds Information
|
Property Interest |
|||
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Property Type: |
None |
Stand Number: |
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Street Number: |
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Street Name: |
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Municipal Suburb: |
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Municipal City: |
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Township Name: |
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Province: |
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Deeds Office: |
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Transfer ID: |
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Title Deed Number: |
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Purchase Date: |
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Transfer Date: |
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Erf Size: |
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Sold Price: |
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Bank Information
|
Bank |
NEDBANK |
|
Branch |
Smith Street, Durban |
|
Bank Account
Number |
1381335330 |
|
Type of Account |
Current |
|
Account Name |
DUROMED CC |
|
Overdraft Facilities |
Yes R1 000 000, secured by MrWymer’s personal guarantee,
utilized occasionally. |
|
Date Opened |
17/01/91 |
|
Bank Code |
C for R500 000 over 30 days |
|
Bank Comment |
The subjects bankers consider them good for their normal business engagements. |
Bank CodesHistory
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
|
None |
|
|
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|
|
|
Previous Bank
Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
None on record |
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Financial Information
Financial Estimates
|
CURRENT ASSETS |
|
|
Stock |
R2 500 000 |
|
Debtors |
Fluctuates on tender contracts |
|
Cash on Hand |
|
|
FIXED ASSETS |
R50 000 |
|
Plant, Equipment,
Vehicles |
Vehicles R2 500 000 |
|
Property |
Owns R700 000 property in Kya sand, Johannesburg, free of bond |
|
CURRENT
LIABILITIES |
|
|
Creditors |
|
|
Loans/ From? |
None |
|
LONG TERM
LIABILITIES |
None |
|
Morgage Bonds |
None |
|
ANNUAL Turnover |
R25 000 000-R30 000 000 |
|
Previous Year
Turnover |
R21 000 000 |
|
Estimated
Current Year Turnover |
R50 000 000 |
Principals
|
Number of
Principals |
6 |
|
Average Age of
Active Principals |
42 |
Active Principals
Principal 1 of 6
|
Surname |
XHAKAZA |
|
First Names |
ZAMOKWAKHE |
|
Marital Status |
Married |
|
ID Number |
7405205357084 |
|
Verified ID
Number |
Yes |
|
Current Age |
37 |
|
Designation |
Member |
|
Status |
Active |
|
Appointment Date |
2005-03-18 |
|
Address (at time
of Appointment) |
House D 1071 UMLAZI 4066 |
Adverse Information on Principal
Judgement
|
Number of
Judgements |
2 |
Judgement 1
|
Case Number |
574/2006 |
|
Amount |
R2758 |
|
Reason |
Monies left |
|
Court Name |
Bellville M |
|
Judgement Type |
Judgement |
|
Judgement Date |
2008-01-06 |
|
Plaintiff (Multiple) |
RCS PERSONAL
FINANCE (PTY) LTD |
Judgement
2
|
Case Number |
63148/2006 |
|
Amount |
R18043 |
|
Reason |
Monies left |
|
Court Name |
Durban M |
|
Judgement Type |
Judgement |
|
Judgement Date |
2007-05-08 |
|
Plaintiff (Multiple) |
AFRICAN BANK LTD |
Debt
Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information on Principal
Current
Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None on record |
|
|
|
|
Previous
Business Interests
|
Average Age of
Previous Business Interests |
None on record |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None on record |
|
|
|
|
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
None on record |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Principal 2 of 6
|
Surname |
MNGADI |
|
First Names |
SIZMO |
|
Marital Status |
Married under traditional law |
|
ID Number |
6908265533081 |
|
Verified ID
Number |
Yes |
|
Current Age |
42 |
|
Designation |
Member |
|
Status |
Active |
|
Appointment Date |
2005-03-18 |
|
Address (at time
of Appointment) |
1063 Doctor Khanyile Street ULUNDI 0000 |
Adverse Information on Principal
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information on Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None on record |
|
|
|
|
Previous Business Interests
|
Average Age of
Previous Business Interests |
None on record |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None on record |
|
|
|
|
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
None on record |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Principal 3 of 6
|
Surname |
TALBOT |
|
First Names |
BEVERLEY GAYNOR |
|
Marital Status |
Married |
|
ID Number |
6605300033081 |
|
Verified ID
Number |
Yes |
|
Current Age |
45 |
|
Designation |
Member |
|
Status |
Active |
|
Appointment Date |
2002-09-26 |
|
Address (at time
of Appointment) |
179 Anleno Road MONTCLAIR 4001 |
Adverse Information on Principal
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information on Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None on record |
|
|
|
|
Previous Business Interests
|
Average Age of
Previous Business Interests |
None on record |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None on record |
|
|
|
|
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
None on record |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Principal 4 of 6
|
Surname |
DORKIN |
|
First Names |
NORMAN |
|
Marital Status |
Married |
|
ID Number |
7205215023084 |
|
Verified ID
Number |
Yes |
|
Current Age |
39 |
|
Designation |
Member |
|
Status |
Active |
|
Appointment Date |
2002-09-26 |
|
Address (at time
of Appointment) |
63 Chipstead Road MARLBOROUGH PARK 4052 |
Adverse Information on Principal
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information on Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None on record |
|
|
|
|
Previous Business Interests
|
Average Age of
Previous Business Interests |
None on record |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None on record |
|
|
|
|
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
None on record |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Principal 5 of 6
|
Surname |
WYMER |
|
First Names |
GEOFFREY |
|
Marital Status |
Married |
|
ID Number |
5503125173005 |
|
Verified ID
Number |
Yes |
|
Current Age |
56 |
|
Designation |
Member |
|
Status |
Active |
|
Appointment Date |
1987-11-06 |
|
Address (at time
of Appointment) |
5 Angazi Park Angazi Close ASSAGAY 3610 |
Adverse Information on Principal
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information on Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None on record |
|
|
|
|
Previous Business Interests
|
Average Age of
Previous Business Interests |
19 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
CGA PROPERTY
INVESTORS CC |
1991/028317/23 |
In Business |
0 |
No |
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
None on record |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Principal 6 of 6
|
Surname |
BASDEW |
|
First Names |
NESHANA |
|
Marital Status |
Married |
|
ID Number |
7611020051089 |
|
Verified ID
Number |
Yes |
|
Current Age |
35 |
|
Designation |
Member |
|
Status |
Active |
|
Appointment Date |
2005-03-18 |
|
Address (at time
of Appointment) |
30 Bowerglen Place GREENBURY Phoenix 4068 |
Adverse Information on Principal
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information on Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None on record |
|
|
|
|
Previous Business Interests
|
Average Age of
Previous Business Interests |
None on record |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None on record |
|
|
|
|
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
None on record |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.41 |
|
|
1 |
Rs.72.70 |
|
Euro |
1 |
Rs.63.55 |
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 |
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 |
|
-- |
NB |
New Business |
-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.