MIRA INFORM
REPORT
|
Report Date : |
12.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
A H GROCERS CC |
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Registered Office : |
1 Merryvale, 25 Toledo Avenue, Berea, Durban |
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Country : |
South Africa |
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Date of Incorporation : |
14.05.2003 |
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Com. Reg. No.: |
2003/036896/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Sale of dried products, spices , seeds etc: |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Assessment:
The correct name for the subject is A H GROCERS CC in which MR A H BADAT is the main member.
There is no record of a company registered as A H BADAT at Cipro.
This is an established family business.
Suppliers speak highly of the business and payment terms are being met.
Dealings have been traced to an extent of R1 000 000 over 30
days.
In view of the absence of financials and a bank code, security is
suggested on all dealings with the subject.
The subject and members are clear of judgements.
Company Information
|
Registered Name |
A H GROCERS CC |
|
Trading as/
Division Name |
A H BADAT A H CASH AND CARRY |
|
Previous Name |
None |
|
Date of Name
Change |
N/A |
|
Registration
Number |
2003/036896/23 |
|
Registration
Date |
2003-05-14 |
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Date Commenced
Trading |
2003 |
|
History of
Business |
The business has been trading for over 20 years and was formerly a
sole proprietorship. |
|
History of
Principals |
A H BADAT has been involved since inception and then his wife and sons
joined in 2003 |
|
Members of
subject and % holding |
30% A H BADAT 30% M BADAT (Wife) 20% M BADAT (Son) 20% A BADAT (Son) |
|
Members
Contribution |
R100 |
|
Age of Company |
8 years 3 months |
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Status |
In Business |
|
Operations
Assessment |
Sale of dried products, spices , seeds
etc: |
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Industry/
Customers |
Trade, retailers and wholesalers |
|
Export |
Mozambique |
|
Major Industry
Code / SICC |
61221 Wholesale Retail |
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Definition of
Code |
Wholesale trade in foodstuffs |
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Head Office
Physical Address |
61/67 Williams Road CONGELLA Durban 4001 |
|
Head Office Postal
Address |
P O Box 49389 QUALBERT 4078 |
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Current Tel
Number Cell number |
031 3061831/ 031 3054779 |
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Current Fax
Number |
031 3054835 |
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Current Email
Address |
ahg@eastcoast.co.za |
|
Web Site Address |
None |
Auditors Information
|
Company
Registered Name |
YUSUFF MOOSA |
|
Trading Name |
None |
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Registration
Number |
Sole proprietor |
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Physical Address |
1 Merryvale 25 Toledo Avenue BEREA Durban |
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Postal Address |
P O Box 48155 QUALBERT 4078 |
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Contact Person |
YusuffMoosa |
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Contact Number |
031 2026723/ 084 6216030 |
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Email |
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Principals |
YusuffMoosa |
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Subject Verified
as Client |
Yes |
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SAICA number |
1720 |
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VAT Number |
None |
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Tax Number |
3184267148 |
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Financial Year
End |
February |
|
Years With
Auditors |
Since 1989 |
Previous Auditors
|
Company Name/
Tel |
Time With
Previous Auditors |
|
None |
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Tax Information
|
Vat Number |
4320207584 |
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Status |
Active |
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Vat Liable Date |
Monthly |
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Tax Number |
9447365157 |
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Tax Clearance
Expire Date |
February 2012 |
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Financial Year
End |
February |
Black Economic Empowerment
|
Status |
Yes |
|
Score |
Unknown |
|
Expire Date |
Unknown |
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BEE Certificate Available |
No |
ISO Status
|
Type of ISO
Grade |
None |
|
ISO Certificate |
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|
ISO Certificate
Available |
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Certified by
anAccredited Agent |
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Workman’s
compensation
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Registered |
Yes |
|
Compliance
Certified |
Yes |
Company Structure
|
Branches |
1 |
|
Branches Names |
Country |
Province |
|
A H CASH AND CARRY |
SOUTH AFRICA, DURBAN |
KWAZULU NATAL |
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Subsidiary
Company |
None |
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Shareholding |
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Registration
Number |
|
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Import / Export |
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Number of
Employees |
70-80 |
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Salaried
employees |
70-80 |
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Waged employees |
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Permanent
employees |
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Casual employees |
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Contracted
employees |
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Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding
Balance |
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Fleet Operations |
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The Fleet is
made up of |
9 |
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Declined |
Declined |
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Cars |
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Light Delivery
Vehicles |
1 |
Owned |
Declined |
Declined |
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Trailers |
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Busses |
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Trucks |
8 |
Owned |
Declined |
Declined |
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Fork Lifts |
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Other |
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Head
OfficeOwned/ Rented |
Owned by a family trust- no further details were forthcoming. |
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Rental Company |
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Owned by |
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Value |
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Bond |
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Bank |
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Lease Agreement |
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Lease Expire
Date |
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Type of Premises |
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Branches Owned/
Rented |
Owned by a family trust- no further details were forthcoming. |
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Rental Company |
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Owned |
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Value |
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Bank |
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Bond |
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Lease Agreement |
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Lease Expire
Date |
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Type of Premises |
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Trade References
|
Supplier |
Contact |
|
SASKO MILLING |
022 4827272 |
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PREMIER MILLING |
011 5654300 |
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WILLOWTON OIL |
033 3557800 |
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CUSTOCLEAR |
031 3060360 |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average
Purchases |
Terms Taken |
Comment |
|
Do |
Not |
Give |
Trade |
References |
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Awaiting |
A |
Fax |
Trade |
Reference |
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10 years |
R1 000 000 |
R1 000 000 |
30 days |
R300 000- R500 000 |
30 days |
Excellent |
|
10 years |
Open |
R500 000 plus |
On Invoice/ 7 days |
R500 000 |
On Invoice/ 7 days |
Excellent |
Adverse
Information on Subject
|
Judgements |
None |
|
Possible
Judgements |
None |
|
Civil Court |
None |
|
RDs |
None |
Default Data
|
Date |
Details |
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None |
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Notarial Bonds
|
Date |
Details |
|
None |
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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 |
HBZ BANK LTD- Durban First National Bank Ltd- Queensmead and Verulam. Further banking
information was declined. |
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Branch |
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Bank Account
Number |
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Type of Account |
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Branch Code |
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Account Name |
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Overdraft
Facilities |
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Date Opened |
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Bank Code |
Unable to obtain without an account number. |
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Bank Comment |
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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 |
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None |
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Financial Information
Financial
Estimates
|
CURRENT ASSETS |
All financials were declined by the company. |
|
Stock |
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Debtors |
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Cash on Hand |
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FIXED ASSETS |
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|
Plant,
Equipment, Vehicles |
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|
Property |
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CURRENT
LIABILITIES |
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Creditors |
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Loans/ From? |
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LONG TERM
LIABILITIES |
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|
Morgage Bonds |
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ANNUAL
/ MONTHLY Turnover |
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Previous
Year Turnover |
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Estimated
Current Year Turnover |
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Principals
|
Number of
Principals |
4 |
|
Average Age of
Active Principals |
52 |
Active Principals
Principal 1 of 4
|
Surname |
BADAT |
|
First Names |
AHMED |
|
ID Number |
7506305088089 |
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Verified ID
Number |
Yes |
|
Current Age |
36 |
|
Designation |
20% Member |
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Status |
Active |
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Appointment Date |
2003-05-14 |
|
Address (at time of
Appointment) |
5 Groom Street VERULAM 4340 |
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 |
|
LIGHTWEIGHT TRADING CC |
2002/077521/23 |
Deregistration Process |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
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|
Deeds Information
Property Interests of Principle
|
Property
Interest |
|||
|
Title Deed No. |
T40413/2003 |
Erf/Site No. |
|
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
10 Cherry MUSGRAVE BEREA DURBAN |
|
Property Type |
Freehold/ Ervin |
Extent / Size |
693.0SQM |
|
Purchase Date |
2003-04-17 |
Purchase price |
580000 |
|
% Ownership |
0.0000 |
Bond Holder |
AHMED SALEEM BADAT FAMILY TRUST |
|
Bond Number |
B227282003 |
Bond Amount |
650000 |
Principal 2 of 4
|
Surname |
BADAT |
|
First Names |
MUHAMMED |
|
ID Number |
7112095182081 |
|
Verified ID
Number |
Yes |
|
Current Age |
40 |
|
Designation |
20% Member |
|
Status |
Active |
|
Appointment Date |
2003-05-14 |
|
Address (at time of
Appointment) |
5 Groom Street VERULAM 4340 |
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 |
|
LIGHTWEIGHT TRADING CC |
2002/077521/23 |
Deregistration Process |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
Deeds Information
Property Interests
of Principle
|
Property
Interest |
|||
|
Title Deed No. |
None |
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 4
|
Surname |
BADAT |
|
First Names |
MIRIAM |
|
ID Number |
4507200063089 |
|
Verified ID
Number |
Yes |
|
Current Age |
66 |
|
Designation |
30% Member |
|
Status |
Active |
|
Appointment Date |
2003-05-14 |
|
Address (at time of
Appointment) |
5 Groom Street VERULAM 4340 |
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 |
|
|
|
|
Previous Business
Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
Deeds Information
Property Interests
of Principle
|
Property
Interest |
|||
|
Title Deed No. |
None |
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 4
|
Surname |
BADAT |
|
First Names |
ABDUL |
|
ID Number |
4310035106086 |
|
Verified ID Number |
Yes |
|
Current Age |
68 |
|
Designation |
20% Member |
|
Status |
Active |
|
Appointment Date |
2003-05-14 |
|
Address (at time of
Appointment) |
5 Groom Street VERULAM 4340 |
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 |
|
|
|
|
Previous Business
Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
Deeds Information
Property Interests
of Principle
|
Property
Interest |
|||
|
Title Deed No. |
None |
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.45.27 |
|
UK Pound |
1 |
Rs.73.34 |
|
Euro |
1 |
Rs.64.58 |
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.