MIRA
INFORM REPORT
|
Report Date : |
16.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
EURO BRASS CC |
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Registered Office : |
155 Main Road Diep River Western Cape |
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Country : |
South Africa |
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Date of Incorporation : |
21.10.1999 |
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Com. Reg. No.: |
1999/060011/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
Importing of ironmongery in brass, stainless
steel, black cast iron and aluminium. |
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 |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
-- |
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
its supplies.
The payment traced is being met within terms and
up to a figure of R400 000.
The member has a judgement recorded on his
name from 2007.
We would suggest all dealings be fully secured
or on a Letter of Credit basis.
We are still awaiting a bank code.
Company Information
|
Registered
Name |
EURO BRASS CC |
|
Trading
as/ Division Name |
SOLID BRASS |
|
Previous Name |
None |
|
Date of Name
Change |
N/A |
|
Registration
Number |
1999/060011/23 |
|
Registration
Date |
1999-10-21 |
|
Date Commenced
Trading |
1999 |
|
History of
Business |
The subject started as a new business. |
|
History of
Principals |
MR J E HENRY has always been involved in the same industry. |
|
Membersof
subject and % holding |
100% J E HENRY |
|
Members
Contribution |
R100 |
|
Age of Company |
11 years 10 months |
|
Status |
In Business |
|
Operations
Assessment |
Importing of ironmongery in brass,
stainless steel, black cast iron and aluminium. Supplying of products such as door knobs,
hinges, numerals and alphabet etc: |
|
Industry/
Customers |
Retailers, builders , various customers |
|
Export |
None |
|
Major Industry
Code / SICC |
35419 Manufacturing |
|
Definition of
Code |
Other structural metal products, metal
doors ,windows and gates.etc: |
|
Head Office
Physical Address |
155 Main Road DIEP RIVER Western Cape The subject was previously situated at: Unit D19 Prime Park Mooke Road DIEP RIVER Cape Town |
|
Head Office
Postal Address |
P O Box 613 CONSTANTIA 7848 |
|
Current Tel
Number |
021 7619543/ 7069811 |
|
Current Fax
Number |
021 7619569/ 7069815 |
|
Current Email
Address |
eurobrass@mweb.co.za |
|
Web Site Address |
www.eurobrass.co.za |
Auditors Information
|
Company
Registered Name |
N C VINCENT AND ASSOCIATES (PTY) LTD |
|
Trading Name |
None |
|
Registration
Number |
2004/034648/07 |
|
Physical Address |
7 Sandsteen Street Stellenridge BELLVILLE 7530 |
|
Postal Address |
P O Box 1565 BELLVILLE 7535 |
|
Contact Person |
SUE |
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Contact Number |
021 9194170 |
|
Email |
|
|
Principals |
N VINCENT B BROWN D F HENDRIKSE |
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Judgements
Against Subject |
None |
|
Judgements
Against Principals |
None |
|
Subject Verified
as Client |
Yes |
|
SAICA number |
Unknown |
|
VAT Number |
4060217801 |
|
Tax Number |
9071028170 |
|
BEE Status |
None |
|
Financial Year
End |
February |
|
Years With
Auditors |
Approx. 10 years |
|
Website |
www.ncvincent.co.za |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
None |
|
Tax Information
|
Vat Number |
4950186207 |
|
Status |
Active |
|
Vat Liable Date |
October (bi monthly) |
|
Tax Number |
9920003028 |
|
Tax Clearance
Expire Date |
February and August |
|
Financial Year
End |
February |
Black Economic Empowerment
|
Status |
Compliant |
|
Score |
Level 3 |
|
Expire Date |
Unknown |
|
BEE Certificate
Available |
No |
ISO Status
|
Type of ISO
Grade |
None |
|
ISO Certificate |
Yes/No |
|
ISO Certificate
Available |
Yes/No |
|
Certified by
anAccredited Agent |
Yes/No |
Workman’s compensation
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
Company Structure
|
Branches |
None |
|
Branches Names |
Country |
Province |
|
None |
|
|
The company has representatives/ agents in Johannesburg, Durban, East
London, Port Elizabeth, Bloemfontein and Windhoek.
|
Subsidiary
Company |
None |
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Shareholding |
|
|
Registration
Number |
|
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Import / Export |
|
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Number of
Employees |
25 |
|
1.
Salaried
employees |
25 |
|
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 |
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Fleet Operations |
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The Fleet is
made up of |
8 |
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1.
Cars |
6 |
Owned |
Unknown |
Only owing on 2
cars |
|
2.
Light
Delivery Vehicles |
2 |
Owned |
Unknown |
Nil |
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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 |
Owned |
|
Rental Company |
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Owned by |
by the subject EURO BRASS CC |
|
Value |
R4 200 000 |
|
Bond |
Nil |
|
Bank |
|
|
Lease Agreement |
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Lease Expire
Date |
|
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Type of Premises |
Office, storage and showroom |
Trade References
The subject imports most of its supplies
from Italy, India, turkey and China.
|
Supplier |
Contact |
|
SAFCOR PANELPINA |
021 5506500 |
|
CLOVER CARGO |
021 5309800 |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
Do |
Not |
Give |
Trade |
References |
|
|
|
2002 |
R600 000 |
R400 000 |
30 |
R100 000-
R400 000 |
7/30 |
Excellent |
Adverse Information on Subject
|
Judgements |
None |
|
Possible
Judgements |
None |
|
Civil Court |
None |
|
RDs |
None |
Default Data
|
Date |
Details |
|
None |
|
Notarial Bonds
|
Date |
Details |
|
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 |
ABSA |
|
Branch |
CLAREMONT |
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Bank Account
Number |
4064473085 |
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Type of Account |
Current |
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Branch Code |
635005 |
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Account Name |
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Overdraft
Facilities |
None |
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Date Opened |
|
|
Bank Code |
We await a bank code. |
|
Bank Comment |
|
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 |
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Financial Information
Financial Estimates
|
CURRENT ASSETS |
|
|
Stock |
R12 000 000 |
|
Debtors |
R2 500 000 |
|
Cash on Hand |
|
|
FIXED ASSETS |
|
|
Plant,
Equipment, Vehicles |
|
|
Property |
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CURRENT
LIABILITIES |
|
|
Creditors |
|
|
Loans/ From? |
None |
|
LONG TERM
LIABILITIES |
None |
|
Morgage Bonds |
|
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MONTHLY Turnover |
R2 500 000- R3 000 000 |
|
Previous Year
Turnover |
|
|
Estimated
Current Year Turnover |
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Principals
|
Number of
Principals |
1 |
|
Average Age of
Active Principals |
58 |
Active Principals
Principal 1 of 1
|
Surname |
HENRY |
|
First Names |
JOHN |
|
Marital Status |
|
|
ID Number |
5301095123086 |
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Verified ID
Number |
Yes |
|
Current Age |
58 |
|
Designation |
Member |
|
Status |
Active |
|
Appointment Date |
Not on record |
|
Address (at time
of Appointment) |
Rose Cottage CONSTANTIA 7848 |
Adverse Information on Principal
|
Number of
Judgements |
1 |
Judgement
|
Case Number |
150446/2006 |
|
Amount |
R3915.00 |
|
Reason |
Monies Lent |
|
Court Name |
Johannesburg Magistrates |
|
Judgement Type |
Judgement |
|
Judgement Date |
2007-02-19 |
|
Plaintiff
(Multiple) |
DINERS CLUB SA (PTY) LTD |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information on Principal
Current Business Interests
|
Company
Name |
Registration No |
Status |
Judgements |
Liquidation |
|
NATWOOD
(TRANSVAAL) CC |
1986/006350/23 |
Deregistration
Process |
0 |
No |
|
JOHN
HENRY MARKETING CC |
1987/000539/23 |
In Liquidation |
0 |
Yes |
|
A
T A DISTRIBUTORS S A CC |
1988/022539/23 |
In Business |
0 |
No |
|
GALLEON
PAINTS CC |
1988/022540/23 |
In Business |
0 |
No |
|
SIVE’S
HARDWARE AND TIMBER CC |
1990/022296/23 |
Deregistration
Final |
0 |
No |
|
MAGNA
GALLEON PAINTS (PTY) LTD |
1997/013381/07 |
Deregistration
Process |
0 |
No |
|
J D
L MANUFACTURERES AND DISTRIBUTORS CC |
1997/026944/23 |
In Business |
0 |
No |
|
SUPER
CABINETS CC |
1997/044845/23 |
In Business |
0 |
No |
|
CAPE
BRASSWARE CC |
1998/055120/23 |
Dissolved |
0 |
No |
|
JOHPED
ENTERPRISES CC |
1999/068283/23 |
Deregistration Process |
0 |
No |
|
PRIME
PARK C17 (PTY) LTD |
2001/022561/07 |
In Business |
0 |
No |
|
LEZMIN
1271 CC |
2002/003365/23 |
Deregistration
Final |
0 |
No |
|
CONSTANTIA
HARDWARE |
5301095123086 |
|
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
17 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
NIGS BOTTLE
STORE CC |
1991/016272/23 |
Deregistration
Process |
0 |
No |
|
STERLING
INDUSTRIES (PTY) LTD |
1996/016153/07 |
In Business |
0 |
No |
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
T18771/2001 |
Erf/Site No. |
|
|
Deeds Office |
CAPE TOWN |
Physical Address |
333 UNKNOWN MALAGAS MALAGAS |
|
Property Type |
Freehold/ Ervin |
Extent / Size |
3478.0SQM |
|
Purchase Date |
2000-11-21 |
Purchase price |
300000.0000 |
|
% Ownership |
0.0000 |
Bond Holder |
ABSA BANK LTD |
|
Bond Number |
B141522001 |
Bond Amount |
300000.0000 |
|
Property Interest |
|||
|
Title Deed No. |
T95972/1999 |
Erf/Site No. |
0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
BELLE CONSTANTIA SOUTHERN SUBURBS |
|
Property Type |
Freehold/ Ervin |
Extent / Size |
880000.0000 |
|
Purchase Date |
1999-05-20 |
Purchase price |
|
|
% Ownership |
0.0000 |
Bond Holder |
0.0000 |
|
Bond Number |
|
Bond Amount |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.37 |
|
|
1 |
Rs.73.53 |
|
Euro |
1 |
Rs.64.36 |
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.