MIRA INFORM REPORT
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Report Date : |
16.08.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
MULTISTONE CAPE CC |
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Registered Office : |
Unit 5 Chardonnay Street, Saxenburg Park, Cape Town |
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Country : |
South Africa |
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Date of Incorporation : |
08.02.2005 |
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Com. Reg. No.: |
2005/014583/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Wholesale of granite and marble |
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RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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South Africa |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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:
On investigation it was established that the correct name for the
subject is MULTISTONE CAPE CC situated at the address submitted by our client.
The company trades in granite and marble.
CIPC has no of a company registered as Multistone Granite.
The one local supplier is being paid timeously and the highest figure
traced is R30 000.
Your figure is therefore considered as too high.
Company Information
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Registered
Name |
MULTISTONE CAPE CC |
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Trading
as/ Division Name |
None |
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Previous Name |
None |
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Date of Name
Change |
n/a |
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Registration
Number |
2005/014583/23 |
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Registration
Date |
2005-02-08 |
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Date Commenced
Trading |
2005 |
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History of
Business |
The subject was commenced asa new business. |
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Membersof
subject and % holding |
100% G BURGER It was stated that a new member will join the business soon, a MR J
FIORITO from ITALY. |
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Members
Contribution |
R100 |
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Age
of Company |
6 years 6 months |
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Status |
In Business |
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Operations
Assessment |
Wholesale of granite and marble. |
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Industry/
Customers |
Retailers and manufacturers |
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Export |
None |
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Major
Industry Code / SICC |
61430 Wholesale Retail |
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Definition
of Code |
Wholesale trade in construction materials,
hardware, plumbing and heating. |
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Head
Office Physical Address |
Unit 5 Chardonnay Street SAXENBURG PARK Cape Town |
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Head
Office Postal Address |
P O Box 1408 GEORGE 6530 |
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Current Tel
Number |
021 9057986 |
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Current Fax
Number |
021 9057981 |
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Current Email
Address |
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Web Site Address |
None |
Auditors Information
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Company
Registered Name |
MAZARS |
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Trading Name |
None |
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Registration
Number |
Partnership |
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Physical Address |
132 Mitchell Street GEORGE 6530 |
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Postal Address |
P O Box 963 GEORGE 6530 |
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Contact Person |
JOHAN LAUBSHER |
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Contact Number |
044 8745022 |
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Directors/
Members/ Partners |
5 partners in George |
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Subject Verified
as Client |
Yes |
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Profession number |
900222 |
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BEE Status |
Level 3 |
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Website |
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Years With
Auditors |
In total 16 years |
Previous Auditors
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Company Name/ Tel |
Time With Previous Auditors |
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NORTHPLAN CHARTERED ACCOUNTANTS |
Unknown |
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MOORES ROWLAND |
Unknown |
Tax Information
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Vat Number |
4260220472 |
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Status |
Active |
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Vat Liable Date |
September (bi monthly) |
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Tax Number |
9124932154 |
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Tax Clearance
Expire Date |
Unknown |
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Financial Year
End |
December |
Black Economic
Empowerment
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Status |
None |
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Score |
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Expire Date |
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BEE Certificate
Available |
Yes/No |
ISO Status
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Type of ISO
Grade |
None |
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ISO Certificate |
Yes/No |
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ISO Certificate
Available |
Yes/No |
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Certified by
anAccredited Agent |
Yes/No |
Workman’s
compensation
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Registered |
Yes |
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Compliance
Certified |
Yes |
Company
Structure
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Branches |
None |
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Branches Names |
Country |
Province |
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None |
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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 |
7 |
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1.
Salaried
employees |
7 |
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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 |
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Fleet Operations |
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The Fleet is
made up of |
2 |
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1.
Cars |
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2.
Light
Delivery Vehicles |
1 |
Owned |
R230 000 |
Still on HP,
outstanding amount not known |
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3.
Trailers |
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4.
Busses |
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5.
Trucks |
1 |
Owned |
R400 000 |
Nil |
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6.
Fork
Lifts |
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7.
Other |
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Head
OfficeOwned/ Rented |
Rented |
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Rental Company |
MONDTIN PROPERTIES |
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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 |
2 years |
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Lease Expire
Date |
Oct/Nov 2012 |
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Type of Premises |
Office and warehouse |
Trade References
The business imports all of its products and only deals locally with a
clearing agent.
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Supplier |
Contact |
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CLEARFREIGHT |
021 5518424 |
Trade References
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Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
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7 years |
R100 000 |
R30 000 |
30 days |
R30 000 |
30 days |
Excellent |
Adverse
Information on Subject
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Judgements |
None |
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Possible
Judgements |
None |
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Civil Court
Records |
None |
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RDs |
None |
Default Data
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Date |
Details |
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None |
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Notarial Bonds
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Date |
Details |
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None |
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Deeds Information
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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
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Bank |
STANDARD BANK |
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Branch |
TYGERVALLEY |
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Bank Account
Number |
060742860 |
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Type of Account |
Current |
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Branch Code |
050410 |
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Account Name |
MULTISTONE CAPE CC |
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Date Opened |
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Bank Code |
Awaiting a bank code |
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Bank Comment |
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Bank CodesHistory
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Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
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None |
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Previous Bank
Accounts
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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
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CURRENT ASSETS |
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Stock |
R400 000 – R600 000 |
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Debtors |
R650 000 |
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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 |
R500 000 |
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Loans/ From? |
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LONG TERM
LIABILITIES |
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Morgage Bonds |
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MONTHLY Turnover |
R650 000 |
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Previous Year
Turnover |
R6 000 000 |
Principals
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Number of
Principals |
1 |
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Average
Age of Active Principals |
55 |
Active Principals
Principal 1 of 1
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Surname |
BURGER |
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First Names |
GERRIT |
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Marital Status |
Married |
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ID Number |
5605065066087 |
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Verified ID
Number |
Yes |
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Current Age |
55 |
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Designation |
Member |
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Status |
Active |
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Appointment Date |
2005-05-06 |
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Address (at time of
Appointment) |
Olienhoutstraat 7 Amandelrig KUILSRIVER 7579 |
Adverse
Information on Principal
Judgement
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Number of Judgements |
None |
Debt
Review
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Debt review |
None |
Other
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Default data |
None |
Business
Information on Principal
Current
Business Interests
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
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None |
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Previous Business
Interests
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Average Age of
Previous Business Interests |
None |
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
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None |
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Deeds Information
Property Interests of
Principle
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Property Interest |
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Title Deed No. |
None |
Erf/Site No. |
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Deeds Office |
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Physical Address |
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Property Type |
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Extent / Size |
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Purchase Date |
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Purchase price |
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% Ownership |
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Bond Holder |
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Bond Number |
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Bond Amount |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.37 |
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UK Pound |
1 |
Rs.73.53 |
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Euro |
1 |
Rs.64.37 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.