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MIRA INFORM REPORT
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Report Date : |
17.08.2011 |
IDENTIFICATION DETAILS
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Name : |
TRIDENT SADDLERY (PTY) LTD |
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Formerly Known As : |
H I MERWITZ (PTY) LTD |
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Registered Office : |
5th Floor Genop House 15 Hulbert Street New Centre
Johannesburg Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
10.08.1965 |
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Com. Reg. No.: |
1965/006811/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturing and wholesaling of various
equestrian products such as safety helmets, saddles, bridles, clothing and
accessories. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
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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
This is a well established company.
The subject is meeting commitments up to an
amount of R150 000 over 30 days timeously.
The subject effects a substancial turnover and
is considered as equal to its normal business engagements.
A bank code revealed a C, subject equal to its
normal business engagements.
Your amount is considered too
high.
Company Information
|
Registered
Name |
TRIDENT SADDLERY (PTY) LTD |
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|
Previous Name |
H I MERWITZ (PTY) LTD |
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Date of Name
Change |
2010 |
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Registration
Number |
1965/006811/07 |
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Registration
Date |
10 August 1965 |
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Date Commenced
Trading |
1961 |
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History of
Business |
The subject was commenced in 1961 as a feed merchant. |
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Shareholders of
subject and % holding |
100% H I MERWITZ |
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IssuedShare
Capital |
R100 |
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Age of Company |
45 years 11 months |
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Status |
Active |
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Operations
Assessment |
Manufacturing and wholesaling of various equestrian
products such as safety helmets, saddles, bridles, clothing and accessories. |
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Industry/
Customers |
Retailers and on a smaller scale to the
general public. |
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Area of
Distribution |
South Africa |
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Exporting |
African countries and occasionally Dubai
and Ireland. |
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Major Industry
Code / SICC |
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Definition of
Code |
Manufacture of other general goods of leather & substitutes
&saddlery |
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Head Office
Physical Address |
5th Floor Genop House 15 Hulbert Street NEW CENTRE Johannesburg Gauteng |
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Head Office
Postal Address |
P O Box 74343 TURFFONTEIN 2140 |
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Current Tel
Number Cell number |
011 493 8514 |
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Current Fax
Number |
011 493 0119 |
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Current Email
Address |
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Web Site Address |
Auditors Information
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Company
Registered Name |
OCTAGON |
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Trading Name |
Partnership |
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Physical Address |
21 Scott Street WAVERLEY 2090 |
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Postal Address |
Private Bag X02 HIGHLANDS NORTH 2037 |
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Contact Person |
Anthony Feinberg |
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Contact Number |
011 531 7300 |
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Email |
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Principals |
4 |
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Subject Verified
as Client |
Yes |
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Practice number |
944351 |
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BEE Status |
Level 3 |
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Website |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
HERBERT AND TRACKMAN |
30 years |
Tax Information
|
Vat Number |
9020625878 |
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Status |
Active |
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Vat Liable Date |
25 August 2011 |
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Tax Number |
4490117944 |
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Tax Clearance
Expire Date |
November 2011 |
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Financial Year
End |
FEBRUARY |
Black Economic Empowerment
|
Status |
Yes |
|
Score |
Level 7 |
|
Expire Date |
In process of reapplying |
|
BEE Certificate
Available |
Yes |
ISO Status
|
Type of ISO
Grade |
No |
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ISO Certificate |
None |
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ISO Certificate
Available |
No |
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Certified by
anAccredited Agent |
No |
Workman’s compensation
|
Registered |
Yes |
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Compliance
Certified |
Yes |
Company Structure
|
Branches |
The subject has
a branch, which comprise of a retail store in Bloemfontein, Free State. |
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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 |
50 total |
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1.
Salaried
employees |
16 |
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2.
Waged
employees |
34 |
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3.
Casual
employees |
Occasionally
when required |
Company Fleet |
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|
Fleet Operations |
2 |
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The Fleet is
made up of |
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1.
Cars |
1 |
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2.
Trucks |
1 X Mercedes
Benz Sprinter |
Head
OfficeOwned/ Rented |
The heading premises are leased |
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Rental Company |
CITINET |
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Lease Agreement |
3 years |
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Lease Expire
Date |
2012 |
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Type of Premises |
The heading premises comprise of a showroom, administration offices,
warehousing and manufacturing facilities. |
Branches Owned/
Rented |
The branch premises in Bloemfontein are leased. |
|
Rental Company |
REDEFINE |
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Lease Agreement |
3 years |
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Lease Expire
Date |
2012 |
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Type of Premises |
Retail store |
Trade References
The subject imports leather and saddles from UK, Germany, India,
Pakistan and China.
|
Supplier |
Contact |
|
SAFCOR |
011 570
6000 |
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HENNEWAYS |
011 879
5400 |
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CARGO COMPASS |
011 454
2010 |
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LEATHER FROM
HART |
033 398
5700 |
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MOSOP LEATHERS |
021 864 9334 |
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AVMOR HOUSEHOLD
PRODUCTS |
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Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
4 July 2011 |
Amounts |
Confidential |
30 |
Confidential |
To new |
to comment |
|
10 years+ |
R250 000 |
R50 000 |
30 |
R20 000 |
30 |
Very good |
|
Old acc |
Open |
R150 000 |
30 |
R150 000 |
30 |
Very good |
|
February 2011 |
R250 000 |
R185 000 |
30 |
R185 000 |
30 |
Good |
Adverse Information on Subject
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Judgements |
No information on record |
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Possible
Judgements |
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Civil Court
Records |
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RDs |
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Judgements
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Case Number |
No information on record |
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Amount |
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Reason |
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Court Name |
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Judgement Type |
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Judgement Date |
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Plaintiff
(Multiple) |
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Default Data
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Date |
Details |
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No information on record |
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Notarial Bonds
|
Date |
Details |
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No information on record |
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Deeds Information
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Property Interest |
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No information on record |
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Property Type: |
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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 |
Carlton Centre |
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Bank Account
Number |
001273957 |
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Type of account |
Current |
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Branch Code |
2305 |
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Account Name |
TRIDENT SADDLERY (PTY) LTD |
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Bank Code |
C |
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Bank Comment |
The subject is considered as equal to its normal business engagements. |
Bank CodesHistory
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
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No information on record |
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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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No information on record |
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Financial Information
Financial Estimates
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CURRENT ASSETS |
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|
Stock |
R4 000 000 |
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Debtors |
R2 000 000 |
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FIXED ASSETS |
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Plant,
Equipment, Vehicles – net book value |
R1 000 000 |
|
Property |
Nil |
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CURRENT
LIABILITIES |
|
|
Creditors |
R1 200 000 |
|
Loans |
Nil |
|
LONG TERM
LIABILITIES |
|
|
Morgage Bonds |
Nil |
|
ANNUAL Turnover |
R20 000 000 |
Principals
|
Number of
Principals |
2 |
|
Average Age of
Active Principals |
63 years 3 months |
Active Principals
Principal 1 of 2
|
Surname |
SHABANGU |
|
First Names |
NOMROD |
|
Marital Status |
Married |
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ID Number |
580101672088 |
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Verified ID
Number |
Yes |
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Current Age |
53 |
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Designation |
Director |
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Status |
Active |
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Appointment Date |
30 April 1998 |
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Address (at time
of Appointment) |
455 Mnisi Street MOFOLO NORTH 1852 |
Adverse Information on Principal
Judgement
|
Number of
Judgements |
No information on record |
Debt Review
|
Debt review |
No information on record |
Other
|
Default data |
No information on record |
Business Information on Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
No additional business interests |
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Previous Business Interests
|
Average Age of
Previous Business Interests |
None |
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
No information on record |
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|
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
No information on record |
Erf/Site No. |
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Deeds Office |
|
Physical Address |
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Property Type |
|
Extent / Size |
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Purchase Date |
|
Purchase price |
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% Ownership |
|
Bond Holder |
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|
Bond Number |
|
Bond Amount |
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Principal 2 of 2
|
Surname |
MERWITZ |
|
First Names |
HENRY, IVAN |
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Marital Status |
Married |
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ID Number |
3709245018000 |
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Verified ID
Number |
Yes |
|
Current Age |
74 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
8 October 1965 |
|
Address (at time
of Appointment) |
18 St Andrews Road GLEN ADRIENNE 2196 |
Adverse Information on Principal
Judgement
|
Number of
Judgements |
No information on record |
Debt Review
|
Debt review |
No information on record |
Other
|
Default data |
No information on record |
Business Information on Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
LENTREE
PROPERTIES (PTY) LTD |
1967/001634/07 |
Deregistration
process |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
No information on record |
|
|
|
|
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
No information 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.45.24 |
|
|
1 |
Rs.73.88 |
|
Euro |
1 |
Rs.65.06 |
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.