MIRA INFORM REPORT
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Report Date : |
24.08.2011 |
IDENTIFICATION DETAILS
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Name : |
ARGUS MOTORS CC |
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Registered Office : |
28 Great North Road, Benoni, 1501 |
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Country : |
South Africa |
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Date of Incorporation : |
12.09.2007 |
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Com. Reg. No.: |
2007/180756/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Motor and Truck Distributors |
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:
This is an established business which is owned
by a family, and originally started trading in 1955.
Contact was made with the Managing Member, MR L
RAFF, who stated that he is not prepared to assist with any information other
than confirming the details below.
In view of the lack of full information and a
payment pattern we cannot speak to your figure.
Company Information
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Registered
Name |
ARGUS MOTORS CC |
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Trading
as/ Division Name |
ARGUS MOTOR COMPANY |
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Previous Name |
None |
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Date of Name
Change |
N/A |
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Registration
Number |
2007/180756/23 |
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Registration
Date |
2007-09-12 |
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Date Commenced
Trading |
2007 |
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History of
Business |
The subject is reported to have been inexistence since 1955 and was
originally a (Pty) Ltd company |
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Members
of subject and % holding |
25%M RAFF 25% E RAFF 25% R RAFF 25% LM RAFF |
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Age of Company |
3 Years 11 Months |
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Status |
In Business |
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Operations
Assessment |
Motor and truck distributors |
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Major Industry
Code / SICC |
63110 Wholesale Retail |
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Definition of
Code |
Wholesale sale of motor vehicles. |
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Head Office
Physical Address |
28 Great Noth Road BENONI 1501 |
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Head Office Postal
Address |
P O Box 13 BENONI 1500 |
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Current Tel
Number |
011 7475200 |
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Current Fax
Number |
011 9733700 |
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Current Email
Address |
Auditors Information
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Partnership Name |
GLASSTUCKER AND VENTER |
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Physical Address |
29 Wessels Road RIVONIA Sandton |
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Postal Address |
P O Box 763 RIVONIA 2128 |
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Contact Number |
011 8078370 |
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Email |
info@gtvauditors.co.za |
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Contact Person |
MR TUCKER |
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Subject Verified
as Client |
Yes |
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SAICA number |
917974E |
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Years With
Auditors |
30 years |
Previous Auditors
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Company Name/ Tel |
Time With Previous Auditors |
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None |
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Tax Information
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Vat Number |
4960220509 |
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Status |
Declined |
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Vat Liable Date |
Declined |
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Tax Number |
9072146179 |
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Tax Clearance
Expire Date |
Declined |
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Financial Year
End |
June |
Black Economic
Empowerment
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Status |
Declined |
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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 |
Declined |
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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 |
Declined |
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Compliance
Certified |
Yes/No |
Company Structure
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Branches |
Declined |
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Subsidiary
Company |
Declined |
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Shareholding |
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Registration
Number |
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Import / Export |
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Number of
Employees |
Declined |
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1.
Salaried
employees |
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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 |
Declined |
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1.
Cars |
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2.
Light
Delivery Vehicles |
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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 |
Declined |
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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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Trade References
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Supplier |
Contact |
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DECLINED |
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Trade References
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Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
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Unable to Obtain |
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Adverse
Information on Subject
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Judgements |
None |
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Possible
Judgements |
None |
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Civil Court |
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 |
Declined |
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Branch |
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Bank Account
Number |
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Financial Information
Financial
Estimates
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ANNUAL / MONTHLY
Turnover |
Declined |
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Previous Year
Turnover |
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Estimated
Current Year Turnover |
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Principals
It was stated by the Managing Member of the subject that there are 4
members who are brothers namely:
25% M RAFF
25% E RAFF
25% R RAFF
25% L M RAFF
Details have not been updated as yet at the CIPC (formerly CIPRO) and we
only have the information below:
Active Principals
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Surname |
RAFF |
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First Names |
MARK |
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ID Number |
5608305095007 |
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Verified ID
Number |
Yes |
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Current Age |
55 |
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Status |
Active |
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Appointment Date |
Not on Record |
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Address (at time of
Appointment) |
37 Bradfield Drive FAIMOUNT EXTENSION 2192 |
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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RAFF
FAMILY INVESTMENT CC |
1991/020719/23 |
In Business |
0 |
No |
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L
R M E INVESTMENTS CC |
1995/023228/23 |
In Business |
0 |
No |
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ARGUS
MOTOR COMPANY (PTY) LTD |
2005/012234/07 |
Conversion CC to
CO |
0 |
No |
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GREAT
NORTH MOTORS (PTY) LTD |
2005/013672/07 |
Deregistration
Process |
0 |
No |
Previous Business
Interests
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Average Age of
Previous Business Interests |
13 years |
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
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RAFF SHILL USED
CAR SALES CC |
1997/056528/23 |
Deregistration
Final |
0 |
No |
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ERROL
INVESTMENTS CC |
1999/031677/23 |
In Business |
0 |
No |
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.45.69 |
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UK Pound |
1 |
Rs.75.29 |
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Euro |
1 |
Rs.65.77 |
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.