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MIRA
INFORM REPORT
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Report Date : |
03.12.2011 |
IDENTIFICATION DETAILS
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Name : |
DANNY’S AUTO BODY PARTS (PTY) LTD |
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Registered Office : |
Cnr. Rosettenville and Marlborough Road Springfield Johannesburg
Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
04.05.1959 |
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Com. Reg. No.: |
M1959/001487/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Wholesaling of automotive spare parts and
accessories. |
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No. of Employees : |
250 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 a well established company.
The subject is meeting its commitments
timeously.
The
subject’s bankers consider them good for all business normal engagements and an
amount of R1 500 000 over 30 days.
It
would be suggested dealings be spread.
Company Information
|
Registered
Name |
DANNY’S AUTO BODY PARTS (PTY) LTD |
|
Trading
as/ Division Name |
DANNY’S AUTOMOTIVE |
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Registration
Number |
M1959/001487/07 |
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Registration
Date |
1959-05-04 |
|
History of
Business |
The subject was commenced as a new business. |
|
Shareholders of subject
and % holding |
20% A ISMAIL 50% COOPERMAN FAMILY HOLDINGS (PTY) LTD – registration certificate
number: M1984/005879/07 30% ALL HOLLOWAY INVESTMENT HOLDINGS – in the UK |
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Authorised Share
Capital |
1 000 ordinary R1 shares |
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Issued Share Capital |
100 |
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Age of Company |
52 years 6 months |
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Status |
Active |
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Operations
Assessment |
Wholesaling of automotive spare parts and
accessories. |
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Industry/
Customers |
Retailers and automotive service centers |
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Area of
Distribution |
South Africa |
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Export |
Indirectly to Sub-Saharan Africa |
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Major Industry
Code / SICC |
63319 WHOLESALE
RETAIL |
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Definition of
Code |
Sale of other new motor vehicle parts and
accessories |
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Head Office
Physical Address |
Cnr. Rosettenville and Marlborough Road SPRINGFIELD Johannesburg Gauteng The subject moved from the premises:
2 Laub Street, New Centre, Johannesburg. |
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Head Office
Postal Address |
P O Box 61057 MARSHALLTOWN 2107 |
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Current Tel
Number Cell number |
011 682 5600 |
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Current Fax
Number |
011 434 0434 |
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Current Email
Address |
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Web Site Address |
None |
Auditors Information
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Company
Registered Name |
NEXIA LEVITT KIRSON |
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Registration
Number |
Partnership |
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Physical Address |
4th Floor Aloe Grove Houghton Estate Office Park 2 Osborn Road HOUGHTON |
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Postal Address |
P O Box 1523 JOHANNESBURG 2000 |
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Contact Person |
Sydney Loewenthal |
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Contact Number |
011 483 4000 |
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Email |
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Principals |
7 |
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Subject Verified
as Client |
Yes |
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Profession
number |
903825E |
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BEE Status |
None |
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Years With
Auditors |
6 years |
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Website |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
LEVITT KIRSON |
30 years |
Tax Information
|
Vat Number |
4730107564 |
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Status |
Active |
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Vat Liable Date |
1991-09-30 |
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Tax Number |
9155046841 |
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Financial Year
End |
June |
Black Economic Empowerment
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Status |
Yes |
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Score |
Level 8 |
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Expire Date |
November 2012 |
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BEE Certificate
Available |
No |
ISO Status
|
Type of ISO
Grade |
None |
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ISO Certificate |
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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
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Branches |
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 |
250 |
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1.
Salaried
employees |
√ |
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2.
Waged
employees |
√ |
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3.
Other
employees |
Excluding 20
flexi staff |
Company Fleet |
No of vehicles: |
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Fleet Operations |
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The Fleet is
made up of |
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1.
Light
Delivery Vehicles |
15 |
The vehicles are all fully paid up and is
reported to be owned by the subject with a cost value of R3 000 000.
Head
OfficeOwned/ Rented |
The premises are owned by DANNY’S AUTO PROPERTY HOLDINGS (PTY) LTD |
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Value |
Purchased price of R7 000 000 and a market value of
R53 000 000. |
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Bond |
The premises are bonded in favour of First National Bank. |
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Type of Premises |
The premises comprise of administration offices and warehousing
facilities. |
Trade References
The subject imports from China, India,
France, Taiwan, Turkey, Italy and occasionally to Dubai and the UK.
|
Supplier |
Contact |
|
1.
BUFFALO FREIGHT |
011 496
3535 |
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2.
C & J SERVICES |
031 205
9365 |
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3.
CGI AUTO |
031 263
0717 |
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4.
GRANDMARK |
011 226
9000 |
Trade References
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Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
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1.
Do |
not give |
trade |
references |
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2.
Do |
Not give |
Trade |
references |
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3.
2002 |
R2 000 000 |
R800 000 |
30 |
R800 000 |
30 |
Good |
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4.
2003 |
R400 000 |
R50 000 |
30 |
R50 000+- |
30 EFT |
Excellent |
Adverse Information on Subject
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Judgements |
No information on record |
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Possible
Judgements |
No information on record |
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Civil Court |
No information on record |
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RDs |
No information on record |
Default Data
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Date |
Details |
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No information on record |
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Notarial Bonds
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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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Property Type: |
No information on record |
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 |
FIRST NATIONAL BANK |
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Branch |
Carleton Centre |
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Bank Account
Number |
50570302923 |
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Type of Account |
Cheque |
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Branch Code |
250205 |
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Account Name |
DANNY’S AUTO BODY PARTS (PTY) LTD |
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Overdraft
Facilities |
The subject enjoys an overdraft facility to an extent of
R12 000 000, secured by a cession of debtors. The overdraft facility is utilized for
working capital purposes. |
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Bank Code |
C |
|
Bank Comment |
The subject’s bankers
consider them good for all business normal 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 |
R 60 000 000 |
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Debtors |
R 30 000 000 – R35 000 000 |
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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 |
Nil |
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CURRENT
LIABILITIES |
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Creditors |
R 5 000 000 |
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Shareholders /
Directors Loans |
Nil |
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LONG TERM
LIABILITIES |
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Morgage Bonds |
Nil |
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MONTHLY Sales |
R 20 000 000 – R25 000 000 |
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Previous Year
Turnover |
R249 000 000 |
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Estimated
Current Year Turnover |
R265 000 000 |
Principals
|
Number of
Principals |
1 |
|
Average Age of
Active Principals |
53 |
Active Principals
Principal 1 of 1
|
Surname |
ISMAIL |
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First Names |
AHMED |
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Marital Status |
Married in community |
|
ID Number |
5809045196085 |
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Verified ID
Number |
Yes |
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Current Age |
53 |
|
Designation |
Businessman / director |
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Status |
Active |
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Appointment Date |
2001-05-08 |
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Address (at time
of Appointment) |
809 Hyde Street LENASIA SOUTH Johannesburg 1827 |
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 |
|
DANNY’S AUTO
PROPERTY HOLDINGS (PTY) LTD |
M2004/019248/07 |
In business |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
6 years 2 months |
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
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SPARES DIRECT
AND FITMENT (PTY) LTD |
M2005/035069/07 |
In business |
0 |
No |
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
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Title Deed No. |
No information on record |
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.35 |
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|
1 |
Rs.80.50 |
|
Euro |
1 |
Rs.69.14 |
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 |
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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 |
|
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 |
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-- |
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.