%20LTD%20%20-%20160560%202%2006-Dec-2011_files/image002.jpg){kind=small}
MIRA INFORM REPORT
|
Report Date : |
06.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
POLYDYE (PTY) LTD. |
|
|
|
|
Registered Office : |
18 Republic Street, Verulam, Kwazulu Natal |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
13.04.1999 |
|
|
|
|
Com. Reg. No.: |
M1999/007411/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Dressing dyeing of fur,
manufacture artificial fur, apparel & articles |
|
|
|
|
No. of Employees
: |
80 Persons |
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 : |
Small Company |
|
|
|
|
Payment
Behaviour : |
Unknown |
|
|
|
|
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 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
South Africa |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Assessment:
This is a well-established family business.
The subject is meeting its local small commitments timeously.
Your figure is considered as too high.
In view of the absence of financial information it is suggested security
be sought when dealings are contemplated.
Company Information
|
Registered
Name |
POLYDYE (PTY) LTD |
|
Trading
as/ Division Name |
None |
|
Previous Name |
None |
|
Date of Name
Change |
N/A |
|
Registration
Number |
M1999/007411/07 |
|
Registration
Date |
13 April 1999 |
|
Date Commenced Trading |
1999 |
|
History of
Business |
The subject commenced as a new business in 1999 |
|
Shareholders of
subject and % holding |
MR A VALJEE is the majority shareholder and the remainder of the share
are held between the directors. |
|
Authorised Share
Capital |
R Nominal |
|
Issued Share
Capital |
R Nominal |
|
Age of Company |
12 years 7 months |
|
Status |
This Business is Active |
|
Operations
Assessment |
The subject is a texturizing and dyeing plant
which is involved in dyeing of polyester filament yarn, cotton, spun
polyester, acrylic, poly / cotton yarns. |
|
Industry/
Customers |
Manufacturers of textiles and fabrics |
|
Export |
None |
|
Major Industry
Code / SICC |
31500 MANUFACTURING |
|
Definition of
Code |
Dressing
dyeing of fur, manufacture artificial fur, apparel & articles |
|
Head Office
Physical Address |
18 Republic Street VERULAM KwaZulu Natal 18 Green St, Hammarsdale, Cato Ridge, South Africa It was stated that the manufacturing plant
is situated at 18 Green Road, Hammersdale, KwaZulu Natal. |
|
Head Office
Postal Address |
P O Box 30 VERULAM 4340 PO Box 216, Hammarsdale, Cato Ridge, South Africa |
|
Current Tel
Number Cell number |
032 533 1070/ 031 736 3299 |
|
Current Fax
Number |
032 533 1074/ 031 736 3336 |
|
Current Email
Address |
|
|
Web Site Address |
None |
Auditors
Information
|
Company Registered
Name |
SAB AND T DURBAN |
|
Trading Name |
None |
|
Registration
Number |
2009, originally from 1990’s |
|
Physical Address |
15 Summit Road SHERWOOD Durban |
|
Postal Address |
P O Box 4058 SHERWOOD 4058 |
|
Contact Person |
MR POPAT |
|
Contact Number |
031 2759400 |
|
Email |
pradip@sabtdbn.co.za |
|
Principals |
2 |
|
Subject Verified
as Client |
Yes |
|
SAICA number |
903773 |
|
BEE Status |
Yes, Level 1 |
|
Financial Year
End |
February |
|
Years With
Auditors |
Many |
|
Website |
www.sab-t.co.za |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
None |
|
Tax Information
|
Vat Number |
4930181096 |
|
Status |
Active |
|
Vat Liable Date |
Unknown |
|
Tax Number |
9243204204 |
|
Tax Clearance Expire
Date |
February and August |
|
Financial Year
End |
February |
Black Economic
Empowerment
|
Status |
Yes |
|
Score |
Level unknown |
|
Expire Date |
|
|
BEE Certificate
Available |
Yes/No |
ISO Status
|
Type of ISO
Grade |
None |
|
ISO Certificate |
|
|
ISO Certificate
Available |
|
|
Certified by an
Accredited Agent |
|
Workman’s
compensation
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
Company Structure
|
Branches |
Factory in
Hammarsdale |
|
Branches Names |
Country |
Province |
|
POLYDYE (PTY)
LTD |
South Africa |
Kwazulu Natal |
|
Subsidiary
Company |
None |
|
Shareholding |
|
|
Registration
Number |
|
|
Import / Export |
|
|
Number of
Employees |
80 |
|
1.
Salaried
employees |
80 |
|
2.
Waged
employees |
|
|
3.
Permanent
employees |
80 |
|
4.
Casual
employees |
|
|
5.
Contracted
employees |
|
Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding
Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is
made up of |
5 |
|
|
|
|
1.
Cars |
5 |
Owned |
Unknown |
None |
|
2.
Light
Delivery Vehicles |
|
|
|
|
|
3.
Trailers |
|
|
|
|
|
4.
Busses |
|
|
|
|
|
1.
Trucks |
|
|
|
|
|
2.
Fork
Lifts |
|
|
|
|
|
3.
Other |
|
|
|
|
Head Office |
Owned by JMV TEXTILES |
Factory leased |
|
Lease Agreement |
Group company/ ongoing lease |
Unknown |
|
Lease Expire
Date |
Monthly |
Unknown |
|
Type of Premises |
Factory and offices |
Factory |
Trade References
|
Supplier |
Contact |
|
1)
BEARING
MAN |
031 7138580 |
|
2)
CHEMLOG |
031 5794090 |
|
3)
CHEMEX |
031 7363140 |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1)
1999 |
R20 000 |
R7 000 |
30 days |
R4 500- R7 000 |
30 days |
Very Good |
|
2)
2008 |
None |
R2 500 |
30 days |
R1 000- R2 100 |
30 days |
Excellent |
|
3)
Unable |
To |
Obtain |
A |
Trade |
Reference |
|
Adverse
Information on Subject
|
Judgements |
None |
|
Possible
Judgements |
None |
|
Civil Court
Records |
None |
|
RDs |
None |
Default Data
|
Date |
Details |
|
None |
|
Notarial Bonds
|
Date |
Details |
|
None |
|
Deeds Information
Property Interests
|
Title Deed No. |
T16561/2009 |
Erf/Site No. |
|
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
2 Buckman Hammersdale – Sterkspruit Mpumalanga |
|
Property Type |
farms |
Extent / Size |
4.1427H |
|
Purchase Date |
2008-11-27 |
Purchase price |
R4 950 000 |
|
% Ownership |
|
Bond Holder |
Bank of Baroda |
|
Bond Number |
B85382009 |
Bond Amount |
R3 960 000 |
Bank Information
|
Bank |
Bank of Baroda and Standard Bank 91/121,
Cowies Road, Berea, Durban 4001 South
Africa Contact
Person: Mr.Umesh Contact
No.+27 31 2090133 |
Other banking
details were declined by the subject.
Bank CodesHistory
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
|
No information on record |
|
|
|
|
|
|
Previous Bank
Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
No information on record |
|
|
|
|
|
Financial Information
Financial information was not forthcoming from Ms T Moodley.
Principals
|
Number of
Principals |
7 |
|
Average Age of
Active Principals |
53 years |
Active Principals
Principal 1 of 7: VIRESH
VALJEE
|
Surname |
VALJEE |
|
First Name |
VIRESH |
|
Other Names |
None |
|
Marital Status |
Married |
|
ID Number |
6303025147085 |
|
Verified ID Number |
Yes |
|
Current Age |
48 |
|
Designation |
Director |
|
Status |
Active
|
|
Appointment Date |
1999-09-02 |
|
Physical Address (at time of Appointment) |
54
Round The Green SUNNINGDALE 4051 |
Judgement
|
Number of Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information for VIRESH VALJEE
Current Business
Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
HOUSE OF KNITS (PTY) LTD |
M2000/008875/07 |
In business |
11 years 6 months |
0 |
No |
Previous Business
Interests
|
Average Age of Previous Business Interests |
None |
Deeds Information
Property Interests for
VIRESH VALJEE
|
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 |
|
Principal 2 of 7:
SURESH VALJEE
|
Surname |
VALJEE |
|
First Name |
SURESH |
|
Other Names |
M |
|
Marital Status |
Married |
|
ID Number |
5510265165087 |
|
Verified ID Number |
Yes
|
|
Current Age |
56 |
|
Designation |
Director |
|
Status |
Active
|
|
Appointment Date |
1999-09-02 |
|
Physical Address (at time of Appointment) |
480
Park Station Road GREENWOOD
PARK Durban 4051 |
Adverse Information for
SURESH VALJEE
Judgement
|
Number of Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information
for SURESH VALJEE
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
RAFFER INVESTMENTS (PTY) LTD |
M1997/012998/07 |
Deregistration process |
14 years 3 months |
0 |
No |
|
HOUSE OF KNITS (PTY) LTD |
M2000/008875/07 |
In business |
11 years 6 months |
0 |
No |
|
SMV PROPERTIES CC |
B2009/104134/23 |
In business |
2 years 6 months |
0 |
No |
|
SMV INVESTMENTS CC |
B2009/104294/23 |
In business |
2 years 6 months |
0 |
No |
Previous Business
Interests
|
Average Age of Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
No
information on record |
|
|
|
|
|
Deeds Information
Property Interests for
SURESH VALJEE
|
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 |
|
Principal 3 of 7:
HARESH VALJEE
|
Surname |
VALJEE |
|
First Name |
HARESH |
|
Other Names |
None |
|
Marital Status |
Married |
|
ID Number |
5102205092082 |
|
Verified ID Number |
Yes
|
|
Current Age |
60 |
|
Designation |
Director |
|
Status |
Active
|
|
Appointment Date |
1999-09-02 |
|
Physical Address (at time of Appointment) |
484
Park Station Road GREENWOOD
PARK 4051 |
Adverse Information for
HARESH VALJEE
Judgement
|
Number of Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information for HARESH VALJEE
Current Business
Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
VALVIEW INV (PTY) LTD |
M1966/006385/07 |
In business |
45 years 4 months |
0 |
No |
|
HOUSE OF KNITS (PTY) LTD |
M2000/008875/07 |
In business |
11 years 6 months |
0 |
No |
Previous
Business Interests
|
Average Age of Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
No
information on record |
|
|
|
|
|
Deeds Information
Property
Interests for HARESH VALJEE
|
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 |
|
Principal 4 of 7: ANISH
VALJEE
|
Surname |
VALJEE |
|
First Name |
ANISH |
|
Other Names |
J
M |
|
Marital Status |
Married |
|
ID Number |
7107165166089 |
|
Verified ID Number |
Yes
|
|
Current Age |
40 |
|
Designation |
Director
|
|
Status |
Active
|
|
Appointment Date |
1999-09-02 |
|
Physical Address (at time of Appointment) |
66
Addison Drive LA
LUCIA 4051 |
Adverse Information for
ANISH VALJEE
Judgement
|
Number of Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information
for ANISH VALJEE
Current Business
Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
HOUSE OF KNITS (PTY) LTD |
M2000/008875/07 |
In business |
11 years 6 months |
0 |
No |
|
NKB MANUFACTURERS CC |
B2005/148841/23 |
Deregistration process |
6 years 1 month |
0 |
No |
Previous Business
Interests
|
Average Age of Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
No
information on record |
|
|
|
|
|
Deeds Information
Property Interests for
ANISH VALJEE
|
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 |
|
Principal 5 of 7:
GIRESH VALJEE
|
Surname |
VALJEE |
|
First Name |
GIRISH |
|
Other Names |
C |
|
Marital Status |
Married |
|
ID Number |
6108265155080 |
|
Verified ID Number |
Yes
|
|
Current Age |
50 |
|
Designation |
Director
|
|
Status |
Active
|
|
Appointment Date |
1999-09-02 |
|
Physical Address (at time of Appointment) |
27
Sunshine Drive SUNNINGDALE 4051 |
Adverse Information for GIRISH
VALJEE
Judgement
|
Number of Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information for GIRISH VALJEE
Current Business
Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
JAYSYNTH DYECHEM AFRICA (PTY) LTD |
M1995/002610/07 |
Deregistration process |
16 years 8 months |
0 |
No |
|
HOUSE OF KNITS (PTY) LTD |
M2000/008875/07 |
In business |
11 years 6 months |
0 |
No |
|
VALJEE PROPERTY CC |
M2004/112291/23 |
In business |
7 years 1 month |
0 |
No |
|
CHOONILAL MOHANLAL VALJEE INVESTMENTS CC |
B2005/015456/23 |
In business |
6 years 9 months |
0 |
No |
Previous Business
Interests
|
Average Age of Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
No
information on record |
|
|
|
|
|
Deeds Information
Property Interests for
GIRISH VALJEE
|
Title Deed No. |
ST27443/2005 |
Erf/Site No. |
31978 |
|
Deeds Office |
CAPE
TOWN |
Physical Address |
Rosebank Southern Suburbs |
|
Property Type |
Sectional
Title / Unit |
Extent / Size |
42.0sqm |
|
Purchase Date |
2005-08-03 |
Purchase price |
R550 000.00 |
|
% Ownership |
|
Bond Holder |
ABSA Bank Ltd |
|
Bond Number |
SB195892005 |
Bond Amount |
R495 000.00 |
|
Title Deed No. |
T2642/2008 |
Erf/Site No. |
|
|
Deeds Office |
CAPE
TOWN |
Physical Address |
Rosebank Southern Suburbs |
|
Property Type |
Freehold
/ Ervin |
Extent / Size |
106.0sqm |
|
Purchase Date |
2007-09-28 |
Purchase price |
R1 500 000.00 |
|
% Ownership |
|
Bond Holder |
Nedbank Ltd |
|
Bond Number |
B25942008 |
Bond Amount |
R1 500 000.00 |
Principal 6 of 7:
JASOOK VALJEE
|
Surname |
VALJEE |
|
First Name |
JAISOOK |
|
Other Names |
None |
|
Marital Status |
Married |
|
ID Number |
3904135071058 |
|
Verified ID Number |
Yes
|
|
Current Age |
72 |
|
Designation |
Director |
|
Status |
Active
|
|
Appointment Date |
1999-09-02 |
|
Physical Address (at time of Appointment) |
66
Addison Avenue LA
LUCIA 4051 |
Adverse Information for
JAISOOK VALJEE
Judgement
|
Number of Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information
for JAISOOK VALJEE
Current Business
Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
MOHANLAL VALJEE (PTY) LTD |
M1957/002591/07 |
Deregistration process |
54 years 3 months |
0 |
No |
|
OJAM INVESTMENTS (PTY) LTD |
M1966/006254/07 |
In business |
45 years 4 months |
0 |
No |
|
J M V TEXTILES (PTY) LTD |
M1971/001026/07 |
In business |
40 years 10 months |
0 |
No |
|
VALVICK INVESTMENTS (PTY) LTD |
M1975/002639/07 |
In business |
36 years 3 months |
0 |
No |
|
USHANA PROPERTY INVESTMENTS (PTY) LTD |
M1987/005784/07 |
In business |
24 years |
0 |
No |
|
GOOD FOOD RESTAURANT CC |
B1991/010092/23 |
Deregistration process |
20 years 7 months |
0 |
No |
|
VERULAM KNITTING (PTY) LTD |
M1992/004335/07 |
Deregistration process |
19 years 4 months |
0 |
No |
|
JAYSYNTH DYECHEM AFRICA (PTY) LTD |
M1995/002610/07 |
Deregistration process |
16 years 8 months |
0 |
No |
|
HOUSE OF KNITS (PTY) LTD |
M2000/008875/07 |
In business |
11 years 6 months |
0 |
No |
Previous Business Interests
|
Average Age of Previous Business Interests |
47
years 8 months |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
VALBRO INVESTMENTS (PTY) LTD |
1961/001275/07 |
In business |
50 years 2 months |
0 |
No |
|
VALVIEW INV (PTY) LTD |
1966/006385/07 |
In business |
45 years 4 months |
0 |
No |
Deeds Information
Property Interests for
JAISOOK VALJEE
|
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 |
|
Principal 7 of 7: AJIT
VALJEE
|
Surname |
VALJEE |
|
First Name |
AJIT |
|
Other Names |
C |
|
Marital Status |
Married |
|
ID Number |
6501115173057 |
|
Verified ID Number |
Yes |
|
Current Age |
46 |
|
Designation |
Director |
|
Status |
Active
|
|
Appointment Date |
1999-09-02 |
|
Physical Address (at time of Appointment) |
485
Park Station Road GREENWOOD
PARK Durban 4051 |
Adverse Information for
AJIT VALJEE
Judgement
|
Number of Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information for AJIT VALJEE
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
THE HOUSE OF DENIM CC |
B1990/014436/23 |
Deregistration process |
21 years 7 months |
0 |
No |
|
HOUSE OF KNITS (PTY) LTD |
M2000/008875/07 |
In business |
11 years 6 months |
0 |
No |
|
VALJEE PROPERTY CC |
B2004/112291/23 |
In business |
7 years 1 month |
0 |
No |
|
CHOONILAL MOHANLAL VALJEE INVESTMENTS CC |
B2005/015456/23 |
In business |
6 years 9 months |
0 |
No |
Previous Business
Interests
|
Average Age of Previous Business Interests |
14
years 7 months |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
FIFI’S
JEWELLERS CC |
1997/017281/23 |
Deregistration final |
14 years 7 months |
0 |
No |
Deeds Information
Property Interests for
AJIT VALJEE
|
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.51.40 |
|
UK Pound |
1 |
Rs.80.20 |
|
Euro |
1 |
Rs.68.92 |
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.