MIRA INFORM REPORT
|
Report Date : |
19.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
ARTMAR NATURAL STONE TILES CC |
|
|
|
|
Registered Office : |
365 Olympic Duel Road, Northlands Business Park, New Market Street,
North Riding, Randburg, Gauteng |
|
|
|
|
Country : |
South Africa |
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|
|
|
Date of Incorporation : |
19.09.2006 |
|
|
|
|
Com. Reg. No.: |
2006/162631/23 |
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|
|
|
Legal Form : |
Closed Corporation |
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|
Line of Business : |
Importers and wholesalers of natural stone tiles |
|
|
|
|
No. of Employees
: |
20 (9 in
Johannesburg and 11 in Cape Town) |
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 |
|
Maximum Credit Limit : |
US$1 500 000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
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 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 |
Company summary
|
Subject Name |
ARTMAR NATURAL STONE TILES CC |
|
Country |
SOUTH AFRICA |
|
Requested Credit Limit |
US$1 500 000 |
|
Enquiry Terms |
D/A |
|
Account Review |
Every 6 months |
|
Subject Contact person |
Atish Senegal – Johannesburg Branch Manager |
|
Assessment |
Total Credit Limit Exposure: Total Suretyship: This is an established family business, which imports most of its supplies. The subject is meeting its only local commitment timeously. The subject’s bankers consider them good for all business normal engagements up to an amount of R500 000 over 30 days. However, the judgement against the subject should be borne in mind. |
Company Information
|
Registered Name |
ARTMAR NATURAL STONE TILES CC |
|
Trading Name |
Artmar |
|
Registration Number |
2006/162631/23 |
|
Registration Date |
2006-09-19 |
|
Date Commenced Trading |
The subject was commenced as a new business in 2006. |
|
Age of Business |
5 years 3 months |
|
Members of subject and % holding |
50% S CANER 50% U CANER The two members are reported to be brothers. It was stated that S CANER immigrated to Australia in 2010. |
|
Members Contribution |
R100 |
|
Status |
This Business is Active |
|
Operations Assessment |
Importers and wholesalers of natural stone
tiles |
|
Industry/ Customers |
Independent retailers as well as retail
chains |
|
Area of Distribution |
South Africa |
|
Export |
None |
|
Major Industry Code / SICC |
6190 - OTHER WHOLESALE TRADE |
|
Definition of Code |
61909 Other wholesale trade
n.e.c. |
|
Head Office Physical Address |
365 Olympic Duel Road Northlands Business Park New Market Street NORTH RIDING Randburg Gauteng The Cape Town branch is situated at the premises: 51 Benetton Street, Racing Park, Killarney
Gardens. |
|
Head Office Postal Address |
P O Box 1017 NORTH RIDING 2162 |
|
Current Tel Number |
011 704 7446 |
|
Cell number |
084 671 3885 |
|
Current Fax Number |
011 704 7447 |
|
Current Email Address |
|
|
Web Site Address |
Auditors Information
|
Company Registered Name |
COLBEE ACCOUNTANTS CC |
|
Registration Number |
2007/203438/23 |
|
Physical Address |
35 Olienhout Street PLATTEKLOOF 7500 |
|
Postal Address |
P O Box 13679 NI CITY 7463 |
|
Contact Person |
Christo Bothma |
|
Contact Number |
021 911 3304 |
|
Email |
|
|
Principals |
2 |
|
Judgements Against Subject |
None |
|
Judgements Against Principals |
None |
|
Subject Verified as Client |
Yes |
|
Profession number |
19129 |
|
Tax Number |
9184746163 |
|
BEE Status |
None |
|
Financial Year End |
February |
|
Years With Auditors |
unknown |
|
Website |
Previous Auditors
|
Company Name |
Time with previous auditors |
|
WESSON BOTHMA |
Unknown |
|
CAP CHARTERED
ACCOUNTANTS |
Unknown |
Tax Information
|
Vat Number |
4740231354 |
|
Status |
Active |
|
Vat Liable Date |
2006-09-01 |
|
Tax Number |
9792912140 |
|
Financial Year End |
February |
Black Economic Empowerment
|
Status |
None |
ISO Status
|
Type of ISO Grade |
None |
Workman’s compensation
|
Registered |
Yes |
|
Compliance Certified |
No |
Company Structure
Subsidiaries
|
Subsidiary Company |
None |
|
Shareholding |
|
|
Registration Number |
|
|
Import / Export |
|
|
Associated Company |
STONE BAZAAR (PTY) LTD |
|
Shareholding |
In which the members are involved |
|
|
Registered in Turkey |
|
Operations |
Importing and exporting of tiles |
|
Number of
Employees |
9 in
Johannesburg and 11 in Cape Town |
|
1. Salaried
employees |
√ |
|
2. Permanent
employees |
√ |
Company Fleet |
No of vehicles: |
Owned/ Leased |
|
Fleet Operations |
|
|
|
The Fleet is made up of |
|
|
|
1. Cars |
|
|
|
2. Light
Delivery Vehicles |
2 |
Owned by ARTMAR
NATURAL STONE TILES CC |
One of the light delivery vehicles has a vehicle financing facility with
Wesbank.
|
Offices |
|
Head Office Owned/ Rented |
The Johannesburg premises are leased from Northlands Business Park. |
|
Lease Agreement |
3 year lease agreement |
|
Lease Expire Date |
2014 |
|
Type of Premises |
The premises comprise of administration offices and a warehousing
facility. |
Branches |
Address |
Telephone Number |
|
Cape Town |
51 Benetton
Street Racing Park KILLARNYE
GARDENS Cape Town Western Cape |
021 556
0202 |
Branches Owned/ Rented |
The Cape Town premises are leased from US Global. |
|
Type of Premises |
The premises comprise of administration offices and warehousing
facilities |
Management
Overview
Organisation chart
U CANER and S CANER
Members
NINA BORONETTI ATINC
SENEGAL
Cape Town Manager Johannesburg
Manager
Trade References
The subject imports most of its products from Turkey and India
|
Trade Reference nr |
Supplier |
Contact |
|
1 |
JAS FORWARDING |
011 387
9600 |
Trade References
Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
2008 |
Open |
R500 000 |
30 |
R500 000 |
30 |
Good |
Adverse Information on Subject
Judgements
|
Judgements |
1 |
|
Possible
Judgements |
None |
|
Civil Court |
|
|
RDs |
None |
Judgements
|
Case Number |
31272/2010 |
|
Amount |
R50,000.00 |
|
Reason |
Agreement |
|
Court Name |
Randburg M |
|
Judgement Type |
Judgement By Default |
|
Judgement Date |
2011-02-11 |
|
Plaintiff
(Multiple) |
Nndwakhulu Cedric Incorporated |
|
|
|
Business Rescue
|
Date registered |
Business rescue practitioner |
Contact Information |
Details |
|
None on record |
|
|
|
Default Listings
|
Date |
Details |
|
None on record |
|
Notarial Bonds
|
Date |
Details |
|
None on record |
|
Bank Information
Cape Town Branch
|
Bank |
ABSA BANK |
|
Branch |
Montegue Gardens |
|
Bank
Account Number |
4066411883 |
|
Type
of Account |
Cheque |
|
Account
Name |
ARTMAR NATURAL STONE TILES CC |
|
Bank
Code |
C |
|
Bank
Comment |
The subject’s bankers consider them good for all business normal engagements |
Johannesburg
Branch
|
Bank |
ABSA BANK |
|
Branch |
Northgate |
|
Bank Account Number |
4072848666 |
|
Type of Account |
632005 |
|
Account Name |
ARTMAR NATURAL STONE TILES CC |
|
Overdraft Facilities |
It was stated that the subject does not require overdraft facilities
as credit balances are normally maintained at the bank. |
Bank Codes History
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
Years with bank |
|
None on record |
|
|
|
|
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|
Previous Bank
Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
None on record |
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|
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|
Deeds Information
Property Interests for Company
|
Title Deed No. |
None on record |
Erf/Site No. |
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|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Financial Information
Financial
Estimates
The respondent was reluctant to assist with full financial information. Nevertheless, the following information was obtained.
|
CURRENT ASSETS |
|
|
Stock |
R12 000 000 |
|
Debtors |
|
|
FIXED ASSETS |
|
|
Plant, Equipment, Vehicles |
|
|
Property |
|
|
CURRENT LIABILITIES |
|
|
Creditors |
|
|
Members Loans |
Nil |
|
LONG TERM LIABILITIES |
|
|
Morgage Bonds |
Nil |
|
Previous Year Turnover |
|
|
Estimated Current Year Turnover |
|
|
Current Turnover per month |
|
|
Current Turnover per annum |
|
Please note the
following:
|
Turnover and assets less than R 1,000,000.00 |
The subject falls within the National Credit Act |
|
Turnover and assets less than R 2,000,000.00 |
The subject falls within the Consumer Protection Act |
Principals
|
Number of Principals |
2 |
|
Average Age of Active Principals |
44 |
Active Principals
Principal 1 of 2:
|
Surname |
CANER |
|
First Name |
SURREYA |
|
Other Names |
|
|
Marital Status |
Married |
|
ID Number |
6810206157188 |
|
Verified ID Number |
No |
|
Current Age |
43 |
|
Designation |
Director |
|
Status |
|
|
Appointment Date |
2008-11-10 |
|
Physical Address (at time of Appointment) |
4 Acacia Road Cedar Lakes Cedar Avenue Broad Acres FOURWAYS 2191 |
|
Postal Address |
4 Acacia Road Cedar Lakes Cedar Avenue Broad Acres FOURWAYS 2191 |
|
Current Tel Number |
021 5571576 |
|
Cell number |
084 9988770 |
|
Current Fax Number |
|
|
Current Email Address |
|
|
Shareholding |
(if the principal owns shares) |
Adverse Information for S CANER
Judgement
|
Number of
Judgements |
None |
Debt
Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information for S CANER
Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
ARTMAR NATURAL STONE JHB CC |
2009/107806/23 |
Deregistration Final |
2 Years 6 Months |
0 |
No |
Previous
Business Interests
|
Average Age of
Previous Business Interests |
4 |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
ALATURCA NATURAL STONE WHOLESALERS CC |
2005/096399/23 |
In Business |
6 Years 5 Months |
0 |
No |
|
ALATURCA NATURAL STONE FRANCHISOR CC |
2007/214679/23 |
Deregistration Final |
4 years 5 Months |
0 |
No |
|
ARTMAR NATURAL STONE DURBAN CC |
B2009/107811/23 |
Deregistration Final |
2 Years 6 Months |
0 |
No |
Deeds Information
Property
Interestsfor S CANER
|
Title Deed No. |
T75048/2007 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
Cedar Lakes City
Of JOHANNNESBURG |
|
Property Type |
Free / Ervin |
Extent / Size |
1002.0SQM |
|
Purchase Date |
|
Purchase price |
R3,250,000.00 |
|
% Ownership |
2007-02-19 |
Bond Holder |
ABSA BANK LTD |
|
Bond Number |
B932992007 |
Bond Amount |
R3,250,000.00 |
Criminal Check for
S CANER
Criminal Information (This is on request)
|
Case Number |
None |
Principal 2 of 2:
|
Surname |
CANER |
|
First Name |
UFUK |
|
Other Names |
|
|
Marital Status |
Married |
|
ID Number |
6509205327186 |
|
Verified ID Number |
Yes |
|
Current Age |
46 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2006-09-19 |
|
Physical Address (at time of Appointment) |
43 Sterling Way Atlantic Beach Golf Estate MELKBOSSSTRAND 7441 |
|
Postal Address |
43 Sterling Way Atlantic Beach Golf Estate MELKBOSSSTRAND 7441 |
|
Current Tel Number |
021 5535060 |
|
Cell number |
082 4942810 |
|
Current Fax Number |
|
|
Current Email Address |
|
|
Shareholding |
(if the principal owns shares) |
Adverse
Information for U CANER
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information for U CANER
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
US GLOBAL TRADE CC |
2002/054517/23 |
In Business |
9 Years 5 Months |
0 |
No |
|
ARTMAR NATURAL STONE JHB CC |
2009/107806/23 |
Deregistration Final |
2 Years 6 Months |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
6 |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
PRO-U-STAR 94 CC |
2002/020608/23 |
Deregistration Final |
9 years 9 Months |
0 |
No |
|
ALATURCA NATURAL STONE WHOLESALER CC |
2005/096399/23 |
In Business |
6 Years 5 Months |
0 |
No |
|
ARTMAR NATURAL STONE DURBAN CC |
B2009/107811/23 |
Deregistration Final |
2 Years 6 Months |
0 |
No |
Deeds Information
Property Interestsfor U CANER
|
Title Deed No. |
None on record |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Criminal Check for
U CANER
Criminal Information (This is on request)
|
Case Number |
None |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.81 |
|
UK Pound |
1 |
Rs.82.00 |
|
Euro |
1 |
Rs.68.81 |
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.