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MIRA
INFORM REPORT
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Report Date : |
21.12.2011 |
IDENTIFICATION DETAILS
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Name : |
FLAMINGO SALES AND EXPORT COMPANY (PTY) LTD |
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Registered Office : |
8th Floor, 135 Musgrave Road Durban Kwa-Zulu Natal 4001 |
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Country : |
South Africa |
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Date of Incorporation : |
19.05.1987 |
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Com. Reg. No.: |
M1987/002133/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Sales agency, promotional and corporate
gifts , representative of brands. |
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No. of Employees : |
4 |
RATING & COMMENTS
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MIRAs Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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 September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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South Africa |
A1 |
A1 |
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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
Total Credit Limit Exposure:
Total Suretyship:
This is a well-established company that imports most of its
supplies.
In view of the absence of financial information and a bank
code we are unable to speak to your figure.
Company Information
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Registered Name |
FLAMINGO SALES AND EXPORT COMPANY (PTY) LTD |
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Trading as/ Division Name |
None |
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Previous Name |
None |
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Date of Name Change |
N/A |
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Registration Number |
M1987/002133/07 |
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Registration Date |
1987-05-19 |
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Date Commenced Trading |
1987-05-19 |
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Age of Business |
24 Years 7 Months |
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History of Business |
None |
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Shareholders of subject and % holding |
100% D KERDACHI |
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Issued Share Capital/Members Contribution |
R100 |
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Status |
This Business is Active |
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Operations Assessment |
Sales agency, promotional and corporate
gifts , representative of brands. |
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Industry/ Customers |
Various customers |
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Export |
Neighbouring countries |
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Major Industry Code / SICC |
62601 Wholesale Retail |
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Definition of Code |
Other retail, not in stores |
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Head Office Physical Address |
8th Floor, 135 Musgrave Road Durban KWA-ZULU NATAL 4001 |
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Head Office Postal Address |
PO Box
50896 Musgrave Durban KWA-ZULU NATAL 4062 |
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Current Tel Number |
0861 201011/ 031 5395401 |
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Cell number |
082 5661067 |
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Current Fax Number |
0866 723827 |
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Current Email Address |
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Web Site Address |
Auditors Information
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Company Registered Name |
FINANCE SPEC |
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Trading Name |
FINANCE SPEC |
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Physical Address |
Cluster Box 2273 EVERTON 3625 |
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Contact Person |
GARETH |
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Contact Number |
031 7656553 |
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Subject Verified as Client |
Unable to confirm, closed for Christmas |
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SAICA number |
903114 |
Previous Auditors
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Company Name |
Phone Number |
Time with previous auditors |
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BOULEE SAAD AND
LEVIN |
|
20 Years |
Tax Information
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Vat Number |
4430220055 |
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Status |
Active |
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Vat Liable Date |
Every second month |
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Tax Number |
9096177200 |
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Tax Clearance Expire Date |
February and August |
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Financial Year End |
February |
Black Economic Empowerment
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Status |
Yes |
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Score |
Level 4 |
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Expire Date |
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BEE Certificate Available |
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ISO Status
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Type of ISO Grade |
Yes |
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ISO Certificate |
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ISO Certificate Available |
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Certified by an Accredited Agent |
Yes |
Workmans compensation/UIF
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Registered |
Yes |
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Compliance Certified |
Yes |
Company Structure
Subsidiaries
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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 |
4 |
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1. Salaried
employees |
4 |
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2. Waged
employees |
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3. Permanent
employees |
4 |
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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 |
None |
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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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Offices |
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Head Office Owned/ Rented |
Rented |
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Rental Company |
DAVE STRANG- ISLAND BUSINESS PARK (PTY) LTD |
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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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Branches Names |
Country |
Province |
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None |
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Branches Owned/ Rented |
None |
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Rental Company |
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Owned |
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Value |
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Bank |
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Bond |
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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
Key deals signed within the past 12 months.
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Company |
Value |
Contact |
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None |
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Trade Reference nr |
Supplier |
Contact |
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1 |
CROWN FOOTWEAR |
031 7001601 |
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2 |
GEODIS WILSON |
011 3961830 |
Trade
References Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
2009 |
R50 000 |
R8 000 |
30 days |
R8 000 |
30 days |
Good |
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2 |
2011 |
Declined |
Declined |
30 days |
Declined |
30 days |
Good so far |
Adverse Information on Subject
Judgements
|
Judgements |
None |
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Possible
Judgements |
None |
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Civil Court |
None |
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RDs |
None |
Business
Rescue
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Date registered |
Business rescue practitioner |
Contact Information |
Details |
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None |
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Default
Listings
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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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Bank Information
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Bank |
NEDBANK |
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Branch |
Musgrave |
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Bank Account Number |
Declined |
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Bank Code |
None obtained, no account number given |
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Bank Comment |
N/A |
Bank
Codes History
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RDs |
RD amount |
RD Date |
Bank Comments |
Years with bank |
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None |
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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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None |
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Deeds Information
Property Interestsfor Company
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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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Financial Information
Financial
Estimates
All
financial, confidential information was declined by the owner sand director of
the subject.
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CURRENT ASSETS |
Declined |
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Stock |
Declined |
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Debtors |
Declined |
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FIXED ASSETS |
Declined |
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Plant, Equipment, Vehicles |
Declined |
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Property |
Declined |
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CURRENT LIABILITIES |
Declined |
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Creditors |
Declined |
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Loans/ From? |
Declined |
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LONG TERM LIABILITIES |
Declined |
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Morgage Bonds |
Declined |
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Previous Year Turnover |
Declined |
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Estimated Current Year Turnover |
Declined |
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Current Turnover per month |
Declined |
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Current Turnover per annum |
Declined |
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 |
1 |
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Average Age of Active Principals |
34 |
Active Principals
Principal 1 of 1: DANIEL CLAUDE KERDACHI
|
Surname |
DC KERDACHI |
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First Name |
DANIEL |
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Other Names |
CLAUDE |
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ID Number |
7710255171081 |
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Verified ID Number |
No |
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Current Age |
34 |
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Designation |
Director |
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Status |
Active |
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Appointment Date |
2005-02-17 |
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Physical Address (at time of Appointment) |
6 Palm Villas 51 Gumtree Crescent MOUNT EDGECOMBE 4302 |
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Postal Address |
Cluster Box 2273 EVERTON 3625 |
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Current Tel Number |
031 5395401 |
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Cell number |
082 5661067 |
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Current Email Address |
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Shareholding |
100% |
Adverse
Information for: DANIEL CLAUDE KERDACHI
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information for: DANIEL CLAUDE KERDACHI
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
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NEVKER INVESTMENT CC |
1986/012907/23 |
In Business |
25 Years 5 Months |
0 |
No |
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BERGMASTER PRODUCTS (PTY) LTD |
1997/009307/07 |
In Business |
14 Years 6 Months |
0 |
No |
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SPORTSACTION (PTY) LTD |
2005/010842/07 |
Deregistration Final |
6 Years 8 Months |
0 |
No |
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TREND MANIA 1129 CC |
B2011/036959/23 |
In Business |
9 Months |
0 |
No |
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JAGAR FASHIONS (PTY) LTD |
M2010/009010/07 |
In Business |
1 Years 7 Months |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
None |
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Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
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BASFOUR 2000 (PTY) LTD |
1999/028455/07 |
Deregistration Final |
12 Years |
0 |
No |
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STYLE VENUE DISTRIBUTORS (PTY) LTD |
2006/030493/07 |
In Business |
5 Years 3 Months |
0 |
No |
Deeds Information
Property Interestsfor: DANIEL CLAUDE
KERDACHI
|
Title Deed No. |
ST31303/2011 |
Erf/Site No. |
361,0 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
51 GUMTREE MOUNT
EDGECOMBE COUNTRY ESTATE 2
MOUNT EDGECOMBE |
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Property Type |
Sectional Title/Unit |
Extent / Size |
207.0SQM |
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Purchase Date |
2011-03-10 |
Purchase price |
R 1 938 700.00 |
|
% Ownership |
0.0000 |
Bond Holder |
SOUTH AFRICAN
HOME LOANS |
|
Bond Number |
SB216712011 |
Bond Amount |
R 2 400 000.00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.03 |
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|
1 |
Rs.82.34 |
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Euro |
1 |
Rs.68.90 |
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 |
|
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 |
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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 |
-- |
This score serves as a reference to assess SCs 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.