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MIRA
INFORM REPORT
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Report Date : |
23.12.2011 |
IDENTIFICATION DETAILS
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Name : |
INDIA STEEL (PTY) LTD |
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Registered Office : |
No 1 Van Till Road Alrode 1451 |
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Country : |
South Africa |
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Date of Incorporation : |
26.02.2004 |
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Com. Reg. No.: |
2004/005163/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturing iron and steel industry |
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No. of Employees : |
30 |
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) |
|
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
|
Total
Credit Limit Exposure: Total
Suretyship: This
is an established company that exports steel. One
main trade reference was provided, but seems to be closed for Christmas as
there is no answer on the phone. |
In view of the absence of trade references,full financials as well as no
bank code, we are not in a position to recommend any
credit dealings.
Company Information
|
Registered Name |
INDIA STEEL (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 |
2004/005163/07 |
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Registration Date |
2004-02-26 |
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Date Commenced Trading |
2004-02-26 |
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Age of Business |
7 Years 10 Months |
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History of Business |
The subject commenced as a new business in 2004 |
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Shareholders of subject and % holding |
100% S AHUJA |
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Issued Share Capital/Members Contribution |
R1 000 |
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Status |
This Business is Active |
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Operations Assessment |
Exporting of steel |
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Industry/ Customers |
Manufacturing industry |
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Export |
Yes, Far East |
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Major Industry Code / SICC |
35101 Manufacturing |
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Definition of Code |
Basic iron and steel industry |
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Head Office Physical Address |
No 1 Van Till Road ALRODE 1451 |
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Head Office Postal Address |
PO Box 4177 RIVONIA 2128 |
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Current Tel Number |
011 9089440 |
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Current Fax Number |
011 9089441 |
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Current Email Address |
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Web Site Address |
None |
Auditors Information
|
Company Registered Name |
TICHAUER AND BLOCH REGISTERED AUDITORS |
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Trading Name |
None |
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Registration Number |
None, partnership |
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Physical Address |
21 7th Avenue PARKTOWN NORTH 2121 |
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Postal Address |
PO Box 464 PARKLANDS 2121 |
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Contact Person |
MARK |
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Contact Number |
083 4195817/ 011 4426623 |
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Principals |
2 |
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Subject Verified as Client |
Yes |
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SAICA number |
936677E |
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Years With Auditors |
2 years |
Previous Auditors
|
Company Name |
Phone Number |
Time with previous auditors |
|
GREYLING VAN DER
MERWE |
|
Unknown |
Tax Information
|
Vat Number |
4200212092 |
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Status |
Active |
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Vat Liable Date |
5004-05-01 |
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Tax Number |
9234635150 |
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Tax Clearance Expire Date |
February |
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Financial Year End |
February |
Black Economic Empowerment
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Status |
None |
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BEE Certificate Available |
Yes/No |
ISO Status
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Type of ISO Grade |
None |
Workmans compensation
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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 |
30 |
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1. Salaried
employees |
30 |
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1. Waged
employees |
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2. Permanent
employees |
30 |
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3. Casual
employees |
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4. 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 |
15 |
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1. Cars |
5 |
Owned |
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None |
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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 |
10 |
Owned |
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None |
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6. Fork
Lifts |
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7. Other |
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The total value of the owned vehicles is
reported to be R3 000 000.
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Offices |
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Head Office Owned/ Rented |
Owned |
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Rental Company |
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Owned by |
INDIA STEEL (PTY) LTD |
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Value |
R20 000 000 |
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Bond |
R4 500 000 |
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Bank |
Nedbank |
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Lease Agreement |
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Lease Expire Date |
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Type of Premises |
Office , yard and warehouse |
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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 |
Surety Value |
Notarial Bonds |
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1 |
RICHARDS SCRAP
METALS |
011 4121118 |
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Trade References
Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
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1 |
None Obtained |
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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
|
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
|
Date |
Details |
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None |
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Bank Information
|
Bank |
NEDBANK |
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Branch |
WESTRAND |
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Bank Account Number |
Declined |
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Bank Code |
None, no account number given |
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Bank Comment |
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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
|
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
|
Title Deed No. |
T34128/2010 |
Erf/Site No. |
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Deeds Office |
PRETORIA |
Physical Address |
MORNINGSIDE
SANDTON |
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Property Type |
Freehold/Ervin |
Extent / Size |
527.0SQM |
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Purchase Date |
2009-02-23 |
Purchase price |
R 2 935 500.00 |
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% Ownership |
0.0000 |
Bond Holder |
NEDBANK LTD |
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Bond Number |
B217462010 |
Bond Amount |
R 2 060 000.00 |
Property Interestsfor Company
|
Title Deed No. |
T34128/2010 |
Erf/Site No. |
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Deeds Office |
PRETORIA |
Physical Address |
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Property Type |
Farms |
Extent / Size |
4.9771H |
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Purchase Date |
2007-09-15 |
Purchase price |
R 7 000 000.00 |
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% Ownership |
0.0000 |
Bond Holder |
NEDBANK LTD |
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Bond Number |
B167172008 |
Bond Amount |
R 5 600 000.00 |
Property Interestsfor Company
|
Title Deed No. |
T17849/2008 |
Erf/Site No. |
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Deeds Office |
PRETORIA |
Physical Address |
ALRODE ALBERTON |
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Property Type |
Farms |
Extent / Size |
5770.0SQM |
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Purchase Date |
2007-09-15 |
Purchase price |
R 7 000 000.00 |
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% Ownership |
0.0000 |
Bond Holder |
TOTAL SOUTH
AFRICA PTY LTD |
|
Bond Number |
K1801997L |
Bond Amount |
0.00 |
Financial Information
Financial
Estimates
|
Current Turnover per month |
R200 000 |
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 |
|
Average Age of Active Principals |
61 |
Active Principals
Principal 1 of 1: SACHINI AHUJA
|
Surname |
AHUJA |
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First Name |
SACHINI |
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Other Names |
None |
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Marital Status |
Married |
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ID Number |
750209DOB0000 |
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Verified ID Number |
No |
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Current Age |
61 |
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Designation |
Director |
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Status |
Active |
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Appointment Date |
2004-04-01 |
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Physical Address (at time of Appointment) |
12 Tuscani Lots 43 Van Tonder Avenue EDENVALE 1610 |
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Postal Address |
12 Tuscani Lots 43 Van Tonder Avenue EDENVALE 1610 |
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Shareholding |
100% |
Adverse
Information for:SACHINI AHUJA
Judgement
|
Number
of Judgements |
None |
Debt Review
|
Debt
review |
None |
Other
|
Default
data |
None |
Business
Information for: SACHINI AHUJA
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
None |
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Previous Business Interests
|
Average Age of
Previous Business Interests |
None |
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Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
None |
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Deeds Information
Property Interestsfor: SACHINI AHUJA
|
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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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.78 |
|
|
1 |
Rs.82.73 |
|
Euro |
1 |
Rs.68.88 |
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 |
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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 |
|
<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.