MIRA INFORM REPORT

 

 

Report Date :

18.01.2011

 

IDENTIFICATION DETAILS

 

Name :

EDISON JEHAMO POWER (PTY) LTD

 

 

Formerly Known As :

JEHAMO ELECTRICAL CONTRACTORS (PTY) LTD

 

 

Registered Office :

11 Forman Street, Isando, Gauteng

 

 

Country :

South Africa

 

 

Date of Incorporation :

12.09.1995

 

 

Com. Reg. No.:

1995/009724/07

 

 

Legal Form :

Private Company

 

 

Line of Business :

Electrical service supplier, specialising in power transmission, distribution and cable reticulation

 

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 :

Moderate

 

 

Payment Behaviour :

Slow

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

South Africa

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

NotE:

(The information contained in this report, other than comment by outside authorities, has been voluntarily supplied by Officials of the subject):

 

 

COMPANY NAME

 

EDISON JEHAMO POWER (PTY) LTD

 

Formerly JEHAMO ELECTRICAL CONTRACTORS (PTY) LTD, the name having changed on 3 November 2005.

 

Formerly E-WHY TRADING NO 138 (PTY) LTD, the name having changed on 12 September 1995.

 

 

PHYSICAL ADDRESS    

 

11 Forman Street

Isando

Gauteng

 

 

POSTAL ADDRESS   

 

P O Box 893

Isando

1600

Telephone Number:                  011 578 1700

Fax Number:                             011 974 5586

 

The Share Capital for the subject has been confirmed and added to the following report.

 

 

SHAREHOLDERS

 

·         66.6% SIYANDISA TRADING TRUST

·         33.3% POWER NETWORK CONTRACTORS (PTY) LTD

 

 

ASSOCIATE COMPANIES

 

EDISON POWER ELECTRICAL (PTY) LTD

(Registration Certificate Number: 2000/025811/07

 

EDISON POWER GAUTENG (PTY) LTD

(Registration Certificate Number: 2005/019454/07)

 

BORN FREE INVESTMENTS 311 (PTY) LTD

(Registration Certificate Number: 2005/004483/07)

 

 

DIRECTORS

 

R A BROADHEAD                                 ID No: 6109235280180

S J FRANKE                                         ID No: 6305025141083

E K M LAZARUS                                   ID No: 4901295178052

V V REDDY                                          ID No: 5302225127054

A J SOOKOO                                        ID No: 7208085227082

S A WILKINSON                                    ID No: 5802135889180

 

 

BANKERS

 

FIRST NATIONAL BANK, Durban North branch. It was stated that the subject utilises a debtors financing facility.

 

 

DATE REGISTERED

 

12 September 1995

Registration Certificate Number: 1995/009724/07

 

 

VAT NUMBER

 

4070159696

 

 

MAJOR OPERATION

 

Electrical service supplier, specialising in power transmission, distribution and cable reticulation

 

 

MAJOR SUPPLIERS

 

·         IMAB ENGINEERING, Johannesburg

·         ARROW BULK MARK, Johannesburg

·         IMPERIAL TRUCKS, Johannesburg

·         BUDGET CAR AND VAN RENTAL, Johannesburg

 

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

 

ESKOM, mining industry, municipality and city power

 

 

AREA OF DISTRIBUTION AND SELLING   

 

South Africa

 

 

EXPORTS

 

None

 

 

TOTAL EMPLOYEES

 

1 000

 

 

OTHER PREMISES   

 

The subject is reported to work on site offices but does not have any other branches

 

 

OWNED OR LEASED

 

The premises are stated to be leased from the property company in the group

 

 

AUTHORISED SHARE CAPITAL

 

R4 000 divided into 4 000 ordinary shares of R1 each

 

 

ISSUED SHARE CAPITAL

 

R30

 

Full financial information was not forthcoming from respondents at the subject , however, it was stated that the subject works on a project basis throughout the year and the turnover as at 15 October 2010 was stated to be R436 000 000 for year ending June 2010.

 

 

AUDITORS    

 

HLB BARNETT CHAUN INCORPORATED, (Tel No: 011 856 5300)

 

 

YEAR END    

 

JUNE

 

 

INSURANCE BROKERS

 

FIRST NATIONAL BANK INSURANCE BROKERS, Cape Town

 

 

CURRENT TRADE REFERENCES

 

      ACCOUNT    HIGHEST       AVERAGE       TERMS     PAYMENT    EXPERIENCE

      OPENED      CREDIT         CREDIT                          PATTERN

 

1.    Old acc        R1 500 000    R1 000 000      30 days    60/90/120     Slow

                          c/l                 up to                               days

 

2.    2007             R250 000       R200 000-       30 days    30-60 days    Good

                                               R250 000

 

3.    12-13 years   R1 000 000    R500 000        30 days    30+ days      Good

 

 

COMMENTS

 

This is an established company meeting its commitments generally over terms.  In view of the lack of full financial information and the slow payment pattern we would prefer to see dealings with the subject on a letter of credit basis.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.59

UK Pound

1

Rs.72.31

Euro

1

Rs.60.73

 

 

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%)

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.