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MIRA INFORM REPORT
|
Report Date : |
06.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
CARATCO (PTY) LTD |
|
|
|
|
Formerly Known As : |
Ckaratco (Pty) Ltd |
|
|
|
|
Registered Office : |
1st Floor Block C, The Pivot1 Montecasio Boulevard,
Fourways, Gauteng |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
24.07.2003 |
|
|
|
|
Com. Reg. No.: |
2003/017551/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Wholesale and retail of
diamonds and jewellery |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment
Behaviour : |
Usually Correct |
|
|
|
|
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
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 an
established company meeting commitments with suppliers timeously.
The company has made
purchases up to R1 000 000.
We have no record of
judgements on the subject or the principals.
The turnover is
substantial.
The subject would be
considered equal to normal business engagements.
We still await a
bank code which we will send when received.
Company Information
|
Registered
Name |
CARATCO (PTY) LTD |
|
Trading
as/ Division Name |
PANDA DIAMONDS |
|
Previous Name |
Ckaratco (Pty) Ltd |
|
Date of Name
Change |
2009-11-09 |
|
Registration
Number |
2003/017551/07 |
|
Registration
Date |
2003-07-24 |
|
Date Commenced
Trading |
2003-07-24 |
|
History of
Business |
The business started as a CC and was originally trading since 1988. |
|
History of
Principals |
None given |
|
Shareholders of
subject and % holding |
50% T WATSON 50% ROSY BLUE DIAMONDS JOHANNESBURG (PTY)
LTD |
|
Authorised Share
Capital |
R105 divided into R1 shares |
|
Issued Share
Capital |
R105 |
|
Age of Company |
7 years 11 months |
|
Status |
In Business |
|
Operations
Assessment |
Wholesale and retail of diamonds and
jewellery. |
|
Industry/
Customers |
Public and jewellery stores etc: |
|
Major Industry
Code / SICC |
61393 Wholesale Retail |
|
Definition of
Code |
Wholesale trade in precious stones ,
jewellery and silverware. |
|
Head Office
Physical Address |
1st Floor Block C The Pivot 1 Montecasio Boulevard FOURWAYS Gauteng |
|
Head Office
Postal Address |
P O Box 71511 BRYANSTON 2021 |
|
Current Tel
Number Cell number |
011 0119111 |
|
Current Fax
Number |
011 0119190 |
|
Current Email
Address |
wes@pandadiamonds.co.za |
|
Web Site Address |
www.caratco.co.za |
Auditors Information
|
Company
Registered Name |
HARRIS DOWDEN AND FONTEINE |
|
Trading Name |
None |
|
Registration
Number |
None, it is a partnership, originated in the 1940’s. Since 1993 in its
current form. |
|
Physical Address |
7 Pam Road MORNINGSIDE Sandton |
|
Postal Address |
P O Box 651129 BENMORE 2010 |
|
Contact Person |
BRIAN DOWDEN |
|
Contact Number |
0118847373 |
|
Email |
brian.dowden@hdfcasa.co.za |
|
Principals |
BRIAN DOWDEN RICHARD HARRIS CHARLES FONTEIN |
|
Subject Verified
as Client |
Yes |
|
SAICA number |
943703 |
|
VAT Number |
4460135777 |
|
BEE Status |
No |
|
Financial Year
End |
February |
|
Years With
Auditors |
Since 1988 |
|
Website |
None |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
None |
|
Tax Information
|
Vat Number |
4100105362 |
|
Status |
Active |
|
Vat Liable Date |
Monthly by 25th |
|
Tax Number |
9457029842 |
|
Tax Clearance
Expire Date |
Tax return every May |
|
Financial Year
End |
December |
Black Economic
Empowerment
|
Status |
None |
|
Score |
|
|
Expire Date |
|
|
BEE Certificate
Available |
|
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 |
3 |
|
Branches Names |
Country |
Province |
|
2 in Cape Town |
SA |
Western Cape |
|
1 Fourways |
SA |
Gauteng |
|
Subsidiary
Company |
DIAMOND SA SEYCHELLS LTD |
|
Shareholding |
100% |
|
Registration
Number |
843958-1 |
|
Import / Export |
Jewellery Retail |
|
Subsidiary
Company |
TROPICAL COLLECTION (PTY) LTD |
|
Shareholding |
100% |
|
Registration
Number |
2006/011015/07 |
|
Import / Export |
Jewellery retail |
|
Subsidiary Company |
FLAWLESS SEYCHELLS LTD |
|
Shareholding |
100% |
|
Registration
Number |
844670-1 |
|
Import / Export |
Jewellery Retail |
|
Number of
Employees |
95 |
|
1.
Salaried
employees |
95 |
|
2.
Waged
employees |
|
|
3.
Permanent
employees |
|
|
4.
Casual
employees |
|
|
5.
Contracted
employees |
|
Company Fleet |
4 |
|
Fleet Operations |
|
|
The Fleet is
made up of |
|
|
1.
Cars |
4 |
|
2.
Light
Delivery Vehicles |
|
|
3.
Trailers |
|
|
4.
Busses |
|
|
5.
Trucks |
|
|
6.
Fork
Lifts |
|
|
7.
Other |
|
Head Office
Owned/ Rented |
Rented |
|
Rental Company |
ABREAL (PTY) LTD |
|
Lease Agreement |
7 years |
|
Lease Expire
Date |
2017 |
|
Type of Premises |
Office |
Branches Owned/
Rented |
Cape Town Rented |
Cape Town Rented |
Fourways Rented |
|
Rental Company |
CBS PROPERTY GROUP |
OROPROPS (PTY) LTD |
ABREAL 9PTY) LTD |
|
Lease Agreement |
3 years |
5 years |
7 years |
|
Lease Expire
Date |
2013 |
2015 |
2017 |
|
Type of Premises |
Retail |
Retail |
Retail |
Trade References
|
Supplier |
Contact |
|
EGL |
011 3344527 |
|
BRINKS |
011 3922006 |
|
KUROPATWA
BROTHERS |
021 4225077 |
|
MEGAFREIGHT |
011 9711000 |
|
DEVELOPMENT FOR
AFRICA |
012 6633833 |
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
2007 |
None |
R1 Million |
30 days |
Up to R1 Million |
30 days |
Good |
|
6-7 years |
None |
R7000 |
30 days |
R5000 |
30 days |
Excellent |
|
Do |
Not |
Give |
Trade |
References |
|
|
|
Old |
None |
R500 000 |
30 days |
R200 000- R500 000 |
30 days |
Very good |
Adverse Information
on Subject
|
Judgements |
None |
|
Possible
Judgements |
None |
|
Civil Court |
None |
|
RDs |
None |
Default Data
|
Date |
Details |
|
None |
|
Notarial Bonds
|
Date |
Details |
|
None |
|
Deeds Information
|
Property Interest |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property Type: |
None |
Stand Number: |
|
|
Street Number: |
|
Street Name: |
|
|
Municipal Suburb: |
|
Municipal City: |
|
|
Township Name: |
|
Province: |
|
|
Deeds Office: |
|
Transfer ID: |
|
|
Title Deed Number: |
|
Purchase Date: |
|
|
Transfer Date: |
|
Erf Size: |
|
|
Sold Price: |
|
|
|
Bank Information
|
Bank |
NEDBANK |
|
Branch |
Diamond Exchange |
|
Bank Account
Number |
1932269835 |
|
Type of account |
Cheque |
|
Branch Code |
Unknown |
|
Account Name |
CARATCO (PTY) LTD |
|
Date Opened |
|
|
Bank Code |
Awaiting a bank code |
|
Bank Comment |
|
Bank Codes History
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
|
None |
|
|
|
|
|
|
Previous Bank
Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
None |
|
|
|
|
|
Financial Information
Financial
Estimates
|
CURRENT ASSETS |
|
|
Stock |
R90 000 000 |
|
Debtors |
Wholesale R3 000 000/ Retail COD |
|
Cash on Hand |
R3 000 000 |
|
FIXED ASSETS |
|
|
Plant,
Equipment, Vehicles |
R8 600 000 |
|
Property |
None |
|
CURRENT
LIABILITIES |
None |
|
Creditors |
R2 500 000 |
|
Loans/ From? |
R7 000 000 from MR T
WATSON |
|
LONG TERM
LIABILITIES |
Nil |
|
Morgage Bonds |
No |
|
ANNUAL
/ MONTHLY Turnover |
R280 000 000 |
|
Previous Year
Turnover |
R275 000 000 |
|
Estimated
Current Year Turnover |
R290 000 000 |
Principals
|
Number of
Principals |
4 |
|
Average Age of
Active Principals |
45 |
Active Principals
Principal 1 of 4
|
Surname |
MEHTA |
|
First Names |
VISHAL |
|
Marital Status |
Married |
|
Birth Date |
800402 |
|
Verified ID
Number |
No |
|
Current Age |
31 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2007-08-23 |
|
Address (at time
of Appointment) |
50 Kasteellei 2930 BRASSCHAAT Belgium |
Adverse Information on
Principal
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information on
Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
Previous Business
Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
Deeds Information
Property Interests of
Principle
|
Property Interest |
|||
|
Title Deed No. |
None |
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 4
|
Surname |
DAS |
|
First Names |
SOMENS |
|
Marital Status |
Married |
|
Birth Date |
550627 |
|
Verified ID
Number |
No |
|
Current Age |
56 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2007-08-23 |
|
Address (at time of
Appointment) |
22 Dennis Road ATHOL Johannesburg |
Adverse Information on Principal
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information on Principal
Current Business
Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
Previous Business
Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
|
Title Deed No. |
None |
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 4
|
Surname |
MAKOVINI |
|
First Names |
WESLEY |
|
Marital Status |
Married |
|
ID Number |
6905115052080 |
|
Verified ID
Number |
Yes |
|
Current Age |
42 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2007-08-23 |
|
Address (at time
of Appointment) |
93 Kaserie Crescent MORELETTA PARK Pretoria |
Adverse Information on Principal
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information on Principal
Current Business
Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
AFRICAN
JEWELLERY AND DIAMONDS (PTY) LTD |
2001/022277/07 |
In Business |
0 |
No |
|
JADWIGA
JEWELLERY (PTY) LTD |
2005/011794/07 |
In Business |
0 |
No |
|
PANDA DIAMONDS
(PTY) LTD |
2006/009814/07 |
In Business |
0 |
No |
|
WES MAKOVINI |
6905115052080 |
|
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
JEWELLERY
EXPERIENCE (PTY) LTD |
2000/022022/07 |
In Business |
0 |
No |
Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
|
Title Deed No. |
None |
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 4
|
Surname |
WATSON |
|
First Names |
TIMOTHY |
|
Marital Status |
Married |
|
ID Number |
5712225245088 |
|
Verified ID
Number |
Yes |
|
Current Age |
54 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
Not Available |
|
Address (at time of Appointment) |
Barclay House 8 Highwick Avenue KENILWORTH Cape Town |
Adverse Information on Principal
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information on Principal
Current Business
Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
TANZANITE S A
(PTY) LTD |
1960/002580/07 |
Deregistration
Final |
0 |
No |
|
HARD ASSET
INVESTMENT BROKERS (PTY) LTD |
1986/002467/07 |
In Business |
0 |
No |
|
INTERCOLOUR GEMS
CC |
1991/029031/23 |
In Business |
0 |
No |
|
SUNSTAR DIAMOND
CUTTERS CC |
1992/030954/23 |
In Business |
0 |
No |
|
FIRST GOLD
TRADING CC |
1995/025742/23 |
Deregistration
Process |
0 |
No |
|
WATERSONG
INVESTMENTS (PTY) LTD |
1996/000559/07 |
In Business |
0 |
No |
|
1ST
AVENUE GOLD ACCEPTANCES (PTY) LTD |
1996/012338/07 |
Deregistration
Final |
0 |
No |
|
CORPCLO 326 CC |
1998/033883/23 |
Deregistration
Final |
0 |
No |
|
DUNROSE
INVESTMENTS 77 (PTY) LTD |
2000/029079/07 |
Deregistration
Process |
0 |
No |
|
AFRICAN
JEWELLERY AND DIAMONDS (PTY) LTD |
2001/022277/07 |
In Business |
0 |
No |
|
PANDA DIAMONDS
(PTY) LTD |
2006/009814/07 |
In Business |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
13 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
CARWAY
PANELBEATERS CC |
1991/029779/23 |
Deregistration
Process |
0 |
No |
|
AKOYA PEARLS CC |
1993/012313/23 |
Deregistration
Final |
0 |
No |
|
CONSTANTIA OAK
PROPERTIES CC |
1997/047414/23 |
Deregistration
Process |
0 |
No |
|
OUWINGERD
PROPERTIES CC |
1997/047451/23 |
Deregistration
Process |
0 |
No |
|
OLD VINEYARD
PROPERTIES CC |
1997/051176/23 |
Deregistration
Process |
0 |
No |
|
SECTION 14
HOLLYBANK ILLOVO CC |
1997/064565/23 |
Deregistration
Process |
0 |
No |
|
CULLINAN
DIAMONDS (PTY) LTD |
2000/023394/07 |
In Business |
0 |
No |
|
TROPICAL
COLLECTION (PTY) LTD |
2006/011015/07 |
In Business |
0 |
No |
Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
|
Title Deed No. |
None |
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.44.50 |
|
UK Pound |
1 |
Rs.71.25 |
|
Euro |
1 |
Rs.64.40 |
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.