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MIRA INFORM REPORT
|
Report Date : |
06.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
FISH ON LINE(PTY) LTD |
|
|
|
|
Registered Office : |
7 Signal Crescent, Montague Gardens, Milnerton, Western Cape |
|
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|
|
Country : |
South Africa |
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|
|
|
Date of Incorporation : |
17.06.2005 |
|
|
|
|
Com. Reg. No.: |
2005/021351/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Importing, warehousing
and distribution of seafood. |
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 over terms
occasionally.
Financials were declined by the company.
An amount of USD1 000 000 is considered too high.
A bank code revealed that the subject is considered as equal to
R100 000 over 30 days
It is therefore suggested dealings be well spread and secured, as the account may require monitoring.
Company Information
|
Registered
Name |
FISH ON LINE(PTY) LTD |
|
Trading
as/ Division Name |
None |
|
Previous Name |
None |
|
Date of Name
Change |
None |
|
Registration
Number |
2005/021351/07 |
|
Registration
Date |
2005-06-17 |
|
Date Commenced
Trading |
Originally in 1999 |
|
History of
Business |
The subject was formerly a CC trading since 1999. It converted to a
company in 2005. |
|
History of
Principals |
Ernie Malan: Founding member
and Managing Director of Fish On Line (Pty) Ltd. Born in Namibia and
matriculated in Walvis Bay. Studied at Cape Peninsula University of
Technology and an Internal Auditor by profession. Roelof Brink: Roelof
joined Irvin & Johnson in 1987 and started his career in Warehousing and
Distribution. In 1991 he joined the Sales division as Sales Representative
specialising in the Wholesale and Catering market segments. Together with Ernie Malan he
co-founded Fish on Line 1999 Dean Stacey: Dean started his career
as Production Manager at County Fair Chickens after studying at University of
Stellenbosch. He joined Columbit Foods in 1994 as National Distribution
Manager and later promoted to National Planning and Distribution Manager. In
2008 Dean joined Fish on Line as director and shareholder. The antecedents of
K Post were not known. |
|
Shareholders/Members/Partners
of subject and % holding |
25% to each of the 4 directors |
|
Authorised Share
Capital |
R100 divides into R1 shares |
|
Issued Share
Capital/Members Contribution |
R100 |
|
Age of Company |
6 years |
|
Status |
In Business |
|
Operations
Assessment |
Importing,
warehousing and distribution of seafood. |
|
Industry/
Customers |
Retailers and wholesalers. |
|
Major Industry
Code / SICC |
61221 Wholesale and retail |
|
Definition of
Code |
Wholesale trade in foodstuffs |
|
Head Office
Physical Address |
7 Signal Crescent Montague Gardens MILNERTON Western Cape |
|
Head Office
Postal Address |
P O Box 51908 WATERFRONT 8002 |
|
Current Tel Number
Cell number |
021 5510452 |
|
Current Fax
Number |
021 5514316 |
|
Current Email
Address |
|
|
Web Site Address |
www.fishonline.co.za |
The address given by our client of 5th Floor, Hill House, De Smidt
Street, Greenpoint.
Tel: 0214212015, fax:021 4251825 is reported to have been details for an
old address of the subject.
Auditors Information
|
Name |
I C MACKAY AND ASSOCIATES |
|
Trading Name |
None |
|
Registration
Number |
None/ Sole proprietor |
|
Physical Address |
Mazarin House Block O Greenford Office Park Punters Way KENNILWORTH |
|
Postal Address |
P O Box 31396 TOKAI 7966 |
|
Contact Person |
JULIE |
|
Contact Number |
021 6747159 |
|
Email |
|
|
Principals |
IAN C MACKAY |
|
Subject Verified
as Client |
Yes |
|
SAICA number |
00189282 |
|
VAT Number |
4280174436 |
|
Practice Number |
960896 |
|
Years With Auditors |
Since 2009 |
|
Website |
None |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
None |
|
Tax Information
|
Vat Number |
4520222680 |
|
Status |
Active |
|
Vat Liable Date |
Monthly |
|
Tax Number |
9341712157 |
|
Tax Clearance
Expire Date |
February 2012 |
|
Financial Year
End |
February |
Black Economic
Empowerment
|
Status |
No |
|
Score |
|
|
Expire Date |
|
|
BEE Certificate
Available |
|
ISO Status
|
Type of ISO
Grade |
No |
|
ISO Certificate |
|
|
ISO Certificate
Available |
|
|
Certified by an
Accredited Agent |
|
Workman’s
compensation
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
Company Structure
|
Branches |
0 |
|
Branches Names |
Country |
Province |
|
0 |
|
|
|
Subsidiary Company |
None |
|
Shareholding |
|
|
Registration
Number |
|
|
Import / Export |
|
|
Number of
Employees |
14 |
|
1.
Salaried
employees |
14 |
|
2.
Waged
employees |
|
|
3.
Permanent
employees |
|
|
4.
Casual
employees |
|
|
5.
Contracted
employees |
|
Company Fleet |
None |
|
Fleet Operations |
|
|
The Fleet is
made up of |
|
|
1.
Cars |
|
|
2.
Light
Delivery Vehicles |
|
|
3.
Trailers |
|
|
4.
Busses |
|
|
5.
Trucks |
|
|
6.
Fork
Lifts |
|
|
7.
Other |
|
Head Office
Owned/ Rented |
Rented |
|
Rental Company |
Zoto’s Property Group |
|
Lease Agreement |
5 years |
|
Lease Expire
Date |
2015 |
|
Type of Premises |
Office and warehouse, cold storage premises |
Trade References
|
Supplier |
Contact |
|
IMPSONS
LOGISTICS |
031 3747000/
Pops |
|
FERCON FREIGHT |
0861 337266/
Steven |
|
PESCALUNA |
021 5103111/
Nurjhan |
|
BLUE ATLANTIC |
021 6901400/
Anthea |
|
BAYLINE SEAFOODS |
021 5101804/
Steven |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
2008 |
None |
R100 000+ |
30 days |
R100 000 |
45-60 days |
Fair |
|
Few years |
R200 000 |
R200 000 |
30days |
R100 000- R200 000 |
30 |
Good |
|
3 years |
R500 000 |
R500 000 |
30 days |
R500 000 |
30 days |
Good |
Adverse
Information on Subject
|
Judgments |
None on record |
|
Possible
Judgments |
None |
|
Civil Court |
None |
|
RDs |
None |
Default Data
|
Date |
Details |
|
None |
|
Notarial Bonds
|
Date |
Details |
|
None |
|
Deeds Information
|
Property Interest |
|||
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Property Type: |
None |
Stand Number: |
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Street Number: |
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Street Name: |
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Municipal Suburb: |
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Municipal City: |
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Township Name: |
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Province: |
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Deeds Office: |
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Transfer ID: |
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Title Deed Number: |
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Purchase Date: |
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Transfer Date: |
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Erf Size: |
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Sold Price: |
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Bank Information
|
Bank |
First National Bank |
|
Branch |
Corporate Durban |
|
Bank Account
Number |
62088300232 |
|
Type of account |
cheque |
|
Branch Code |
Unknown |
|
Account Name |
FISH ON LINE (PTY) LTD |
|
Date Opened |
05-08-2005 |
|
Bank Code |
C |
|
Bank Comment |
The subjects bankers consider them equal to R100 000 over 30 days
in the normal way of business. |
Previous Bank
Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
None |
|
|
|
|
|
Financial Information
Financial
Estimates
|
CURRENT ASSETS |
Declined by the company |
|
Stock |
|
|
Debtors |
|
|
Cash on Hand |
|
|
FIXED ASSETS |
|
|
Plant,
Equipment, Vehicles |
|
|
Property |
|
|
CURRENT
LIABILITIES |
|
|
Creditors |
|
|
Loans/ From? |
|
|
LONG TERM
LIABILITIES |
|
|
Morgage Bonds |
|
|
ANNUAL
/ MONTHLY Turnover |
|
|
Previous Year
Turnover |
|
|
Estimated Current
Year Turnover |
|
Principals
|
Number of
Principals |
3 |
|
Average Age of
Active Principals |
44 |
Active Principals
Principal 1 of 4
|
Surname |
ROELOF |
|
First Names |
BRINK |
|
Marital Status |
Married |
|
ID Number |
6704165087082 |
|
Verified ID
Number |
Yes |
|
Current Age |
44 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2005-10-24 |
|
Address (at time
of Appointment) |
4 Chipstead Way PINELANDS Cape Town |
Adverse Information on Principal
Judgment
|
Number of
Judgments |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information on
Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgments |
Liquidation |
|
LITTLE ITALY PIZZA AND PASTA CC |
1993/020925/23 |
In
Business |
0 |
No
|
|
CREEL TRADING CC |
1999/044196/23 |
In
Business |
0 |
No |
|
PETTEN TRADING CC |
1999/049894/23 |
In
Business |
0 |
No |
|
SA SARDINE EXPORTERS CC |
2001/081651/23 |
Deregistration
Process |
0 |
No |
|
DREAM WORLD INVESTMENTS 379 (PTY)
LTD |
2005/016153/07 |
In
Business |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
9 years |
|
Company Name |
Registration No |
Status |
Judgments |
Liquidation |
|
BAZOO
PROMOTIONS CC |
2002/001080/23 |
Deregistration
Final |
0 |
No |
|
CHAPMAN’S
PEAK FISH PROCESSORS (PTY) LTD |
2002/008448/07 |
Deregistration
Final |
0 |
No |
Deeds Information
Property Interests of
Principle
|
Property Interest |
|||
|
Title Deed No. |
None |
Erg/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 |
MALAN |
|
First Names |
JACOBUS |
|
Marital Status |
Unmarried |
|
ID Number |
6604305045083 |
|
Verified ID
Number |
Yes |
|
Current Age |
45 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2005-10-24 |
|
Address (at time
of Appointment) |
45 Skaamrosie Street PROTEA VALLEY Bellville |
Adverse
Information on Principal
Judgement
|
Number of
Judgments |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information on Principal
Current Business
Interests
|
Company Name |
Registration No |
Status |
Judgments |
Liquidation |
|
H G WIEMEYER AND PARTNERS (PTY) LTD |
1989/006154/07 |
Deregistration
Process |
0 |
No |
|
CREEL TRADING CC |
1999/044196/23 |
In
Business |
0 |
No |
|
PETTEN TRADING CC |
1999/049894/23 |
In
Business |
0 |
No |
|
SA SARDINE EXPORTERS CC |
2001/081651/23 |
Deregistration
Process |
0 |
No |
|
DREAM WORLD INVESTMENTS 379 (PTY) LTD |
2005/016153/07 |
In
Business |
0 |
No |
|
KE BATLA TRADING 6 CC |
2005/130948/23 |
In
Business |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
10 years |
|
Company Name |
Registration No |
Status |
Judgments |
Liquidation |
|
PRIMORDIUM
SEAFOODS CC |
1998/031646/23 |
Conversion
|
0 |
No |
|
BAZOO
PROMOTIONS CC |
2002/001080/23 |
Deregistration
Final |
0 |
No |
|
CHAPMAN’S
PEAK FISH PROCESSORS (PTY) LTD |
2002/008448/07 |
Deregistration
Final |
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 3 of 4
|
Surname |
POST |
|
First Names |
KLAAS |
|
Marital Status |
Married |
|
ID Number |
BA 0065123 |
|
Verified ID
Number |
No |
|
Current Age |
Unknown |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2005-10-24 |
|
Address (at time of
Appointment) |
Klifweg 8 URK Holland |
Adverse
Information on Principal
Judgment
|
Number of
Judgments |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information
on Principal
Current Business
Interests
|
Company Name |
Registration No |
Status |
Judgments |
Liquidation |
|
None |
|
|
|
|
Previous Business
Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgments |
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 |
|
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.