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MIRA INFORM REPORT
|
Report Date : |
21.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
GAPA LOGISTICS (PTY) LTD |
|
|
|
|
Registered Office : |
947 Richards Drive, Midrand, Gauteng |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
29.08.2003 |
|
|
|
|
Com. Reg. No.: |
2003/021078/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Telecommunication and cellular industry such as VODACOM etc. |
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 : |
Unknown |
|
|
|
|
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, which converted from a close corporation.
The company is
meeting its commitments timeously and we have traced dealings up to an amount
of R3 000 000.
The absence of
financial data should be borne in mind when dealings with the subject are
contemplated and it is suggested dealings be secured.
A bank code revealed
that the subject is considered equal to their normal business engagements.
Company Information
|
Registered
Name |
GAPA LOGISTICS (PTY) LTD |
||
|
Registration
Number |
2003/021078/07 |
||
|
Registration
Date |
29 August 2003 |
||
|
Date Commenced
Trading |
1997 |
||
|
History of
Business |
The subject converted from a close corporation and changed its name
from BRORON TECHNOLOGIES CC – registration certificate number: 1997/028878/23 - in August 2003. |
||
|
History of
Principals |
|
||
|
Shareholders/Members/Partners
of subject and % holding |
100% THE GAPA TRUST in which
MRS. G A BROSNIHAN and P M BROSNIHAN are two of the trustees. |
||
|
Authorised Share
Capital |
R1 000 divided into a 1 000 ordinary R1 shares. |
||
|
Issued Share
Capital/Members Contribution |
R100 |
||
|
Age of Company |
7 years 11 months |
||
|
Status |
Active |
||
|
Operations Assessment |
The building,
supplying and transportation of telecommunication equipment, generators,
tower shelters and related equipment. |
||
|
Industry/
Customers |
Telecommunication and cellular industry
such as VODACOM etc. |
||
|
Area of
distribution |
Small in South Africa |
||
|
Export |
The subject exports to a group company
namely BROMAIN LTD in Tanzania. |
||
|
Major Industry
Code / SICC |
|
||
|
Definition of
Code |
Telecommunications |
||
|
Head Office
Physical Address |
947 Richards Drive MIDRAND Gauteng |
||
|
Head Office
Postal Address |
P O Box 2685 HALFWAY HOUSE 1685 |
||
|
Current Tel
Number Cell number |
011 315 8166 |
||
|
Current Fax
Number |
011 315 8167 |
||
|
Current Email
Address |
Auditors Information
|
Company
Registered Name |
D KALMIN & CO INC |
|
Registration
Number |
partnership |
|
Physical Address |
26 Bombas Road DUNKELD WEST Gauteng |
|
Postal Address |
P O Box 891527 LYNDHURST 2106 |
|
Contact Person |
David Kalmin |
|
Contact Number |
011 325 2480 |
|
Email |
david@dkalmin.co.za |
|
Principals |
2 |
|
Subject Verified
as Client |
Yes |
|
Practice number |
935654E |
|
VAT Number |
4520127848 |
|
BEE Status |
Yes |
|
Years With
Auditors |
7 years 11 months |
|
Website |
www.dkalmin.co.za |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
No information on record |
|
Tax Information
|
Vat Number |
4670209818 |
|
Status |
Active |
|
Vat Liable Date |
1 November 2003 |
|
Tax Number |
9144677151 |
|
Tax Clearance
Expire Date |
January 2012 |
|
Financial Year
End |
February |
Black Economic
Empowerment
|
Status |
Yes |
|
Score |
Level 3 |
|
Expire Date |
unknown |
|
BEE Certificate
Available |
Yes |
ISO Status
|
Type of ISO
Grade |
No |
|
ISO Certificate |
No |
|
ISO Certificate
Available |
No |
|
Certified by an
Accredited Agent |
No |
Workman’s
compensation
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
Company Structure
|
Branches |
None |
|
Subsidiary
Company |
None |
|
Shareholding |
|
|
Registration
Number |
|
|
Import / Export |
|
|
Number of
Employees |
100 total |
|
1.
Salaried
employees |
|
|
2.
Waged
employees |
|
|
3.
Permanent
employees |
100 |
|
4.
Casual
employees |
|
|
5.
Contracted
employees |
|
Company Fleet |
25 total |
|
Fleet Operations |
|
|
The Fleet is
made up of |
|
|
1.
Cars |
10 |
|
2.
Light
Delivery Vehicles |
2 |
|
3.
Trailers |
2 |
|
4.
Busses |
|
|
5.
Trucks |
10 |
|
6.
Fork
Lifts |
1 |
|
7.
Other |
|
Head Office
Owned/ Rented |
Owned |
|
Owned by |
STRAIGHTPROPS 41 (PTY) LTD |
|
Value |
R7 000 000 |
|
Bank |
Nedbank |
|
Bond |
Unknown |
|
Lease Agreement |
Ongoing agreement with the associate company, STRAIGHTPROPS 41 (PTY)
LTD. |
|
Lease Expire
Date |
The lease agreement is revised annually. |
|
Type of Premises |
The premises comprise of administration offices, manufacturing and
warehouse facilities. |
Branches Owned/
Rented |
None |
|
Rental Company |
|
|
Owned |
|
|
Value |
|
|
Bank |
|
|
Bond |
|
|
Lease Agreement |
|
|
Lease Expire
Date |
|
|
Type of Premises |
|
Trade References
|
Supplier |
Contact |
|
HAGAR MARKETING |
011 827
1386 |
|
PRESS DYNAMICS |
011 608
4429 |
|
AGRINET |
012 657
2000 |
|
FLOWCRETE |
031 461
3411 |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
6 years |
R3 200 000 |
Confidential |
30 |
Confidential |
30 EFT |
Very good |
|
8 years |
Confidential |
Confidential |
30 |
Confidential |
30 5% |
Very good |
|
June 2008 |
R500 000 |
R150 000 |
30 |
R150 000 |
30 |
Good |
Adverse
Information on Subject
|
Judgements |
No information on record |
|
Possible
Judgements |
|
|
Civil Court |
|
|
RDs |
|
Judgements
|
Case Number |
No information on record |
|
Amount |
|
|
Reason |
|
|
Court Name |
|
|
Judgement Type |
|
|
Judgement Date |
|
|
Plaintiff
(Multiple) |
|
Default Data
|
Date |
Details |
|
No information on record |
|
Notarial Bonds
|
Date |
Details |
|
No information on record |
|
Deeds Information
|
Property Interest |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property Type: |
No information on record |
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 |
Pennylane, Midrand |
|
Bank Account
Number |
1469133873 |
|
Type of account |
Current |
|
Branch Code |
146905 |
|
Account Name |
GAPA LOGISTCS (PTY) LTD |
|
Date Opened |
15 March 2004 |
|
Bank Code |
C |
|
Bank Comment |
The subject’s bankers consider them good for all business normal
engagements |
Bank Codes History
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
|
No information on record |
|
|
|
|
|
|
Previous Bank
Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
No information on record |
|
|
|
|
|
Financial Information
Financial
Estimates
|
CURRENT ASSETS |
The Financial Manager declined to assist with financial information,
whatsoever. |
|
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 |
60 |
Active Principals
Principal 1 of 3
|
Surname |
HOUGHTON |
|
First Names |
LANCE, W |
|
Marital Status |
Married |
|
ID Number |
5907145088085 |
|
Verified ID
Number |
Yes |
|
Current Age |
52 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
1 September 2007 |
|
Address (at time of
Appointment) |
4 St John Wood Batten Road MORNINGHILL Bedfordview 2007 |
Adverse
Information on Principal
Judgement
|
Number of
Judgements |
No information on record |
Debt Review
|
Debt review |
No information on record |
Other
|
Default data |
No information on record |
Business Information on
Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
BRORON
TECHNOLOGIES CC |
1997/028878/23 |
Conversion
CO/CC or CC/CO |
0 |
No |
|
PROPSPEC 1023
(PTY) LTD |
1999/008382/07 |
Deregistration
final |
0 |
No |
|
SNOWY OWL
PROPERTIES (PTY) LTD |
1999/016106/07 |
In
business |
0 |
No |
|
ILANGA
TECHNOLOGIES INTERNATIONAL (PTY) LTD |
1999/021718/07 |
In
business |
0 |
No
|
|
BRORON
TECHNOLOGIES AFRICA (PTY) LTD |
2000/029086/07 |
In business |
0 |
No |
|
STRAIGHTPROPS 22
(PTY) LTD |
2001/014943/07 |
In business |
0 |
No |
|
STRAIGHTPROPS 41
(PTY) LTD |
2001/020973/07 |
In business |
0 |
No |
|
OPTICOMMUNICATIONS
(PTY) LTD |
2004/003238/07 |
In business |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
No information on record |
|
|
|
|
Deeds Information
Property Interests of
Principle
|
Property Interest |
|||
|
Title Deed No. |
No information on record |
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 3
|
Surname |
BROSNIHAN |
|
First Names |
PAUL, MICHAEL |
|
Marital Status |
Married |
|
ID Number |
4709190062085 |
|
Verified ID
Number |
Yes |
|
Current Age |
64 |
|
Designation |
director |
|
Status |
Active |
|
Appointment Date |
1 September 2007 |
|
Address (at time of
Appointment) |
129 East Street HALFWAY GARDENS Midrand 1685 |
Adverse
Information on Principal
Judgement
|
Number of
Judgements |
No information on record |
Debt Review
|
Debt review |
No information on record |
Other
|
Default data |
No information on record |
Business
Information on Principal
Current Business
Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
BRORON
TECHNOLOGIES CC |
1997/02878/23 |
Conversion CO/CC
or CC/CO |
0 |
No |
|
LIS
4 PROPERTY OWNERS CC |
1998/058847/23 |
Deregistration
process |
0 |
No |
|
BRORON
TURN KEY (PTY) LTD |
1999/002382/07 |
In business |
0 |
No |
|
SNOWY
OWL PROPERTIES (PTY) LTD |
1999/016106/07 |
Deregistration
process |
0 |
No |
|
STRAIGHTPROPS
22 (PTY) LTD |
2001/014943/07 |
In business |
0 |
No |
|
SOUNDPROPS
1240 CC |
1993/00463523 |
Conversion CO/CC
or CC/CO |
0 |
No |
|
MIDRAND
BAXIS CC |
1997/043469/23 |
In business |
0 |
No |
|
129
EAST STREET HALFWAY GARDENS EXT 4 (PTY) LTD |
1999/008394/07 |
Deregistration
process |
0 |
No |
|
BRORON
TECHNOLOGIES AFRICA (PTY) LTD |
2000/029086/07 |
In business |
0 |
No |
|
STRAIGHTPROPS
41 (PTY) LTD |
2001/020973/07 |
In business |
0 |
No |
|
NO 43 OAKVILLAGE
KYALAMI ESTATE (PTY) LTD |
2003/001609/07 |
Deregistration
process |
0 |
No |
|
OPTICOMMUNICATIONS
(PYT) LTD |
204/003238/07 |
In business |
0 |
No |
|
ALTIVEX 710
(PTY) LTD |
2010/000649/07 |
In business |
0 |
No |
|
PROPSPEC 1023
(PTY) LTD |
1999/008382/07 |
Deregistration
process |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
13 years and 9 months |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
JUANITA KNOX DESIGNS CC |
1994/029090/23 |
In
business |
0 |
No
|
|
BIHATI PROJECTS CC |
1996/061573/23 |
Conversion
CO/CC or CC/CO |
0 |
No
|
|
UNIT 30 THE PALLISADES CC |
1997/005588/23 |
Deregistration
process |
0 |
No
|
|
NEWCOM TELECOMMUNICATIONS CC |
1997/050457/23 |
In
business |
0 |
No
|
|
ILANGA TECHNOLOGIES INTERNATIONAL (PTY) LTD |
1999/021718/07 |
In
business |
0 |
No
|
Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
|
Title Deed No. |
No information on record |
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 3
|
Surname |
GROSNIHAN |
|
First Names |
GAIL, ANNE |
|
Marital Status |
married |
|
ID Number |
4709190062085 |
|
Verified ID
Number |
Yes |
|
Current Age |
64 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
1 September 2007 |
|
Address (at time of
Appointment) |
818 Palm Close Kyalami Estate Ext 8 HALFWAY HOUSE 1685 |
Adverse
Information on Principal
Judgement
|
Number of Judgements |
No information on record |
Debt Review
|
Debt review |
No information on record |
Other
|
Default data |
No information on record |
Business
Information on Principal
Current Business
Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
ALTIVEX
710 (PTY) LTD |
2010/000649/07 |
Active |
0 |
No
|
|
OPTICOMMUNICATIONS
(PTY) LTD |
2004/003238/07 |
Active |
0 |
No
|
|
STRAIGHTPROPS
41 (PTY) LTD |
2001/020973/07 |
Active |
0 |
No
|
|
BRORON
TECHNOLOGIES CC |
1997/0287/23 |
Conversion
CO/CC or CC/CO |
0 |
No |
|
STRAIGHTPROPS
22 (PTY) LTD |
2001/014943/07 |
In
business |
0 |
No
|
|
SOUNDPROPS 1240 CC |
1993/004635/23 |
Conversion
CO/CC or CC/CO |
0 |
No |
|
MIDRAND BAXIS CC |
1997/043469/23 |
In
business |
0 |
No
|
|
LIS 4 PROPERTY OWNERS CC |
1998/058847/23 |
Deregistration
process |
0 |
No
|
|
BRORON TURN KEY (PTY) LTD |
1999/002382/07 |
In
business |
0 |
No |
|
129 EAST STREET HALFWAY GARDENS EXT 4 (PTY) LTD |
1999/008394/07 |
Deregistration
process |
0 |
No
|
|
PROPSPEC 1023 (PTY) LTD |
1999/008382/07 |
Deregistration
final |
0 |
No
|
|
SNOWY OWL PROPERTES (PTY) LTD |
1999/016106/07 |
Deregistration
process |
0 |
No
|
|
BRORON TECHNOLOGIES AFRICA (PTY) LTD |
2000/029086/07 |
In
business |
0 |
No |
|
NO 43 OAKVILLAGE KYALAI ESTATE (PTY) LTD |
2003/001609/07 |
Deregistration
process |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
13 years and 9 months |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
JUANITA
KNOX DESIGNS CC |
1994/029090/23 |
In
business |
0 |
No
|
|
BIHATI
PROJECTS CC |
1996/061573/23 |
Conversion
CO/CC or CC/CO |
0 |
No
|
|
UNIT
30 THE PALLISADES CC |
1997/005588/23 |
Deregistration
process |
0 |
No
|
|
NEWCOM
TELECOMMUNICATIONS CC |
1997/050457/23 |
In
business |
0 |
No
|
|
ILANGA
TECHNOLOGIES INTERNATIONAL (PTY) LTD |
1999/021718/07 |
In
business |
0 |
No
|
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
T100696/2005 |
Erf/Site No. |
|
|
Deeds Office |
Pretoria |
Physical Address |
Waterval Boven Emgwenya |
|
Property Type |
Freehold / Ervin |
Extent / Size |
788.0SQM |
|
Purchase Date |
2005-05-30 |
Purchase price |
R380 000 |
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
R0 |
|
Title Deed No. |
T73444/2008 |
Erf/Site No. |
|
|
Deeds Office |
Pretoria |
Physical Address |
|
|
Property Type |
Freehold / Ervin |
Extent / Size |
628.0SQM |
|
Purchase Date |
2007-02-14 |
Purchase price |
R490 000 |
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
R0 |
……………………………………………………………………………….
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.46 |
|
UK Pound |
1 |
Rs.71.67 |
|
Euro |
1 |
Rs.62.94 |
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.