MIRA INFORM REPORT

Report Date :

22.07.2011

IDENTIFICATION DETAILS

Name :	DICLA FARM AND SEED (PTY) LTD

Registered Office :	Plot 11, Van Wyksvlei, Next To R28, Muldersdrift, Krugersdorp 1747

Country :	South Africa

Date of Incorporation :	27.03.2009

Com. Reg. No.:	2009/006254/07

Legal Form :	Private Company

Line of Business :	Wholesale trade in agricultural raw materials and livestock

RATING & COMMENTS

MIRA’s Rating :

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 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

South Africa

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Assessment

This is a well established family business, which was originally established as a sole proprietorship.

In view of the lack of a payment pattern, we are not in a position to speak to the subject’s max figure.

It is suggested that our client assist us with a maximum figure in order to suggest credit dealings to the highest amount.

As soon as further information regarding the payment pattern and balance sheet information is obtained, same will be forwarded.

Bookkeeper Information

Company Registered Name	VAN DE BEEK EN BOER REKENDUNDIGE DIENSTE CC
Trading Name	VAN DE BEEK EN BOER
Registration Number	2002/002341/23
Physical Address	B3 White Thorn Office Park 606 Kudu Street ALENS NECK Roodepoort
Postal Address	P O Box 1210 RANDBURG 2125
Contact Person	Cor Boer
Contact Number	011 475 7211 083 458 6135
Email	cor@beekboer@co.za
Principals	2
Judgements Against Subject	None
Judgements Against Principals	None
Subject Verified as Client	Yes
Practice number	2756
VAT Number	4890237177
Financial Year End	February
Years with Bookkeeper	1990

Auditors Information

Company Registered Name	VAN DYK & ASSOCIATES
Postal Address	P O Box 50331 RANDBURG 2125
Contact Person	Nic van Dyk
Contact Number Cellular Number	011 888 6024 082 782 7172
Email	vdr@lantic.net
Practice number	900237

Previous Auditors

Company Name/ Tel	Time With Previous Auditors
No information on record

Tax Information

Vat Number	4540171461
Status	Active
Vat Liable Date	1990
Tax Number	9553317844
Tax Clearance Expire Date	20 October 2011
Financial Year End	APRIL

Black Economic Empowerment

Status

None

ISO Status

Type of ISO Grade

Workman’s compensation

Registered	Yes
Compliance Certified	Yes

Company Structure

Branches

The subject has 3 title deeds covering 70 hectares in the Tarlton district which is reported to owned by the associated companies, with a combined market value in the region of R20 000 000.

The subject has approximately 30 dealerships countrywide.

Subsidiary Company

None

Number of Employees

250

1. Salaried employees

50 administration staff

200 farm workers

Company Fleet	20
Fleet Operations
The Fleet is made up of
1. Cars	10
2. Light Delivery Vehicles	7
3. Trucks	3

Head OfficeOwned/ Rented	The heading premises are owned.
Owned by	TIJBROS AGRICULTURAL MACHINERY CC
Value	Market value in the region of R10 000 000
Bond	Free of bond.
Type of Premises	The heading premises cover 6.8 hectares, which comprise of administration offices, storage, warehousing and workshop facilities as well as a small vegetable farm with 40 tunnels.

Trade References

The subject imports machinery from India, China, Turkey, Italy, Holland, Germany and Korea.

Supplier	Contact
Awaiting information from the principle of the subject

Trade References

Age of Acc	Credit Limit	Max Credit	Terms	Average Purchases	Terms Taken	Comment
Awaiting

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	ABSA Bank
Branch	Clearwater Mall
Bank Account Number	4050205682
Type of account	Cheque
Branch Code	630841
Account Name	DICLA FARM AND SEED (PTY) L TD
Date Opened
Bank Code	Awaiting a bank code – once received will be forwarded
Bank Comment

It was stated that the subject enjoys an overdraft facility to an extent of R6 500 000,secured by personal sureties of the shareholders and limited cession of debtors. The overdraft facility is utilized for working capital purposes.

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
None

Financial Information

Financial Estimates

CURRENT ASSETS
Stock	R30 000 000
Total Debtors 30 day Debtors	R 9 000 000 R 4 000 000
Cash on Hand	Fluctuates
FIXED ASSETS
Plant, Equipment, Vehicles
Property	R10 000 000
CURRENT LIABILITIES
Local Creditors Foreign Creditors	R2 500 000 R1 500 000
Loans from D TIJSSEN	R8 000 000
LONG TERM LIABILITIES
Morgage Bonds	R4 000 000
ANNUAL Turnover	R100 000 000 – R120 000 000
Previous Year Turnover (2010)	R 80 000 000
Estimated Current Year Turnover (2012)	R120 000 000

Principals

Number of Principals	2
Average Age of Active Principals	49

Active Principals

Principal 1 of 2

Surname	TIJSSEN
First Names	CORNELIA, HELENA
Marital Status	Married out of community
ID Number	751200121081
Verified ID Number	Yes
Current Age	36
Designation	Director
Status	active
Address (at time of Appointment)	Plot 4 Van Bergenweg Aanwins ROODEPOORT Gauteng

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
JOMANDI GENERATORS CC	2005/110523/23	Active	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 2

Surname	TIJSSEN
First Names	JOHANNES
Marital Status	Married out of community
ID Number	7806135133083
Verified ID Number	Yes
Current Age	33
Designation	Director / business person
Status	Active
Address (at time of Appointment)	256 Bartlett Road Thorny Valley KRUGERSDORP 1747

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
KIRD PROPERTIES (PTY) LTD	1971/013438/07	In business	0	No
DICLA ARM AND SEED CC	1997/024485/23	Conversion CO/CC or CC/CO	0	No

Previous Business Interests

Average Age of Previous Business Interests

11 years 4 months

Company Name	Registration No	Status	Judgements	Liquidation
JOMAJOCO BOERDERY CC	1988/014507/23	In business	0	No
TIJBROS AGRICULTURAL MACHINERY CC	1998/002062/23	In business	0	No
JOMANDI GENERATORS CC	2005/110523/23	In business	0	No
DICLA TRAINING AND FARMING CC	2007/210871/23	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

…………

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.43
UK Pound	1	Rs.71.90
Euro	1	Rs.63.41

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.

Company Information

Bookkeeper Information

Auditors Information

Trade References

Deeds Information

Bank Information

Financial Information

Unit