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MIRA INFORM REPORT
|
Report Date : |
22.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
OPTI POWER PROJECTS (PTY) LTD |
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Registered Office : |
239 Broadlands Road, Strand, Western Cape 7140 |
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Country : |
South Africa |
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Date of Incorporation : |
04.09.2000 |
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Com. Reg. No.: |
2000/022311/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Power generation utility companies such as ESKOM, mining sectors, municipalities. |
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 |
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Payment
Behaviour : |
Usually Correct |
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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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Assessment:
This is an established company, meeting commitments timeously.
A bank code revealed a bank code C for R1 000 000 over 30
days.
The subjects effects a large turnover and would be considered as equal
to USD 500 000 as a maximum.
It should be borne in mind that the subject works on a project basis.
Company Information
|
Registered
Name |
OPTI POWER PROJECTS (PTY) LTD |
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|
Registration
Number |
2000/022311/07 |
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|
Registration
Date |
4 September 2000 |
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|
Date Commenced
Trading |
2001 |
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|
History of
Business |
The subject was commenced as a new business in 2001 by A SWART. |
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Shareholders/Members/Partners
of subject and % holding |
10% MS. F T MABENA 6% B ARENDS 10% A SOOBRAMONEY 74% A SWART |
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|
Age of Company |
10 years 10 months |
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|
Status |
Active |
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Operations
Assessment |
The building, upgrading of transmission
lines (high, medium and low voltage), substations, fibre optic networks. |
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|
Industry/
Customers |
Power generation utility companies such as
ESKOM, mining sectors, municipalities. |
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Major Industry
Code / SICC |
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Definition of
Code |
Construction of other structures |
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Head Office
Physical Address |
239 Broadlands Road STRAND Western Cape 7140 |
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Head Office
Postal Address |
P O Box 2579 SOMERSET WEST 7130 |
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|
Current Tel
Number Cell number |
021 845 6745 / 6 |
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Current Fax
Number |
021 845 5264 |
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|
Current Email
Address |
|||
|
Web Site Address |
Auditors Information
|
Company
Registered Name |
AF GATONBY AND COMPANY |
|
Physical Address |
124 Acacia road Blue Hills MIDRAND |
|
Postal Address |
P O Box 31584 KYALAMI 1684 |
|
Contact Person |
Tony Gatonby |
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Contact Number |
011 702 3102 |
|
Principals |
ANTHONY GATONBY |
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Subject Verified
as Client |
Yes |
|
Practice number |
930997 |
|
VAT Number |
None |
|
Tax Number |
Declined |
|
BEE Status |
None |
|
Financial Year
End |
February |
|
Years With
Auditors |
6-8 years |
|
Website |
None |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
D PHILLIPS AND COMPANY |
Not available |
Tax Information
|
Vat Number |
4460202957 |
|
Status |
Active |
|
Vat Liable Date |
February 2000 |
|
Tax Number |
9489120148 |
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Tax Clearance
Expire Date |
August 2011 |
|
Financial Year
End |
February |
Black Economic
Empowerment
|
BEE Status |
Yes |
|
Score |
Level 2 |
|
Expire Date |
August 2011 |
|
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 |
310 total |
|
1.
Salaried
employees |
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2.
Waged
employees |
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3.
Permanent
employees |
60 |
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4.
Casual
employees |
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5.
Contracted
employees |
250 |
Company Fleet |
15 - 20 |
|
Fleet Operations |
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|
The Fleet is
made up of |
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1.
Cars |
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2.
Light
Delivery Vehicles |
15 – 20 4x4 LDV |
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3.
Trailers |
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4.
Busses |
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5.
Trucks |
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6.
Fork
Lifts |
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7.
Other |
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Head Office
Owned/ Rented |
Owned |
|
Owned by |
ODIN NO 111 INVESTMENTS CC, in which A Swart is a member. |
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Value |
R4 000 000 |
|
Type of Premises |
The heading premises comprise of 7 000m2 of industrial land of which
600 m2 are under roof storage facilities and offices. |
Branches Owned/
Rented |
None |
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Rental Company |
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Owned |
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Value |
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Bank |
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|
Bond |
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|
Lease Agreement |
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Lease Expire
Date |
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|
Type of Premises |
|
Trade References
The subject imports steel, steel ropes from India and cables and
stringing equipment from Europe (Germany and Italy)
|
Supplier |
Contact |
|
WORLDNET
LOGISTICS |
|
|
ARB |
082 654 4111 |
|
BABCOCK |
011 739
8200 |
|
LAFARGE CEMENT |
|
|
MCWADE |
011 316
2262 |
|
HAGGIE |
021 508
1500 |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
2 months |
R300 000 |
R500 000 |
30 |
R300 000 |
30 |
Good |
|
February 2007 |
Amounts |
Confidential |
30 days |
Confidential |
30 days |
Good |
|
2 years |
R5 000 000 amounts |
R5 000 000 fluctuates |
30 depending |
R5 000 000 on project |
30 |
Very good |
Adverse
Information on Subject
|
Judgements |
No information on record |
|
Possible
Judgements |
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|
Civil Court |
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|
RDs |
|
Judgements
|
Case Number |
No information on record |
|
Amount |
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Reason |
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Court Name |
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Judgement Type |
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Judgement Date |
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Plaintiff
(Multiple) |
|
Default Data
|
Date |
Details |
|
No information on record |
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Notarial Bonds
|
Date |
Details |
|
No information on record |
|
Deeds Information
|
Property Interest |
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Property Type: |
No information on record |
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 |
Northgate |
|
Bank Account
Number |
62056006151 |
|
Type of account |
Cheque |
|
Branch Code |
256755 |
|
Account Name |
Opti Power Projects (Pty) Ltd |
|
Date Opened |
22/07/2003 |
|
Bank Code |
C |
|
Bank Comment |
R1 000 000 |
Bank Codes History
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
|
None |
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|
Previous Bank
Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
None |
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|
Financial Information
Financial
Estimates
Financial
information fluctuates depending on the size of the project on hand.
|
CURRENT ASSETS |
|
|
Work in progress
at present |
R280 000 000 |
|
Debtors |
R64 000 000 |
|
Cash on Hand |
R26 000 000 |
|
FIXED ASSETS |
|
|
Plant,
Equipment, Vehicles |
R40 000 000 |
|
Property |
None |
|
CURRENT
LIABILITIES |
|
|
Creditors |
R11 000 000 |
|
Loans/ From? |
Nil |
|
LONG TERM
LIABILITIES |
|
|
Morgage Bonds |
Nil |
|
ANNUAL Turnover
(2011) |
R78 000 000 |
|
Previous Year
Turnover (2010) |
R34 000 000 |
|
Estimated
Current Year Turnover (2012) |
R150 000 000 |
Principals
|
Number of
Principals |
5 |
|
Average Age of
Active Principals |
42 |
Active Principals
Principal 1 of
|
Surname |
MABENA |
|
First Names |
DUDUZILE, FAITH |
|
Marital Status |
Married under traditional law |
|
ID Number |
7904170240085 |
|
Verified ID
Number |
Yes |
|
Current Age |
32 |
|
Designation |
Business women / director |
|
Status |
Active |
|
Appointment Date |
7 September 2009 |
|
Address (at time
of Appointment) |
No. 20 Midrand Gardens Van Heerden Street 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 |
|
No other business interests on record |
|
|
|
|
Previous Business
Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
No information on record |
|
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|
|
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 5
|
Surname |
ARENDS |
|
First Names |
BETHUEL |
|
Marital Status |
married |
|
ID Number |
7506025386086 |
|
Verified ID Number |
Yes |
|
Current Age |
36 |
|
Designation |
Business man / director |
|
Status |
Active |
|
Appointment Date |
7 September 2009 |
|
Address (at time of
Appointment) |
No 20. Midrand Gardens Van Heerden Street 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 |
|
HIGH POINT TRADING 350 CC |
2004/087277/23 |
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 3 of 5
|
Surname |
SOOBRAMONEY |
|
First Names |
ASHLEY |
|
Marital Status |
married |
|
ID Number |
8111185217087 |
|
Verified ID
Number |
Yes |
|
Current Age |
30 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
23 July 2009 |
|
Address (at time of
Appointment) |
51 Pine Creek Sir Lowrys Pass Road SOMERSET WEST 7129 |
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 |
|
WESTGRID CIVILS (PTY) LTD |
2009/013481/07 |
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 4 of 5
|
Surname |
VAN DER MERWE |
|
First Names |
WILLEM |
|
Marital Status |
married |
|
ID Number |
5304255165087 |
|
Verified ID
Number |
Yes |
|
Current Age |
58 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
23 July 2009 |
|
Address (at time
of Appointment) |
68, 18th Avenue Boston BELLVILLE 7530 |
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 |
|
No other business interests on record |
|
|
|
|
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 5 of 5
|
Surname |
SWART |
|
First Names |
ANDRE |
|
Marital Status |
married |
|
ID Number |
5711115098086 |
|
Verified ID
Number |
Yes |
|
Current Age |
54 |
|
Designation |
Project Manager / director |
|
Status |
Active |
|
Appointment Date |
22 July 2002 |
|
Address (at time
of Appointment) |
4 Haxel Road SOMERSET WEST 7130 |
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 |
|
IBIS PROJECTS CC |
1`97/037456/23 |
In business |
0 |
No |
|
ODIN NO 11 INVESTMENTS CC |
2004/051714/23 |
In business |
0 |
No |
|
PLURINITE INVESTMENTS (PTY) LTD |
2010/014878/07 |
In business |
0 |
No |
|
PLURINIX INVESTMENTS (PTY) LTD |
2010/014882/07 |
In business |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
14 years 11 months |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
AAB STEEL ERECTION AND SHEETING CC |
1996/039801/23 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.