%20LTD%20-%20148346%2025-Jul-2011_files/image002.jpg){kind=small}
MIRA INFORM REPORT
|
Report Date : |
25.07.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
UMAKHO POWER (PTY) LTD |
|
|
|
|
Formerly Known As : |
Umakho Power CC |
|
|
|
|
Registered Office : |
P O Box 5227, Rietvleirand 0157 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
July 2011 |
|
|
|
|
Com. Reg. No.: |
2011/011816/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Construction of civil engineering structures |
RATING & COMMENTS
|
MIRA’s Rating : |
Nb |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
---- |
NB |
New Business |
---- |
|
Status : |
New Company |
|
|
|
|
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 a newly trading company formed from a previous CC.
The subject is meeting its current commitments timeously.
The maximum amount traced is R200 000.
It is suggested dealings be secured until the subject is better
established.
Company Information
|
Registered
Name |
UMAKHO POWER (PTY) LTD |
||
|
Previous Name |
Umakho Power CC |
||
|
Date of Name
Change |
The company converted from a close corporation in July 2011. |
||
|
Registration
Number |
2011/011816/07 |
||
|
Registration
Date |
July 2011 |
||
|
Date Commenced
Trading |
2007 |
||
|
History of
Business |
The subject converted from UMAKHO POWER CC
– registration certificate number:
1995/054634/23 in July 2011. The above mentioned close corporation was
a shelf close corporation, which changed its name from P CONNICK AND
ASSOCIATES CC and commenced active operations in May 2007. |
||
|
History of
Principals |
It was established that prior to
commencing the subject, the directors were employed at CONCO. |
||
|
Shareholders/Members/Partners
of subject and % holding |
100%
UMAKHO GROUP (PTY) LTD, which is in turn owned 50% DAXEN TRUST (P
Connick), 30% MGVALI FINANCIAL SERVICES and 20% SOLRAC TRUST (C Azenha). The shareholding changed in July 2011 and
was previously: 26%
P LEKOATSIPA 37%
C AZENHA 37%
P CONNICK |
||
|
Issued Share
Capital |
R100 |
||
|
Age of Company |
1 month |
||
|
Status |
Active |
||
|
Operations
Assessment |
Civil engineering company involved in the
construction of high voltage power lines, sub stations and related products. |
||
|
Industry/
Customers |
Energy sector such as ESKOM, mining sector
and municipalities. |
||
|
Major Industry
Code / SICC |
|
||
|
Definition of
Code |
Construction of civil engineering structures |
||
|
Area of
distribution |
South Africa |
||
|
Export |
Zambia and Botswana The subject has tendered for projects in Northern Africa. |
||
|
Head Office
Physical Address |
Unit 6 Gamma Park 67 Regency Drive Route 21 Corporate Park IRENE Pretoria Gauteng The subject from in 2010 from the premises: 33 Sovereign Avenue, route 21 Office Park,
Irene. |
||
|
Head Office
Postal Address |
P O Box 5227 RIETVLEIRAND 0157 |
||
|
Current Tel
Number Cell number |
012 345 6962 |
||
|
Current Fax
Number |
012 345 5398 0866 822612 |
||
|
Current Email
Address |
|||
|
Web Site Address |
Auditors Information
|
Company
Registered Name |
PROLOG CHARTERED ACCOUNTANTS INC |
|
Trading Name |
PROLOG |
|
Registration
Number |
2001/019887/21 |
|
Physical Address |
38 Tromp Street ELARDUSPARK EXT 1 Pretoria Gauteng |
|
Postal Address |
P O Box 26741 MONUMENT PARK 0105 |
|
Contact Person |
Juanita Grove |
|
Contact Number |
012 345 6312 |
|
Email |
|
|
Principals |
1 |
|
Judgements
Against Subject |
None |
|
Judgements
Against Principals |
None |
|
Subject Verified
as Client |
Yes |
|
VAT Number |
4690224409 |
|
Tax Number |
9583187142 |
|
Financial Year
End |
February |
|
Years With
Auditors |
2 years |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
TAXMART |
2 years |
Tax Information
|
Vat Number |
4710239874 |
|
Status |
Active |
|
Vat Liable Date |
1 September 2007 |
|
Tax Number |
9452575849 |
|
Tax Clearance
Expire Date |
October 2011 |
|
Financial Year
End |
February |
Black Economic Empowerment
|
Status |
Yes |
|
Score |
Level 6 |
|
Expire Date |
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 |
No information on record |
|
Shareholding |
|
|
Registration
Number |
|
|
Import / Export |
|
|
Number of
Employees |
300 total |
|
1.
Salaried
employees |
|
|
2.
Waged
employees |
|
|
3.
Permanent
employees |
25 |
|
4.
Casual
employees |
|
|
5.
Contracted
employees |
Approx. 275 |
The amount of
contract workers fluctuates depending on the size of the project on hand.
Company Fleet |
|
|
Fleet Operations |
|
|
The Fleet is
made up of |
|
|
1.
Cars |
2 |
|
2.
Light
Delivery Vehicles |
2 owned by the
subject 14 leased from
U-DRIVE |
|
3.
Trailers |
|
|
4.
Busses |
|
|
5.
Trucks |
1 owned by the
subject 2 leased from
IMPERIAL RENTAL |
|
6.
Fork
Lifts |
|
|
7.
Other |
1 TBL scrapper |
Head Office
Owned/ Rented |
Leased |
|
Rental Company |
BUSINESS PARTNERS |
|
Lease Agreement |
2 year lease agreement |
|
Lease Expire
Date |
2012 |
|
Type of Premises |
The heading premises comprise of administration offices and storage
facilities. |
Additional
Storage Facilities |
The subject rents, on an ongoing agreement, two additional storage
facilities from QUALITY STORAGE. |
|
Type of Premises |
Storage facilities |
Trade References
The subject imports via its associate company UMAKHO POWER PROJECTS
(PTY) LTD stringing equipment.
|
Supplier |
Contact |
|
QUAL ENGINEERING |
031 569
1242 |
|
IMPERIAL RENTAL |
011 9777 1000 |
|
U-DRIVE |
011 392
5852 |
|
MCWADE |
011 316
2262 |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
3 years |
R100 000 |
R90 000 |
30 |
R80 000 |
30 |
Very good |
|
1 month |
R200 000 |
R104 000 |
30 |
R104 000 |
30 |
Too new to
comment |
|
Company |
Policy |
Do not |
Give |
Trade |
references |
|
|
April 2007 |
R150 000 |
R74 000 |
30 |
R5 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 |
STANDARD BANK |
|
Branch |
Centurion |
|
Bank Account
Number |
422035017 |
|
Type of account |
cheque |
|
Branch Code |
051001 |
|
Account Name |
UMAKHO POWER CC |
|
Date Opened |
10 August 2007 |
|
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 – year to date
|
CURRENT ASSETS |
|
|
Stock |
The subject purchases stock per project. |
|
Debtors |
|
|
Cash on Hand |
|
|
FIXED ASSETS |
|
|
Plant,
Equipment, Vehicles |
|
|
Property |
|
|
CURRENT
LIABILITIES |
|
|
Creditors |
R12 900 000 |
|
Loans/ From? |
|
|
LONG TERM
LIABILITIES |
|
|
Morgage Bonds |
|
|
YEAR TO DATE
sales figures |
R16 200 000 |
|
Previous Year
Turnover |
|
|
Estimated
Current Year Turnover |
|
Further financial information was declined by the principle of the
subject.
Principals
|
Number of
Principals |
3 |
|
Average Age of
Active Principals |
40 |
It was stated that the principles are in the process of changing and
that P LEKOATSIPA will resign in the near future.
Active Principals
Principal 1 of 3
|
Surname |
LEKOATSIPA |
|
First Names |
PETROS |
|
Marital Status |
Married out of community of property |
|
ID Number |
7812105580089 |
|
Verified ID
Number |
Yes |
|
Current Age |
33 |
|
Designation |
Director |
|
Status |
active |
|
Appointment Date |
July 2011 |
|
Address (at time of
Appointment) |
Stand 213 A Tooiskraal MARBLE HALL 0450 |
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 |
|
UMAKHO POWER CC |
1995/054634/23 |
Converted to CO |
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. |
|
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 |
AZENHA |
|
First Names |
CAROLS |
|
Marital Status |
Married out of community of property |
|
ID Number |
6601205076085 |
|
Verified ID
Number |
Yes |
|
Current Age |
45 |
|
Designation |
director |
|
Status |
Active |
|
Appointment Date |
July 2011 |
|
Address (at time of
Appointment) |
P O Box 82354 DOORNPOORT 0017 |
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 |
|
MELINA
PROPERTIES CC |
1999/03789/23 |
Deregistration
final |
0 |
No |
|
LTK HIGH VOLTAGE
INSTALLATION (PTY) LTD |
1999/002612/07 |
Deregistration
process |
0 |
No |
|
UMAKHO GROUP
(PTY) LTD |
2009/015116/07 |
In business |
0 |
No |
|
UMAKHO POWER CC |
1995/054634/23 |
Conversion to CO |
0 |
No |
|
UMAKHO POWER
PROJECTS (PTY) LTD |
2009/015304/07 |
In business |
0 |
No |
|
UMAKHO PLANT AND
EQUIPMENT (PTY) LTD |
2009/020732/07 |
In business |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
1 |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
MOZALEC
ELECTRICAL CONRACTOR LDA CC |
1999/023946/23 |
Deregistration
final |
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 |
CONNICK |
|
First Names |
PAUL |
|
Marital Status |
Married out of community of property |
|
ID Number |
6705035102084 |
|
Verified ID
Number |
Yes |
|
Current Age |
44 |
|
Designation |
director |
|
Status |
Active |
|
Appointment Date |
July 2007 |
|
Address (at time of
Appointment) |
27 Cresta Road Sunward Park BOKSBURG 1459 |
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 |
|
UMAKHO POWER CC |
1995/054634/23 |
Converted to CO |
0 |
No |
|
UMAKHO GROUP
(PTY) LTD |
2009/015116/07 |
In business |
0 |
No |
|
UMAKHO POWER
PROJECTS (PTY) LTD |
2009/015304/07 |
In business |
0 |
No |
|
UMAKHO PLANT AND
EQUIPMENT (PTY) LTD |
2009/020732/07 |
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 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.38 |
|
UK Pound |
1 |
Rs.72.34 |
|
Euro |
1 |
Rs.63.87 |
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.