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MIRA INFORM REPORT
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Report Date : |
26.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
JCE INDUSTRIES (PTY) LTD |
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Registered Office : |
29 Oppenheimer Street, Pinetown, Kwazulu Natal |
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Country : |
South Africa |
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Date of Incorporation : |
11.03.2004 |
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Com. Reg. No.: |
2004/006783/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacture and import of belts and accessories, bags, wallets etc |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 that purchases up to and over
R1 000 000 per month.
A bank code C was obtained for R1 000 000.
The subject has provide financials attached.
They would be considered as equal to USD 100 000 over 30 days.
Company Information
|
Registered
Name |
JCE INDUSTRIES (PTY) LTD |
|
Trading
as/ Division Name |
EQUATOR ACESSORIES |
|
Previous Name |
None |
|
Date of Name
Change |
None |
|
Registration
Number |
2004/006783/07 |
|
Registration
Date |
2004-03-11 |
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Date Commenced
Trading |
2005 |
|
History of
Business |
The business was originally Mantella Trading 55 CC t/a Q Leather
however this business was closed and operations and assets were incorporated
into the subject in 2005. |
|
History of
Principals |
Both principals of the subject were involved in the original business. |
|
Shareholders of
subject and % holding |
100% L C BUHR |
|
Age of Company |
7 YEARS 4 MONTHS |
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Status |
In Business |
|
Operations
Assessment |
Manufacture and import of belts and
accessories, bags, wallets etc: |
|
Import, Export |
Yes |
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Industry/
Customers |
Retail chain stores |
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Major Industry
Code / SICC |
31629 Manufacturing |
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Definition of
Code |
Manufacture of other general goods of
leather and substitutes and saddler. |
|
Head Office
Physical Address |
29 Oppenheimer Street PINETOWN Kwazulu Natal The address of : Unit 14 Port Shepstone Park 2 Blase road Kwazulu Natal is an old address of the subject. |
|
Head Office
Postal Address |
P O Box 448 NEW GERMANY 3620 |
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Current Tel
Number |
031 7021469 |
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Current Fax
Number |
0865121665 |
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Current Email
Address |
|
|
Web Site Address |
www.equatoracessories.co.za |
Auditors Information
|
Company
Registered Name |
GRANT CLINTON AND ASSOCIATES |
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Trading Name |
None |
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Registration
Number |
Sole proprietor ID:6611185075080 |
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Physical Address |
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Postal Address |
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Contact Person |
GRANT CLINTON / YASMINE |
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Contact Number |
031 5662480 |
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Email |
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Principals |
GRANT CLINTON |
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Judgements
Against Subject |
031 5662480 |
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Judgement
Against Principal |
None |
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Subject Verified
as Client |
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|
SAICA number |
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VAT Number |
4430197345 |
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Tax Number |
None |
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BEE Status |
|
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Financial Year
End |
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Years With
Auditors |
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|
Website |
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Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
None |
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Tax Information
|
Vat Number |
4820202051 |
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Status |
Active |
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Vat Liable Date |
Monthly |
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Tax Number |
9085603208 |
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Tax Clearance
Expire Date |
August and February |
|
Financial Year
End |
February |
Black Economic
Empowerment
|
BEE Status |
Yes |
|
Score |
Level 4 |
|
Expire Date |
March 2012 |
|
BEE Certificate
Available |
Yes |
ISO Status
|
Type of ISO
Grade |
None |
|
ISO Certificate |
Yes/No |
|
ISO Certificate
Available |
Yes/No |
|
Certified by an
Accredited Agent |
Yes/No |
Workman’s
compensation
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
Company Structure
|
Branches |
2 |
2
|
Branches Names |
Country |
Province |
|
Johannesburg |
SA |
Gauteng |
|
Cape Town |
SA |
Western Cape |
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Subsidiary
Company |
None |
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Shareholding |
|
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Registration
Number |
|
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Import / Export |
|
|
Number of
Employees |
50 |
|
1.
Salaried
employees |
15 |
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2.
Waged
employees |
31 |
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3.
Permanent
employees |
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4.
Casual
employees |
4 |
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5.
Contracted
employees |
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Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding
Balance |
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Fleet Operations |
3 |
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The Fleet is
made up of |
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1.
Cars |
1 |
Owned |
Unknown |
Unknown |
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2.
Light
Delivery Vehicles |
2 |
Owned |
Unknown |
Unknown |
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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 |
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Rental Company |
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Owned by |
THE ALEO FAMILY TRUST ( Mr Buhr’s Trust) |
|
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 |
Factory and Offices |
Branches Owned/
Rented |
Cape town – rented |
|
Rental Company |
Orange Oak Investments (Pty) Ltd |
|
Owned |
|
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Value |
|
|
Bank |
|
|
Bond |
|
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Lease Agreement |
2 years |
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Lease Expire
Date |
July 2012 |
|
Type of Premises |
Office |
The Johannesburg office is run from an employee’s home premises.
Trade References
|
Supplier |
Contact |
|
SYNERGY FREIGHT |
031 2087707 (
Kovashnie) |
|
EURO BUCKLES |
031 7016024
(Melissa) |
|
HRP(RTT) |
021 9537009 (Nadia) |
|
MLT TRANSPORT |
031 7057794 |
|
COMPUTER FREEDOM |
031 7656098 |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
5 years |
Open |
R50 000 |
30 days |
R50 000 |
30 days |
Very Good |
|
4 years |
R15 000 |
R30 000 |
30 days |
R20 000 |
30 days |
Very Good
(exceeds limit) |
|
5-7 years |
Open |
R20 000 |
30 days |
R20 000 |
30 days |
Excellent |
|
8 years |
R2 000 000 |
R1 300 000 |
30 days |
R700 000 -
R1 300 000 |
30 days |
Very Good |
Adverse
Information on Subject
|
Judgements |
None |
|
Possible
Judgements |
None |
|
Civil Court |
None |
|
RDs |
None |
Default Data
|
Date |
Details |
|
None |
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Notarial Bonds
|
Date |
Details |
|
None |
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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 The subject previously banked with Standard bank New Germany. |
|
Branch |
Corporate, Durban |
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Bank Account
Number |
62157522551 |
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Type of Account |
Debtors financing account |
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Branch Code |
Unknown |
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Account Name |
JCE INDUSTRIES (PTY) LTD |
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Date Opened |
11-10-2007 |
|
Bank Code |
C |
|
Bank Comment |
The subjects bankers consider them as equal to their normal business
engagements. |
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
Please see the latest financials attached submitted by the company.
Principals
|
Number of
Principals |
2 |
|
Average Age of
Active Principals |
41 |
Active Principals
Principal 1 of 2
|
Surname |
MATAI |
|
First Names |
RAJEEV |
|
Marital Status |
Married |
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ID Number |
7107025052081 |
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Verified ID
Number |
Yes |
|
Current Age |
40 |
|
Designation |
Production Director |
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Status |
Active |
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Appointment Date |
2005-06-28 |
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Address (at time of
Appointment) |
53 Hovenhill Place DURBAN 4001 |
Adverse Information on
Principal
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information on
Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
Previous Business
Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
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|
Deeds Information
Property Interests of
Principle
|
Property Interest |
|||
|
Title Deed No. |
None |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
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Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
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% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Principal 2 of 2
|
Surname |
BUHR |
|
First Names |
LEON |
|
Marital Status |
Married |
|
ID Number |
6910255011086 |
|
Verified ID
Number |
Yes |
|
Current Age |
42 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2004-07-21 |
|
Address (at time of
Appointment) |
1 Sandlea 4 Coghill Avenue KLOOF 3610 |
Adverse
Information on Principal
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information on Principal
Current Business
Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
THE GERMAN
SCHOOL ASSOCIATION OF PORT NATAL |
1976/004566/08 |
In Business |
0 |
No |
|
MANTELLA TRADING
55 CC |
2001/004525/23 |
In Business |
0 |
No |
|
SEDECO (PTY) LTD |
2005/031715/07 |
In Business |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
6 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
KAZILLION
TRADING (PTY) LTD |
2005/023879/07 |
In Business |
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 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.42 |
|
UK Pound |
1 |
Rs.72.49 |
|
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.