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MIRA INFORM REPORT
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Report Date : |
27.07.2011 |
IDENTIFICATION DETAILS
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Name : |
TRIDENT SADDLERY (PTY) LTD |
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Formerly Known As : |
H I MERWITZ (PTY) LTD |
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Registered Office : |
5th Floor, Genop House, 15 Hulbert Street, New Centre, Johannesburg, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
10.08.1965 |
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Com. Reg. No.: |
1965/006811/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturing and wholesaling of various equestrian products such as safety helmets, saddles, bridles, clothing and accessories |
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RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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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
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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South Africa |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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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 |
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Company Information
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Registered
Name |
TRIDENT SADDLERY (PTY) LTD |
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Previous Name |
H I MERWITZ (PTY) LTD |
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Date of Name
Change |
2010 |
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Registration
Number |
1965/006811/07 |
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Registration
Date |
10 August 1965 |
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Date Commenced
Trading |
1961 |
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History of
Business |
The subject was commenced in 1961 as a feed merchant. |
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Shareholders of
subject and % holding |
100% H I MERWITZ |
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IssuedShare
Capital |
R100 |
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Age of Company |
45 years 11 months |
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Status |
Active |
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Operations
Assessment |
Manufacturing and wholesaling of various
equestrian products such as safety helmets, saddles, bridles, clothing and
accessories. |
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Industry/
Customers |
Retailers and on a smaller scale to the
general public. |
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Area of
Distribution |
South Africa |
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Exporting |
African countries and occasionally Dubai
and Ireland. |
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Major
Industry Code / SICC |
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Definition of
Code |
Manufacture of other general goods of leather & substitutes & saddlery |
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Head
Office Physical Address |
5th Floor Genop House 15 Hulbert Street NEW CENTRE Johannesburg Gauteng |
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Head
Office Postal Address |
P O Box 74343 TURFFONTEIN 2140 |
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Current
Tel Number Cell
number |
011 493 8514 |
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Current
Fax Number |
011 493 0119 |
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Current Email
Address |
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Web Site Address |
Auditors Information
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Company Registered
Name |
OCTAGON |
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Trading Name |
Partnership |
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Physical Address |
21 Scott Street WAVERLEY 2090 |
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Postal Address |
Private Bag X02 HIGHLANDS NORTH 2037 |
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Contact Person |
Anthony Feinberg |
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Contact Number |
011 531 7300 |
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Email |
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Principals |
4 |
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Subject Verified
as Client |
Yes |
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Practice number |
944351 |
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BEE Status |
Level 3 |
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Website |
Previous Auditors
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Company Name/ Tel |
Time With Previous Auditors |
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HERBERT AND TRACKMAN |
30 years |
Tax Information
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Vat Number |
9020625878 |
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Status |
Active |
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Vat Liable Date |
25 August 2011 |
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Tax Number |
4490117944 |
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Tax Clearance Expire
Date |
November 2011 |
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Financial Year
End |
FEBRUARY |
Black Economic
Empowerment
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Status |
Yes |
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Score |
Level 7 |
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Expire Date |
In process of reapplying |
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BEE Certificate
Available |
Yes |
ISO Status
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Type of ISO
Grade |
No |
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ISO Certificate |
None |
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ISO Certificate
Available |
No |
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Certified by an
Accredited Agent |
No |
Workman’s
compensation
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Registered |
Yes |
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Compliance
Certified |
Yes |
Company Structure
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Branches |
The subject has a
branch, which comprise of a retail store in Bloemfontein, Free State. |
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Subsidiary
Company |
None |
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Shareholding |
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Registration
Number |
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Import / Export |
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Number of
Employees |
50 total |
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1.
Salaried
employees |
16 |
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2.
Waged
employees |
34 |
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3.
Casual
employees |
Occasionally
when required |
Company Fleet |
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Fleet Operations |
2 |
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The Fleet is
made up of |
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1.
Cars |
1 |
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2.
Trucks |
1 X Mercedes
Benz Sprinter |
Head Office
Owned/ Rented |
The heading premises are leased |
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Rental Company |
CITINET |
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Lease Agreement |
3 years |
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Lease Expire
Date |
2012 |
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Type of Premises |
The heading premises comprise of a showroom, administration offices,
warehousing and manufacturing facilities. |
Branches Owned/
Rented |
The branch premises in Bloemfontein are leased. |
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Rental Company |
REDEFINE |
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Lease Agreement |
3 years |
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Lease Expire
Date |
2012 |
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Type of Premises |
Retail store |
Trade References
The subject imports leather and saddles from UK, Germany, India,
Pakistan and China.
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Supplier |
Contact |
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SAFCOR |
011 570
6000 |
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HENNEWAYS |
011 879
5400 |
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CARGO COMPASS |
011 454
2010 |
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LEATHER FROM
HART |
033 398
5700 |
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MOSOP LEATHERS |
021 864 9334 |
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AVMOR HOUSEHOLD
PRODUCTS |
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Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
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4 July 2011 |
Amounts |
Confidential |
30 |
Confidential |
To new |
to comment |
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10 years+ |
R250 000 |
R50 000 |
30 |
R20 000 |
30 |
Very good |
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Old acc |
Open |
R150 000 |
30 |
R150 000 |
30 |
Very good |
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February 2011 |
R250 000 |
R185 000 |
30 |
R185 000 |
30 |
Good |
Adverse
Information on Subject
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Judgements |
No information on record |
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Possible
Judgements |
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Civil Court |
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RDs |
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Judgements
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Case Number |
No information on record |
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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) |
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Default Data
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Date |
Details |
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No information on record |
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Notarial Bonds
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Date |
Details |
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No information on record |
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Deeds Information
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Property Interest |
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No information on record |
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Property Type: |
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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
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Bank |
STANDARD BANK |
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Branch |
Carlton Centre |
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Bank Account
Number |
001273957 |
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Type of account |
Current |
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Branch Code |
2305 |
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Account Name |
TRIDENT SADDLERY (PTY) LTD |
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Date Opened |
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Bank Code |
Awaiting – will forward as soon as obtained |
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Bank Comment |
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Bank Codes History
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Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
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No information on record |
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Previous Bank
Accounts
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Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
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No information on record |
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Financial Information
Financial
Estimates
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CURRENT ASSETS |
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Stock |
R4 000 000 |
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Debtors |
R2 000 000 |
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FIXED ASSETS |
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Plant,
Equipment, Vehicles – net book value |
R1 000 000 |
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Property |
Nil |
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CURRENT
LIABILITIES |
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Creditors |
R1 200 000 |
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Loans |
Nil |
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LONG TERM
LIABILITIES |
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Morgage Bonds |
Nil |
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ANNUAL Turnover |
R20 000 000 |
Principals
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Number of
Principals |
2 |
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Average Age of
Active Principals |
63 years 3 months |
Active Principals
Principal 1 of 2
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Surname |
SHABANGU |
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First Names |
NOMROD |
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Marital Status |
Married |
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ID Number |
580101672088 |
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Verified ID
Number |
Yes |
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Current Age |
53 |
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Designation |
Director |
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Status |
Active |
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Appointment Date |
30 April 1998 |
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Address (at time of
Appointment) |
455 Mnisi Street MOFOLO NORTH 1852 |
Adverse
Information on Principal
Judgement
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Number of
Judgements |
No information on record |
Debt Review
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Debt review |
No information on record |
Other
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Default data |
No information on record |
Business Information on
Principal
Current Business Interests
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
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No additional business interests |
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Previous Business
Interests
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Average Age of
Previous Business Interests |
None |
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
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No information on record |
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Deeds Information
Property Interests of
Principle
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Property Interest |
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Title Deed No. |
No information on record |
Erf/Site No. |
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Deeds Office |
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Physical Address |
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Property Type |
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Extent / Size |
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Purchase Date |
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Purchase price |
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% Ownership |
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Bond Holder |
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Bond Number |
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Bond Amount |
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Principal 2 of 2
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Surname |
MERWITZ |
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First Names |
HENRY, IVAN |
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Marital Status |
Married |
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ID Number |
3709245018000 |
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Verified ID
Number |
Yes |
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Current Age |
74 |
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Designation |
Director |
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Status |
Active |
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Appointment Date |
8 October 1965 |
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Address (at time of
Appointment) |
18 St Andrews Road GLEN ADRIENNE 2196 |
Adverse Information on Principal
Judgement
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Number of
Judgements |
No information on
record |
Debt Review
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Debt review |
No information on record |
Other
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Default data |
No information on record |
Business Information on Principal
Current Business
Interests
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
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LENTREE
PROPERTIES (PTY) LTD |
1967/001634/07 |
Deregistration
process |
0 |
No |
Previous Business
Interests
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Average Age of Previous
Business Interests |
None |
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
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No information on record |
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Deeds Information
Property Interests
of Principle
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Property Interest |
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Title Deed No. |
No information on record |
Erf/Site No. |
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Deeds Office |
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Physical Address |
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Property Type |
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Extent / Size |
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Purchase Date |
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Purchase price |
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% Ownership |
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Bond Holder |
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Bond Number |
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Bond Amount |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.29 |
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UK Pound |
1 |
Rs.72.37 |
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Euro |
1 |
Rs.64.17 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.