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MIRA INFORM REPORT
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Report Date : |
28.07.2011 |
IDENTIFICATION DETAILS
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Name : |
WIRE PRODUCTS STAINLESS STEEL (PTY) LTD |
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Registered Office : |
Corner Of Snapper And Haring Streets, Wadeville Extension 2,
Germiston, 1401 |
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Country : |
South Africa |
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Date of Incorporation : |
10.09.1996 |
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Com. Reg. No.: |
1996/012262/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturers of stainless steel long products |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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
|
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 business which is
internationally owned.
Most of the suppliers do not give trade
references.
The maximum amount traced locally is
R40 000 as the subject imports and certain suppliers do not give train
references.
A bank code C was given for R100 000 over
30 days.
It is suggested dealings be fully secured.
Company Information
|
Registered
Name |
WIRE PRODUCTS STAINLESS STEEL (PTY) LTD |
|
Trading
as/ Division Name |
None |
|
Previous Name |
None |
|
Date of Name
Change |
None |
|
Registration
Number |
1996/012262/07 |
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Registration
Date |
1996-09-10 |
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Date Commenced
Trading |
1996 |
|
History of
Business |
The business was registered toi take over the operations and assets of
a company namely WIRE PRODUCTS (PTY) LTD which had been trading for over 20
years. |
|
Shareholders of
subject and % holding |
NOVAMITTAL SA (A company in ITALY) |
|
Authorised Share
Capital |
R1000 divided into R1 shares |
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Issued Share
Capital |
R1000 |
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Age of Company |
14 years 10 months |
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Status |
In Business |
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Operations
Assessment |
Manufacturers of stainless steel long
products. |
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Industry/
Customers |
Mining, Engineering and motor industry. |
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Export |
No, however the subject imports. |
|
Major Industry
Code / SICC |
35102 Manufacturing |
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Definition of
Code |
Steel pipe and tube mills. |
|
Head Office
Physical Address |
Corner of Snapper and Haring Streets Wadeville Extension 2 GERMISTON 1401 |
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Head Office
Postal Address |
P O Box 14882 WADEVILLE 1422 |
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Current Tel
Number |
011 8241528 |
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Current Fax
Number |
011 8243206 |
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Current Email
Address |
colinroberts@wpss.co.za |
|
Web Site Address |
None |
Auditors Information
|
Company
Registered Name |
A ROTH |
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Contact Person |
TONY |
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Contact Number |
011 8838141/ 082 4471561 |
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Email |
tonyro@iafrica.co.za |
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Subject Verified
as Client |
Yes |
We are awaiting to see if the auditors will supply more information and an email was forwarded. Should any more details be given we will send asap.
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
WALTER CASPARY |
Many years |
Tax Information
|
Vat Number |
4110163237 |
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Status |
Active |
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Vat Liable Date |
Monthly |
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Tax Number |
9122005839 |
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Tax Clearance
Expire Date |
December |
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Financial Year
End |
December |
Black Economic
Empowerment
|
Status |
Yes, finalizing the updating of BEE certificate at present |
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Score |
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|
Expire Date |
|
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BEE Certificate
Available |
Yes/No |
ISO Status
|
Type of ISO
Grade |
90012000 |
|
ISO Certificate |
Yes |
|
ISO Certificate
Available |
No |
|
Certified by an
Accredited Agent |
Yes - DEKRA |
Workman’s
compensation
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
Company Structure
|
Branches |
None |
|
Branches Names |
Country |
Province |
|
None |
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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 |
78 |
|
1.
Salaried
employees |
26 |
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2.
Waged
employees |
52 |
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3.
Permanent
employees |
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4.
Casual
employees |
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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 |
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The Fleet is
made up of |
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1.
Cars |
3 |
Owned |
|
? |
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2.
Light
Delivery Vehicles |
2 |
Owned |
|
? |
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3.
Trailers |
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4.
Busses |
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5.
Trucks |
3 |
Owned |
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? |
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6.
Fork
Lifts |
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7.
Other |
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TOTAL VALUE OF
VEHICLES R 2 900 000
Head Office
Owned/ Rented |
Rented |
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Rental Company |
WIRE PRODUCTS PROPERTIES (PTY) LTD (group company) |
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Owned by |
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Value |
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Bond |
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Bank |
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Lease Agreement |
Annual |
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Lease Expire
Date |
Renew every year, no expiry |
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Type of Premises |
3 office blocks, 2 warehouses, large factory |
Trade References
|
Supplier |
Contact |
|
AFROX |
D-N-G |
|
CHEMIPLUS |
D-N-G |
|
WADEVILLE MICA |
011 9022680
(Diane) |
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AVIOCEAN |
011 9790060
(Leslie) |
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PREMIER FREIGHT |
D-N-G |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
7 years |
R40 000 |
R6 000 |
30 days |
R5-6 000 |
35 days by cheque |
Good |
|
2007 |
R1 500 |
R1 200 |
7/30 days |
R1 200 |
7/30 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 |
Standard Bank |
|
Branch |
Germiston Business Banking |
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Bank Account
Number |
020568673 |
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Type of Account |
Cheque |
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Branch Code |
011642 |
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Account Name |
Wire Products Stainless Steel (Pty) Ltd |
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Overdraft
Facilities |
Yes, Secured by Debtors |
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Date Opened |
27-01-1997 |
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Bank Code |
C |
|
Bank Comment |
The subject bankers consider them as equal to R100 000 in the
normal way of business. |
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
|
CURRENT ASSETS |
Declined as the MD, Mr C Roberts is away. |
|
Stock |
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Debtors |
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Cash on Hand |
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FIXED ASSETS |
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|
Plant,
Equipment, Vehicles |
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Property |
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CURRENT
LIABILITIES |
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Creditors
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Loans/
From? |
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LONG
TERM LIABILITIES |
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Morgage
Bonds |
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ANNUAL
/ MONTHLY Turnover |
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|
Previous Year
Turnover |
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Estimated
Current Year Turnover |
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Principals
|
Number of
Principals |
3 |
|
Average Age of
Active Principals |
48 |
Active Principals
Principal 1 of 3
|
Surname |
MARZORATI |
|
First Names |
EUGENIO |
|
Marital Status |
Married |
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Birth date |
620318 |
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Verified ID
Number |
No |
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Current Age |
49 |
|
Designation |
Director |
|
Status |
Active |
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Appointment Date |
2006-05-25 |
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Address (at time of
Appointment) |
Casa Borri Novazzano SWITZERLAND 0000 |
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 on record |
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Previous Business
Interests
|
Average Age of
Previous Business Interests |
None on Record |
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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. |
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Deeds Office |
|
Physical Address |
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Property Type |
|
Extent / Size |
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|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
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|
Bond Number |
|
Bond Amount |
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Principal 2 of 3
|
Surname |
VAN ECK |
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First Names |
HENDRICK JOHANNES |
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Marital Status |
Married |
|
ID Number |
5406085058081 |
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Verified ID
Number |
Yes |
|
Current Age |
57 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2001-03-12 |
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Address (at time of Appointment) |
Plap Street Falcon Ridge VEREENIGING 1939 |
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 on record |
|
|
|
|
Previous Business
Interests
|
Average Age of
Previous Business Interests |
None on Record |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
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 |
|
Principal 3 of 3
|
Surname |
ROBERTS |
|
First Names |
COLIN |
|
Marital Status |
Unmarried |
|
ID Number |
7312235081082 |
|
Verified ID
Number |
Yes |
|
Current Age |
38 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
1998-03-01 |
|
Address (at time of
Appointment) |
13 Wedgewood Green Sovereign Road BEDFORDVIEW 2008 |
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 |
|
WIRE PRODUCTS (PTY) LTD |
1995/012739/07 |
Deregistration
Final |
0 |
No |
|
WIRE PRODUCTS BRASS (PTY) LTD |
2001/023624/07 |
In Business |
0 |
No |
|
WPSS PROPERTIES (PTY) LTD |
2007/013210/07 |
Deregistration
Process |
0 |
No |
|
UNIT 13 WEDGEWOOD GREEN CC |
1995/043245/23 |
In Business |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
None on Record |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
|
Title Deed No. |
ST42109/2006 |
Erf/Site No. |
262,1 |
|
Deeds Office |
JOHANNESBURG |
Physical Address |
30 A ARBROATH, BEDFORDVIEW GERMISTON |
|
Property Type |
Sectional Title/ Unit |
Extent / Size |
226.0SQM |
|
Purchase Date |
2006-04-25 |
Purchase price |
421 905.00 |
|
% Ownership |
0.0000 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
0.0000 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.95 |
|
UK Pound |
1 |
Rs.72.12 |
|
Euro |
1 |
Rs.63.67 |
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.