MIRA INFORM REPORT
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Report Date : |
30.07.2011 |
IDENTIFICATION DETAILS
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Name : |
SAFETY MATCH TRADERS CC |
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Registered Office : |
81 Central Road, Fordsburg, Johannesburg, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
09.06.2006 |
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Com. Reg. No.: |
2006/094296/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
The importing and trading of safety matches. |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New Company |
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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 |
Assessment:
This is a very new business, dealings mainly on a C.O.D basis.
In view of the infancy of the subject, it is suggested that dealings be on
a letter of credit basis.
The subject’s bankers consider them good for normal business engagements
Company Information
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Registered
Name |
SAFETY MATCH TRADERS CC |
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Previous Name |
MISTY BLUE TRADING 402 CC |
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Date of Name
Change |
12 April 2007 |
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Registration
Number |
2006/094296/23 |
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Registration
Date |
9 June 2006 |
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Date Commenced
Trading |
January 2011 |
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History of
Business |
The subject was a shelf close corporation, which commenced active
operations in January 2011. |
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History of Principals |
It was stated that prior to becoming a member in the subject, MRS. A
MAYET assisted her husband in his business, SILVER RUBY TRADING 1056 CC –
registration certificate number:
2002/055599/23, which is currently dormant. |
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Members of subject
and % holding |
100% A MAYET It was stated that the subject is managed by the husband of the
member, SOHAIL SALEH MAYET (ID Number:
6610225002088) |
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Members
Contribution |
R100 |
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Age of Company |
7 months |
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Status |
Active |
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Operations Assessment |
The importing and trading of safety
matches. |
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Industry/
Customers |
The subject exports to distributor houses
such as LARGE DATA and INNSCORE in Zimbabwe. |
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Area of
distribution |
Zimbabwe |
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Major Industry
Code / SICC |
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Definition of
Code |
Other wholesale trade n.e.c. |
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Head
Office Physical Address |
81 Central Road FORDSBURG Johannesburg Gauteng |
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Head Office
Postal Address |
P O Box 639 CROWN MINES 2025 |
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Current Tel
Number Cell number |
011 836 3636 073 497 8071 |
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Current Fax
Number |
011 836 3637 |
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Current Email
Address |
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Web Site Address |
Auditors Information
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Company
Registered Name |
MONEY STYLE NETWORKS CC |
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Trading Name |
MONEY STYLE |
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Registration
Number |
2002/077260/23 |
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Physical Address |
1 Cressy Street KENSINGTON Randburg Gauteng 2020 |
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Postal Address |
P O Box 1498 HONEYDEW 2040 |
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Contact Person |
Bronwyn Baty |
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Contact Number |
082 3535 508 |
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Principals |
2 |
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Judgements
Against Subject |
None |
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Judgements
Against Principals |
None |
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Subject Verified
as Client |
Yes |
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Practice number |
22427 |
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VAT Number |
4090234537 |
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Tax Number |
9058238156 |
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BEE Status |
No |
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Financial Year
End |
February |
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Years With
Auditors |
7 months |
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Website |
Previous Auditors
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Company Name/ Tel |
Time With Previous Auditors |
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None |
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Tax Information
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Vat Number |
The subject does not quality for VAT. |
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Vat Liable Date |
Not applicable |
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Tax Number |
9459855152 |
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Import License
Number |
21022193 |
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Financial Year
End |
FEBRUARY |
Black Economic
Empowerment
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Status |
None |
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Score |
None |
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Expire Date |
None |
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BEE Certificate
Available |
None |
ISO Status
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Type of ISO Grade |
None |
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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 |
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 |
Only the member
and her husband |
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1.
Salaried
employees |
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2.
Waged
employees |
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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 |
None |
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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 |
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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 |
Leased |
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Rental Company |
MANGALLAM TRUST (PTY) LTD |
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Lease Agreement |
It was stated that the principle has no signed agreement with the land
lord as the lease is on an onoing agreement. |
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Type of Premises |
The heading premises is at the residential premises of the principle |
Trade References
The subject
imports from India and Pakistan and deals with all of its local suppliers on a
C.O.D. basis.
|
Supplier |
Contact |
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CMS / CGM
SHIPPING LINES |
031 319
1300 |
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SUN MARINE |
031 305
8032 |
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Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
2011 |
_ |
R70 000 |
C.O.D. |
R50 000 |
C.O.D. |
Very good |
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C.O.D. |
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C.O.D. |
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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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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
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Bank |
NEDBANK |
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Branch |
Fox Street |
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Bank Account
Number |
1001693752 |
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Type of account |
Current |
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Account Name |
SAFETY MATCH TRADERS CC |
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Date Opened |
14 October 2010 |
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Bank Code |
C |
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Bank Comment |
The subject’s bankers consider them good for all business normal
engagements |
SAFETY MATCH TRADERS CC also has an US$ account with NEDBANK, Fox Street, account number: 7710016499.
The principle, MRS. A MAYET, also banks with NEDBANK, Fox Street, account number: 1002070112.
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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The principle stated that they closed their account with STANDARD BANK
in 2009. |
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Financial Information
Financial
Estimates
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CURRENT ASSETS |
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Stock |
Back to back stock |
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Debtors (30
days) |
US$45 000 – US$100 000 |
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Cash on Hand |
Nil |
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FIXED ASSETS |
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Plant,
Equipment, Vehicles |
Nil |
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Property |
Nil |
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CURRENT
LIABILITIES |
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Creditors |
C.O.D. basis |
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Loans/ From? |
Nil |
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LONG TERM LIABILITIES |
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Morgage Bonds |
Nil |
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Estimated
Current Year Turnover (2012) |
R5 000 000 – R6 000 000 |
Principals
|
Number of Principals |
1 |
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Average Age of
Active Principals |
35 |
Active Principals
Principal 1 of 1
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Surname |
MAYET |
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First Names |
AFSHEEN |
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Marital Status |
Married in a religious ceremony |
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ID Number |
7612252346189 |
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Verified ID
Number |
Yes |
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Current Age |
35 |
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Designation |
Member |
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Status |
Active |
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Appointment Date |
2007-04-13 |
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Address (at time of
Appointment) |
Apartment 57 81 Mangallam Trust 81 Central Road FORDSBURG 0000 |
Adverse
Information on Principal
Judgement
|
Number of
Judgements |
No information on record |
Debt Review
|
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
|
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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The subject is managed by the husband of the principle. Please see below information:
|
Surname |
MAYET |
|
First Names |
SOHAIL, SALEH |
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Marital Status |
Married in a religious ceremony |
|
ID Number |
6610225002088 |
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Verified ID
Number |
Yes |
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Current Age |
45 |
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Designation |
Manager |
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 |
|
SILVER RUBY
TRADING 1056 CC |
2002/055599/23 |
Dormant |
0 |
No |
Previous Business
Interests
|
Average Age of Previous
Business Interests |
None |
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
No information on record |
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Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
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Title Deed No. |
No information on record |
Erf/Site No. |
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Deeds Office |
|
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.16 |
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UK Pound |
1 |
Rs.72.10 |
|
Euro |
1 |
Rs.63.10 |
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 |
|
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 |
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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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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---- |
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.