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MIRA
INFORM REPORT
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Report Date : |
03.06.2011 |
IDENTIFICATION DETAILS
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Name : |
ENRC MANAGEMENT (SOUTH AFRICA ) (PTY) LTD |
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Formerly Known As : |
EVENALL INVESTMENTS (PTY) LTD |
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Registered Office : |
107/108 E P Malan Road Cnr
Constantia Ave Pamona Estate Kempton Park P O Box 1580 Germiston 1400 |
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Country : |
South Africa |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
10.13.2009 |
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Com. Reg. No.: |
2009/019645/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Procurement and service providers to group mines in Africa, mainly
copper mines. |
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
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
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 |
Company Information
|
Registered
Name |
Enrc Management (South Africa ) (Pty) Ltd |
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Trading
as/ Division Name |
None |
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Previous Name |
Evenall Investments (Pty) Ltd |
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Date of Name
Change |
Formerly a shelf company, name changed last year. |
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Registration
Number |
2009/019645/07 |
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Registration
Date |
2009-10-13 |
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Date Commenced
Trading |
April/ May 2010 |
|
History of
Business |
The company was formed in 2010 to service the African mines in the
Enrc group. |
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Shareholders of
subject and % holding |
100% Eurasian Natural Resources Corporation PLC (ENRC) Listed on the
London Stock Exchange |
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Authorised Share
Capital |
Unknown |
|
Issued Share
Capital |
Unknown |
|
Age of Company |
Approx 1 year |
|
Status |
Active |
|
Industry/
Customers |
Mines in Africa under the Enrc group |
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Major Industry
Code |
88 Other business activities |
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Operations
Assessment |
Procurement and service providers to group
mines in Africa, mainly copper mines. |
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Head Office
Physical Address |
107/108 E P Malan Road Cnr Constantia Ave Pamona Estate Kempton Park |
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Head Office
Postal Address |
P O Box 1580 Germiston 1400 |
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Current Tel
Number |
011 5524300 |
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Current Fax
Number |
011 5524336 |
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Current Email
Address |
info@enrc.co.za |
Tax Information
|
Vat Number |
4030254884 |
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Vat Liable Date |
Monthly |
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Status |
Active |
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Tax Number |
9164999170 |
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Tax Clearance |
Yes |
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Tax Clearance
Expire Date |
December |
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Financial Year
End |
December |
Black Economic Empowerment
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Status |
Not compliant |
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Score |
N/A |
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Expire Date |
N/A |
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BEE Certificate
Available |
No |
ISO Status
|
Type
of ISO Grade |
It was stated by the company that the
holding company holds the international standards information. |
|
ISO
Certificate |
Unknown |
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ISO
Certificate Available |
Unknown |
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Certified
by an Accredited Agent |
Unknown |
Workman’s compensation
|
Registered |
Yes |
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Compliance
Certified |
Yes |
Company Structure
|
Branches |
1 admin office
in Illovo |
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Associated Companies |
The Group has a number of mining companies
situated in Zimbabwe, Zambia and the DRC. The main concentration is in
Kazakhstan with a total group employees of 72 000, 65 000 of which
are in Kazakhstan. |
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Shareholding |
All 100% By ENRC PLC |
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Import / Export |
Import supplies and export product. |
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Number of
Employees |
80 |
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1.
Salaried
employees |
80 |
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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 |
Minimal 6 |
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Fleet Operations |
Controlled
through the group |
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The Fleet is
made up of |
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1.
Cars |
6 |
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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, It was mentioned that the company will be purchasing the
premises in the near future. |
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Rental Company |
Unknown |
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Lease Agreement |
Unknown |
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Lease Expire
Date |
As the purchase is finalized, the lease will fall away. |
|
Type of Premises |
Office and storage |
Branches Owned/
Rented |
Leased |
|
Type of Premises |
Office |
Trade References
|
Supplier |
Tel |
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ITR Africa |
011 6140070/2 |
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Lauds Foundry |
011 8241238 |
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Tool Tech |
011 6831761 |
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Bridgestone |
011 923
7500 |
Trade References
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Age of Acc |
Credit Limit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 year |
R600 000 |
30 days |
R50 000- R600 000 |
30 days |
Good |
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Awaiting a |
Fax |
Reference |
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March 2010 |
R800 000 |
30 days |
R800 000 |
30 days |
Good |
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June 2010 |
R10 million |
30 days |
R7 700 000 |
Slow |
Problematic |
The last supplier says they are still owed money from Oct 2010,and they
are not settling the account fully
Adverse Information on Subject
|
Judgements |
None |
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Possible
Judgements |
None |
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Civil Court |
None |
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RDs |
None |
Default Data
|
Date |
Details |
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None |
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Notarial Bonds
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Date |
Details |
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None |
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Auditors Information
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Company
Registered Name |
Price Waterhouse Coopers Inc |
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Trading Name |
PWC |
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Registration
Number |
|
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Physical Address |
2 Eglin Road Sunninghill Gauteng |
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Postal Address |
P O Box 274 Cape Town 8000 |
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Contact Person |
Lara Frittella |
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Contact Number |
011 7974359 |
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Email |
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Directors/
Members/ Partners |
There are currently 25 partners in the subject |
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Judgements
Against Subject |
None |
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Judgements
Against Partners |
None on record |
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Subject Verified
as Client |
Yes |
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SAICA number |
Not available |
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VAT Number |
4070182128 |
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Tax Number |
9343032844 |
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BEE Status |
Compliant |
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Website |
www.pwc.co.za |
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Financial Year
End |
June |
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Years With
Auditors |
1 year |
Bank Information
|
Bank |
Standard Bank |
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Branch |
Sandton |
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Bank Account
Number |
Declined |
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Type of account |
Current |
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Branch Code |
Declined |
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Account Name |
Enrc Management (South Africa) (Pty) Ltd |
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Bank Code |
None, as no account number given |
Deeds Information
|
Property Interest |
|||
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Title Deed No. |
None |
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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Financial Information
Financial Estimates
Principals were reluctant to assist with financials however the annual
turnover was stated to be
R 500 000 000.
Please see attached consolidated financials on the group, Balance Sheet,
Income Statement and Cash Flow Statement.
Principals
|
Number of
Principals |
2 |
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Average Age of
Active Principals |
38 |
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Active Principals
Principal 1 of 2
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Surname |
Ehrensberger |
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First Names |
Beat |
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Birth Date |
710906 |
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Current Age |
39 |
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Designation |
Attorney |
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Status |
Active |
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Appointment Date |
2010-03-23 |
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Address (at time
of Appointment) |
43B Halden Street Uitkon 8142 |
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ID Verification |
No |
Adverse Information on Principal
Judgement
0 of 0
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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 |
|
Amalahele
Resources (Pty) Ltd |
2003/027680/07 |
In Business |
0 |
No |
|
Camecsa
(Pty) Ltd |
2004/033621/07 |
In Business |
0 |
No |
|
Zambezi
Coal (Pty) Ltd |
2005/011480/07 |
In Business |
0 |
No |
|
Magnolia
Ridge Properties 273 (Pty) Ltd |
2005/012697/07 |
Voluntary
Liquidation |
0 |
Yes |
|
Just
Wise Trading 31 (Pty) Ltd |
2010/010523/07 |
In Business |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
None |
Deeds Information
Property
Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
None |
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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Personal Information
Principal
2 of 2
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Surname |
Boyarov |
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First Names |
Evgeny |
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Birth Date |
740529 |
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Current Age |
37 |
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Designation |
Manager |
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Status |
Active |
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Appointment Date |
2009-10-13 |
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Address (at time
of appointment) |
30 Holbrook Hitchin Hertfordshire SG4 9QW United Kingdom |
|
ID Verification |
No |
Adverse Information on Principal
Judgement
1 of 1
|
Number
Of Judgements |
None |
Debt
Review
|
Debt review |
|
Other
|
Default data |
|
Business Information of Principal
Current
Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
Amalahele
Resources (Pty) Ltd |
2003/027680/07 |
In Business |
0 |
No |
|
Camecsa
(Pty) Ltd |
2004/033621/07 |
In Business |
0 |
No |
|
Zambezi
Coal (Pty) Ltd |
2005/011480/07 |
In Business |
0 |
No |
|
Magnolia
Ridge Properties 273 (Pty) Ltd |
2005/012697/07 |
Voluntary
Liquidation |
0 |
Yes |
Previous Business Interests
|
Average Age of
Previous Business Interests |
None |
Deeds Information
Property
Interests of Principal
|
Property Interest |
|||
|
Title Deed No. |
None |
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.94 |
|
|
1 |
Rs.73.46 |
|
Euro |
1 |
Rs.64.58 |
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 |
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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 |
|
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.