MIRA INFORM REPORT

Report Date :

07.06.2011

IDENTIFICATION DETAILS

Name :	A AND O FOOD INGREDIENTS (PTY) LTD
Registered Office :	37 Gateside Manor Broadachres Fourways Gauteng
Country :	South Africa
Date of Incorporation :	11.02.2010
Com. Reg. No.:	2010/003004/07
Legal Form :	Proprietary Limited Company
Line of Business :	Importing and wholesaling of raw food products.

RATING & COMMENTS

MIRA’s Rating :

NB

RATING		STATUS	PROPOSED CREDIT LINE
--	NB	New Business	--

Status :	New Company
Payment Behaviour :	Unknown
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 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
South Africa	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company Information

Registered Name	A and O Food Ingredients (Pty) Ltd
Trading as/ Division Name	Alfa and Omega Food Ingredients
Previous Name	None
Date of Name Change	N/A
Registration Number	2010/003004/07
Registration Date	2010-02-11
Date Commenced Trading	Beginning of 2010
History of Business	The business was formed as a new company. Mr G Tomazos has 16 years experience in this industry.
Shareholders of subject and % holding	50% Mr G Tomazos 50% Mrs N Tomazos (wife)
Authorised Share Capital	Nominal
Issued Share Capital	Nominal
Age of Company	1 year
Status	Active
Industry/ Customers	Food Wholesaers
Operations Assessment	Importing and wholesaling of raw food products.
Head Office Physical Address	37 Gateside Manor Broadachres Fourways Gauteng
Head Office Postal Address	P O Box 1420 Edenvale 1610
Current Tel Number	011 4693696
Current Fax Number	011 4693696
Current Email Address	georgeandnats@global.co.za

Tax Information

Vat Number	4640256154
Vat Liable Date	Unknown
Status	Active
Tax Number	None as yet

Black Economic Empowerment

Status

No

ISO Status

Type of ISO Grade

None

Workman’s compensation

Registered

Unknown, Mr Tomazos unavailable

Company Structure

Branches

0

Associated Companies

0

Number of Employees	4
1. Salaried employees	2
2. Waged employees
3. Permanent employees
4. Casual employees	2
5. Contracted employees

Company Fleet	2
Fleet Operations	For private and business use
The Fleet is made up of
1. Cars	2
2. Light Delivery Vehicles
3. Trailers
4. Busses
5. Trucks
6. Fork Lifts
7. Other

Head Office Owned/ Rented	Owned
Owned by	Mrs N Tomazos
Value	R2 000 000
Bank	Standard Bank
Bond	R50 000
Type of Premises	Home and office

Trade References

The subject is not a credit seeker locally and imports all products therefore only deals with a local clearing agent as follows:

Supplier	Contact
Jonen Freight	011 3961113

Age of Acc	Credit Limit	Terms	Average Purchases	Terms Taken	Comment
1 year+	Fluctuates, increasing	30 days	R200 000	30 days	Good

Adverse Information on Subject

Judgements	None
Possible Judgements	None
Civil Court	None
RDs	None

Default Data

Date	Details
None

Notarial Bonds

Date	Details
None

Auditors Information

Bookeepers Name	Mr Mervyn Julio
Trading Name	None
Registration Number	1998/033304/23
Physical Address	62 Viaticio Hornbill Road Douglasdale
Postal Address	P O Box 218 Douglasdale 2165
Director	Mr M Julio
Judgements against Subject	None
Judgemnet against Director	None
Verified as Client	Yes
Contact Person	Mervyn
Contact Number	0114628027
Email	mervynjay@iburst.co.za
Financial Year End	February
Years With Auditors	1 year

Bank Information

Bank	Standard Bank
Branch	Fourways Crossing/ Forex division at Randburg
Bank Account Number	281481059
Type of account	Current
Branch Code	009953
Account Name	A and O Food Ingredients Pty Ltd
Date Opened	Awaiting a bank code.
Bank Code
Bank Comment

Deeds Information

Property Interest 1 of 1
Property Type:	None	Stand Number:
Street Number:		Street Name:
Municipal Suburb:		Municipal City:
Township Name:		Province:
Deeds Office:		Transfer ID:
Title Deed Number:		Purchase Date:
Transfer Date:		Erf Size:
Sold Price:

Financial Information

Financial Estimates

The business was financed by the 2 owners and is still new nevertheless it was stated that the monthly turnover can fluctuate between R 700 000 and R 1 200 000.

The subject has a small asset holding and does not carry stack and products are imported and delivered directly to the client.

Principals

Number of Principals	2
Average Age of Active Principals	41

Active Principals

Principal 1 of 2

Surname	Tomazos
First Names	George
ID Number	6806025156088
Current Age	43
Designation	Director
Status	Active
Appointment Date	2010
Address (at time of Appointment)	37 Gateside Manor Broadachres Fourways
ID Verification	Yes
Marital Status	Married

Adverse Information on Principal

Judgement 0 of 0

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
Gama Marketing CC	1989/018582/23	In Business	0	No
Neptune Cooling (Pty) Ltd	1992/001270/07	Deregistration Final	0	No
N G S T Property’s (Pty) Ltd	2010/004505/07	In Business	0	No

Previous Business Interests

Average Age of Previous Business Interests

12 years

Company Name	Registration No	Status	Judgements	Liquidation
CJP Trading (PTY) Ltd	1998/021256/07	In Business	0	No
The Spice Pod (Pty) Ltd	2000/009480/07	In Business	0	No
Petrow Food Ingredients (Pty) Ltd	2000/009680/07	In Business	0	No

Deeds Information

Property Interests of Principle

Property Interest 1 of 2
Title Deed No.	ST 9684/2002	Erf/Site No.	2679
Deeds Office	Johannesburg	Physical Address	20 Jacqueline Northcliffe
Property Type	Sectional Title/ Unit	Extent / Size	72.0 SQM
Purchase Date	2001-11-30	Purchase price	178 000.00
% Ownership	0.0000	Bond Holder	Standard Bank
Bond Number	SB 52422002	Bond Amount	160 000.00
Property Interest 2 of 2
Title Deed No.	T66164/2002	Erf/Site No.
Deeds Office	Johannesburg	Physical Address	East Town Randburg
Property Type	Freehold/ Ervin	Extent / Size	248.0 SQM
Purchase Date	2002-05-23	Purchase price	846 000.00
% Ownership	0.0000	Bond Holder	Standard Bank
Bond Number	B415112002	Bond Amount	215 000.00

Personal Information

Principal 2 of 2

Surname	Tomazos
First Names	Natalie
ID Number	7205280031087
Current Age	39
Designation	Director
Status	Active
Appointment Date	2010
Address (at time of appointment)	37 Gateside Manor Broadachres Fourways Gauteng
ID Verification	Yes
Marital Status	Married

Adverse Information on Principal

Judgement 1 of 1

Number Of Judgements

None

Debt Review

Debt review

None

Other

Default data

None

Business Information of Principal

Current Business Interests

Company Name	Registration No	Status	Judgements	Liquidation
N G S T Properties (Pty) Ltd	2010/004505/07	In Business	0	No

Previous Business Interests

Average Age of Previous Business Interests

None

Deeds Information

Property Interests of Principal

Property Interest 1
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.44.72
UK Pound	1	Rs.73.46
Euro	1	Rs.65.47

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.