MIRA INFORM REPORT
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Report Date : |
07.06.2011 |
IDENTIFICATION DETAILS
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Name : |
INTO AFRICA AFRICAN WHOLESALERS CC |
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Formerly Known As : |
JMS Trading CC |
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Registered Office : |
Unit 16 Waverly Business Park, Wyecraft Road, Observatatory, Cape Town |
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Country : |
South Africa |
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Date of Incorporation : |
21.02.1990 |
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Com. Reg. No.: |
1990/006046/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Wholesaling of Ties and Scarfs |
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 |
Company Information
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Registered
Name |
Into Africa
African Wholesalers CC |
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Trading
as/ Division Name |
Into Africa |
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Previous Name |
JMS Trading CC |
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Date of Name
Change |
Approx 8 years ago |
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Registration
Number |
1990/006046/23 |
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Registration
Date |
1990-02-21 |
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Date Commenced
Trading |
1990 |
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History of
Business |
The subject began trading as a new business. |
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Shareholders of
subject and % holding |
R D Sim 100% member |
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Members
Contribution |
R100 |
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Age of Company |
21 years |
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Status |
Active |
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Industry/
Customers |
Retailers |
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Major Industry
Code |
06- Litho and screen print |
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Other Industry
Code |
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Operations
Assessment |
Wholesaling of Ties and Scarfs. |
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Head Office
Physical Address |
Unit 16 Waverly Business Park Wyecraft Road Observatatory Cape Town |
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Head Office
Postal Address |
P O Box 169 Newlands 7725 |
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Current Tel
Number |
021 4489111 |
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Current Fax
Number |
0214484899 |
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Current Email
Address |
Tax Information
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Vat Number |
4510137963 |
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Vat Liable Date |
Every second month |
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Status |
Active |
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Tax Number |
9410608039 |
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Tax Clearance |
Yes |
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Tax Clearance
Expire Date |
Unknown |
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Financial Year
End |
February |
Black Economic Empowerment
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Status |
Yes |
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Score |
Unknown |
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Expire Date |
Annually |
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BEE Certificate
Available |
Yes/No |
ISO Status
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Type
of ISO Grade |
Unknown |
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ISO
Certificate |
- |
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ISO
Certificate Available |
- |
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Certified by an Accredited Agent |
- |
Workman’s compensation
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Registered |
Yes |
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Compliance
Certified |
No |
Company Structure
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Branches |
0 |
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Associated
Companies |
Tie Stop CC |
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Shareholding |
100% Mr R D Sim |
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Registration
Number |
1993/009792/23 |
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Import / Export |
No |
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Number of
Employees |
18 |
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1.
Salaried
employees |
18 |
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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 |
2 |
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Fleet Operations |
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The Fleet is
made up of |
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1.
Cars |
1 |
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2.
Light
Delivery Vehicles |
1 |
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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 |
Owned by a group company, details declined. |
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Rental Company |
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Owned by |
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Value |
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Bank |
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Bond |
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Lease Agreement |
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Lease Expire
Date |
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Type of Premises |
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Trade References
The company stated that trade references are confidential and stated
that all products are imported
Adverse Information on Subject
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Judgements |
None |
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Possible
Judgements |
None |
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Civil Court |
None |
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RDs |
None |
Default Data
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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 |
R D Sim ( Chartered Account) |
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Trading Name |
None |
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Registration
Number |
None |
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Physical Address |
Unit 16 Waverly Business Park Wyecraft Road Observatatory Cape Town |
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Postal Address |
P O Box 169 Newlands 7725 |
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Contact Person |
Mr R D Sim |
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Contact Number |
021 4489111 |
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Financial Year
End |
February |
Previous Auditors
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Company Name/ Tel |
Time With Previous Auditors |
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None |
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Bank Information
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Bank |
Standard Bank |
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Branch |
Claremont |
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Bank Account
Number |
Declined |
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Type of account |
Current |
Deeds Information
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Property Interest 1 of 1 |
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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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Financial Information
All financials were not forthcoming and deemed confidential.
Principals
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Number of
Principals |
1 |
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Average
Age of Active Principals |
45 |
Active Principals
Principal 1 of 2
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Surname |
Sim |
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First Names |
Robert |
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ID Number |
6606075210086 |
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Current Age |
45 |
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Designation |
Member |
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Status |
Active |
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Appointment Date |
|
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Address
(at time of Appointment) |
5 Glen Avenue Higgovale Cape Town |
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ID Verification |
Yes |
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Marital Status |
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Adverse Information on Principal
Judgement 0 of 0
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Number of
Judgements |
None |
Debt Review
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Debt review |
None |
Other
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Default data |
None |
Business Information on Principal
Current Business
Interests
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
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Tie Stop ( Airports) CC |
1993/001886/23 |
In
Business |
0 |
No |
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Tie Stop Properties CC |
1996/025947/23 |
In
Business |
0 |
No |
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Tie Stop CC |
1993/009792/23 |
In
Business |
0 |
No |
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Nika Khumalo Investment Enterprises CC |
1990/006046/23 |
Deregistration
Process |
0 |
No |
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TSC Imbizo CC |
2001/014187/23 |
Deregistration
Process |
0 |
No |
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Five Ten Technologies CC |
2004/122143/23 |
Deregistration
Process |
0 |
No |
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Thomas and Benno Apparel CC |
2007/196330/23 |
In
Business |
0 |
No |
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Thomas and Benno Trading CC |
2008/139795/23 |
In
Business |
0 |
No |
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Me Jane Retailers CC |
2008/139868/23 |
In
Business |
0 |
No |
Previous Business Interests
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Average
Age of Previous Business Interests |
5.5 years |
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
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Unit 16 Glen Crescent Properties CC |
1997/069134/23 |
In
Business |
0 |
No |
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Pepper Street Properties CC |
1998/004300/23 |
In
Business |
0 |
No |
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Robert Daniel Trading CC |
2008/139825/23 |
In
Business |
0 |
No |
Deeds Information
Property Interests
of Principle
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Property Interest 1 |
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Title Deed No. |
T38087/2005 |
Erf/Site No. |
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Deeds Office |
Cape Town |
Physical Address |
5 Glen Gardens Cape Town |
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Property Type |
Freehold / Ervin |
Extent / Size |
1786.0 SQM |
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Purchase Date |
2005-01-14 |
Purchase price |
5 000 000.00 |
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% Ownership |
0.0000 |
Bond Holder |
Nedbank Ltd |
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Bond Number |
B533452005 |
Bond Amount |
3 000 000.00 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.72 |
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UK Pound |
1 |
Rs.73.46 |
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Euro |
1 |
Rs.65.47 |
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.