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MIRA INFORM
REPORT
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Report Date : |
28.06.2011 |
IDENTIFICATION DETAILS
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Name : |
MATELEC (PTY) LTD |
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Formerly Known As : |
BOUNDLESSTRADE 62 (PTY) LTD |
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Registered Office : |
43 Pentrich Road, Pietermaritzburg,
Kwazulu Natal |
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Country : |
South Africa |
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Date of Incorporation : |
27.11.1998 |
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Com. Reg. No.: |
1998/023715/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturing and distribution
of electrical components |
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RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
|
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) |
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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 an established business that recently changed its name.
The subject imports and is meeting its local payment timeously.
There are no judgements on the subject or principals.
The figure of USD1 000 000 is considered too high.
Company Information
|
Registered
Name |
MATELEC (PTY) LTD |
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Trading
as/ Division Name |
None |
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Previous Name |
BOUNDLESSTRADE 62 (PTY) LTD |
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Date of Name
Change |
2009-10-14 |
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Registration
Number |
1998/023715/07 |
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Registration
Date |
1998-11-27 |
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Date Commenced
Trading |
1998 |
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History of
Business |
The business was started as a new business in 1998. |
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Shareholders of
subject and % holding |
50.1% KASOUGHGA TRUST( Mr Yeats) 49.5% SACKETT TRUST ( Mr Leclezio) |
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Authorised Share
Capital |
R100 divided into R1 shares |
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Issued Share
Capital |
R100 |
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Age of Company |
12 years 7 months |
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Status |
Active |
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Industry/
Customers |
Wholesalers in
South Africa and internationally |
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Major Industry
Code /SICC |
36600 Manufacturing |
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Definition of
Code |
Manufacture of other electrical equipment |
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Operations
Assessment |
Manufacturing and distribution of
electrical components. |
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Head Office
Physical Address |
43 Pentrich Road PIETERMARITZBURG Kwazulu Natal |
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Head Office
Postal Address |
P O Box 2652 PIETERMARITZBURG 3200 |
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Current Tel
Number |
033 3460466 |
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Current Fax
Number |
033 3867036 |
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Current Email
Address |
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Website Address |
www.matelec.co.za |
Tax Information
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Vat Number |
4710178833 |
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Vat Liable Date |
Monthly |
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Status |
Active |
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Tax Number |
9434279841 |
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Tax Clearance |
Yes |
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Tax Clearance
Expire Date |
June 2012 |
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Financial Year
End |
June |
Black Economic Empowerment
|
Status |
In the process of scoring |
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Score |
|
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Expire Date |
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BEE Certificate
Available |
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ISO Status
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Type of ISO
Grade |
No |
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ISO Certificate |
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ISO Certificate
Available |
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Certified by an
Accredited Agent |
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Workman’s compensation
|
Registered |
Yes |
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Compliance
Certified |
Yes |
Company Structure
|
Branches |
1 |
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Branches Names |
Country |
Province |
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Cape Town
Warehouse |
SA |
Western Cape |
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Associated
Companies |
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 |
65 |
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1.
Salaried
employees |
65 |
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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 |
5 |
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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 |
5 |
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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 |
TIRADEPROPS 89 SHARE BLOCK (PTY) LTD |
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Owned by |
Same directors of the subject |
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Type of Premises |
Office and Factory |
Branches Owned/
Rented |
Owned ,same as above |
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Type of Premises |
Warehouse |
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Trade References
The company imports most of its supplies and only deals with the
clearing agents below on a credit basis.
|
Supplier |
Contact |
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DTB CARTAGE |
031 3377311 |
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KUEHNE AND NAGEL |
011 5747000 |
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Age of Acc |
Credit Limit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
Jan 2006 |
R1 000 000 |
30 days |
R100 000-
R200 000 |
30 days |
Very Good |
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Dormant |
Account |
Since |
January |
2011 |
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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
|
Date |
Details |
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None |
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Auditors Information
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Company Registered
Name |
PRICEWATERHOUSECOOPERS INC |
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Trading Name |
PWC |
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Registration
Number |
1998/012055/21 |
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Physical Address |
BlockC |
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Postal Address |
POBox13884 |
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Contact Person |
ROD |
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Contact Number |
033 3438600 |
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Directors/
Members/ Partners |
248 Principals |
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Judgements
Against Subject |
None |
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VAT Number |
4950174682 |
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Tax Number |
9346062844 |
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BEE Status |
Compliant |
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Website |
www.pwc.com |
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Financial Year
End |
June |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
BDO SPENCER STEWARD |
12 Years |
Bank Information
|
Bank |
NEDBANK |
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Branch |
Pietermaritzburg Commercial |
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Bank Account
Number |
Declined |
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Type of account |
Current |
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Bank Code |
None, account number was declined by the business |
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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Transfer Date: |
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Erf Size: |
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Sold Price: |
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Financial Information
Financial
Estimates
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CURRENT ASSETS |
All financials were declined by the respondent. |
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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 |
2 |
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Average Age of Active
Principals |
49 |
Active Principals
Principal 1 of 2
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Surname |
YEATS |
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First Names |
GAVIN |
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ID Number |
6306165179081 |
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Current Age |
48 |
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Designation |
Director |
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Status |
Active |
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Appointment Date |
2005-11-30 |
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Address (at time of Appointment) |
4 View Road PIETERMARITZBURG 3201 |
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ID Verification |
Yes |
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 |
|
THE WYKEHAM
COLLEGIATE |
1929/000902/08 |
In business |
0 |
No |
|
MARICO CHROME
CORPORATION (PTY) LTD |
1978/005144/07 |
In Business |
0 |
No |
|
NORMET
INVESTMENTS CC |
1985/001567/23 |
Conversion CO/CC
or CC/CO |
0 |
No |
|
CCW CATERING
(PTY) LTD |
1994/008207/07 |
Volunatry
Liquidation |
0 |
No |
|
SEGYEAT TRADING
(PTY) LTD |
1994/008348/07 |
Volunatry Liquidation |
0 |
No |
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PACK”D FASTENERS
CC |
1994/008569/23 |
In Business |
0 |
No |
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SPONONO CCW CC |
1994/028438/23 |
Deregistration
Final |
0 |
No |
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NOORDELIKE
SENTRALE KATOEN (PTY) LTD |
1995/008671/07 |
Deregistration
Process |
0 |
No |
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LOT 271 KULEKA
EMPANGENI SHARE BLOCKS (PTY) LTD |
1996/013428/07 |
Dissolved |
0 |
No |
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TIRADEPROPS 89
SHARE BLOCK (PTY) LTD |
1998/024577/07 |
In Business |
0 |
No |
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BUSHGOLF CC |
1998/056149/23 |
Deregistration
Process |
0 |
No |
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FDS CATERING (PTY)
LTD |
1999/001021/07 |
Conversion CO/CC
or CC/CO |
0 |
No |
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UTHUNGULU-COLUMBUS
FLOOR CARE (PTY) LTD |
2000/000079/07 |
Deregistration
Process |
0 |
No |
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FDS CATERING CC |
2000/025245/23 |
In Business |
0 |
No |
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VEREENIGING
REFRACTORIES (PTY) LTD |
2001/011123/07 |
In Business |
0 |
No |
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COURT BOND
SERVICES (PTY) LTD |
2002/003341/07 |
Deregistration
Final |
0 |
No |
|
AFRICA RESOURCES
COTTON COMPANY (PTY) LTD |
2004/003517/07 |
Deregistration
Process |
0 |
No |
|
GREAT LAKES
COTTON COMPANY (PTY) LTD |
2004/019617/07 |
In Business |
0 |
No |
|
VERREF SHARE
TRUST (PTY) LTD |
2005/039165/07 |
In Business |
0 |
No |
|
BLUE 8
DISTRIBUTION (PTY) LTD |
2006/004794/07 |
In Business |
0 |
No |
|
LA BAMBA
HOLDINGS 32 (PTY) LTD |
2007/031717/07 |
Deregistration Process |
0 |
No |
|
ROCKSTAR TRADING
30 (PTY) LTD |
2008/019006/07 |
Deregistration
Final |
0 |
No |
|
EUROCAPE
RENEWABLES (PTY) LTD |
2008/025303/07 |
In Business |
0 |
No |
|
BLACK GINGER 386
CC |
2010/025933/23 |
In Business |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
9 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
COLUMBUS
FLOORACRE (CAPE TOWN) (PTY) LTD |
1996/001106/07 |
Deregistration
Process |
0 |
No |
|
COLUMBUS
FLOORCARE (JOHANNESBURG) (PTY) LTD |
1996/00117/07 |
Deregistration
Process |
0 |
No |
|
COLUMBUS
FLOORCARE (DURBAN) (PTY) LTD |
1119/002609/07 |
Deregistration
Process |
0 |
No |
|
C C W CATERING
SUPPLIES (PTY) LTD |
1998/005155/07 |
In Business |
0 |
No |
|
CCW VENDING CC |
1998/021622/23 |
Deregistration
Final |
0 |
No |
|
BDO SPENCER
STEWARD (MIDLANDS) INC |
2004/009224/21 |
In Business |
0 |
No |
|
LOT 7550
MAHOGANY RIDGE CC |
2007/154263/23 |
In Business |
0 |
No |
|
COLUMBUS FLOORCARE
HOLDINGS CC |
2008/047240/23 |
In Business |
0 |
No |
|
INVESTAGE 42 CC |
2008/049687/23 |
In Business |
0 |
No |
Deeds Information
Property Interests of
Principle
|
Property Interest |
|||
|
Title Deed No. |
None |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
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Property Type |
|
Extent / Size |
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Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
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Personal Information
Principal 2 of 2
|
Surname |
LECLEZIO |
|
First Names |
MARIE |
|
ID Number |
6012275066081 |
|
Current Age |
51 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2005-11-30 |
|
Address (at time of
appointment) |
43 Pentrich Road PIETERMARITZBURG 3201 |
|
ID Verification |
Yes |
Adverse Information on Principal
Judgement
|
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 |
|||
|
BLUE 8
DISTRIBUTION (PTY) LTD |
2006/004794/07 |
In Business |
0 |
No |
|
||
|
TIRADEPROPS 89
SHARE BLOCK (PTY) LTD |
1998/024577/07 |
In Business |
0 |
No |
|
||
Previous Business Interests
|
Average Age of Previous
Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
Deeds Information
Property Interests of Principal
|
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 |
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% Ownership |
|
Bond Holder |
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|
Bond Number |
|
Bond Amount |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.10 |
|
UK Pound |
1 |
Rs.71.88 |
|
Euro |
1 |
Rs.63.75 |
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.