MIRA INFORM REPORT

Report Date :

31.05.2011

IDENTIFICATION DETAILS

Name :	CONSULATION SUPPLIES (PTY) LTD

Formerly Known As :	ALTIVEX 585 (PTY) LTD

Registered Office :	14 Prema Park, 12 Engine Road, Montague Gardens, Cape Town, Western Cape

Country :	South Africa

Date of Incorporation :	30.07.2007

Com. Reg. No.:	2007/021360/07

Legal Form :	Private Company

Line of Business :	Importers and distributors of insulating material and conductors

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	No Complaints
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

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

NotE: Bottom of Form

(The information contained in this report, other than comment by outside authorities, has been voluntarily supplied by Officials of the subject):

COMPANY NAME

CONSULATION SUPPLIES (PTY) LTD

Formerly ALTIVEX 585 (PTY) LTD, the name having been changed on 10 September 2007.

PHYSICAL ADDRESS

14 Prema Park

12 Engine Road

Montague Gardens

Cape Town

Western Cape

POSTAL ADDRESS

Postnet Suite No 64

Private Bag X7

Chempet

7442

Telephone Number: 021 555 4562

Fax Number: 021 555 4583

SHAREHOLDERS

T R WATSON

A P KEARNEY

P FERREIRA

ASSOCIATE COMPANIES

None

DIRECTORS

T R WATSON ID No. 6305105128000

A P KEARNEY ID No. not available

P FERREIRA ID No. not available

BANKERS

STANDARD BANK, Edenvale branch. It was stated that the subject enjoys overdraft facilities secured by the personal guarantees of the Shareholders. Utilisation is stated to fluctuate.

DATE REGISTERED

30 July 2007

Registration Certificate Number: 2007/021360/07

It was stated by the respondent that the subject commenced trading in October 2007.

VAT NUMBER

4870241264

TAX NUMBER

9271476179

MAJOR OPERATION

Importers and distributors of insulating material and conductors.

MAJOR SUPPLIERS

The subject imports supplies and deals locally with:

UKUSA

ROTOMECH

D C WORT COMPOSITE

FREITAN

MAJOR CUSTOMERS OR BUSINESS SECTORS

Transformer manufacturers as well as armature winders.

AREA OF DISTRIBUTION AND SELLING

South Africa

EXPORTS

Occasionally to African Countries

TOTAL EMPLOYEES

OTHER PREMISES

It was stated that the subject has a branch in Johannesburg.

OWNED OR LEASED

The premises are reported to be leased

AUTHORISED SHARE CAPITAL

R1 000 divided into 1 000 ordinary shares of R1 each

ISSUED SHARE CAPITAL

R100

Full financial information was not forthcoming from respondents at the subject, however, it was stated that the annual turnover is in excess of R1 000 000.

AUDITORS

MAZARS

YEAR END

FEBRUARY

INSURANCE BROKERS

ETANA

TRADE REFERENCES

ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE

OPENED CREDIT CREDIT PATTERN

1. ±4 years undisclosed R100 000- 60 days 60 days Good

R500 000

2. 2007 R250 000 R 25 000- 30 days 30 days Good

R250 000

3. Sep 2010 R200 000 undisclosed Deals on a C.O.D basis as relatively new account

COMMENTS

This is a reasonably established business meeting its commitments as arranged. We have not traced dealings to an extent of US$1 000 000 and would prefer to see a far lesser amount well spread and secured.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.10
UK Pound	1	Rs.74.27
Euro	1	Rs.64.35

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.