MIRA INFORM REPORT

 

 

Report Date :           

31.05.2011

 

IDENTIFICATION DETAILS

 

Name :

TATA AFRICA STEEL PROCESSORS (PTY) LTD 

 

 

Registered Office :

39 Ferguson Road, Illovo, 2196

 

 

Country :

South Africa

 

 

Date of Incorporation :

10.09.2007

 

 

Com. Reg. No.:

2007/025725/07

 

 

Legal Form :

Private Company

 

 

Line of Business :

----

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Undetermined

 

 

Payment Behaviour :

----

 

 

Litigation :

----

 

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

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

COMPANY NAME

 

TATA AFRICA STEEL PROCESSORS (PTY) LTD

 

 

PHYSICAL ADDRESS    

 

29 Lincoln Road

Benoni

South Benoni

1501

 

 

POSTAL ADDRESS

 

P O Box 5143

Benoni South

1502

Telephone Number:     011 421 4000

Fax Number:                011 421 3000

 

On investigation contact was made with the Financial Manager who declined to assist with any information telephonically and requested that an e-mail questionnaire be forwarded, which was duly sent.  As soon as information is forthcoming, the same will be compiled and forwarded to our client.

 

Nevertheless, please see statutory information obtained from CIPC below:

 

 

COMPANY NAME

 

TATA AFRICA STEEL PROCESSORS (PTY) LTD

 

Formerly LEXSHELL 82 GENERAL TRADING (PTY) LTD, the name having been changed on 13 February 2008.

 

 

ADDRESSES ON CIPC

 

PHYSICAL ADDRESS: 

39 Ferguson Road

Illovo

2196

 

POSTAL ADDRESS:    

P O Box 55738

Northlands

2116

 

 

DIRECTORS

 

RAMAN DHAWAN

ID No. 4811075150181

Residential Address: 28A 3rd Street, Houghton 2198

Postal Address: P O Box 55738, Northlands 2116

Date Appointed: 7 February 2008

 

SANJAY PANDYA

D.O.B   620507

Residential Address: 16 Monza, 50 Coleraine Drive, Riverclub 2149

Postal Address: P O Box 55738, Northlands 2116

Date Appointed: 7 February 2008

 

 

DATE REGISTERED

 

10 September 2007

Registration Certificate Number: 2007/025725/07

 

 

AUTHORISED SHARE CAPITAL

 

R1 000 divided into 1 000 ordinary shares of R1 each

 

 

ISSUED SHARE CAPITAL

 

R100

 

 

AUDITORS

 

DELOITTE & TOUCHE (T KALAN)

Business Address: The Woodlands, 20 Woodlands Drive 2196

Postal Address:  Private Bag X6, Gallo Manor 2052

 

 

YEAR END

 

MARCH

 

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.