%20LTD%20-%20158804%2005-Nov-2011_files/image002.jpg){kind=small}
MIRA INFORM REPORT
|
Report Date : |
05.11.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
SWISS STONE MASONS (PTY) LTD |
|
|
|
|
Registered Office : |
853 North Coast Road, Redhill, Durban, Kwazulu Natal |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
27.06.2000 |
|
|
|
|
Com. Reg. No.: |
M2000/013315/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Importing, wholesaling
and retailing in natural stone,
slabs, tiles, monumental art, tombstones and cladding |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
South Africa |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Assessment:
This is a well established business, which converted from a sole
proprietorship in 2000.
Commitments are being met timeously.
Suppliers speak highly of the subject.
We were unable to obtain a bank code.
The subject is considered equal to its normal business engagements.
Company Information
|
Registered
Name |
SWISS STONE MASONS (PTY) LTD |
|
Trading
Divisions |
GRANITEC INTERNATIONAL GRANITE |
|
Registration
Number |
M2000/013315/07 |
|
Registration
Date |
2000-06-27 |
|
Date Commenced
Trading |
The subject as established as a sole
proprietorship in 1969. |
|
History of
Business |
The subject was originally commenced as a
sole proprietorship by H R KUGLER in 1969 |
|
Shareholders of
subject and % holding |
90%
R L BHOOLA 10%
B W SEIDL |
|
Authorised Share
Capital |
1 000 |
|
Issued Share
Capital |
100 |
|
Age of Company |
11 years 5 months |
|
Status |
Active |
|
Operations
Assessment |
Importing,
wholesaling and retailing in natural stone, slabs, tiles, monumental art,
tombstones and cladding. |
|
Industry/
Customers |
Durban
Municipality |
|
Area of
Distribution |
Mainly KwaZulu
Natal |
|
Export |
None |
|
Major Industry
Code / SICC |
62590 WHOLESALE RETAIL |
|
Definition of
Code |
Other retail
trade not in stores |
|
Head Office
Physical Address |
853 North Coast Road REDHILL Durban KwaZulu Natal |
|
Head Office
Postal Address |
P O Box 4156 DURBAN 4000 |
|
Current Tel
Number Cell number |
031 563 7317 / 563 9521 |
|
Current Fax
Number |
031 564 8947 |
|
Current Email
Address |
|
|
Web Site Address |
Auditors Information
|
Company
Registered Name |
DESAI BHAGAT AND JEENA |
|
Registration
Number |
Partnership |
|
Physical Address |
Suite 104 Lupin House 101 Stanley Copley Drive ASHERVILLE Durban |
|
Postal Address |
P O Box 37324 OVERPORT 4067 |
|
Contact Person |
Mr. J M Jeena |
|
Contact Number |
031 268 9800 |
|
Email |
|
|
Principals |
3 |
|
Practice Number |
919179E |
|
Financial Year
End |
February |
|
Years With
Auditors |
2 years |
|
Website |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
DOUGLAS DIX PEEK AND CO |
Unknown |
|
R RAMBOER AND CO |
4 years |
|
PAUL FOUCHE & CO |
5 years |
Tax Information
|
Vat Number |
4090192552 |
|
Status |
Active |
|
Vat Liable Date |
2001-03-01 |
|
Tax Number |
9027198143 |
|
Financial Year
End |
February |
Black Economic
Empowerment
|
Status |
Yes |
|
Score |
Level 3 |
|
Expire Date |
The BEE score has recently expired and the subject is in the process
of reapplying. |
|
BEE Certificate
Available |
No |
ISO Status
|
Type of ISO
Grade |
None |
|
ISO Certificate |
No |
|
ISO Certificate
Available |
No |
|
Certified by an
Accredited Agent |
No |
Workman’s
compensation
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
Company Structure
|
Branches |
The subject has
3 showrooms |
|
Address |
Telephone Number |
|
320 West Street DURBAN CITY
CENTRE |
031 304
7894 |
|
15 Dales Avenue PINETOWN |
031 702
1907 |
|
123 Carlisle
Street DURBAN CITY
CENTRE |
031 309
5043 |
|
Subsidiary
Company |
None |
|
Shareholding |
|
|
Registration
Number |
|
|
Import / Export |
|
|
Number of
Employees |
36 |
|
1.
Salaried
employees |
√ |
|
2.
Waged
employees |
√ |
Company Fleet |
No of vehicles: |
Owned/ Leased |
Outstanding
Balance |
|
Fleet Operations |
|
|
|
|
The Fleet is
made up of |
|
|
|
|
1.
Trucks |
2 |
Owned by the
subject |
Paid up |
|
2.
Fork
Lifts |
4 |
Owned by the subject |
Paid up |
Head
OfficeOwned/ Rented |
The heading premises are owned by an associated company. |
|
Owned by |
SQUASH FOUR INVESTMENTS (PTY) LTD |
|
Bond |
It was established that there are a small bond outstanding in favour of
STANDARD BANK. |
|
Type of Premises |
The premises comprise of administration, sales facilities and a
tombstone manufacturing facility. |
Branches Owned/
Rented |
It was stated that the showroom premises in Carlisle Street are leased
from the associated company, CITY HOSPITAL LTD, while the remainder of the
showrooms are leased from 3rd parties. |
Trade References
The subject imports from India, China and had also on a once off basis
imported from Italy.
|
Supplier |
Contact |
|
MICOR SHIPPING |
031 275
7300 |
|
MARBLE CLASSIC |
011 974
3588 |
|
D & B STEEL
DISTRIBUTORS |
031 569
4786 |
|
HILTI |
011 237
3000 |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1) |
Do |
Not |
Give |
Trade references |
|
|
|
2)2008 |
Open |
R1 000 000 |
30 |
R1 000 000 |
30 |
Excellent |
|
3)2 years |
|
R300 000 |
COD |
R300 000 |
COD |
Excellent |
|
4) Awaiting a fax |
|
|
|
|
|
|
Adverse
Information on Subject
|
Judgements |
No information on record |
|
Possible
Judgements |
No information on record |
|
Civil Court |
No information on record |
|
RDs |
No information on record |
Default Data
|
Date |
Details |
|
No information on record |
|
Notarial Bonds
|
Date |
Details |
|
No information on record |
|
Deeds Information
|
Property Interest |
|||
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|
|
|
|
|
|
|
|
|
|
|
|
|
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Property Type: |
No information on record |
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: |
|
Transfer ID: |
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|
Title Deed Number: |
|
Purchase Date: |
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|
Transfer Date: |
|
Erf Size: |
|
|
Sold Price: |
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|
|
Bank Information
|
Bank |
STANDARD BANK |
|
Branch |
Durban North |
|
Type of Account |
Current Account |
|
Account Name |
Swiss Stone Masons (Pty) Ltd |
|
Overdraft
Facilities |
The subject enjoys an unsecured overdraft facility. It was stated that the subject does not
utilize the overdraft facility as credit balances are normally maintained at
the bank. |
|
Bank |
The subject also deals with STATE BANK OF INDIA for import purposes. |
|
Branch |
115 Musgrave Road, Durban |
Bank CodesHistory
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
|
No information on record |
|
|
|
|
|
|
Previous Bank
Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
No information on record |
|
|
|
|
|
Financial Information
The respondent declined to assist with financial information telephonically and requested that an email request be forwarded. This was duly done. As soon as the relevant information is obtained, same will be forwarded.
Financial
Estimates
|
CURRENT ASSETS |
|
|
Stock |
|
|
Debtors |
|
|
Cash on Hand |
|
|
FIXED ASSETS |
|
|
Plant,
Equipment, Vehicles |
|
|
Property |
|
|
CURRENT
LIABILITIES |
|
|
Creditors |
|
|
Loans/ From? |
|
|
LONG TERM
LIABILITIES |
|
|
Morgage Bonds |
|
|
ANNUAL / MONTHLY
Turnover |
|
|
Previous Year
Turnover |
|
|
Estimated
Current Year Turnover |
|
Principals
|
Number of
Principals |
3 |
|
Average Age of
Active Principals |
54 |
Active Principals
Principal 1 of 3
|
Surname |
BHOOLA |
|
First Names |
JATIN |
|
Marital Status |
Unmarried |
|
ID Number |
8406175059089 |
|
Verified ID
Number |
YES |
|
Current Age |
27 |
|
Designation |
Director / businessman |
|
Status |
Active |
|
Appointment Date |
2009-09-30 |
|
Address (at time of
Appointment) |
1101 Manjee Centre 320 Grey Street DURBAN 4001 |
Adverse
Information on Principal
Judgement
|
Number of
Judgements |
No information on record |
Debt
Review
|
Debt review |
No information on record |
Other
|
Default data |
No information on record |
Business
Information on Principal
Current
Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
SWISS MOULDINGS
(PTY) LTD |
2009/011781/07 |
In business |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
9 years 1 month |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
ENERGY
SUPPLEMENT CC |
2002/090268/23 |
In business |
0 |
No |
Deeds Information
Property Interests of
Principle
|
Property Interest |
|||
|
Title Deed No. |
No information on record |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Principal 2 of 3
|
Surname |
SEIDL |
|
First Names |
BRUNO |
|
Marital Status |
Married |
|
ID Number |
4405125114188 |
|
Verified ID
Number |
Yes |
|
Current Age |
67 |
|
Designation |
Active |
|
Status |
Director / Architect |
|
Appointment Date |
2006-10-10 |
|
Address (at time
of Appointment) |
115 Waterkant Road Unit 1 OCEAN GARDENS Durban North 4051 |
Adverse
Information on Principal
Judgement
|
Number of
Judgements |
No information on record |
Debt Review
|
Debt review |
No information on record |
Other
|
Default data |
No information on record |
Business
Information on Principal
Current Business
Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
OCEAN VALUE
PROPERTIES (PTY) LTD |
M1990/006537/07 |
Deregistration
process |
0 |
No |
|
BRUNO SEIDL AND
ASSOCIATES CC |
B1995/054115/23 |
In business |
0 |
No |
|
MG ARCHITECTS
AND PROJECT MANAGERS CC |
B1998/001209/23 |
In business |
0 |
No |
|
SWISS MOULDINGS
(PTY) LTD |
K2009/011781/07 |
In business |
0 |
No |
|
BAVARIAN
BUTCHERY |
4405125114105 |
|
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
9 years 7 months |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
JULIET AND BRUNO
PROPERTIES (PTY) LTD |
M2002/009776/07 |
Deregistration
process |
0 |
No |
Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
|
Title Deed No. |
No information on record |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Principal 3 of 3
|
Surname |
BHOOLA |
|
First Names |
RAMESH |
|
Marital Status |
Married |
|
ID Number |
4307115145083 |
|
Verified ID
Number |
Yes |
|
Current Age |
68 |
|
Designation |
Medical Doctor |
|
Status |
Active |
|
Appointment Date |
2006-10-10 |
|
Address (at time
of Appointment) |
Flat 1101 Manjee Centre 320 Grey Street DURBAN 4001 |
Adverse
Information on Principal
Judgement
|
Number of
Judgements |
No information on record |
Debt Review
|
Debt review |
No information on record |
Other
|
Default data |
No information on record |
Business
Information on Principal
Current Business
Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
CITY HOSPITAL
LTD |
M1988/006502/06 |
In business |
0 |
No |
|
JMH PROPERTY
HOLDINGS (PTY) LTD |
M1993/000058/07 |
In business |
0 |
No |
|
MELROSE CLINIC
(PTY) LTD |
M1995/008308/07 |
In business |
0 |
No |
|
DABUR HEALTH CARE
S A (PTY) LTD |
M1997/00767/07 |
Deregistration
process |
0 |
No |
|
ISIZWE-PATH
(PTY) LTD |
M1999/019117/07 |
Deregistration
process |
0 |
No |
|
MAVRAS
INVESTMENTS (PTY) LTD |
M2001/006670/07 |
In business |
0 |
No |
|
GANDHI-MANDELA NURSING
ACADEMY (PTY) LTD |
M2003/027712/07 |
In business |
0 |
No |
|
SHERPA TRADE AND
INVEST 32 (PTY) LTD |
M2006/000470/07 |
In business |
0 |
No |
|
AMMO INVESTMENTS
CC |
B2008/182426/23 |
In business |
0 |
No |
|
SWISS MOULDINGS
(PTY) LTD |
K2009/011781/07 |
In business |
0 |
No |
|
PANCHGIRI TRUST
AND INV COMPANY (PTY) LTD |
M1973/008993/07 |
In business |
0 |
No |
|
PANCH KRUPA
SHARE BLOCK (PTY) LTD |
M1990/003542/07 |
In business |
0 |
No |
|
ISIPINGO
HOSPITAL INVESTMENTS LTD |
M1997/007966/06 |
In business |
0 |
No |
|
HOSTPROPS 1
(PTY) LTD |
M1999/001878/07 |
In business |
0 |
No |
|
COCO HAVEN 25
(PTY) LTD |
M2004/014056/07 |
In business |
0 |
No |
Previous Business
Interests
|
Average Age of Previous
Business Interests |
18 years 2 months |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
PARVATI
INVESTMENTS (PTY) LTD |
M1973/012543/07 |
Deregistration
final |
0 |
No |
|
MILAN HEIGHTS
INVESTMENTS (PTY) LTD |
M1978/002739/07 |
In business |
0 |
No |
|
WISHFUL THINKING
HOSPITALS LTD |
M1986/001147/06 |
Deregistration
final |
0 |
No |
|
HOSPITAL
ASSOCIATION OF SOUTH AFRICA |
M1988/001611/08 |
In business |
0 |
No |
|
LADYSMITH
HOSPITAL HOLDINGS (PTY) LTD |
M1992/003153/07 |
Deregistration
process |
0 |
No |
|
CHRONIMED
(NATAL) (PTY) LTD |
M1993/005125/07 |
In business |
0 |
No |
|
WIMBLEDON
INVESTMENTS (PTY) LTD |
M1995/008511/07 |
Deregistration
final |
0 |
No |
|
SEKUNJALO HEALTH
CARE LTD |
M1996/014461/06 |
In business |
0 |
No |
|
VENICO
INVESTMENTS CC |
B1998/026186/23 |
Deregistration final |
0 |
No |
|
DEEPICO
INVESTMENTS CC |
B1998/031634/23 |
Deregistration
final |
0 |
No |
|
TIRADEPROPS 1077
CC |
B1998/070275/23 |
Deregistration
final |
0 |
No |
|
CASCAINE
INVESTMENTS (PTY) LTD |
M2001/022623/07 |
Deregistration
final |
0 |
No |
|
VICTORY TICKET
249 CC |
B2003/108226/23 |
Deregistration
process |
0 |
No |
|
IMUNITI HOLDINGS
LTD |
M2004/002282/06 |
In business |
0 |
No |
Deeds Information
Property Interests
of Principle
|
Property Interest |
|||
|
Title Deed No. |
ST43286/2006 |
Erf/Site No. |
10724 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
45 Dr Yusuf Dadoo DURBAN CENTRAL Durban |
|
Property Type |
Sectional Title / Unit |
Extent / Size |
50.0sqm |
|
Purchase Date |
2006-07-19 |
Purchase price |
R172 000 |
|
% Ownership |
|
Bond Holder |
Moodley Shunmugam |
|
Bond Number |
I-80662003I |
Bond Amount |
R0 |
|
Property Interest |
|||
|
Title Deed No. |
ST22300/2007 |
Erf/Site No. |
3132,0 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
|
|
Property Type |
Sectional Title / Unit |
Extent / Size |
155.0sqm |
|
Purchase Date |
2005-06-17 |
Purchase price |
R3 958 200 |
|
% Ownership |
|
Bond Holder |
Standard Bank of South Africa ltd |
|
Bond Number |
SB264702007 |
Bond Amount |
R3 563 000 |
|
Property Interest |
|||
|
Title Deed No. |
ST46898/2009 |
Erf/Site No. |
12403,0 |
|
Deeds Office |
PIETERMARTIZBURG |
Physical Address |
263 Marine North Beach DURBAN |
|
Property Type |
Section Title / Unit |
Extent / Size |
77.0sqm |
|
Purchase Date |
2009-08-04 |
Purchase price |
R98 592 |
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
I-84712000C |
Bond Amount |
R0 |
|
Property Interest |
|||
|
Title Deed No. |
ST64541/2007 |
Erf/Site No. |
3132,0 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
|
|
Property Type |
Sectional Title / Unit |
Extent / Size |
74.0sqm |
|
Purchase Date |
2005-02-03 |
Purchase price |
R1 626 500 |
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
R0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.08 |
|
UK Pound |
1 |
Rs.78.65 |
|
Euro |
1 |
Rs.67.79 |
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.