MIRA
INFORM REPORT
|
Report Date : |
01.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
VIROY SHOE COMPONENTS CC |
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Registered Office : |
41 Robert Street North End Port Elizabeth Eastern Cape |
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Country : |
South Africa |
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Date of Incorporation : |
23.04.1998 |
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Com. Reg. No.: |
1998/023288/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
Wholesale of shoe components. |
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 |
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Payment Behaviour : |
Unknown |
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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 |
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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 family business.
The subject imports and is meeting its local commitments
with suppliers within terms.
You figure is considered as too high.
A bank code E was obtained for R200 000,
amount too high.
The lack of financial information should be
borne in mind.
Company Information
|
Registered
Name |
VIROY SHOE COMPONENTS CC |
|
Trading
as/ Division Name |
BARGAIN WAREHOUSE VIROY LEATHER |
|
Previous Name |
None |
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Date of Name
Change |
N/A |
|
Registration
Number |
1998/023288/23 |
|
Registration
Date |
1998-04-23 |
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Date Commenced
Trading |
1998 |
|
History of
Business |
The subject commenced as a new business in 1998. |
|
Members of
subject and % holding |
25% MRS S RANCHOD, mother 25% MISS R RANCHOD, daughter 25% A RANCHOD, father 25% V RANCHOD, son |
|
Members
Contribution |
R100 |
|
Age of Company |
13 years 5 months |
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Status |
In Business |
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Operations
Assessment |
Wholesale of shoe components. |
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Industry/
Customers |
Manufacturers and repairers of shoes. |
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Export |
On occasion |
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Major Industry
Code / SICC |
31629 Manufacturing |
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Definition of Code |
Manufacture of other general goods of
leather and substitutes and saddlery. |
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Head Office
Physical Address |
41 Robert Street NORTH END Port Elizabeth Eastern Cape |
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Head Office
Postal Address |
P O Box 3403 NORTH END 6001 |
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Current Tel
Number |
041 4844087 |
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Current Fax
Number |
041 4845790 |
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Current Email
Address |
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Web Site Address |
Auditors Information
|
Company
Registered Name |
BARENDS KNIGHT |
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Physical Address |
2a Macadam Street NEWTON PARK PORT ELIZABETH |
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Contact Person |
LAURENCE |
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Contact Number |
072 8745545/ 041 3635316 |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
None |
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Tax Information
|
Vat Number |
4590174191 |
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Status |
Active |
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Vat Liable Date |
September 2011 (bi- monthly) |
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Tax Number |
9166007071 |
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Tax Clearance
Expire Date |
February |
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Financial Year
End |
February |
Black Economic Empowerment
|
Status |
None, however business is 100% black owned |
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Score |
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Expire Date |
|
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BEE Certificate
Available |
Yes/No |
ISO Status
|
Type of ISO
Grade |
None |
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ISO Certificate |
Yes/No |
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ISO Certificate
Available |
Yes/No |
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Certified by
anAccredited Agent |
Yes/No |
Workman’s compensation
|
Registered |
Yes |
|
Compliance
Certified |
No |
Company Structure
|
Branches |
None |
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Branches Names |
Country |
Province |
|
None |
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Number of
Employees |
6 |
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1.
Salaried
employees |
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2.
Waged
employees |
6 |
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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 |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding
Balance |
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Fleet Operations |
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The Fleet is
made up of |
4 |
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1.
Cars |
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2.
Light
Delivery Vehicles |
4 |
Owned |
Unknown |
All being paid
off to bank |
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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
OfficeOwned/ Rented |
Owned |
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Rental Company |
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Owned by |
By a group family company, further details were not forthcoming. |
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Value |
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Bond |
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Bank |
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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
|
Supplier |
Contact |
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1)
APECO |
031 7051668 |
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2)
HANNITAN |
011 8172150 |
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3)
JAS FORWARDING |
041 5811181 |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1)3 years |
Declined |
R20 000 |
60 days |
R10 000- R20 000 |
60 days |
Good |
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2)Left |
Messages |
However |
No |
Reply |
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3)10 years |
R50 000 |
Over R50 000 |
30 days |
R50 000 |
30 days |
Good |
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 |
|
None |
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Notarial Bonds
|
Date |
Details |
|
None |
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Deeds Information
|
Property Interest |
|||
|
Title Deed No. |
None on Record |
Erf/Site No. |
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Deeds Office |
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Physical Address |
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Property Type |
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Extent / Size |
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Purchase Date |
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Purchase price |
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% Ownership |
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Bond Holder |
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Bond Number |
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Bond Amount |
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Bank Information
|
Bank |
ABSA BANK, The subject also banks with Nedbank on a small basis |
|
Branch |
NORTH END |
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Bank Account
Number |
4053853410 |
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Type of Account |
Current |
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Account Name |
VIROY SHOE COMPONENTS CC |
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Bank Code |
E |
|
Bank Comment |
The subjects bankers consider an amount of R200 000 too high. |
Bank CodesHistory
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
|
None |
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Previous Bank Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
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None |
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Financial Information
Financial Estimates
|
ANNUAL Turnover |
R12 000 000 |
Principals
|
Number of
Principals |
4 |
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Average Age of
Active Principals |
61 |
Active Principals
Principal 1 of 4
|
Surname |
RANCHOD |
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First Names |
SHANTY |
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Marital Status |
Married |
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ID Number |
3601080089057 |
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Verified ID
Number |
Yes |
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Current Age |
75 |
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Designation |
Member |
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Status |
Active |
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Appointment Date |
Not on Record |
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Address (at time
of Appointment) |
19 Haworthia Drive Malabar PORT ELIZABETH 6020 |
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 |
|
None |
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Previous Business Interests
|
Average Age of Previous
Business Interests |
None |
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
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Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
None |
Erf/Site No. |
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Deeds Office |
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Physical Address |
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Property Type |
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Extent / Size |
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|
Purchase Date |
|
Purchase price |
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% Ownership |
|
Bond Holder |
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|
Bond Number |
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Bond Amount |
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Principal 2 of 4
|
Surname |
RANCHOD |
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First Names |
ROHINI |
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ID Number |
6209040222086 |
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Verified ID
Number |
Yes |
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Current Age |
49 |
|
Designation |
Member |
|
Status |
Active |
|
Appointment Date |
Not on Record |
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Address (at time
of Appointment) |
19 Haworthia Drive Malabar PORT ELIZABETH 6020 |
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 |
|
None |
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Previous Business Interests
|
Average Age of
Previous Business Interests |
3 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
RANVAR TRADING
CC |
2008/004694/23 |
Deregistration
Final |
0 |
No |
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
None |
Erf/Site No. |
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Deeds Office |
|
Physical Address |
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Property Type |
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Extent / Size |
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Purchase Date |
|
Purchase price |
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% Ownership |
|
Bond Holder |
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Bond Number |
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Bond Amount |
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Principal 3 of 4
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Surname |
RANCHOD |
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First Names |
VIRESH |
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ID Number |
7006305244089 |
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Verified ID
Number |
Yes |
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Current Age |
41 |
|
Designation |
Member |
|
Status |
Active |
|
Appointment Date |
Not on Record |
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Address (at time
of Appointment) |
19 Haworthia Drive Malabar PORT ELIZABETH 6020 |
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 |
|
None |
|
|
|
|
Previous Business Interests
|
Average Age of Previous
Business Interests |
3 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
RANVAR TRADING
CC |
2008/004694/23 |
Deregistration
Final |
0 |
No |
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
None |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
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|
Bond Number |
|
Bond Amount |
|
Principal 4 of 4
|
Surname |
RANCHOD |
|
First Names |
AMRUTLAL |
|
ID Number |
3212105115057 |
|
Verified ID
Number |
Yes |
|
Current Age |
79 |
|
Designation |
Member |
|
Status |
Active |
|
Appointment Date |
Not on Record |
|
Address (at time
of Appointment) |
19 Haworthia Drive Malabar PORT ELIZABETH 6020 |
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 |
|
None |
|
|
|
|
Previous Business Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
None |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.92 |
|
|
1 |
Rs.76.52 |
|
Euro |
1 |
Rs.66.64 |
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.