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MIRA INFORM REPORT
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Report Date : |
03.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
ENGINEERED THERMAL |
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Registered Office : |
109 Coleraine Drive, Riverclub, Sandton |
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Country : |
South Africa |
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Date of Incorporation : |
11.04.1994 |
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Com. Reg. No.: |
1994/002570/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Project Management, Engineering |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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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) |
|
South Africa |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
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 works on a project basis.
The subject can reach dealings of R1 000 000 over 30 days.
There are no adverse comments on the subject or principals.
In view of the irregular type of operation of the business it would be
suggested that all dealings be fully secured.
We are awaiting a bank code.
Company Information
|
Registered
Name |
ENGINEERED THERMAL SYSTEMS (PTY) LTD |
|
Trading
as/ Division Name |
None |
|
Previous Name |
None |
|
Date of Name
Change |
N/A |
|
Registration
Number |
1994/002570/07 |
|
Registration
Date |
1994-04-11 |
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Date Commenced
Trading |
1994 |
|
History of
Business |
The subject commenced as a new business in 1994 |
|
Shareholders of
subject and % holding |
50% A MOHABEER 50% A RAE |
|
Age of Company |
17 years 5 months |
|
Status |
In Business |
|
Operations
Assessment |
Project management, engineering |
|
Industry/
Customers |
General industry |
|
Export |
Zimbabwe, Dubai |
|
Major Industry
Code / SICC |
88211 Financial and Business |
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Definition of
Code |
Consulting engineering activities |
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Head Office
Physical Address |
109 Coleraine Drive RIVERCLUB SANDTON |
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Head Office
Postal Address |
P O Box 4298 RIVONIA 2128 |
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Current Tel
Number |
011 4638200 |
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Current Fax
Number |
011 7062486 |
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Current Email
Address |
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|
Web Site Address |
Auditors Information
|
Sole Proprietor
Name |
PAUL BOTES |
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Trading Name |
PJB CHARTERED ACCOUNTANTS |
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Start Date |
1998/1999 |
|
Physical Address |
1408 Collingham Close Highgate Village DAINFERN GOLF ESTATE Dainfern Gauteng |
|
Postal Address |
P O Box 77 WITKOPPEN 2068 |
|
Contact Person |
PAUL BOTES |
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Contact Number |
011 4690989 |
|
Email |
|
|
Principals |
1 |
|
Subject Verified
as Client |
Yes |
|
SAICA number |
263380 |
|
BEE Status |
None |
|
Financial Year
End |
February |
|
Years With
Auditors |
Old client |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
None |
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Tax Information
|
Vat Number |
4960143446 |
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Status |
Active |
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Vat Liable Date |
Monthly |
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Tax Number |
9181593840 |
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Tax Clearance
Expire Date |
December |
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Financial Year
End |
December |
Black Economic
Empowerment
|
Status |
Yes |
|
Score |
Level 4 |
|
Expire Date |
October 2011 |
|
BEE Certificate
Available |
Yes, attached |
ISO Status
|
Type of ISO
Grade |
None |
Workman’s
compensation
|
Registered |
Yes |
|
Compliance
Certified |
Yes, attached |
Company Structure
|
Branches |
None |
|
Subsidiary
Company |
None |
|
Shareholding |
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|
Registration
Number |
|
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Import / Export |
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Number of
Employees |
10 |
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1.
Salaried
employees |
10 |
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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 |
Included in the
10 |
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 |
5 |
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1.
Cars |
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2.
Light
Delivery Vehicles |
5 |
Owned |
R1 000 000 |
None |
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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 |
Rented |
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Rental Company |
PEARL STAR INVESTMENTS 94 CC involving MR RAE |
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Lease Agreement |
None |
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Lease Expire
Date |
None |
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Type of Premises |
House converted into office, business |
Trade References
|
Supplier |
Contact |
|
1)
INSTALLATION
AND CONSTRUCTION |
033 3861515 |
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2)
VIC |
016 4215040 |
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3)
COMBUSTION
GROUP |
011 4525060 |
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4)
GLOBAL
LOGISTICS |
011 |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1)Old |
None |
Fluctuates |
30 days |
Up to
R1 000 000 |
30 days |
Excellent |
|
2)Few years |
None |
Fluctuates |
30 days |
R300 000 |
30 days |
Excellent |
|
3)10 years |
R500 000 |
R500 000 |
30 days |
R100 000- R500 000 |
30 days |
Very Good |
Adverse Information
on Subject
|
Judgements |
None |
|
Possible
Judgements |
None |
|
Civil Court |
None |
|
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 |
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 |
STANDARD BANK |
|
Branch |
RIVONIA |
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Bank Account
Number |
420098453 |
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Type of Account |
Current |
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Branch Code |
001255 |
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Account Name |
ENGINEERED THERMAL SYSTEMS (PTY) LTD |
|
Overdraft
Facilities |
None |
|
Bank Code |
Awaiting a bank code |
|
Bank Comment |
|
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 |
|
None |
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Financial Information
Financial
Estimates
It was stated that the subject works on a project basis therefore
figures can fluctuate greatly.
|
ANNUAL Turnover |
R35 000 000 |
|
Previous Year
Turnover |
R23 000 000 |
|
Estimated
Current Year Turnover |
R35 000 000 |
Principals
|
Number of
Principals |
2 |
|
Average Age of
Active Principals |
50 years |
Active Principals
Principal 1 of 2
|
Surname |
MOHABEER |
|
First Names |
ARESH |
|
Marital Status |
Married |
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ID Number |
7305025149085 |
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Verified ID
Number |
Yes |
|
Current Age |
38 |
|
Designation |
Businessman |
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Status |
Active |
|
Appointment Date |
2005-05-01 |
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Address (at time of
Appointment) |
56 Bonne Vie Kyalami Hills Ext 3 MIDRAND 1684 |
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 |
|
EASY
ELECTRIC-KWAZULU NATAL CC |
1996/023835/23 |
In Business |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
7 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
BONNE VIE HOME
OWNERS’ ASSOCIATION |
2004/020155/08 |
In Business |
0 |
No |
Deeds Information
Property Interests of
Principle
|
Property Interest |
|||
|
Title Deed No. |
T14113/2005 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
KYALAMI HILLS MIDRAND |
|
Property Type |
Freehold/ Ervin |
Extent / Size |
408.0SQM |
|
Purchase Date |
2004-09-15 |
Purchase price |
R190000 |
|
% Ownership |
0.0000 |
Bond Holder |
NEDBANK LTD |
|
Bond Number |
B157502005 |
Bond Amount |
R900000 |
Principal 2 of 2
|
Surname |
RAE |
|
First Names |
ALEXANDER |
|
Marital Status |
Married |
|
ID Number |
4803025055081 |
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Verified ID
Number |
Yes |
|
Current Age |
63 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
1994-11-04 |
|
Address (at time
of Appointment) |
8 Marcal Crescent Edenglen Extension EDENVALE 1610 |
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 |
|
YELSEL
PROPERTIES CC |
2002/057460/23 |
In Business |
0 |
No |
|
PEARL STAR INVETSMENTS
94 CC |
2003/090795/23 |
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 Principle
|
Property Interest |
|||
|
Title Deed No. |
T14113/2005 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
KYALAMI HILLS MIDRAND |
|
Property Type |
Freehold/ Ervin |
Extent / Size |
408.0SQM |
|
Purchase Date |
2004-09-15 |
Purchase price |
R190000 |
|
% Ownership |
0.0000 |
Bond Holder |
NEDBANK LTD |
|
Bond Number |
B157502005 |
Bond Amount |
R900000 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.93 |
|
UK Pound |
1 |
Rs.76.52 |
|
Euro |
1 |
Rs.66.65 |
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.