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MIRA
INFORM REPORT
|
Report Date : |
31.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
UNICA IRON AND STEEL (PTY) LTD |
|
|
|
|
Registered Office : |
Stand 87 9th Street
Babaelegi Hammanskraal Pretoria |
|
|
|
|
Country : |
South Africa |
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|
|
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Date of Incorporation : |
19.05.2005 |
|
|
|
|
Com. Reg. No.: |
2005/019815/07 |
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|
|
|
Legal Form : |
Private Company |
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|
|
|
Line of Business : |
Manufacturers of steel |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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 – September 30, 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 an established company that imports
most of its supplies.
Local commitments have reached amounts up to R3 000 000.
There are no judgementsrecorded on the subject
or principals.
A bank code C was obtained for
R10 000 000 over 30 days.
The subject is considered as equal to your
amount secured and the lack of financial information should be noted.
Company Information
|
Registered
Name |
UNICA IRON AND STEEL (PTY) LTD |
|
Trading
as/ Division Name |
None |
|
Previous Name |
The subject was originally under a shelf company name. |
|
Date of Name
Change |
September 2006 |
|
Registration
Number |
2005/019815/07 |
|
Registration
Date |
2005-05-19 |
|
Date Commenced
Trading |
2006 |
|
History of
Business |
The business was originally a shelf company that was purchased by the
current shareholders and changed name in 2006. |
|
Shareholders/Members/Partners
of subject and % holding |
50% I HAQ 50% M QASIM |
|
Authorised Share
Capital |
R1000 |
|
Issued Share
Capital/Members Contribution |
R1000 |
|
Age of Company |
6 years 5 months |
|
Status |
In Business |
|
Operations
Assessment |
Manufacturers of steel |
|
Industry/ Customers |
Steel merchants |
|
Export |
None |
|
Major Industry
Code / SICC |
35310 Manufacturing |
|
Definition of
Code |
Casting of iron and steel |
|
Head Office
Physical Address |
Stand 87 9th Street BABAELEGI Hammanskraal PRETORIA |
|
Head Office Postal
Address |
P O Box 13753 LAUDIUM 0037 |
|
Current Tel
Number |
012 7199736 |
|
Current Fax
Number |
012 7199135 |
|
Current Email
Address |
|
|
Web Site Address |
Auditors Information
|
Company
Registered Name |
S AHMED ACCOUNTING SERVICES CC |
|
Trading Name |
S AHMED AND CO |
|
Registration Number |
2007/2090005/23 |
|
Physical Address |
Suite 101 Laudium Plaza Tangerine Street LAUDIUM Pretoria |
|
Postal Address |
PO Box 13200 LAUDIUM 0037 |
|
Contact Person |
S AHMED |
|
Contact Number |
012 3742191 |
|
Principals |
S AHMED D AHMED |
|
Judgements
Against Subject |
No |
|
Judgements
Against Principals |
Yes |
|
Subject Verified
as Client |
Yes |
|
SAICA number |
929719E |
|
VAT Number |
|
|
Tax Number |
9040402191 |
|
BEE Status |
|
|
Financial Year
End |
February |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
JANETTA ADRIANA SWANEPOEL |
Unknown |
Tax Information
|
Vat Number |
4950234304 |
|
Status |
Active |
|
Vat Liable Date |
Monthly |
|
Tax Number |
9113473160 |
|
Tax Clearance
Expire Date |
February, August |
|
Financial Year
End |
February |
Black Economic Empowerment
|
Status |
Yes |
|
Score |
Level 3 |
|
Expire Date |
Mid 2012 |
|
BEE Certificate
Available |
No |
ISO Status
|
Type of ISO
Grade |
None |
|
ISO Certificate |
|
|
ISO Certificate
Available |
|
|
Certified by
anAccredited Agent |
|
Workman’s compensation
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
Company Structure
|
Branches |
None |
|
Branches Names |
Country |
Province |
|
None |
|
|
|
Subsidiary
Company |
None |
|
Shareholding |
|
|
Registration
Number |
|
|
Import / Export |
|
|
Number of
Employees |
450 |
|
1.
Salaried
employees |
70 |
|
2.
Waged
employees |
380 |
|
3.
Permanent
employees |
|
|
4.
Casual
employees |
|
|
5.
Contracted
employees |
|
Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding
Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is
made up of |
10 |
|
|
|
|
1.
Cars |
10 |
Owned |
Not available |
None |
|
2.
Light
Delivery Vehicles |
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|
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|
3.
Trailers |
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|
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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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|
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|
Head
OfficeOwned/ Rented |
Rented |
|
Rental Company |
The SA Government |
|
Owned by |
|
|
Value |
|
|
Bond |
|
|
Bank |
|
|
Lease Agreement |
Ongoing |
|
Lease Expire
Date |
None- made an offer to purchase |
|
Type of Premises |
Factory, office and warehouse |
Trade References
|
Supplier |
Contact |
|
1)N N METALS |
012 8049676 |
|
2)NSA SHIPPING |
031 4615000 |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1)7 years |
None |
R5 000 000 |
30 days |
R3 000 000- R5 000 000 |
30 days |
Excellent |
|
2)Number |
Out |
Of |
Order |
|
|
|
Adverse Information on Subject
|
Judgements |
None |
|
Possible
Judgements |
None |
|
Civil Court |
None |
|
RDs |
None |
Default Data
|
Date |
Details |
|
None |
|
Notarial Bonds
|
Date |
Details |
|
None |
|
Deeds Information
|
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 |
|
Bank Information
|
Bank |
FIRST NATIONAL BANK |
|
Branch |
CENTURION |
|
Bank Account
Number |
62200429977 |
|
Type of Account |
Current |
|
Branch Code |
Unknown |
|
Account Name |
Unica Iron and Steel (Pty) Ltd |
|
Overdraft
Facilities |
Yes, to a limit of R11 000 000 for the group and secured buy
debtors and personal guarantees of the shareholders |
|
Bank Code |
C for R10 000 000 |
|
Bank Comment |
The subjects bankers consider them as equal to their normal business
engagements. |
Bank CodesHistory
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
|
None |
|
|
|
|
|
|
Previous Bank Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
None |
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|
|
|
|
Financial Information
Financial Estimates
|
CURRENT ASSETS |
Not available |
|
Stock |
Not available |
|
Debtors |
Not available |
|
Cash on Hand |
Not available |
|
FIXED ASSETS |
Not available |
|
Plant, Equipment,
Vehicles |
Not available |
|
Property |
Not available |
|
CURRENT
LIABILITIES |
Not available |
|
Creditors |
Not available |
|
Loans/ From? |
Not available |
|
LONG TERM
LIABILITIES |
Not available |
|
Morgage Bonds |
Not available |
|
ANNUAL / MONTHLY
Turnover |
R200 000 000 |
|
Previous Year
Turnover |
Not available |
|
Estimated
Current Year Turnover |
Not available |
Principals
|
Number of
Principals |
2 |
|
Average Age of
Active Principals |
43 |
Active Principals
Principal 1 of 2
|
Surname |
HAQ |
|
First Names |
IRSHADUL |
|
Marital Status |
Married |
|
ID Number |
6301156132082 |
|
Verified ID
Number |
Yes |
|
Current Age |
48 |
|
Designation |
Accountant |
|
Status |
Active |
|
Appointment Date |
2006-07-24 |
|
Address (at time
of Appointment) |
590 Elzine Street ERASMIA 0183 |
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 |
|
QURRATULAIN
TRADERS CC |
2001/000111/23 |
Deregistration
Process |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
12 years |
|
Company
Name |
Registration No |
Status |
Judgements |
Liquidation |
|
SIM
CARD CORPORATION CC |
1999/020278/23 |
Deregistration
Final |
0 |
No |
|
STONE
RIDGE COUNTRY ESTATE HOME OWNERS ASSOCIATION |
2004/006584/08 |
In Business |
0 |
No |
|
PINK
STAR TRADING 119 CC |
2005/001241/23 |
Deregistration
Final |
0 |
No |
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
T172940/2004 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
53 ANDESITE NORTH STONE RIDGE COUNTRY ESTATE |
|
Property Type |
Freehold/ Ervin |
Extent / Size |
811.0SQM |
|
Purchase Date |
2004-08-18 |
Purchase price |
R363000 |
|
% Ownership |
0.0000 |
Bond Holder |
STANDARD BANK |
|
Bond Number |
B1520472004 |
Bond Amount |
R326700 |
|
Property Interest |
|||
|
Title Deed No. |
T52829/2009 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
146 SANDSTONE RIDGE COUNTRY ESTATE CENTURION |
|
Property Type |
Freehold/ Ervin |
Extent / Size |
849.0SQM |
|
Purchase Date |
2009-06-03 |
Purchase price |
R1400000 |
|
% Ownership |
0.0000 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
R0 |
|
Property Interest |
|||
|
Title Deed No. |
T55715/2011 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
422 PEETR ERASMIA CENTURION |
|
Property Type |
Freehold/ Ervin |
Extent / Size |
1487.0SQM |
|
Purchase Date |
2011-05-16 |
Purchase price |
R850000 |
|
% Ownership |
0.0000 |
Bond Holder |
STANDARD BANK |
|
Bond Number |
B360742011 |
Bond Amount |
R500000 |
Principal 2 of 2
|
Surname |
QASIM |
|
First Names |
MOHAMMED |
|
Marital Status |
Married |
|
ID Number |
7202028336084 |
|
Verified ID
Number |
No |
|
Current Age |
39 |
|
Designation |
Businessman |
|
Status |
Active |
|
Appointment Date |
2006-07-24 |
|
Address (at time
of Appointment) |
13 Rupee Place ELDORAIGNE 0157 |
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 |
|
UNICA HOUSEWARE CC |
2005/019815/07 |
Deregistration
Process |
0 |
No |
Previous Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
NEXOR 864 CC |
2003/026173/23 |
In Business |
0 |
No |
|
SUMMERLANE
TRADING 321 CC |
2007/156207/23 |
Deregistration
Process |
0 |
No |
|
VISADEX TRADING
33 CC |
2008/241394/23 |
In Business |
0 |
No |
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
T147900/2006 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
30 BLESBUCK ELDORAIGNE CENTURION |
|
Property Type |
Freehold/ Ervin |
Extent / Size |
500.0SQM |
|
Purchase Date |
2006-09-10 |
Purchase price |
R1230000 |
|
% Ownership |
0.0000 |
Bond Holder |
STANDARD BANK |
|
Bond Number |
B1855982006 |
Bond Amount |
R1230000 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.82 |
|
|
1 |
Rs.78.57 |
|
Euro |
1 |
Rs.69.28 |
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.