|
Report Date : |
17.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
SPICE |
|
|
|
|
Registered Office : |
10 Induland Cresent Landsdowne 7780 |
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|
Country : |
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|
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Date of Incorporation : |
03.08.1994 |
|
|
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|
Com. Reg. No.: |
1994/023640/23 |
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|
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|
Legal Form : |
Close Corporation |
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|
|
|
Line of Business : |
Manufacture of spice and rice |
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|
|
|
No. of Employees : |
65-75 |
RATING & COMMENTS
|
MIRAs 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 March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Subject Name |
SPICE
MECCA CC |
|
Country |
South
Africa |
|
Requested Credit Limit |
US $ 1,50,00,000.00 |
|
Enquiry Terms |
D/A |
|
Account Review |
|
|
Subject Contact person |
MR
ANEEG ABRAHAMS |
|
Assessment |
On investigation we
made contact with the
subject and we were
referred to MR ANEEQ ABRAHAMS
whoprovided us with all information regarding the subject. The
subject appears to be a well-established business and subject is meeting payments
within terms with their suppliers. We
have obtained a bank code C for R300 000. Your
figure is considered as too high. Please
see the information on the subject below. |
|
Registered Name |
Spice Mecca CC |
|
Trading as/ Division Name |
Spice Mecca |
|
Previous Name |
None |
|
Date of Name Change |
None |
|
Registration Number |
1994/023640/23 |
|
Registration Date |
1994/08/03 |
|
Date Commenced Trading |
1994/08/03 |
|
Age of Business |
17 Years 8 Months |
|
History of Business |
Started as a new business |
|
History of Principals |
1 |
|
Shareholders and % holding |
100% -Mohammed Sheef Abas |
|
Authorised Share Capital |
R 1 |
|
Issued Share Capital |
R 1 |
|
Status |
In Business |
|
Operations Assessment |
Manufacture of spice and rice |
|
Industry/ Customers |
Retail Companies |
|
Export |
In the process |
|
Major Industry Code / SICC |
30499 |
|
Definition of Code |
Manufacture
of spices, condiments, vinegar, yeast, egg products, soups and other food products
n.e.c. |
|
Head Office Physical Address |
10 Induland Cresent LANDSDOWNE 7780 |
|
Head Office Postal Address |
PO.Box 24459 LANDSDOWNE |
|
Current Tel Number |
021 6921288 |
|
Cell number |
None |
|
Current Fax Number |
021 6921278 |
|
Current Email Address |
|
|
Web Site Address |
|
|
Company Registered Name |
IMBRAHIM ISIMLE AND ASSOCIATES |
|
Trading Name |
IMBRAHIM ISIMLE AND ASSOCIATES |
|
Registration Number |
3609120046052 |
|
Physical Address |
81 Darwing Road Cape Town |
|
Postal Address |
PO Box 534 Gatesville |
|
Contact Person |
Mr Isimail |
|
Contact Number |
0827752055 |
|
Email |
Dynamite786@vodamail.co.za |
|
Principals |
1 |
|
Judgements Against Subject |
None |
|
Judgements Against Principals |
None |
|
Subject Verified as Client |
Yes |
|
SAICA number |
Unavailable |
|
VAT Number |
4870121706 |
|
Tax Number |
Unavailable |
|
BEE Status |
None |
|
Financial Year End |
February |
|
Years With Auditors |
3 |
|
Website |
None |
|
Company Name |
Phone Number |
Time with previous auditors |
|
Unknown |
|
|
|
Vat Number |
4150154666 |
|
Status |
Active |
|
Vat Liable Date |
1995/10/01 |
|
Tax Number |
9740738035 |
|
Tax Clearance Expire Date |
December/02 |
|
Financial Year End |
February |
|
Status |
Yes |
|
Score |
Level 1 |
|
Expire Date |
Unavailable |
|
BEE Certificate Available |
Yes |
|
Type of ISO Grade |
None |
|
Registered |
Yes |
|
Compliance Certified |
Yes |
Subsidiaries
|
Subsidiary Company |
None |
|
Shareholding |
|
|
Registration Number |
|
|
Import / Export |
|
|
Number of
Employees |
65-75 |
|
1. Salaried
employees |
25 |
|
2. Waged
employees |
|
|
3. Permanent
employees |
90% |
|
4. Casual
employees |
10% |
|
5. Contracted
employees |
|
Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is made up of |
|
|||
|
1. Cars |
8 |
Owned |
500 000 |
|
|
2. Trucks |
2 |
Owned |
350 000 |
|
|
Offices |
|
Head Office Owned/ Rented |
Owned |
|
Value |
15 000 000 |
|
Type of Premises |
Offices and a Factory |
|
Branches Names |
Country |
Province |
|
None |
|
|
Branches Owned/ Rented |
None |
|
Level |
Position |
Name |
|
1 |
CEO |
MOHAMMED ABASS |
Note: One level up and
all levels down
|
Holding |
Company |
Sub |
|
100% -Mohammed
Sheef Abas |
SPICE MECCA CC |
None |
|
Company |
Value |
Contact |
|
None |
|
|
|
|
|
|
|
Trade Reference nr |
Supplier |
Contact |
|
1 |
African Ironed |
021 552
0615 |
|
2 |
Joy Pack |
021 511 6605 |
|
3 |
Exin Spice |
021 511 4009 |
|
4 |
AH
Grocer |
031 305
6010 |
Trade References Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
4 Years |
50000 |
52000 |
30 Days |
20000 - 40000 |
30 Days |
Okay |
|
2 |
10 Years |
100000 |
100000 |
30 Days |
Unavailable |
30 Days |
Excellent |
|
3 |
2 Months |
Unavailable |
Unavailable |
30 Days |
Unavailable |
30 Days |
|
|
4 |
20 Years |
Open |
300000 |
30 Days |
250 000 |
30 Days |
Excellent |
Judgements
|
Judgements |
None |
|
Possible
Judgements |
None |
|
Civil Court |
None |
|
RDs |
None |
Business Rescue
|
Date registered |
Business rescue practitioner |
Contact Information |
Details |
|
None |
|
|
|
Default Listings
|
Date |
Details |
|
None |
|
Notarial Bonds
|
Date |
Details |
|
None |
|
|
Bank |
STANDARD BANK |
|
Branch |
Kromboom |
|
Bank Account Number |
073312401 |
|
Type of Account |
Cheque |
|
Account Name |
Spice Mecca |
|
Overdraft Facilities |
Yes |
|
Date Opened |
Unavailable |
|
Bank Code |
|
|
Bank Comment |
The subject is considered as equal to its normal business engagements. |
Bank Codes History
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RDs |
RD amount |
RD Date |
Bank Comments |
Years with bank |
|
None |
|
|
|
|
|
|
|
Previous Bank Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
None |
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|
|
|
|
Property Interestsfor Company
|
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 |
|
Financial Estimates
|
CURRENT ASSETS |
Declined |
|
Morgage Bonds |
|
|
Previous Year Turnover |
24 000 000 |
|
Estimated Current Year Turnover |
26 000 000 |
|
Current Turnover per month |
|
|
Current Turnover per annum |
|
Please note the following:
|
Turnover and assets less than R 1,000,000.00 |
The subject falls within the National Credit Act |
|
Turnover and assets less than R 2,000,000.00 |
The subject falls within the Consumer Protection Act |
Principals
|
Number of Principals |
1 |
|
Average Age of Active Principals |
56 |
Active Principals
Principal 1 of 1:MOHAMED ABASS
|
Surname |
ABASS |
|
First Name |
MOHAMED |
|
Other Names |
None |
|
Marital Status |
Unavailable |
|
ID Number |
5612115017086 |
|
Verified ID Number |
Yes |
|
Current Age |
56 |
|
Designation |
Unavailable |
|
Status |
Active |
|
Appointment Date |
1994/08/03 |
|
Physical Address (at time of Appointment) |
16 Eden Road Walmer Estate 8001 |
|
Postal Address |
PO Box 24459 LANSDOWNE 7780 |
|
Current Tel Number |
0214474851/0216913838 |
|
Cell number |
0834570627 |
|
Current Fax Number |
Unavailable |
|
Current Email Address |
Unavailable |
|
Shareholding |
100.0000 |
Adverse Information for : MOHAMED ABASS
Judgement
|
Number of Judgements |
None |
Debt
Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information for: MOHAMED ABASS
Current
Business Interests
|
Company
Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
SPICE
MECCA CC |
1994/023640/23 |
In Business |
17 Years 8
Months |
0 |
No |
|
SPICE
MECCA PRE-PACKERS CC |
1996/022417/23 |
In Business |
15 Years11
Months |
0 |
No |
|
INTERNATIONAL
PEACE COLLEGE SOUTH AFRICA |
2006/003497/08 |
In Business |
6 Years 2 Months |
0 |
No |
|
SPICE
MECCA FOODS CC |
2009/213681/23 |
In Business |
2 Years 5 Months |
0 |
No |
|
SPICE
MECCA PROPERTIES (TWO)CC |
2009/219183/23 |
In Business |
2 Years 4 Months |
0 |
No |
|
SPICE
MECCA PROPERTIES (ONE) CC |
2009/219184/23 |
In Business |
2 Years 4 Months |
0 |
No |
|
SPICE
MECCA MANUFACTURING CC |
2009/219185/23 |
In Business |
2 Years 4 Months |
0 |
No |
|
WESTERN
CAPE FINE FOOD INITIATIVE |
M2010/023365/08 |
In Business |
1 Years 4 Months |
0 |
No |
Previous
Business Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
None |
|
|
|
|
|
Property
Interestsfor : MOHAMED ABASS
|
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.51.66 |
|
|
1 |
Rs.81.79 |
|
Euro |
1 |
Rs.67.18 |
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 SCs 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.