MIRA INFORM REPORT
|
Report Date : |
25.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHAN’S GLOBAL TRAIDNG HOUSE CC |
|
|
|
|
Formerly Known As : |
WIMEX SA CC |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
26.05.2006 |
|
|
|
|
Com. Reg. No.: |
B2006/084481/23 |
|
|
|
|
Legal Form : |
Closed Corporation |
|
|
|
|
Line of Business : |
Trading in commodities, import and export |
|
|
|
|
No. of Employees
: |
01 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
---- |
NB |
New Business |
---- |
|
Status : |
New Company |
|
|
|
|
Payment
Behaviour : |
Unknown |
|
|
|
|
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 |
SHAN’S GLOBAL TRAIDNG HOUSE CC |
|
Country |
SOUTH AFRICA |
|
Requested Credit Limit |
MAX |
|
Enquiry Terms |
D/A |
|
Account Review |
|
|
Subject Contact person |
MR M PILLAY |
|
Assessment |
On investigation it was established that the subject has just recently begun trading when it took over operations of another business. The suppliers are too new to comment on this business. A bank code C was obtained for R300 000 over 30 days. In view of the infancy of the concern it is suggested we cannot support credit dealings unless fully secured or on an LC basis. |
|
Registered Name |
SHAN’S GLOBAL TRADING HOUSE CC The name change has not been finalised as yet and is reflecting as
WIMEX SA CC. on CIPC. |
|
Trading as/ Division Name |
None |
|
Previous Name |
WIMEX SA CC |
|
Date of Name Change |
2012 |
|
Registration Number |
B2006/084481/23 |
|
Registration Date |
2006-05-26 |
|
Date Commenced Trading |
2012 |
|
Age of Business |
5 years 11 months |
|
History of Business |
The subject has been taken over by new shareholders and incorporated the
operations and assets of a business called SHAN’S METAL BROKERS (PTY) LTD
which has ceased trading. |
|
History of Principals |
The main principal B PILLAY was the only principle in the previous
business SHAN’S METAL BROKERS (PTY) LTD |
|
Shareholders and % holding |
B PILLAY- majority MRS G PILLAY wife M PILLAY- no relation to above people |
|
Members contribution |
Unknown |
|
Status |
Active |
|
Operations Assessment |
Trading in commodities, import and export |
|
Industry/ Customers |
Various |
|
Export |
No |
|
Major Industry Code / SICC |
61901 |
|
Definition of Code |
General Wholesale Trade |
|
Head Office Physical Address |
Cnr Hooker Street and Kaolin Avenue CHLOORKOP Gauteng |
|
Head Office Postal Address |
P O Box 254 SUNNINGHILL 2157 |
|
Current Tel Number |
083 4496972/ 011 8278137 |
|
Cell number |
083 4496972 |
|
Current Fax Number |
None |
|
Current Email Address |
|
|
Web Site Address |
None as yet |
Auditors
Information
|
Company Registered Name |
V S LUTCHMAN |
|
Contact Number |
073 3342054- Unable to make contact |
|
Subject Verified as Client |
Unconfirmed |
Previous Auditors
|
Company Name |
Phone Number |
Time with previous auditors |
|
None |
|
|
|
Vat Number |
4130230628 |
|
Status |
Active |
|
Vat Liable Date |
Unknown |
|
Tax Number |
9341898154 |
|
Tax Clearance Expire Date |
February |
|
Financial Year End |
February |
|
Status |
No |
|
Score |
|
|
Expire Date |
|
|
BEE Certificate Available |
No |
|
Type of ISO Grade |
No |
|
ISO Certificate |
|
|
ISO Certificate Available |
|
|
Certified by an Accredited Agent |
|
|
Registered |
No |
|
Compliance Certified |
No |
Subsidiaries
|
Subsidiary Company |
No |
|
Shareholding |
|
|
Registration Number |
|
|
Import / Export |
|
|
Number of
Employees |
1 |
|
1. Salaried
employees |
|
|
2. Waged
employees |
|
|
3. Permanent
employees |
|
|
4. Casual
employees |
1 |
|
5. Contracted
employees |
|
Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is made up of |
None |
|||
|
1. Cars |
|
|
|
|
|
2. Light
Delivery Vehicles |
|
|
|
|
|
3. Trailers |
|
|
|
|
|
4. Busses |
|
|
|
|
|
5. Trucks |
|
|
|
|
|
6. Fork
Lifts |
|
|
|
|
|
7. Other |
|
|
|
|
|
Offices |
|
Head Office Owned/ Rented |
Owned |
|
Rental Company |
|
|
Owned by |
SHAN’S GLOBAL TRADING HOUSE |
|
Value |
|
|
Bond |
None |
|
Bank |
|
|
Lease Agreement |
|
|
Lease Expire Date |
|
|
Type of Premises |
Warehouse and office |
|
Branches Names |
Country |
Province |
|
None |
|
|
Branches Owned/ Rented |
None |
|
Rental Company |
|
|
Owned |
|
|
Value |
|
|
Bank |
|
|
Bond |
|
|
Lease Agreement |
|
|
Lease Expire Date |
|
|
Type of Premises |
|
Organisation chart
|
Level |
Position |
Name |
|
1 |
Main member |
B PILLAY |
Company Structure
(Ownership)
Note: One level up and
all levels down
|
Holding |
Company |
Sub |
|
B PILLAY- majority MRS G PILLAY M PILLAY |
SHAN’S GLOBAL TRADING HOUSE CC |
None |
Key
deals signed within the past 12 months.
|
Company |
Value |
Contact |
|
None |
|
|
|
Trade Reference nr |
Supplier |
Contact |
|
1 |
ARSCELLOR MITTAL
|
Flat steel
Vereeniging |
|
2 |
MEDITERRANEAN
SHIPPING |
Durban |
|
3 |
GRINDROD
INTERNATIONAL |
Johannesburg |
Trade References Detail
TOO NEW TO COMMENT, AS THE SUBEJCT HAS ONLY BEEN TRAIDNG FOR A FEW MONTHS.
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 |
RIVONIA |
|
Bank Account Number |
221508600 |
|
Type of Account |
Cheque |
|
Account Name |
SHAN’S GLOBAL TRADING HOUSE CC |
|
Overdraft Facilities |
Yes/No |
|
Bank Code |
C for R300 000 |
|
Bank Comment |
The subjects bankers consider them as equal to their normal business
engagements. |
Bank Codes History
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
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 |
|
|
|
|
|
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 |
|
|
Stock |
US$150 000 |
|
Debtors |
|
|
FIXED ASSETS |
|
|
Plant, Equipment, Vehicles |
|
|
Property |
|
|
CURRENT LIABILITIES |
|
|
Creditors |
|
|
Loans/ From? |
|
|
LONG TERM LIABILITIES |
|
|
Morgage Bonds |
|
|
Previous Year Turnover |
|
|
Estimated Current Year Turnover |
|
|
Current Turnover per month |
R2 000 000 at present |
|
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 |
3 |
Principal 1 of 3: BILARAM PILLAY
|
Surname |
PILLAY |
|
First Names |
BALARAM |
|
ID Number |
7603165179080 |
|
Verified ID
Number |
Yes |
|
Current Age |
35 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
S2007-04-27 |
|
Address (at time of
Appointment) |
79 Woodlands Estate Smuts Drive HALFWAY GARDENS Midrand |
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 |
|
POWER METAL
RECYLERS WADEVILLE)(PTY) LTD |
2007/012989/07 |
In Business |
0 |
No |
|
POWER METAL
RECYLERS (WYNBERG) (PTY) LTD |
2002/012100/07 |
In Business |
0 |
No |
|
INGWENTA WASTE
(PTY) LTD |
2007/012993/07 |
In Business |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
5 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
SHAN’S METAL
BROKERS (PTY) LTD |
2007/006922/07 |
In Business-
being Dissolved |
0 |
No |
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
T58563/2004 |
Erf/Site No. |
707,47 |
|
Deeds Office |
PRETORIA |
Physical Address |
HALFWAY GARDENS MIDRAND |
|
Property Type |
Sectional title/ Unit |
Extent / Size |
1560SQM |
|
Purchase Date |
2003-08-25 |
Purchase price |
R460000 |
|
% Ownership |
0.0000 |
Bond Holder |
Standard Bank |
|
Bond Number |
SB476742004 |
Bond Amount |
460000 |
|
Property Interest |
|||
|
Title Deed No. |
T71118/26 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
CARLSWALD MONRTHY ESTATGE |
|
Property Type |
Sectional title/ Unit |
Extent / Size |
575.0SQM |
|
Purchase Date |
2007-024 |
Purchase price |
R390000 |
|
% Ownership |
0.0000 |
Bond Holder |
Standard Bank |
|
Bond Number |
SB476742004 |
Bond Amount |
R316000 |
|
Property Interest |
|||
|
Title Deed No. |
T66422/2006 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
KYALARMI GARDENS MIDRAND GARDENS MIDRAND |
|
Property Type |
Sectional title/ Unit |
Extent / Size |
1560SQM |
|
Purchase Date |
2006-01-26 |
Purchase price |
R44 0000 |
|
% Ownership |
0.0000 |
Bond Holder |
Standard Bank |
|
Bond Number |
B44272006 |
Bond Amount |
4200 000 |
Principal 2 of 3: MPILLAY
|
Surname |
PILLAY |
|
First Names |
MRS M |
Principal 3 of 3: M PILLAY
|
Surname |
PILLAY |
|
First Names |
M |
Information on the other principals is not available as yet as CIPC has not updated records with the recent changes.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.79 |
|
UK Pound |
1 |
Rs.85.17 |
|
Euro |
1 |
Rs.69.53 |
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.