|
Report Date : |
17.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
PRO-SLIT CC |
|
|
|
|
Registered Office : |
61 Marshall Drive, Mount Edgecombe, Durban |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
24.08.1995 |
|
|
|
|
Com. Reg. No.: |
B1995/035334/23 |
|
|
|
|
Legal Form : |
Closed Corporation |
|
|
|
|
Line of Business : |
Paper film converting and diper manufacturing |
|
|
|
|
No. of Employees : |
120 employees |
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 |
|
|
|
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
South Africa - ECONOMIC OVERVIEW
south Africa is a middle-income, emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors; a stock exchange that is the 18th largest in the world; and modern infrastructure supporting a relatively efficient distribution of goods to major urban centers throughout the region. Growth was robust from 2004 to 2007 as South Africa reaped the benefits of macroeconomic stability and a global commodities boom but began to slow in the second half of 2007 due to an electricity crisis and the subsequent global financial crisis' impact on commodity prices and demand. GDP fell nearly 2% in 2009 but recovered in 2010-11. Unemployment remains high and outdated infrastructure has constrained growth. State power supplier Eskom encountered problems with aging plants and meeting electricity demand necessitating "load-shedding" cuts in 2007 and 2008 to residents and businesses in the major cities. Daunting economic problems remain from the apartheid era - especially poverty, lack of economic empowerment among the disadvantaged groups, and a shortage of public transportation. South Africa''s economic policy is fiscally conservative focusing on controlling inflation and attaining a budget surplus. The current government largely follows these prudent policies but must contend with the impact of the global crisis and is facing growing pressure from special interest groups to use state-owned enterprises to deliver basic services to low-income areas and to increase job growth.
|
Source : CIA |
|
Subject Name |
PRO-SLIT CC |
|
Country |
South Africa |
|
Subject Contact Person |
TONY - FINANCIAL MANAGER |
|
Assessment |
This is an established business. On investigation we made contact with the subject and we were referred to the Financial Manager MR. TONY who assisted with all the information for the subject. Regarding the trade references the subject only has 7 local suppliers however only 2 of the 7 assisted with trade references. A bank code C was obtained for an amount of R 1 000 000 over a period of 30 days. Please see the available information on the subject below. |
|
Registered Name |
PRO-SLIT CC |
|
Trading as/ Division Name |
PRO-SLIT |
|
Registration Number |
B1995/035334/23 |
|
Registration Date |
1995/08/24 |
|
Date Commenced Trading |
1995-08-24 |
|
Age of Business |
17 Years 4 Months |
|
History of Business |
The company started as a new business in 1995 |
|
History of Principals |
There are currently 3 active directors
within the company. |
|
Shareholders/Members/Partners of subject and % holding |
33.33 % - ANTHONY BRINKMAN, 33.33 % -
VERNON DOVE, 33.33 % - ANTHONY KING |
|
Authorised Share Capital |
R0.00 |
|
Issued Share Capital/Members Contribution |
R0.00 |
|
Status |
In Business |
|
Operations Assessment |
Paper film converting and diper manufacturing |
|
Industry/ Customers |
Printing companies and wholesalers |
|
Export |
Yes |
|
Import |
None |
|
Major Industry Code / SICC |
32399 |
|
Definition of Code |
Other paper products |
|
Head Office Physical Address |
61 Marshall Drive, Mount Edgecombe, DURBAN |
|
Head Office Postal Address |
PO Box 2380, COUNTRY CLUB, 4301 |
|
Current Tel Number |
0315022821 |
|
Current Fax Number |
0315022851 |
|
Current Email Address |
|
Company Registered Name |
Rl KENNEDY AND ASSOCIATES |
|
Registration Number |
96406095028083 |
|
Physical Address |
2 Wilford Court, 5 Millergrove, DURBAN |
|
Postal Address |
P 0 BOX 20708, DURBAN NORTH, 4016 |
|
Contact Person |
MICKY |
|
Contact Number |
0312407400 |
|
Email |
|
|
Subject Verified as Client |
Yes |
|
Practice Number |
269798N |
|
VAT Number |
4730174184 |
|
Financial Year End |
February |
|
No of years in Business |
Unknown |
|
Website |
Previous Auditors
|
Company
Name |
Phone
Number |
Time with
previous auditors |
Comment |
|
B W CRANSTON |
|
Unknown |
|
|
Vat Number |
4260152147 |
|
Status |
ACTIVE |
|
Vat Liable Date |
1995/09/01 |
|
Tax Number |
9041778201 |
|
Financial Year End |
February |
Black Economic
Empowerment Information - No Information on Record
ISO Information -
No Information on Record
|
Registered |
Yes |
|
Compliance Certified |
Yes |
Subsidiaries
|
Subsidiary Company |
BO IP AC LAMINATORS (PTY) LTD |
|||
|
Shareholding |
50 % - PRO SLIT CC, 50 % - STRAND GROUP HOLDINGS LTD |
|||
|
Registration Number |
2004/025289/07 |
|||
|
Employees |
||||
|
Number of Employees |
120 |
|||
|
1. Salaried employees |
120 |
|||
|
2. Waged employees |
-- |
|||
|
3. Permanent employees |
120 |
|||
|
Company Fleet |
||||
|
Company Fleet |
No of vehicles: |
Owned/Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is made up of |
5 |
|||
|
Comment |
|
|||
|
Light delivery Vehicles |
5 |
Owned |
R1000000.00 |
|
|
Offices |
Offices |
|
Head Office Owned/ Rented |
Leased |
|
Rental Company |
STRAND GROUP HOLDINGS |
|
Type of Premises |
Offices and factory |
|
Comment |
|
Branch Information - No Information on Record
Organisational Chart - No Information on Record
Company Structure (Ownership)
Note: One level
up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
33.3300% |
ANTHONY BRINKAAAN |
|
|
|
33.3300% |
VERNON DOVE |
|
|
|
33.3300% |
ANTHONY KING |
|
|
Key Deals - No Information on Record
|
Trade Reference
nr |
Supplier |
Contact |
Surety
Value |
Notarial Bonds |
Comment |
|
1 |
YAZI LOGISTICS |
0119408090 |
|
|
|
|
2 |
SOZO LOGISTICS |
0315695520 |
|
|
|
|
3 |
SAP PI |
0114078111 |
|
|
|
|
4 |
SILVER LOGISTICS |
0315695520 |
|
|
|
|
5 |
PACKRITE |
0217006747 |
|
|
|
|
6 |
LIFETECH |
0119758141 |
|
|
|
|
7 |
HANDCO |
0116172400 |
|
|
|
Trade References
Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
2 Years |
|
R 650000 |
30 Days |
R 350000 |
30 Days |
Excellent
Account -The subject does not have a credit limit |
|
2 |
5 Years |
R1000000.00 |
R 550000 |
30 Days |
R 400000 |
30 Days |
Good Account |
|
3 |
|
|
|
|
|
|
Against company
policy to provide trade references. |
|
4 |
|
|
|
|
|
|
Against company
policy to provide trade references. |
|
5 |
|
|
|
|
|
|
Against company
policy to provide trade references. |
|
6 |
|
|
|
|
|
|
Against company
policy to provide trade references. |
|
7 |
|
|
|
|
|
|
Against company
policy to provide trade references. |
Judgements - No information on record
Business Rescue - No Information on Record
Default Listing - No information on record
Notarial Bonds - No information on record
|
Bank |
NEDBANK |
|
Branch |
Business Kwazulu Natal |
|
Brach Code |
198765 |
|
Bank Account Number |
1648181562 |
|
Type of Account |
Current |
|
Account Name |
PRO SLIT CC |
|
Overdraft Facilities |
Yes |
|
Bank Code |
C - For R 1 000 000 |
|
Bank Comment |
The subject's bankers consider them good for all business normal
engagements. |
Bank Code History - No Information on Record
Previous Bank Account Information - No Information on Record
Deeds Information - No information on record
|
CURRENT ASSETS |
R 20000000.00 |
|
Stock |
R 9800000.00 |
|
Debtors |
R1000000.00 |
|
FIXED ASSETS |
R 2300000.00 |
|
Plant, Equipment, Vehicles |
R 3500000.00 |
|
CURRENT LIABILITIES |
R14000000.00 |
|
Previous Year Turnover |
R 57000000.00 |
|
Estimated Current Year Turnover |
R 60000000.00 |
|
Current Turnover per month |
R 75000000.00 |
|
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 |
|
Number of Principals |
3 |
|
Average Age of Active Principals |
47 |
Active Principals Principal - 1of 3 ANTHONY BRINKMAN
|
Surname |
BRINKMAN |
|
First Name |
ANTHONY |
|
Other Names |
None |
|
Marital Status |
Married |
|
ID Number |
6710155030081 |
|
Verified ID Number |
Yes |
|
Current Age |
45 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2004/11/30 |
|
Physical Address (at time of Appointment) |
2 CURLEWIS CLOSE, LA LUCIA, 4051 |
|
Postal Address |
PO BOX 25003, GATEWAY, 4321 |
|
Current Tel Number |
0315022821 |
|
Cell number |
0833950306 |
|
Shareholding/Membership |
33.3300 |
Principal's Adverse -
No information on record
Business Information
for ANTHONY BRINKMAN
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
HTB AGENCIES CC |
1999/006484/23 |
Deregistration Process |
13 Years 1 Months |
0 |
No |
|
|
PAISLEY PANELBEATERS CC |
B1990/015636/23 |
In Business |
22 Years 10 Months |
0 |
No |
|
|
PRO-SLIT CC |
B1995/035334/23 |
In Business |
17 Years 5 Months |
0 |
No |
|
|
DARK BLUE AAANUFACTURING CC |
B2005/016362/23 |
In Business |
7 Years 7 Months |
0 |
No |
|
|
BOIPAC LAMINATORS (PTY) LTD |
M2004/025289/07 |
In Business |
8 Years 8 Months |
0 |
No |
|
|
COLAAAX TRADING (PTY) LTD |
M2008/017563/07 |
In Business |
4 Years 4 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 3
Years
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
ERF 195 LA LUCIA PROPERTIES CC |
B2000/001075/23 |
Deregistration Final |
|
0 |
No |
|
|
COASTAL SELF ADHESIVE LAMINATES CC |
B2003/070231/23 |
Deregistration Final |
9 Years 9 Months |
0 |
No |
|
|
CAMBRIDGE FOOD KZN
(PTY) LTD |
M2000/025347/07 |
In Business |
|
0 |
No |
|
Principal's Deeds
Information - No information on record
Principal - 2of 3
VERNON DOVE
|
Surname |
DOVE |
|
First Name |
VERNON |
|
Other Names |
None |
|
Marital Status |
Married |
|
ID Number |
6308085136084 |
|
Verified ID Number |
Yes |
|
Current Age |
49 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2003/11/10 |
|
Physical Address (at time of Appointment) |
136 CHELMSFORD ROAD, GLENWOOD, 4001 |
|
Postal Address |
P O BOX 28334, MALVERN, 4055 |
|
Current Tel Number |
0314632544 |
|
Cell number |
0724049604 |
|
Shareholding/Membership |
33.3300 |
Principal's Adverse -
No information on record
Business Information
for VERNON DOVE
Principal Current
Business Interests
|
Company Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
PRO-SLIT CC |
B1995/035334/23 |
In Business |
17 Years 5 Months |
0 |
No |
|
|
BOIPAC LAMINATORS (PTY) LTD |
M2004/025289/07 |
In Business |
8 Years 8 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 15 Years
|
Company
Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
COMPUTER WORK CC |
B1985/005162/23 |
In Business |
27 Years 3 Months |
0 |
No |
|
|
PROFIBRE PRODUCTS CC |
B1990/026137/23 |
Conversion CO/CC orCC/CO |
22 Years 10 Months |
0 |
No |
|
|
SECRE 132 INVESTMENTS CC |
B1997/014436/23 |
Deregistration Final |
15 Years 3 Months |
0 |
No |
|
|
DAVIM INVESTMENTS CC |
B1999/049436/23 |
In Business |
13 Years 1 Months |
0 |
No |
|
|
COASTAL SELF ADHESIVE LAMINATES CC |
B2003/070231/23 |
Deregistration Final |
9 Years 9 Months |
0 |
No |
|
|
MIDNIGHT STAR TRADING 31 CC |
B2003/090082/23 |
Deregistration Final |
9 Years 9 Months |
0 |
No |
|
Principal's Deeds
Information - No information on record
Principal - 3of 3
ANTHONY KING
|
Surname |
KING |
|
First Name |
ANTHONY |
|
Other Names |
None |
|
Marital Status |
Divorced |
|
ID Number |
6302015197084 |
|
Verified ID Number |
Yes |
|
Current Age |
49 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
1995/08/24 |
|
Physical Address (at time of Appointment) |
1 KINGSWAY, 269 CURRIE ROAD, DURBAN, |
|
Postal Address |
1 KINGSWAY, 269 CURRIE ROAD, DURBAN, 4001 |
|
Current Tel Number |
0315022821 |
|
Shareholding/Membership |
33.3300 |
Principal's Adverse -
No information on record
Business Information
for ANTHONY KING
Principal Current
Business Interests
|
Company Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
PRO-SLIT CC |
B1995/035334/23 |
In Business |
17 Years 5 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 15 Years
|
Company
Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
COASTAL COATERS AND LAMI NATORS CC |
B1987/013912/23 |
Dissolved |
25 Years 1 Months |
0 |
No |
|
|
VOLEK STREET PROPERTIES CC |
B1988/002449/23 |
In Business |
|
0 |
No |
|
|
KINGSON INVESTMENTS CC |
B1991/018783/23 |
In Business |
21 Years 9 Months |
0 |
No |
|
|
RELEASE-IT CC |
B1993/023005/23 |
Voluntary Liquidation |
19 Years 7 Months |
0 |
Yes |
|
|
NO 1 KINGSROW 281 CURRIE ROAD DURBAN CC |
B2001/026051/23 |
Deregistration Final |
11 Years 11 Months |
0 |
No |
|
Principal's Deeds Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.87.78 |
|
Euro |
1 |
Rs.71.29 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.