MIRA INFORM REPORT

Report Date :

20.12.2012

IDENTIFICATION DETAILS

Name :	LAMP AC CC

Registered Office :	Unit 4 Riverdale Industrial Complex, 18 Dawnhill Road, Maxmead, Pinetown, 3610

Country :	South Africa

Date of Incorporation :	24.05.2001

Reg. No.:	2008/021774/23

Legal Form :	Closely Corporation

Line of Business :	Supplying Printed Flexible Packaging

No. of Employees :	50

RATING & COMMENTS

MIRA’s Rating :

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 30^th, 2012

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

South Africa

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 Unemployment remains high and outdated infrastructure has constrained growth.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	LAMP AC CC
Country	South Africa
Subject Contact Person	KIRSTY - ACCOUNTANT
Assessment	This is a well-established business. On investigation contact was made with the accountant KIRSTY of the subject. LAMP AC CC trading as PACKAGING WORLD has been in operation for 11 years. The subject is meeting its commitments timeously with it's suppliers, the highest credit limit granted is R1 000 000 over 30 days. A bank code C was obtained for an enquiry amount of R 100 000 over 30 days. No adverse information was revealed during the investigation. Please see the information obtained below.

Auditor Information

Company Registered Name	BRAND VAN NIEKERK & CO INCORPORATED
Trading Name	BRAND VAN NIEKERK & CO
Registration Number	M2007/017418/21
Physical Address	1 BLS House, 305 Che Guevara Road, Warwick, Durban, 4001
Postal Address	P 0 BOX 50525, MUSGRAVE ROAD, 4062
Contact Person	C WOODLEY
Contact Number	0312013171
Email	info@swaby.co.za
Principals	2
Judgements Against Subject	No information found on file
Judgements Against Principals	No information found on file
Subject Verified as Client	Yes
Practice Number	901296
VAT Number	4170241865
Tax Number	9269470168
BEE Status	Undisclosed
Financial Year End	February
No of years in Business	Unknown
Website	5 Years 6 Months
Comment

Previous Auditors

Company Name	Phone Number	Time with previous auditors	Comment
SWABY STONE		Unknown

Tax information

Vat Number	4110198274
Status	ACTIVE
Vat Liable Date	2002/04/01
Tax Number	9113249149
Tax Clearance Expire Date
Financial Year End	February
Comment
Black Economic Empowerment
Status	Yes
Score	1.00
Expire Date
BEE Certificate Available
Comment	The latest BEE certificate will be forwarded at a later stage
ISO Status
Type of ISO Grade	GLOBAL STANDARD FOR PACKING AND PACKAGING MATERIALS
ISO Certificate	Yes
ISO Certificate Available	Yes
Certified by an Accredited Agent	Yes
Comment
Workman's compensation
Registered	Yes
Compliance Certified	Yes
Comment

Company Structure

Subsidiaries Information - No Information on Record

Employees
Number of Employees	50
1. Salaried employees	50
2. Waged employees	0
3. Permanent employees	0
4. Casual employees	0
5. Contracted employees	0
Comment
Company Fleet
Company Fleet	No of vehicles:	Ownerd/Leased	Value	Outstanding Balance
Fleet Operations
The Fleet is made up of
Comment	THE AMOUNT OF LDVS WERE NOT DISCLOSED
Light delivery Vehicles

Offices

Offices	Offices
Head Office Owned/ Rented	Leased
Rental Company	Undisclosed
Owned by
Value
Bond
Bank
Lease Agreement
Lease Expire Date
Type of Premises	Office and a factory
Comment

Branch Information - No Information on Record

Management Overview

Organisation Chart

Level	Position	Name	Comment

1	AAANAGING MEMBER	DEAN GIANNI

Company Structure Information - No Information on Record

Note: One level up and all levels down

Key Deals - No Information on Record

Trade References

Trade Reference nr	Supplier	Contact	Surety Value	Notarial Bonds	Comment
1	SHARAF CARGO	0315661549
2	IMPORT PACKAGING	0317028763
3	FIMA FILMS SA (PTY) LTD	0117617500	R1000000.00		The account is secured for R1000 000 with Credit Guarantee

Trade References Detail

Nr	Age of Acc	Credit Limit	Max Credit	Terms	Average Purchases	Terms Taken	Comment
1	3 YEARS	R 600000.00	R 460000	30 DAYS	R 300000	30 DAYS	GOOD ACCOUNT
2	8 YEARS	R 250000.00	R150000	30 DAYS	R 50000	30 DAYS	GOOD ACCOUNT
3	10 years	R1000000.00	R 200000	30 days	R 70000	30 days	The subject receives a settlement discount of 1%

Adverse Information on Subject

Judgements

Judgements	None
Possible Judgements	None
Civil Court	None
RDs	None
Comment	No Information on Record

BusinessRescue - No Information on Record

Default Listing - No information on record

Notarial Bonds - No information on record

Bank Information

Bank	STANDARD BANK
Branch	PINETOWN
Brach Code	051001
Bank Account Number	250302683
Type of Account	CHEQUE
Account Name	LAMP AC CC trading as PACKAGING WORLD
Overdraft Facilities	The concern has an overdraft facility, further details were not made available
Bank Code	C
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

Financial Information

Financial Estimates

CURRENT ASSETS
Stock
Debtors
FIXED ASSETS
Plant, Equipment, Vehicles
Property
CURRENT LIABILITIES
Creditors
Loans/ From?
Loan Details
LONG TERM LIABILITIES
Morgage Bonds
Previous Year Turnover
Estimated Current Year Turnover
Current Turnover per month
Current Turnover per annum	R 32000000.00
Comment	The concern expects a similiar turn over for the next financial year end

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	45
Active Principals Principal - 1of 1 DEAN GIANNI
Surname	GIANNI
First Name	DEAN
Other Names	None
Marital Status	Single
ID Number	6702105124080
Verified ID Number	Yes
Current Age	45
Designation	BUSINESSMAN
Status	Active
Appointment Date	2008/02/04
Physical Address (at time of Appointment)	13A BELLEVUE ROAD, KLOOF, 3610
Postal Address	P 0 BOX 10210, ASHWOOD, 3605
Current Tel Number	0317086227
Cell number	0825587924
Shareholding/Membership	100.0000

Business Information forDEAN GIANNI

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
RD PACKAGING	6702105124080		Unknown	0	No
UNIT 4 RIVERDALE CC	B1996/025422/23	In Business	16 Years 4 Months	0	No
DACOR TRADING CC	B1998/040741/23	In Business	14 Years 2 Months	0	No
LAMP AC CC	B2001/033367/23	Conversion CO/CC or CC/CO	11 Years 11 Months	0	No
BLYTHWOOD PROPERTIES (PTY) LTD	M2005/039562/07	In Business	7 Years 7 Months	0	No

Principal's Deeds Information - No information on record

Average Age of Previous Business 15 years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
L W FURNITURE CONSULTANTS CC	B1996/040393/23	In Business	16 Years 4 Months	0	No
FLEXIBLE WORLD CC	B1996/056021/23	Provisional Liquidation	16 Years 4 Months	0	Yes
MAD SALES AND MANUFACTURING CC	B1996/056085/23	In Business	16 Years 4 Months	0	No
CORRO-DIE CUTTING SERVICES CC	B1998/027227/23	Deregistration Process	14 Years 2 Months	0	No
KAD PACKAGING CC	B1999/059434/23	Deregistration Final	13 Years 1 Months	0	No

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.84
UK Pound	1	Rs.89.11
Euro	1	Rs.72.46

INFORMATION DETAILS

Report Prepared by :

SDA

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

Registered Name	LAMP AC CC
Trading as/ Division Name	PACKAGING WORLD
Previous Name	None
Date of Name Change	None
Registration Number	2008/021774/23
Registration Date	2001/05/24
Date Commenced Trading	May 2001
Age of Business	11 Years 7 Months
History of Business	LAMPAC CC trading as PACKAGING WORLD was initially established in 2001 as a Close Corporation, registration number 2001 /033367/23 and later converted to a Private Company, registration number 2005/031826/07 and later reverted back to a Close Corporation.
History of Principals	There is one active member of the concern
Shareholders/Members/Partners of subject and % holding	100% - MR. DDG GIANNI
Authorised Share Capital	R 100.00
Issued Share Capital/Members Contribution	R0.00
Status	Active
Operations Assessment	The main operations of the concern is supplying printed flexible packaging
Industry/ Customers	Advertising and Graphic designers
Major Industry Code / SICC	32490
Head Office Physical Address	Unit 4 Riverdale Industrial Complex, 18 Dawnhill Road, Maxmead, Pinetown, 3610
Head Office Postal Address	PO Box 10210, ASHWOOD, 3605, South Africa
Current Tel Number	0317012248
Cell Number	0825587924
Current Fax Number	0317026804
Current Email Address	packaging@packagingwo rid. co. za
Web Site Address	www.packagingworld.co.za
Comments	Definition of SICC Code : Media, Advertising, Publishing, Printing and Packaging