MIRA INFORM REPORT
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Report Date : |
07.02.2012 |
IDENTIFICATION DETAILS
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Name : |
LIZZARD WETSUITS CC |
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Registered Office : |
190 Stamford Hill Road , Durban, Greyville, Kwazulu Natal |
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Country : |
South Africa |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
08.09.1993 |
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Com. Reg. No.: |
1993/002061/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Manufacture diving suits, surfing suits and various neoprene thermal
products |
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No. of Employees
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57 |
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
$1 500 000 |
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Status : |
Satisfactory |
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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 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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South Africa |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company details
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Subject Name |
LIZZARD WETSUITS CC |
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Country |
SOUTH AFRICA |
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Requested Credit Limit |
$1 500 000 |
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Enquiry Terms |
D/A |
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Account Review |
6 MONTHS |
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Subject Contact person |
DEBBIE-031 3748400 |
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Assessment |
This is an established business, meeting its commitments timeously The subject received a bank code C for R100 000 over 30 days which
is also the maximum traced for the subject. |
Company Information
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Registered Name |
LIZZARD WETSUITS CC |
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Registration Number |
1993/002061/23 |
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Registration Date |
1993-09-08 |
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Date Commenced Trading |
1993-09-08 |
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Age of Business |
18 Years 5 Months |
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History of Business |
It’s an old business that’s been doing very well. |
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History of Principals |
COENRAAD CRONJE |
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Shareholders/Members/Partners of subject
and % holding |
100% COENRAAD CRONJE |
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Authorised Share Capital |
100 |
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Issued Share Capital/Members Contribution |
100% |
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Status |
This Business is Active |
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Operations Assessment |
Manufacture diving suits, surfing suits
and various neoprene thermal products. |
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Industry/ Customers |
03-Manufacturing |
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Export |
None |
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Major Industry Code / SICC |
3121 |
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Definition of Code |
Manufacture of made-up
textile articles, except apparel |
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Head Office Physical Address |
190 Stamford hill road Durban Greyville KWAZULU NATAL |
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Head Office Postal Address |
PO Box 47723 GREYVILLE 4016 |
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Current Tel Number |
031 3748400 |
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Cell number |
083 7770526 |
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Current Fax Number |
031 3037100 |
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Current Email Address |
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Web Site Address |
Auditors
Information
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Company Registered Name |
RI KENNEDY AND ASSOCIATES |
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Trading Name |
None |
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Registration Number |
Not Available |
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Physical Address |
21 Wolford Court 5 Miller Growth DURBAN 4001 |
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Postal Address |
PO Box 20708 DURBAN NORTH 4016 |
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Contact Person |
Ryan |
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Contact Number |
031 2407415 |
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Email |
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Principals |
1 |
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Judgements Against Subject |
None |
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Judgements Against Principals |
None |
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Subject Verified as Client |
Yes |
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SAICA number |
00269798 |
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VAT Number |
4730174184 |
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Tax Number |
None |
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BEE Status |
None |
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Financial Year End |
February |
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Years With Auditors |
5 Years |
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Website |
Previous Auditors
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Company Name |
Phone Number |
Time with previous auditors |
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BS ZIETSMAN |
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Unknown |
Tax Information
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Vat Number |
4850137268 |
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Status |
Active |
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Vat Liable Date |
1993-03-01 |
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Tax Number |
964132202 |
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Tax Clearance Expire Date |
30 November 2012 |
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Financial Year End |
June |
Black Economic Empowerment
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Status |
None |
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Score |
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Expire Date |
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BEE Certificate Available |
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ISO Status
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Type of ISO Grade |
None |
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ISO Certificate |
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ISO Certificate Available |
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Certified by an Accredited Agent |
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Workman’s compensation
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Registered |
Yes |
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Compliance Certified |
Yes |
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Certified Number |
05797961050 |
Company Structure
Subsidiaries
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Subsidiary Company |
None |
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Shareholding |
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Registration Number |
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Import / Export |
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Subsidiary Company |
None |
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Shareholding |
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Registration Number |
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Import / Export |
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Number of
Employees |
57 |
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1. Salaried
employees |
57 |
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2. Waged
employees |
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3. Permanent
employees |
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4. Casual
employees |
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5. Contracted
employees |
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Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding Balance |
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Fleet Operations |
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The Fleet is made up of |
None |
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1. Cars |
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2. Light
Delivery Vehicles |
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3. Trailers |
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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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Offices |
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Head Office Owned/ Rented |
Rent |
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Rental Company |
BUNDUBAND ADVENTURE EQUIPMENT CC |
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Owned by |
None |
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Value |
None |
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Bond |
None |
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Bank |
None |
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Lease Agreement |
The building is owned by the principal there’s no lease, they pay
monthly rent. |
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Lease Expire Date |
Annual |
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Type of Premises |
Offices |
Branches Names |
Country |
Province |
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None |
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Branches Owned/ Rented |
None |
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Rental Company |
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Owned |
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Value |
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Bank |
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Bond |
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Lease Agreement |
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Lease Expire Date |
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Type of Premises |
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Company Structure (Ownership)
Note: One level up and
all levels down
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SHAREHOLDING |
COMPANY |
SUBSIDIARIES |
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100% COENRAAD CRONJE |
LIZZARD WETSUITS CC |
NONE |
Trade References
Key
deals signed within the past 12 months.
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Company |
Value |
Contact |
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None |
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Trade Reference nr |
Supplier |
Contact |
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1 |
LOMBARTS |
011 5510641 |
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2 |
BARLOWORLD |
011 5713000 |
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3 |
SPRISSION SCREEN PRINTERS |
031 5691263 |
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4 |
FIRST STREET |
031 5691451 |
Trade References
Detail
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Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
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1 |
Unable |
To |
Obtain |
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2 |
Do |
not |
give |
trade |
reference |
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3 |
5 Years |
Open Account |
R40 000 |
30 days |
R40 000 |
30 days |
Very Good |
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4 |
2 Years |
R100 000 |
R70 000 |
30 days |
R70 000 |
30 days |
Good |
Adverse Information on Subject
Judgements
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Judgements |
None |
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Possible
Judgements |
None |
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Civil Court |
None |
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RDs |
None |
Business Rescue
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Date registered |
Business rescue practitioner |
Contact Information |
Details |
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None |
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Default Listings
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Date |
Details |
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None |
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Notarial Bonds
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Date |
Details |
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None |
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Bank Information
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Bank |
STANDARD BANK |
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Branch |
GREYVILLE |
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Bank Account Number |
052689956 |
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Type of Account |
LIZZARD WETSUITS CC |
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Account Name |
CURRENT |
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Overdraft Facilities |
N/A |
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Bank Code |
C for R100 000 |
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Bank Comment |
The subject’s bankers consider them as equal to their normal business
engagements. |
Bank Codes History
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Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
Years with bank |
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None |
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Previous Bank
Accounts
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Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
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None |
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Deeds Information
Property Interestsfor Company
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Title Deed No. |
None |
Erf/Site No. |
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Deeds Office |
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Physical Address |
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Property Type |
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Extent / Size |
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Purchase Date |
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Purchase price |
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% Ownership |
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Bond Holder |
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Bond Number |
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Bond Amount |
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Financial Information
Financial
Estimates
PLEASE SEE THE FINANCIALS OF THE SUBJECT ATTACHED
Please note the
following:
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Turnover and assets less than R 1,000,000.00 |
The subject falls within the National Credit Act |
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Turnover and assets less than R 2,000,000.00 |
The subject falls within the Consumer Protection Act |
Principals
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Number of Principals |
1 |
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Average Age of Active Principals |
52 |
Active Principals
Principal 1 of 1:
COENRAAD CRONJE
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Surname |
CRONJE |
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First Name |
COENRAAD |
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Other Names |
None |
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Marital Status |
None |
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ID Number |
6009135005085 |
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Verified ID Number |
Yes |
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Current Age |
52 |
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Designation |
Director |
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Status |
Active |
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Appointment Date |
1993-09-08 |
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Physical Address (at time of Appointment) |
57 Hunter Way Umgeni PK DURBAN 4051 |
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Postal Address |
44 Blake Road UMBILO 4001 |
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Current Tel Number |
031 3748400 |
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Cell number |
083 7770526 |
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Current Fax Number |
031 3037100 |
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Current Email Address |
account@lizard.co.za |
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Shareholding |
100% |
Adverse
Information for:COENRAAD CRONJE
Judgement
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Number of
Judgements |
None |
Debt Review
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Debt review |
None |
Other
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Default data |
None |
Business Information for:COENRAAD CRONJE
Current
Business Interests
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Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
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BUNDUBANDZ ADVENTURE EQUIPMENTS CC |
1995/046295/23 |
In Business |
16 Years 4 Months |
0 |
No |
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INGOMANKULU PROPERTIES CC |
B1991/020669/23 |
In Business |
20 Years 6 Months |
0 |
No |
Previous
Business Interests
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Average Age of
Previous Business Interests |
None |
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Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
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None |
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Deeds Information
Property
Interestsfor:COENRAAD CRONJE
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Title Deed No. |
None |
Erf/Site No. |
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Deeds Office |
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Physical Address |
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Property Type |
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Extent / Size |
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Purchase Date |
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Purchase price |
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% Ownership |
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Bond Holder |
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Bond Number |
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Bond Amount |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.68 |
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UK Pound |
1 |
Rs.76.75 |
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Euro |
1 |
Rs.63.57 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.