%20LTD%20-%20162220%2004-Jan-2012_files/image002.jpg){kind=small}
MIRA INFORM REPORT
|
Report Date : |
04.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
PAN MANUFACTURERS (PTY) LTD |
|
|
|
|
|
|
Registered Office : |
175 Houthammer Road, Devland, Gauteng |
|
|
|
|
|
|
Country : |
South Africa |
|
|
|
|
|
|
Date of Incorporation : |
14.07.2006 |
|
|
|
|
|
|
Com. Reg. No.: |
2006/021763/07 |
|
|
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
|
|
Line of Business : |
Manufacture of industrial and safety footwear |
|
|
|
|
|
|
No. of Employees
: |
50 |
|
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
US$ 1 500 000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
South Africa |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company details
Company
Information
|
Registered Name |
PAN MANUFACTURERS (PTY) LTD |
|
Trading as/ Division Name |
PREMIER SAFETY |
|
Previous Name |
None |
|
Date of Name Change |
N/A |
|
Registration Number |
2006/021763/07 |
|
Registration Date |
2006-07-14 |
|
Date Commenced Trading |
2006 |
|
Age of Business |
5 years 5 months |
|
History of Business |
The subject originated in 1993 and was started by MR REDDIAR. He then sold it to PAN MANUFACTURERS and purchased it bank in APRIL
2010. |
|
Shareholders and % holding |
100% R A REDDIAR |
|
Authorised Share Capital |
R1000 |
|
Issued Share Capital |
R100 |
|
Status |
In Business |
|
Operations Assessment |
Manufacture of industrial and safety
footwear. |
|
Industry/ Customers |
Wholesalers |
|
Export |
Malawi, Botswana and Zambia |
|
Major Industry Code / SICC |
31700 Manufacturing |
|
Definition of Code |
Manufacture of footwear |
|
Head Office Physical Address |
175 Houthammer Road DEVLAND Gauteng |
|
Head Office Postal Address |
P O Box 33199 JEPPESTOWN 2043 |
|
Current Tel Number |
011 9331711 |
|
Cell number |
|
|
Current Email Address |
|
|
Web Site Address |
Auditors
Information
|
Company Registered Name |
ACCOUNTING SERVICES |
|
Contact Person |
MR MAHARAJ |
|
Contact Number |
031 2622009, no answer |
|
SAICA number |
915153 |
Previous Auditors
|
Company Name |
Time with previous auditors |
|
ASHWIN DAYA AND
ASSOCIATES |
2 years |
|
BURN REYNOLDS
AND CO |
Unknown |
|
M DANAMAN |
Unknown |
Tax
Information
|
Vat Number |
4400230506 |
|
Status |
Active |
|
Vat Liable Date |
Every second month, due February 2012 |
|
Tax Number |
9575731154 |
|
Tax Clearance Expire Date |
February and August |
|
Financial Year End |
February |
Black
Economic Empowerment
|
Status |
Yes |
|
Score |
Level 1 |
|
Expire Date |
|
|
BEE Certificate Available |
|
ISO
Status
|
Type of ISO Grade |
None have SA rating |
|
ISO Certificate |
|
|
ISO Certificate Available |
|
|
Certified by an Accredited Agent |
|
Workman’s
compensation
|
Registered |
Yes |
|
Compliance Certified |
Yes |
Company
Structure
Subsidiaries
|
Subsidiary Company |
None |
|
Shareholding |
|
|
Registration Number |
|
|
Import / Export |
|
|
Number of
Employees |
50 |
|
1. Salaried
employees |
10 |
|
2. Waged
employees |
40 |
|
3. Permanent
employees |
|
|
4. Casual
employees |
|
|
5. Contracted
employees |
|
Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is made up of |
2 |
|||
|
1. Cars |
|
|
|
|
|
2. Light
Delivery Vehicles |
2 |
Owned |
R150 000 |
None |
|
3. Trailers |
|
|
|
|
|
4. Busses |
|
|
|
|
|
5. Trucks |
|
|
|
|
|
6. Fork
Lifts |
|
|
|
|
|
7. Other |
|
|
|
|
|
Offices |
|
Head Office Owned/ Rented |
Owned |
|
Rental Company |
|
|
Owned by |
PAN MANUFACTURERS (PTY) LTD |
|
Value |
R5 000 000 |
|
Bond |
R2 000 000 |
|
Bank |
STANDARD BANK |
|
Lease Agreement |
|
|
Lease Expire Date |
|
|
Type of Premises |
Industrial |
Trade
References
Key
deals signed within the past 12 months.
|
Company |
Value |
Contact |
|
Not available |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
|
1 |
MENDELSON AND
FROST |
011 4442250 |
|
|
|
2 |
SHOEQUIP |
031 7028550 |
|
|
|
3 |
CURECHEM |
011 8227378 |
|
|
Trade
References Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
Closed for Festive Season |
No Answer |
|
|
|
|
|
|
2 |
Closed |
No Answer |
|
|
|
|
|
|
3 |
3 years |
R100 000 |
R80 000 |
30 days |
R10 000-
R80 000 |
30 days |
Good |
Adverse Information on Subject
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
Information
|
Bank |
STANDARD BANK |
|
Branch |
LENASIA |
|
Bank Account Number |
201119145 |
|
Type of Account |
Current |
|
Account Name |
PAN MANUFACTURERS (PTY) LTD |
|
Overdraft Facilities |
Yes, R2 000 000 secured by property |
|
Bank Code |
C for R500 000 |
|
Bank Comment |
The subject is considered as equal to its 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 |
|
|
|
|
|
Deeds
Information
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 Information
Financial
Estimates
|
CURRENT ASSETS |
|
|
Stock |
|
|
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 |
|
|
Current Turnover per annum |
R16- 20 000 000 |
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 |
68 |
Active Principals
Principal 1 of 1: RICHARD REDDIAR
|
Surname |
REDDIAR |
|
First Name |
RICHARD |
|
Other Names |
A |
|
Marital Status |
Divorced |
|
ID Number |
4303295054088 |
|
Verified ID Number |
Yes |
|
Current Age |
68 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2007-08-01 |
|
Physical Address (at time of Appointment) |
232 Canford Street MONDEOR 2091 |
|
Postal Address |
232 Canford Street MONDEOR 2091 |
|
Current Tel Number |
011 4334712/ 4769520 |
|
Cell number |
082 7055575 |
|
Current Fax Number |
0119332014 |
|
Current Email Address |
|
|
Shareholding |
100% |
Adverse Information for RICHARD REDDIAR
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information for RICHARD REDDIAR
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
PREMIER SAFETY
FOOTWEAR MANUFACTURERS (PTY) LTD |
2006/021763/07 |
In Business |
18 years 6
months |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
9 years |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
MITCHELL DEAN
FOOTWEAR CC |
1995/054316/23 |
Deregistration
Final |
16 years |
0 |
No |
|
EXTRA DIMENSIONS
1055 CC |
2001/026876/23 |
Deregistration
Final |
10 years 7
months |
0 |
No |
|
MITCHELL DEAN
CLASSIC CC |
2001/048828/23 |
Deregistration
Final |
10 years 5
months |
0 |
No |
|
SAMBANE
INVESTMENTS NO 6 CC |
2003/102546/23 |
Deregistration
Final |
8 years 1 month |
1 |
No |
|
R R SAFETY
FOOTWEAR CC |
2004/001060/23 |
In Business |
7 years 11
months |
0 |
No |
|
APTER TRAIDNG CC |
2004/087017/23 |
Deregistration
Final |
7 years 4 months |
0 |
No |
|
REDDIAR TRADING
CC |
2006/113357/23 |
Deregistration
Final |
5 years 5 months |
0 |
No |
|
RAG BOYZ CC |
2007/086566/23 |
Deregistration
process |
4 years 7 months |
0 |
No |
|
BABELEGI
WORKWEAR AND INDUSTRIAL SUPPLIES CC |
B1998/014474/23 |
In Business |
13 years 9
months |
0 |
No |
Deeds Information
Property Interestsfor RICHARD REDDIAR
|
Title Deed No. |
T22451/2007 |
Erf/Site No. |
|
|
Deeds Office |
JOHANNESBURG |
Physical Address |
232 CANFORD
MONDEOR JOHANESBURG SOUTH |
|
Property Type |
Freehold/ Ervin |
Extent / Size |
1104.0SQM |
|
Purchase Date |
2006-12-07 |
Purchase price |
R1 100 000.00 |
|
% Ownership |
0.0000 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
R0.00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.23 |
|
UK Pound |
1 |
Rs.82.87 |
|
Euro |
1 |
Rs.69.13 |
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.