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MIRA
INFORM REPORT
|
Report Date : |
05.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
BLASTRITE (PTY) LTD |
|
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Registered Office : |
16th Floor 2 Long Street Cape Town 8000 |
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Country : |
South Africa |
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Date of Incorporation : |
14.07.1981 |
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Com. Reg. No.: |
M1981/006731/07 |
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Legal Form : |
Private Company |
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|
|
Line of Business : |
Processing of mine waste, and manufacture of
sand blasting media and equipment. |
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|
|
|
No. of Employees : |
160 |
RATING & COMMENTS
|
MIRAs Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 September 30, 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 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Assessment
Total Credit Limit Exposure:
Total Suretyship:
This is an established company.
In view of the absence of Financial information, trade references and a
bank code, we have no basis upon which to make a recommendation.
Caution should be exercised in dealings
with the subject.
Company Information
|
Registered Name |
BLASTRITE (PTY) LTD |
|
Trading as/ Division Name |
None |
|
Previous Name |
None |
|
Date of Name Change |
N/A |
|
Registration Number |
M1981/006731/07 |
|
Registration Date |
1981-07-14 |
|
Date Commenced Trading |
1981-07-14 |
|
Age of Business |
30 Years 5 Months |
|
History of Business |
The subject was in existence prior to1981 |
|
Shareholders/Members/Partners of subject
and % holding |
100% HALDANE (PTY) LTD |
|
Authorised Share Capital |
Nominal |
|
Issued Share Capital |
R80 |
|
Status |
This Business is Active |
|
Operations Assessment |
Processing of mine waste, and manufacture
of sand blasting media and equipment. |
|
Industry/ Customers |
Marine, oil and gas, heavy industry |
|
Export |
Worldwide |
|
Major Industry Code / SICC |
35740 Manufacturing |
|
Definition of Code |
Manufacture of machinery for mining,
quarrying and construction. |
|
Head Office Physical Address |
16th Floor 2 Long Street CAPE TOWN 8000 Old address of auditors 3rdBree Street Cape Town 8001 |
|
Head Office Postal Address |
P O Box 5515 CAPE TOWN 8000 Germiston branch P O Box 4585 GERMISTON 1400 |
|
Current Tel Number |
021 4171700 |
|
Current Fax Number |
021 4252341 |
|
Web Site Address |
www.blastrite.com |
Auditors Information
|
Company Registered Name |
RSM BETY & DICKSON (CAPE TOWN) |
|
Physical Address |
15 Greenwich Grove Station Road RODEBOSCH Western Cape |
|
Postal Address |
PO Box 578 RONDEBOSCH 7701 |
|
Contact Person |
DITA SHULTZ |
|
Contact Number |
021 6867890 |
|
Subject Verified as Client |
Yes |
|
Years With Auditors |
10 years |
Previous Auditors
|
Company Name |
Phone Number |
Time with previous auditors |
|
ERNEST &
YOUNG |
|
Unknown |
|
ERNST AND
WHINNEY |
|
30 Years |
Tax Information
|
Vat Number |
4760116162 |
|
Status |
Active |
|
Vat Liable Date |
Monthly |
|
Tax Number |
9090095036 |
|
Tax Clearance Expire Date |
February and August |
|
Financial Year End |
February |
Black Economic Empowerment
|
Status |
Yes |
|
Score |
Level 6 |
|
Expire Date |
September 2012 |
|
BEE Certificate Available |
No |
ISO Status
|
Type of ISO Grade |
No |
|
ISO Certificate |
Yes/No |
|
ISO Certificate Available |
Yes/No |
|
Certified by an Accredited Agent |
Yes/No |
Workmans compensation
|
Registered |
Yes |
|
Compliance Certified |
Yes |
Company Structure
Subsidiaries
|
Subsidiary Company |
The subject is reported to have
subsidiaries however they are dormant and the names were not forthcoming. |
|
Shareholding |
|
|
Registration Number |
|
|
Import / Export |
|
|
Number of
Employees |
160 |
|
1. Salaried
employees |
X |
|
2. Waged
employees |
X |
|
3. Permanent
employees |
|
|
4. Casual
employees |
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5. Contracted
employees |
|
Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
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|
The Fleet is made up of |
20 |
|||
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1. Cars |
X |
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2. Light
Delivery Vehicles |
X |
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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 |
|
Head Office Owned/ Rented |
Rented |
|
Rental Company |
JH Issacs |
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Owned by |
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|
Value |
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|
Bond |
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|
Bank |
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Lease Agreement |
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|
Lease Expire Date |
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Type of Premises |
|
|
Branches Names |
Country |
Province |
|
GERMISTON |
SOUTH AFRICA |
GAUTENG |
|
Ports throughout
SA |
|
|
Branches Owned/ Rented |
Germiston Rented |
|
Rental Company |
JOHN HALDANE (PTY) LTD |
Branches Owned/ Rented |
Ports Rented |
|
Rental Company |
Mostly from Transnet |
Trade References
Key deals signed within the past 12 months.
|
Company |
Value |
Contact |
|
DECLINED |
|
|
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
|
1 |
DECLINED |
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|
|
Trade References
Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
DECLINED |
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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 |
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|
|
Default
Listings
|
Date |
Details |
|
None |
|
Notarial
Bonds
|
Date |
Details |
|
None |
|
Bank Information
|
Bank |
DECLINED |
Bank
Codes History
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RDs |
RD amount |
RD Date |
Bank Comments |
Years with bank |
|
None |
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|
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|
|
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|
Previous
Bank Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
None |
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|
|
|
|
Deeds Information
Property Interestsfor Company
|
Title Deed No. |
T38941/2003 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
RUSTERNBURG
RURAL |
|
Property Type |
Farms |
Extent / Size |
3.6417H |
|
Purchase Date |
2002-02-28 |
Purchase price |
R 200 000,00 |
|
% Ownership |
0.0000 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
0.00 |
Property Interestsfor Company
|
Title Deed No. |
T38942/2003 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
RUSTERNBURG
RURAL |
|
Property Type |
Farms |
Extent / Size |
4.4518H |
|
Purchase Date |
2001-02-28 |
Purchase price |
R 8 177.00 |
|
% Ownership |
0.0000 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
0.00 |
Financial Information
Financial
Estimates
|
CURRENT ASSETS |
DECLINED |
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 |
4 |
|
Average Age of Active Principals |
54 |
Active Principals
Principal 1 of 4: PIETER HUYSAMEN
|
Surname |
HUYSAMEN |
|
First Name |
PIETER |
|
ID Number |
6911225145087 |
|
Verified ID Number |
Yes |
|
Current Age |
42 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2009-04-30 |
|
Physical Address (at time of Appointment) |
4 Milkwood Crescent Sandown Estate BIG BAY 7441 |
|
Postal Address |
PO Box 5515 CAPE TOWN 8000 |
|
Current Tel Number |
021 4472514 |
|
Cell number |
084 7057013 |
|
Shareholding |
(if the principal owns shares) |
Adverse
Information for :PIETER HUYSAMEN
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information for :PIETER HUYSAMEN
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
None |
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|
|
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Previous Business Interests
|
Average Age of
Previous Business Interests |
16 |
|
Company
Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
MUEHLHAN
(SOUTH AFRICA) (PTY) LTD |
1985/0041441/07 |
Deregistration Final |
26 Years 5 Months |
0 |
No |
|
AQUAJET
S A (PTY) LTD |
1996/004283/07 |
Deregistration Final |
15 Years 8 Months |
0 |
No |
|
AQUA
JET TECHNOLOGIES (PTY) LTD |
2004/009949/07 |
In Business |
7 Years 8 Months |
0 |
No |
Deeds Information
Property Interestsfor :PIETER HUYSAMEN
|
Title Deed No. |
T55485/2007 |
Erf/Site No. |
|
|
Deeds Office |
CAPE TOWN |
Physical Address |
4 Milkwood,
Sandown Estate, BLOUBERG |
|
Property Type |
Freehold/ Ervin |
Extent / Size |
616.0SQM |
|
Purchase Date |
2007-04-15 |
Purchase price |
R 840 000,00 |
|
% Ownership |
0.0000 |
Bond Holder |
A B S A BANK LTD |
|
Bond Number |
B660632007 |
Bond Amount |
R 1 200 000,00 |
Criminal
Check for :PIETER HUYSAMEN
Criminal Information (This is on request)
|
Case Number |
None |
Principal 2 of 4: ANDREW LASHBROOKE
|
Surname |
LASHBROOKE |
|
First Name |
ANDREW |
|
ID Number |
6611255039081 |
|
Verified ID Number |
Yes |
|
Current Age |
45 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2006-09-01 |
|
Physical Address (at time of Appointment) |
2 Lavender Gate Steels Lane ORSHOTT SURREY 0000 |
|
Postal Address |
2 Lavender Gate Steels Lane ORSHOTT SURREY 0000 |
|
Current Tel Number |
021 417 1700 |
|
Cell number |
082 7796079 |
|
Shareholding |
(if the principal owns shares) |
Adverse
Information for:ANDREW LASHBROOKE
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information for:ANDREW LASHBROOKE
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
MRC RESOURCES (PTY)
LTD |
M2001/008710/07 |
In Business |
10 Years 8 Months |
0 |
No |
|
MINERAL
SANDS RESOURCES (PTY) LTD |
M2001/016755/07 |
In Business |
10 Years 5 Months |
0 |
No |
|
MRC
METALS (PTY) LTD |
M2003/010880/07 |
In Business |
8 Years 7 Months |
0 |
No |
|
TORMIN
MINERAL SANDS (PTY) LTD |
M2005/024160/07 |
In Business |
6 Years 7 Months |
0 |
No |
Previous Business Interests
|
Average
Age of Previous Business Interests |
27 |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
A
M L IMPORTS CC |
1996/027913/23 |
Deregistration Process |
15 Years 6 Months |
0 |
No |
|
PICK
N PAY RETAILER (PTY) LTD |
M1973/004739/07 |
In Business |
38 Years 8 Months |
0 |
No |
Deeds Information
Property Interestsfor:ANDREW LASHBROOKE
|
Title Deed No. |
T41995/2010 |
Erf/Site No. |
|
|
Deeds Office |
CAPE TOWN |
Physical Address |
1 WYCOMBE
RUST-EN-VREDE SOUTHERN SUBURBS |
|
Property Type |
Freehold / Ervin |
Extent / Size |
1356.0SQM |
|
Purchase Date |
2010-06-07 |
Purchase price |
R 3 840 000,00 |
|
% Ownership |
0.0000 |
Bond Holder |
STANDARD BANK OF
SA |
|
Bond Number |
B235382010 |
Bond Amount |
R 3 072 000,00 |
Criminal
Check for :ANDREW LASHBROOKE
Criminal Information (This is on request)
|
Case Number |
None |
Principal 3 of 4:
GAVIN KELMAN
|
Surname |
KELMAN |
|
First Name |
GAVIN |
|
ID Number |
6805025034006 |
|
Verified ID Number |
Yes |
|
Current Age |
43 |
|
Designation |
Financial Director |
|
Status |
Active |
|
Appointment Date |
2006-09-01 |
|
Physical Address (at time of Appointment) |
5 Winch Way Bloubergsands CAPE TOWN 7441 |
|
Postal Address |
PO Box 5515 CAPE TOWN 8001 |
|
Current Tel Number |
021 5551066 |
|
Cell number |
082 5506556 |
|
Shareholding |
(if the principal owns shares) |
Adverse
Information for : GAVIN KELMAN
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information for : GAVIN KELMAN
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Previous Business Interests
|
Average Age of
Previous Business Interests |
23 |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
COMPUTER NETWORK CAPE (PTY) LTD |
1989/005505/07 |
Deregistration Final |
22 Years 3 Months |
0 |
No |
Deeds Information
Property Interestsfor : GAVIN KELMAN
|
Title Deed No. |
T87848/2007 |
Erf/Site No. |
|
|
Deeds Office |
CAPE TOWN |
Physical Address |
16 GRAAFF
MILNERTON, MILNERTON |
|
Property Type |
Freehold / Ervin |
Extent / Size |
1311.0SQM |
|
Purchase Date |
2007-07-07 |
Purchase price |
R 2 600 000,00 |
|
% Ownership |
0.0000 |
Bond Holder |
INVESTEC BANK
LTD |
|
Bond Number |
B1026922007 |
Bond Amount |
R 2 502 100,00 |
Criminal
Check for : GAVIN KELMAN
Criminal Information (This is on request)
|
Case Number |
None |
Principal 4 of 4: JOHN DOUGLAS HALDANE
|
Surname |
HALDANE |
|
First Name |
JOHN |
|
Other Names |
DOUGLAS |
|
ID Number |
391026000000 |
|
Verified ID Number |
No |
|
Current Age |
72 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
1981-07-14 |
|
Physical Address (at time of Appointment) |
Pagasvlei Pagasvlei Road Constantia CAPE TOWN 7800 |
|
Postal Address |
PO Box 5515 CAPE TOWN 8001 |
|
Shareholding |
(if the principal owns shares) |
Adverse
Information for : JOHN DOUGLAS HALDANE
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information for : JOHN DOUGLAS HALDANE
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
None |
|
|
|
|
|
|
|
|
|
|
|
|
Previous Business Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
HALDANE
AND ASOCIATE (PTY) LTD |
1973/001622/07 |
Deregistration Final |
38 Years 10 Months |
0 |
No |
|
AQUA
JET TECHNOLOGIES (PTY) LTD |
2004/009949/07 |
In Business |
7 Years 8 Months |
0 |
No |
Deeds Information
Property Interestsfor : JOHN DOUGLAS HALDANE
|
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 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.14 |
|
|
1 |
Rs.83.08 |
|
Euro |
1 |
Rs.69.25 |
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 SCs 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.