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MIRA
INFORM REPORT
|
Report Date : |
20.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
INDEPENDENT FRICTION A DIVISION OF BOLDER INVESTMENTS (PTY) LTD |
|
|
|
|
Registered Office : |
Unit 10,15 Devon Road Pinetown Kwazulu Natal |
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|
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|
Country : |
South Africa |
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Date of Incorporation : |
28.04.1995 |
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|
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Com. Reg. No.: |
1995/003731/07 |
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|
|
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Legal Form : |
Private Company |
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|
|
|
Line of Business : |
Importing of brake linings, clutches and friction parts. |
|
|
|
|
No. of Employees : |
9 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 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 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Assessment
Total Credit Limit Exposure: R800 000
Total Suretyship: Unknown
This is an established company that imports
all its products.
The local clearing agents state commitments are being met
within terms.
Your figure is considered as too high.
We still await a bank code.
Company Information
|
Registered Name |
BOLDER INVESTMENT (PTY) LTD |
|
Trading as/ Division Name |
INDEPENDENT FRICTION |
|
Previous Name |
None |
|
Date of Name Change |
N/A |
|
Registration Number |
1995/003731/07 |
|
Registration Date |
1995-04-28 |
|
Date Commenced Trading |
1995-04-28 |
|
Age of Business |
16 Years 9 Months |
|
History of Business |
None |
|
History of Principals |
None |
|
Shareholders/Members/Partners of subject
and % holding |
35% J VENTER 35% K HARDING 30% D HARDING |
|
Authorised Share Capital |
Nominal |
|
Issued Share Capital/Members Contribution |
R100 |
|
Status |
Active |
|
Operations Assessment |
Importing of brake linings, clutches and
friction parts. |
|
Industry/ Customers |
Wholesalers |
|
Export |
On occasion to neighbouring countries |
|
Major Industry Code / SICC |
63319 Wholesale Retail |
|
Definition of Code |
Sale of New parts and accessories for
motor vehicles. |
|
Head Office Physical Address |
Unit 10,15 Devon Road PINETOWN Kwazulu Natal |
|
Head Office Postal Address |
PO Box 615 NEW GERMANY 3620 |
|
Current Tel Number |
031 7026346 |
|
Current Fax Number |
031 7026349 |
|
Current Email Address |
|
|
Web Site Address |
None |
Auditors Information
|
Company Registered Name |
HILLS AND ASSOCIATES INC |
|
Postal Address |
PO Box 1861 EMPANGENI 3880 |
The business is currently changing its auditors to
CORNELIUS AND SAVILLE tel: 031 7017388.
This is still being negotiated.
Previous Auditors
|
Company Name |
Situation |
Time with previous auditors |
|
HILLS HOWARD
ZULULAND INC |
Empangeni |
10 years |
|
A BOZAS AND
COMPANY |
Eshowe |
Unknown |
|
H AND W
CHARTERED ACCOUNTANTS |
Empangeni |
6 years |
Tax Information
|
Vat Number |
4010177592 |
|
Status |
Active |
|
Vat Liable Date |
Every second month, end January |
|
Tax Number |
9155611206 |
|
Tax Clearance Expire Date |
February |
|
Financial Year End |
February |
Black Economic Empowerment
|
Status |
None |
|
Score |
|
|
Expire Date |
|
|
BEE Certificate Available |
Yes/No |
ISO Status
|
Type of ISO Grade |
Yes ISO 14002, ISO 9001 |
|
ISO Certificate |
Yes/No |
|
ISO Certificate Available |
Yes/No |
|
Certified by an Accredited Agent |
Yes- TV certified |
Workman’s compensation
|
Registered |
Yes |
|
Compliance Certified |
Yes |
Company Structure
Subsidiaries
|
Subsidiary Company |
None |
|
Shareholding |
|
|
Registration Number |
|
|
Import / Export |
|
|
Number of
Employees |
9 |
|
1. Salaried
employees |
9 |
|
2. Waged
employees |
|
|
3. Permanent
employees |
9 |
|
4. Casual
employees |
|
|
5. Contracted
employees |
|
Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is made up of |
5 |
|||
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1. Cars |
|
|
|
|
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2. Light
Delivery Vehicles |
5 |
Owned |
? |
2 are paid off |
|
Offices |
|
Head Office Owned/ Rented |
Rented |
|
Rental Company |
15 DEVON ROAD CC |
|
Lease Agreement |
3 years |
|
Lease Expire Date |
Fluctuates |
|
Type of Premises |
Office and Warehouse |
|
Branches Names |
Country |
Province |
|
Cape town |
South Africa |
Western Cape |
Branches Owned/ Rented |
Rented |
|
Rental Company |
GASHAY PROPERTIES |
|
Lease Expire Date |
|
|
Type of Premises |
Office and warehouse |
Management
Overview
Organisation chart
Not Available
Company Structure (Ownership)
Note: One level up and
all levels down
Not Available
Trade References
Key deals signed within the past 12 months.
|
Company |
Value |
Contact |
|
None |
|
|
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
|
1 |
ROHLIG GRINDROD |
031 3652200 |
Unknown |
Unknown |
Trade
References Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
2010 |
R800 000 |
R164 000 |
30 days |
R98 000-
R164 000 |
30 days |
Very 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 |
PINETOWN |
|
Bank Account Number |
053038436 |
|
Type of Account |
Current |
|
Account Name |
BOULDER INVESTMENTS (PTY) LTD |
|
Overdraft Facilities |
Not forthcoming |
|
Bank Code |
We await a bank code |
|
Bank Comment |
|
Bank
Codes History
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
Years with bank |
|
None |
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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. |
None |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
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|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Financial Information
Financial
Estimates
|
CURRENT ASSETS |
Declined |
|
Stock |
Declined |
|
Debtors |
Declined |
|
FIXED ASSETS |
Declined |
|
Plant, Equipment, Vehicles |
Declined |
|
Property |
Declined |
|
CURRENT LIABILITIES |
Declined |
|
Creditors |
Declined |
|
Loans/ From? |
Declined |
|
LONG TERM LIABILITIES |
Declined |
|
Morgage Bonds |
Declined |
|
Previous Year Turnover |
Declined |
|
Estimated Current Year Turnover |
Declined |
|
Current Turnover per month |
Declined |
|
Current Turnover per annum |
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 |
3 |
|
Average Age of Active Principals |
63 |
Active
Principals
Principal 1 of 3: JAN VENTER
|
Surname |
VENTER |
|
First Name |
JAN |
|
Other Names |
None |
|
Marital Status |
Married |
|
ID Number |
2906225030002 |
|
Verified ID Number |
Yes |
|
Current Age |
83 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2003-07-25 |
|
Physical Address (at time of Appointment) |
33 Minerva Drive South BALLITO 4420 |
|
Postal Address |
PO Box 615 BALLITO 4420 |
|
Current Tel Number |
032 2006322 |
|
Cell number |
083 2703811 |
|
Current Fax Number |
031 7026349 |
|
Current Email Address |
ifd@mweb.co.za |
|
Shareholding |
35% |
Adverse
Information for: JAN VENTER
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information for: JAN VENTER
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
M I T DISTRIBUTORS (PTY) LTD |
1986/001546/07 |
In Business |
25 Years 9 Months |
0 |
No |
|
A1 EQUIPMENT AND SPARES CC |
1990/015851/23 |
In Business |
21 Years 8 Months |
0 |
No |
|
SENEKAL BRAKE AND CLUTCH CC |
1990/019504/23 |
Conversion CO/CC
or CC/CO |
21 Years 7 Months |
0 |
No |
|
HUNTEX 21 (PTY) LTD |
2003/025042/07 |
Deregistration Final |
8 Years 3 Months |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
19 Years |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
AUTOLINK AUTOMOTIVE PRODUCTS (PTY) LTD |
1964/008834/07 |
Deregistration Final |
47 Years 1 Months |
0 |
No |
|
LINKBLOC CC |
1990/030605/23 |
Deregistration Final |
21 Years 4 Months |
0 |
No |
|
MINERVA DISTRIBUTORS CC |
1990/035363/23 |
Deregistration Final |
21 Years 2 Months |
0 |
No |
|
AUTOLINK MANUFACTURING (PTY) LTD |
1993/004493/07 |
Deregistration Final |
18 Years 3 Months |
0 |
No |
|
AUTOLINK DISTRIBUTORS CAPE (PTY) LTD |
1993/004494 |
Deregistration Final |
18 Years 5 Months |
0 |
No |
|
AUTOLINK DISTRIBUTORS TRANSVAAL (PTY) LTD |
1993/006263/07 |
Deregistration Final |
18 Years 3 Months |
0 |
No |
|
GARAD INDUSTRIAL (PTY) LTD |
1993/004643/07 |
Deregistration Final |
18 Years 5 Months |
0 |
No |
|
A1 STRUCTURAL ENGINEERING CC |
1997/068287/23 |
Deregistration Final |
14 Years 1 Months |
0 |
No |
Deeds Information
Property Interestsfor: JAN VENTER
|
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 |
|
Principal 2 of 3: DEAN HARDING
|
Surname |
HARDING |
|
First Name |
DEAN |
|
Other Names |
None |
|
Marital Status |
Married |
|
ID Number |
7201155099085 |
|
Verified ID Number |
Yes |
|
Current Age |
40 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2001-04-01 |
|
Physical Address (at time of Appointment) |
68 Gus Brown Road WARNER BEACH 4126 |
|
Postal Address |
PO Box 615 NEW GERMANY 3620 |
|
Current Tel Number |
011 6794734 |
|
Cell number |
082 3751448 |
|
Current Fax Number |
031 7026349 |
|
Current Email Address |
ifd@mweb.co.za |
|
Shareholding |
30% |
Adverse
Information for: DEAN HARDING
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information for: DEAN HARDING
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 |
|
HEAVY DUTY BRAKE DISTRIBUTORS CC |
2009/140915/23 |
In Business |
2 Years 6 Months |
0 |
No |
Deeds Information
Property Interestsfor: DEAN HARDING
|
Title Deed No. |
T17613/2005 |
Erf/Site No. |
|
|
Deeds Office |
PITERMARITZBURG |
Physical Address |
68 GUS BROWN
WARNER BEACH KINGSBURGH |
|
Property Type |
Freehold / Ervin |
Extent / Size |
1408.0SQM |
|
Purchase Date |
2004-07-12 |
Purchase price |
R 1 100 000,00 |
|
% Ownership |
0.0000 |
Bond Holder |
STANDARD BANK SA |
|
Bond Number |
B191532005 |
Bond Amount |
R 1 000 000,00 |
Principal 3of 3: KENNETH HARDING
|
Surname |
HARDING |
|
First Name |
KENNETH |
|
Other Names |
None |
|
Marital Status |
Married |
|
ID Number |
460712009082 |
|
Verified ID Number |
Yes |
|
Current Age |
66 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
1995-04-28 |
|
Physical Address (at time of Appointment) |
Unit 1, Ten Trees WARNER BEACH 4126 |
|
Postal Address |
PO Box 614 NEW GERMANY 3620 |
|
Current Tel Number |
031 9166666 |
|
Cell number |
082 4459596 |
|
Current Fax Number |
031 7026349 |
|
Current Email Address |
ifd@mweb.co.za |
|
Shareholding |
35% |
Adverse
Information for: KENNETH HARDING
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information for: KENNETH HARDING
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
HUNTREX 21 (PTY) LTD |
2003/025042/07 |
Deregistration Process |
8 Years 3 Months |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
2 Years |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
HEAVY DUTY BRAKE DISTRIBUTORS CC |
2009/140915/23 |
In Business |
2 Years 6 Months |
0 |
No |
Deeds Information
Property Interestsfor: KENNETH HARDING
|
Title Deed No. |
ST60942/2001 |
Erf/Site No. |
748,REM |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
|
|
Property Type |
Sectional Title / Unit |
Extent / Size |
249.0SQM |
|
Purchase Date |
2001-08-17 |
Purchase price |
R 395 000,00 |
|
% Ownership |
0.0000 |
Bond Holder |
STANDARD BANK SA |
|
Bond Number |
SB363522001 |
Bond Amount |
R 395 000,00 |
|
Title Deed No. |
T17613/2005 |
Erf/Site No. |
|
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
68 GUS BROWN
WARNER BEACH KINGSBURGH |
|
Property Type |
Freehold / Ervin |
Extent / Size |
1408.0SQM |
|
Purchase Date |
2004-07-12 |
Purchase price |
R 1 100 000,00 |
|
% Ownership |
0.0000 |
Bond Holder |
STANDARD BANK SA |
|
Bond Number |
B191532005 |
Bond Amount |
R 1 000 000,00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.29 |
|
|
1 |
Rs.77.60 |
|
Euro |
1 |
Rs.64.67 |
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.