MIRA
INFORM REPORT
|
Report Date : |
12.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
ADVANCE SEED (PTY) LTD |
|
|
|
|
Formerly Known As : |
WHITNEV
INVESTMENTS (PTY) LTD |
|
|
|
|
Registered Office : |
8 Jacob
Streetchamdorkrugersdorp |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
24.02.1994 |
|
|
|
|
Com. Reg. No.: |
M1994/001269/07 |
|
|
|
|
Legal Form : |
Private company |
|
|
|
|
Line of Business : |
Seed
Merchants and traders The
subject is also involved in packaging goods |
|
|
|
|
No. of Employees : |
153 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Subject
Name |
ADVANCE
SEED (PTY)LTD |
|
Country |
South
Africa |
|
Subject
Contact Person |
BELINDA
TENDOESCHATE |
|
Assessment |
This
is a well-established and well -connected business. On investigation we made
contact with the subject and we were referred to the Credit Manager BELINDA
TENDOESHATE who assisted with all information on the subject. However
declined to assist with any financial information as it is deemed
confidential. The subject is meeting commitments timeously with suppliers. We
obtained a bank code C for R1 800 000. |
Company information
|
Registered
Name |
ADVANCE
SEED (PTY)LTD |
|
Trading
as/ Division Name |
ADVANCE
SEED |
|
Previous
Name |
WHITNEV
INVESTMENTS (PTY) LTD |
|
Date
of Name Change |
Jan
22 2007 12:00AM |
|
Registration
Number |
M1994/001269/07 |
|
Registration
Date |
1994/02/24 |
|
Date
Commenced Trading |
1994-02-24 |
|
Age
of Business |
18
Years 5 Months |
|
History
of Business |
Advance
Seed, a South African based agricultural production, processing and trading
organization, was established in 1966.Advance Seed is involved in all
branches of the Agricultural sector including Crop Production, Cleaning,
Grading and Processing, Marketing and Sales as well as the Export of
speciality crops to a costumer base in over 50 countries around the world. |
|
History
of Principals |
There
are 2 active Directors within the company. |
|
Shareholders/Members/Partners
of subject and % holding |
100%
ALLIANCE GRAIN TRADER (IN CANADA) |
|
Authorised
Share Capital |
R
0.00 |
|
Issued
Share Capital/Members Contribution |
R
0.00 |
|
Status |
In
Business |
|
Operations
Assessment |
Seed Merchants
and traders. The subject is also involved in packaging goods. |
|
Industry/
Customers |
SPAR
,CHECKERS,PICK AND PAY,TIGER |
|
Export |
Export |
|
Major
Industry Code / SICC |
61221 |
|
Definition
of Code |
Wholesale
trade in foodstuffs |
|
Head
Office Physical Address |
8
Jacob StreetChamdorKRUGERSDORP |
Head
Office Postal Address |
PO
BOX 414KRUGERSDORP |
|
Current
Tel Number |
011
7625261 |
|
Current
Fax Number |
011
7625261 |
|
Current
Email Address |
|
|
Web
Site Address |
|
|
Comments |
The
Credit manager belinda could not assist with the Authorised capital and
issued share capital amounts. |
Auditors information
|
Company
Registered Name |
GLASS
TUCKER & VENNTER |
|
Trading
Name |
GLASS
TUCKER & VENNTER |
|
Registration
Number |
Pathnership |
|
Physical
Address |
29
Vessels RoadRIVONIA |
|
Postal
Address |
P
O BOX 763, RIVONIA, 2128 |
|
Contact
Person |
STEPHEN
TUCKER |
|
Contact
Number |
0118078370 |
|
Email |
|
|
Principals |
2 |
|
Judgements
Against Subject |
None |
|
Judgements
Against Principals |
None |
|
Subject
Verified as Client |
Yes |
|
Practice
Number |
917974E |
|
VAT
Number |
4460120209 |
|
Tax
Number |
3552108844 |
|
BEE
Status |
|
|
Financial
Year End |
February
28 |
|
No
of years in Business |
8 |
|
Website |
|
|
Comment |
The
Auditor does not have a BEE status or a website. |
Previous Auditors
|
Company Name |
Phone Number |
Time with previous auditors |
Comment |
|
PRICEWATERHOUSECOOPERS INC |
|
14 |
|
|
MEYNEL BUYS AND PARTNERS |
|
14 |
|
|
GLASS TUCKER |
|
Unknown |
|
Tax information
|
Vat
Number |
4840141495 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
1994/02/24 |
|
Tax
Number |
9634502844 |
|
Tax
Clearance Expire Date |
2013/05/31 |
|
Financial
Year End |
June |
|
Comment |
|
|
Black
Economic Empowerment |
|
|
Status |
Yes |
|
Score |
8.00 |
|
Expire
Date |
Aug
31 2013 |
|
BEE
Certificate Available |
No |
|
Comment |
|
|
ISO
Status |
|
|
Type
of ISO Grade |
|
|
ISO
Certificate |
No |
|
ISO
Certificate Available |
No |
|
Certified
by an Accredited Agent |
No |
|
Comment |
|
|
Workman's
compensation |
|
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
|
Comment |
|
Company structure
Subsidiaries
|
Subsidiary
Company |
POUYOUKAS
FOODS (PTY)LTD |
|||
|
Shareholding |
100% |
|||
|
Registration
Number |
M1996/008028/07 |
|||
|
Import
/ Export |
|
|||
|
Comment |
|
|||
|
Employees |
||||
|
Number
of Employees |
153 |
|||
|
1.
Salaried employees |
77 |
|||
|
2.
Waged employees |
76 |
|||
|
3.
Permanent employees |
153 |
|||
|
4.
Casual employees |
|
|||
|
5.
Contracted employees |
|
|||
|
Comment |
|
|||
|
Company Fleet |
||||
|
Company
Fleet |
No
of vehicles: |
Ownerd/Leased |
Value |
Outstanding
Balance |
|
Fleet
Operations |
|
|
|
|
|
The
Fleet is made up of |
10 |
|||
|
Comment |
|
|||
|
Cars |
5 |
Owned |
|
|
|
Trucks |
5 |
Owned |
|
|
Offices
|
Offices |
Offices |
|
|
Head
Office Owned/ Rented |
Owned |
|
|
Rental
Company |
|
|
|
Owned
by |
ADVANCE
SEED(PTY)LTD |
|
|
Value |
R
2100000.00 |
|
|
Bond |
|
|
|
Bank |
|
|
|
Lease
Agreement |
|
|
|
Lease
Expire Date |
|
|
|
Type
of Premises |
5
Ware Houses and offices |
|
|
Comment |
|
|
|
Branch
Information |
||
|
Branches Names |
Country |
Province |
|
ADVANCE SEED |
South Africa |
CAPE TOWN |
|
ADVANCE SEED |
South Africa |
DURBAN |
|
Branch Detail
Information |
||
|
Branches
Owned/ Rented |
Leased |
|
|
Rental
Company |
MASTER
PAYER |
|
|
Owned
by |
|
|
|
Value |
|
|
|
Bond |
|
|
|
Bank |
|
|
|
Lease
Agreement |
|
|
|
Lease
Expire Date |
|
|
|
Type
of Premises |
WARE
HOUSES |
|
|
Comment |
|
|
|
|
||
|
Branches
Owned/ Rented |
Leased |
|
|
Rental
Company |
BLUE
SKY |
|
|
Owned
by |
|
|
|
Value |
|
|
|
Bond |
|
|
|
Bank |
|
|
|
Lease
Agreement |
|
|
|
Lease
Expire Date |
|
|
|
Type
of Premises |
WARE
HOUSES |
|
|
Comment |
|
|
Management Overview
Organisation
Chart
|
Level |
Position |
Name |
Comment |
|
1 |
Director |
JEAN-MAURICE EMERY |
|
|
1 |
Director |
BRIAN LEVER |
|
Key Deals - No Information on Record
Company Structure
(Ownership)
Note: One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
100% |
ALLIANCE GRAIN TRADER |
|
|
Trade
References
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial
Bonds |
Comment |
|
1 |
ARCOUAL |
0219811126 |
|
|
|
|
2 |
FIBIRE |
0119081792 |
|
|
|
|
3 |
MINIMAL |
0116647496 |
|
|
|
|
4 |
GIF |
0313049088 |
|
|
|
Trade
References Detail
|
Nr |
Age
of Acc |
Credit
Limit |
Max
Credit |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
|
1 |
12 Years |
R 250000.00 |
|
30 Days |
R100000.00 |
30 Days |
|
|
2 |
16 Years |
|
|
30 Days |
R 300000.00 |
30 Days |
Very Good |
|
3 |
20 Years |
R 60000.00 |
|
30 Days |
R 40000.00 |
30 Days |
Excellent |
|
4 |
10 Years |
R 2000000.00 |
R 3500000.00 |
30 Days |
R1800000.00 |
30 Days |
Very Good |
Adverse
Information on Subject
Judgements - No information on record
BusinessRescue - No Information on Record
Default
Listing - No information on record
Notarial Bonds - No
information on record
Bank information
|
Bank |
FIRST
NATIONAL BANK |
|
Branch |
PRESIDENT
SQUARE |
|
Brach
Code |
|
|
Bank
Account Number |
62066093677 |
|
Type
of Account |
CHEQUE |
|
Account
Name |
ADAVANCE
SEED (PTY)LTD |
|
Overdraft
Facilities |
No |
|
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 estmiates
|
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 |
|
|
Comment |
Credit
Manager has declined to assist with information. |
|
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 |
2 |
|
Average
Age of Active Principals |
46 |
|
Active Principals Principal - 1 of 2 JEAN-MAURICE EMERY |
|
|
Surname |
EMERY |
|
First
Name |
JEAN-MAURICE |
|
Other
Names |
None |
|
Marital
Status |
|
|
ID
Number |
790730 |
|
Verified
ID Number |
|
|
Current
Age |
33 |
|
Designation |
ACCOUNTANT |
|
Status |
Active |
|
Appointment
Date |
2007/12/05 |
|
Physical
Address (at time of Appointment) |
RUE
DE LEVOLE 40, CH 2000, NEUCHATEL, SWITZERLAND, 0000 |
|
Postal
Address |
CHEMINDE
TROS-PORES 11, CH- 2000, NEUCHATEL, SWITZERLAND, 0000 |
|
Current
Tel Number |
Unknown |
|
Cell
number |
Unknown |
|
Shareholding/Membership |
0.0000 |
Principals adverse – No information on record
Business
Information for JEAN-MAURICE EMERY
Principal
Current Business Interests
|
Company
Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
ADVANCE SEED
(PTY)LTD |
M1994/001269/07 |
In Business |
18 Years 5 Months |
0 |
No |
|
LTD%20-%20186556%2012-Jul-2012_files/image001.gif)
Principal Previous Business Interests
Principal Deeds Information Property
Interests for JEAN-MAURICE EMERY
|
Title
Deed No. |
|
Erf/Site
No. |
|
|
Deeds
Office |
|
Physical
Address |
|
|
Property
Type |
|
Extent
/ Size |
|
|
Purchase
Date |
|
Purchase
price |
|
|
%
Ownership |
|
Bond
Holder |
|
|
Bond
Number |
|
Bond
Amount |
|
|
Comment |
|
||
Principal - 2 of 2
BRIAN LEVER
|
Surname |
LEVER |
|
First
Name |
BRIAN |
|
Other
Names |
None |
|
Marital
Status |
|
|
ID
Number |
5207245051004 |
|
Verified
ID Number |
Yes |
|
Current
Age |
60 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment
Date |
1995/01/09 |
|
Physical
Address (at time of Appointment) |
82-9DE
STRAAT, ORANGE GROVE, 2192 |
|
Postal
Address |
P
O BOX 763, RIVONIA, 2128 |
|
Current
Tel Number |
0117625261 |
|
Cell
number |
0832515631 |
|
Shareholding/Membership |
0.0000 |
Principals adverse – No information on record
Business
Information for BRIAN LEVER
Principal
Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
EURO AFRICA MANUFACTURING (PTY)LTD |
2000/019879/07 |
Deregistration
Process |
11
Years 11 Months |
0 |
No |
|
|
SOUTH
AFRICAN NATIONAL SEED ORGANIZATION |
M1989/003392/08 |
In
Business |
23
Years 1 Months |
0 |
No |
|
|
ADVANCE
SEED (PTY)LTD |
M1994/001269/07 |
In
Business |
18
Years 5 Months |
0 |
No |
|
|
POUYOUKAS FOODS
(PTY)LTD |
M1996/008028/07 |
In
Business |
16
Years 1 Months |
0 |
No |
|
Principal
Previous Business Interests
Average
Age of Previous Business 14
Years
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
EURO AFRICA
PREPACKS(PTY)LTD |
1995/002537/07 |
Deregistration
Final |
17
Years 4 Months |
0 |
No |
|
|
KWAZULU HYBRID
SEEDS (PTY)LTD |
1995/011796/07 |
In
Business |
16
Years 8 Months |
0 |
No |
|
|
HENTIQ 2414
(PTY)LTD |
2000/006381/07 |
Deregistration
Final |
12
Years 3 Months |
0 |
No |
|
|
SEED AND GRAIN PRODUCTION (PTY)LTD |
2001/021329/07 |
Deregistration
Final |
10
Years 10 Months |
0 |
No |
|
|
EURO-AFRICA
(PTY)LTD |
M1994/001383/07 |
Deregistration
Final |
18
Years 5 Months |
0 |
No |
|
Principal Deeds Information
Property
Interests for BRIAN LEVER
|
Title
Deed No. |
ST5590/2008 |
Erf/Site
No. |
3289,0 |
|
Deeds
Office |
JOHANNESBURG |
Physical
Address |
48
STIEMENS JOHANNESBURG JOHANNESBURG |
|
Property
Type |
Sectional
Title / Unit |
Extent
/ Size |
50.0SQM |
|
Purchase
Date |
2007/10/25 |
Purchase
price |
|
|
%
Ownership |
0.00 |
Bond
Holder |
A
B S A BANK LTD |
|
Bond
Number |
SB79862008 |
Bond
Amount |
|
Property
Interests for BRIAN LEVER
|
Title
Deed No. |
ST2609/2005 |
Erf/Site
No. |
63,0 |
|
Deeds
Office |
JOHANNESBURG |
Physical
Address |
8 STANLEY
BRAAMFONTEIN WERF JOHANNESBURG |
|
Property
Type |
Sectional
Title / Unit |
Extent
/ Size |
49.0SQM |
|
Purchase
Date |
2004/01/15 |
Purchase
price |
|
|
%
Ownership |
0.00 |
Bond
Holder |
A
B S A BANK LTD |
|
Bond
Number |
SB34702005 |
Bond
Amount |
|
|
Comment |
|
||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.37 |
|
UK Pound |
1 |
Rs.85.95 |
|
Euro |
1 |
Rs.67.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.