|
Report Date : |
15.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
JAG TEXTILES (PTY) LTD |
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|
Registered Office : |
1360 |
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Country : |
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Date of Incorporation : |
27.09.2011 |
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Com. Reg. No.: |
K2011/120390/07 |
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|
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|
Legal Form : |
Private Company |
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|
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|
Line of Business : |
Manufacture
and import of Raw Materials and Home textiles |
|
|
|
|
No. of Employees : |
65 |
RATING & COMMENTS
|
MIRAs Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New Company |
|
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 March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Subject Name |
JAG
TEXTILES (PTY) LTD |
|
Country |
|
|
Requested Credit Limit |
$
150 000 000 |
|
Enquiry Terms |
D/A |
|
Account Review |
Every
six months |
|
Subject Contact person |
ABDOOL
VALODIA DIRECTOR ( 083 490 6551) |
|
Assessment |
On
investigation we made contact with the subject and we were referred to the
Director Mr ABDOOL VALODIA. He
has assisted us with all the information required. The
subject is meeting commitments
timeously with suppliers We
have obtained a bank code F for R 4.500
000 on the subject. Please
see available information on the subject below. |
|
Registered Name |
JAG TEXTILES (PTY) LTD |
|
Trading as/ Division Name |
JAG
TEXTILES |
|
Previous Name |
None |
|
Date of Name Change |
None |
|
Registration Number |
K2011/120390/07 |
|
Registration Date |
2011/09/27 |
|
Date Commenced Trading |
2011/09/27 |
|
Age of Business |
9 Months |
|
History of Business |
Started as a new business in 2011 and had a change of ownership. |
|
History of Principals |
1 Active
Director. He was appointed on the 2012/06/01 |
|
Shareholders and % holding |
100% - ABDOOL VALODIA |
|
Authorised Share Capital |
R 100 |
|
Issued Share Capital |
R 100 |
|
Status |
In Business |
|
Operations Assessment |
Manufacture
and import of Raw Materials and Home textiles. |
|
Industry/ Customers |
Mr Price Sheet, Edcon. |
|
Export |
None |
|
Major Industry Code / SICC |
3111 |
|
Definition of Code |
Preparation
and spinning of textile fibres weaving of textiles |
|
Head Office Physical Address |
1360 MOBENI KWA-ZULU 4052 |
|
Head Office Postal Address |
1360 MOBENI KWA-ZULU 4052 |
|
Current Tel Number |
031 4628592 |
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Cell number |
0834906551 |
|
Current Fax Number |
031 4625147 |
|
Current Email Address |
abdool@jagtextiles.co.za |
|
Web Site Address |
None |
|
Company Registered Name |
SAB&T |
|
Trading Name |
SAB&T |
|
Registration Number |
Partnership
|
|
Physical Address |
Sherwood 4091 |
|
Postal Address |
Mayville 4058 |
|
Contact Person |
DILIP R
NATHOO |
|
Contact Number |
031 275
9400 |
|
Email |
dilip@sabtdbn.co.za |
|
Principals |
2 |
|
Judgements Against Subject |
None |
|
Judgements Against Principals |
None |
|
Subject Verified as Client |
Yes |
|
Profession Number |
903773 |
|
VAT Number |
4160255750 |
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Tax Number |
Unavailable |
|
BEE Status |
Level 1 |
|
Financial Year End |
February |
|
Years With Auditors |
9 Months |
|
Website |
None |
|
Company Name |
Phone Number |
Time with previous auditors |
|
Unavailable |
|
|
|
Vat Number |
4270259379 |
|
Status |
Active |
|
Vat Liable Date |
Unavailable |
|
Tax Number |
9028171222 |
|
Tax Clearance Expire Date |
2013/04/04 |
|
Financial Year End |
February |
|
Status |
Yes |
|
Score |
Level 3 |
|
Expire Date |
2013/02/13 |
|
BEE Certificate Available |
Yes |
|
Type of ISO Grade |
None |
|
ISO Certificate |
|
|
ISO Certificate Available |
|
|
Certified by an Accredited Agent |
|
|
Registered |
Yes |
|
Compliance Certified |
Yes |
Subsidiaries
|
Subsidiary Company |
None |
|
Shareholding |
|
|
Registration Number |
|
|
Import / Export |
|
|
Number of
Employees |
65 |
|
1. Salaried
employees |
6 |
|
2. Waged
employees |
59 |
|
3. Permanent
employees |
65 |
Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
|
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|
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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 |
|
Head Office Owned/ Rented |
Rented |
|
Rental Company |
CHERRY
THREE INVESTMENTS SIX (PTY)LTD |
|
Owned by |
|
|
Value |
|
|
Bond |
|
|
Bank |
|
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Lease Agreement |
3 Years |
|
Lease Expire Date |
2016
January |
|
Type of Premises |
Factory,
Warehouses and Offices |
|
Branches Names |
Country |
Province |
|
None |
|
|
|
Level |
Position |
Name |
|
1 |
Director |
ABDOOL VALODIA |
Note: One level up and
all levels down
|
Holding |
Company |
Sub |
|
100% - ABDOOL
VALODIA |
JAG TEXTILES
(PTY) LTD |
None |
|
Company |
Value |
Contact |
|
None |
|
|
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
|
1 |
SUPER
FOAM CC |
083 817
1492 |
None |
None |
|
2 |
SJ
WHOLESALERS |
031 462 8592 |
None |
None |
|
3 |
NOT SO FAST
LOGISTICS |
083 7792 109 |
None |
None |
|
4 |
TREDDY
TEXTILES |
011 787
1052 |
None |
None |
Trade References Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
4 Months |
Open |
R 1.200 000 |
30 Days |
R 400 000
R 500 000 |
30 Days |
Very Good |
|
2 |
6 Months |
Open |
R 4 000 000 |
30 Days |
R
3 000 000 R 4 000 000 |
30 Days |
Excellent |
|
3 |
5 Months |
R 200 000 |
R 200 000 |
30 Days |
R 150 000
R 200 000 |
30 Days |
Good |
|
4 |
6 Months |
Open |
R 4.500 000 |
60 Days |
R 1.5
000 000 R 2 000 000 |
60 Days |
Excellent |
Adverse Information on Subject
Judgement
|
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 |
ABSA |
|
Branch |
Lucia |
|
Bank Account Number |
4078460141 |
|
Type of Account |
Current |
|
Account Name |
JAG
TEXTILES (PTY) LTD |
|
Overdraft Facilities |
No |
|
Date Opened |
Unavailable |
|
Bank Code |
F |
|
Bank Comment |
The subjects
bankers advise that their financial position is unknown and they are unable
to comment |
Bank Codes History
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RDs |
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 |
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|
|
|
|
Property Interests for 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 Estimates
|
CURRENT ASSETS |
|
|
Stock |
R 2 000 000 |
|
Debtors |
R 200 000 |
|
FIXED ASSETS |
Unavailable |
|
Plant, Equipment, Vehicles |
R 250 000 |
|
Property |
Unavailable |
|
CURRENT LIABILITIES |
Unavailable |
|
Creditors |
Unavailable |
|
Loans/ From? |
R 3 000 000 - ABSA |
|
LONG TERM LIABILITIES |
Unavailable |
|
Morgage Bonds |
Unavailable |
|
Previous Year Turnover |
R
6 000 000 |
|
Estimated Current Year Turnover |
Unavailable |
|
Current Turnover per month |
R 2.500
000 |
|
Current Turnover per annum |
Unavailable |
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 |
47 |
Active Principals
Principal 1 of 1: ABDOOL SAMAD VALODIA
|
Surname |
VALODIA |
|
First Name |
ABDOOL |
|
Other Names |
SAMAD |
|
Marital Status |
Married |
|
ID Number |
6505105079083 |
|
Verified ID Number |
Yes |
|
Current Age |
47 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2012/06/01 |
|
Physical Address (at time of Appointment) |
345 West
Road Overport DURBAN |
|
Postal Address |
PO Box
52 OVERPORT 4000 |
|
Current Tel Number |
031 490
6551 |
|
Cell number |
083 490
6551 |
|
Current Fax Number |
031 4625147 |
|
Current Email Address |
abdool@jagtextiles.co.za |
|
Shareholding |
100% |
Adverse Information for: ABDOOL VALODIA
Judgement
|
Number of
Judgements |
None |
Debt
Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information for: ABDOOL VALODIA
Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
JAG TEXTILES (PTY) LTD |
K2011/120390/07 |
In Business |
9 Months |
0 |
No |
|
PARLOCK
TRADING CC |
2006/055959/23 |
In Business |
6 Years 2 Months |
0 |
No |
|
WELLWORKS
INVESTMENTS CC |
2005/071915/23 |
Deregistration Process |
7 Years |
0 |
No |
Previous
Business Interests
|
Average Age of
Previous Business Interests |
14 Years |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
AFRICA TRADE
2059 INVESTMENTS CC |
1998/032004/23 |
Deregistration Final |
14 Years |
0 |
No |
|
SUPER TRADE
2058 CC |
1998/022309/23 |
Deregistration
Final |
14 Years 2 Months |
0 |
No |
|
|
|
|
|
|
|
Property
Interests for: :ABDOOL VALODIA
|
Title Deed No. |
T67324/2004 |
Erf/Site No. |
|
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
345 WEST
SYDENHAM BEREA |
|
Property Type |
Freehold /
Ervin |
Extent / Size |
958.0SQM |
|
Purchase Date |
2004-09-30 |
Purchase price |
R 713 000 |
|
% Ownership |
|
Bond Holder |
STANDARD BANK
OF SOUTH AFRICA |
|
Bond Number |
B293352003 |
Bond Amount |
R 960 000 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.79 |
|
|
1 |
Rs.86.37 |
|
Euro |
1 |
Rs.70.07 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.