MIRA INFORM REPORT

 

 

 

 

Report Date :

21.06.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

HANSA FLEX (SA) (PTY) LTD

 

 

Registered Office :

39 Spartan Road, Spartan

 

 

Country :

South Africa

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

11.05.2001

 

 

Com. Reg. No.:

2001/010703/07

 

 

Legal Form :

Private Company

 

 

Line of Business :

Manufacture of electronic valves and tubes and other electronic components

 

 

No. of Employees :

94

 

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 :

Good

 

 

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

HANSA FLEX (SA) (PTY) LTD

Country

SOUTH AFRICA

Subject Contact person

NAOMH ODDIE-011 3942966

 

 

 

Assessment

 

 

 

Total Credit Limit Exposure: R 645 000.00

 

On the investigation we established this is large company

 

The subject is meeting commitments timeously with suppliers.

 

A bank code revealed that the subject would be considered as equal to R 2 000 000 over 30 days.

 

The subject is considered as equal to its normal business engagements.

 

 

 

 

 

 

 

 

 

Company Information

 

Registered Name

HANSA FLEX (SA) (PTY) LTD

Trading as/ Division Name

HST HANSA-FLEX (SA)

Previous Name

None

Date of Name Change

None

Registration Number

2001/010703/07

Registration Date

2001-05-11

Date Commenced Trading

2001-05-11

Age of Business

11 Years 1 Months

History of Business

HANSA-FLEX celebrates its 50th anniversary. 3,000 employees generated a record turnover of €344 million in the 2011 business year. In 39 countries HANSA-FLEX operates 384 branches. Worldwide there are 269 FLEXXPRESS vehicles in use.

History of Principals

None

Shareholders/Members/Partners of subject and  % holding

Deemed Confidential

Authorised Share Capital

R 1000

Issued Share Capital/Members Contribution

R 100

Status

This Business is Active

Operations Assessment

Hydraulic Fittings

Industry/ Customers

Public

Export

Germany etc.

Major Industry Code / SICC

3710

Definition of Code

MANUFACTURE OF ELECTRONIC VALVES AND TUBES AND OTHER ELECTRONIC COMPONENTS

Head Office Physical Address

 

 

39 Spartan Road

SPARTAN

1600

Head Office Postal Address

 

 

 

PO Box 301

KEMPTON PARK

1620

Current Tel Number

011 3942966

Cell number

083 4467746

Current Fax Number

011 9757213

Current Email Address

n.oddie@hansa-flex.com

Web Site Address

www.hst.co.za

 

 

Auditors Information

 

Company Registered Name

CBB RODL & PARTNER INC.

Trading Name

None

Registration Number

2009/018983/21

Physical Address

1 Eastgate Lane

BEDFORDVIEW

2007

Postal Address

P.O.Box 346

BEDFORDVIEW

2008

Contact Person

NATALIE BROUWER

Contact Number

011 479 3000

Email

natalie.bouwer@roedl.co.za

Principals

Unavailable

Judgements Against Subject

None

Judgements Against Principals

None

Subject Verified as Client

Yes

SAICA number

Unavailable

VAT Number

4430193666

Tax Number

Unavailable

BEE Status

Level 6

Financial Year End

December

Years With Auditors

2 Years

Website

None

 

Previous Auditors

Company Name

Phone Number

Time with previous auditors

L.G.EDWARDS AUDITORS

011 425 6021

2 YEARS

 

 

Tax Information

 

Vat Number

4430193666

Status

Active

Vat Liable Date

2001-07-01

Tax Number

9214297146

Tax Clearance Expire Date

Unavailable

Financial Year End

December

 

 

Black Economic Empowerment

 

Status

Level7

Score

Generic

Expire Date

21-02-2013

BEE Certificate Available

Yes

 

 

ISO Status

 

Please find the attached ISO certificate.

Type of ISO Grade

ISO 9001:2000

ISO Certificate

Yes

ISO Certificate Available

Yes

Certified by an Accredited Agent

Yes

 

 

Workman’s compensation

 

Registered

Yes

Compliance Certified

Yes

 

 

Company Structure

 

Subsidiaries

 

Subsidiary Company

HANSA-FLEX ZAMBIA

Shareholding

66%

Registration Number

Co.Reg No.93637 Serial 1466592

Import / Export

IMPORT

 

 

Number of Employees

94

1.       Salaried employees

91

2.       Waged employees

 

3.       Permanent employees

 

4.       Casual employees

3

5.       Contracted employees

 

 



Company Fleet

No of vehicles:

Owned/ Leased

Value

Outstanding Balance

Fleet Operations

 

 

 

 

The Fleet is made up of

 

1.       Cars

1

Finance

 

 

2.       Light Delivery Vehicles

17

Owned/ Finance

 

 

 

3.       Trailers

2

Owned

 

 

4.       Busses

 

 

 

 

5.       Trucks

 

 

 

 

6.       Fork Lifts

1

Owned

 

 

7.       Other

 

 

 

 

 

Offices

Warehouse/Offices


Head Office Owned/ Rented

OWNED BY SHAREHOLDERS

Rental Company

 

Owned by

ERF 112 PTY LTD

Value

R11 000 000.00

Bond

R 3 500 000.00

Bank

Standard Bank Ltd

Lease Agreement

 

Lease Expire Date

 

Type of Premises

Warehouse/Offices

 

 

Branches Names

Country

Province

DURBAN

SOUTH AFRICA

KWAZULU NATAL

MIDDLEBURG

SOUTH AFRICA

MPUMALANGA

CAPE TOWN

SOUTH AFRICA

EASTERN CAPE

 


Branches Owned/ Rented

Please find the attached list for branches

Rental Company

 

Owned

 

Value

 

Bank

 

Bond

 

Lease Agreement

 

Lease Expire Date

 

Type of Premises

 

 

Management Overview

 

Organisation chart

Level

Position

Name

1

Director

ROPBERT COOKE

1

Director

MARLENE MC LEOD

1

Director

NADMU ODDIE

1

Director

TREVOR OTTO

1

Director

ALLAN BARTRAM

1

Director

ELVIS MABUNDA

1

Director

MARC HELLMANN

 

Company Structure (Ownership)

Note: One level up and all levels down

                        Holding

Company

Sub

Deemed Confidential

 

 

 

 

Trade References

 

Key deals signed within the past 12 months.

Company

Value

Contact

None

 

 

 

Trade Reference nr

Supplier

Contact

1

M.F.AUTOLINES

011 4524566

        2 

H.A.W.

011 2813800

3

RAND BUILDINGS

011 3943477

4

HYDRAULIC COMPONENTS

011 2556500

5

FORMAX

011 7986654

 

Trade References Detail

Nr

Age of Acc

Credit Limit

Max Credit

Terms

Average Purchases

Terms Taken

Comment

1

8 Years

R 100 000.00

R 80 000.00

30 Days

R 20 000.00

30 Days

Excellent

2

8 Years

R 145 000.00

R 98 000.00

30 Days

R 7 000.00

 

30 Days

Excellent

3

8 Years

R 350 000.00

R 200 000.00

30 Days

R 200 000.00

30 Days

Excellent

4

8 Years

Open Account

R 20 000

30 Days

R 20 000

30 Days

Very Good

5

3 Years

R 50 000.00

R 10 000.00

30 Days

R 7 000.00

30 Days

Very Good

 

 

Adverse Information on Subject

 

Judgements

Judgements

None

Possible Judgements

None

Civil Court Records

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

Festival Mall Kempton Park

Bank Account Number

060629150

Type of Account

BUSINESS CHEQUE/CURRENT

Account Name

HANSA-FLEX SA PTY LTD

Overdraft Facilities

R8 000 000.00

Date Opened

Unavailable

Bank Code

Cfor R 2 000 000.00

Bank Comment

 

The subjects bankers consider them as equal to their 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

SEE FINANCIAL ATTACHED DEC’11

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

 

 

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

7

Average Age of Active Principals

54

 

Active Principals

 

Principal 1 of 7: ROBERT COOKE

Surname

COOKE

First Name

ROBERT

Other Names

None

Marital Status

Married

ID Number

4804185068088

Verified ID Number

Yes

Current Age

64

Designation

Director

Status

Active

Appointment Date

2010-02-09

Physical Address (at time of Appointment)

Unit 5, Glenfall Garden

78 Kloofalls Road

KLOOF

3640

Postal Address

Unit 5, Glenfall Garden

78 Kloofalls Road

KLOOF

3640

Current Tel Number

031 7643166

Cell number

083 4834604

Current Fax Number

011 9757213

Current Email Address

Unknown

Shareholding

(if the principal owns shares)

 

Adverse Information for: ROBERT COOKE

 

Judgement

Number of Judgements

None

 

Debt Review

Debt review

None

 

Other

Default data

None

 

Business Information for: ROBERT COOKE

 

Current Business Interests

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

HANSA FLEX (SA) (PTY) LTD

M2001/010703/07

In Business

11 Years

1 Months

0

No

 

Previous Business Interests

Average Age of Previous Business Interests

25 Years

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

HYDRAULIC STEEL TUBE (PTY) LTD

M1987/002904/07

Deregistration

Final

25 Years

0

No

 


Deeds Information

 

Property Interestsfor: ROBERT COOKE

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 7: MARLENE MC LEOD

Surname

MC LEOD

First Name

MARLENE

Other Names

None

Marital Status

Married

ID Number

4303110028085

Verified ID Number

Yes

Current Age

69

Designation

Director

Status

Active

Appointment Date

2010-02-05

Physical Address (at time of Appointment)

LOT 819R, Hythe Road

RAMSGATE

4285

Postal Address

PO Box 301

KEMPTON PARK

1620

Current Tel Number

039 3149277

Cell number

083 4778995

Current Fax Number

Unknown

Current Email Address

Unknown

Shareholding

(if the principal owns shares)

 

 

Adverse Information for: MARLENE MC LEOD

 

Judgement

Number of Judgements

None

 

Debt Review

Debt review

None

 

Other

Default data

None

 

Business Information for: MARLENE MC LEOD

 

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

None

 

 

 

 

 

 

Deeds Information

Property Interestsfor: MARLENE MC LEOD

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 3 of 7:NAOMH ODDIE

Surname

ODDIE

First Name

NAOMH

Other Names

MARGRET

Marital Status

 

ID Number

5610030721188

Verified ID Number

Yes

Current Age

56

Designation

Director

Status

Active

Appointment Date

2010-02-09

Physical Address (at time of Appointment)

10Brink Street

POMONA

KEMPTON PARK

1619

Postal Address

PO Box 301

KEMPTON PARK

1620

Current Tel Number

039 3149277

Cell number

083 4467746

Current Fax Number

011 9757213

Current Email Address

Unavailable

Shareholding

(if the principal owns shares)

 

Adverse Information for: NAOMH ODDIE

 

Judgement

Number of Judgements

None

 

Debt Review

Debt review

None

 

Other

Default data

None

 

Business Information for: NADMU ODDIE

 

Current Business Interests

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

NHWANANO (PTY) LTD

M2004/036057/07

In Business

7 Years

6 Months

0

No

 

Previous Business Interests

Average Age of Previous Business Interests

25 Years

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

HYDRAULIC STEEL TUBE (PTY) LTD

M1987/002904/07

Deregistration

Final

25 Years

0

No

 

Deeds Information

 

Property Interestsfor: NAOMH ODDIE

Title Deed No.

T24304/2005

Erf/Site No.

 

Deeds Office

PIETERMARITZBURG

Physical Address

 

Property Type

Freehold/Ervin

Extent / Size

486.0SQM

Purchase Date

2004-12-18

Purchase price

R 850 000.00

% Ownership

0.0000

Bond Holder

STANDARD BANK OF SA

Bond Number

B269042005

Bond Amount

R 600 000.00

 

Principal 4 of 7:TREVOR OTTO

Surname

OTTO

First Name

TREVOR

Other Names

None

Marital Status

Married

ID Number

7211065213080

Verified ID Number

Yes

Current Age

40

Designation

Director

Status

Active

Appointment Date

2010-02-09

Physical Address (at time of Appointment)

27 Eastern Avenue

NARKEN PARK

1619

Postal Address

PO Box 301

Kempton park

1620

Current Tel Number

011 9757170

Cell number

0834778992

Current Fax Number

011 9757213

Current Email Address

Unavailable

Shareholding

(if the principal owns shares)

 

Adverse Information for: TREVOR OTTO

 

Judgement

Number of Judgements

None

 

Debt Review

Debt review

None

 

Other

Default data

None

 

Business Information for: TREVOR OTTO

 

Current Business Interests

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

HANSA FLEX (SA) (PTY) LTD

M2001/010703/07

In Business

11 Years

1 Months

0

No

 

Previous Business Interests

Average Age of Previous Business Interests

18 Years

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

GOOD NEWS GOSPEL OUTREACH

2000/011189/08

Deregistration

Final

12 Years

0

No

HYDRAULIC STEEL TUBE (PTY) LTD

M1987/002904/07

Deregistration

Final

25 Years

0

No

 

Deeds Information

 

Property Interestsfor: TREVOR OTTO

Title Deed No.

T27927/2000

Erf/Site No.

 

Deeds Office

PRETORIA

Physical Address

27 EASTON NORKEM PARK KEMPTON

Property Type

Freehold/Ervin

Extent / Size

991.0SQM

Purchase Date

1999-12-09

Purchase price

R 180 000.00

% Ownership

0.0000

Bond Holder

NEDCOR BANK LTD

Bond Number

B163472000

Bond Amount

R 180 000.00

 

Principal 5 of 7: ALLAN BARTRAM

Surname

BARTRAM

First Name

ALLAN

Other Names

None

Marital Status

Married

ID Number

5102125065002

Verified ID Number

Yes

Current Age

61

Designation

Director

Status

Active

Appointment Date

2010-02-09

Physical Address (at time of Appointment)

27 Thornhill Avenue

THORNHILL ESTATE

MODDERFOTEIN

1645

Postal Address

PO Box 301

KEMPTON PARK

1620

Current Tel Number

011 3942966

Cell number

083 4778990

Current Fax Number

011 9757213

Current Email Address

Unavailable

Shareholding

(if the principal owns shares)

 

Adverse Information for: ALLAN BARTRAM

 

Judgement

Number of Judgements

None

 

Debt Review

Debt review

None

 

Other

Default data

None

 

Business Information for: ALLAN BARTRAM

 

Current Business Interests

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

135 BARLETT DEVELOPMENT CC

1990/017661/23

In Business

22 Years

1 Months

0

No

 

Previous Business Interests

Average Age of Previous Business Interests

21 Years

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

159 DRIEFOTEIN DEVELOPMENT CC

1990/023091/23

Deregistration

Final

21 Years

11 Months

0

No

 

Deeds Information

 

Property Interestsfor: ALLAN BARTRAM

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 6 of 7:ELVIS MABUNDA

Surname

MABUNDA

First Name

ELVIS

Other Names

None

Marital Status

Married

ID Number

5206235762083

Verified ID Number

Yes

Current Age

60

Designation

Director

Status

Active

Appointment Date

2009-09-01

Physical Address (at time of Appointment)

214 Nxweni Section

KEMPTON PARK

TEMBISA

1632

Postal Address

PO Box 301

KEMPTON PARK

1620

Current Tel Number

011 9757170

Cell number

011 9757213

Current Fax Number

Unavailable

Current Email Address

Unavailable

Shareholding

(if the principal owns shares)

 

Adverse Information for: ELVIS MABUNDA

 

Judgement

Number of Judgements

None

 

Debt Review

Debt review

None

Other

Default data

None

 

Business Information for: ELVIS MABUNDA

 

Current Business Interests

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

NHWANANO TRADING (PTY) LTD

M2004/036057/07

In Business

7 Years

1 Months

0

No

 

Previous Business Interests

Average Age of Previous Business Interests

25 Years

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

HYDRAULIC STEEL TUBE (PTY) LTD

M1987/002904/07

Deregistration

Final

25 Years

0

No

 

Deeds Information

 

Property Interestsfor: ELVIS MABUNDA

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 7 of 7: MARC HELLMANN

Surname

HELLMANN

First Name

MARC

Other Names

None

Marital Status

Married

ID Number

7806130000000

Verified ID Number

No

Current Age

34

Designation

Director

Status

Active

Appointment Date

2006-05-10

Physical Address (at time of Appointment)

3-5 Rundle Street

SIDWELL

PORT ELIZABETH

6001

Postal Address

PO Box 1505

PORT ELIZABETH

6000

Current Tel Number

011 3942966

Cell number

None

Current Fax Number

011 9757213

Current Email Address

None

Shareholding

(if the principal owns shares)

 

 

Adverse Information for: MARC HELLMANN

 

Judgement

Number of Judgements

None

 

Debt Review

Debt review

None

 

Other

Default data

None

 

Business Information for: MARC HELLMANN

 

Current Business Interests

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

HANSA FLEX (SA) (PTY) LTD

M2001/010703/07

In Business

11 Years

1 Months

0

No

 

Previous Business Interests

Average Age of Previous Business Interests

None

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

None

 

 

 

 

 

 

Deeds Information

 

Property Interestsfor: MARC HELLMANN

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.55.86

UK Pound

1

Rs.87.93

Euro

1

Rs.70.88

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.