MIRA INFORM REPORT

Report Date :

30.06.2012

IDENTIFICATION DETAILS

Name :	NEW ENTERPRISE TRADING (PTY) LTD

Registered Office :	Suite 2 Ferndalemews 15 Dover Street Randburg Johannesburg 2125

Country :	South Africa

Financials (as on) :	30.06.2011

Date of Incorporation :	10.12.2002

Com. Reg. No.:	2002/031189/07

Legal Form :	Private Limited

Line of Business :	Service Activities Incidental To Mining of Minerals

No. of Employees :	21

RATING & COMMENTS

MIRA’s Rating :

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 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

South Africa

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Summary

Subject Name	NEW ENTERPRISE TRADING (PTY) LTD
Country	SOUTH AFRICA
Subject Contact person	LENNY – Financial Manager
Assessment	On investigation we made contact with LENNY the financial manager for the subject who assisted with the information. This appears to be an established company dating back over 10 years with a revenue of over R 170 000 000 for the year 2011. We await a bank code and trade references. Please see the 2011 financials attached. Please see the available information for the subject below.

Auditors Information

Company Registered Name	MAZARS (Partnership)
Trading Name	None
Registration Number	Unavailable
Physical Address	Mazars House, 5 St Davids Place Parktown JOHANNESBURG 2193 SOUTH AFRICA
Postal Address	P O Box 6697 JOHANNESBURG 2000 SOUTH AFRICA
Contact Person	FAEEZA ASMAIL
Contact Number	011 5474000
Email	jhb@mazars.co.za
Principals	11 Partners
Judgements Against Subject	None
Judgements Against Principals	Unavailable
Subject Verified as Client	Yes
Profession Number	900222
VAT Number	4570113862
Tax Number	9060360030
BEE Status	Level 3
Financial Year End	August
Years With Auditors	Unavailable
Website	www.mazars.co.za

Previous Auditors

Company Name	Phone Number	Time with previous auditors
LEVENSTEIN AND PARTNERS	Unavailable	Unknown
PRICEWATERHOUSECOOPERS INC	Unavailable	9 Years
MERVITZ MALAN INCORPORATED	Unavailable	Unknown

Tax Information

Vat Number	4320205794
Status	Active
Vat Liable Date	2003-01-01
Tax Number	9169486157
Tax Clearance Expire Date	Unavailable
Financial Year End	June

Black Economic Empowerment

Status

None

ISO Status

Type of ISO Grade

None

Workman’s compensation

Registered	Yes
Compliance Certified	Yes

Company Structure

Subsidiaries

Subsidiary Company	None
Shareholding
Registration Number
Import / Export

Number of Employees	21
1. Salaried employees	21
2. Permanent employees	21

Company Fleet	No of vehicles:	Owned/ Leased	Value	Outstanding Balance
Fleet Operations
The Fleet is made up of	3 Vehicles
1. Light Delivery Vehicles	1	Owned
2. Trucks	2	Leased

Offices
Head Office Owned/ Leased	Leased
Rental Company	SHUMBA INVESTMENT HOLDINGS
Lease Agreement	5 Years
Lease Expire Date	2014
Type of Premises	Offices

Branches Names	Country	Province
None

Branches Owned/ Rented
Rental Company
Owned
Value
Bank
Bond
Lease Agreement
Lease Expire Date
Type of Premises

Management Overview

Organisation chart

Level

Position

Name

Director

MR. M. G. STEVENSON

MR. G. PADMORE

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub
50 %	NEW ENTERPRISE TRADING (PTY) LTD	None
50 %	NEW ENTERPRISE TRADING (PTY) LTD	None

Trade References

Key deals signed within the past 12 months.

Company	Value	Contact
Confidential

Trade Reference nr	Supplier	Contact
1	PREDATOR PUMPS	011 4656995 NEVILLE
2	XPRESS ELECTRICAL	011 4351815 KIASHEN
3	BOART LONGYEAR	011 7679408 VERONICA
4	MAXAM DANTEX	011 8311307 COLLEEN

Trade References Detail

Awaiting Further Information From Suppliers

Nr	Age of Acc	Credit Limit	Max Credit	Terms	Average Purchases	Terms Taken	Comment
1
2
3
4

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	RANDBURG
Bank Account Number	021619204
Type of Account	Current
Account Name	NEW ENTERPRISE TRADING
Overdraft Facilities	Yes
Date Opened	Unavailable
Bank Code	Awaiting 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

Previous Bank Accounts

Banker	Branch Code	Account Holder	Account number	Date opened	Years with bank
None

Deeds Information

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 Information

Financial Estimates

PLEASE SEE FINANCIALS ATTACHED

CURRENT ASSETS

Please see attached.

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	44

Active Principals

Principal 1 of 2: MICHEAL GERHARD STEVENSON

Surname	STEVENSON
First Name	MICHEAL
Other Names	GERHARD
Marital Status	Unavailable
ID Number	6310080000000
Verified ID Number	No
Current Age	49
Designation	Director
Status	Active
Appointment Date	Unavailable
Physical Address (at time of Appointment)	17 Taaibos Avenue Gallo Manor SANDTON 2052
Postal Address	PO Box 2339 RANDBURG 2125
Current Tel Number	011 7811602
Cell number	082 4192583 – STEVENSON
Current Fax Number	011 3264214
Current Email Address	info@newent.co.za
Shareholding	50 %

Adverse Information for: MICHEAL GERHARD STEVENSON

Judgement

Number of Judgements

None

Debt Review

Debt review

None

Other

Default data

None

Business Information for: MICHEAL GERHARD STEVENSON

Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation
NEW ENTERPRISE TRADING (PTY) LTD	2002/031189/07	In Business	9 Years 6 Months	0	No
SHUMBA INVESTMENT HOLDINGS (PTY) LTD	2003/001883/07	In Business	9 Years 5 Months	0	No
NET MINTRADE SERVICES (PTY) LTD	2008/018242/07	In Business	3 Years 11 Months	0	No
EPSIMIX (PTY)LTD	2009/015154/07	In Business	2 Years 10 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 Interests for: MICHEAL GERHARD STEVENSON

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 2: GARY PADMORE

Surname	PADMORE
First Name	GARY
Other Names	None
Marital Status	Single
ID Number	7201285306087
Verified ID Number	Yes
Current Age	40
Designation	Director
Status	Active
Appointment Date	Unavailable
Physical Address (at time of Appointment)	1 11B Outspan Road Riverclub SANDTON 2196
Postal Address	PO Box 2339 RANDBURG 2125
Current Tel Number	011 7811602
Cell number	082 4192583 – STEVENSON
Current Fax Number	011 3264214
Current Email Address	info@newent.co.za
Shareholding	50 %

Adverse Information for: GARY PADMORE

Judgement

Number of Judgements

None

Debt Review

Debt review

None

Other

Default data

None

Business Information for: GARY PADMORE

Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation
NEW ENTERPRISE TRADING (PTY) LTD	2002/031189/07	In Business	9 Years 6 Months	0	No
SHUMBA INVESTMENT HOLDINGS (PTY) LTD	2003/001883/07	In Business	9 Years 5 Months	0	No
NET MINTRADE SERVICES (PTY) LTD	2008/018242/07	In Business	3 Years 11 Months	0	No
EPSIMIX (PTY)LTD	2009/015154/07	In Business	2 Years 10 Months	0	No
K201113141 (SOUTH AFRICA) (PTY) LTD	K2011/134141/07	In Business	7 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 Interests for: GARY PADMORE

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.56.31
UK Pound	1	Rs.88.06
Euro	1	Rs.70.91

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 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.

Registered Name	NEW ENTERPRISE TRADING (PTY) LTD
Trading as/ Division Name	None
Previous Name	None
Date of Name Change	None
Registration Number	2002/031189/07
Registration Date	2002-12-10
Date Commenced Trading	2003-06-01
Age of Business	9 Years 6 Months
History of Business	The subject was established as a new business in December 2002 and commenced trading in June 2003.
History of Principals	There are currently 2 active directors.
Shareholders and % holding	50 % - MR. M. G. STEVENSON 50 % - MR. G. PADMORE
Authorised Share Capital	R 1000
Issued Share Capital	R 100
Status	In Business
Operations Assessment	Mining and procurement
Industry/ Customers	Mining
Export	Yes Throughout Africa
Major Industry Code / SICC	29000
Definition of Code	SERVICE ACTIVITIES INCIDENTAL TO MINING OF MINERALS
Head Office Physical Address	Suite 2 Ferndalemews 15 Dover Street Randburg JOHANNESBURG 2125
Head Office Postal Address	PO Box 2339 Randburg JOHANNESBURG 2000
Current Tel Number	011 7811602
Cell number	082 4192583 – STEVENSON
Current Fax Number	011 3264214
Current Email Address	info@newent.co.za
Web Site Address	None

MIRA INFORM REPORT

Summary

Company Information

Auditors Information

Previous Auditors

Tax Information

Black Economic Empowerment

ISO Status

Workman’s compensation

Company Structure

Management Overview

Organisation chart

Company Structure (Ownership)

Trade References

Key deals signed within the past 12 months.

Deeds Information

Financial Information

Deeds Information

Deeds Information

Unit