|
Report Date : |
30.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
ROSY BLUE TRADING (PTY) LTD |
|
|
|
|
Registered Office : |
8 Greenstone Hill Ext 22, Edenvale 1609 |
|
|
|
|
Country : |
|
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|
|
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Date of Incorporation : |
10.05.1988 |
|
|
|
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Com. Reg. No.: |
M1988/002681/07 |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Diamond cutting
and polishing |
|
|
|
|
No. of Employees : |
22 |
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 – 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 |
|
Subject Name |
ROSY
BLUE TRADING (PTY) LTD |
|
Country |
SOUTH
AFRICA |
|
Enquiry Terms |
30
DAYS |
|
Account Review |
6
MONTHS |
|
Subject Contact person |
SAMAR BAUL-011 3345253 |
|
Assessment |
On
investigation it was established that this large company. The
subject is meeting commitments with
suppliers. A bank
code revealed that the subject would be considered as equal to
R1 500 000 over 30 days. Your
figure is considered as too high |
|
Registered Name |
ROSYBLUE TRADING (PTY) LTD |
|
Trading as/ Division Name |
None |
|
Previous Name |
None |
|
Date of Name Change |
None |
|
Registration Number |
M1988/002681/07 |
|
Registration Date |
1988-05-10 |
|
Date Commenced Trading |
1988-05-10 |
|
Age of Business |
23 Years 10 Months |
|
History of Business |
Rosy Blue is one of the world’s foremost
diamantaires, with a long and distinguished history of excellence in the
diamond industry. Rosy Blue is a global leader in the manufacture of
high-quality polished diamonds and finished jewellery. |
|
History of Principals |
None |
|
Shareholders/Members/Partners
of subject and % holding |
100% ROSYBLUE
DIAMONDS (PTY) LTD |
|
Authorised Share Capital |
None |
|
Issued Share Capital/Members
Contribution |
None |
|
Status |
This Business is Active |
|
Operations Assessment |
Trading in diamonds |
|
Industry/ Customers |
Jewellery retailers and
wholesalers |
|
Export |
India, Israel, Belguim, Japan,
China, USA etc. |
|
Major Industry Code / SICC |
39212 |
|
Definition of Code |
Diamond cutting and polishing |
|
Head Office Physical Address |
230 Main Street JOHANNESBURG 2001 |
|
Head Office Postal Address |
PO Box 2326 JOHANNESBURG 2000 |
|
Current Tel Number |
011 3345253 |
|
Cell number |
Unavailable |
|
Current Fax Number |
011 3345251 |
|
Current Email Address |
|
|
Web Site Address |
|
Company Registered Name |
TUFFIAS SANDBERG KSI |
|
Trading Name |
TUFFIAS SANDBERG KSI |
|
Registration Number |
2000/021861/07 |
|
Physical Address |
8 Greenstone Hill Ext 22 EDENVALE 1609 |
|
Postal Address |
POSTNET SUITE NO 223 PRIVATE BAG X10010 EDENVALE 1610 |
|
Contact Person |
ASHLEY/ RYAN |
|
Contact Number |
011 5249700 |
|
Email |
Unavailable |
|
Principals |
Unavailable |
|
Judgements Against Subject |
None |
|
Judgements Against Principals |
None |
|
Subject Verified as Client |
Yes |
|
SAICA number |
906840E |
|
VAT Number |
Unavailable |
|
Tax Number |
9600078142 |
|
BEE Status |
Unavailable |
|
Financial Year End |
February |
|
Years With Auditors |
8YEARS |
|
Website |
None |
|
Company Name |
Phone Number |
Time with previous auditors |
|
HPJ
INCORPORATED |
|
24 Years |
|
Vat Number |
4450103066 |
|
Status |
Active |
|
Vat Liable Date |
4450103066 |
|
Tax Number |
9362181845 |
|
Tax Clearance Expire Date |
Unavailable |
|
Financial Year End |
December |
|
Status |
Yes |
|
Score |
Level 4 |
|
Expire Date |
Unavailable |
|
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 |
22 |
|
1. Salaried employees |
10 |
|
2. Waged employees |
2 |
|
3. Permanent employees |
10 |
|
4. Casual employees |
|
|
5. Contracted employees |
|
Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
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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 |
Offices |
Head Office Owned/ Rented |
Owned |
|
Rental Company |
|
|
Owned by |
Unavailable |
|
Value |
|
|
Bond |
|
|
Bank |
|
|
Lease Agreement |
|
|
Lease Expire Date |
|
|
Type of Premises |
Offices |
|
Branches Names |
Country |
Province |
|
None |
|
|
Branches Owned/ Rented |
None |
|
Rental Company |
|
|
Owned |
|
|
Value |
|
|
Bank |
|
|
Bond |
|
|
Lease Agreement |
|
|
Lease Expire Date |
|
|
Type of Premises |
|
Organisation
chart
|
Level |
Position |
Name |
|
1 |
DIRECTOR |
BRIAN DINNES |
|
1 |
DIRECTOR |
ANDREW DINNES |
Note: One level up and all levels down
|
Holding |
Company |
Sub |
|
100% |
ROSY BLUE DIAMONDS |
Unknown |
Key deals signed within the past 12 months.
|
Company |
Value |
Contact |
|
None |
|
|
|
|
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|
Trade Reference nr |
Supplier |
Contact |
|
1 |
PETRA DIAMONDS |
011 7026900 |
|
2
|
NATIONAL DIAMONDS |
011 5962600 |
|
3 |
POGGENENPOEL DIAMONDS |
011 3340336 |
|
4 |
ALEX KOR |
011 8318328 |
Trade References Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
Do |
Not |
Give |
Trade |
Reference |
|
|
|
2 |
Do |
Not |
Give |
Trade |
Reference |
|
|
|
3 |
10 Years |
Open
Account |
|
3
Days |
$
500 000 |
3
Days |
Very Good |
|
4 |
Do |
Not |
Give |
Trade |
Reference |
|
|
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 |
NEDBANK |
|
Branch |
DIAMOND EXCHANGE (193205) |
|
Bank Account Number |
1932253548 |
|
Type of Account |
CURRENT |
|
Account Name |
ROSY BLUE TRADIND (Pty) Ltd. |
|
Overdraft Facilities |
No |
|
Bank Code |
C for R 1 500 000 |
|
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 |
|
|
|
|
|
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 Estimates
|
CURRENT ASSETS |
Deemed confidential |
|
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 |
2 |
|
Average Age of Active Principals |
57 |
Active Principals
Principal
1 of 2: ADITYA MAHENDRA SHAH
|
Surname |
SHAH |
|
First Name |
MAHENDRA |
|
Other Names |
ADITYA |
|
Marital Status |
None |
|
ID Number |
Z1719240 |
|
Verified ID Number |
No |
|
Current Age |
Unknown |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2011-06-09 |
|
Physical Address (at time of
Appointment) |
102 The Regent West Road South MORNINGSIDE 2196 |
|
Postal Address |
PO Box 2326 JOHANNESBURG 2000 |
|
Current Tel Number |
011 3345253 |
|
Cell number |
Unavailable |
|
Current Fax Number |
011 3345251 |
|
Current Email Address |
Unavailable |
|
Shareholding |
(if the principal owns shares) |
Adverse Information for:
ADITYA MAHENDRA SHAH
Judgement
|
Number
of Judgements |
None |
Debt
Review
|
Debt
review |
None |
Other
|
Default
data |
None |
Business Information for:
ADITYA MAHENDRA SHAH
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: ADITYA MAHENDRA SHAH
|
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: SOMEN DAS
|
Surname |
DAS |
|
First Name |
SOMENS |
|
Other Names |
None |
|
Marital Status |
None |
|
ID Number |
5506270000000 |
|
Verified ID Number |
No |
|
Current Age |
57 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2007-01-31 |
|
Physical Address (at time of
Appointment) |
3 San Raphel, 3 Berril Lane SANDOWN 2196 |
|
Postal Address |
PO Box 2326 JOHANNESBURG 2000 |
|
Current Tel Number |
011 3345253 |
|
Cell number |
Unavailable |
|
Current Fax Number |
011 3345251 |
|
Current Email Address |
Unavailable |
|
Shareholding |
(if the principal owns shares) |
Adverse Information for: SOMEN DAS
Judgement
|
Number
of Judgements |
None |
Debt
Review
|
Debt
review |
None |
Other
|
Default
data |
None |
Business Information for: SOMEN DAS
Current
Business Interests
|
Company
Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
|
EPISTEME PARTNERS (PTY) LTD |
2007/030856/07 |
In
Business |
4
Years 5
Months |
0 |
No |
|
ROSY BLUE WIRELESS AFRICA (PTY) LTD |
2007/032193/07 |
In
Business |
4
Years 4
Months |
0 |
No |
|
EPISTEME COAL SA (PTY) LTD |
2008/006308/07 |
In
Business |
4
Years |
0 |
No |
|
ROSYBLUE MANUFACTURING (PTY) LTD |
M1988/002681/07 |
In
Business |
45
Years 6 Months |
0 |
No |
|
ROSY BLUE DIAMONDS JOHANNESBURG (PTY) LTD |
M2003/012502/07 |
In
Business |
8
Years 9
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: SOMEN DAS
|
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 |
|
DIAMOND INDUSTRY –
INDIA
-
From time immemorial, India
is well known in the world as the birthplace for diamonds. It is difficult
to trace the origin of diamonds but history says that in the remote past,
diamonds were mined only in India. Diamond production in India can be traced
back to almost 8th Century B.C. India, in fact, remained
undisputed leader till 18th Century when Brazilian fields were
discovered in 1725 followed by emergence of S. Africa, Russia and Australia.
-
The achievement of the
Indian diamond industry was possible only due to combination of the
manufacturing skills of the Indian workforce and the untiring and unflagging
efforts of the Indian diamantaires, supported by progressive Government
policies.
-
The area of study of family
owned diamond businesses derives its importance from the huge conglomerate of
family run organizations which operate in the diamond industry since many
generations.
-
Some of the basic traits of
family run business enterprises include spirit of entrepreneurship, mutual
trust lowers transaction costs, small, nimble and quick to react, information
as a source of advantage and philanthropy.
-
Family owned diamond
businesses need to improve on many fronts including higher standard of
corporate governance, long-term performance – focused strategies, modern
management and technology.
-
The diamond jewellery
industry in India today may be more than Rs 60000 mil and is rated amongst the
fastest growing in the world. Indi ranks third in the world in domestic
diamond consumption.
-
Utmost caution is to be
exercised while dealing with some medium and large diamond traders which are
usually engaged in fictitious import – export, inter-company transactions,
financially assisted by banks. In the process, several public sector banks lost
several hundred million rupees. They mostly diverted borrowed money for diamond
business into real estate and capital markets.
-
Excerpts from Times of
India dated 30th October 2010 is as under –
DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of losing
Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two months
ago, they had not repaid these dues. Bankers believe many diamantaires
borrowed money during the economic downturn two years ago and diverted funds to
businesses like real estate and capital markets. Many of themselves made money
from these businesses but their diamond companies have gone sick and declared
insolvency.
-
Most of the money borrowed
from the banks in the name of their diamond business has been diverted in real
estate and the share market. The banks are not in a position to seize their
properties because in many cases, these were purchased in the name of their
relatives and friends.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.14 |
|
|
1 |
Rs.81.41 |
|
Euro |
1 |
Rs.68.22 |
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.