|
Report Date : |
07.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
APECO (PTY) LTD |
|
|
|
|
Registered Office : |
Unit C2, |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
18.09.1989 |
|
|
|
|
Com. Reg. No.: |
M1989/005494/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacture, Sourcing and Distribution of Leather and Leather products |
|
|
|
|
No. of Employees : |
35 |
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) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Subject Name |
APECO (PTY) LTD |
|
Country |
SOUTH AFRICA |
|
Enquiry Terms |
D/A |
|
Account Review |
Every 3 Months |
|
Subject Contact person |
MICHELLE KING – Financial Manager |
|
Assessment |
On investigation we made contact with MICHELLE KING the subject’s financial manager who assisted with some information for the subject. This appears to be an established company which has a credit exposure of up to R800 000 and manufacturing experience dating back to 1924. We still await a bank code. Please see the available information for the subject below |
|
Registered Name |
APECO (PTY) LTD |
|
Trading as/ Division Name |
ALFRED PEARSON |
|
Previous Name |
None |
|
Date of Name Change |
None |
|
Registration Number |
M1989/005494/07 |
|
Registration Date |
1989-09-18 |
|
Date Commenced Trading |
1989-09-18 |
|
Age of Business |
22 Years 8 Months |
|
History of Business |
APECO was established in 1924, in Port Elizabeth by a MR ALFRED
PEARSON. It was in 1972 when the office was moved from Port Elizabeth to
Pinetown in order to be closer to the shoe manufacturing industry. |
|
History of Principals |
There are 5 directors |
|
Shareholders and % holding |
Declined |
|
Authorised Share Capital |
Declined |
|
Issued Share Capital |
Declined |
|
Status |
In Business |
|
Operations Assessment |
Manufacture, Sourcing and Distribution of Leather
and Leather products such as : Natural Leather Synthetic Materials Shoe Components Shoe Repair Materials |
|
Industry/ Customers |
Shoe manufacturing industry |
|
Export |
Yes – Sub Saharan Africa |
|
Major Industry Code / SICC |
316 |
|
Definition of Code |
TANNING AND DRESSING OF
LEATHER; MANUFACTURE OF LUGGAGE, HANDBAG, SADDLERY AND HARNESS |
|
Head Office Physical Address |
Unit C2 Old Mutual Industrial
Park, 14 Henred Road NEW GERMANY |
|
Head Office Postal Address |
PO Box 68 PINETOWN KWAZULU NATAL 3620 |
|
Current Tel Number |
031 7245910 – 031 7051668 |
|
Cell number |
Declined |
|
Current Fax Number |
031 7052190 |
|
Current Email Address |
|
|
Web Site Address |
Auditors
Information
|
Company Registered Name |
BDO SOUTH AFRICA INCORPORATED |
|
Trading Name |
Unavailable |
|
Registration Number |
1995/002310/21 |
|
Physical Address |
13 Wellington Road PARKTOWN GAUTENG |
|
Postal Address |
Private Bag x60500 HOUGHTON GAUTENG 2041 |
|
Contact Person |
URSULA VAN NECK |
|
Contact Number |
011 4881700 |
|
Email |
|
|
Principals |
There are 12 Directors and 24 Partners |
|
Judgements Against Subject |
None |
|
Judgements Against Principals |
None |
|
Subject Verified as Client |
Yes |
|
Professional Number |
Unavailable |
|
VAT Number |
4910148685 |
|
Tax Number |
9040488844 |
|
BEE Status |
Yes – Level 6 |
|
Financial Year End |
December |
|
Years With Auditors |
2 |
|
Website |
Previous Auditors
|
Company Name |
Phone Number |
Time with previous auditors |
|
BDO SPENCER
STEWARD (KZN) INCORPORATED |
Unavailable |
Unknown |
Tax Information
|
Vat Number |
4190102535 |
|
Status |
Active |
|
Vat Liable Date |
1991-09-30 |
|
Tax Number |
9010222207 |
|
Tax Clearance Expire Date |
Unavailable |
|
Financial Year End |
December |
|
Status |
None |
|
Score |
|
|
Expire Date |
|
|
BEE Certificate Available |
|
|
Type of ISO Grade |
None |
|
ISO Certificate |
|
|
ISO Certificate Available |
|
|
Certified by an Accredited Agent |
|
|
Registered |
Yes |
|
Compliance Certified |
Yes |
Company
Structure
Subsidiaries
|
Subsidiary Company |
None |
|
Shareholding |
|
|
Registration Number |
|
|
Import / Export |
|
|
Number of
Employees |
35 |
|
1. Salaried
employees |
24 |
|
2. Waged
employees |
11 |
Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is made up of |
No Company
Vehicles |
|||
|
Offices |
|
Head Office Owned/ Leased |
Leased |
|
Rental Company |
JHI |
|
Lease Agreement |
Declined |
|
Lease Expire Date |
Declined |
|
Type of Premises |
Offices and a Warehouse |
|
Branches Names |
Country |
Province |
|
None |
|
|
Management Overview
|
Level |
Position |
Name |
|
1 |
Managing
Director |
MARK B GIBBINGS |
|
2 |
Sales Director –
Synthetics |
DAVE P BROMFIELD |
|
|
Sales Director – Leather |
GRANT M HANSON |
|
|
Sales Director – Bottom
Stock |
DEREK V GRIFFITHS |
|
|
Sales Director –
Synthetics |
RAJESH KULWA |
Company Structure
(Ownership)
Note: One level up and
all levels down
|
Holding |
Company |
Sub |
|
Declined |
|
|
|
|
|
|
Key
deals signed within the past 12 months.
|
Company |
Value |
Contact |
|
Declined |
|
|
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
|
1 |
MOSSOP WESTERN
LEATHERS |
021 8649300 |
None |
None |
Trade References Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
10 Years |
R 1 200 000 |
R 800 000 |
60 Days |
R 700 000 – R 800 000 |
60 Days |
Good Account |
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 |
FNB |
|
Branch |
PINETOWN |
|
Bank Account Number |
513800006747 |
|
Type of Account |
CHEQUE |
|
Account Name |
APECO (PTY) LTD |
|
Overdraft Facilities |
None |
|
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 |
|
Unavailable |
|
|
|
|
|
|
|
Previous Bank Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
Unavailable |
|
|
|
|
|
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
|
CURRENT ASSETS |
Declined – The subject finds this information to be 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 |
6 |
|
Average Age of Active Principals |
57 |
Active Principals
Principal 1 of 6: JHANULALL KULWA
|
Surname |
KULWA |
|
First Name |
JHANULALL |
|
Other Names |
Unavailable |
|
Marital Status |
Unavailable |
|
ID Number |
6203085214082 |
|
Verified ID Number |
Yes |
|
Current Age |
50 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2006-09-01 |
|
Physical Address (at time of Appointment) |
10 Diamond Close BUFFELSBOSCH SHALLCROSS 4093 |
|
Postal Address |
PO Box 289 NEW GERMANY 3620 |
|
Current Tel Number |
031 4098517 / 031 7051663 |
|
Cell number |
084 4098547 |
|
Current Fax Number |
031 7052190 |
|
Current Email Address |
|
|
Shareholding |
0.0000 |
Adverse Information for: JHANULALL KULWA
Judgement
|
Number of
Judgements |
None |
Debt
Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information for: JHANULALL KULWA
Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
APECO (PTY) LTD |
M1989/005494/07 |
In Business |
22 Years 8
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: JHANULALL KULWA
|
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 6: DEREK GRIFFITHS
|
Surname |
GRIFFITHS |
|
First Name |
DEREK |
|
Other Names |
Unavailable |
|
Marital Status |
Unavailable |
|
ID Number |
5201225039089 |
|
Verified ID Number |
Yes |
|
Current Age |
60 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
1999-05-01 |
|
Physical Address (at time of Appointment) |
10 Petshell 8 Short Place NEW GERMANY 3621 |
|
Postal Address |
PO Box 289 NEW GERMANY 3620 |
|
Current Tel Number |
031 7058660 / 031 7051668 |
|
Cell number |
082 4504903 |
|
Current Fax Number |
031 7052190 |
|
Current Email Address |
|
|
Shareholding |
0.0000 |
Adverse
Information for: DEREK GRIFFITHS
Judgement
|
Number of
Judgements |
None |
Debt
Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information for: DEREK GRIFFITHS
Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
ALPHA LEATHERS (PTY) LTD |
1970/003752/07 |
Deregistration
Process |
42 Years 2
Months |
0 |
No |
|
PEARSON TRADING EXPORTS (PTY) LTD |
1990/005075/07 |
In Business |
21 Years 9
Months |
0 |
No |
|
APECO (PTY) LTD |
M1989/005494/07 |
In Business |
22 Years 8
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: DEREK GRIFFITHS
|
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 6: GRANT HANSON
|
Surname |
HANSON |
|
First Name |
GRANT |
|
Other Names |
Unavailable |
|
Marital Status |
Unavailable |
|
ID Number |
6308105138086 |
|
Verified ID Number |
Yes |
|
Current Age |
49 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
1996-07-01 |
|
Physical Address (at time of Appointment) |
12 Roberts Place WESTVILLE 3630 |
|
Postal Address |
12 Roberts Place WESTVILLE 3630 |
|
Current Tel Number |
031 2660608 / 031 3108457 |
|
Cell number |
082 4565522 |
|
Current Fax Number |
031 7052190 |
|
Current Email Address |
|
|
Shareholding |
0.0000 |
Adverse Information for: GRANT HANSON
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information for: GRANT HANSON
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
PEARSON TRADING EXPORTS (PTY) LTD |
1990/005075/07 |
In Business |
21 Years 9 Months |
0 |
No |
|
APECO (PTY) LTD |
M1989/005494/07 |
In Business |
22 Years 8 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: GRANT HANSON
|
Title Deed No. |
T3988/2000 |
Erf/Site No. |
|
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
12 Roberts Dawcliffe WESTVILLE |
|
Property Type |
Freehold / Ervin |
Extent / Size |
|
|
Purchase Date |
1999-11-09 |
Purchase price |
R
315 000,00 |
|
% Ownership |
0.0000 |
Bond Holder |
STANDARD BANK OF
SOUTH AFRICA LTD |
|
Bond Number |
B25782000 |
Bond Amount |
R
330 000,00 |
Principal 4 of 5: MARK GIBBINGS
|
Surname |
GIBBINGS |
|
First Name |
MARK |
|
Other Names |
Unavailable |
|
Marital Status |
Unavailable |
|
ID Number |
5809135014081 |
|
Verified ID Number |
Yes |
|
Current Age |
54 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
1991-04-01 |
|
Physical Address (at time of Appointment) |
47 Everton Road KLOOF DURBAN 4000 |
|
Postal Address |
PO Box 289 New Germany DURBAN 4000 |
|
Current Tel Number |
031 7672372 / 031 7672372 |
|
Cell number |
082 4449251 |
|
Current Fax Number |
031 7052190 |
|
Current Email Address |
|
|
Shareholding |
0.0000 |
Adverse Information for: MARK GIBBINGS
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information for: MARK GIBBINGS
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
ALPHA LEATHERS (PTY) LTD |
1970/003752/07 |
Deregistration
Process |
42 Years 2
Months |
0 |
No |
|
PEARSON TRADING EXPORTS (PTY) LTD |
1990/005075/07 |
In Business |
21 Years 9
Months |
0 |
No |
|
APECO (PTY) LTD |
M1989/005494/07 |
In Business |
22 Years 8
Months |
0 |
No |
|
ST MARY’S DIOCESAN SCHOOL FOR GIRLS KLOOF |
M2000/028893/08 |
In Business |
11 Years 6
Months |
0 |
No |
|
SOUTH AFRICAN FOOTWEAR AND LEATHER EXPORT COUNCIL |
M2001/004321/08 |
In Business |
11 Years 3
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: MARK GIBBINGS
|
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 5 of 5: DAVID BROMFIELD
|
Surname |
BROMFIELD |
|
First Name |
DAVID |
|
Other Names |
P |
|
Marital Status |
Unavailable |
|
ID Number |
4611195111109 |
|
Verified ID Number |
Yes |
|
Current Age |
66 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
1989-09-18 |
|
Physical Address (at time of Appointment) |
12 Kew Avenue WESTVILLE 3630 |
|
Postal Address |
PO Box 68 PINETOWN 3600 |
|
Current Tel Number |
031 2662265 / 031 7081668 |
|
Cell number |
082 4449249 |
|
Current Fax Number |
031 7052190 |
|
Current Email Address |
|
|
Shareholding |
0.0000 |
Adverse Information for: DAVID BROMFIELD
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information for: DAVID BROMFIELD
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
APECO (PTY) LTD |
M1989/005494/07 |
In Business |
22 Years 8
Months |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
21 Years 1 Months |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
SEA URCHIN PROPERTIES CC |
B1991/010212/23 |
In Business |
21 Years 1 Month |
0 |
No |
Deeds Information
Property Interests for: DAVID BROMFIELD
|
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.53.72 |
|
UK Pound |
1 |
Rs.86.98 |
|
Euro |
1 |
Rs.70.65 |
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.