|
Report Date : |
08.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAMANCOR CHROME LTD |
|
|
|
|
Registered Office : |
1st
Floor, Block B, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
19.07.2006 |
|
|
|
|
Com. Reg. No.: |
1926/008883/06 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Mining of Chromite and Manganese |
|
|
|
|
No. of Employees : |
Not Available |
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 (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 |
SAMANCOR
CHROME LTD |
|
Country |
SOUTH
AFRICA |
|
Enquiry Terms |
D/A |
|
Account Review |
EVERY
6 MONTHS |
|
Subject Contact person |
MRS
ANJA co-sec- Simone Govender |
|
Assessment |
On
investigation contact was made with the assistant to the Company Secretary,
SIMONE. It
was stated that all details should be emailed and she will assist with the
information. An
email questionnaire has been sent and we await a reply. Please
see available information below. |
|
Registered
Name |
SAMANCOR CHROME LTD |
|
Trading
as/ Division Name |
MINING - EASTERN CHROME MINES (ECM) - WESTERN CHROME MINES (WCM) SMELTING -
FERROMETALS (FMT) -
MIDDLEBURG
FERROCHROME (MFC) -
TUBATSE FERROCHROME
(TFC) |
|
Previous
Name |
SAMANCOR LTD |
|
Date
of Name Change |
2006-07-19 |
|
Registration
Number |
1926/008883/06 |
|
Registration
Date |
1926-12-22 |
|
Date
Commenced Trading |
|
|
Age
of Business |
85 years 5 months |
|
History
of Business |
The subject was established as
a result of a merger between SA Manganese Ltd and Amcor
Ltd as such SA Manganese was formed in 1926 to mine manganese ore in the
Northern Cape. |
|
History
of Principals |
Unknown |
|
Shareholders
and % holding |
100% SAMANCOR CHROME HOLDINGS
(PTY) LTD |
|
Authorised Share Capital |
|
|
Issued
Share Capital |
|
|
Status |
|
|
Operations
Assessment |
Mining
of Chromite and Manganese |
|
Industry/
Customers |
|
|
Export |
|
|
Major
Industry Code / SICC |
|
|
Definition
of Code |
|
|
Head
Office Physical Address |
1st
Floor, Block B Cullinan
Place Cullinan
Close Morningside SANDTON GAUTENG |
|
Head
Office Postal Address |
Postnet
Suite 803 Private Bag X9 BENMORE 2010 |
|
Current
Tel Number |
011
2451000 |
|
Cell
number |
|
|
Current
Fax Number |
011
2451200 |
|
Current
Email Address |
|
|
Web
Site Address |
|
Company
Registered Name |
KPMG |
|
Trading
Name |
|
|
Registration
Number |
1999/021543/21 |
|
Physical
Address |
85 Empire Road Parktown Johannesburg |
|
Postal
Address |
Private Bag 9 Parkview 2122 |
|
Contact
Person |
|
|
Contact
Number |
011 647
6576 |
|
Email |
|
|
Principals |
|
|
Judgements Against Subject |
|
|
Judgements Against Principals |
|
|
Subject
Verified as Client |
Yes |
|
SAICA
number |
04846622 |
|
VAT
Number |
4530188665 |
|
Tax
Number |
9559555843 |
|
BEE
Status |
AAA |
|
Financial
Year End |
June |
|
Years
With Auditors |
|
|
Website |
|
Company Name |
Phone Number |
Time with previous auditors |
|
|
|
|
|
Vat
Number |
4100192543 |
|
Status |
|
|
Vat
Liable Date |
|
|
Tax
Number |
9530004606 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
December |
|
Status |
Yes/No |
|
Score |
|
|
Expire
Date |
|
|
BEE
Certificate Available |
Yes/No |
|
Type
of ISO Grade |
|
|
ISO
Certificate |
Yes/No |
|
ISO
Certificate Available |
Yes/No |
|
Certified
by an Accredited Agent |
Yes/No |
|
Registered |
Yes/No |
|
Compliance
Certified |
Yes/No |
Subsidiaries
|
Subsidiary Company |
|
|
Shareholding |
|
|
Registration Number |
|
|
Import / Export |
|
|
Number of Employees |
|
|
1. Salaried employees |
|
|
2. Waged employees |
|
|
3. Permanent employees |
|
|
4. Casual employees |
|
|
5. Contracted employees |
|
Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is made up of |
|
|||
|
1. Cars |
|
|
|
|
|
2. Light Delivery Vehicles |
|
|
|
|
|
3. Trailers |
|
|
|
|
|
4. Busses |
|
|
|
|
|
5. Trucks |
|
|
|
|
|
6. Fork Lifts |
|
|
|
|
|
7. Other |
|
|
|
|
|
Offices |
|
Head Office Owned/ Rented |
|
|
Rental Company |
|
|
Owned by |
|
|
Value |
|
|
Bond |
|
|
Bank |
|
|
Lease Agreement |
|
|
Lease Expire Date |
|
|
Type of Premises |
|
|
Branches Names |
Country |
Province |
|
EASTERN CHROME MINES (ECM) |
SOUTH AFRICA |
Mpumulanga |
|
WESTERN CHROME MINES (WCM) |
SOUTH AFRICA |
North West |
|
FERROMETALS (FMT) |
SOUTH AFRICA |
Mpumulanga |
|
MIDDLEBURG FERROCHROME (MFC) |
SOUTH AFRICA |
Mpumulanga |
|
TUBATSE FERROCHROME (TFC) |
SOUTH AFRICA |
Mpumulanga |
Branches Owned/ Rented |
Mostly owned by the subject. |
|
Rental Company |
|
|
Owned |
|
|
Value |
|
|
Bank |
|
|
Bond |
|
|
Lease Agreement |
|
|
Lease Expire Date |
|
|
Type of Premises |
|
|
Level |
Position |
Name |
|
1 |
CEO |
J
SCHALAMON |
|
2 |
CFO |
W
ERASMUS |
|
|
|
|
|
|
|
|
Note: One level up and all levels down
|
Holding |
Company |
Sub |
|
|
|
|
|
|
|
|
|
Company |
Value |
Contact |
|
Unavailable |
|
|
|
|
|
|
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
|
1 |
Unavailable |
|
|
|
|
2 |
|
|
|
|
|
3 |
|
|
|
|
Trade References Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
Unavailable |
|
|
|
|
|
|
|
2 |
|
|
|
|
|
|
|
|
3 |
|
|
|
|
|
|
|
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 |
Unavailable |
|
Branch |
|
|
Bank Account Number |
|
|
Type of Account |
|
|
Account Name |
|
|
Overdraft Facilities |
Yes/No |
|
Date Opened |
|
|
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 |
|
|
|
|
|
Property Interests for Company
|
Title Deed No. |
T123973/1999 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
MOGALAKWENA RURAL |
|
Property Type |
Farms |
Extent / Size |
414.431H |
|
Purchase Date |
1999-07-22 |
Purchase price |
R370 916.00 |
|
% Ownership |
0.0000 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
R0.00 |
|
Title Deed No. |
T84360/2007 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
GREATER TUBATSE RURAL |
|
Property Type |
Farms |
Extent / Size |
42.8266H |
|
Purchase Date |
2005-02-15 |
Purchase price |
R16 372 301.00 |
|
% Ownership |
0.0000 |
Bond Holder |
|
|
Bond Number |
1-81402006C |
Bond Amount |
R0.00 |
|
Title Deed No. |
T84360/2007 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
GREATER TUBATSE RURAL |
|
Property Type |
Farms |
Extent / Size |
268.6579H |
|
Purchase Date |
2005-02-15 |
Purchase price |
R16 372 301.00 |
|
% Ownership |
0.0000 |
Bond Holder |
|
|
Bond Number |
1-81402006C |
Bond Amount |
R0.00 |
The subject owns a number of
farm premises.
Financial Estimates
|
CURRENT ASSETS |
Unavailable |
|
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 |
14 on record at CIPC |
|
Average Age of Active Principals |
52 |
The principals are not fully updated
at the CIPC so we await respondents at the company to provide the correct names
and we will forward them when the questionnaire is received.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.34 |
|
|
1 |
Rs.86.09 |
|
Euro |
1 |
Rs.69.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.