|
Report Date : |
25.05.2012 |
IDENTIFICATION DETAILS
|
Correct Name : |
AFRO |
|
|
|
|
Registered Office : |
154 C Dayal Road, Clairwood, |
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Country : |
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Date of Incorporation : |
23.06.2003 |
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Com. Reg. No.: |
2003/014166/07 |
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Legal Form : |
Private
Company |
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Line of Business : |
Trading
and recycling of ferrous,
non-ferrous and other scrap metals |
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No. of Employees : |
Approx 70 – 80 employees |
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 |
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Payment Behaviour : |
No Complaints |
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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 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
|
Subject Name |
(AFR INDIA) – Incorrect Name AFRO INDIA RECYCLERS (PTY) LTD |
|
Country |
SOUTH AFRICA |
|
Subject Contact person |
MR SIROHI |
|
Assessment |
This is an established family company. Suppliers have trace amounts over R3 000 000.Your figure is however considered as too high. Financial Information was declined. We await a bank code which will be forwarded when received. Please see the details below. |
|
Registered Name |
AFRO INDIA RECYLERS (PTY) LTD |
|
Trading as/ Division Name |
RF SCRAP |
|
Previous Name |
None |
|
Date of Name Change |
None |
|
Registration Number |
2003/014166/07 |
|
Registration Date |
2003-06-23 |
|
Date Commenced Trading |
2003-06-23 |
|
Age of Business |
8 Years 11 Months |
|
History of Business |
AFRO INDIA has been serving their customers with unrivalled
solutions and services in processing and export of ferrous and non-ferrous
scrap metals since its establishment in 2001. |
|
History of Principals |
Currently
2 active principals |
|
Shareholders and % holding |
51 % - MAYANK SIROHI 49 % - ASHISH SIROHI |
|
Authorised Share Capital |
R 100 000 |
|
Issued Share Capital |
R 100 000 |
|
Status |
In Business |
|
Operations Assessment |
Trading
and recycling of ferrous, non-ferrous and other scrap metals. Loading and export of containers of loose scrap
metals. Such as : Copper Berry Candy Berry no.2 Birch Aluminium Zinc |
|
Industry/ Customers |
Metal / Iron refining companies mainly
based internationally |
|
Export |
Yes INDIA VIETNAM INDONESIA Throughout ASIA |
|
Major Industry Code / SICC |
39510 |
|
Definition of Code |
Recycling of metal waste and scrap n.e.c |
|
Head Office Physical Address |
154 C
Dayal Road |
|
Head Office Postal Address |
PO Box 23223 Ottawa VERULAM 4340 |
|
Current Tel Number |
031 4677701 |
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Cell number |
083 3022207 - MAYANK |
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Current Fax Number |
031 4653400 |
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Current Email Address |
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|
Web Site Address |
Auditors
Information
|
Company Registered Name |
SPEEDACC FINANCIAL CONSULTANTS CC |
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Trading Name |
None |
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Registration Number |
1996/005281/23 |
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Physical Address |
3 to 20 Crystal Rock Building Solstes Road UHMLANGA 4319 |
|
Postal Address |
PO Box 23223 OTTAWA 4345 |
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Contact Person |
MERYL |
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Contact Number |
031 5663549 |
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Email |
|
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Principals |
1 Active |
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Judgements Against Subject |
None |
|
Judgements Against Principals |
None |
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Subject Verified as Client |
Yes |
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SAICA number |
None |
|
VAT Number |
4830202976 |
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Tax Number |
9272534208 |
|
BEE Status |
Level 3 |
|
Financial Year End |
February |
|
Years With Auditors |
Unavailable |
|
Website |
Previous Auditors
|
Company Name |
Phone Number |
Time with previous auditors |
|
MARWICK AND COMPANY
INCORPORATED |
Unavailable |
Unknown |
Tax Information
|
Vat Number |
4670198888 |
|
Status |
Active |
|
Vat Liable Date |
2002-06-01 |
|
Tax Number |
9200054170 |
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Tax Clearance Expire Date |
Unavailable |
|
Financial Year End |
February |
Black Economic
Empowerment
|
Status |
None |
|
Score |
|
|
Expire Date |
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BEE Certificate Available |
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ISO Status
|
Type of ISO Grade |
None |
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ISO Certificate |
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|
ISO Certificate Available |
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|
Certified by an Accredited Agent |
|
Workman’s
compensation
|
Registered |
Yes |
|
Compliance Certified |
Yes |
Company
Structure
Subsidiaries
|
Subsidiary Company |
None |
|
Shareholding |
|
|
Registration Number |
|
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Import / Export |
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Number of
Employees |
Approx 70 – 80 |
|
1. Salaried
employees |
Unavailable |
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2. Waged
employees |
Mainly Waged |
|
3. Permanent
employees |
Approx 70 – 80 |
Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding Balance |
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The Fleet is made up of |
19 Vehicles |
|||
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1. Cars |
10 |
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2. Light
Delivery Vehicles |
4 |
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3. Trucks |
5 |
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Offices |
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Head Office Owned/ Rented |
Owned |
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Owned by |
Directors |
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Value |
Unknown |
|
Bond |
Unknown |
|
Bank |
STANDARD BANK |
|
Type of Premises |
Household |
|
Branches Names |
Country |
Province |
|
AFRO INDIA
RECYLERS (PTY) LTD |
SOUTH AFRICA |
WESTERN CAPE |
|
AFRO INDIA
RECYLERS (PTY) LTD |
SOUTH AFRICA |
GAUTENG |
Branches Owned/ Rented |
Leased |
|
Type of Premises |
Households |
Management Overview
|
Level |
Position |
Name |
|
1 |
Director Director |
MAYANK SIROHI ASHISH SIROHI |
Company Structure
(Ownership)
Note: One level up and
all levels down
|
Holding |
Company |
Sub |
|
51 % - MAYANK SIROHI 49 % - ASHISH SIROHI |
AFRO INDIA RECYCLERS (PTY) LTD |
None |
Trade References
Key deals signed within the past 12
months.
|
Company |
Value |
Contact |
|
Declined |
|
The
subject finds this information to be confidential |
|
Trade Reference nr |
Supplier |
Contact |
|
1 |
OLD SCRAP |
082 3395568 CLINTON |
|
2 |
TENBARA TRADING |
011 8698121 |
|
3 |
TIVALANI |
082 8552093 MILLER |
Trade References Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
3 Years |
Open |
R
1 000 000 + |
30 Days |
R 940 000 |
30 Days / Daily |
Excellent
Account – The subject pays daily – There have never been problems with
payments |
|
2 |
Unable |
To |
Obtain |
|
|
|
|
|
3 |
7 Years |
Open |
R 3 500 000 |
30 Days |
R 800 000
Per Week |
30 Days / Every
2 Weeks |
Excellent
Account – The subject pays either every 30 Days or Every 2 Weeks |
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 |
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Default Listings
|
Date |
Details |
|
None |
|
Notarial Bonds
|
Date |
Details |
|
None |
|
Bank Information
|
Bank |
STANDARD BANK |
|
Branch |
THE BLUFF |
|
Bank Account Number |
0511581159 |
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Type of Account |
Cheque |
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Account Name |
AFRO INDIA RECYCLERS (PTY) LTD |
|
Overdraft Facilities |
Yes – R 4 500 000 |
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Date Opened |
Unavailable |
|
Bank Code |
Awaiting a trade reference. |
|
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 |
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Previous Bank Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
None |
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Property Interests for Company
|
Title Deed No. |
None |
Erf/Site No. |
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|
Deeds Office |
|
Physical Address |
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|
Property Type |
|
Extent / Size |
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|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Financial Estimates
|
CURRENT ASSETS |
Unavailable |
|
Stock |
|
|
Debtors |
|
|
FIXED ASSETS |
|
|
Plant, Equipment, Vehicles |
|
|
Property |
|
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CURRENT LIABILITIES |
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Creditors |
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Loans/ From? |
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LONG TERM LIABILITIES |
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Morgage Bonds |
|
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Previous Year Turnover |
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Estimated Current Year Turnover |
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Current Turnover per month |
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Current Turnover per annum |
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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 |
35 |
Active Principals
Principal 1 of 2: MAYANK SIROHI
|
Surname |
SIROHI |
|
First Name |
MAYANK |
|
Other Names |
Unavailable |
|
Marital Status |
Unavailable |
|
ID Number |
810102 |
|
Verified ID Number |
No |
|
Current Age |
31 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2007-10-31 |
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Physical Address (at time of Appointment) |
4 Kingsley Road BLUFF 4052 |
|
Postal Address |
PO Box 41712 ROSSBURGH 4072 |
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Current Tel Number |
031 4677701 |
|
Cell number |
083 3022207 |
|
Current Fax Number |
031 4653400 |
|
Current Email Address |
|
|
Shareholding |
0.0000 |
Adverse Information for: MAYANK SIROHI
Judgement
|
Number of
Judgements |
None |
Debt
Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information for: MAYANK SIROHI
Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
AFRO INDIA RECYCLERS (PTY) LTD |
2003/014166/07 |
In Business |
8 Years 11
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: MAYANK SIROHI
|
Title Deed No. |
T39101/2006 |
Erf/Site No. |
|
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
4 Kingsley Brighton BEACH BLUFF |
|
Property Type |
Freehold / Ervin |
Extent / Size |
1189.0SQM |
|
Purchase Date |
2006-04-07 |
Purchase price |
R
800 000,00 |
|
% Ownership |
0.0000 |
Bond Holder |
STANDARD BANK OF
SOUTH AFRICA LTD |
|
Bond Number |
B301812008 |
Bond Amount |
R
1 448 999,00 |
|
Title Deed No. |
T37299/2008 |
Erf/Site No. |
|
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
Thornville RICHMOND RURAL |
|
Property Type |
Freehold / Ervin |
Extent / Size |
14.1486H |
|
Purchase Date |
2008-04-30 |
Purchase price |
R
1 600 000,00 |
|
% Ownership |
0.0000 |
Bond Holder |
STANDARD BANK OF
SOUTH AFRICA LTD |
|
Bond Number |
|
Bond Amount |
|
Principal
2 of 2: ASHISH SIROHI
|
Surname |
SIROHI |
|
First Name |
ASHISH |
|
Other Names |
Unavailable |
|
Marital Status |
Unavailable |
|
ID Number |
7305290000000 |
|
Verified ID Number |
No |
|
Current Age |
39 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2003-06-23 |
|
Physical Address (at time of Appointment) |
46 Trenthill Place Hill Grove NEWLANDS WEST 4037 |
|
Postal Address |
PO Box 23223 VERULAM 4340 |
|
Current Tel Number |
031 4677701 |
|
Cell number |
083 3022207 |
|
Current Fax Number |
031 4653400 |
|
Current Email Address |
|
|
Shareholding |
0.0000 |
Adverse
Information for: ASHISH SIROHI
Judgement
|
Number of
Judgements |
None |
Debt
Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information for: ASHISH SIROHI
Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
AFRO INDIA RECYCLERS (PTY) LTD |
2003/014166/07 |
In Business |
8 Years 11
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: ASHISH SIROHI
|
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.56.29 |
|
UK Pound |
1 |
Rs.88.26 |
|
Euro |
1 |
Rs.70.82 |
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.