|
Report Date : |
01.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
GLENGYN (PTY) LTD |
|
|
|
|
Registered Office : |
301 Beau
Rivage, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
07.04.2009 |
|
|
|
|
Com. Reg. No.: |
M2009/007188/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Import
and wholesale of Rubber products. |
|
|
|
|
No. of Employees : |
03 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 |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
South Africa - ECONOMIC OVERVIEW
south Africa is a middle-income, emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors; a stock exchange that is the 18th largest in the world; and modern infrastructure supporting a relatively efficient distribution of goods to major urban centers throughout the region. Growth was robust from 2004 to 2007 as South Africa reaped the benefits of macroeconomic stability and a global commodities boom but began to slow in the second half of 2007 due to an electricity crisis and the subsequent global financial crisis' impact on commodity prices and demand. GDP fell nearly 2% in 2009 but recovered in 2010-11. Unemployment remains high and outdated infrastructure has constrained growth. State power supplier Eskom encountered problems with aging plants and meeting electricity demand necessitating "load-shedding" cuts in 2007 and 2008 to residents and businesses in the major cities. Daunting economic problems remain from the apartheid era - especially poverty, lack of economic empowerment among the disadvantaged groups, and a shortage of public transportation. South Africa''s economic policy is fiscally conservative focusing on controlling inflation and attaining a budget surplus. The current government largely follows these prudent policies but must contend with the impact of the global crisis and is facing growing pressure from special interest groups to use state-owned enterprises to deliver basic services to low-income areas and to increase job growth.
|
Source : CIA |
|
Subject
Name |
GLENGYN
(PTY)LTD |
|
Country |
South
Africa |
|
Subject
Contact Person |
KARAN
DUA - ACCOUNTANT |
|
Assessment |
This
is an established business. On
investigation we made contact with the subject and we were referred to the accountant
MR. KARAN DUA who assisted with all the information required. The
subject only has 3 local suppliers, however only 1 of the 3 assisted with the
trade reference. The
subject is meeting commitments timeously with it's supplier. A
bank code C was obtained for an amount of R 500 000 over a period of 30 Days.
Please see the available information on the subject below. |
|
Registered
Name |
GLENGYN
(PTY)LTD |
|
Trading
as/ Division Name |
APL
AFRICA GUMMIPLAST |
|
Registration
Number |
M2009/007188/07 |
|
Registration
Date |
2009/04/07 |
|
Date
Commenced Trading |
2009-04-07 |
|
Age
of Business |
3
Years 6 Months |
|
History
of Business |
The
subject started off as a new business in 2009 |
|
History
of Principals |
There
are currently 2 active Directors within the company. |
|
Authorised
Share Capital |
R1000.00 |
|
Issued
Share Capital/Members Contribution |
R
100.00 |
|
Status |
In
Business |
|
Operations
Assessment |
Import
and wholesale of Rubber products. |
|
Industry/
Customers |
Hardware
stores and Glass companies |
|
Major
Industry Code / SICC |
61909 |
|
Definition
of Code |
Other
wholesale trade n.e.c. |
|
Head
Office Physical Address |
301 BEAU RIVAGE,
7 KILLARNEY ROAD, HUMEWOOD, PORT ELIZABETH, 6013 |
|
Head
Office Postal Address |
SUITE
292, PRIVATE BAG X13130, HUMEWOOD, 6013 |
|
Current
Tel Number |
0418112011 |
|
Current
Fax Number |
0865863212 |
|
Current
Email Address |
|
Company
Registered Name |
HAYDEN
DU PREEZ INC |
|
Registration
Number |
M2007/022527/21 |
|
Physical
Address |
1st
Floor Fiveway Center, 62 Capetown Road, PORT ELIZABETH, 6001 |
|
Postal
Address |
PO
BOX 27418, GREENACRES, PORT ELIZABETH, 6057 |
|
Contact
Person |
HAYDEN |
|
Contact
Number |
0413738701 |
|
Email |
|
|
Principals |
1 |
|
Subject
Verified as Client |
Yes |
|
Practice
Number |
955779 |
|
Tax
Number |
9628681158 |
|
BEE
Status |
Yes |
|
Financial
Year End |
February |
|
No
of years in Business |
3 |
Previous Auditors
|
Company Name |
Phone Number |
Time with
previous auditors |
Comment |
|
LSG INTEGRATED |
|
Unknown |
|
|
Vat
Number |
4740253366 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
2009/04/07 |
|
Tax
Number |
9394624168 |
|
Financial
Year End |
February |
|
Comment |
|
|
Black
Economic Empowerment |
|
|
Status |
Yes |
|
Score |
6.00 |
|
|
|
|
ISO Information
- No Information on Record |
|
|
Workman's
compensation |
|
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
Subsidiaries
Information - No Information on Record
Employees
|
Number
of Employees |
3 |
|||
|
1.
Salaried employees |
3 |
|||
|
2.
Waged employees |
|
|||
|
3.
Permanent employees |
3 |
|||
|
Company
Fleet |
||||
|
Company
Fleet |
No
of vehicles: |
Owned/Leased |
Value |
Outstanding
Balance |
|
Fleet
Operations |
|
|
|
|
|
The
Fleet is made up of |
1 |
|||
|
Comment |
|
|||
|
Cars |
1 |
Leased |
R
60000.00 |
|
|
Offices |
Offices |
|
Head
Office Owned/ Rented |
Leased |
|
Rental
Company |
DINO
FOAM (PTY)LTD |
|
Lease
Agreement |
RE-NEWED
EVERY YEAR |
|
Type
of Premises |
Factory
and offices |
Branch
Information - No Information on Record
Organisation
Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
Director |
TEJBIR SINGH ANAND |
|
|
|
|||
|
1 |
Director |
STEPHEN RILEY |
|
Company Structure
Information - No Information on Record
Note: One level up and all levels down
Key Deals
- No Information on Record
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial
Bonds |
Comment |
|
1 |
BB TRANSPORT |
0414870262 |
|
|
|
|
2 |
CARGO |
0414525990 |
|
|
|
|
3 |
DAWN WING |
0861223224 |
|
|
|
|
Nr |
Age of Acc |
Credit
Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
|
|
|
|
|
|
The supplier declined to assist
with any information regarding the subject. |
|
2 |
4 Years |
R
500000.00 |
R 400000 |
30
Days |
R 350000 |
30 Days |
Excellent
account. |
|
3 |
|
|
|
|
|
|
The supplier declined to assist with
the trade referrence due to it being against company policy. |
|
Bank |
STANDARD
BANK |
|
Branch |
PORT
ELIZABETH (NEWTON PARK) |
|
Bank
Account Number |
080450296 |
|
Type
of Account |
CURRENT |
|
Account
Name |
ALP
AFRICA GUMMIPLAST (PTY)LTD |
|
Overdraft
Facilities |
Yes |
|
Bank
Code |
C
For R 500 000 |
|
Bank
Comment |
The
subject's bankers consider them good for all business normal engagements |
Bank Code
History - No Information on Record
Previous Bank
Account Information - No Information on Record
Deeds
Information - No information on record
Judgements - No
information on record
BusinessRescue
- No Information on Record
Default Listing
- No information on record
Notarial Bonds - No information on record
|
CURRENT
ASSETS |
R1700000.00 |
|
Stock |
R1500000.00 |
|
Debtors |
R1000000.00 |
|
Plant,
Equipment, Vehicles |
R
400000.00 |
|
CURRENT
LIABILITIES |
R1700000.00 |
|
Creditors |
R1500000.00 |
|
Previous
Year Turnover |
R
3000000.00 |
|
Estimated
Current Year Turnover |
R
6000000.00 |
|
Current
Turnover per month |
R
700000.00 |
|
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 |
|
Number
of Principals |
2 |
|
Average
Age of Active Principals |
42 |
Active Principals Principal - 1 of 2 TEJBIR SINGH ANAND
|
Surname |
ANAND |
|
First
Name |
TEJBIR
SINGH |
|
Other
Names |
None |
|
ID
Number |
7811290000000 |
|
Verified
ID Number |
No |
|
Current
Age |
34 |
|
Designation |
BUSINESSMAN |
|
Status |
Active |
|
Appointment
Date |
2009/05/25 |
|
Physical
Address (at time of Appointment) |
G8B
PUSHPANJAU FARMS, BIJWASAN, NEW DEHLL, INDIA, 0000 |
|
Postal
Address |
G8B
PUSHPANJAU FARMS, BIJWASAN, NEW DEHLL, INDIA, 0000 |
|
Current
Tel Number |
0418112011 |
|
Cell
number |
|
|
Shareholding/Membership |
0.0000 |
Principal's Adverse - No information on
record
Business
Information for TEJBIR SINGH ANAND
Principal
Current Business Interests
|
Company
Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
GLENGYN (PTY)LTD |
M2009/007188/07 |
In Business |
3 Years 3 Months |
0 |
No |
|
Principal's
Previous Business Interests - No information on record
Principal's
Deeds Information - No information on record
Principal
- 2 of 2 STEPHEN RILEY
|
Surname |
RILEY |
|
First
Name |
STEPHEN |
|
Other
Names |
None |
|
Marital
Status |
Divorced |
|
ID
Number |
6108265119086 |
|
Verified
ID Number |
Yes |
|
Current
Age |
51 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment
Date |
2009/04/07 |
|
Physical
Address (at time of Appointment) |
301
BEAU RIVAGE, 7 KILLARNEY ROAD, HUMEWOOD, 6001 |
|
Postal
Address |
SUITE
292, PRIVATE BAG X 13130, HUMEWOOD, 6013 |
|
Current
Tel Number |
0215317860 |
|
Cell
number |
0716817129 |
|
Shareholding/Membership |
0.0000 |
Principal's Adverse - No information on
record
Business
Information for STEPHEN RILEY
Principal
Current Business Interests
|
Company
Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
GLENGYN
(PTY)LTD |
M2009/007188/07 |
In Business |
3 Years 3 Months |
0 |
No |
|
|
DYNAFOAM CONVERTERS (PTY)LTD |
M2009/012500/07 |
In Business |
3 Years 3 Months |
0 |
No |
|
Principal's
Previous Business Interests - No information on record
Principal's
Deeds Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.12 |
|
UK Pound |
1 |
Rs.87.08 |
|
Euro |
1 |
Rs.70.15 |
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.