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Report Date : |
02.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
TECHNICAL EMINENCE CC |
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Registered Office : |
20A
Dan Jacobs St, Fountain Industrial Prk, Alrode, Alberton,1449 |
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Country : |
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Date of Incorporation : |
19.01.1999 |
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Com. Reg. No.: |
B1999/002188/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
Manufacture
of steam generators, except center heating water boilers. |
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No. of Employees : |
4 |
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 |
|
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 (31.03.2011) |
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and outdated infrastructure has constrained growth.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 |
TECHNICAL EMINENCE CC |
|
Country |
South Africa |
|
Subject Contact Person |
ANNE CUMMING |
|
Assessment |
On investigation we
made contact with the financial manager ANNE CUMMING who assisted with the
company information for the subject. The subject is meeting commitments
timeously with their suppliers. A bank code C was obtained for an amount of R
500 000 over a period of 30 days. Please see the available information for
the subject below. |
|
Registered Name |
TECHNICAL EMINENCE CC |
|
Trading as/ Division Name |
TECHNIM QUALITY SOLUTIONS |
|
Previous Name |
None |
|
Date of Name Change |
Feb 22 2000 12:00AM |
|
Registration Number |
B1999/002188/23 |
|
Registration Date |
1999/01/19 |
|
Date Commenced Trading |
|
|
Age of Business |
13 Years 8 Months |
|
History of Business |
None |
|
History of Principals |
None |
|
Shareholders/Members/Partners of subject and % holding |
100% DALEEN-NICOLE CUMMING |
|
Authorised Share Capital |
R1000.00 |
|
Issued Share Capital/Members Contribution |
R 200.00 |
|
Status |
In Business |
|
Operations Assessment |
Manufacture Water Treatment |
|
Industry/ Customers |
Public and Government |
|
Export |
None |
|
Export Countries |
Martinique |
|
Import |
Yes |
|
Import Countries |
Namibia |
|
Major Industry Code / SICC |
35430 |
|
Definition of Code |
Manufacture of steam
generators, except center heating water boilers. |
|
Head Office Physical Address |
20A Dan Jacobs St, Fountain Industrial Prk, Alrode,
Alberton,1449 |
|
Head Office Postal Address |
P 0 BOX 412, GLENVISTA, 2091 |
|
Current Tel Number |
0119080140 |
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Cell Number |
Unavailable |
|
Current Fax Number |
0119080141 |
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Current Email Address |
|
|
Web Site Address |
None |
|
Comments |
|
|
Company Registered Name |
BDO SOUTH AFRICA INC |
|
Trading Name |
BDO |
|
Registration Number |
M1995/002310/21 |
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Physical Address |
22 WELLINGTON ROAD, PARKTOWN,2193 |
|
Postal Address |
PRIVATE BAG X60500, HOUGHTON,2041 |
|
Contact Person |
GEORGE GUIRGUIS |
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Contact Number |
0114884700 |
|
Email |
|
|
Principals |
49 |
|
Judgements Against Subject |
None |
|
Judgements Against Principals |
None |
|
Subject Verified as Client |
Yes |
|
Practice Number |
SAIBR 969 |
|
VAT Number |
4910148685 |
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Tax Number |
9040488844 |
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BEE Status |
Level 4 |
|
Financial Year End |
December |
|
No of years in Business |
1 |
|
Website |
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|
Comment |
|
Previous Auditors
|
Company Name |
Phone Number |
Time
with previous auditors |
Comment |
|
LINDA WALSH |
|
13 |
|
|
Vat Number |
4030191409 |
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Status |
ACTIVE |
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Vat Liable Date |
2001/02/01 |
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Tax Number |
9174457847 |
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Tax Clearance Expire Date |
2013/02/28 |
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Financial Year End |
April |
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Comment |
|
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Black Economic Empowerment |
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Status |
No |
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Score |
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Expire Date |
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BEE Certificate Available |
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Comment |
|
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ISO Status |
|
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Type of ISO Grade |
None |
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ISO Certificate |
No |
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ISO Certificate Available |
No |
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Certified by an Accredited Agent |
No |
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Comment |
|
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Workman's compensation |
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Registered |
Yes |
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Compliance Certified |
Yes |
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Comment |
|
Subsidiaries
|
Subsidiary Company |
None |
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Shareholding |
|
|
Registration Number |
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Import / Export |
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Comment |
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Employees |
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Number of Employees |
4 |
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1. Salaried employees |
4 |
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2. Waged employees |
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3. Permanent employees |
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4. Casual employees |
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5. Contracted employees |
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Comment |
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Company Fleet
|
Company Fleet |
No of vehicles: |
Ownerd/Leased |
Value |
Outstanding Balance |
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Fleet Operations |
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The Fleet is made up of |
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|||
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Comment |
No Vehicles |
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Offices
|
Offices |
Offices |
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Head Office Owned/ Rented |
Owned |
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Rental Company |
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Owned by |
DALEEN-NICOLE CUMMING |
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Value |
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Bond |
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Bank |
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Lease Agreement |
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Lease Expire Date |
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Type of Premises |
OFFICES |
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Comment |
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Branch Information |
||
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Branches Names |
Country |
Province |
|
None |
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Organisation Chart
|
Level |
Position |
Name |
Comment |
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|||
|
1 |
MEMBER |
DALEEN-NICOLE
CUMMING |
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Company Structure
(Ownership)
Note: One level up and all levels
down
|
Holding |
Company |
Sub |
Comment |
|
100% DALEEN-NICOLE
CUMMING |
TECHNICAL
EMINENCE CC |
None |
|
Key
deals signed within the past 12 months
|
Company |
Value |
Contact |
Comment |
|
None |
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Trade
Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
|
1 |
CREST
CHEMICALS |
0834556695 |
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2 |
PACKNET |
0114740360 |
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3 |
MALEEN
INVIROMENT |
0114360683 |
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Details
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
8
Years |
R
200000.00 |
R
200000 |
30
DAYS |
R150000 |
30
DAYS |
GOOD |
|
2 |
12
Years |
R0.00 |
R5000 |
COD |
R
1000 |
COD |
VERY GOOD, NO
CREDIT LIMIT -OPEN ACCOUNT |
|
3 |
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PHONE
CONSTANTLY ENGAGED |
Judgements
|
Judgements |
None |
||||
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Possible Judgements |
No Information on Record |
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Civil Court |
No Information on Record |
||||
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RDs |
No Information on Record |
||||
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Comment |
No Information on Record |
||||
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Business Rescue |
|||||
|
Date registered |
Business rescue practitioner |
Contact
Information |
Details |
Comment |
|
|
|
No Information on Record |
No
Information on Record |
No Information on
Record |
None |
|
Default Listings
|
Date |
Details |
Comment |
|
|
No
Information on Record |
None |
|
Notarial Bonds |
||
|
Date |
Details |
Comment |
|
|
No
Information on Record |
None |
|
Bank |
ABSA |
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Branch |
ALBERTON |
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Brach Code |
|
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Bank Account Number |
4051426613 |
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Type of Account |
CURRENT |
|
Account Name |
TECHNICAL EMINENCE CC |
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Overdraft Facilities |
None |
|
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
Informat ion - No Information on Record
Deeds Information -
No information on record
Financial Estimates
|
CURRENT ASSETS |
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Stock |
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Debtors |
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FIXED ASSETS |
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Plant, Equipment, Vehicles |
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Property |
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CURRENT LIABILITIES |
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Creditors |
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Loans/ From? |
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Loan Details |
Deemed Confidential |
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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 |
R 833333.00 |
|
Current Turnover per annum |
R10000000.00 |
|
Comment |
|
|
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 |
1 |
|
Average Age of Active Principals |
36 |
|
Active
Principals Principal - 1of 1 DALEEN CUMMING |
|
|
Surname |
CUMMING |
|
First Name |
DALEEN |
|
Other Names |
NICOLE |
|
Marital Status |
Married |
|
ID Number |
7603100119084 |
|
Verified ID Number |
Yes |
|
Current Age |
36 |
|
Designation |
MEMBER |
|
Status |
Active |
|
Appointment Date |
2011/11/01 |
|
Physical Address (at time of Appointment) |
195 MOUNT PELLAN DRIVE, GLENVISTA,2091 |
|
Postal Address |
PO BOX 412,GLENVISTA,2008 |
|
Current Tel Number |
0119080140 |
|
Cell number |
Unavailable |
|
Shareholding/Membership |
100% |
Principal's Adverse -
No information on record
Business Information
for DALEEN CUMMING
Principal's Current
Business Interests - No information on record
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.52.78 |
|
|
1 |
Rs.85.16 |
|
Euro |
1 |
Rs.67.78 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.