|
Report Date : |
16.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
CARGELO INVESTMENTS (PTY)LTD |
|
|
|
|
|
|
Registered Office : |
9 Jane Lane,
KLIPOORTJIE A.H, GERMISTON, 1400 |
|
|
|
|
|
|
Country : |
South Africa |
|
|
|
|
|
|
Date of Incorporation : |
28.02.2008 |
|
|
|
|
|
|
Com. Reg. No.: |
2008/005413/07 |
|
|
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
|
|
Line of Business : |
The subject
Manufactures Gaskets and Seals. |
|
|
|
|
|
|
No. of Employees : |
3 |
|
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 (31.03.2011) |
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 Unemployment remains high and outdated infrastructure has constrained growth.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 |
CARGELO
INVESTMENTS (PTY)LTD |
|
Country |
South
Africa |
|
Requested
Credit Limit |
$
15000000.00 |
|
Enquiry
Terms |
COD |
|
Account
Review |
Recommended
Every 6 Months |
|
Subject
Contact Person |
ELEANOR
ESPLIN - Director |
|
Assessment |
This
is an established business. On investigation we made contact with the subject
and we were referred to the Director MRS. ELEANOR ESPLIN who assisted with all
the required information. Regarding the trade referrences MRS ESPLIN stated
that the subject only has 1 local supplier and therefore we were only able to
obtain 1 trade reference. However the subject is meeting commitments
timeously with their local supplier. We await a bank code. Please see the
available information for the subject below. |
|
Registered
Name |
CARGELO
INVESTMENTS (PTY)LTD |
|
Trading
as/ Division Name |
WESTON
TECH |
|
Previous
Name |
|
|
Date
of Name Change |
|
|
Registration
Number |
2008/005413/07 |
|
Registration
Date |
2008/02/28 |
|
Date
Commenced Trading |
2008-02-28 |
|
Age
of Business |
4
Years 8 Months |
|
History
of Business |
The
subject started out as a new business in 2008 |
|
History
of Principals |
There
are 3 active principals withing the company. |
|
Shareholders/Members/Partners
of subject and % holding |
34% ANTHONY MAINO, 33% LISA
STOGER, 33% ELEANOR ESPLIN |
|
Authorised
Share Capital |
R1000.00 |
|
Issued
Share Capital/Members Contribution |
R
300.00 |
|
Status |
In
Business |
|
Operations
Assessment |
The
subject Manufactures Gaskets and Seals. |
|
Industry/
Customers |
All
Major Gasket Companies and Eskom |
|
Export |
None |
|
Export
Countries |
|
|
Import |
None |
|
Import
Countries |
|
|
Major
Industry Code / SICC |
35690 |
|
Definition
of Code |
|
|
Head
Office Physical Address |
9
Jane Lane, KLIPOORTJIE A.H, GERMISTON, 1400 |
|
Head
Office Postal Address |
P
0 BOX 1547, GLENVISTA, 2058 |
|
Current
Tel Number |
0118272873 |
|
Cell
Number |
|
|
Current
Fax Number |
0118274951 |
|
Current
Email Address |
|
|
Web
Site Address |
|
|
Comments |
|
|
Company
Registered Name |
TJ
BOTHASPANGENBERG INC |
|
Trading
Name |
|
|
Registration
Number |
2006/009552/21 |
|
Physical
Address |
57
Charl Cilliers Avenue, ALBERTON, 1449 |
|
Postal
Address |
PO
Box 393, ALBERTON, 1450 |
|
Contact
Person |
BEN
SHCEEPERS |
|
Contact
Number |
0119072004 |
|
Email |
liza@t
j bot ha. co. za |
|
Principals |
2 |
|
Judgements
Against Subject |
|
|
Judgements
Against Principals |
|
|
Subject
Verified as Client |
Yes |
|
Practice
Number |
916439 |
|
VAT
Number |
4280227929 |
|
Tax
Number |
9273082173 |
|
BEE
Status |
|
|
Financial
Year End |
February |
|
No
of years in Business |
2 |
|
Website |
|
|
Comment |
|
Previous Auditors
|
Company Name |
Phone Number |
Time with
previous auditors |
Comment |
|
PAPAILSKY HURWITZ |
|
Unknown |
|
|
Vat
Number |
4750247381 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
2008/07/01 |
|
Tax
Number |
9050397182 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
July |
|
Comment |
|
|
Black
Economic Empowerment |
|
|
Status |
Yes |
|
Score |
4.00 |
|
Expire
Date |
Jul
31 2013 |
|
BEE
Certificate Available |
No |
|
Comment |
|
|
|
|
|
ISO
Information - No Information on Record |
|
|
Workman's
compensation |
|
|
Registered |
No |
|
Compliance
Certified |
No |
|
Comment |
|
Subsidiaries
Information - No Information on Record
|
Employees |
||||
|
Number
of Employees |
3 |
|||
|
1.
Salaried employees |
3 |
|||
|
2.
Waged employees |
|
|||
|
3.
Permanent employees |
3 |
|||
|
4.
Casual employees |
|
|||
|
5.
Contracted employees |
|
|||
|
Comment |
|
|||
|
Company
Fleet |
||||
|
Company
Fleet |
No
of vehicles: |
Ownerd/Leased |
Value |
Outstanding
Balance |
|
Fleet
Operations |
|
|
|
|
|
The
Fleet is made up of |
1 |
|||
|
Comment |
|
|||
|
Light
delivery Vehicles |
1 |
Leased |
R217000.00 |
|
|
|
Offices
Information |
- No
Information on Record |
|
|
||
|
|
Branch
Information |
- No
Information on Record |
Organisation
Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
Director |
ANTHONY AMINO |
|
|
|
|||
|
1 |
Director |
LISA STOGER |
|
|
|
|||
|
1 |
Director |
ELEANOR ESPLIN |
|
Company
Structure (Ownership)
Note:
One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
34% |
ANTHONY AMINO |
|
|
|
33% |
LISA STOGER |
|
|
|
33% |
ELEANOR ESPLIN |
|
|
Key
Deals - No Information on Record
Trade References
|
Trade Reference
nr |
Supplier |
Contact |
Surety Value |
Notarial
Bonds |
Comment |
|
1 |
ABSOLUTE GASKETS |
011 8722354 |
|
|
|
Trade
References Detail
|
Nr |
Age of Acc |
Credit
Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
1 Years |
|
R 450000 |
30
Days |
R 200000 |
30 Days |
This is a Excellent account. |
Judgements - No information on record
BusinessRescue - No Information on Record
Default Listing - No information on record
Notarial Bonds - No information on record
|
Bank |
NEDBANK |
|
Branch |
THE
GLEN |
|
Brach
Code |
|
|
Bank
Account Number |
1385064358 |
|
Type
of Account |
CURRENT |
|
Account
Name |
CARGELO
INVESTMENTS (PTY)LTD |
|
Overdraft
Facilities |
None |
|
Bank
Code |
|
|
Bank
Comment |
|
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 |
R2100000.00 |
|
Stock |
R
809000.00 |
|
Debtors |
R
697000.00 |
|
FIXED
ASSETS |
R217000.00 |
|
Plant,
Equipment, Vehicles |
R217000.00 |
|
Property |
|
|
CURRENT
LIABILITIES |
R125942.00 |
|
Creditors |
R100000.00 |
|
Loans/
From? |
|
|
Loan
Details |
|
|
LONG
TERM LIABILITIES |
|
|
Morgage
Bonds |
|
|
Previous
Year Turnover |
R
2900000.00 |
|
Estimated
Current Year Turnover |
R
3800000.00 |
|
Current
Turnover per month |
R
320000.00 |
|
Current
Turnover per annum |
|
|
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 |
3 |
|
Average
Age of Active Principals |
39 |
|
Active
Principals Principal - 1of 3 ANTHONY MAINO |
|
|
Surname |
MAINO |
|
First
Name |
ANTHONY |
|
Other
Names |
None |
|
Marital
Status |
Married |
|
ID
Number |
7308025069089 |
|
Verified
ID Number |
Yes |
|
Current
Age |
39 |
|
Designation |
TECHNICAL
MANGER |
|
Status |
Active |
|
Appointment
Date |
2008/02/28 |
|
Physical
Address (at time of Appointment) |
NO
6 EQUINOX SOETDORING STREET, BASSONIA, 2190 |
|
Postal
Address |
P
O BOX 1769, ALBERTON, 1450 |
|
Current
Tel Number |
0114322106 |
|
Cell
number |
0718559605 |
|
Shareholding/Membership |
0.0000 |
Principal's Adverse - No information on record
Business Information forA NTHONY MAINO
Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
CARGELO INVESTMENTS (PTY) LTD |
2008/005413/07 |
In
Business |
4 Years 4 Months |
0 |
No |
|
|
1
E GASKET AND PRESSING (SA) CC |
B1991/030361/23 |
Conversion
CO/CC or CC/CO |
21
Years 9 Months |
0 |
No |
|
|
BLUE ONYX
INTEGRATED PROPERTIES (PTY) LTD |
M2009/008348/07 |
In
Business |
3 Years 3 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 27 Years
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
INSPIRIMAX
COACHING AND CONSULTING (PTY) LTD |
2008/004171/07 |
Deregistration
Final |
4
Years 4 Months |
0 |
No |
|
|
CLAUDLYNN
INVESTMENTS CC |
B1996/062010/23 |
Conversion
CO/CC or CC/CO |
16
Years 4 Months |
0 |
No |
|
|
RENSOR
PROPERTY CC |
B2002/066233/23 |
Conversion
CO/CC or CC/CO |
10
Years 10 Months |
0 |
No |
|
|
I G TOOLING PROPERTY INVESTMENTS (PTY)
LTD |
M1948/031302/07 |
In
Business |
64
Years 4 Months |
0 |
No |
|
|
I
G TOOLING AND LIGHT ENGINEERING (PTY) LTD |
M1970/010777/07 |
In
Business |
42
Years 6 Months |
0 |
No |
|
Principal's Deeds Information - No information on record
Principal - 2of 3
LISA STOGER
|
Surname |
STOGER |
|
First
Name |
LISA |
|
Other
Names |
None |
|
Marital
Status |
Married |
|
ID
Number |
7401140094080 |
|
Verified
ID Number |
Yes |
|
Current
Age |
38 |
|
Designation |
ATTORNEY |
|
Status |
Active |
|
Appointment
Date |
2008/02/28 |
|
Physical
Address (at time of Appointment) |
6
EQUINOX, SOETDORING STREET, BASSONIA, GAUTENG, 2190 |
|
Postal
Address |
P
O BOX 82038, SOUTHDALE, GAUTENG, 2135 |
|
Current
Tel Number |
0118272873 |
|
Cell
number |
|
|
Shareholding/Membership |
0.0000 |
Principal's Adverse - No information on record
Business Information forL ISA STOGER
Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
CARGELO INVESTMENTS (PTY) LTD |
2008/005413/07 |
In Business |
4
Years 4 Months |
0 |
No |
|
|
THE
FICA FILES (PTY) LTD |
K2012/116604/07 |
In Business |
0 |
0 |
No |
|
|
MAINO
STn++GER INC |
K2012/119422/21 |
In Business |
0 |
0 |
No |
|
|
THE INTERNATIONAL
BIBLE SOCIETY OF SOUTHERN AFRICA |
M1998/020388/08 |
In Business |
14
Years 2 Months |
0 |
No |
|
|
BLUE
ONYX INTEGRATED PROPERTIES (PTY) LTD |
M2009/008348/07 |
In Business |
3
Years 3 Months |
0 |
No |
|
Principal's Deeds Information - No information on record]
Principal
- 3of 3 ELEANOR ESPLIN
|
Surname |
ESPLIN |
|
First
Name |
ELEANOR |
|
Other
Names |
None |
|
Marital
Status |
Divorced |
|
ID
Number |
7003040212083 |
|
Verified
ID Number |
Yes |
|
Current
Age |
42 |
|
Designation |
PERSONAL
ASSISTANT |
|
Status |
Active |
|
Appointment
Date |
2008/02/28 |
|
Physical
Address (at time of Appointment) |
2
VISTA SUN, 85 VISTA DRIVE, GLENVISTA, 2058 |
|
Postal
Address |
P
0 BOX 1547, GLENVISTA, 2058 |
|
Current
Tel Number |
0116886123 |
|
Cell
number |
0824504650 |
|
Shareholding/Membership |
0.0000 |
Principal's Adverse - No information on record
Business Information forE LEANOR ESPLIN
Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
CARGELO INVESTMENTS (PTY) LTD |
2008/005413/07 |
In Business |
4 Years 4 Months |
0 |
No |
|
|
BLUE ONYX INTEGRATED
PROPERTIES (PTY) LTD |
M2009/008348/07 |
In Business |
3 Years 3 Months |
0 |
No |
|
Principal's Deeds Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.12 |
|
|
1 |
Rs.85.14 |
|
Euro |
1 |
Rs.68.60 |
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.