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Report Date : |
26.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
INTER |
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Registered Office : |
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Country : |
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Date of Incorporation : |
22.10.2009 |
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Com. Reg. No.: |
B2009/196878/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Manufacturer
of flexible metalic hoses, Hydraulics, Bellows and compensators |
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No. of Employees : |
08 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 |
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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 Unemployment remains high and outdated infrastructure has constrained growth.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 |
INTER
AFRICA ENGINEERING CC |
|
Country |
South
Africa |
|
Subject
Contact Person |
DAVID
SLOAN - DIRECTOR |
|
Assessment |
This is
an established business. On
investigation we made contact with the subject and we were referred to the
Director MR. DAVID SLOAN who assisted with most of the information for the
subject. MR. SLOAN declined to assist with the financial information for the
subject due to this information being confidential. The
subject is meeting commitments timeously with suppliers. We have obtained a
bank code C for an amount of R 300 000 over a period of 30 Days. Please see
the available information on the subject below. |
|
Registered
Name |
INTER
AFRICA ENGINEERING CC |
|
Trading
as/ Division Name |
INTER
AFRICA ENGINEERING |
|
Registration
Number |
B2009/196878/23 |
|
Registration
Date |
2009/10/22 |
|
Date
Commenced Trading |
2009-10-22 |
|
Age
of Business |
3
Years |
|
History
of Business |
The
subject started out as a new company in 2009. |
|
History
of Principals |
There
are 2 active Directors within the subject. |
|
Shareholders/Members/Partners
of subject and % holding |
74
% - DAVID SLOAN, 26 % - JAN DE LANGE |
|
Authorised
Share Capital |
R0.00 |
|
Issued
Share Capital/Members Contribution |
R0.00 |
|
Status |
In
Business |
|
Operations
Assessment |
Manufacture
of flexible metalic hoses, Hydraulics, Bellows and compensators. The subject
also does ISO CONSULTING |
|
Industry/
Customers |
Construction
sector and Corporate companies |
|
Export |
None |
|
Major
Industry Code / SICC |
35599 |
|
Head
Office Physical Address |
205
Sheffield Road, WADEVILLE, GAUTENG |
|
Head
Office Postal Address |
P.O
Box 11396, KENNINGTON, 2101 |
|
Current
Tel Number |
011
8274240 |
|
Current
Fax Number |
011
8277619 |
|
Current
Email Address |
|
Company
Registered Name |
N.
PATEL OF KALYAN AND ASSOCIATES |
|
Registration
Number |
5806085141088 |
|
Physical
Address |
62
Berby Road, BERTRAMS |
|
Postal
Address |
P
0 BOX 33641, JEPPESTOWN, 2043 |
|
Contact
Person |
SURIE |
|
Contact
Number |
0116243504 |
|
Email |
|
|
Principals |
1 |
|
Subject
Verified as Client |
Yes |
|
Practice
Number |
17336 |
|
Tax
Number |
0236103628 |
|
Financial
Year End |
February |
|
No
of years in Business |
3 |
Previous Auditors Information - No Information on Record
|
Vat
Number |
4950254427 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
2009/12/01 |
|
Tax
Number |
9431872168 |
|
Financial
Year End |
February |
|
Black
Economic Empowerment |
|
|
Status |
Yes |
|
Score |
4.00 |
|
BEE
Certificate Available |
No |
|
|
|
|
ISO
Information - No Information on Record |
|
|
Workman's
compensation |
|
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Registered |
Yes |
|
Compliance
Certified |
Yes |
Subsidiaries
Information - No Information on Record
|
Employees |
||||
|
Number
of Employees |
8 |
|||
|
1.
Salaried employees |
8 |
|||
|
2.
Waged employees |
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|||
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3.
Permanent employees |
8 |
|||
|
4.
Casual employees |
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|||
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5.
Contracted employees |
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|||
|
Comment |
|
|||
|
Company
Fleet |
||||
|
Company
Fleet |
No
of vehicles: |
Ownerd/Leased |
Value |
Outstanding
Balance |
|
Fleet
Operations |
|
|
|
|
|
The
Fleet is made up of |
1 |
|||
|
Comment |
|
|||
|
Cars |
1 |
Owned |
|
|
|
Offices |
Offices |
|
Head
Office Owned/ Rented |
Leased |
|
Rental
Company |
PERTIK
(GERMISTON) |
|
Type
of Premises |
Workshop
and Offices |
Branch
Information - No Information on Record
Organisation
Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
Director |
JAN DE LANGE |
|
|
|
|||
|
1 |
DIRECTOR |
DAVID SLOAN |
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Company
Structure (Ownership)
Note:
One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
74% |
DAVID SLOAN |
|
|
|
26% |
JAN DE LANGE |
|
|
Key Deals
- No Information on Record
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial
Bonds |
Comment |
|
1 |
PLUS FACTORY |
0110218334 |
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|
|
|
2 |
KUGGET S.A |
0113926727 |
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|
|
|
3 |
GLEN TAX |
0119003235 |
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|
|
|
Nr |
Age
of Acc |
Credit Limit |
Max
Credit |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
|
1 |
2 Years |
|
R 25000 |
30
Days |
R 20000 |
30 Days |
Good account.The client has Open
account. |
|
2 |
1 Years |
R
20000.00 |
R15000 |
30
Days |
R10000 |
30 Days |
Good Account |
|
3 |
3 Years |
R
50000.00 |
R 25000 |
30
Days |
R 25000 |
30 Days |
Good Account |
Judgements - No information on record
Business Rescue - No Information on Record
Default Listing - No information on record
Notarial Bonds - No information on record
|
Bank |
STANDARD
BANK |
|
Branch |
BEDFORD
GARDENS |
|
Bank
Account Number |
020524919 |
|
Type
of Account |
Current |
|
Account
Name |
INTER
AFRICA ENGINEERING CC |
|
Overdraft
Facilities |
Yes |
|
Bank
Code |
C |
|
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
|
Number
of Principals |
2 |
|
Average
Age of Active Principals |
49 |
|
Active
Principals Principal - 1of 2 JAN DE LANGE |
|
|
Surname |
DE
LANGE |
|
First
Name |
JAN |
|
Other
Names |
None |
|
Marital
Status |
Married |
|
ID
Number |
6609025195084 |
|
Verified
ID Number |
Yes |
|
Current
Age |
46 |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2010/10/06 |
|
Physical
Address (at time of Appointment) |
185
GRENS STREET, BUCILIA, 1929 |
|
Postal
Address |
P
0 BOX 28563, KENSINGTON, 2101 |
|
Current
Tel Number |
0118274240 |
|
Shareholding/Membership |
25.0000 |
Adverse Information forJAN DE LANGE Principal
Judgement
|
Number
of Judgements |
0 |
|
Principal
Debt Review |
|
|
Debt
review |
No
Information on Record |
|
Other |
|
|
Default
data |
No
Information on Record |
Business
Information forJAN DE LANGE
Principal
Current Business Interests
|
Company
Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
INTER
AFRICA ENGINEERING CC |
B2009/196878/23 |
In Business |
3 Years 3 Months |
0 |
No |
|
|
BELTON PARK
TRADING 175 (PTY) LTD |
M2011/007891107 |
In Business |
1 Years 1 Months |
0 |
No |
|
Principal previous Business Interests
Average
Age of Previous Business 11
years
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
GENERAL
PROFESSIONAL MAINTENANCE AND LABOUR SERVICES CC |
B1991/013361/23 |
Deregistration
Final |
21
Years 9 Months |
0 |
No |
|
|
MIDVAAL
ALL ROUND TRADING CC |
B2008/088987/23 |
Deregistration
Final |
4
Years 4 Months |
0 |
No |
|
|
PIRTEK
(GERMISTON) (PTY) LTD |
M2002/018565/07 |
In
Business |
10
Years 10 Months |
1 |
No |
|
Principal's
Deeds Information - No information on record
Principal
- 2of 2 DAVID SLOAN
|
Surname |
SLOAN |
|
First
Name |
DAVID |
|
Other
Names |
None |
|
Marital
Status |
Single |
|
ID
Number |
6003115076083 |
|
Verified
ID Number |
Yes |
|
Current
Age |
52 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment
Date |
2009/10/22 |
|
Physical
Address (at time of Appointment) |
4
ROCKERT ROAD, KENSINGTON, 2094 |
|
Postal
Address |
P
0 BOX 258563, KENSINGTON, 2101 |
|
Current
Tel Number |
0116144250 |
|
Cell
number |
0823304999 |
|
Shareholding/Membership |
75% |
Adverse Information
for DAVID SLOAN Principal Judgement
|
Number
of Judgements |
1 |
|
Principal
Debt Review |
|
|
Debt
review |
No
Information on Record |
|
Other |
|
|
Default
data |
No
Information on Record |
Business
Information for DAVID SLOAN
Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
KAHBZELA
INVESTMENTS CC |
B1985/006357/23 |
In
Business |
27
Years 3 Months |
0 |
No |
|
|
SHABBAHTAINMENT
CC |
B2002/065297/23 |
Deregistration
Final |
10
Years 10 Months |
0 |
No |
|
|
CAROLINE ACCOMMODATION
CC |
B2003/093672/23 |
Deregistration
Final |
9
Years 9 Months |
0 |
No |
|
|
99
TWIST STREET CC |
B2003/093673/23 |
Deregistration
Final |
9
Years 9 Months |
0 |
No |
|
|
SEED
BUSINESS DEVELOPMENT (PTY) LTD |
M1999/012507/07 |
Deregistration
Final |
13
Years 1 Months |
0 |
No |
|
|
SEED
LEISURE (PTY) LTD |
M2001/029691
/07 |
In
Business |
11
Years 11 Months |
0 |
No |
|
|
PIRTEK GERMISTON
(PTY) LTD |
M2005/027644/07 |
Deregistration
Final |
7
Years 7 Months |
0 |
No |
|
|
ECO POWER
SOLUTIONS (PTY)LTD |
M2005/029222/07 |
Deregistration
Final |
7
Years 7 Months |
0 |
No |
|
Principal
Current Business Interests
Average
Age of Previous Business 11
years
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
KAHBZELA
INVESTMENTS CC |
B1985/006357/23 |
In
Business |
27
Years 3 Months |
0 |
No |
|
|
SHABBAHTAINMENT
CC |
B2002/065297/23 |
Deregistration
Final |
10
Years 10 Months |
0 |
No |
|
|
CAROLINE ACCOMMODATION
CC |
B2003/093672/23 |
Deregistration
Final |
9
Years 9 Months |
0 |
No |
|
|
99
TWIST STREET CC |
B2003/093673/23 |
Deregistration
Final |
9
Years 9 Months |
0 |
No |
|
|
SEED
BUSINESS DEVELOPMENT (PTY) LTD |
M1999/012507/07 |
Deregistration
Final |
13
Years 1 Months |
0 |
No |
|
|
SEED
LEISURE (PTY) LTD |
M2001/029691
/07 |
In
Business |
11
Years 11 Months |
0 |
No |
|
|
PIRTEK GERMISTON
(PTY) LTD |
M2005/027644/07 |
Deregistration
Final |
7
Years 7 Months |
0 |
No |
|
|
ECO POWER
SOLUTIONS (PTY)LTD |
M2005/029222/07 |
Deregistration
Final |
7
Years 7 Months |
0 |
No |
|
Principal's
Deeds Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.63 |
|
UK Pound |
1 |
Rs.86.18 |
|
Euro |
1 |
Rs.69.75 |
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.