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Report Date : |
27.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
SPECT INDUSTRIAL PRODUCTS CC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
08.10.2007 |
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Com. Reg. No.: |
2007/201662/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
Wholesale Trade In Construction Material,
Hardware, Plumbing and Heating Equipment |
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No. of Employees : |
25 |
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – 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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
SPECT
INDUSTRIAL PRODUCTS CC |
|
Country |
SOUTH
AFRICA |
|
Subject
Contact Person |
ERROL
TROMPETER - MEMBER |
|
Assessment |
This
is an established business. On investigation contact was made with the member
MR. ERROL TROMPETER at the concern. The business has been in operation for 5
years. A bank code C was obtained for an enquiry amount of R 500 000 over a
period of 30 days. No adverse information was revealed during the
investigation. Please see the information obtained below. |
|
Registered
Name |
SPECT
INDUSTRIAL PRODUCTS CC |
|
Trading
as/ Division Name |
NONE |
|
Previous
Name |
NONE |
|
Date
of Name Change |
NONE |
|
Registration
Number |
2007/201662/23 |
|
Registration
Date |
2007/10/08 |
|
Date
Commenced Trading |
OCTOBER
2001 |
|
Age
of Business |
5
Years |
|
History
of Business |
SPECT INDUSTRIAL PRODUCTS
CC was registered in October 2007 and operations commenced immediately. |
|
History
of Principals |
The
directors have been with the concern since inception |
|
Shareholders/Members/Partners
of subject and % holding |
50
% - ERROL TROMPETER, 50 % - MARK REEKIE |
|
Authorised
Share Capital |
R
0.00 |
|
Issued
Share Capital/Members Contribution |
R
0.00 |
|
Status |
In
Business |
|
Operations
Assessment |
The
company operates as an agent, distributor and manufacturer's representative of
fire retardent sealing tapes for BERRY PLASTICS CORROSION PROTECTION GROUP,
brand names include (COVALENCE, POLYKEN, POWERCRETE, ANODEFLEX) and WELSPUN
PIPES |
|
Industry/
Customers |
MINING,
AEROSPACE, CONSTRUCTION, AUTOMOTIVE |
|
Export |
|
|
Export
Countries |
Martinique |
|
Import |
|
|
Import
Countries |
|
|
Major
Industry Code / SICC |
61430 |
|
Definition
of Code |
WHOLESALE
TRADE IN CONSTRUCTION MATERIAL,HARDWARE,PLUMBING AND HEATING EQUIPMENT |
|
Head
Office Physical Address |
48
RUTLAND ROAD, PARKWOOD, 2193 |
|
Head
Office Postal Address |
PO
BOX 522012, SAXONWOLD, 2132 |
|
Current
Tel Number |
0114470537 |
|
Cell
Number |
0823309343
/ 0829267566 |
|
Current
Fax Number |
0865677306 |
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Current
Email Address |
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Web
Site Address |
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|
Comments |
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Company Registered Name |
JOHN EDWARD PUGSLEY |
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Physical Address |
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Postal Address |
PO BOX 629, MORNINGSIDE, 2057 |
|
Subject Verified as Client |
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Practice Number |
M215542T |
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Financial Year End |
|
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No of years in Business |
Unknown |
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Website |
|
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Comment |
The current
auditor has retired, the concern is in the process of appointing a new
auditor |
Previous
Auditors Information - No Information on Record
|
Vat
Number |
4850155666 |
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Status |
ACTIVE |
|
Vat
Liable Date |
|
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Tax
Number |
9216610163 |
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Tax
Clearance Expire Date |
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Financial
Year End |
June |
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Black
Economic Empowerment |
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Status |
Yes |
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Expire
Date |
|
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BEE
Certificate Available |
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|
Comment |
The
concern is a micro enterprise.Level 4 BEE score |
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ISO Status |
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Type
of ISO Grade |
ISO
9001:2000 |
|
ISO
Certificate |
Yes |
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ISO
Certificate Available |
Yes |
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Certified
by an Accredited Agent |
Yes |
|
Comment |
The
attached ISO certificate provided pertains to the product being traded by the
subject. BERRY PLASTICS CPG products are subjected to a broad range of
testing and compliance in accordance with Global Industry Standards and
customer specifications including: AF, BS, AWWA,
CSA, DIN, DVGW, EN, GDF, IDGA, ISO, PDVSA |
|
Workman's
compensation |
|
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Registered |
Yes |
|
Compliance
Certified |
Yes |
|
Comment |
|
Subsidiaries
|
Subsidiary
Company |
There
are no reported subsidiaries |
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Number
of Employees |
25 |
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1.
Salaried employees |
6 |
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2.
Waged employees |
0 |
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3.
Permanent employees |
0 |
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4.
Casual employees |
19 |
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5.
Contracted employees |
0 |
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Comment |
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Company
Fleet |
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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 |
0 |
|||
|
Comment |
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|||
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|
0 |
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Offices |
Offices |
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Head
Office Owned/ Rented |
Leased |
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Lease
Agreement |
None |
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Lease
Expire Date |
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Type
of Premises |
Office
in a residential area |
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Comment |
|
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Branch
Information |
||
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Branches Names |
Country |
Province |
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There are no
reported branches |
South Africa |
Gauteng |
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Branch
Detail Information |
||
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Branches
Owned/ Rented |
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Rental
Company |
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Owned
by |
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Organisation Chart
|
Level |
Position |
Name |
Comment |
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|||
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1 |
MEMBER |
ERROL TROMPETER |
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2 |
MEMBER |
MARK REEKIE |
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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 |
AVEX |
0119744855 |
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2 |
NIGHTWING |
0114400114 |
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Trade References Detail
|
Nr |
Age
of Acc |
Credit
Limit |
Max
Credit |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
|
1 |
2 YEARS |
|
R 1000 |
30
DAYS |
R 4000 |
30 DAYS |
GOOD ACCOUNT |
|
2 |
3 YEARS |
R 5000.00 |
R 4000 |
30
DAYS |
R 1500 |
30 DAYS |
GOOD ACCOUNT |
Adverse
Information on Subject
Judgements
|
Judgements |
0 |
|
Possible
Judgements |
0 |
|
Civil
Court |
0 |
|
RDs |
NONE |
|
Comment |
No
Information on Record |
Business Rescue
|
Date registered |
Business rescue
practitioner |
Contact
Information |
Details |
Comment |
|
|
NONE |
No Information on
Record |
No Information on Record |
No Information on
Record |
Default
Listings
|
Date |
Details |
Comment |
|
|
NONE |
No Information on Record |
|
Notarial
Bonds |
||
|
Date |
Details |
Comment |
|
|
NONE |
No Information on Record |
|
Bank |
Standard
Bank |
|
Branch |
SANDTON |
|
Brach
Code |
019205 |
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Bank
Account Number |
200629840 |
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Type
of Account |
CHEQUE
ACCOUNT |
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Account
Name |
SPECT
INDUSTRIAL PRODUCTS CC |
|
Overdraft
Facilities |
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Bank
Code |
C |
|
Bank
Comment |
The
subject's bankers consider them good for all business normal engagements |
Bank Codes History
|
Date requested |
Bank
Code |
Enquiry Amount |
Number of RD's |
RD
amount |
RD
Date |
Bank Comments |
Years with bank |
Comment |
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Previous Bank Account Information - No Information on
Record
Deeds Information - No information on record
Financial Estimates
|
Current
Turnover per annum |
R
2000000.00 |
|
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 |
|
Number
of Principals |
2 |
|
Average
Age of Active Principals |
49 |
|
Active
Principals Principal - 1 of 2 ERROL TROMPETER |
|
|
Surname |
TROMPETER |
|
First
Name |
ERROL |
|
Other
Names |
NONE |
|
Marital
Status |
Married |
|
ID
Number |
5107175104080 |
|
Verified
ID Number |
Yes |
|
Current
Age |
61 |
|
Designation |
CONSULTANT |
|
Status |
Active |
|
Appointment
Date |
2007/10/08 |
|
Physical
Address (at time of Appointment) |
48
RUTLAND ROAD, PARKWOOD, 2193 |
|
Postal
Address |
PO
BOX 522012, SAXONWOLD, 2132 |
|
Current
Tel Number |
0114470537 |
|
Cell
number |
0823309342 |
|
Shareholding/Membership |
5.0000 |
Principal's Adverse - No information on record
Business Information for ERROL TROMPETER
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
SPECT INDUSTRIAL PRODUCTS CC |
2007/201662/23 |
In Business |
5 Years 5 Months |
0 |
No |
|
|
SPECT
INDUSTRIAL PROJECTS |
5107175104080 |
|
Unknown |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 20 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
EASTVAAL PROJECTS CC |
B1992/030222/23 |
In Liquidation |
20 Years 8 Months |
0 |
Yes |
|
Principal's
Deeds Information - No information on record
Principal
- 2 of 2 MARK REEKIE
|
Surname |
REEKIE |
|
First Name |
MARK |
|
Other Names |
NONE |
|
Marital Status |
Married |
|
ID Number |
7502285119085 |
|
Verified ID Number |
Yes |
|
Current Age |
37 |
|
Designation |
BRAND MANAGER |
|
Status |
Active |
|
Appointment Date |
2007/10/08 |
|
Physical Address (at time of Appointment) |
27 ORCHARD AVENUE, BORDEAUX, 2194 |
|
Postal Address |
PO BOX 24, MORNINGSIDE, 2057 |
|
Current Tel Number |
0114828001 |
|
Cell number |
0821267566 |
|
Shareholding/Membership |
5.0000 |
Principal's Adverse - No information on record
Business Information for MARK REEKIE
Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
SPECT INDUSTRIAL PRODUCTS CC |
2007/201662/23 |
In Business |
5 Years 5 Months |
0 |
No |
|
Principal's Deeds Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.63 |
|
|
1 |
Rs.86.17 |
|
Euro |
1 |
Rs.69.74 |
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.