MIRA INFORM REPORT
|
Report Date : |
04.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SENIOR
FLEXONICS SA (PTY)LTD T/A SENIOR AUTOMOTIVE |
|
|
|
|
Formerly Known As : |
SENIOR
AUTOMOTIVE (PTY)LTD |
|
|
|
|
Registered Office : |
11 Thor
Circle, Viking Place, Thornton, Cape Town, 7460 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
07.02.1997 |
|
|
|
|
Com. Reg. No.: |
M1997/001702/07 |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacture
of other motor vehicle parts and accessories |
|
|
|
|
No. of Employees : |
230 |
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 : |
Usually correct |
|
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 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 Unemployment remains high and outdated infrastructure has constrained growth.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 |
Company name
|
Subject Name |
SENIOR FLEXONICS
SA (PTY)LTD T/A SENIOR AUTOMOTIVE |
|
Country |
South Africa |
|
Enquiry Terms |
COD |
|
Account Review |
Recommended Every
6 Months |
|
Subject Contact
Person |
JOHN TENNENT -
Director |
|
Assessment |
This is an
established business. On investigation contact was made with Director MR.
JOHN TENNENT who assisted with the information. The subject is meeting
commitments timeously with it's suppliers. A bank code C was obtained for an
amount of R 10 000 000 over a period of 30 days. The subject's financial
information was not made available as it is considered to be confidential.
Please see the available information on the subject below. |
Company information
|
Registered Name |
SENIOR FLEXONICS
SA (PTY)LTD |
|
Trading as/
Division Name |
SENIOR AUTOMOTIVE |
|
Previous Name |
SENIOR AUTOMOTIVE
(PTY)LTD |
|
Date of Name
Change |
Sep 13 2010
12:00AM |
|
Registration
Number |
M1997/001702/07 |
|
Registration Date |
1997/02/07 |
|
Date Commenced
Trading |
1997-02-07 |
|
Age of Business |
16 Years 1 Months |
|
History of
Business |
The
subject was established as a new business in 1997 and operations commenced
immediately. It underwent a name change in September 2010. |
|
History of
Principals |
There are
currently 3 active directors within the business. |
|
Shareholders/Members/Partners
of subject and % holding |
100 % - SENIOR
PLC |
|
Authorised Share
Capital |
R 0.00 |
|
Issued Share
Capital/Members Contribution |
R 0.00 |
|
Status |
In Business |
|
Operations
Assessment |
Manufacture of
Exhaust Decuplers |
|
Industry/
Customers |
Automotive
Industry |
|
Export |
Yes |
|
Export Countries |
|
|
Import |
|
|
Import Countries |
|
|
Major Industry
Code / SICC |
38309 |
|
Definition of
Code |
Manufacture
of other motor vehicle parts and accessories |
|
Head Office
Physical Address |
11 THOR
CIRCLE, VIKING PLACE, THORNTON, CAPE TOWN, 7460 |
|
Head Office
Postal Address |
P O BOX 476,
EPPINDUST, 7475 |
|
Current Tel
Number |
0215325307 |
|
Cell Number |
|
|
Current Fax
Number |
0215325310 |
|
Current Email
Address |
|
|
Web Site Address |
www.senio
rflexonics .co.za |
|
Comments |
A further
breakdown of the export countries were not made available. |
Auditors information
|
Company Registered Name |
DELOITE AND TOUCHE INC |
|
Trading Name |
DELOITE AND TOUCHE |
|
Registration Number |
|
|
Physical Address |
27 Somerset Road, Cape Quarter,
Green Point, Cape Town, 8005 |
|
Postal Address |
P O BOX 578, CAPE TOWN, 8000 |
|
Contact Person |
ANDREW |
|
Contact Number |
0214275300 |
|
Email |
Unavailable |
|
Principals |
250 |
|
Judgements Against Subject |
None |
|
Judgements Against Principals |
None |
|
Subject Verified as Client |
Yes |
|
Practice Number |
918547E |
|
VAT Number |
Unavailable |
|
Tax Number |
Unavailable |
|
BEE Status |
Level 2 |
|
Financial Year End |
Unavailable |
|
No of years in Business |
16 |
|
Website |
Unavailable |
|
Comment |
|
|
Previous
Auditors |
|
|
Company Name Phone Number Time with previous auditors
Comment |
|
|
ARTHUR ANDERSON AND COMPANY |
16 |
Tax information
|
Vat Number |
4260164704 |
|
Status |
ACTIVE |
|
Vat Liable Date |
1997/04/01 |
|
Tax Number |
9149419849 |
|
Tax Clearance Expire Date |
|
|
Financial Year End |
December |
|
Comment |
|
Black
Economic Empowerment Information - No Information on Record
ISO
Information - No Information on Record
Workman's
compensation
|
Registered |
Yes |
|
Compliance Certified |
Yes |
|
Comment |
|
Company Structure
Subsidiaries
Information - No Information on Record
|
Employees |
|
|
Number of
Employees |
230 |
|
1. Salaried
employees |
230 |
|
2. Waged
employees |
|
|
3. Permanent
employees |
230 |
|
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 |
4 |
|
Comment |
|
|
Light delivery
Vehicles 4 Owned |
|
Offices
|
Offices |
Offices |
|
Head Office Owned/ Rented |
Leased |
|
Rental Company |
LOVEMORE |
|
Owned by |
|
|
Value |
R 30000000.00 |
|
Bond |
|
|
Bank |
|
|
Lease Agreement |
|
|
Lease Expire Date |
|
|
Type of Premises |
OFFICES AND FACTORY |
|
Comment |
|
Branch
Information - No Information on Record
Company
Structure (Ownership)
Management Overview
|
Holding |
Company |
Sub |
Comment |
|
100%-SENIOR PLC |
|||
Key Deals -
No Information on Record
Trade References
|
Trade
Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
|
1 |
COLLUMBUS STAINLESS STEEL |
0132479111 |
|
|
|
|
2 |
CAT
SUPPORT |
0217068138 |
|
|
|
|
3 |
NITMESH |
0414082500 |
|
|
|
Trade
References Detail
|
Nr |
Age of Acc |
Credit
Limit |
Max Credit |
Terms |
Average |
Terms
Taken |
Comment |
|
|
|
|
|
|
Purchases |
|
|
|
1 |
12 Years |
R15000000.00 |
R1700000 |
30 Days |
R1700000 |
30 Days |
Excellent
account |
|
2 |
7 Years |
R
450000.00 |
R 800000 |
30 Days |
R 350000 |
30 Days |
Excellent
Account |
|
3 |
7 Years |
|
R 650000 |
30 Days |
R 350000 |
30 Days |
Good Account the subject does not
have a credit limit with the supplier. |
Adverse
Information on Subject
Judgements -
No information on record
BusinessRescue
- No Information on Record
Default
Listing - No information on record
Notarial
Bonds - No information on record
Bank information
|
Bank |
FIRST NATIONAL
BANK |
|
Branch |
EPPING |
|
Brach Code |
250655 |
|
Bank Account
Number |
56830006099 |
|
Type of Account |
Current |
|
Account Name |
SENIOR FLEXONICS
SA(PTY)LTD |
|
Overdraft
Facilities |
Yes |
|
Bank Code |
C for R 10 000
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
Property
Interests for CompanySENIOR FLEXONICS SA (PTY)LTD T/A SENIOR
AUTOMOTIVE
|
Title Deed No. |
T48298/2010 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
NOORDLOCH AH
VANDERBIJLPARK |
|
Property Type |
Small Holding |
Extent / Size |
2.7838H |
|
Purchase Date |
2010/04/30 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
STANDARD BANK VAN
SUID-AFRIKA L |
|
Bond Number |
B291862010 |
Bond Amount |
|
|
Comment |
|
||
|
|
|||
|
Title Deed No. |
T18278/2011 |
Erf/Site No. |
|
|
Deeds Office |
BLOEMFONTEIN |
Physical Address |
909 UNKNOWN
BOTSHABELO-V BOTSHABELO |
|
Property Type |
Freehold |
Extent / Size |
410.0SQM |
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
|
Comment |
|
||
Principals
|
Number of
Principals |
3 |
|
Average Age of
Active Principals |
53 |
|
Active Principals Principal - 1of
3 JOHN
TENNENT |
|
|
Surname |
TENNENT |
|
First Name |
JOHN |
|
Other Names |
None |
|
Marital Status |
Married |
|
ID Number |
5712135810187 |
|
Verified ID
Number |
Yes |
|
Current Age |
56 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2009/03/01 |
|
Physical
Address (at time of Appointment) |
4 TABORA WAY,
NEWLANDS, CAPE TOWN, 7700 |
|
Postal Address |
11 THOR CIRCLE,
VIKING PLACE, THORNTON, CAPE TOWN, 7460 |
|
Current Tel
Number |
0219004315 |
|
Cell number |
0836448864 |
|
Shareholding/Membership |
0.0000 |
Business
Information forJOHN TENNENT
Principal
Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
SENIOR FLEXONICS
SA (PTY)LTD |
M1997/001702/07 |
In Business |
16 Years 1 Months |
0 |
No |
|
LTD%20TA%20SENIOR%20AUTOMOTIVE%20-%20215751%2004-Apr-2013_files/image001.gif)
Principal Previous Business Interests
Principal's
Deeds Information - No information on record
Principal -
2of 3 MICHAEL WILLIAM SHEPPARD
|
Surname |
SHEPPARD |
|
First Name |
MICHAEL WILLIAM |
|
Other Names |
None |
|
Marital Status |
|
|
ID Number |
5901200000000 |
|
Verified ID
Number |
No |
|
Current Age |
54 |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
1999/10/20 |
|
Physical
Address (at time of Appointment) |
7N230 BARB HILL
DRIVE, ST CHARLES ILLINOIS, 60175, UNITED STATES, 0000 |
|
Postal Address |
7N230 BARB HILL
DRIVE, ST CHARLES ILLINOIS, 60175, UNITED STATES, 0000 |
|
Current Tel
Number |
0215325300 |
|
Cell number |
|
|
Shareholding/Membership |
0.0000 |
Business
Information forMICHAEL WILLIAM SHEPPARD
Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
SENIOR FLEXONICS
SA (PTY)LTD |
M1997/001702/07 |
In Business |
16 Years 1 Months |
0 |
No |
|
|
SENIOR UK LIMITED (INCORPORATED IN
ENGLAND AND WALES) |
M2010/015804/10 |
In Business |
2 Years 8 Months |
0 |
No |
|
Principal's
Deeds Information - No information on record
Principal -
3of 3 ANTHONY MANCINI
Surname Mancini
First Name ANTHONY
Other Names None
Marital
Status Married
ID Number 6207145129081
Verified ID
Number Yes
Current Age 51
Designation Director
Status Active
Appointment
Date 1997/07/01
Physical
Address (at time of Appointment) 6
ORCHARD STREET, NEWLAND, 7700
Postal
Address P
O BOX 476, EPPINDUST, 7475
Current Tel
Number 0215325300
Cell number 0714275206
Shareholding/Membership 0.0000
Business
Information forANTHONY MANCINI
Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
SOUTH AFRICAN
AUTOMOTIVE BENCHMARKING CLUB |
K2012/185830/08 |
In Business |
5 Months |
0 |
No |
|
|
SENIOR FLEXONICS
SA (PTY)LTD |
M1997/001702/07 |
In Business |
16 Years 1 Months |
0 |
No |
|
|
Company
Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
MEDINE PRECISION
ENGINEERING CC |
B1987/006299/23 |
Deregistration
Final |
26 Years |
0 |
No |
|
Principal's Deeds
Information - No information on record
Principal
Previous Business Interest
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.38 |
|
|
1 |
Rs.82.04 |
|
Euro |
1 |
Rs.69.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.