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Report Date : |
05.04.2013 |
IDENTIFICATION DETAILS
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Name : |
MAXWELD AND BRAZE (PTY)LTD |
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Registered Office : |
19 Van Dyk Road,
Boksburg, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
25.05.2000 |
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Com. Reg. No.: |
M2000/010018/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Wholesale trade in construction materials, hardware, plumbing and
heating equipment and supplies |
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No. of Employees : |
Not available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 (31.03.2012) |
Current Rating (30.06.2012) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
MAXWELD AND BRAZE (PTY)LTD |
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Country |
South Africa |
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Subject Contact Person |
GERDA VANAS - Financial Manager |
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Assessment |
On investigation contact was made with the Financial Manager MRS. GERDA VANAS who requested a questionnaire to be sent through for completion. On following up on the questionnaire it was stated that the information is being gathered. Once the information is received, the same will be compiled and sent. Please see the available information on the subject below. |
|
Registered Name |
MAXWELD AND BRAZE (PTY)LTD |
|
Trading as/ Division Name |
MAXWELD AND BRAZE |
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Previous Name |
None |
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Registration Number |
M2000/010018/07 |
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Registration Date |
2000/05/25 |
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Date Commenced Trading |
2000-05-25 |
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Age of Business |
12 Years 10 Months |
|
History of Business |
The subject was
established as a new business in 2000 and operations commenced immediately. |
|
History of Principals |
There is 1 active director within the business. |
|
Shareholders/Members/Partners of subject and % holding |
100 % - WELDAMAX (PTY) LTD |
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Authorised Share Capital |
R1000.00 |
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Issued Share Capital/Members Contribution |
R 100.00 |
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Status |
In Business |
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Operations Assessment |
The subject wholesales welding supplies |
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Industry/ Customers |
All major construction companies and
Hardware stores |
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Major Industry Code / SICC |
61430 |
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Definition of Code |
Wholesale trade in construction materials,
hardware, plumbing and heating equipment and supplies |
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Head Office Physical Address |
19 Van Dyk Road, BOKSBURG, GAUTENG |
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Head Office Postal Address |
P 0 BOX 663, BENONI, 1500 |
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Current Tel Number |
0118419800 |
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Current Fax Number |
0118419880 |
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Current Email Address |
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Web Site Address |
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Company Registered Name |
MOORE STEPHENS FFRS INC |
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Trading Name |
MOORE STEPHENS FFRS |
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Registration Number |
M2006/018138/21 |
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Physical Address |
MOORE STEPHENS HOUSE, 6 LAKESIDE PLACE, KLEINFONTEIN LAKE, BENONI,
1501 |
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Postal Address |
PO BOX 663, BENONI, 1500 |
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Contact Person |
BERNADINE |
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Contact Number |
0114218374 |
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Principals |
5 |
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Subject Verified as Client |
Yes |
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Practice Number |
902317E |
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VAT Number |
4750228712 |
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Tax Number |
9221278162 |
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Financial Year End |
December |
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No of years in Business |
3 |
Previous Auditors
|
Company Name |
Phone Number |
Time with previous auditors |
Comment |
|
DOUGLAS DIX -PEEK AND COMPANY |
|
Unknown |
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ERNST AND YOUNG |
|
Unknown |
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NEXIA EAST RAND INCORPORATED |
|
8 |
|
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NEXIA HBLT CHARTERED ACCONTANTS (EAST RAND) INCORPORATED |
|
7 |
|
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Vat Number |
4290190638 |
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Status |
ACTIVE |
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Vat Liable Date |
2000/11/01 |
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Tax Number |
9001244145 |
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Financial Year End |
December |
Black Economic Empowerment Information - No Information on Record
ISO Information - No Information on Record
Work Mans Information - No Information on Record
Subsidiaries Information - No Information on Record
Employees Information - No Information on Record
Company Fleet Information - No Information on Record
Offices Information - No Information on Record
Branch Information - No Information on Record
Organisational Chart
- No Information on Record
Company Structure
Information - No Information on Record
Note: One level up and
all levels down
Key Deals - No
Information on Record
Trade References
Information - No Information on Record
Business Rescue - No
Information on Record
Judgements - No
information on record
Default Listing - No
information on record
Notarial Bonds - No
information on record
Bank Information - No
Information on Record
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 |
50 |
|
Active
Principals Principal - 1of 1 JOHN SMITHYMAN |
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Surname |
SMITHYMAN |
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First Name |
JOHN |
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Other Names |
ARNOLD |
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Marital Status |
Married |
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ID Number |
6202085272181 |
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Verified ID Number |
Yes |
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Current Age |
51 |
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Designation |
Managing Director |
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Status |
Active |
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Appointment Date |
2007/05/22 |
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Physical Address (at time of Appointment) |
488 WINDEMERE ROAD, MORNINGSIDE, 4001 |
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Postal Address |
P 0 BOX 2368, RIVONIA, 2100 |
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Current Tel Number |
0118037193 |
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Cell number |
0722900108 |
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Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information
for JOHN SMITHYMAN
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
NUMBER 29 OLIFANTS NORTH CC |
B2001/058936/23 |
In Business |
11 Years 7 Months |
0 |
No |
|
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MAXWELD AND BRAZE (PTY)LTD |
M2000/010018/07 |
In Business |
12 Years 10 Months |
0 |
No |
|
|
WELDAMAX (PTY) LTD |
M2005/033316/07 |
In Business |
7 Years 6 Months |
0 |
No |
|
|
VIEWPOINT PORTFOLIO PROPERTIES (PTY) LTD |
M2007/002555/07 |
In Business |
6 Years 2 Months |
0 |
No |
|
|
ZENRUST PROPERTIES (PTY) LTD |
M2007/024388/07 |
In Business |
5 Years 7 Months |
0 |
No |
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Principal Previous Business Interests
Average Age of Previous Business 17 Years
|
Company
Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
||||
|
SELROD WELDING ELECTRODES CC |
B1985/003325/23 |
Conversion CO/CC orCC/CO |
28 Years |
0 |
No |
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||||
|
THERMADYNE SOUTH AFRICA (PTY)LTD |
M2000/001361/07 |
Deregistration Final |
13 Years 2 Months |
0 |
No |
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||||
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COMET INTERNATIONAL (PTY) LTD |
M1995/013916/07 |
In Business |
17 Years 3 Months |
0 |
No |
|
||||
|
SMOKEY MOUNTAIN TRADING 503 (PTY) LTD |
M2005/042504/07 |
Deregistration Final |
7 Years 3 Months |
0 |
No |
|
||||
|
MACAND ENTERPRISES 008 (PTY)LTD |
M2000/024240/07 |
In Business |
12 Years 6 Months |
0 |
No |
|
||||
|
COMPASS GROUP SOUTHERN AFRICA (PTY) LTD |
M1989/005005/07 |
In Business |
23 Years 7 Months |
1 |
No |
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||||
|
BEVONNE INVESTMENTS (PTY) LTD |
M1989/007349/07 |
Deregistration Final |
23 Years 3 Months |
0 |
No |
|
||||
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SUPERVISION FOOD SERVICES (TRANSKEI) (PTY) LTD |
M1989/060095/07 |
Deregistration Final |
23 Years 11 Months |
0 |
No |
|
||||
|
CELLSEARCH TECHNOLOGIES (PTY) LTD |
M2005/042608/07 |
Deregistration Final |
7 Years 3 Months |
0 |
No |
|
||||
|
KHULANI CATERING SERVICES (PTY)LTD |
M1989/000866/07 |
Deregistration Final |
24 Years 1 Months |
0 |
No |
|
||||
Principal's Deeds
Information - No information on record
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.65 |
|
UK Pound |
1 |
Rs.82.41 |
|
Euro |
1 |
Rs.70.08 |
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 |
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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 |
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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 |
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26-40 |
B |
Capability to overcome financial difficulties
seems comparatively below average. |
Small |
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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.