MIRA INFORM REPORT

Report Date :

05.04.2013

IDENTIFICATION DETAILS

Name :	N AND R FITTINGS CC

Registered Office :	Meredale Shoping Centre, 5 Lark Sreet, Meredale, JOHANNESBURG, 2091

Country :	South Africa

Date of Incorporation :	14.04.1993

Com. Reg. No.:	B1993/009143/23

Legal Form :	Close Corporation

Line of Business :	Wholesale trade in household furniture requisites and appliances

No. of Employees :	15

RATING & COMMENTS

MIRA’s Rating :

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 30^th, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

South Africa

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 Unemployment remains high and outdated infrastructure has constrained growth.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

Company name

Subject Name	N AND R FITTINGS CC
Country	South Africa
Enquiry Terms	COD
Account Review	Recommended Every 6 Months
Subject Contact Person	COLIN RUNGANAIKULU - Member
Assessment	This is an established business. On investigation contact was made with the member MR. COLIN RUNGANAIKULU who assisted with most of the information on the subject. The financial information was not revealed as this is considered confidential. Commitments are being met timeously with suppliers. A bank code C was obtained for an amount of R 130 000 over a period of 30 days. No adverse information was revealed during the investigation. Please see the available information on the subject below.

Auditors information

Company Registered Name	C G HARI CA
Trading Name	None
Registration Number	4801145093081
Physical Address	104 NERINA AVENUE, LENASIA, 1827
Postal Address	PO BOX 1364, LENASIA, 1820
Contact Person	CHANDRAKANT
Contact Number	0118525346
Email	Unavailable
Principals	1
Judgements Against Subject	None
Judgements Against Principals	None
Subject Verified as Client	Yes
Practice Number	Unavailable
VAT Number	4510163969
Tax Number	Unavailable
BEE Status	Unavailable
Financial Year End	Unavailable
No of years in Business	20
Website	Unavailable
Comment

Previous Auditors Information - No Information on Record

Tax information

Vat Number	4610136980
Status	ACTIVE
Vat Liable Date	1993/04/15
Tax Number	9421532848
Tax Clearance Expire Date
Financial Year End	February
Comment
Black Economic Empowerment
Status	Yes
Score	1.00
Expire Date	Oct 23 2013
BEE Certificate Available	No
Comment

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	15
1. Salaried employees	15
2. Waged employees
3. Permanent employees	15
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	5
Comment
Light delivery Vehicles	4	Owned
Trucks 1 Owned

Offices

Offices	Offices
Head Office Owned/ Rented	Owned
Rental Company
Owned by	N AND R FITTINGS CC
Value	R 4000000.00
Bond
Bank
Lease Agreement
Lease Expire Date
Type of Premises	Showroom and offices
Comment

Branch Information - No Information on Record

Management Overview

Holding	Company	Sub	Comment
50 % - ABIGAIL RUNGANAIKULU	N AND R FITTINGS CC
50 % - COLIN RUNGANAIKULU	N AND R FITTINGS CC

Trade References

Trade Reference nr	Supplier	Contact	Surety Value	Notarial Bonds	Comment
1	FR FASTNERS	011885252

2	CHATTEN MENU	0118288016
3	UPPER EDGE	0118652847

Trade References Detail

Nr	Age of Acc	Credit Limit	Max Credit	Terms	Average Purchases	Terms Taken	Comment
1	19 Years		R130000	30 Days	R 50000	30 Days	Excellent Account.The subject has an open account with the supplier.
2	20 Years		R 25000	30 Days	R10000	30 Days	Excellent Account,The subject has an open account with the supplier.
3	2002	R150000.00	R 40000	30 Days	R 35000	30 Days	This is a good account.

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	STANDARD BANK
Branch	The Glen
Brach Code	051001
Bank Account Number	202566307
Type of Account	Current
Account Name	N AND R FITTINGS CC
Overdraft Facilities	Yes
Bank Code	C for R 130 000
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 CompanyN AND R FITTINGS CC

Title Deed No.	ST13683/2003	Erf/Site No.	336
Deeds Office	JOHANNESBURG	Physical Address	5 LARK MEREDALE JOHANNESBURG SOUTH
Property Type	Sectional Title	Extent / Size	11.0SQM
Purchase Date	2002/08/07	Purchase price
% Ownership	0.00	Bond Holder	A B S A BANK LTD
Bond Number	SB212452001	Bond Amount
Comment

Title Deed No.	ST13683/2003	Erf/Site No.	336
Deeds Office	JOHANNESBURG	Physical Address	5 LARK MEREDALE JOHANNESBURG SOUTH
Property Type	Sectional Title	Extent / Size	71.0SQM
Purchase Date	2002/08/07	Purchase price
% Ownership	0.00	Bond Holder
Bond Number		Bond Amount
Comment

Title Deed No.	T22865/1999	Erf/Site No.	0
Deeds Office	CAPE TOWN	Physical Address	2 GREYTON MILNERTON MILNERTON
Property Type	Freehold	Extent / Size	1643.0SQM
Purchase Date	1998/12/21	Purchase price
% Ownership	0.00	Bond Holder
Bond Number		Bond Amount
Comment

Principal

Number of Principals	2
Average Age of Active Principals	48
Active Principals Principal - 1of 2 ABIGAIL RUNGANAIKULU
Surname	RUNGANAIKULU
First Name	ABIGAIL
Other Names	None
Marital Status	Married
ID Number	6604130230082
Verified ID Number	Yes
Current Age	47
Designation	Member
Status	Active
Appointment Date
Physical Address (at time of Appointment)	8 EDWARD AVENUE, EXTENSION 6, GLENVISTA, 2058
Postal Address	8 EDWARD AVENUE, EXTENSION 6, GLENVISTA, 2058
Current Tel Number	0119423428
Cell number	0832784000
Shareholding/Membership	50 %

Business Information forABIGAIL RUNGANAIKULU

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
N AND R FITTINGS CC	B1993/009143/23	In Business	20 Years	0	No
CC SHUP SHUZ CC	B2005/109834/23	In Business	7 Years 8 Months	0	No

Principal's Previous Business Interests - No information on record

Principal's Deeds Information - No information on record

Principal - 2of 2 COLIN RUNGANAIKULU

Surname	RUNGANAIKULU
First Name	COLIN
Other Names	None
Marital Status	Married
ID Number	6305315140050
Verified ID Number	Yes
Current Age	50
Designation	Member
Status	Active
Appointment Date
Physical Address (at time of Appointment)	302 ARTIMISIA STREET, ZAKARIYYA PARK,
Postal Address	PO BOX 5684, JOHANNESBURG, 2000
Current Tel Number	0114325899
Cell number	0824851425
Shareholding/Membership	50 %

Business Information forCOLIN RUNGANAIKULU

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
N AND R FITTINGS CC	B1993/009143/23	In Business	20 Years	0	No

Principal's Previous Business Interests - No information on record

Principal's Deeds Information - No information on record

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.64
UK Pound	1	Rs.82.41
Euro	1	Rs.70.07

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

Registered Name	N AND R FITTINGS CC
Trading as/ Division Name	N AND R FITTINGS
Previous Name	None
Date of Name Change
Registration Number	B1993/009143/23
Registration Date	1993/04/14
Date Commenced Trading	1993-04-14
Age of Business	20 Years
History of Business	The subject was established as a new business in 1993 and operations commenced immediately.
History of Principals	There are 2 active members within the business.
Shareholders/Members/Partners of subject and % holding	50 % - ABIGAIL RUNGANAIKULU, 50 % - COLIN RUNGANAIKULU
Authorised Share Capital	R 0.00
Issued Share Capital/Members Contribution	R 0.00
Status	In Business
Operations Assessment	The subject imports and wholesales furniture fittings
Industry/ Customers	All Major Hardware outlets such as Timber City and Builders Warehouse.
Export	None
Export Countries
Import	Yes
Import Countries
Major Industry Code / SICC	61391
Definition of Code	Wholesale trade in household furniture requisites and appliances
Head Office Physical Address	Meredale Shoping Centre, 5 Lark Sreet, Meredale, JOHANNESBURG, 2091
Head Office Postal Address	P O Box 65, GLENVISTA, JOHANNESBURG, 2058
Current Tel Number	0119413457
Cell Number
Current Fax Number	0119422619
Current Email Address	sales@nandrfittings.co.za
Web Site Address	www.nandrfittings.co.za
Comments