MIRA INFORM REPORT

Report Date :

05.04.2013

IDENTIFICATION DETAILS

Name :	SPICE IMPORTERS AND MILLERS CC

Formerly Known as:	SPICE AND HERB IMPORTERS

Registered Office :	No 11 Betschana Road, Sebenza, Edenvale, 1610

Country :	South Africa

Date of Incorporation :	30.05.2001

Com. Reg. No.:	B2001/035286/23

Legal Form :	Closed Corporation

Line of Business :	Manufacturer of spices condiments vinegar yeast & other food products NEC

No. of Employees :	Not available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

Payment Behaviour :	Unknown

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 Unemployment remains high and outdated infrastructure has constrained growth.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

Subject Name	SPICE IMPORTERS AND MILLERS CC
Country	South Africa
Subject Contact Person	WENCKE LASCH - Member
Assessment	On investigation contact was made with the director MRS. WENKE LASCH a questionnaire to be sent to the company for completion. On following up on the questionnaire it was stated that they will require more time to complete the questionnaire. We are awaiting further information on the subject. Once this is received the same will be compiled and sent. Please see the available information on the subject below.

Auditors information

Company Registered Name	CORNELIS LOURENS CAMPHER
Trading Name	Unavailable
Registration Number	Unavailable
Physical Address	Unavailable
Postal Address	PO BOX 44902, LINDEN, 2104
Contact Person	Unavailable
Contact Number	Unavailable
Email	Unavailable
Judgements Against Subject	Unavailable
Judgements Against Principals	Unavailable
Practice Number	20933
VAT Number	Unavailable
Tax Number	Unavailable
BEE Status	Unavailable
Financial Year End	Unavailable
No of years in Business	1
Website	Unavailable

Previous Auditors

Company Name	Phone Number	Time with previous auditors	Comment
EBRAHIM AAAYAT		Unknown

Tax Information

Vat Number	4030235370
Status	ACTIVE
Vat Liable Date	2007/03/01
Tax Number	9597152140
Financial Year End	February

Black Economic Empowerment Information - No Information on Record

ISO Information - No Information on Record

Work Mans Information - No Information on Record

Company Structure

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

Management Overview

Organisation Chart

Level	Position	Name	Comment

1	Member	WENKE LASCH

1	Member	NADIA RASOOL

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
50 % - WENKE LASCH	SPICE IMPORTERS AND MILLERS CC
50 % - NADIA RASOOL	SPICE IMPORTERS AND MILLERS CC

Key Deals - No Information on Record

Trade References Information - No Information on Record

Adverse Information on Subject

Judgements - No information on record

Business Rescue - 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

Principals

Number of Principals	2
Average Age of Active Principals	48
Active Principals Principal - 1of 2 WENCKE LASCH
Surname	LASCH
First Name	WENCKE
Other Names	None
Marital Status	Single
ID Number	6905280041082
Verified ID Number	Yes
Current Age	44
Designation	Member
Status	Active
Appointment Date	2007/03/07
Physical Address (at time of Appointment)	NO 6 ANDALUCIA, NANYUKI STREET, SUNNINGHILL, 2021
Postal Address	POSTNET SUITE 195, PRIVATE BAG X1, EDENGLEN, 1613
Current Tel Number	0114621980
Cell number	0825647018
Shareholding/Membership	50%

Principal's Adverse - No information on record

Business Information for WENCKE LASCH

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
SPICE IMPORTERS AND MILLERS CC	B2001/035286/23	In Business	11 Years 11 Months	0	No
SPICE ME UP CC	B2010/095854/23	In Business	2 Years 10 Months	0	No
ZELPY1571 (PTY) LTD	M2002/021599/07	In Business	10 Years 7 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
SPICES INTERNATIONAL CC	B1989/021462/23	In Business	23 Years 9 Months	0	No
TRUST PROPERTY INVESTMENTS NO 2 CC	B1997/057578/23	Deregistration Final	15 Years 6 Months	0	No
EMPOWERED FOOD DISTRIBUTORS CC	B2005/135771/23	Deregistration Final	7 Years 7 Months	0	No
CINTSA COVE LODGE CC	B2005/135780/23	Deregistration Final	7 Years 7 Months	0	No
RENT A PICNIC CC	B2005/143054/23	Deregistration Final	7 Years 6 Months	0	No

Principal's Deeds Information - No information on record

Principal - 2of 2 NADIA RASOOL

Surname	RASOOL
First Name	NADIA
Other Names	None
Marital Status	Married
ID Number	6002140192089
Verified ID Number	Yes
Current Age	53
Designation	Member
Status	Active
Appointment Date	2007/02/08
Physical Address (at time of Appointment)	39A FIRST AVENUE, HOUGHTON, JOHANNESBURG, 2198
Postal Address	POSTNET SUITE 195, PRIVATE BAG X1, EDENGLEN, 1613
Current Tel Number	0115240038
Cell number	0795270706
Shareholding/Membership	50%

Principal's Adverse - No information on record

Business Information for NADIA RASOOL

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
SPICE IMPORTERS AND MILLERS CC	B2001/035286/23	In Business	11 Years 11 Months	0	No
SPICE ME UP CC	B2010/095854/23	In Business	2 Years 10 Months	0	No

Principal's Deeds Information - No information on record

FOREIGN EXCHANGE RATES

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
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	SPICE IMPORTERS AND MILLERS CC
Trading as/ Division Name	SPICE IMPORTERS AND MILLERS
Previous Name	SPICE AND HERB IMPORTERS
Date of Name Change	Feb 26 2013 12:00AM
Registration Number	B2001/035286/23
Registration Date	2001/05/30
Date Commenced Trading	2001-05-30
Age of Business	11 Years 11 Months
History of Business	The subject was established as a new business in 2001 and operations commenced immediately. It underwent a name change in February 2013.
History of Principals	There are 2 active members within the business.
Shareholders/Members/Partners of subject and % holding	50 % -WENKE LASCH, 50%-NADIA RASOOL
Authorised Share Capital	R0.00
Issued Share Capital/Members Contribution	R0.00
Status	In Business
Operations Assessment	The subject manufactures and wholesales spices.
Industry/ Customers	All major food retailers and retail outlets.
Major Industry Code / SICC	30499
Definition of Code	Manufacture of spices condiments vinegar yeast & other food products NEC
Head Office Physical Address	NO 11 BETSCHANA ROAD, SEBENZA, EDENVALE, 1610
Head Office Postal Address	POSTNET SUITE 195, PRIVATE BAG X1, EDENGLEN, 1613
Current Tel Number	0116091562
Current Fax Number	0116091564
Current Email Address	wencke@spiceimporters.co.za