|
Report Date : |
07.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
BLUE SANDS TRADING 144 CC |
|
|
|
|
Registered Office : |
Fayer Place, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
30.03.2004 |
|
|
|
|
Com. Reg. No.: |
B2004/029614/23 |
|
|
|
|
Legal Form : |
Closed Corporation |
|
|
|
|
Line of Business : |
Manufacture of cutlery,
hand tools and general hardware |
|
|
|
|
No. of Employees : |
150 |
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 : |
No Complaints |
|
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 - 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 and a stock exchange that is the 15th largest in
the world. Even though the country possesses modern infrastructure that support
a relatively efficient distribution of goods to major urban centers throughout
the region, some components retard growth. The economy began to slow in the
second half of 2007 due to an electricity crisis. 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. Subsequently, the global financial crisis
reduced commodity prices and world demand. GDP fell nearly 2% in 2009 but has
recovered since then. Unemployment, poverty, and inequality remain a challenge,
with official unemployment at nearly 25% of the work force. State power
supplier Eskom has built two new power stations and installed new power demand
management programs to improve power grid reliability. South Africa's economic
policy has focused on controlling inflation, however, the country has had
significant budget deficits that restrict its ability to deal with pressing
economic problems. The current government faces 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 |
BLUE
SANDS TRADING 144 CC |
|
Country |
South
Africa |
|
Subject Contact
Person |
COOKIE
MULRAJH - Financial Manager |
|
Assessment |
This is
an established business. On investigation contact was made with MRS. COOKIE
MULRAJH who assisted with most of the required information, The financial
information was however declined due to it being confidential. The subject is
meeting commitments timeously with suppliers. We obtained a bank code C for R
500 OOOover a period of 30 Days. Please see the available information
obtained below. |
|
Registered
Name |
BLUE
SANDS TRADING 144 CC |
|
Trading
as/ Division Name |
BLUE
SANDS TRADING 144 |
|
Previous
Name |
None |
|
Date of
Name Change |
None |
|
Registration
Number |
B2004/029614/23 |
|
Registration
Date |
2004/03/30 |
|
Date
Commenced Trading |
2004-03-30 |
|
Age of
Business |
9 Years
5 Months |
|
History
of Business |
BLUE
SANDS TRADING 144 CC commenced trading as a new business in 2004. |
|
History
of Principals |
There
are 4 active members within the company |
|
Shareholders/Members/Partners
of subject and % holding |
20 % -
MUZZAMMIL HAQ, 20 % - SHABBIR AHMED, 30 % -NIZAM AKOO, 30 % - MAHOMED AKOO |
|
Authorised
Share Capital |
R0.00 |
|
Issued
Share Capital/Members Contribution |
R0.00 |
|
Status |
In
Business |
|
Operations
Assessment |
The subject
manufactures steel window frames. |
|
Industry/
Customers |
The
construction industry |
|
Export |
Unknown |
|
Import |
Unknown |
|
Major
Industry Code / SICC |
35530 |
|
Definition
of Code |
Manufacture
of cutlery, hand tools and general hardware |
|
Head
Office Physical Address |
Fayer
Place, Isipingo Road, DURBAN |
|
Head
Office Postal Address |
P O BOX
26430, ISIPINGO BEACH, 4110 |
|
Current
Tel Number |
03190217591 |
|
Cell
Number |
Unavailable |
|
Current
Fax Number |
0319021842 |
|
Current Email
Address |
|
|
Web Site
Address |
Unavailable |
|
Company
Registered Name |
MALHERBE
LOURENS INC |
|
Trading
Name |
MALHERBELOURENS |
|
Registration
Number |
M2005/021605/21 |
|
Physical
Address |
6 Kikuyu
Road, Sunninghill Park, SANDTON, 2199 |
|
Postal
Address |
PO Box
457, Rivonia, SANDTON, 2128 |
|
Contact
Person |
Unavailable |
|
Contact
Number |
0118071974 |
|
Email |
Unavailable |
|
Principals |
1 |
|
Judgements
Against Subject |
None On
Record |
|
Judgements
Against Principals |
None On
Record |
|
Subject
Verified as Client |
No |
|
Practice
Number |
955361 |
|
VAT
Number |
4710172497 |
|
Tax
Number |
9302006169 |
|
BEE
Status |
Unavailable |
|
Financial
Year End |
June |
|
No of
years in Business |
8 Years
2 Months |
|
Website |
|
|
Comment |
|
Previous
Auditors Information - No Information on Record
|
Vat
Number |
4910215237 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
2004/09/01 |
|
Tax
Number |
9410516158 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
February |
|
Comment |
|
Black Economic
Empowerment Information - No Information on Record
ISO
Information - No Information on Record
Workman's
compensation
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
|
Comment |
|
Subsidiaries
|
Subsidiary
Company |
There
are no reported subsidiaries |
|||
|
Shareholding |
|
|||
|
Registration
Number |
|
|||
|
Import /
Export |
|
|||
|
Comment |
|
|||
|
Employees |
||||
|
Number
of Employees |
150 |
|||
|
1.
Salaried employees |
150 |
|||
|
2. Waged
employees |
|
|||
|
3. Permanent
employees |
150 |
|||
|
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 |
|
|||
|
Cars |
2 |
Owned |
|
|
|
Light
delivery Vehicles |
1 |
Owned |
|
|
|
Trucks |
1 |
Owned |
|
|
|
Offices |
Offices |
|
|
Head
Office Owned/ Rented |
Owned |
|
|
Rental Company |
BLUE
SANDS TRADING 144 CC |
|
|
Owned by |
|
|
|
Value |
|
|
|
Bond |
|
|
|
Bank |
|
|
|
Lease
Agreement |
|
|
|
Lease
Expire Date |
|
|
|
Type of
Premises |
3
FACTORIES AND OFFICE BLOCK |
|
|
Comment |
|
|
|
Branch
Information |
||
|
Branches
Names |
Country |
Province |
|
BLUE
SANDS TRDING 144 CC |
South
Africa |
Pretoria |
|
Branch
Detail Information |
||
|
Branches
Owned/ Rented |
Leased |
|
|
Rental
Company |
K KARRIM |
|
|
Owned by |
N/A |
|
|
Value |
|
|
|
Bond |
|
|
|
Bank |
|
|
|
Lease
Agreement |
Unavailable |
|
|
Lease
Expire Date |
Unavailable |
|
|
Type of
Premises |
Factory |
|
|
Comment |
|
|
Organisation
Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
Member |
MAHOMED
AKOO |
|
|
|
|||
|
1 |
Member |
NIZAM
AKOO |
|
|
|
|||
|
1 |
Member |
SHABBIR
AHMED |
|
|
|
|||
|
1 |
Member |
MUZZAMMIL
HAQ |
|
Company
Structure (Ownership)
Note: One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
30 % - MAHOMED AKOO |
BLUE
SANDS TRADING 144 CC |
|
|
|
30% - NIZAM AKOO |
BLUE
SANDS TRADING 144 CC |
|
|
|
20 % - SHABBIR AHMED |
BLUE
SANDS TRADING 144 CC |
|
|
|
20 % - MUZZAMMIL HAQ |
BLUE
SANDS TRADING 144 CC |
|
|
Key Deals
- No Information on Record
|
Trade
Reference nr |
Supplier |
Contact |
Surety
Value |
Notarial
Bonds |
Comment |
|
1 |
ARCELOR
MITTAL |
0168892361 |
|
|
|
|
2 |
ANCHOR
PAINTS AND CHEMICAL |
0314590592 |
|
|
|
|
3 |
DALTRANS |
0125742310 |
|
|
|
Trade References
Detail
|
Nr |
Age of
Acc |
Credit
Limit |
Max
Credit |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
|
1 |
4 Years |
R
4500000.00 |
|
60 Days |
R 500000 |
60 Days |
Excellent
account. The maximum value of goods purchased was not made available. |
|
2 |
7 Years |
R
260000.00 |
|
30 Days |
R120000 |
30 Days |
Very
Good account. The maximum value of goods purchased was not made available. |
|
3 |
3 Years |
|
R 240000 |
30 Days |
R150000 |
30 Days |
Good
account. The subject does not have a credit limit. |
Judgements - No Information on Record
BusinessRescue
- No Information on Record
Default
Listing - No Information on Record
Notarial Bonds - No Information on Record
|
Bank |
ABSA |
|
Branch |
DURBAN
CITY |
|
Brach
Code |
632005 |
|
Bank
Account Number |
4060182650 |
|
Type of
Account |
CURRENT |
|
Account
Name |
BLUE
SANDS TRADING 144 CC |
|
Overdraft
Facilities |
None |
|
Bank
Code |
C - For
R 500 000 |
|
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
- No information on record
|
Number
of Principals |
4 |
|
Average
Age of Active Principals |
44 |
|
Active
Principals Principal - 1of 4 MUZZAMMIL HAQ |
|
|
Surname |
HAQ |
|
First
Name |
MUZZAMMIL |
|
Other
Names |
None |
|
Marital Status |
|
|
ID
Number |
7504165175088 |
|
Verified
ID Number |
Yes |
|
Current
Age |
38 Years
4 Months |
|
Designation |
Member |
|
Status |
Active |
|
Appointment
Date |
2004/05/24 |
|
Physical
Address (at time of Appointment) |
2 GELDERHAND
ROAD, DURBAN NORTH, 4051 |
|
Postal
Address |
P 0 BOX
74325, ROCHDALE, 4034 |
|
Current
Tel Number |
0319027591 |
|
Cell
number |
0835786007 |
|
Shareholding/Membership |
20% |
Business Information
forMUZZAMMIL HAQ Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
M NE
INVESTMENTS CC |
B1995/022302/23 |
In
Business |
18 Years
6 Months |
0 |
No |
|
Principal
Previous Business Interest
Principal's
Deeds Information - No information on record
Average
Age of Previous Business 11
Years
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
ADVIDATA
TRADING 625 CC |
B2002/072213/23 |
Deregistration
Final |
11 Years
11 Months |
0 |
No |
|
|
Principal
- 2of 4 MAHOMED AKOO |
|
|
Surname |
AKOO |
|
First
Name |
MAHOMED |
|
Other
Names |
None |
|
Marital
Status |
|
|
ID
Number |
6808205183056 |
|
Verified
ID Number |
Yes |
|
Current
Age |
45 Years |
|
Designation |
Member |
|
Status |
Active |
|
Appointment
Date |
2004/05/24 |
|
Physical
Address (at time of Appointment) |
5A
TRANSPORT ROAD, PROSTECTION, DURBAN, 4115 |
|
Postal
Address |
PO BOX 70552,
OVERPORT, 4067 |
|
Current
Tel Number |
0319027591 |
|
Cell
number |
0825786055 |
|
Shareholding/Membership |
30% |
Business
Information forMAHOMED AKOO Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
AKSTEEL
INVESTMENTS CC |
B2000/039589/23 |
In
Business |
13 Years
1 Months |
2 |
No |
|
|
CASIMIR
INVESTMENT (PTY) LTD |
M2002/014531/07 |
In
Business |
11 Years
11 Months |
0 |
No |
|
|
DELTA BLUE
TRADING 551 CC |
B2006/067761/23 |
In
Business |
7 Years
7 Months |
0 |
No |
|
|
ON
SUCCESS TRADING CC |
B2011/035088/23 |
In
Business |
2 Years
2 Months |
0 |
No |
|
|
OSMAN"S
RAINWATER SYSTEMS CC |
B1994/040425/23 |
In
Business |
19 Years
7 Months |
0 |
No |
|
|
OSMANS
IMPORT AND EXPORT CC |
B1994/038807/23 |
In
Business |
19 Years
7 Months |
0 |
No |
|
|
STEELCITY
MERCHANTS (PTY) LTD |
M2006/011984/07 |
In
Business |
7 Years
7 Months |
0 |
No |
|
|
STEELCITY
PIPES AND TUBES (PTY) LTD |
M2006/021321/07 |
In
Business |
7 Years
7 Months |
0 |
No |
|
|
WESTBOUND
INVESTMENTS CC |
B2005/012060/23 |
In
Business |
8 Years
8 Months |
0 |
No |
|
|
WOODSPOINT
INVESTMENTS CC |
B1999/033673/23 |
In
Business |
14 Years
2 Months |
0 |
No |
|
Principal's
Deeds Information - No information on record
Principal
Previous Business Interest
Average
Age of Previous Business 19
Years
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
OSMAN'S TIMBER
AND HARDWARE CC |
B1990/003021/23 |
Deregistration
Final |
23 Years
11 Months |
0 |
No |
|
|
THABA
"NCHU STEEL CC |
B1998/064297/23 |
Deregistration
Final |
15 Years
3 Months |
0 |
No |
|
Principal
- 3of 4 NIZAM AKOO
|
Surname |
AKOO |
|
First
Name |
NIZAM |
|
Other
Names |
NONE |
|
Marital
Status |
|
|
ID
Number |
7105145123089 |
|
Verified
ID Number |
Yes |
|
Current
Age |
42 Years
3 Months |
|
Designation |
Member |
|
Status |
Active |
|
Appointment
Date |
2004/05/24 |
|
Physical
Address (at time of Appointment) |
UNIT 4,
270 CURRIE ROAD, BEREA, KWA-ZULU NATAL, 4001 |
|
Postal
Address |
P O BOX
26430, ISIPINGO BEACH, KWA-ZULU NATAL, 4115 |
|
Current
Tel Number |
0319027591 |
|
Cell
number |
Unavailable |
|
Shareholding/Membership |
30% |
Business
Information forNIZAM AKOO
Principal
Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
249-255 MONTPELIER
ROAD (PTY) LTD |
K2012/219160/07 |
In Business |
1 Years
1 Months |
0 |
No |
|
|
AKSTEEL
INVESTMENTS CC |
B2000/039589/23 |
In
Business |
13 Years
1 Months |
2 |
No |
|
|
CASIMIR
INVESTMENT (PTY) LTD |
M2002/014531/07 |
In
Business |
11 Years
11 Months |
0 |
No |
|
|
DELTA BLUE
TRADING 551 CC |
B2006/067761/23 |
In
Business |
7 Years
7 Months |
0 |
No |
|
|
ON
SUCCESS TRADING CC |
B2011/035088/23 |
In
Business |
2 Years
2 Months |
0 |
No |
|
|
OSMAN"S
RAINWATER SYSTEMS CC |
B1994/040425/23 |
In
Business |
19 Years
7 Months |
0 |
No |
|
|
OSMANS
IMPORT AND EXPORT CC |
B1994/038807/23 |
In
Business |
19 Years
7 Months |
0 |
No |
|
|
SAZUKA
INVESTMENTS (PTY) LTD |
M2000/024678/07 |
In
Business |
13 Years
1 Months |
0 |
No |
|
|
STEELCITY
MERCHANTS (PTY) LTD |
M2006/011984/07 |
In Business |
7 Years
7 Months |
0 |
No |
|
|
STEELCITY
PIPES AND TUBES (PTY) LTD |
M2006/021321/07 |
In
Business |
7 Years
7 Months |
0 |
No |
|
|
WESTBOUND
INVESTMENTS CC |
B2005/012060/23 |
In
Business |
8 Years
8 Months |
0 |
No |
|
|
WOODSPOINT
INVESTMENTS CC |
B1999/033673/23 |
In
Business |
14 Years
2 Months |
0 |
No |
|
Principal's
Deeds Information - No information on record
Principal
Previous Business Interests
Average
Age of Previous Business 23
Years
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
OSMAN'S
TIMBER AND HARDWARE CC |
B1990/003021/23 |
Deregistration
Final |
23 Years
11 Months |
0 |
No |
|
Principal
- 4of 4 SHABBIR BALLIM AHMED
|
Surname |
AHMED |
|
First
Name |
SHABBIR
BALLIM |
|
Other
Names |
EBRAHIM |
|
Marital
Status |
|
|
ID
Number |
6203245065085 |
|
Verified
ID Number |
Yes |
|
Current
Age |
51 Years
5 Months |
|
Designation |
Member |
|
Status |
Active |
|
Appointment
Date |
2004/05/24 |
|
Physical
Address (at time of Appointment) |
PLOT 53,
FIROLAZ, LEEUFONTEIN, 1020 |
|
Postal
Address |
P 0 BOX
1710, BRONKHORSTSPRUIT, 1020 |
|
Current
Tel Number |
0312083175 |
|
Cell
number |
0837868776 |
|
Shareholding/Membership |
20% |
Business Information
forSHABBIR BALLIM AHMED Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
ZONE-2
IMPORTERS EXPORTERS AND DISTRIBUTORS CC |
B1995/024105/23 |
Deregistration
Process |
18 Years
6 Months |
0 |
No |
|
Principal's
Deeds Information - No information on record
Principal Previous
Business Interests
Average
Age of Previous Business
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
|
|
|
|
|
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.53 |
|
|
1 |
Rs.94.37 |
|
Euro |
1 |
Rs.81.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.