MIRA INFORM REPORT

Report Date :

07.08.2013

IDENTIFICATION DETAILS

Name :	FRENCH ENGINEERING WORKS (PTY)LTD

Registered Office :	73 Tenth Road, Kew, Johannesburg, 2090

Country :	South Africa

Date of Incorporation :	18.10.1954

Com. Reg. No.:	M1954/002739/07

Legal Form :	Private Company

Line of Business :	Manufacture of cutlery, hand tools and general hardware

No. of Employees :	Not Available

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 :	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, 31^st,2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

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 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	FRENCH ENGINEERING WORKS (PTY)LTD
Country	South Africa
Subject Contact Person	LOUISE YOUNG - Financial Manager
Assessment	This is an established business. On investigation contact was made with MRS. LOUISE YOUNG the financial manager who declined to assist with any information regarding the subject. She requested the name of the principal enquirer before she may divulge any information on the subject. Please see the available information on the subject below.

Auditors Information

Company Registered Name	RANSOME RUSSOUS
Trading Name	Unavailable
Registration Number	Unavailable
Physical Address	Unavailable
Postal Address	P 0 BOX 84040, GREENSIDE, 2034
Contact Person	Unavailable
Contact Number	Unavailable
Email	Unavailable
Principals
Judgements Against Subject	Unavailable
Judgements Against Principals	Unavailable
Subject Verified as Client	No
Practice Number	953717
VAT Number	Unavailable
Tax Number	Unavailable
BEE Status	Unavailable
Financial Year End	Unavailable
No of years in Business	19 Years 11 Months
Website	Unavailable
Comment

Previous Auditors Information - No Information on Record

Tax Information

Vat Number	4360103107
Status	ACTIVE
Vat Liable Date	1991/09/30
Tax Number	9223009847
Tax Clearance Expire Date
Financial Year End	June
Comment

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

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

Adverse Information on Subject

BusinessRescue - No Information on Record

Judgements - No information on record

Default Listing - No information on record

Notarial Bonds - No information on record

Principals

Number of Principals	5
Average Age of Active Principals	65
Active Principals Principal - 1of 5 HENRY GORRELL
Surname	GORRELL
First Name	HENRY
Other Names	TILTON
Marital Status
ID Number	4910180000000
Verified ID Number	No
Current Age	63 Years 10 Months
Designation	Director
Status	Active
Appointment Date	2001/10/01
Physical Address (at time of Appointment)	16547 CROSS ANDRA LANE, SPRINGHILL, FLORIDA, USA, OOOO
Postal Address	P 0 BOX 158, BRAMLEY, 2018
Current Tel Number	0113865200
Cell number	Unavailable
Shareholding/Membership	0.00

Business Information forHENRY GORRELL Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
FRENCH ENGINEERING WORKS (PTY)LTD	M1954/002739/07	In Business	59 Years 11 Months	0	No
WHAT CHEER INVESTMENTS (PTY) LTD	M1972/004909/07	In Business	41 Years 5 Months	0	No

Business Information forJACK MOSER

Principal Current Business Interests

Principal - 2of 5 JACK MOSER
Surname	MOSER
First Name	JACK
Other Names	None
Marital Status
ID Number	5208055193084
Verified ID Number	Yes
Current Age	61 Years
Designation	Director
Status	Active
Appointment Date	1985/03/01
Physical Address (at time of Appointment)	16 CHESHAM ROAD, BRYANSTON, 2021
Postal Address	P 0 BOX 158, BRAMLEY, 2000
Current Tel Number	0113865200
Cell number	0828944680
Shareholding/Membership	0.00

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
FRENCH ENGINEERING WORKS (PTY)LTD	M1954/002739/07	In Business	59 Years 11 Months	0	No
WHAT CHEER INVESTMENTS (PTY) LTD	M1972/004909/07	In Business	41 Years 5 Months	0	No

Principal Previous Business Interest

Average Age of Previous Business

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment

Principal - 3of 5 PHILIPPE MOSER
Surname	MOSER
First Name	PHILIPPE
Other Names	None
Marital Status
ID Number	5206055126104
Verified ID Number	Yes
Current Age	61 Years 2 Months
Designation	Director
Status	Active
Appointment Date	1985/03/01
Physical Address (at time of Appointment)	18 JEANINE STREET, BASSONIA, JOHANNESBURG, 2000
Postal Address	P 0 BOX 158, BRAMLEY, 2018
Current Tel Number	0116823574
Cell number	0827934317
Shareholding/Membership	0.00

Business Information forPHILIPPE MOSER Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
FRENCH ENGINEERING WORKS (PTY)LTD	M1954/002739/07	In Business	59 Years 11 Months	0	No
WHAT CHEER INVESTMENTS (PTY) LTD	M1972/004909/07	In Business	41 Years 5 Months	0	No

Principal Previous Business Interest

Principal's Deeds Information - No information on record

Average Age of Previous Business 8 Years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
PHIL MOSER ENTERPRISES CC	B2005/015320/23	Deregistration Final	8 Years 8 Months	0	No

Principal - 4of 5 DAVID ALDRIDGE
Surname	ALDRIDGE
First Name	DAVID
Other Names	None
Marital Status
ID Number	5812175172082
Verified ID Number	Yes
Current Age	54 Years 8 Months
Designation	Director
Status	Active
Appointment Date	1985/03/01
Physical Address (at time of Appointment)	38 MONT SERRAT, DENISE STREET, MORNINGSIDE, 2196
Postal Address	P 0 BOX 158, BRAMLEY, 2090
Current Tel Number	0331434671
Cell number	0823435200
Shareholding/Membership	0.00

Business Information forDAVID ALDRIDGE Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
FRENCH ENGINEERING WORKS (PTY)LTD	M1954/002739/07	In Business	59 Years 11 Months	0	No
KEW ACTION GROUP	M2006/039229/08	In Business	7 Years 7 Months	0	No

Principal Previous Business Interest

Average Age of Previous Business 21 Years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
CHEQUERED FLAG INVESTMENTS CC	B1992/003717/23	Deregistration Final	21 Years 9 Months	0	No

Principal - 5of 5 J MOSER
Surname	MOSER
First Name	J
Other Names	None
Marital Status
ID Number	2601205024006
Verified ID Number	Yes
Current Age	87 Years 7 Months
Designation	Director
Status	Active
Appointment Date	1956/05/18
Physical Address (at time of Appointment)	11 DORRIES DRIVE, FROGGIE POND, SIMONSTOWN, 7975
Postal Address	P 0 BOX 158, BRAMLEY, 2018
Current Tel Number	0113865200
Cell number	Unavailable
Shareholding/Membership	0.00

Business Information forJ MOSER

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
FRENCH ENGINEERING WORKS (PTY)LTD	M1954/002739/07	In Business	59 Years 11 Months	0	No

Principal's Deeds Information - No information on record

Principal Previous Business Interest

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
UK Pound	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%)

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	FRENCH ENGINEERING WORKS (PTY)LTD
Trading as/ Division Name	FRENCH ENGINEERING WORKS
Previous Name	None
Date of Name Change	None
Registration Number	M1954/002739/07
Registration Date	1954/10/18
Date Commenced Trading	1954-10-18
Age of Business	58 Years 10 Months
History of Business	FRENCH ENGINEERING WORKS (PTY)LTD commenced trading as a new business in 1954.
History of Principals	There are currently 5 active directors within the company.
Shareholders/Members/Partners of subject and % holding	Unavailable
Authorised Share Capital	R0.00
Issued Share Capital/Members Contribution	R0.00
Status	In Business
Operations Assessment	The subject manufactures and distributes precision tools. Taps, Dies, Drills, Cutters, Toolbits and Allied Lines
Industry/ Customers	The metal industry
Export	Yes
Import	Yes
Major Industry Code / SICC	35530
Definition of Code	Manufacture of cutlery, hand tools and general hardware
Head Office Physical Address	73 TENTH ROAD, KEW, JOHANNESBURG, 2090
Head Office Postal Address	P O BOX 158, BRAMLEY, GAUTENG, 2018
Current Tel Number	0113865200
Cell Number	Unavailable
Current Fax Number	0118870273
Current Email Address	info@few.co.za / lyoung@few.co.za
Web Site Address	www.few.co.za