MIRA INFORM REPORT

 

 

Report Date :

07.08.2013

 

IDENTIFICATION DETAILS

 

Name :

SAMBO GRANITE CC

 

 

Registered Office :

3 Reen Avenue, Athlone Industria 1 - The Showroom Address : Shop 7a Ground Floor, Nobel Park, Bellville

 

 

Country :

South Africa

 

 

Date of Incorporation :

10.10.2005

 

 

Com. Reg. No.:

B2005/145068/23

 

 

Legal Form :

Close Corporation

 

 

Line of Business :

The company is involved in the manufacture of custom designed granite and quartz counter-tops as well as tombstones.

 

 

No. of Employees :

Not Available

 

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

Summary

 

Subject Name

SAMBO GRANITE CC

Country

SOUTH AFRICA

Account Review

Recommended Every 3 Months

Subject Contact Person

SALAMA ORGILL - Sales

Assessment

On investigation contact was made with SALAMA ORGILL. The business has been operating for 7 Years 10 Months. No adverse information was revealed during the investigation. A payment profile and financial estimates were not made available as the spokesperson requested that an email be forwarded. To date no response has been received. Further investigations will be instituted when the outstanding information is received. Please see the information obtained below.

 

 

Company Information

 

Registered Name

SAMBO GRANITE CC

Trading as/ Division Name

None

Previous Name

None

Date of Name Change

None

Registration Number

B2005/145068/23

Registration Date

2005/10/10

Date Commenced Trading

2005-10-10

Age of Business

7 Years 10 Months

History of Business

SAMBO GRANITE CC was registered in October 2005 and operations commenced immediately.

History of Principals

There is one active member within the business

Shareholders/Members/Partners of subject and % holding

100 % - NAZLEYA SAMBO

Authorised Share Capital

R 0.00

Issued Share Capital/Members Contribution

R 0.00

Status

In Business

Operations Assessment

The company is involved in the manufacture of custom designed granite and quartz counter-tops as well as tombstones.

Industry/ Customers

Interior design and decor.

Export

None

Export Countries

 

Import

Yes

Import Countries

Brazil,China,India

Major Industry Code / SICC

61399

Definition of Code

Wholesale trade in other household goods n.e.c

Head Office Physical Address

3 REEN AVENUE, ATHLONE INDUSTRIA 1 - THE SHOWROOM ADDRESS : SHOP 7A GROUND FLOOR, NOBEL PARK, BELLVILLE

Head Office Postal Address

PO BOX 31208, GRASSY PARK, 7888

Current Tel Number

0216380531

Cell Number

0823070932

Current Fax Number

0216337432

Current Email Address

nazleya@sambogranite.co.za

Web Site Address

www.sambogranite.co.za

Comments

 

 

 

Auditors Information

 

Company Registered Name

STATUCOR PTY LTD

Trading Name

None

Registration Number

1989/005394/07

Physical Address

2ND FLOOR, BLOCK D, THE BOULEVARD OFFICE PARK, SEARLE STREET, WOODSTOCK, 7925

Postal Address

PO BOX 3883, CAPE TOWN, 8000

Contact Person

ALUN RICH

Contact Number

0214606300

Email

amber@statucor.co.za

Principals

1

Judgements Against Subject

No information found on file

Judgements Against Principals

No information found on file

Subject Verified as Client

Yes

Practice Number

95302

VAT Number

4800177125

Tax Number

Undisclosed

BEE Status

Level 2

Financial Year End

February

No of years in Business

Unknown

Website

www.statucor.co.za

Comment

 

 

Previous Auditors Information - No Information on Record

 

 

Tax Information

 

Vat Number

4500231081

Status

ACTIVE

Vat Liable Date

2005/10/06

Tax Number

9031145171

Tax Clearance Expire Date

 

Financial Year End

February

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

 

Organisation Chart

 

Level

Position

Name

Comment

 

1                                  I        Managing Member I        NAZLEYA

 

Company Structure (Ownership)

 

Note: One level up and all levels down

 

Holding

Company

Sub

Comment

100 % - NAZLEYA SAMBO

SAMBO GRANITE CC

 

 

 

Key Deals - No Information on Record

 

Trade References Information - No Information on Record

 

Adverse Information on Subject

Judgements

 

Judgements

None

Possible Judgements

None

Civil Court

0

RDs

0

Comment

No Information on Record

 

Business Rescue

 

Date registered

Business rescue practitioner

Contact Information

Details

Comment

 

THERE IS NO INFORMATION FOUND ON FILE

No Information on Record

No Information on Record

No Information on Record

 

Default Listings

 

Date

Details

Comment

 

THERE IS NO INFORMATION FOUND ON FILE

No Information on Record

Notarial Bonds

Date

Details

Comment

 

THERE IS NO INFORMATION FOUND ON FILE

No Information on Record

 

Bank Information

 

Bank

FIRST NATIONAL BANK

Branch

CAPE TOWN

Brach Code

250655

Bank Account Number

62098407490

Type of Account

CHEQUE ACCOUNT

Account Name

SAMBO GRANITE CC

Overdraft Facilities

Undisclosed

Bank Code

C - For R100 000 over 30 days

Bank Comment

Good for the amount quoted, if strictly in the way of business.

 

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

1

Average Age of Active Principals

34

Active Principals

Principal - 1of 1 NAZLEYA SAMBO

Surname

SAMBO

First Name

NAZLEYA

Other Names

None

Marital Status

 

ID Number

7905200151085

Verified ID Number

Yes

Current Age

34 Years 3 Months

Designation

Managing Member

Status

Active

Appointment Date

2005/10/10

Physical Address (at time of Appointment)

120 FIFTH AVENUE, GRASSY PARK, 7941

Postal Address

PO BOX 31208, GRASSY PARK, 7888

Current Tel Number

0216380531

Cell number

0823070932

Shareholding/Membership

100 %

 

Principal's Adverse - No information on record

 

Business Information forNAZLEYA SAMBO Principal Current Business Interests

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

SAMBO GRANITE CC

B2005/145068/23

In Business

8 Years 8 Months

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.61.53

UK Pound

1

Rs.94.37

Euro

1

Rs.81.58

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.