|
Report Date : |
07.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
NATAL IRON AND BRASS
FOUNDRY CC |
|
|
|
|
Registered Office : |
5 Hayworth Road,
Mkondeni, Pietermaritzburg, 3201 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
17.08.1987 |
|
|
|
|
Com. Reg. No.: |
B1987/018590/23 |
|
|
|
|
Legal Form : |
Closed Corporation |
|
|
|
|
Line of Business : |
The subject operates as
an importer, exporter and manufacturer of cast iron products such as Manhole covers
and frames; Stormwater gratings and frames, Valves, Meter, Stopcock and
Hydrant Boxes |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Undetermined |
|
|
|
|
Payment Behaviour : |
-- |
|
|
|
|
Litigation : |
-- |
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 |
NATAL
IRON AND BRASS FOUNDRY CC |
|
Country |
South
Africa |
|
Subject
Contact Person |
SHAIESTHA
- Administrator |
|
Assessment |
This is a
well-established family business. On investigation contact was made with
SHAIESTHA the administrator of the business who informed us that contact was
made the subject's supplier. As such the subject is not interested in any
business transactions if a credit check has to be conducted on NATAL IRON AND
BRASS FOUNDRY CC. Please see the information obtained below. |
|
Registered
Name |
NATAL
IRON AND BRASS FOUNDRY CC |
|
Trading
as/ Division Name |
NIBF |
|
Previous
Name |
None |
|
Date of
Name Change |
None |
|
Registration
Number |
B1987/018590/23 |
|
Registration
Date |
1987/08/17 |
|
Date
Commenced Trading |
1987-08-17 |
|
Age of
Business |
25 Years
10 Months |
|
History
of Business |
NATAL IRON
AND BRASS FOUNDRY CC was registered in August 1987 and operations commenced
immediately. |
|
History
of Principals |
There
are two active members within the business |
|
Shareholders/Members/Partners
of subject and % holding |
50 % -
RISHAL RAJKUMAR, 50 % - SAMALL RAJKUMAR |
|
Authorised
Share Capital |
R0.00 |
|
Issued
Share Capital/Members Contribution |
R 100.00 |
|
Status |
In
Business |
|
Operations
Assessment |
The
company operates as an importer, exporter and manufacturer of cast iron products
such as Manhole covers and frames; Stormwater gratings and frames, Valves,
Meter, Stopcock and Hydrant Boxes |
|
Industry/
Customers |
Construction |
|
Export |
Unknown |
|
Import |
Yes |
|
Import
Countries |
China,
India |
|
Major Industry
Code / SICC |
35310 |
|
Definition
of Code |
Casting
of iron and steel |
|
Head
Office Physical Address |
5
HAYWORTH ROAD, MKONDENI, PIETERMARITZBURG, 3201 |
|
Head
Office Postal Address |
PO BOX
221, LUXMI, PIETERMARITZBURG, 3207 |
|
Current Tel
Number |
0333866573
/ 0333866576 |
|
Cell
Number |
0845966573 |
|
Current
Fax Number |
0333867001 |
|
Current
Email Address |
|
|
Web Site
Address |
|
Company
Registered Name |
PRICE
WATERHOUSECOOPERS INC |
|
Trading
Name |
PWC |
|
Registration
Number |
M1998/012055/21 |
|
Physical
Address |
2 EGLIN
ROAD, SUNNINGHILL, GAUTENG, 2157 |
|
Postal
Address |
PRIVATE
BAG X36, SUNNINGHILL, 2157 |
|
Contact
Person |
LYNN
OELOFSEN |
|
Contact
Number |
0117974000 |
|
Email |
|
|
Principals |
241 |
|
Judgements
Against Subject |
No
information found on file |
|
Judgements
Against Principals |
No
information found on file |
|
Subject
Verified as Client |
Yes |
|
Practice
Number |
901091E |
|
VAT
Number |
4950174682 |
|
Tax
Number |
9343032844 |
|
BEE
Status |
Level 2 |
|
Financial
Year End |
June |
|
No of
years in Business |
Undisclosed |
|
Website |
|
|
Comment |
|
Previous Auditors Information
- No Information on Record
|
Vat
Number |
4310105855 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
1991/09/30 |
|
Tax
Number |
9440065218 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
February |
|
Comment |
|
|
Black Economic
Empowerment |
|
|
Status |
Yes |
|
Score |
1.00 |
|
Expire
Date |
|
|
BEE
Certificate Available |
No |
|
Comment |
Level 2
Bee Contributor As Stated On Company Website |
|
ISO Status |
|
|
Type of
ISO Grade |
ISO 9002 |
|
ISO
Certificate |
Yes |
|
ISO Certificate
Available |
No |
|
Certified
by an Accredited Agent |
Yes |
|
Comment |
ISO
CERTIFIED AS PER COMPANY WEBSITE |
|
Workman's
compensation |
|
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
|
Comment |
|
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
Organisation Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
MEMBER |
RISHAL
RAJKUMAR |
|
|
|
|||
|
2 |
MEMBER |
SAMALL
RAJKUMAR |
|
Company Structure
(Ownership)
Note: One level up and all
levels down
|
Holding |
Company |
Sub |
Comment |
|
50 % - RISHAL RAJKUMAR |
NATAL
IRON AND BRASS FOUNDRY CC |
|
|
|
50 % - SAMALL RAJKUMAR |
NATAL
IRON AND BRASS FOUNDRY CC |
|
|
Key Deals - No Information on Record
Trade References
Information - No Information on Record
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 |
No
Information on Record |
No
Information on |
No
Information on |
|
|
|
FOUND ON
FILE |
|
Record |
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 - 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
|
Number
of Principals |
2 |
|
Average
Age of Active Principals |
35 |
|
Active Principals
Principal - 1of 2 RISHAL RAJKUMAR |
|
|
Surname |
RAJKUMAR |
|
First
Name |
RISHAL |
|
Other
Names |
NONE |
|
Marital
Status |
Married |
|
ID
Number |
8210065297050 |
|
Verified
ID Number |
Yes |
|
Current
Age |
30 Years
8 Months |
|
Designation |
MEMBER |
|
Status |
Active |
|
Appointment
Date |
2007/09/21 |
|
Physical
Address (at time of Appointment) |
34
WOODSTOCK ROAD, PIETERMARITZBURG, 3201 |
|
Postal
Address |
P 0 BOX
247, LAXMI, 3207 |
|
Current
Tel Number |
0333866572 |
|
Cell
number |
0849992775 |
|
Shareholding/Membership |
50% |
Principal's Adverse - No
information on record
Business Information
forRISHAL RAJKUMAR Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
CAST
IRON INDUSTRIES CC |
B1998/008011/23 |
In
Business |
15 Years
3 Months |
0 |
No |
|
|
HAYWORTH
ROAD PROPERTIES CC |
B1991/004051/23 |
In
Business |
22 Years
10 Months |
0 |
No |
|
|
LIGHTING
IAAAGE CC |
B1992/006458/23 |
In
Business |
21 Years
9 Months |
0 |
No |
|
|
NATAL
IRON AND BRASS FOUNDRY CC |
B1987/018590/23 |
In
Business |
26 Years
2 Months |
0 |
No |
|
Principal's Previous
Business Interests - No information on record
Principal's Deeds Information
- No information on record
|
Principal
- 2of 2 SAMALL RAJKUMAR |
|
|
Surname |
RAJKUMAR |
|
First
Name |
SAMALL |
|
Other
Names |
NONE |
|
Marital
Status |
Married |
|
ID
Number |
7302015102083 |
|
Verified
ID Number |
Yes |
|
Current
Age |
40 Years
4 Months |
|
Designation |
MEMBER |
|
Status |
Active |
|
Appointment
Date |
2007/09/21 |
|
Physical
Address (at time of Appointment) |
27
WOODSTOCK ROAD, MOUNTAIN RISE, PIETERMARITZBURG, 3201 |
|
Postal
Address |
P O BOX
247, LAXMI, 3207 |
|
Current
Tel Number |
0333866573 |
|
Cell
number |
0780192690 |
|
Shareholding/Membership |
50% |
Principal's Adverse - No
information on record
Business Information
forSAMALL RAJKUMAR Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
CAST
IRON INDUSTRIES CC |
B1998/008011/23 |
In
Business |
15 Years
3 Months |
0 |
No |
|
|
HAYWORTH
ROAD PROPERTIES CC |
B1991/004051/23 |
In
Business |
22 Years
10 Months |
0 |
No |
|
|
LIGHTING
IAAAGE CC |
B1992/006458/23 |
In
Business |
21 Years
9 Months |
0 |
No |
|
|
NATAL
IRON AND BRASS FOUNDRY CC |
B1987/018590/23 |
In
Business |
26 Years
2 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.61.67 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.84.25 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.