|
Report Date : |
01.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
MULTISTAR INTERNATIONAL CC |
|
|
|
|
Registered Office : |
14 Bonanza Street, Johannesburg, 2001 |
|
|
|
|
Country : |
South Africa |
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|
|
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Date of Incorporation : |
23.02.1995 |
|
|
|
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Com. Reg. No.: |
B1995/007190/23 |
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|
|
|
Legal Form : |
Closed Corporation |
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|
|
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Line of Business : |
Subject operates as an importer and exporter of goods Heavey duty electrical
cables are imported from India. |
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|
|
|
No. of Employees : |
16 employees |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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; 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 Unemployment remains high and outdated infrastructure has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 |
MULTISTAR INTERNATIONAL CC |
|
Country |
South Africa |
|
Subject Contact Person |
FERNANDO-SALES DIRECTOR |
|
Assessment |
This is a well-established business. On investigation contact was made with FERNANDO who is the Sales
Director at the concern. The business has been in operation for a number of years A bank code C was obtained for an enquiry amount of R100 000 over 30 days One of the trade references revealed that the concern is meeting its commitment over terms Please see the information obtained below |
|
Registered Name |
MULTISTAR INTERNATIONAL CC |
|
Trading as/ Division Name |
None |
|
Previous Name |
None |
|
Date of Name Change |
None |
|
Registration Number |
B1995/007190/23 |
|
Registration Date |
1995/02/23 |
|
Date Commenced Trading |
February 1995 |
|
Age of Business |
17 Years 9 Months |
|
History of
Business |
MULTISTAR
INTERNATIONAL CC was established in 1995 and operations commenced immediately |
|
History of
Principals |
The current
members have been with the concern for a number of years |
|
Shareholders/Members/Partners
of subject and % holding |
RM MOTAN 50%M MOTAN
50% |
|
Authorised Share
Capital |
R0.00 |
|
Issued Share
Capital/Members Contribution |
R0.00 |
|
Status |
In Business |
|
Operations
Assessment |
The concern
operates as an importer and exporter of goods Heavey duty electrical cables are
imported from India A wide variety of baking products and consumables are
exported to neighbouring african countries |
|
Industry/
Customers |
Industrial and
retail sectors |
|
Export |
Yes |
|
Export Countries |
Angola,Malawi |
|
Import |
Yes |
|
Import Countries |
India |
|
Major Industry
Code / SICC |
61901 |
|
Definition of
Code |
GENERAL
WHOLESALE TRADE |
|
Head Office
Physical Address |
14 Bonanza
Street, Johannesburg ,2001 |
|
Head Office
Postal Address |
P 0 BOX 89,
LENASIA, 1820 |
|
Current Tel Number |
011 838 0370/011
8526629 |
|
Cell Number |
083 2977860 |
|
Current Fax
Number |
011 8380374 |
|
Current Email
Address |
|
|
Web Site Address |
None |
|
Company Registered Name |
MOHAMEDSALIM ISMAIL EBRAHIM |
|
Trading Name |
MOHAMED SALIM EBRAHIM |
|
Registration Number |
SOLE PROPRIETORSHIP |
|
Physical Address |
3 SHRIKE STREET, LENASIA, 1820 |
|
Postal Address |
P O BOX 89, LENASIA, 1820 |
|
Contact Number |
011 8526629 |
|
Principals |
1 |
|
Judgements Against Subject |
No information found on file |
|
Judgements Against Principals |
No information found on file |
|
Practice Number |
No information on file |
|
VAT Number |
None |
|
Tax Number |
None |
|
BEE Status |
Undisclosed |
|
Financial Year End |
Undisclosed |
|
No of years in Business |
15 |
Previous Auditors Information - No Information on Record
|
Vat Number |
4960211193 |
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Status |
ACTIVE |
|
Vat Liable Date |
2004/04/01 |
|
Tax Number |
9408581842 |
|
Financial Year End |
February |
|
Black Economic
Empowerment |
|
|
Status |
Yes |
|
Comment |
No further details were made available |
|
ISO Status |
|
|
Type of ISO Grade |
None |
|
ISO Certificate |
No |
|
ISO Certificate Available |
No |
|
Workman's
compensation |
|
|
Registered |
Yes |
|
Compliance Certified |
Yes |
Subsidiaries
Information - No Information on Record
|
Employees |
||||
|
Number of Employees |
16 |
|||
|
1. Salaried employees |
16 |
|||
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Company Fleet |
||||
|
Company Fleet |
No of vehicles: |
Owned/Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is made up of |
1 |
|||
|
Comment |
The concern also has a courtesy vehicle |
|||
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Light delivery Vehicles |
1 |
Owned |
|
|
|
Offices |
Offices |
|
|
Head Office Owned/ Rented |
Leased |
|
|
Comment |
Office and warehouse |
|
|
Branch Information |
||
|
Branches Names |
Country |
Province |
|
There are no reported branches of the concern |
South Africa |
|
Organisation Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
Managing member |
MOHAMED MOTAN |
|
|
|
|||
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2 |
MAHOMED MOTAN |
mamanging member |
|
Company Structure
Information - No Information on Record
Note: One level up and all levels down
Key Deals - No Information on Record
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
|
1 |
ROHLIG-GRINDROD
[PTY] LTD |
011 4090300 |
R0.00 |
0 |
|
|
2 |
DHL GLOBAL |
011 9237777 |
|
|
|
|
3 |
HYDRAFORM |
011 9131449 |
R0.00 |
0 |
|
Trade References
Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
9 YEARS |
R 200000.00 |
R150000 |
60 DAYS |
R100000 |
60-90 DAYS |
The subject does
take extended terms |
|
2 |
|
|
|
|
|
|
It is against
company policy to provide trade references |
|
3 |
7 years |
R0.00 |
R 200000 |
COD |
R 300000 |
COD |
It is not a
monthly account |
Judgements
|
Judgements |
0 |
|
Possible Judgements |
0 |
|
Civil Court |
0 |
|
RDs |
0 |
|
Comment |
No Information on Record |
Business Rescue
|
Date registered |
Business rescue practitioner |
Contact Information |
Details |
Comment |
|
|
No information on file |
No Information on Record |
No Information
on Record |
No Information on Record |
Default Listings
|
Date |
Details |
Comment |
||
|
|
0 |
No Information on Record |
||
|
Notarial Bonds |
||||
|
Date |
Details |
Comment |
||
|
|
No information on file |
No Information on Record |
||
|
Bank |
ABSA |
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||
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Branch |
632005 |
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||
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Bank Account Number |
4059458468 |
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||
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Type of Account |
Cheque |
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||
|
Account Name |
MULTISTAR INTERNATIONAL CC |
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||
|
Overdraft Facilities |
The subject does not require any overdraft
facility as credit balances are usually maintained at the bank |
|
||
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Bank Code |
C |
|
||
|
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
|
Current Turnover per annum |
R 8000000.00 |
|
Comment |
Further Financial information could not be provided as the relevant
person whom is able to assist, Faizal is out of the country |
|
Please note the following: |
|
|
Turnover and assets less than R
1,000,000.00 |
The subject falls within the National Credit Act |
|
Turnover and assets less than R
2,000,000.00 |
The subject falls within the Consumer Protection Act |
|
Number of Principals |
2 |
|
Average Age of Active Principals |
62 |
Active Principals Principal - 1of 2
MOHAMED MOTAN
|
Surname |
MOTAN |
|
First Name |
MOHAMED |
|
Marital Status |
Married |
|
ID Number |
4905175040084 |
|
Verified ID Number |
Yes |
|
Current Age |
63 |
|
Status |
Active |
|
Appointment Date |
2007/05/16 |
|
Physical Address (at time of Appointment) |
24 PROTEA AVENUE, LENASIA, EXTENSION 3, 1820 |
|
Postal Address |
P O BOX 10287, LENASIA EXTENSION 8, 1820 |
|
Current Tel Number |
0116467856 |
|
Cell number |
0832977860 |
|
Shareholding/Membership |
50.0000 |
Principal's Adverse -
No information on record
Business Information for MOHAMED MOTAN
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
STORM RACING WHEELS CC |
2003/106249/23 |
In Business |
9 Years 9 Months |
0 |
No |
|
|
SILVERTRON 410 CC |
2006/027105/23 |
In Business |
6 Years 6 Months |
0 |
No |
|
|
HLP PROPERTY CC |
B1999/042057/23 |
In Business |
13 Years 1 Months |
0 |
No |
|
|
EURO BLITZ 1001 CC |
B2002/015277/23 |
In Business |
10 Years 10 Months |
0 |
No |
|
|
AUTO TRENDZ WHEEL AND TYRE-RIVONIA CC |
B2003/052203/23 |
In Business |
9 Years 9 Months |
0 |
No |
|
|
VALRADRASH (PTY) LTD |
M1997/013026/07 |
Conversion CO/CC or CC/CO |
15 Years 3 Months |
0 |
No |
|
|
E V R DISTRIBUTORS (PTY) LTD |
M1999/001077/07 |
Conversion CO/CC or CC/CO |
13 Years 1 Months |
0 |
No |
|
|
Al WHEEL AND TYRE (PTY)LTD |
M2000/026606/07 |
Conversion CO/CC or CC/CO |
0 |
0 |
No |
|
Principal Previous Business Interests
Average Age of
Previous Business 19
Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
TRANS OCEAN EXPORTS CC |
B1989/019765/23 |
Deregistration Final |
23 Years 11 Months |
0 |
No |
|
|
NU ENERGY ENTERPRISES CC |
B1992/030310/23 |
Deregistration Final |
20 Years 8 Months |
0 |
No |
|
|
MULTISTAR INTERNATIONAL CC |
B1995/007190/23 |
In Business |
17 Years 5 Months |
0 |
No |
|
|
INTERNATIONAL CAR PRODUCTS (PTY)LTD |
M1984/007308/07 |
Deregistration Final |
28 Years 4 Months |
0 |
No |
|
|
AUTO TRENDZ WHEEL AND TYRE (PTY)LTD |
M2001/016228/07 |
Deregistration Final |
11 Years 11 Months |
0 |
No |
|
Principal's Deeds
Information - No information on record
Principal - 2of 2
Mahomed MOTAN
|
Surname |
MOTAN |
|
First Name |
Mahomed |
|
Other Names |
Ridwan |
|
Marital Status |
Married |
|
ID Number |
5011235039056 |
|
Verified ID Number |
Yes |
|
Current Age |
62 |
|
Status |
Active |
|
Appointment Date |
2007/05/16 |
|
Physical Address (at time of Appointment) |
90 ST BRIDE AVENUE, MAYFAIR WEST, JOHANNESBURG, 2092 |
|
Postal Address |
90 ST BRIDE AVENUE, MAYFAIR WEST, 2092 |
|
Current Tel Number |
0118338094 |
|
Cell number |
0847165175 |
|
Shareholding/Membership |
50.0000 |
Principal's Adverse - No information on record
Business Information
for Mahomed MOTAN
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
STORM RACING WHEELS CC |
2003/106249/23 |
In Business |
9 Years 9 Months |
0 |
No |
|
|
ERF 342 MAYFAIR WEST CC |
B1990/025256/23 |
In Business |
22 Years 10 Months |
0 |
No |
|
|
HLP PROPERTY CC |
B1999/042057/23 |
In Business |
13 Years 1 Months |
0 |
No |
|
|
EURO BLITZ 1001 CC |
B2002/015277/23 |
In Business |
10 Years 10 Months |
0 |
No |
|
|
AUTO TRENDZ WHEEL AND TYRE-RIVONIA CC |
B2003/052203/23 |
In Business |
9 Years 9 Months |
0 |
No |
|
|
BABUS SALAAM MASJID |
M1991/006488/08 |
In Business |
21 Years 9 Months |
0 |
No |
|
|
VALRADRASH (PTY) LTD |
M1997/013026/07 |
Conversion CO/CC or CC/CO |
15 Years 3 Months |
0 |
No |
|
|
E V R DISTRIBUTORS (PTY) LTD |
M1999/001077/07 |
Conversion CO/CC or CC/CO |
13 Years 1 Months |
0 |
No |
|
|
Al WHEEL AND TYRE (PTY)LTD |
M2000/026606/07 |
Conversion CO/CC or CC/CO |
0 |
0 |
No |
|
Principal Previous
Business Interests
Average Age of
Previous Business 16
Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
TRANS OCEAN EXPORTS CC |
B1989/019765/23 |
Deregistration Final |
23 Years 11 Months |
0 |
No |
|
|
NU ENERGY ENTERPRISES CC |
B1992/030310/23 |
Deregistration Final |
20 Years 8 Months |
0 |
No |
|
|
MULTISTAR INTERNATIONAL CC |
B1995/007190/23 |
In Business |
17 Years 5 Months |
0 |
No |
|
|
NU-MUNDO INVESTMENTS CC |
B1996/030845/23 |
In Liquidation |
16 Years 4 Months |
0 |
Yes |
|
|
FULLIMPUT 1254 CC |
B1999/011294/23 |
Deregistration Final |
13 Years 1 Months |
0 |
No |
|
|
AUTO TRENDZ WHEEL AND TYRE (PTY)LTD |
M2001/016228/07 |
Deregistration Final |
11 Years 11 Months |
0 |
No |
|
Principal's Deeds
Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.29 |
|
UK Pound |
1 |
Rs.84.22 |
|
Euro |
1 |
Rs.72.23 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.