|
Report Date : |
05.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUZLON
WIND ENERGY SOUTH AFRICA (PTY)LTD |
|
|
|
|
Formerly Known As : |
UNITED
FIRE TRADING 36 (PTY)LTD |
|
|
|
|
Registered Office : |
10
BRADFORD ROAD, BEDFORDVIEW, Gauteng, 2007 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
31.08.2010 |
|
|
|
|
Com. Reg. No.: |
M2010/017784/07 |
|
|
|
|
Legal Form : |
Private
Company |
|
|
|
|
Line of Business : |
Engineering
and Construction of wind farms |
|
|
|
|
No. of Employees : |
9 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 Unemployment remains high and outdated infrastructure has constrained growth.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 |
SUZLON
WIND ENERGY SOUTH AFRICA (PTY)LTD |
|
Country |
South
Africa |
|
Subject
Contact Person |
PADMINI
MOODLEY - FINANCIAL MANAGER |
|
Assessment |
This
is an established business. On investigation contact was made with the
financial manager MRS. PADMINI MOODLEY who assisted with most of the
information on the subject. MRS. MOODLEY declined to assist with banking and
financial information due to it being confidential. Regarding the trade referrences only 1
supplier assisted with a trade reference and the remainder were declined. The
subject does not have any further suppliers. Please see the available
information on the subject below. |
|
Registered
Name |
SUZLON
WIND ENERGY SOUTH AFRICA (PTY)LTD |
|
Previous
Name |
UNITED
FIRE TRADING 36 (PTY)LTD |
|
Date
of Name Change |
2011-08-13 |
|
Registration
Number |
M2010/017784/07 |
|
Registration
Date |
2010/08/31 |
|
Date
Commenced Trading |
2010-08-31 |
|
Age
of Business |
2
Years 5 Months |
|
History
of Business |
The
subject was established as a new business in 2010 and underwent a name change
in 2011 from UNITED FIRE TRADING 36 (PTY) LTD to SUZLON WIND ENERGY SOUTH
AFRICA (PTY) LTD. |
|
History
of Principals |
There
are currently 4 active directors within the company. |
|
Shareholders/Members/Partners
of subject and % holding |
80
% - AERH, 20 % - BUSINESS VENTURE INVESTMENT HOLDING |
|
Authorised
Share Capital |
R1000.00 |
|
Issued
Share Capital/Members Contribution |
R
100.00 |
|
Status |
In
Business |
|
Operations
Assessment |
Engineering
and Construction of wind farms |
|
Industry/
Customers |
Energy
efficient businesses, Farms |
|
Export |
None |
|
Import |
None |
|
Major
Industry Code / SICC |
50230 |
|
Definition
of Code |
Construction
of other structures |
|
Head
Office Physical Address |
10
BRADFORD ROAD, BEDFORDVIEW, Gauteng, 2007 |
|
Head
Office Postal Address |
P
0 BOX 751210, GARDENVIEW, Gauteng, 2047 |
|
Current
Tel Number |
0117847768 |
|
Current
Fax Number |
0117846373 |
|
Current
Email Address |
|
|
Web
Site Address |
|
|
Comments |
|
|
Company Registered Name |
ERNST AND YOUNG INC |
|
Registration Number |
2005/002308/21 |
|
Physical Address |
52 Corlett Drive, ILLOVO, Johannesburg, 2116 |
|
Postal Address |
Private BagX14, NORTHLANDS, 2116 |
|
Contact Person |
COBEN MOODLEY |
|
Contact Number |
0117723000 |
|
Email |
|
|
Principals |
76 |
|
Subject Verified as Client |
Yes |
|
Practice Number |
918288E |
|
VAT Number |
4280230949 |
|
Tax Number |
9414606153 |
|
Financial Year End |
June |
|
No of years in Business |
2 |
|
Website |
Previous
Auditors
|
Company
Name |
Phone
Number |
Time
with previous auditors |
Comment |
|
BOOKE
INCORPORATED |
|
2 |
|
|
DOUGLAS
DIX - PEEK & CO |
|
Unknown |
|
|
Vat Number |
4270257829 |
|
Status |
ACTIVE |
|
Vat Liable
Date |
2011/01/03 |
|
Tax Number |
9718521157 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
March |
|
Comment |
|
|
Black
Economic Empowerment |
|
|
Status |
Yes |
|
Score |
4.00 |
|
Expire
Date |
Oct 1 2013 |
|
BEE
Certificate Available |
|
|
Comment |
|
|
|
|
|
ISO
Information - No Information on Record |
|
|
Workman's
compensation |
|
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
|
Comment |
|
Subsidiaries
Information - No Information on Record
|
Employees |
|
|
Number
of Employees |
9 |
|
1.
Salaried employees |
9 |
|
2.
Waged employees |
|
|
3.
Permanent employees |
9 |
|
4.
Casual employees |
|
|
5.
Contracted employees |
|
|
Comment |
|
Company
Fleet Information - No Information on Record
|
Offices |
Offices |
|
Head
Office Owned/ Rented |
Leased |
|
Rental
Company |
RMS
PROPERTIES |
|
Owned
by |
|
|
Value |
|
|
Bond |
|
|
Bank |
|
|
Lease
Agreement |
3
Years |
|
Lease
Expire Date |
|
|
Type
of Premises |
Offices |
|
Comment |
|
Branch
Information - No Information on Record
Organisational
Chart - No Information on Record
Company
Structure (Ownership)
Note:
One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
80
%
- AERH |
SUZLON
WIND ENERGY SOUTH AFRICA (PTY) LTD |
|
|
|
20
%
- BUSINESS
VENTURE INVESTMENT HOLDINGS |
SUZLON
WIND ENERGY SOUTH AFRICA (PTY) LTD |
|
|
Key
Deals - No Information on Record
|
Trade
Reference nr |
Supplier |
Contact |
Surety
Value |
Notarial
Bonds |
Comment |
|
1 |
BOGE
INC |
0114799000 |
|
|
|
|
2 |
KRONICA
MINOLTA |
0126810000 |
|
|
|
|
3 |
Talent
Africa |
0117714800 |
|
|
|
|
4 |
BOND
STATIONERY |
0118884292 |
|
|
|
|
5 |
EMPA
STRUCTURE |
0219791129 |
|
|
|
Trade
References Detail
|
Nr |
Age
of Acc |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
|
1 |
|
|
|
|
Supplier
declined to assist with a trade referrence |
|
2 |
|
|
|
|
Supplier
declined to assist with a trade referrence. |
|
3 |
|
|
|
|
Supplier
declined to assist with a trade referrence |
|
4 |
2
Years |
30
Days |
R
30000 |
30
Days |
Good
account, The subject does not have a credit limit with the supplier. |
|
5 |
|
|
|
|
The
supplier declined to assist with a trade referrence. |
|
Number
of Principals |
4 |
|
Average
Age of Active Principals |
53 |
|
Active
Principals Principal - 1of 4 KIRTIKANT VAGADIA |
|
|
Surname |
VAGADIA |
|
First
Name |
KIRTIKANT |
|
Other
Names |
None |
|
Marital
Status |
|
|
ID
Number |
6503120000000 |
|
Verified
ID Number |
No |
|
Current
Age |
48 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment
Date |
2012/04/01 |
|
Physical
Address (at time of Appointment) |
D-302
KALPATARU REGENCY 11, KALYANI NAGAR, PUNE, INDIA 411006, 0000 |
|
Postal
Address |
SUZLON
ENERGY LTD, OPP MAGARPATTA MAIN GATE, HADAPSAR PUNE, INDIA 411006, 0000 |
|
Current
Tel Number |
0117847768 |
|
Cell
number |
|
|
Shareholding/Membership |
0.0000 |
Business
Information forKIRTIKANT VAGADIA Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
SUZLON
WIND ENERGY SOUTH AFRICA (PTY)LTD |
M2010/017784/07 |
In
Business |
3
Years 3 Months |
0 |
No |
|
Principal Previous Business Interests
Principal's
Deeds Information - No information on record
Average
Age of Previous Business
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
|
|
|
|
|
|
|
|
Principal
- 2of 4 SILAS MZINGELI ZIMU |
|
|
Surname |
ZIMU |
|
First
Name |
SILAS
MZINGELI |
|
Other
Names |
None |
|
Marital
Status |
Married |
|
ID
Number |
6704015374086 |
|
Verified
ID Number |
Yes |
|
Current
Age |
46 |
|
Designation |
PUBLIC
OFFICER |
|
Status |
Active |
|
Appointment
Date |
2010/11/01 |
|
Physical
Address (at time of Appointment) |
36
CNR TESLA CLOSE & TESLA CRESCENT, SUNNINGHILL, 2157 |
|
Postal
Address |
P
0 BOX 2009, GALLO MANOR, 2052 |
|
Current
Tel Number |
0117112338 |
|
Cell
number |
0828880556 |
|
Shareholding/Membership |
0.0000 |
Business
Information forSILAS MZINGELI ZIMU Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
ZIMU
TELECOMS CC |
B2005/152416/23 |
In
Business |
8
Years 8 Months |
0 |
No |
|
|
VALOZONE
262 CC |
B2011/097562/23 |
In
Business |
2
Years 2 Months |
0 |
No |
|
|
POWER-C
METERING AFRICA (PTY) LTD |
K2011/104093/07 |
In
Business |
2
Years 2 Months |
0 |
No |
|
|
BUSINESS
VENTURE INVESTMENTS NO 1564 RF (PTY)LTD |
K2011/110947/07 |
In
Business |
2
Years 2 Months |
0 |
No |
|
|
SOUTH
AFRICAN NATIONAL ENERGY ASSOCIATION |
M2001/019721/08 |
In
Business |
0 |
0 |
No |
|
|
CENTLEC
(PTY)LTD |
M2003/011612/07 |
In
Business |
10
Years 10 Months |
0 |
No |
|
|
CAPE
GATE MAREPHA (PTY)LTD |
M2005/011737/07 |
In
Business |
8
Years 8 Months |
0 |
No |
|
|
SUZLON
WIND ENERGY SOUTH AFRICA (PTY)LTD |
M2010/017784/07 |
In
Business |
3
Years 3 Months |
0 |
No |
|
|
AMPERE
CONSULTING (PTY) LTD |
M2011/004779/07 |
In
Business |
2
Years 2 Months |
0 |
No |
|
|
REAKABE
CONSTRUCTION (PTY) LTD |
M2011/006541/07 |
In
Business |
2
Years 2 Months |
0 |
No |
|
Principal
Previous Business Intere
Average
Age of Previous Business 9
Years
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
SIMERCIA
INVESTMENTS CC |
2007/036113/23 |
Deregistration
Final |
6
Years 6 Months |
0 |
No |
|
|
BOTLHALE-THEMBA
PROJECTS CC |
B2004/113039/23 |
Deregistration
Final |
9
Years 9 Months |
0 |
No |
|
|
GMZ
CONSTRUCTION AND PROJECTS CC |
B2007/221082/23 |
Deregistration
Final |
6
Years 6 Months |
0 |
No |
|
|
CITY
POWER JOHANNESBURG (PTY) LTD |
M2000/030051/07 |
In
Business |
13
Years 1 Months |
3 |
No |
|
|
CITY
POWER JOHANNESBURG |
M2000/030051/30 |
In
Business |
13
Years 1 Months |
0 |
No |
|
|
TSWELOPELE
MINERAL AND ENERGY HOLDINGS (PTY)LTD |
M2002/013701/07 |
|
11
Years 11 Months |
0 |
No |
|
|
TITANTRADE
305 (PTY) LTD |
M2002/017420/07 |
Deregistration
Final |
11
Years 11 Months |
0 |
No |
|
|
IMVELO
PETROLEUM (PTY) LTD |
M2003/011422/07 |
Deregistration
Final |
10
Years 10 Months |
0 |
No |
|
|
UMKHOMA
MINERALS AND PROJECTS (PTY) LTD |
M2005/039948/07 |
Deregistration
Final |
8
Years 8 Months |
0 |
No |
|
|
INGAMA
INVESMENT HOLDINGS (PTY)LTD |
M2006/017211/07 |
Deregistration
Final |
7
Years 7 Months |
0 |
No |
|
Principal's
Deeds Information - No information on record
|
Principal
- 3of 4 FRANS HUBERT JAN VISSCHER |
|
|
Surname |
VISSCHER |
|
First
Name |
FRANS
HILBERT JAN |
|
Other
Names |
None |
|
Marital
Status |
|
|
ID
Number |
5306240000000 |
|
Verified
ID Number |
No |
|
Current
Age |
60 |
|
Designation |
BUSINESSMAN |
|
Status |
Active |
|
Appointment
Date |
2010/10/11 |
|
Physical
Address (at time of Appointment) |
KLOOSTERLAAN
10, 1861 SE BERGEN NH, THE
NETHERLANDS, 0000 |
|
Postal
Address |
SUZLON
ENERGY B.V.WTC TOWER C, 154TH FLOOR STRAWINSKYLAAN, 1541 1077 XX AMSTERDAM,
THE NETHERLANDS, 0000 |
|
Current
Tel Number |
0117847768 |
|
Cell
number |
|
|
Shareholding/Membership |
0.0000 |
Business Information forFRANS HUBERT JAN VISSCHER Principal Current
Business Interests
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
SUZLON
WIND ENERGY SOUTH AFRICA (PTY)LTD |
M2010/017784/07 |
In
Business |
3
Years 3 Months |
0 |
No |
|
Principal
Previous Business Interests
Principal's
Deeds Information - No information on record
Average
Age of Previous Business
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
|
|
|
|
|
|
|
|
Principal
- 4of 4 ROBIN BANERJEE |
|
|
Surname |
BANERJEE |
|
First
Name |
ROBIN |
|
Other
Names |
None |
|
Marital
Status |
|
|
ID
Number |
5508200000000 |
|
Verified
ID Number |
No |
|
Current
Age |
58 |
|
Designation |
BUSINESSMAN |
|
Status |
Active |
|
Appointment
Date |
2010/10/11 |
|
Physical
Address (at time of Appointment) |
KATAU
BUNGALOW 3RD FLOOR, 6 MANAV MANDIR ROAD, MALBAR HILLS MUMBAI, 40006 INDIA,
0000 |
|
Postal
Address |
SUZLON
ENERGY LTD ONE EARTH, OPP.MAGARPATTA CITY, HADAPSAR PUNE-411, 0028 INDIA,
0000 |
|
Current
Tel Number |
0117847768 |
|
Cell
number |
|
|
Shareholding/Membership |
0.0000 |
Business
Information forROBIN BANERJEE Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
SUZLON
WIND ENERGY SOUTH AFRICA (PTY)LTD |
M2010/017784/07 |
In
Business |
3
Years 3 Months |
0 |
No |
|
Principal Previous
Business Interests
Principal's
Deeds Information - No information on record
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.52.97 |
|
|
1 |
Rs.83.17 |
|
Euro |
1 |
Rs.72.20 |
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.