|
Report Date : |
20.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
GASKET MANUFACTURING
CORPORATION (PTY)LTD |
|
|
|
|
Formerly Known As : |
GASKET MANUFACTURING
CORPORATION CC |
|
|
|
|
Registered Office : |
Cnr Bosworth &
Langkloof Road, Alrode South, ALBERTON |
|
|
|
|
Country : |
South Africa |
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Date of Incorporation : |
07.02.1985 |
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Com. Reg. No.: |
B1985/000656/23 |
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|
|
|
Legal Form : |
Private Company |
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|
|
|
Line of Business : |
Manufacture of cutlery,
hand tools and general hardware |
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|
|
|
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 – 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 Unemployment remains high and outdated infrastructure has constrained growth.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 |
GASKET
AAANUFACTURING CORPORATION (PTY)LTD |
|
Country |
South
Africa |
|
Subject
Contact Person |
GAVIN
BROADFOOT - Director |
|
Assessment |
This is
an established business. On investigation contact was made with the director
MR. GAVIN BROADFOOT who declined to assist with any information on the
subject. MR. BROADFOOT requested to know the name of the principal equirer
before he may divulge any information on the subject. Please see the available
information on the subject below. |
|
Registered
Name |
GASKET
MANUFACTURING CORPORATION (PTY)LTD |
|
Trading
as/ Division Name |
GASKET
MANUFACTURING CORPORATION |
|
Previous
Name |
GASKET
MANUFACTURING CORPORATION CC |
|
Registration
Number |
B1985/000656/23 |
|
Registration
Date |
1985/02/07 |
|
Date
Commenced Trading |
1985-02-07 |
|
Age of
Business |
28 Years |
|
History
of Business |
The
subject was established as a new business in 1985 operating as a CC it then
converted to a (PTY)LTD at an undisclosed date. |
|
History
of Principals |
There
are currently two active directors within the business. |
|
Shareholders/Members/Partners
of subject and % holding |
29 % -
ANDRE LOUW MALHERBE, 71 % - GAVIN BROADFOOT |
|
Authorised
Share Capital |
R0.00 |
|
Issued
Share Capital/Members Contribution |
R0.00 |
|
Status |
Conversion
CO/CC or CC/CO |
|
Operations
Assessment |
Manufacture
Of Gaskets |
|
Industry/
Customers |
Automotive
industry and Hardware suppliers |
|
Major
Industry Code / SICC |
3553 |
|
Definition
of Code |
Manufacture
of cutlery, hand tools and general hardware |
|
Head
Office Physical Address |
Cnr
Bosworth & Langkloof Road, Alrode South, ALBERTON |
|
Head
Office Postal Address |
P.O. BOX
166682, BRACKENDOWNS, 1454 |
|
Current
Tel Number |
0118681041 |
|
Current
Fax Number |
0119002711 |
|
Current
Email Address |
|
Company
Registered Name |
LOUBSERAND
CO |
|
Trading
Name |
|
|
Registration
Number |
|
|
Physical
Address |
|
|
Postal
Address |
P 0 BOX
567, HEIDELBERG, 1438 |
|
Contact
Person |
|
|
Contact
Number |
|
|
Email |
|
|
Principals |
|
|
Judgements
Against Subject |
|
|
Judgements
Against Principals |
|
|
Subject
Verified as Client |
|
|
Practice
Number |
|
|
VAT
Number |
|
|
Tax
Number |
|
|
BEE
Status |
|
|
Financial
Year End |
|
|
No of
years in Business |
19 |
|
Website |
|
|
Comment |
|
Previous
Auditors Information - No Information on Record
|
Vat
Number |
4890101001 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
1991/09/30 |
|
Tax
Number |
9060031854 |
|
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
Subsidiaries
Information - No Information on Record
Employees
Information - No Information on Record
Company
Fleet Information - No Information on Record
Offices
Information Branch Information
Organisation
Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
Director |
ANDRE
LOUW MALHERBE |
|
|
|
|||
|
1 |
Director |
GAVIN
BROADFOOT |
|
Company
Structure (Ownership)
Adverse
Information on Subject
Note: One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
29 % -
ANDRE LOUW AAALHERBE |
GASKET
AAANUFACTURING CORPORATION (PTY) LTD |
|
|
|
79 % -
GAVIN BROADFOOT |
GASKET
AAANUFACTURING CORPORATION (PTY) LTD |
|
|
Key Deals - No Information on Record
Trade
References Information - No Information on Record
Judgement
- - No Information on Record
BusinessResure
- No Information on Record
Default
Listing - No Information on Record
Notarial
Bonds - 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 |
49 |
|
Active
Principals Principal - 1of 2 ANDRE LOUW MALHERBE |
|
|
Surname |
MALHERBE |
|
First
Name |
ANDRE
LOUW |
|
Other
Names |
None |
|
Marital
Status |
|
|
ID
Number |
4704145070001 |
|
Verified
ID Number |
No |
|
Current
Age |
Unknown |
|
Designation |
Director |
|
Status |
Active |
|
Appointment
Date |
|
|
Physical
Address (at time of Appointment) |
50 LILY
AVE, DUNVEGAN, 1610 |
|
Postal
Address |
PO BOX
6682, BRACKENDOWNS, 1454 |
|
Current
Tel Number |
0118681041 |
|
Cell
number |
|
|
Shareholding/Membership |
29.0000 |
Business
Information forANDRE LOUW MALHERBE Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
GASKET AAANUFACTURING
CORPORATION CC |
B1985/000656/23 |
Conversion
CO/CC or CC/CO |
28 Years
4 Months |
0 |
No |
|
Principal
Previous Business Interests
Principal's
Deeds Information - No information on record
Average
Age of Previous Business 25
Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
GREEN
VALLEY DAIRY CC |
B1988/000662/23 |
In Business |
25 Years
1 Months |
0 |
No |
|
|
Principal
- 2of 2 GAVIN BROADFOOT |
|
|
Surname |
BROADFOOT |
|
First
Name |
GAVIN |
|
Other
Names |
None |
|
Marital
Status |
Married |
|
ID
Number |
6407265113085 |
|
Verified
ID Number |
Yes |
|
Current
Age |
49 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment
Date |
1994/08/10 |
|
Physical
Address (at time of Appointment) |
11 WAG
"N BIETJIE ROAD, BASSONIA EXT 1, 2061 |
|
Postal
Address |
PO BOX
166682, BRACKEN DOWNS, 1441 |
|
Current
Tel Number |
0116821855 |
|
Cell
number |
0825591454 |
|
Shareholding/Membership |
79 % |
Business
Information forGAVIN BROADFOOT Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
GASKET AAANUFACTURING
CORPORATION CC |
B1985/000656/23 |
Conversion
CO/CC or CC/CO |
28 Years
4 Months |
0 |
No |
|
|
ERF 602
ALRODE (PTY) LTD |
M1973/014476/07 |
In
Business |
40 Years
4 Months |
0 |
No |
|
|
LERECHABETSE
ADVANCED PRODUCTS (PTY) LTD |
M1999/013809/07 |
In
Business |
14 Years
2 Months |
0 |
No |
|
|
GASKET AAANUFACTURING
CORPORATION CAPE (PTY)LTD |
/VI2006/015454/07 |
In
Business |
7 Years
7 Months |
0 |
No |
|
Principal
Previous Business Interests
Principal's
Deeds Information - No information on record
Average
Age of Previous Business 13
Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
GREEN
VALLEY DAIRY CC |
B1988/000662/23 |
In
Business |
25 Years
1 Months |
0 |
No |
|
|
D H P
CONSTRUCTION CC |
B1988/015365/23 |
In
Business |
25 Years
1 Months |
0 |
No |
|
|
NEUTRADE
CC |
B1989/003517/23 |
Deregistration
Final |
|
0 |
No |
|
|
PECANWOOD
31 PROPERTY CC |
B1997/019792/23 |
Deregistration
Final |
16 Years
4 Months |
0 |
No |
|
|
AQUARELLA
INVESTMENTS 51 (PTY) LTD |
M2005/012819/07 |
Deregistration
Final |
8 Years
8 Months |
0 |
No |
|
|
GASKET
AND ALLIED PRODUCTS (PTY)LTD |
M2006/015434/07 |
In
Business |
7 Years
7 Months |
0 |
No |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.72.44 |
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.