MIRA INFORM REPORT

Report Date :

25.02.2013

IDENTIFICATION DETAILS

Name :	ERNEST H JOHNSON (PTY) LTD

Registered Office :	258 Brunei Road, Tulisa Park, Johannesburg, 2197

Country :	South Africa

Date of Incorporation :	20.02.2003

Com. Reg. No.:	M2003/004010/07

Legal Form :	Private Company

Line of Business :	Supply of Mining Equipment

No. of Employees :	50-90 employees

RATING & COMMENTS

MIRA’s Rating :

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 30^th, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

South Africa

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 Unemployment remains high and outdated infrastructure has constrained growth.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	ERNEST H JOHNSON (PTY) LTD
Country	South Africa
Subject Contact Person	MAGGIE - CREDITORS DEPARTMENT
Assessment	This is a well-established business. On investigation contact was made with MAGGIE within the creditors department of the concern who assisted with the information. The concern is meeting its commitments timeously with it's suppliers. The respondent declined to provide the banking details and company structure information as the identity of the Principal enquirer was requested. The subject is unable to provide the full financials for the business as the financials are deemed confidential. Please see the available information obtained below.

Auditors information

Company Registered Name	KAROLIA JEENA INCORPORATED
Trading Name	KAROLIA JEENA
Registration Number	2000/007138/21
Physical Address	NSI House, 2nd Floor, 8A Keyes Avenue, ROSEBANK
Postal Address	PRIVATE BAG X2677, SAXONWOLD, 2132
Contact Person	K. JEENA
Contact Number	0115373700
Email	karjeena@iafrica.com
Principals	3
Judgements Against Subject	No information found on file
Judgements Against Principals	No information found on file
Subject Verified as Client	Yes
Practice Number	920037e
VAT Number	4830188605
No of years in Business	2
Website	www.kji.co.za

Previous Auditors

Company Name	Phone Number	Time with previous auditors	Comment
AAALHERBE LOURENS		Unknown
BDO SPENCER STEWARD (JHB)INC		Unknown
BDO SOUTH AFRICA INC		2

Tax Information

Vat Number	4780207843
Status	ACTIVE
Vat Liable Date	2003/06/01
Tax Number	9545287154
Financial Year End	June
Black Economic Empowerment
Status	No
Comment	The subject has applied for a BEE certification.
ISO Status
Comment	Some of the products imported are ISO Certified. Further information was not made available.
Workman's compensation
Registered	Yes
Compliance Certified	Yes

Company Structure

Subsidiaries Information - No Information on Record

Employees
Number of Employees	50-90
Comment	The staff breakdown was not made available
Company Fleet
Company Fleet	No of vehicles:	Owned/Leased	Value	Outstanding Balance
Fleet Operations
The Fleet is made up of
Comment	Further details were not made available
Trucks

Offices Information - No Information on Record

Branch Information - No Information on Record

Management Overview

Organisation Chart

Level	Position	Name	Comment

1	Director	RAMESH MORAR

1	Director	JUNED PAHAD

Company Structure Information - No Information on Record

Note: One level up and all levels down

Key Deals - No Information on Record

Trade References

Trade Reference nr	Supplier	Contact	Surety Value	Notarial Bonds	Comment
1	PC ROWFAST	0832686014
2	TRANSVAAL GALVANIZERS	0118141113
3	VRN STEEL	0113068000

Trade References Detail

Nr	Age of Acc	Credit Limit	Max Credit	Terms	Average Purchases	Terms Taken	Comment
1	12 YEARS		R1000000	30 DAYS	R 30 DAYS	1000000	THE COMPANY ENJOYS A 2.5% SETTLEMENT DISCOUNT, EXCELLENT ACCOUNT. NO CREDIT LIMIT HAS BEEN SET IN PLACE.
2	10 YEARS		R100000	30 DAYS	R 50000	30 DAYS	THE COMPANY ENJOYS A 5% SETTLEMENT DISCOUNT, GOOD ACCOUNT. THE SUBJECT DOES NOT HAVE A CREDIT LIMIT.
3	7 YEARS	R 50000.00	R15000	30 DAYS	R12000	30 DAYS	THIS IS A GOOD ACCOUNT. THE COMPANY ENJOYS A 2.5% SETTLEMENT DISCOUNT.

Adverse Information on Subject

Judgements - No information on record

BusinessRescue - 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

Financial information

Financial Estimates

Current Turnover per annum

R 500000.00

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

Principals

Number of Principals	2
Average Age of Active Principals	66
Active Principals Principal - 1of 2 RAMESH MORAR
Surname	MORAR
First Name	RAMESH
Other Names	DAYA
Marital Status	Married
ID Number	4610215062052
Verified ID Number	Yes
Current Age	66
Designation	ACCOUNTANT
Status	Active
Appointment Date	2003/02/20
Physical Address (at time of Appointment)	58 NORTH AVENUE, BEZUIDENHOUT VALLEY, 2094
Postal Address	P 0 BOX 7536, JHB, 2000
Current Tel Number	0116138711
Cell number	0723989569
Shareholding/Membership	0.0000

Principal's Adverse - No information on record

Business Information for RAMESH MORAR

Principal Current Business Interests

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

ERNEST H

JOHNSON (PTY)LTD

M2003/004010/07

In Business

9 Years 9 Months

HARDI CROP PROTECTION SA (PTY) LTD

M2003/004510/07

In Business

9 Years 9 Months

Principal Previous Business Interests

Average Age of Previous Business 17 Years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
JAYMIN PROPERTIES CC	B1987/009834/23	Deregistration Final	25 Years 1 Months	0	No
AIRMODE CC	B1994/002630/23	Deregistration Final	18 Years 6 Months	0	No
BARRY'S HOLDINGS CC	B1994/002633/23	Deregistration Final	18 Years 6 Months	0	No
RDM RADIATOR SERVICES CC	B1997/053077/23	In Business	15 Years 3 Months	0	No
SNOWY OWL PROPERTIES 271 (PTY) LTD	M2003/004544/07	Deregistration Final	9 Years 9 Months	0	No

Principal's Deeds Information - No information on record

Principal - 2of 2 JUNED PAHAD

Surname	PAHAD
First Name	JUNED
Other Names	None
Marital Status	Divorced
ID Number	4502285075082
Verified ID Number	Yes
Current Age	67
Designation	MANAGER
Status	Active
Appointment Date	2003/02/20
Physical Address (at time of Appointment)	41 4TH AVENUE, MAYFAIR, 2092
Postal Address	P 0 BOX 42106, FORDSBURG, 2033
Current Tel Number	0116138711
Cell number	0825768401
Shareholding/Membership	0.0000

Business Information forJUNED PAHAD

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
MASJID-ASH-SHIFA A	M1999/024245/08	In Business	13 Years 1 Months	0	No
ERNEST H JOHNSON (PTY)LTD	M2003/004010/07	In Business	9 Years 9 Months	0	No
HARDI CROP PROTECTION SA (PTY) LTD	M2003/004510/07	In Business	9 Years 9 Months	0	No

Principal Previous Business Interests

Average Age of Previous Business 19 Years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
JILANI STORES CC	B1986/006926/23	Deregistration Final	26 Years 2 Months	0	No
Z AND F INVESTMENTS CC	B1987/009369/23	Deregistration Final	25 Years 1 Months	0	No
F AND Y COTTAGE BAKERY CC	B1992/033718/23	In Business	20 Years 8 Months	0	No
AIRMODE CC	B1994/002630/23	Deregistration Final	18 Years 6 Months	0	No
BARRY'S HOLDINGS CC	B1994/002633/23	Deregistration Final	18 Years 6 Months	0	No
SNOWY OWL PROPERTIES 271 (PTY) LTD	M2003/004544/07	Deregistration Final	9 Years 9 Months	0	No

Principal's Deeds Information - No information on record

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.43
UK Pound	1	Rs.83.20
Euro	1	Rs.71.91

INFORMATION DETAILS

Report Prepared by :

MNL

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.

Registered Name	ERNEST H JOHNSON (PTY)LTD
Trading as/ Division Name	None
Previous Name	None
Date of Name Change	None
Registration Number	M2003/004010/07
Registration Date	2003/02/20
Date Commenced Trading	2003-02-20
Age of Business	9 Years 6 Months
History of Business	ERNEST H JOHNSON (PTY)LTD was initially established in 1921, no further details with regards to name changes or conversions were made available.
History of Principals	There are two active directors within the business
Shareholders/Members/Partners of subject and % holding	Unavailable
Authorised Share Capital	R1000.00
Issued Share Capital/Members Contribution	R 100.00
Status	In Business
Operations Assessment	The company is involved in the importing and exporting of tractor spares and mining equipment as well as the manufacture of railway fasteners for South African Railways (PROMAT)
Industry/ Customers	Transport and Mining Sector
Major Industry Code / SICC	85291
Definition of Code	SUPPLY OF MINING EQUIPMENT
Head Office Physical Address	258 Brunei Road, Tulisa Park, Johannesburg, 2197
Head Office Postal Address	PO Box 7536, Johannesburg, 2000
Current Tel Number	0116138711 / 8
Cell Number	0723989569
Current Fax Number	0116231855
Current Email Address	ehjohn@mweb.co.za
Web Site Address	www.steeltrade.co.za / ehjohnson
Comments	The address below was the auditors previous address : 30 JELLICOE AVENUE, TAARIQ CRESCENT, ROSEBANK, 2196