MIRA INFORM REPORT

Report Date :

28.01.2013

IDENTIFICATION DETAILS

Name :	M AND S COLORCHEM CC

Registered Office :	60 TAUNTON WAY, SOMERSET PARK, 4021

Country :	South Africa

Date of Incorporation :	12.02.2009

Com. Reg. No.:	B2009/027631/23

Legal Form :	Closed Corporation

Line of Business :	Manufacture of other chemical products n.e.c.

No. of Employees :	4

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 Unemployment remains high and outdated infrastructure has constrained growth.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	M AND S COLORCHEM CC
Country	South Africa
Subject Contact Person	MR. B SUKDEO - Member
Assessment	This is an established business. On investigation contact was made with the member of the subject, MR. B SUKDEO who assisted with the information. The subject has been in operation for 3 Years 11 Months. The subject is meeting its commitments timeously with it's suppliers. A bank code C was obtained for an enquiry amount of R 50 000 over 30 days. No adverse information was revealed during the investigation. Please see the information obtained below.

Auditors Information

Company Registered Name	CAP CHARTERED ACCOUNTANTS INC
Trading Name	CAP CHARTERED ACCOUNTANT
Registration Number	M2003/011525/21
Physical Address	6TH FLOOR, OFFICE BLOCK 1, THE CLIFFS, TYGERVALLEY, WATERFRONT
Postal Address	P 0 BOX 5526,TYGERVALLEY, 7536
Contact Number	0861777227
Email	cap@chartered.co.za
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	901659
VAT Number	4520252364
Tax Number	9032128168
Financial Year End	February
No of years in Business	9 Years 8 Months
Website	www.chartered.co.za

Previous Auditors Information - No Information on Record

Tax Information

Vat Number	4520252364
Status	ACTIVE
Vat Liable Date	2009/02/12
Tax Number	9000509191
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 One BBBEE Contributor
_{ISO Status}
Type of ISO Grade	BASF Chemicals and BASF Coating are ISO 9001 and ISO 14001 certified
ISO Certificate	Yes
ISO Certificate Available	No
Certified by an Accredited Agent	Yes
Comment
Workman's compensation
Registered	Yes
Compliance Certified	Yes
Comment

Company Structure

Subsidiaries

Subsidiary Company	There are no reported industries
Shareholding
Registration Number
Import / Export
Comment
Employees
Number of Employees	4
1. Salaried employees	4
2. Waged employees	0
3. Permanent employees	4
4. Casual employees	0
5. Contracted employees	0
Comment
Company Fleet
Company Fleet	No of vehicles:	Ownerd/Leased	Value	Outstanding Balance
Fleet Operations
The Fleet is made up of
Comment	The number of Light delivery Vehicles are undisclosed
Light delivery Vehicles		Owned

Offices

Offices	Offices
Head Office Owned/ Rented	Leased
Rental Company	Undisclosed
Owned by
Value
Bond
Bank
Lease Agreement	Annual
Lease Expire Date	Undisclosed
Type of Premises	Office
Comment

Branch Information - No Information on Record

Management Overview

Organisation Chart

Level	Position	Name	Comment

1	Member	RABIKISSOON SUKDEO

2	Member	BHARTHI SUKDEO

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
50 % - RABIKISSOON SUKDEO	M AND S COLORCHEM CC
50 % - BHARTHI SUKDEO	M AND S COLORCHEM CC

Key Deals - No Information on Record

Trade References

Trade Reference nr	Supplier	Contact	Surety Value	Notarial Bonds	Comment
1	THUTHUKANI WAREHOUSING & DISTRIBUTION SERVICE (PTY) LTD	0314692992	R0.00	0
2	SYNCRYL CHEMICALS	0319021422	R0.00	0
3	CREST CHEMICALS	0319025505	R0.00	0

Trade References Detail

Nr	Age of Acc	Terms	Average Purchases	Terms Taken	Comment
1	2 YEARS	60 DAYS	R 60000	60 DAYS	Good account - The subject has no credit limit
2	4 YEARS	30 DAYS	R 50000	30 DAYS	Good account
3	3 Years	30 DAYS	R 50000	30 DAYS	Good Account - The subject has no credit limit

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

Bank	FIRST NATIONAL BANK
Branch	SOMERSET PARK
Brach Code	250655
Bank Account Number	62215867617
Type of Account	Cheque Account
Account Name	M AND S COLORCHEM CC
Overdraft Facilities	The subject has an overdraft faciltity secured by personal gaurantee, but is hardly utilized
Bank Code	C - For R 50 000
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

Principals

Number of Principals	2
Average Age of Active Principals	50
Active Principals Principal - 1of 2 RABIKISSOON SUKDEO
Surname	SUKDEO
First Name	RABIKISSOON
Other Names	None
Marital Status
ID Number	6208145120088
Verified ID Number	Yes
Current Age	51
Designation
Status	Active
Appointment Date	2009/02/12
Physical Address (at time of Appointment)	P 0 BOX 3284, SOMERSET PARK, 4021
Postal Address	60 TAUNTON WAY, SOMERSE PARK, 4021
Current Tel Number	0315620393
Cell number	0729179665
Shareholding/Membership	50.0000

Principal's Adverse - No information on record

Business Information forRABIKISSOON SUKDEO Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
SUKDEO TECHNICAL SOLUTIONS CC	B2008/104099/23	In Business	5 Years 5 Months	0	No
MAND S COLORCHEM CC	B2009/027631/23	In Business	4 Years 4 Months	0	No

Previous Business Interests

Average Age of Previous Business 8 Years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
PHUMELELA CONSULTING CC	B2005/060507/23	Deregistration Final	8 Years 8 Months	0	No

Principal - 2of 2 BHARTHISUKDEO
Surname	SUKDEO
First Name	BHARTHI
Other Names	None
Marital Status
ID Number	6301090153087
Verified ID Number	Yes
Current Age	50
Designation
Status	Active
Appointment Date	2009/02/12
Physical Address (at time of Appointment)	60 TAUNTON WAY, SOMERSET PARK, 4021
Postal Address	P 0 BOX 3284, SOMERSET PARK, 4021
Current Tel Number	0315059866
Cell number	0824844709
Shareholding/Membership	50.0000

Business Information forBHARTHI SUKDEO Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
MAND S COLORCHEM CC	B2009/027631/23	In Business	4 Years 4 Months	0	No

Principal's Deeds Information - No information on record

Principal Previous Business

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.53.85
UK Pound	1	Rs.85.25
Euro	1	Rs.71.72

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%)

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	M AND S COLORCHEM CC
Trading as/ Division Name	M AND S COLORCHEM
Previous Name	Undisclosed
Date of Name Change	Jul 2 2009
Registration Number	B2009/027631/23
Registration Date	2009/02/12
Age of Business	3 Years 11 Months
History of Business	M AND S COLORCHEM CC was registered in February 2009 and underwent a name change to the current name July 2009.
History of Principals	There are currently 2 active members of the subject
Shareholders/Members/Partners of subject and % holding	50 % - RABIKISSOON SUKDEO, 50 % - BHARTHI SUKDEO
Authorised Share Capital	R0.00
Issued Share Capital/Members Contribution	R 100.00
Status	In Business
Operations Assessment	The subject operates as a distributor, licensed manufacturer and trademark holder for BASF SOUTH AFRICA specialty chemicals, dyes and pigments
Industry/ Customers	Chemical Sector
Export	None
Major Industry Code / SICC	33599
Definition of Code	Manufacture of other chemical products n.e.c.
Head Office Physical Address	60 TAUNTON WAY, SOMERSET PARK, 4021
Head Office Postal Address	P 0 BOX 3284, SOMERSET PARK, 4021
Current Tel Number	0315396016
Cell Number	0729179665
Current Fax Number	0315396011
Current Email Address	rsukdeo@telkomsa.net / mandscolorchem@telkomsa.net
Web Site Address	www.colorchem.co.za