|
Report Date : |
31.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
TENNECO
RIDE CONTROL SOUTH AFRICA (PTY)LTD |
|
|
|
|
Formerly Known As : |
ARMSTRONG
HYDRAULICS (PTY)LTD |
|
|
|
|
Registered Office : |
267 -
275 Grahamstown Road, Deal Party, Port Elizabeth, 6012 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
03.11.1960 |
|
|
|
|
Com. Reg. No.: |
M1960/004016/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacture
of automotive accessories |
|
|
|
|
No. of Employees : |
500 |
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 (31.03.2011) |
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 Unemployment remains high and outdated infrastructure has constrained growth.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 |
TENNECO
RIDE CONTROL SOUTH AFRICA (PTY)LTD |
|
Country |
South
Africa |
|
Account
Review |
Recommended
Every 6 Months |
|
Subject
Contact Person |
CHERYL
MULLER - Accounts Payable Supervisor |
|
Assessment |
This is
an established business. On investigation contact was made with the Accounts
Payable Supervisor MRS. CHERYL MULLER who assisted with most of the
information. MRS. MULLER however declined to assist the any financial
information on the subject due to it being confidential. The subject is
meeting commitments timeously with it's suppliers. Please see the available
information on the subject below. |
|
Registered
Name |
TENNECO
RIDE CONTROL SOUTH AFRICA (PTY)LTD |
|
Trading
as/ Division Name |
TENNECO
RIDE CONTROL |
|
Previous
Name |
ARMSTRONG
HYDRAULICS (PTY)LTD |
|
Date of
Name Change |
2011-10-06 |
|
Registration
Number |
M1960/004016/07 |
|
Registration
Date |
1960/11/03 |
|
Date
Commenced Trading |
1960-11-03 |
|
Age of
Business |
52 Years
2 Months |
|
History
of Business |
The
subject was established as a new business in 1960. In 2011 the subject had a
name change however the operations remained the same. |
|
History
of Principals |
There
are currently 3 Active directors within the business. |
|
Shareholders/Members/Partners
of subject and % holding |
100 % -
TENNECO AUTOMOTIVE HOLDINGS SOUTH AFRICA (PTY) LTD |
|
Authorised
Share Capital |
R 0.00 |
|
Issued
Share Capital/Members Contribution |
R 0.00 |
|
Status |
In
Business |
|
Operations
Assessment |
Manufacture
of automotive accessories |
|
Industry/
Customers |
Automotive
Industry |
|
Export |
Yes |
|
Export
Countries |
|
|
Import |
|
|
Import
Countries |
|
|
Major
Industry Code / SICC |
3830 |
|
Definition
of Code |
MANUFACTURE
OF PARTS AND ACCESSORIES FOR MOTOR VEHICLES AND THEIR ENGINES |
|
Head
Office Physical Address |
267 -
275 GRAHAMSTOWN ROAD, DEAL PARTY, PORT ELIZABETH, 6012 |
|
Head
Office Postal Address |
PO BOX
9043, ESTADEAL, PORT ELIZABETH, 6012 |
|
Current
Tel Number |
0414017200 |
|
Cell
Number |
|
|
Current
Fax Number |
0414017380 |
|
Current
Email Address |
|
Company
Registered Name |
PRICE
WATERHOUSECOOPERS |
|
Trading
Name |
PWC |
|
Registration
Number |
1998/012055/21 |
|
Physical
Address |
2 EGLIN
ROAD, SUNNINGHILL, 2157 |
|
Postal
Address |
Private
Bag X36, SUNNINGHILL, 2157 |
|
Contact
Person |
VERA
BOETES |
|
Contact
Number |
0117974000 |
|
Email |
|
|
Principals |
248 |
|
Judgements
Against Subject |
|
|
Judgements
Against Principals |
|
|
Subject
Verified as Client |
Yes |
|
Practice
Number |
905151E |
|
VAT Number |
4950174682 |
|
Tax
Number |
4950174682 |
|
BEE
Status |
|
|
Financial
Year End |
June |
|
No of
years in Business |
Unknown |
|
Website |
|
|
Comment |
|
Previous
Auditors
|
Company
Name |
Phone
Number |
Time
with previous auditors |
Comment |
|
DELOITE
AND TOUCHE |
|
16 |
|
|
ARTHUR
ANDEERSEN AND CO |
|
16 |
|
|
Vat
Number |
4560105688 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
1991/09/30 |
|
Tax
Number |
9875001712 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
December |
|
Comment |
|
|
Black
Economic Empowerment |
|
|
Status |
Yes |
|
Score |
5.00 |
|
Expire
Date |
|
|
BEE
Certificate Available |
No |
|
Comment |
|
|
ISO
Status |
|
|
Type of
ISO Grade |
ISO:140001 |
|
ISO
Certificate |
Yes |
|
ISO
Certificate Available |
|
|
Certified
by an Accredited Agent |
Yes |
|
Comment |
|
|
Workman's
compensation |
|
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
|
Comment |
|
Subsidiaries
Information - No Information on Record
|
Employees |
|
|
Number
of Employees |
500 |
|
1.
Salaried employees |
500 |
|
2. Waged
employees |
|
|
3.
Permanent employees |
500 |
|
4.
Casual employees |
|
|
5.
Contracted employees |
|
|
Comment |
|
Company
Fleet Information - No Information on Record
Offices
|
Offices |
Offices |
|
Head
Office Owned/ Rented |
Leased |
|
Rental
Company |
ARMSTRONG
PROPERTIES (PTY)LTD |
|
Owned by |
|
|
Value |
|
|
Bond |
|
|
Bank |
|
|
Lease
Agreement |
1 Years |
|
Lease
Expire Date |
|
|
Type of
Premises |
Offices
and a Factory |
|
Comment |
|
Branch
Information - No Information on Record
Organisational
Oharn - No Information on Record
Note: One
level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
100 % -
TENNECO AUTOMOTIVE
HOLDINGS SOUTH AFRICA (PTY) LTD |
TENNECO
RIDE CONTROL SOUTH AFRICA (PTY) LTD |
|
|
Key Deals
- No Information on Record
Trade
References
|
Trade
Reference nr |
Supplier |
Contact |
Surety
Value |
Notarial
Bonds |
Comment |
|
1 |
BOSAL |
012391100 |
|
|
|
|
2 |
ALLMAY
TOOLING |
0414513022 |
|
|
|
|
3 |
GKN
SINTEREAL |
0219512311 |
|
|
|
Trade
References Detail
|
Nr |
Age of
Acc |
Credit
Limit |
Max
Credit |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
|
1 |
13 Years |
R
4000000.00 |
R
4000000 |
30 Days |
R
2500000 |
30 Days |
Very
Good Account |
|
2 |
12 Years |
|
R 800000 |
30 Days |
R 500000 |
30 Days |
Good
Account, no credit limit has been set in place. |
|
3 |
10 Years |
|
R1500000 |
30 Days |
R1000000 |
30 Days |
Excellent
Account. No credit limit has been set in place. |
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 |
STANDARD
BANK |
|
Branch |
NEWTON
PARK |
|
Brach
Code |
051001 |
|
Bank
Account Number |
0804050746 |
|
Type of
Account |
Current |
|
Account
Name |
TENNECO
RIDE CONTROL SOUTH AFRICA (PTY) LTD |
|
Overdraft
Facilities |
Yes |
|
Bank
Code |
C for R
4 000 000 |
|
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 |
3 |
|
Average
Age of Active Principals |
47 |
|
Active
Principals Principal - 1of 3 CASEY BEARY |
|
|
Surname |
BEARY |
|
First
Name |
CASEY |
|
Other
Names |
None |
|
ID
Number |
7507215256089 |
|
Verified
ID Number |
Yes |
|
Current
Age |
38 |
|
Designation |
PLANT
MANAGER |
|
Status |
Active |
|
Appointment
Date |
2011/11/01 |
|
Physical
Address (at time of Appointment) |
24B
SIBELIOUS ROAD, WALMER HEIGHTS, PORT ELIZABETH, 6020 |
|
Postal
Address |
PO BOX
9043, ESTADEAL, ESTADEAL, PORT ELIZABETH, 6001 |
|
Current
Tel Number |
0414017400 |
|
Cell
number |
0824112790 |
|
Shareholding/Membership |
0.0000 |
Principal's
Adverse - No information on record
Business
Information forCASEY BEARY
Principal
Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
TENNECO
RIDE CONTROL SOUTH AFRICA (PTY)LTD |
M1960/004016/07 |
In
Business |
53 Years
5 Months |
0 |
No |
|
|
ARMSTRONG
PROPERTIES (PTY)LTD |
M1965/009840/07 |
In
Business |
0 |
0 |
No |
|
|
MONROE MANUFACTURING
(PTY)LTD |
M1998/002502/07 |
|
15 Years
3 Months |
0 |
No |
|
Principal's
Deeds Information - No information on record
|
Principal
- 2of 3 BRENDON BALING |
|
|
Surname |
BALING |
|
First
Name |
BRENDON |
|
Other
Names |
None |
|
Marital
Status |
|
|
ID
Number |
7206135093082 |
|
Verified
ID Number |
Yes |
|
Current
Age |
41 |
|
Status |
Active |
|
Appointment
Date |
2009/08/01 |
|
Physical
Address (at time of Appointment) |
4
QUEENSWALK, SUMMERWOOD PARK, SUMMERSTRAND, PORT ELIZABETH, 6001 |
|
Postal
Address |
PO BOX
9043, ESTADEAL, PORT ELIZABETH, 6001 |
|
Current
Tel Number |
0414017200 |
|
Cell
number |
0833785408 |
|
Shareholding/Membership |
0.0000 |
Principal's
Deeds Information - No information on record
Business
Information forBRENDON BALING
Principal
Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
TENNECO
RIDE CONTROL SOUTH AFRICA (PTY)LTD |
M1960/004016/07 |
In
Business |
53 Years
5 Months |
0 |
No |
|
|
TENNECO
AUTOMOTIVE HOLDINGS SOUTH AFRICA (PTY)LTD |
M1961/900661/07 |
|
52 Years
4 Months |
0 |
No |
|
|
ARMSTRONG
PROPERTIES (PTY)LTD |
M1965/009840/07 |
In
Business |
0 |
0 |
No |
|
|
GILLET
EXHAUST TECHNOLOGIE (PTY)LTD |
M1993/003819/07 |
In
Business |
20 Years
8 Months |
0 |
No |
|
|
TENNECO AUTOMOTIVE
PORT ELIZABETH (PTY)LTD |
M1997/019341/07 |
In
Business |
16 Years
4 Months |
0 |
No |
|
|
MONROE MANUFACTURING
(PTY)LTD |
M1998/002502/07 |
|
15 Years
3 Months |
0 |
No |
|
Principal
Previous Business Interest
Principal's
Adverse - No information on record
Principal
- 3of 3
BRIAN
PASHLEY
|
Surname |
PASHLEY |
|
First
Name |
BRIAN |
|
Other
Names |
None |
|
ID
Number |
5011185091081 |
|
Verified
ID Number |
Yes |
|
Current
Age |
63 |
|
Designation |
SALES
AND MARKETING DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
1990/10/09 |
|
Physical
Address (at time of Appointment) |
39
PROSPECT ROAD, WALMER, PORT ELIZABETH, 6012 |
|
Postal
Address |
P O BOX
9043, ESTADEAL, PORT ELIZABETH, 6012 |
|
Current
Tel Number |
0414017200 |
|
Cell
number |
0834003739 |
|
Shareholding/Membership |
0.0000 |
Business
Information forBRIAN PASHLEY
Principal
Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
TENNECO
RIDE CONTROL SOUTH AFRICA (PTY)LTD |
M1960/004016/07 |
In
Business |
53 Years
5 Months |
0 |
No |
|
|
ARMSTRONG
PROPERTIES (PTY)LTD |
M1965/009840/07 |
In
Business |
0 |
0 |
No |
|
|
MONROE MANUFACTURING
(PTY)LTD |
M1998/002502/07 |
|
15 Years
3 Months |
0 |
No |
|
Principal's
Deeds Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.84.37 |
|
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.