MIRA INFORM REPORT

Report Date :

26.07.2013

IDENTIFICATION DETAILS

Name :	STARRATE SOUTHERN AFRICA CC

Registered Office :	68 8th Avenue, Morningside, Durban, Kwazulu Natal, 4001

Country :	South Africa

Date of Incorporation :	24.04.1992

Com. Reg. No.:	B1992/011236/23

Legal Form :	Closed Corporation

Line of Business :	Subject is involved in the supply of sterile and non-sterile primary and secondary packaging products for the medical, veterinary, food and cosmetic industry.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

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 – March 31^st 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

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 and a stock exchange that is the 15th largest in the world. Even though the country possesses modern infrastructure that support a relatively efficient distribution of goods to major urban centers throughout the region, some components retard growth. The economy began to slow in the second half of 2007 due to an electricity crisis. 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. Subsequently, the global financial crisis reduced commodity prices and world demand. GDP fell nearly 2% in 2009 but has recovered since then. Unemployment, poverty, and inequality remain a challenge, with official unemployment at nearly 25% of the work force. State power supplier Eskom has built two new power stations and installed new power demand management programs to improve power grid reliability. South Africa's economic policy has focused on controlling inflation, however, the country has had significant budget deficits that restrict its ability to deal with pressing economic problems. The current government faces 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	STARRATE SOUTHERN AFRICA CC
Country	South Africa
Subject Contact Person	THERESA - Financial Manager
Assessment	This is a well-established family business. On investigation contact was made with THERESA, the Financial Manager at the business. The business has been operating for 21 Years 3 Months. No adverse information was revealed during the investigation. The spokesperson has mentioned that all major suppliers are international and have few local suppliers. Banking details, company structure and financial information was not made available as the identity of the principal was requested to be made known. The contact and fax number provided, 0312666052, is the previous contact number of the company. Please see the information obtained below.

Auditors information

Company Registered Name	ACCUMIN CC
Trading Name	None
Registration Number	1998/051290/23
Physical Address	9 HOMA ROAD, GLENMORE, DURBAN, 4001
Postal Address	9 HOMA ROAD, GLENMORE, DURBAN, 4001
Contact Person	ADELE ACKERMAN
Contact Number	0312618260
Email	info@accumin.co.za
Principals	3
Judgements Against Subject	3
Judgements Against Principals	No information found on file
Subject Verified as Client	Yes
Practice Number	04907611
VAT Number	4040243588
Tax Number	9177202208
BEE Status	None
Financial Year End	February
No of years in Business	3 Years 6 Months
Website	www.accumin.co.za

Previous Auditors Information - No Information on Record

Tax information

Vat Number	4950149411
Status	ACTIVE
Vat Liable Date	1995/05/30
Tax Number	2092511854
Tax Clearance Expire Date
Financial Year End	February
Comment

Black Economic Empowerment Information - No Information on Record

ISO Status

Type of ISO Grade	ISO 9001-2000
ISO Certificate	Yes
ISO Certificate Available	Yes
Certified by an Accredited Agent	Yes

Workman's compensation

Registered	Yes
Compliance Certified	Yes

Company Structure

· Subsidiaries Information - No Information on Record

Employees Information - No Information on Record

Company Fleet Information - No Information on Record

Offices Information - No Information on Record

Branch Information - No Information on Record

Management Overview

Organisation Chart

Level	Position	Name	Comment

1	CEO	RICHARD BIZZELL

2	DIRECTOR	AAASON BIZZELL

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
50 % - AAASON LINDSAY BIZZELL	STARRATE SOUTHERN AFRICA CC
50 % - RICHARD BIZZELL	STARRATE SOUTHERN AFRICA CC

Key Deals - No Information on Record

Trade References

Trade Reference nr	Supplier	Contact	Surety Value	Notarial Bonds	Comment
1	RAM COURIERS	011 9775000
2	STANLEY STATIONERS	031 2668159
3	ACCUMIN	031 2618260

Trade References Detail

Nr	Age of Acc	Credit Limit	Max Credit	Terms	Average Purchases	Terms Taken	Comment
1	NOVEMBER 2009	R10000.00	R10000	30 DAYS	R3000	30 DAYS	EXCELLENT ACCOUNT
2	4 YEARS		R2000	30 DAYS	R 1500	30 DAYS	GOOD ACCOUNT
3	5 YEARS		R4000	30 DAYS	R4000	7 DAYS	EXCELLENT ACCOUNT, NO CREDIT LIMIT

Adverse Information on Subject

· Judgements - No information on record

Business Rescue - 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

Property Interests for Company STARRATE SOUTHERN AFRICA CC

Title Deed No.	T42186/2011	Erf/Site No.
Deeds Office	PIETERMARITZBURG	Physical Address	68 8TH WINDERMERE BEREA
Property Type	Freehold	Extent / Size	116.0SQM
Purchase Date	2011/08/22	Purchase price
% Ownership	0.00	Bond Holder	STANDARD BANK OF SOUTH AFRICA L
Bond Number	B279592011	Bond Amount

Title Deed No.	T42186/2011	Erf/Site No.
Deeds Office	PIETERMARITZBURG	Physical Address	WINDERMERE BEREA
Property Type	Freehold	Extent / Size	348.0SQM
Purchase Date	2011/08/22	Purchase price
% Ownership	0.00	Bond Holder	STANDARD BANK OF SOUTH AFRICA L
Bond Number	B279592011	Bond Amount

Principals

Number of Principals	2
Average Age of Active Principals	50

Active Principals Principal - 1of 2 MASON BIZZELL

Surname	BIZZELL
First Name	MASON
Other Names	LINDSAY
Marital Status	Married
ID Number	7808125134089
Verified ID Number	Yes
Current Age	34 Years 11 Months
Designation	Director
Status	Active
Appointment Date	2008/02/28
Physical Address (at time of Appointment)	45 STANLEY GRACE CRESCENT, UMHLANGA ROCK, 4319
Postal Address	45 STANLEY GRACE CRESCENT, UMHLANGA ROCKS, 4319
Current Tel Number	0313120108
Cell number	0825579097
Shareholding/Membership	50%

Principal's Adverse - No information on record

Business Information for MASON BIZZELL

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
DURBAN IDEAL ORGANISATION	M2009/016922/08	In Business	4 Years 4 Months	0	No
STARRATE SOUTHERN AFRICA CC	B1992/011236/23	In Business	21 Years 9 Months	0	No
TICALOG (PTY)LTD	K2012/225083/07	In Business	1 Years 1 Months	0	No

Principal Previous Business Interests

Average Age of Previous Business 6 Years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
TAKE SHAPE PROPERTIES 197 CC	B2006/090514/23	In Business	7 Years 7 Months	0	No
THETAPHARM (PTY) LTD	M2008/022305/07	Deregistration Final	5 Years 5 Months	0	No

Principal's Deeds Information - No information on record

Principal - 2of 2 RICHARD BIZZELL

Surname	BIZZELL
First Name	RICHARD
Other Names	NONE
Marital Status	Married
ID Number	4712205098086
Verified ID Number	Yes
Current Age	65 Years 7 Months
Designation	CEO
Status	Active
Appointment Date	1992/04/24
Physical Address (at time of Appointment)	WOODHALL, 24 KINGS "AVENUE, WESTVILLE, 3629
Postal Address	STARRATE, C/O KINGS AVENUE, WESTVILLE, 3629
Current Tel Number	0313120108
Cell number	0827741504
Shareholding/Membership	50%

Principal's Adverse - No information on record
Business Information for RICHARD BIZZELL

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
DURBAN IDEAL ORGANISATION	M2009/016922/08	In Business	4 Years 4 Months	0	No
STARRATE SOUTHERN AFRICA CC	B1992/011236/23	In Business	21 Years 9 Months	0	No
TWO HUNDRED AND SEVENTY FIVE UMBILO ROAD (PTY) LTD	M1991/005922/07	Conversion CO/CC or CC/CO	22 Years 10 Months	0	No
WOODHALL GUESTHOUSE CC	B2008/190388/23	In Business	5 Years 5 Months	0	No

Principal Previous Business Interests

Average Age of Previous Business 26 Years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
BRIDGE COMMUNICATIONS CC	B1997/048246/23	Deregistration Final	16 Years 4 Months	0	No
JARRY (PTY)LTD	1957/000058/07	Conversion CO/CC or CC/CO	56 Years 8 Months	0	No
PROPDEV (PTY)LTD	M1984/002278/07	Deregistration Final	29 Years 5 Months	0	No
THETAPHARM (PTY) LTD	M2008/022305/07	Deregistration Final	5 Years 5 Months	0	No

Principal's Deeds Information - No information on record

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.58.94
UK Pound	1	Rs.90.48
Euro	1	Rs.77.87

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	STARRATE SOUTHERN AFRICA CC
Trading as/ Division Name	None
Previous Name	Unavailable
Date of Name Change	1992-04-24
Registration Number	B1992/011236/23
Registration Date	1992/04/24
Date Commenced Trading	1992-04-24
Age of Business	21 Years 3 Months
History of Business	STARRATE SOUTHERN AFRICA CC was registered in April 1992 and underwent a simultaneous name to the current name.
History of Principals	There are 2 active members within the business.
Shareholders/Members/Partners of subject and % holding	50 % - MASON LINDSAY BIZZELL, 50 % - RICHARD BIZZELL
Authorised Share Capital	R0.00
Issued Share Capital/Members Contribution	R 100.00
Status	In Business
Operations Assessment	The company is involved in the supply of sterile and non-sterile primary and secondary packaging products for the medical, veterinary, food and cosmetic industry.
Industry/ Customers	Specialized packaging industries.
Export	Yes
Export Countries	American Samoa,Morocco, Senegal
Import	Yes
Import Countries	India
Major Industry Code / SICC	88950
Definition of Code	Packaging activities
Head Office Physical Address	68 8TH AVENUE, MORNINGSIDE, DURBAN, KWAZULU NATAL, 4001
Head Office Postal Address	68 8TH AVENUE, MORNINGSIDE, DURBAN, KWAZULU NATAL, 4001
Current Tel Number	0313120108
Cell Number	0813933142
Current Fax Number	0313035798
Current Email Address	info@starrate.co.za
Web Site Address	www.starrate.co.za