|
Report Date : |
07.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
FEDERAL-MOGUL OF SOUTH AFRICA (PTY)LTD |
|
|
|
|
Registered Office : |
1-77 Burman Road, Port Elizabeth, 6001 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
24.07.1995 |
|
|
|
|
Com. Reg. No.: |
M1995/007557/07 |
|
|
|
|
Legal Form : |
Private company |
|
|
|
|
Line of Business : |
Distributors of a broad portfolio of products in the global vehicle
aftermarket, while also serving original equipment (OE/OES) manufacturers
with vehicle products including brake friction, chassis, wipers and other
components. |
|
|
|
|
No. of Employees : |
320 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
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 |
FEDERAL-MOGUL OF SOUTH AFRICA (PTY)LTD |
|
Country |
South Africa |
|
Subject Contact Person |
CHANEL GOUWS - Financial Manager |
|
Assessment |
This is a well-established and well -connected business. On investigation contact was made with the financial manager CHANEL GOUWS who assisted with the basic information on the subject. We are awaiting trade references, banking details and financial information. Please see the available information obtained below. |
|
Registered Name |
FEDERAL-MOGUL OF SOUTH AFRICA (PTY)LTD |
|
Trading as/ Division Name |
FEDERAL MOGUL SEALING SYSTEMS SOUTH AFRICA |
|
Previous Name |
Undisclosed |
|
Date of Name Change |
Undisclosed |
|
Registration Number |
M1995/007557/07 |
|
Registration Date |
1995/07/24 |
|
Date Commenced Trading |
1995-07-24 |
|
Age of Business |
17 Years 10 Months |
|
History of Business |
The company
FEDERAL MOGUL SEALING SYSTEMS is a division of FEDERAL-MOGUL OF SOUTH AFRICA
(PTY) LTD. |
|
History of Principals |
There are 6 active directors within the business. |
|
Shareholders/Members/Partners of subject and % holding |
100 % - FEDERAL-MOGUL OF SOUTH AFRICA (PTY)LTD |
|
Authorised Share Capital |
R1000.00 |
|
Issued Share Capital/Members Contribution |
R 100.00 |
|
Status |
In Business |
|
Operations Assessment |
Distributors of
a broad portfolio of products in the global vehicle aftermarket, while also
serving original equipment (OE/OES) manufacturers with vehicle products
including brake friction, chassis, wipers and other components. |
|
Industry/ Customers |
VW, MERCEDES, BMW and after-market part
distributors |
|
Export |
Yes |
|
Export Countries |
India |
|
Import |
Yes |
|
Import Countries |
India |
|
Major Industry Code / SICC |
38302 |
|
Definition of Code |
Activities of specialised automotive
engineering workshops. |
|
Head Office Physical Address |
1-77 Burman Road, PORT ELIZABETH, 6001 |
|
Head Office Postal Address |
P O Box 90057,Estadeal, PORT ELIZABETH, 6012 |
|
Current Tel Number |
0414044235 |
|
Cell Number |
Undisclosed |
|
Current Fax Number |
0414861664 |
|
Current Email Address |
Undisclosed |
|
Web Site Address |
|
Company Registered Name |
GRANT THORNTON SERVICES (PTY)LTD |
|
Trading Name |
GRANT THORNTON |
|
Registration Number |
M1992/003064/07 |
|
Physical Address |
137 DAISY STREET, CNR GRAYSTON DRIVE, SANDOWN, 2196 |
|
Postal Address |
PRIVATE BAG 28, BENMORE, 2010 |
|
Contact Person |
GILLIAN |
|
Contact Number |
0118833319 |
|
Email |
Undisclosed |
|
Principals |
7 |
|
Judgements Against Subject |
None On Record |
|
Judgements Against Principals |
None On Record |
|
Subject Verified as Client |
Yes |
|
Practice Number |
905690 |
|
VAT Number |
4100135575 |
|
Tax Number |
9333069848 |
|
BEE Status |
Undisclosed |
|
Financial Year End |
August |
|
No of years in Business |
Unknown |
|
Website |
Previous Auditors
|
Company Name |
Phone Number |
Time with previous auditors |
Comment |
|
COOPERS AND LAYBRAND |
|
18 |
|
|
Vat Number |
4860152547 |
|
Status |
ACTIVE |
|
Vat Liable Date |
1995/09/30 |
|
Tax Number |
9000538661 |
|
Financial Year End |
December |
|
Status |
Yes |
|
Score |
5.00 |
|
Expire Date |
|
|
BEE Certificate Available |
No |
ISO Information - No Information on Record
|
Registered |
Yes |
|
Compliance Certified |
Yes |
Subsidiaries Information - No Information on Record
|
Employees |
||||
|
Number of Employees |
320 |
|||
|
1. Salaried employees |
|
|||
|
2. Waged employees |
|
|||
|
3. Permanent employees |
|
|||
|
4. Casual employees |
|
|||
|
5. Contracted employees |
|
|||
|
Comment |
Includes a combination of salaried, waged, permanent, casual and
contractors |
|||
|
Company Fleet |
||||
|
Company Fleet |
No of vehicles: |
Owned/Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is made up of |
5 |
|||
|
Comment |
|
|||
|
Cars |
1 |
Owned |
|
|
|
Trucks |
1 |
Owned |
|
|
|
Light delivery Vehicles |
3 |
Owned |
|
|
|
Offices |
Offices |
|
Head Office Owned/ Rented |
Owned |
|
Rental Company |
N/A |
|
Owned by |
FEDERAL MOGUL SOUTH AFRICA (PTY) LTD |
|
Bank |
Undisclosed |
|
Lease Agreement |
N/A |
|
Lease Expire Date |
N/A |
|
Type of Premises |
OFFICES, WAREHOUSE AND FACTORY |
|
Branches Names |
Country |
Province |
|
FEDERAL-MOGUL DURBAN |
South Africa |
KWAZULU NATAL |
|
Branches Owned/ Rented |
Owned |
|
Rental Company |
N/A |
|
Owned by |
FEDERAL MOGUL SOUTH AFRICA (PTY) LTD |
|
Bank |
Undisclosed |
|
Lease Agreement |
N/A |
|
Lease Expire Date |
N/A |
|
Type of Premises |
Warehouse and Offices |
Organisation Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
|
Director |
NIVESH MOTH I LAL |
|
|
|
|||
|
|
Director |
RAMZI HERMIZ |
|
|
|
|||
|
|
Director |
BETTINA HERMANN |
|
|
|
|||
|
|
Director |
CHRISTIAN MILLER |
|
|
|
|||
|
|
Director |
WILHELM SCHMELZER |
|
|
|
|||
|
1 |
Director |
KEVIN THOMAS |
|
Company Structure (Ownership)
Note: One level up and all
levels down
|
Holding |
Company |
Sub |
Comment |
|
100% - FEDERAL MOGUL SOUTH AFRICA (PTY) LTD |
FEDERAL MOGUL SEALING SYSTEMS SOUTH AFRICA |
|
|
Key Deals - No
Information on Record
Trade References
Information - No Information on Record
Judgements - No
information on record
Business Rescue - No Information
on Record
Default Listing - No
information on record
Notarial Bonds - No
information on record
|
Bank |
STANDARD BANK |
|
Branch |
Declined |
|
Brach Code |
051001 |
|
Bank Account Number |
Declined |
|
Type of Account |
Declined |
|
Account Name |
Declined |
|
Overdraft Facilities |
Declined |
Bank Code History - No Information on Record
Previous Bank Account Information - No Information on Record
Property Interests for Company FEDERAL-MOGUL OF SOUTH AFRICA (PTY)LTD
|
Title Deed No. |
T52440/2004 |
Erf/Site No. |
|
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
|
|
Property Type |
Freehold |
Extent / Size |
3783.0SQM |
|
Purchase Date |
2003/08/20 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
|
Comment |
|
||
|
|
|||
|
Title Deed No. |
T16319/2001 |
Erf/Site No. |
|
|
Deeds Office |
JOHANNESBURG |
Physical Address |
12 ANDERSON CITY WEST JOHANNESBURG |
|
Property Type |
Freehold |
Extent / Size |
6923.0SQM |
|
Purchase Date |
1999/01/01 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
|
Comment |
|
||
|
Title Deed No. |
T16319/2001 |
Erf/Site No. |
|
|
Deeds Office |
JOHANNESBURG |
Physical Address |
35 WESTERN CITY WEST JOHANNESBURG |
|
Property Type |
Freehold |
Extent / Size |
8750.0SQM |
|
Purchase Date |
1999/01/01 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
|
Comment |
|
||
|
|
|||
|
Title Deed No. |
T10998/2001 |
Erf/Site No. |
|
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
|
|
Property Type |
Freehold |
Extent / Size |
4.64H |
|
Purchase Date |
1999/01/01 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
|
Comment |
|
||
|
|
|||
|
Title Deed No. |
T21738/2001 |
Erf/Site No. |
|
|
Deeds Office |
CAPE TOWN |
Physical Address |
71 BURMAN DEAL PARTY PORT ELIZABETH |
|
Property Type |
Freehold |
Extent / Size |
1.1896H |
|
Purchase Date |
1999/01/01 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
|
Comment |
|
||
|
Title Deed No. |
T11566/2001 |
Erf/Site No. |
|
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
11 JOYNER PROSPECTON PROSPECTON |
|
Property Type |
Freehold |
Extent / Size |
1.3895H |
|
Purchase Date |
1999/01/01 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
|
Comment |
|
||
|
Title Deed No. |
T28011/2001 |
Erf/Site No. |
|
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
13 JOYNER PROSPECTON PROSPECTON |
|
Property Type |
Freehold |
Extent / Size |
1.6155SQM |
|
Purchase Date |
1999/01/01 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
|
Number of Principals |
7 |
|
Average Age of Active Principals |
51 |
Active Principals Principal
- 1of 6 NIVESH MOTHILAL
|
Surname |
MOTHILAL |
|
First Name |
NIVESH |
|
Other Names |
|
|
Marital Status |
|
|
ID Number |
7101315279082 |
|
Verified ID Number |
Yes |
|
Current Age |
42 |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
2011/12/01 |
|
Physical Address (at time of Appointment) |
NO 2 92 SIXTH AVENUE, MORNINGSIDE, DURBAN, 4001 |
|
Postal Address |
P 0 BOX 26047, ISIPINGO BEACH, 4115 |
|
Current Tel Number |
0312007031 |
|
Cell number |
0823218411 |
|
Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information
for NIVESH MOTHILAL
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
FEDERAL-MOGUL AFTERMARKET SOUTHERN AFRICA (PTY) LTD |
M1987/001513/07 |
In Business |
25 Years 8 Months |
0 |
No |
|
|
FEDERAL-MOGUL OF SOUTH AFRICA (PTY) LTD |
M1995/007557/07 |
In Business |
17 Years 10 Months |
0 |
No |
|
|
FEDERAL-MOGUL (PTY) LTD |
M1998/009374/07 |
In Business |
15 Years |
0 |
No |
|
|
FEDERAL-MOGUL POWERTRAIN SYSTEMS S A (PTY) LTD |
M2005/020442/07 |
In Business |
7 Years 11 Months |
0 |
No |
|
Principal's Previous Business
Interests - No information on record
Principal's Deeds
Information - No information on record
Principal - 2of 6
RAMZI HERMIZ
|
Surname |
HERMIZ |
|
First Name |
RAMZI |
|
Other Names |
YOUSIF |
|
Marital Status |
|
|
ID Number |
2058124510000 |
|
Verified ID Number |
No |
|
Current Age |
48 |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
2005/01126 |
|
Physical Address (at time of Appointment) |
15992 COG HILL DRIVE, NORTHVILLE, MICHIGAN 48168, USA, 0000 |
|
Postal Address |
26555 NORTHWESTERN HIGHWAY, SOUTHFIELD, MICHIGAN 48033 USA, USA, 0000 |
Principal's Adverse -
No information on record
Business Information
for RAMZI HERMIZ
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
FEDERAL-MOGUL OF SOUTH AFRICA (PTY) LTD |
M1995/007557/07 |
In Business |
17 Years 10 Months |
0 |
No |
|
Principal's Previous
Business Interests - No information on record
Principal's Deeds Information
- No information on record
Principal - 3of 6
BETTINA HERMANN
|
Surname |
HERMANN |
|
First Name |
BETTINA |
|
Other Names |
JOSEFINE THERESA |
|
Marital Status |
|
|
ID Number |
4346023442 |
|
Verified ID Number |
No |
|
Current Age |
54 |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
2005/01/26 |
|
Physical Address (at time of Appointment) |
EFFELTRICHER STRASSE 10, NORNBERG 90411, GERMANY, 0000 |
|
Postal Address |
STIEL STRASSE 11, WIESBADEN, 65201, GERMANY, 0000 |
|
Current Tel Number |
|
|
Cell number |
|
|
Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information
for BETTINA HERMANN
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
FEDERAL-MOGUL OF SOUTH AFRICA (PTY) LTD |
M1995/007557/07 |
In Business |
17 Years 10 Months |
0 |
No |
|
Principal's Previous
Business Interests - No information on record
Principal's Deeds
Information - No information on record
Principal - 4of 6
CHRISTIAN MILLER
|
Surname |
MILLER |
|
First Name |
CHRISTIAN |
|
Other Names |
|
|
Marital Status |
|
|
ID Number |
4008750262000 |
|
Verified ID Number |
No |
|
Current Age |
49 |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
2005/01/26 |
|
Physical Address (at time of Appointment) |
SCHONEAUSLICHT 48A, ESCHBORA, 65760, GERMANY, 0000 |
|
Postal Address |
STIEL STRASSE 11, WIESBADEN, 65201, GERMANY, 0000 |
|
Current Tel Number |
|
|
Cell number |
|
|
Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information
for CHRISTIAN MILLER
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
FEDERAL-MOGUL OF SOUTH AFRICA (PTY) LTD |
M1995/007557/07 |
In Business |
17 Years 10 Months |
0 |
No |
|
Principal's Previous
Business Interests - No information on record
Principal's Deeds
Information - No information on record
Principal - 5of 6
WILHELM SCHMELZER
|
Surname |
SCHMELZER |
|
First Name |
WILHELM |
|
Other Names |
ADOLF |
|
Marital Status |
|
|
ID Number |
4011040000000 |
|
Verified ID Number |
No |
|
Current Age |
Unknown |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
|
|
Physical Address (at time of Appointment) |
SONNENBERGER STRASSE 16, WIESBADEN 65193, GERMANY, 0000 |
|
Postal Address |
SONNENBERGER STRASSE 16, WIESBADEN 65193, GERMANY, 0000 |
|
Current Tel Number |
|
|
Cell number |
|
|
Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information
for WILHELM SCHMELZER
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
FEDERAL-MOGUL OF SOUTH AFRICA (PTY) LTD |
M1995/007557/07 |
In Business |
17 Years 10 Months |
0 |
No |
|
Principal's Previous
Business Interests - No information on record
Principal's Deeds
Information - No information on record
Principal - 6of 6
KEVIN THOMAS
|
Surname |
THOMAS |
|
First Name |
KEVIN |
|
Other Names |
PATRICK |
|
Marital Status |
|
|
ID Number |
4810180000000 |
|
Verified ID Number |
No |
|
Current Age |
65 |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
|
|
Physical Address (at time of Appointment) |
35 AVENEU ROAD, TW183 AW, STAINES, UK, 0000 |
|
Postal Address |
35 AVENEU ROAD, TW183 AW, STAINES, UK, 0000 |
|
Current Tel Number |
|
|
Cell number |
|
|
Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information
for KEVIN THOMAS
Principal Current Business
Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
FEDERAL-MOGUL OF SOUTH AFRICA (PTY) LTD |
M1995/007557/07 |
In Business |
17 Years 10 Months |
0 |
No |
|
Principal's Previous Business
Interests - No information on record
Principal's Deeds
Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.87 |
|
UK Pound |
1 |
Rs.87.65 |
|
Euro |
1 |
Rs.74.52 |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.