MIRA INFORM REPORT

Report Date :

11.06.2013

IDENTIFICATION DETAILS

Name :	HARGRAM ENGINEERING (PTY)LTD

Registered Office :	20 Knights Road, Germiston Ext 3, 1410

Country :	South Africa

Date of Incorporation :	03.06.1946

Com. Reg. No.:	M1946/021851/07

Legal Form :	Private Company

Line of Business :	General mechanical engineering on a fee or contract basis

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 :	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 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	HARGRAM ENGINEERING (PTY)LTD
Country	South Africa
Subject Contact Person	CAROLYNA - 0118289309
Assessment	On investigation contact was made with the financial manager CAROLYNA who could not assist with the information as present. CAROLYNA stated that as it is the subjects month end, she could only assist on 12th June 2013. A questionnaire was sent to her via email for completion. Please see the available information below.

Auditors information

Company Registered Name	BRYAN FERRIERA AND COMPANY
Trading Name	None
Registration Number	3803195065085 (Sole Proprietor)
Physical Address	12 SHELLVIEW, 4 MONK STREET, TOWNSVIEW, 2197
Postal Address	P 0 BOX 162, ROSETTENVILLE, 2130
Contact Person	BRYAN FERREIRA
Contact Number	0118677841
Email	admin@brf.co.za
Principals	1
Judgements Against Subject	None On Record
Judgements Against Principals	None On Record
Subject Verified as Client	Yes
Practice Number	145005
VAT Number	Unavailable
Tax Number	Unavailable
BEE Status	Unavailable
Financial Year End	Unavailable
No of years in Business	24 Years 1 Months
Website	www.brf.co.za

Previous Auditors Information - No Information on Record

Tax information

Vat Number	4060101252
Status	ACTIVE
Tax Number	Undisclosed
Financial Year End	June

Black Economic Empowerment Information - No Information on Record

ISO Information - No Information on Record

Work Mans Information - No Information on Record

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	Managing Director	COLIN GEORGE AMM

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
100% - COLIN GEORGE AMM	HARGRAM ENGINEERING (PTY) LTD

Key Deals - No Information on Record

Trade References Information - No Information on Record

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 - No information on record

Principals

Number of Principals	2
Average Age of Active Principals	63

Active Principals Principal - 1of 1 COLIN AMM

Surname	AMM
First Name	COLIN
Other Names	GEORGE
Marital Status
ID Number	5005025023007
Verified ID Number	Yes
Current Age	63 Years 4 Months
Designation	Managing Director
Status	Active
Appointment Date	1972/04/17
Physical Address (at time of Appointment)	C/A 19 YORK STREET, HELDERKRUIN, ROODEPOORT, 1725
Postal Address	C/A 19 YORK STREET, HELDERKRUIN, ROODEPOORT, 1725
Current Tel Number	0112556500
Cell number	0738039105
Shareholding/Membership	100%

Principal's Adverse - No information on record

Business Information for COLIN AMM

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
HYDRAULIC COMPONENTS CC	B1987/000402/23	Conversion CO/CC or CC/CO	26 Years 2 Months	0	No
AMCOL ENTERPRISES (PTY) LTD	M1973/001584/07	In Business	40 Years 4 Months	0	No
AMM PROPERTY DEVELOPMENT (PTY) LTD	M2007/016160/07	In Business	6 Years 6 Months	0	No
ERF 4646 ROBERTSON CC	B1995/039726/23	In Business	18 Years 6 Months	0	No
HARGRAM ENGINEERING (PTY) LTD	M1946/021851/07	In Business	67 Years 7 Months	0	No

Principal Previous Business Interests

Average Age of Previous Business 33 Years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
ADAPTOR CORPORATION CC	B1985/003868/23	Deregistration Final	28 Years 4 Months	0	No
BARNITA PROPERTIES CC	B1988/025977/23	Deregistration Final	25 Years 1 Months	0	No
NORTHAM FAMILY HOLDINGS (PTY)LTD	M1987/004645/07	Deregistration Final	26 Years 2 Months	0	No
SOUTHAM FAMILY HOLDINGS (PTY)LTD	M1987/004644/07	Deregistration Final	26 Years 2 Months	0	No
W D RUSSELL (PTY) LTD	M1951/002172/07	In Business	62 Years 2 Months	0	No

Principal's Deeds Information - No information on record

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.57.78
UK Pound	1	Rs.89.71
Euro	1	Rs.76.24

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	HARGRAM ENGINEERING (PTY)LTD
Trading as/ Division Name	None
Previous Name	None
Date of Name Change	None
Registration Number	M1946/021851/07
Registration Date	1946/06/03
Date Commenced Trading	1946-06-03
Age of Business	67 Years
History of Business	The subject was established as a new business in 1946 and operations commenced immediately.
History of Principals	There is 1 active director within the business
Shareholders/Members/Partners of subject and % holding	100 % - COLIN GEORGE AMM
Authorised Share Capital	R1000.00
Issued Share Capital/Members Contribution	R 100.00
Status	In Business
Operations Assessment	Engineering
Industry/ Customers	Undisclosed
Major Industry Code / SICC	35522
Definition of Code	General mechanical engineering on a fee or contract basis
Head Office Physical Address	20 KNIGHTS ROAD, GERMISTON EXT 3, 1410
Head Office Postal Address	P O BOX 6211, HOMESTEAD, 1412
Current Tel Number	0118289309
Cell Number
Current Fax Number	0118289649
Current Email Address	carolyna@hagram.co.za
Web Site Address	www.hargram.co.za (Under Construction)