MIRA INFORM REPORT

Report Date :

15.06.2013

IDENTIFICATION DETAILS

Name :	CAST IRON INDUSTRIES CC

Registered Office :	P O Box 9307, Eppindust, 0475

Country :	South Africa

Date of Incorporation :	17.02.1998

Com. Reg. No.:	B1998/008011/23

Legal Form :	Closed Corporation

Line of Business :	Manufacturer of manhole covers and frames

No. of Employees :	05

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 – 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	CAST IRON INDUSTRIES CC
Country	South Africa
Subject Contact Person	SAAAALL RAJKUMAR-MANAGING MEMBER
Assessment	This is an established business. On investigation contact was made with MR. SAMALL RAJKUMAR the managing member who assisted with most of the required information. The subject is meeting commitments timeously with suppliers, however only two suppliers were able to assist with trade references. MR. RAJKUMAR only supplied us with four of the subject's suppliers due to it being confidential. A bank code could not be obtained as MR. RAJKUMAR declined to divulge the subject s bank account number. Please see the available information obtained below.

Auditors information

Company Registered Name	PRICE WATERHOUSECOOPERS INC
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 BOTES
Contact Number	0117974000
Email	Unavailable
Principals	248
Judgements Against Subject	None On Record
Judgements Against Principals	None On Record
Subject Verified as Client	Yes
Practice Number	901091E
VAT Number	4950174682
Tax Number	9343032844
BEE Status	Undisclosed
Financial Year End	June
No of years in Business	Undisclosed
Website	www.pwc.co.za

Previous Auditors Information - No Information on Record

Tax information

Vat Number	4950188948
Status	ACTIVE
Vat Liable Date	2000/08/01
Tax Number	9951001214
Financial Year End	February

Black Economic Empowerment

Status	Yes
Score	3.00
Expire Date	Jun 17 2013
BEE Certificate Available	No
Comment

ISO Information - No Information on Record

Workman's compensation

Registered	Yes
Compliance Certified	Yes

Company Structure

Subsidiaries Information - No Information on Record

Employees
Number of Employees	5
1. Salaried employees	5
2. Waged employees
3. Permanent employees	5
Company Fleet
Company Fleet	No of vehicles:	Owned/Leased	Value	Outstanding Balance
Fleet Operations
The Fleet is made up of	3
Comment
Cars	1	Owned
Trucks	1	Owned
Fork Lifts	1	Owned

Offices

Offices	Offices
Head Office Owned/ Rented	Leased
Rental Company	REDEFINED PROPERTIES
Type of Premises	Offices and Warehousing

Branch Information - No Information on Record

Management Overview

Organisation Chart

Level	Position	Name	Comment

1	Member	SAMALL RAJKUMAR

1	Member	RISHAL RAJKUMAR

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
50%-SAMALL RAJKUMAR	CAST IRON INDUSTRIES CC
50 % - RISHAL RAJKUMAR	CAST IRON INDUSTRIES CC

Key Deals - No Information on Record

trade References

Trade Reference nr	Supplier	Contact	Surety Value	Notarial Bonds	Comment
1	NATAL IRON AND BRASS FOUNDRY	0333866573
2	PARROW BOLT AND NUT CENTRE	0219512377
3	SANDS PARK	0215110283
4	CAPETOWN RUBBERS	0215110850

Trade References Detail

Nr	Age of Acc	Credit Limit	Max Credit	Terms	Average Purchases	Terms Taken	Comment
1							The supplier is the subjects main supplier and is the sister company to CAST IRON INDUSTRIES CC.The supplier declined to assist with a trade referrence.
2							The supplier declined to assist with a trade reference
3	8 Years		R 20000	30 Days	R 20000	30 Days	The subject as an open account with the supplier.Very Good Account.
4	7 Years		R10000	30 Days	R2000	30 Days	Good

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

Bank	NEDBANK
Branch	NATAL BUSINESS BANKING
Brach Code	198765
Bank Account Number	Declined
Type of Account	CURRENT
Account Name	CAST IRON INDUSTRIES CC
Overdraft Facilities	Undisclosed
Bank Code	P
Bank Comment	A bank code could not be obtained as the subject declined to provide a bank account number.

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	35

Active Principals Principal - 1of 2 RISHAL RAJKUMAR

Surname	RAJKUMAR
First Name	RISHAL
Other Names	None
Marital Status	Married
ID Number	8210065297050
Verified ID Number	Yes
Current Age	30 Years 8 Months
Designation	MANAGING MEMBER
Status	Active
Appointment Date	1998/02/17
Physical Address (at time of Appointment)	34 WOODSTOCK ROAD, PIETERMARITZBURG, 3201
Postal Address	P 0 BOX 247, LAXMI, 3207
Current Tel Number	0333866572
Cell number	0849992775
Shareholding/Membership	50%

Principal's Adverse - No information on record

Business Information for RISHAL RAJKUMAR

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
CAST IRON INDUSTRIES CC	B1998/008011/23	In Business	15 Years 3 Months	0	No
HAYWORTH ROAD PROPERTIES CC	B1991/004051/23	In Business	22 Years 10 Months	0	No
LIGHTING IAAAGE CC	B1992/006458/23	In Business	21 Years 9 Months	0	No
NATAL IRON AND BRASS FOUNDRY CC	B1987/018590/23	In Business	26 Years 2 Months	0	No

Principal's Previous Business Interests - No information on record

Principal's Deeds Information - No information on record

Principal - 2of 2 SAMALL RAJKUMAR

Surname	RAJKUMAR
First Name	SAMALL
Other Names	None
Marital Status	Married
ID Number	7302015102083
Verified ID Number	Yes
Current Age	40 Years 4 Months
Designation	MANAGING MEMBER
Status	Active
Appointment Date	1998/02/17
Physical Address (at time of Appointment)	27 WOODSTOCK ROAD, MOUNTAIN RISE, PIETERMARITZBURG, 3201
Postal Address	P O BOX 247, LAXMI, 3207
Current Tel Number	0333866573
Cell number	0780192690
Shareholding/Membership	50%

Principal's Adverse - No information on record

Business Information for SAMALL RAJKUMAR

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
CAST IRON INDUSTRIES CC	B1998/008011/23	In Business	15 Years 3 Months	0	No
HAYWORTH ROAD PROPERTIES CC	B1991/004051/23	In Business	22 Years 10 Months	0	No
LIGHTING IAAAGE CC	B1992/006458/23	In Business	21 Years 9 Months	0	No
NATAL IRON AND BRASS FOUNDRY CC	B1987/018590/23	In Business	26 Years 2 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.57.74
UK Pound	1	Rs.90.64
Euro	1	Rs.77.02

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	CAST IRON INDUSTRIES CC
Trading as/ Division Name	CAST IRON MERCHANDISING
Previous Name	None
Date of Name Change	None
Registration Number	B1998/008011/23
Registration Date	1998/02/17
Date Commenced Trading	1998-02-17
Age of Business	15 Years 4 Months
History of Business	The subject was established in 1998 and operations commenced immediately.
History of Principals	There are currently 2 active directors within the business.
Shareholders/Members/Partners of subject and % holding	50 % - SAMALL RAJKUMAR, 50 % - RISHAL RAJKUMAR
Authorised Share Capital	R0.00
Issued Share Capital/Members Contribution	R0.00
Status	In Business
Operations Assessment	Manufacture of manhole covers and frames
Industry/ Customers	Government based infrastructures and corporate businesses.
Major Industry Code / SICC	3510
Definition of Code	MANUFACTURE OF BASIC IRON AND STEEL
Head Office Physical Address	Corner of Moderdam & Pallotti, Airport Industry, CAPE TOWN
Head Office Postal Address	P O BOX 9307, EPPINDUST, 0475
Current Tel Number	0219349943
Cell Number
Current Fax Number	0219342076
Current Email Address	nibf@mweb.co.za
Web Site Address	www.nibf.co.za