|
Report Date : |
22.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
STEELMOR
INDUSTRIES (PTY)LTD |
|
|
|
|
Formerly Known As : |
STEELMOR
INDUSTRIES CC |
|
|
|
|
Registered Office : |
2
Rotterdam Road, Appex, BENONI, 1501 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
27.02.1986 |
|
|
|
|
Com. Reg. No.: |
B1986/004852/23 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacture
of stainless steel products |
|
|
|
|
No. of Employees : |
Not Available |
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 |
STEELMOR
INDUSTRIES (PTY)LTD |
|
Subject
Contact Person |
CHRIS
HARISS - FINANCIAL MANAGER |
|
Assessment |
This is
an established business. On investigation contact was made with MR. CHRIS
HARISS the financial manager who declined to assist with all the information
on the subject. MR. HARISS stated that he would not divulge any information
on the company until the name of the principal enquirer is known. Please see
the available information on the subject below. |
|
Registered
Name |
STEELMOR
INDUSTRIES (PTY)LTD |
|
Trading
as/ Division Name |
STEELMOR |
|
Previous
Name |
STEELMOR
INDUSTRIES CC |
|
Date of
Name Change |
1978-08-09 |
|
Registration
Number |
B1986/004852/23 |
|
Registration
Date |
1986/02/27 |
|
Date
Commenced Trading |
1986-02-27 |
|
Age of
Business |
27 Years
4 Months |
|
History
of Business |
The
business was initially established prior to 1978. It was then converted from
a closed corporation (CC) to a (PTY)LTD in 1986. |
|
History
of Principals |
There
are currently 3 active directors within the business. |
|
Shareholders/Members/Partners
of subject and % holding |
Undisclosed |
|
Authorised
Share Capital |
R 0.00 |
|
Issued
Share Capital/Members Contribution |
R 0.00 |
|
Status |
Conversion
CO/CC or CC/CO |
|
Operations
Assessment |
Manufacture
of stainless steel products |
|
Industry/
Customers |
All
major wholesalers of stainless steel and the mining industry. |
|
Export |
|
|
Export
Countries |
|
|
Import |
|
|
Import
Countries |
|
|
Major
Industry Code / SICC |
3510 |
|
Definition
of Code |
MANUFACTURE
OF BASIC IRON AND STEEL |
|
Head
Office Physical Address |
2
Rotterdam Road, Appex, BENONI, 1501 |
|
Head
Office Postal Address |
PO BOX
792, BRAKPAN, 1540 |
|
Current
Tel Number |
0117475700 |
|
Cell
Number |
Undisclosed |
|
Current
Fax Number |
0114222221 |
|
Current
Email Address |
|
|
Web Site
Address |
|
|
Comments |
|
|
Company
Registered Name |
J D HILL
AND COMPANY INC |
|
Trading
Name |
J.D.
HILL & COMPANY |
|
Registration
Number |
M1996/001241/21 |
|
Physical
Address |
17A
ROTHERFIELD AVENUE, ESSEXWOLD, BEDFORDVIEW |
|
Postal
Address |
P.O. BOX
492, BENONI, 1500 |
|
Contact
Person |
JAMES
DOUGLAS HILL |
|
Contact
Number |
0114217146 |
|
Email |
|
|
Principals |
1 |
|
Judgements
Against Subject |
None On
Record |
|
Judgements
Against Principals |
None On
Record |
|
Subject
Verified as Client |
|
|
Practice
Number |
921769 |
|
VAT
Number |
Undisclosed |
|
Tax
Number |
9001393801 |
|
BEE
Status |
Undisclosed |
|
Financial
Year End |
April |
|
No of
years in Business |
5 Years |
|
Website |
Undisclosed |
|
Comment |
|
Previous
Auditors Information - No Information on Record
Tax
Information - No Information on Record
Black
Economic Empowerment Information - No Information on Record
ISO Status
|
Type of
ISO Grade |
ISO
9001:2008 |
|
ISO
Certificate |
Yes |
|
ISO
Certificate Available |
No |
|
Certified
by an Accredited Agent |
Yes |
|
Comment |
|
Work Mans
Information - No Information on Record
Company
Structure
Subsidiaries
Information - No Information on Record
Employees
Information - No Information on Record
Company
Fleet
|
Company
Fleet |
No of
vehicles: |
Ownerd/Leased |
Value |
Outstanding
Balance |
|
Fleet
Operations |
|
|||
|
The
Fleet is made up of |
27 |
|||
|
Comment |
|
|||
|
Light
delivery Vehicles |
9 |
|
|
|
|
Fork
Lifts |
4 |
|
|
|
|
Other |
14 |
|
|
|
Offices
Information - No Information on Record
Branch
Information - No Information on Record
Organisational
Chart – No Information on Record
Company
Structure Information - No Information on Record
Note: One
level up and all levels down
Key Deals
- No Information on Record
Trade
References Information - No Information on Record
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
Information - No Information on Record
Bank Code
History - No Information on Record
Previous
Bank Account Information - No Information on Record
Property
Interests for CompanySTEELMOR INDUSTRIES (PTY)LTD
|
Title
Deed No. |
T71532/2000 |
Erf/Site
No. |
|
|
Deeds
Office |
JOHANNESBURG |
Physical
Address |
3 MILAN
APEX BENONI |
|
Property
Type |
Freehold |
Extent /
Size |
2133.0SQM |
|
Purchase
Date |
2000/08/24 |
Purchase
price |
|
|
%
Ownership |
0.00 |
Bond
Holder |
STANDARD
BANK OF SOUTH AFRICA L |
|
Bond
Number |
B551532000 |
Bond
Amount |
|
|
Comment |
|
||
|
|
|||
|
Title
Deed No. |
T65345/1999 |
Erf/Site
No. |
0 |
|
Deeds Office |
CAPE
TOWN |
Physical
Address |
GLENTANA
GROOT BRAKRIVIER |
|
Property
Type |
Farms |
Extent /
Size |
542.0SQM |
|
Purchase
Date |
1999/06/21 |
Purchase
price |
|
|
%
Ownership |
0.00 |
Bond
Holder |
|
|
Bond
Number |
|
Bond
Amount |
|
|
Comment |
|
||
|
|
|||
|
Title
Deed No. |
T37921/1999 |
Erf/Site
No. |
0 |
|
Deeds
Office |
CAPE
TOWN |
Physical
Address |
|
|
Property
Type |
Freehold |
Extent /
Size |
100.0SQM |
|
Purchase
Date |
1999/03/26 |
Purchase
price |
|
|
%
Ownership |
0.00 |
Bond
Holder |
|
|
Bond
Number |
|
Bond
Amount |
|
|
Comment |
|
||
|
Title
Deed No. |
T37921/1999 |
Erf/Site
No. |
0 |
|
Deeds
Office |
CAPE
TOWN |
Physical
Address |
|
|
Property
Type |
Freehold |
Extent /
Size |
807.0SQM |
|
Purchase
Date |
1999/03/26 |
Purchase
price |
|
|
%
Ownership |
0.00 |
Bond
Holder |
|
|
Bond
Number |
|
Bond
Amount |
|
|
Comment |
|
||
Principals
|
Number
of Principals |
3 |
|
Average
Age of Active Principals |
55 |
|
Active
Principals Principal - 1of 3 SEAN KAY-CLOUGH |
|
|
Surname |
KAY-CLOUGH |
|
First
Name |
SEAN |
|
Other
Names |
None |
|
Marital
Status |
Divorced |
|
ID
Number |
6512145245088 |
|
Verified
ID Number |
Yes |
|
Current
Age |
47 Years
6 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2008/02/03 |
|
Physical
Address (at time of Appointment) |
11 VAN
DER STEL STREET, ALPHEN PARK, BENONI, 1501 |
|
Postal
Address |
P.O. BOX
792, BRAKPAN, 1540 |
|
Current
Tel Number |
0117475760 |
|
Cell
number |
0836302693 |
|
Shareholding/Membership |
0.00 |
Principal's
Adverse - No information on record
Business
Information forSEAN KAY-CLOUGH
Principal
Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
KAY-CLOUGH
INVESTMENTS CC |
B1986/004851/23 |
Conversion
CO/CC or CC/CO |
27 Years
3 Months |
0 |
No |
|
|
STEELMOR
INDUSTRIES CC |
B1986/004852/23 |
Conversion
CO/CC or CC/CO |
27 Years
3 Months |
0 |
No |
|
|
STEELMOR
STAINLESS ENTERPRISES (PTY)LTD |
M2003/000182/07 |
In
Business |
10 Years
10 Months |
0 |
No |
|
Principal
Previous Business Interests
Average
Age of Previous Business 15
Years
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
S MI
FORGED FLANGES (PTY)LTD |
M1997/012151/07 |
Deregistration
Final |
16 Years
4 Months |
0 |
No |
|
|
SMI
METAL PRODUCTS (PTY)LTD |
M1998/009485/07 |
Deregistration
Final |
15 Years
3 Months |
0 |
No |
|
|
SMI
STAINLESS FITTINGS (PTY)LTD |
M1999/021071/07 |
Deregistration
Final |
14 Years
2 Months |
0 |
No |
|
Principal's
Deeds Information - No information on record
Principal
- 2of 3
STEVEN
KAY-CLOUGH
|
Surname |
KAY-CLOUGH |
|
First
Name |
STEVEN |
|
Other
Names |
None |
|
Marital
Status |
Married |
|
ID
Number |
7011155257082 |
|
Verified
ID Number |
Yes |
|
Current
Age |
42 Years
7 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2004/10/18 |
|
Physical
Address (at time of |
2 OLIENHOUT,
NORTHVILLE, BENONI, 1501 |
|
Appointment) |
|
|
Postal
Address |
P.O. BOX
792, BRAKPAN, 1540 |
|
Current
Tel Number |
0117475700 |
|
Cell
number |
|
|
Shareholding/Membership |
|
Principal's
Adverse - No information on record
Business
Information forSTEVEN KAY-CLOUGH
Principal
Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
KAY-CLOUGH
INVESTMENTS CC |
B1986/004851/23 |
Conversion
CO/CC or CC/CO |
27 Years
3 Months |
0 |
No |
|
|
STEELMOR
INDUSTRIES CC |
B1986/004852/23 |
Conversion
CO/CC or CC/CO |
27 Years
3 Months |
0 |
No |
|
Principal
Previous Business Interest
Average
Age of Previous Business 15 years
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
S MI
FORGED FLANGES (PTY)LTD |
M1997/012151/07 |
Deregistration
Final |
16 Years
4 Months |
0 |
No |
|
|
SMI
METAL PRODUCTS (PTY)LTD |
M1998/009485/07 |
Deregistration
Final |
15 Years
3 Months |
0 |
No |
|
|
SMI
STAINLESS FITTINGS (PTY)LTD |
M1999/021071/07 |
Deregistration
Final |
14 Years
2 Months |
0 |
No |
|
Principal's
Deeds Information - No information on record
Principal
- 3of 3
ELLEN KAY
CLOUGH
|
Surname |
KAY
CLOUGH |
|
First
Name |
ELLEN |
|
Other
Names |
None |
|
Marital
Status |
Single |
|
ID
Number |
3705280221186 |
|
Verified
ID Number |
Yes |
|
Current
Age |
76 Years
1 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
1994/07/13 |
|
Physical
Address (at time of Appointment) |
25
CAMBRIDGE GARDENS, FARRARMERE, BENONI, 1501 |
|
Postal
Address |
PO BOX
792, BRAKPAN, 1540 |
|
Current
Tel Number |
0117475700 |
|
Cell
number |
|
|
Shareholding/Membership |
|
Principal's
Adverse - No information on record
Business
Information forELLEN KAY CLOUGH Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
KAY-CLOUGH
INVESTMENTS CC |
B1986/004851/23 |
Conversion
CO/CC or CC/CO |
27 Years
3 Months |
0 |
No |
|
|
S W
ENGINEERING CC |
B1993/032979/23 |
Conversion
CO/CC or CC/CO |
20 Years
8 Months |
0 |
No |
|
|
STEELMOR
INDUSTRIES CC |
B1986/004852/23 |
Conversion
CO/CC or CC/CO |
27 Years
3 Months |
0 |
No |
|
|
STEELMOR
STAINLESS ENTERPRISES (PTY)LTD |
M2003/000182/07 |
In
Business |
10 Years
10 Months |
0 |
No |
|
Principal
Previous Business Interests
Average
Age of Previous Business 15
Years
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
S MI
FORGED FLANGES (PTY)LTD |
M1997/012151/07 |
Deregistration
Final |
16 Years
4 Months |
0 |
No |
|
|
SMI
LOGISTICS (PTY)LTD |
M1997/004883/07 |
Deregistration
Final |
16 Years
4 Months |
0 |
No |
|
|
SMI
STAINLESS FITTINGS (PTY)LTD |
M1999/021071/07 |
Deregistration
Final |
14 Years
2 Months |
0 |
No |
|
Principal's
Deeds Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.35 |
|
|
1 |
Rs.92.11 |
|
Euro |
1 |
Rs.78.59 |
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.