MIRA INFORM REPORT

Report Date :

12.03.2013

IDENTIFICATION DETAILS

Name :	DELITE FOODS CC

Registered Office :	Unit B, 43 Bell Crescent Westlake Business Park Westlake, Cape Town, 7460

Country :	South Africa

Date of Incorporation :	18.09.1990

Com. Reg. No.:	M1990/005600/07

Legal Form :	Close Corporation

Line of Business :	Retail Trade In Non-Specialised Stores With Food,Beverages And Tobacco Predominating

No. of Employees :	12

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 – June 30^th, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

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; a stock exchange that is the 18th largest in the world; and modern infrastructure supporting a relatively efficient distribution of goods to major urban centers throughout the region. Growth was robust from 2004 to 2007 as South Africa reaped the benefits of macroeconomic stability and a global commodities boom but began to slow in the second half of 2007 due to an electricity crisis and the subsequent global financial crisis' impact on commodity prices and demand. GDP fell nearly 2% in 2009 but recovered in 2010-11. Unemployment remains high and outdated infrastructure has constrained growth. 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. Daunting economic problems remain from the apartheid era - especially poverty, lack of economic empowerment among the disadvantaged groups, and a shortage of public transportation. South Africa''s economic policy is fiscally conservative focusing on controlling inflation and attaining a budget surplus. The current government largely follows these prudent policies but must contend with the impact of the global crisis and is facing 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

Company name

Subject Name	DELITE FOODS CC
Country	South Africa
Enquiry Terms	COD
Account Review	Recommended Every 6 Months
Subject Contact Person	ANNELINE TRIVELLA - 0217891885
Assessment	This is a well-established and well -connected business. On investigation contact was made with the Financial Manager ANNELINE TRIVELLA who assisted with the investigation. The subject is meeting it's commitments timeously with suppliers. Awaiting a Bank Code. Please see the available information on the subject below.

Auditors information

Company Registered Name	KIRKMAN LAMFEAR INC ^ww
Trading Name	KIRKMAN LAMFEAR
Registration Number	M2000/024271/21
Physical Address	64 Roeland Square, Roeland Street, Cape Town, 8001
Postal Address	PO Box 1869, Cape Town, 8000
Contact Person	Andrew Kirkman
Contact Number	0214656023
Email	andrew@kirkmanlanfear.co.za
Principals	1
Judgements Against Subject	NONE
Judgements Against Principals	NONE
Subject Verified as Client	Yes
Practice Number	953350
VAT Number	4410190252
Tax Number	9129199148
BEE Status
Financial Year End	February
No of years in Business	Unknown
Website	www.kirkmanlanfear.co.za
Comment

Previous Auditors

Company Name	Phone Number	Time with previous auditors	Comment
FRIEDBERG MILLER GRUFT INCORPORATED		Unknown
STALLEY ACCOUNTING CC		3

Tax information

Vat Number	4790152625
Status	ACTIVE
Vat Liable Date
Tax Number	9676692719
Tax Clearance Expire Date
Financial Year End	February
Comment

Black Economic Empowerment

Status	Yes
Score	5.00
Expire Date
BEE Certificate Available	Yes
Comment

ISO Information - No Information on Record
Workman's compensation
Registered	Yes
Compliance Certified	Yes
Comment

Company structure

Subsidiaries information – No information on Record

Employees

Number of Employees	12
1. Salaried employees	4
2. Waged employees	8
3. Permanent employees	4
4. Casual employees	8
5. Contracted employees
Comment
Company Fleet
Company Fleet	No of vehicles: Ownerd/Leased Value Outstanding Balance
Fleet Operations
The Fleet is made up of	1
Comment
Cars 1 Owned R 50000.00 R 0.00

Offices

Head Owned/ Rented	Leased
Rental Company	Private
Owned by
Value
Bond
Bank
Lease Agreement
Lease Expire Date
Type of Premises	Offices & Warehouse
Comment

Branch Information - No Information on Record

Management Overview

Organisation Chart

Level	Position	\| Name	Comment

1	MEMBER	\| BRIAN LANTON

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
100% BRIAN LANTON	DELITE FOODS CC

Key deals signed within the past 12 months.

Company	Value	Contact	Comment
Pick n Pay	R100000.00		Various buyers
Shoprite	R 50000.00		Various buyers
Spar	R 50000.00		Various buyers

Trade References

Trade Reference nr	Supplier	Contact	Surety Value	Notarial Bonds	Comment
1	Ullmans Distribution	011 4742406
2	TechPak	0215930882

Trade References Detail

Age of Acc

Credit Limit

Max Credit

Terms

Average Purchases

Terms Taken

1 YEAR

R 0.00

R 30000

30 DAYS

R 30000

30 DAYS

VERY GOOD ACcO H n T

NO CREDIT LIMIT-OPEN ACCOUNT

2 2004 R 20000.00 R 15000 30 DAYS R 15000 30 DAYS EXCELLENT

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
S A PECTIN (PTY)LTD	M1989/001098/07	Deregistration Final	24 Years 1 Months	0	No
SOYA BEVERAGE INDUSTRIES (PTY)LTD	M1991/004169/07	Deregistration Final	21 Years 7 Months	0	No
NUTRAPRIME FOODS (PTY)LTD	M1992/000757/07	Deregistration Final	21 Years 1 Months	0	No
SUNPECTIN (PTY)LTD	M1993/002249/07	Deregistration Final	19 Years 11 Months	0	No
A-JOY POWDERED FOODS (PTY)LTD	M1995/004886/07	Deregistration Final	17 Years 10 Months	0	No
BIO-COMMODITIES (PTY)LTD	M1995/010218/07	Deregistration Final	17 Years 6 Months	0	No

Adverse Information on Subject

Judgements
Judgements	1
Possible Judgements	No Information on Record
Civil Court	No Information on Record
RDs	No Information on Record
Comment	No Information on Record

BusinessRescue - No Information on Record

Default Listing - No information on record

Notarial Bonds - No information on record

_/I	_{Bank Information}
Ba ir	ABSA
Branch	Tyger Valley
Brach Code	632005
Bank Account Number	1001486159
Type of Account	CURRENT
Account Name	Delite Foods cc
Overdraft Facilities
Bank Code	Awaiting Bank Code
Bank Comment

Bank Code History - No Information on Record

Previous Bank Account Information - No Information on Record

Deeds Information - No information on record

Financial Information

Financial Estimates

CURRENT ASSETS	R1814000.00
Stock	R 722000.00
Debtors	R 926000.00
FIXED ASSETS	R 939000.00
Plant, Equipment, Vehicles	R 9000.00
Property
CURRENT LIABILITIES	R1469000.00
Creditors
Loans/ From?	R 4123000.00
Loan Details	3781000
LONG TERM LIABILITIES
Morgage Bonds
Previous Year Turnover	R 3409000.00
Estimated Current Year Turnover	R 3800000.00
Current Turnover per month	R 284083.00
Current Turnover per annum
Comment

Please note the following:
Turnover and assets less than R 1,000,000.00	The subject falls within the National Credit Act
Turnover and assets less than R 2,000,000.00	The subject falls within the Consumer Protection Act

Number of Principals	₁
Average Age of Active Principals	56
Active Principals Principal - 1of 1 BRIAN LANTON
Surname	LANTON
First Name	BRIAN
Other Names	NONE
Marital Status	Single
ID Number	5711035772182
Verified ID Number	Yes
Current Age	56
Designation	MEMBER
Status	Active
Appointment Date	2009/07/14
Physical Address (at time of Appointment)	PLOT 30 936, NTHOMBENI WAY, NOORDHOEK, 7979
Postal Address	P O BOX 608, NOORDHOEK, 7979
Current Tel Number	0217020721
Cell number	0832702499
Shareholding/Membership	100 %

Adverse Information forBRIAN LANTON Principal Judgement

Number of Judgements	1
Principal Debt Review
Debt review	No Information on Record
Other
Default data	No Information on Record

Business Information forBRIAN LANTON

Principal Current Business Interests

Average Age of Previous Business

Principal's Deeds Information - No information on record

Principal Previous Business Interests

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.29
UK Pound	1	Rs.81.08
Euro	1	Rs.70.61

INFORMATION DETAILS

Report Prepared by :

PDT

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	DELITE FOODS CC
Trading as/ Division Name
Previous Name	DELITE FOODS (PTY) LTD
Date of Name Change
Registration Number	M1990/005600/07
Registration Date	1990/09/18
Date Commenced Trading	1990-09-18
Age of Business	22 Years 6 Months
History of Business	The subject was established as a new business in 1990 and operations commenced immediately.
History of Principals	There is 1 active member within the business.
Shareholders/Members/Partners of subject and % holding	100 % - BRIAN LANTON
Authorised Share Capital	R 0.00
Issued Share Capital/Members Contribution	R 0.00
Status	Conversion CO/CC or CC/CO
Operations Assessment	Food sector
Industry/ Customers	Supermarket Chains, Shops
Export
Export Countries
Import	Yes
Import Countries	China,India
Major Industry Code / SICC	62110
Definition of Code	RETAIL TRADE IN NON-SPECIALISED STORES WITH FOOD,BEVERAGES AND TOBACCO PREDOMINATING
Head Office Physical Address	UNIT B, 43 BELL CRESCENT WESTLAKE BUSINESS PARK WESTLAKE, CAPE TOWN, 7460
Head Office Postal Address	PO BOX 617, NOORDHOEK, 7979
Current Tel Number	0217891885
Cell Number
Current Fax Number	0866819079
Current Email Address	anneline@capesa.co.za
Web Site Address	www.delitefoods.co.za
Comments