|
Report Date : |
15.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
TRADED
RAW MATERIALS (PTY)LTD |
|
|
|
|
Registered Office : |
CNR
Kassier & J.B. Mlintosh, Shongweni, Pinetown, 3624 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
09.03.2011 |
|
|
|
|
Com. Reg. No.: |
M2011/005566/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Wholesale
trade in agricultural raw materials and livestock |
|
|
|
|
No. of Employees : |
11 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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; 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 Unemployment remains high and outdated infrastructure has constrained growth.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
|
Subject
Name |
TRADED
RAW MATERIALS (PTY)LTD |
|
Country |
South
Africa |
|
Requested
Credit Limit |
$
15000000.00 |
|
Enquiry
Terms |
COD |
|
Account
Review |
Recommended
Every 6 Months |
|
Subject
Contact Person |
JAMES
SIMPSON - 0317692930 |
|
Assessment |
This is a
well-established and well -connected business. On investigation contact was
made with the Director JAMES SIMPSON. Awaiting further Trade References.
Please the available information on the subject below. |
|
Registered
Name |
TRADED
RAW MATERIALS (PTY)LTD |
|
Trading
as/ Division Name |
None |
|
Previous
Name |
None |
|
Date of
Name Change |
Jul 18
2011 12:00AM |
|
Registration
Number |
M2011/005566/07 |
|
Registration
Date |
2011/03/09 |
|
Date
Commenced Trading |
2011-03-09 |
|
Age of
Business |
2 Years |
|
History
of Business |
The
subject was established as a new business in 2011 an operations commenced
immediately. |
|
History
of Principals |
None |
|
Shareholders/Members/Partners
of subject and % holding |
30 % - GORDON SIMPSON, 30 % - FREDERICK
NEILANDS, 40 % - JAMES SIMPSON |
|
Authorised
Share Capital |
R1000.00 |
|
Issued
Share Capital/Members Contribution |
R 100.00 |
|
Status |
In
Business |
|
Operations
Assessment |
Manufacture
raw material |
|
Industry/
Customers |
Whoesalers |
|
Export |
|
|
Export
Countries |
|
|
Import |
Yes |
|
Import
Countries |
China,India |
|
Major
Industry Code / SICC |
61210 |
|
Definition
of Code |
Wholesale
trade in agricultural raw materials and livestock |
|
Head
Office Physical Address |
CNR Kassier & J.B. Mlintosh, SHONGWENI,
PINETOWN, 3624 |
|
Head
Office Postal Address |
P O BOX
33024, HILLCREST, 3610 |
|
Current
Tel Number |
0317692930 |
|
Cell
Number |
None |
|
Current
Fax Number |
0317692054 |
|
Current
Email Address |
None |
|
Web Site
Address |
None |
|
Comments |
The
address provided by the director namely : 271 KENYON HOWDEN ROAD, MONCLAIR,
Western Cape, 4011, belongs to the subjects auditor. |
|
Company Registered Name |
CASSIDY AND ASSOCIATES CC |
|
Trading Name |
|
|
Registration Number |
B1996/059905/23 |
|
Physical Address |
271 KENYON HOWDEN ROAD,
MONTCLAIR, 4011 |
|
Postal Address |
P O BOX 33024, MONTCLAIR,
4061 |
|
Contact Person |
KEVIN |
|
Contact Number |
0314629292 |
|
Email |
|
|
Principals |
1 |
|
Judgements Against
Subject |
NONE |
|
Judgements Against
Principals |
NONE |
|
Subject Verified as
Client |
Yes |
|
Practice Number |
121984 |
|
VAT Number |
4770163048 |
|
Tax Number |
9200096205 |
|
BEE Status |
|
|
Financial Year End |
February |
|
No of years in Business |
2 |
|
Website |
NONE |
|
Comment |
|
|
Company Name |
Phone
Number |
Time with previous auditors |
Comment |
|
DOUGLASDIX-PEEK |
|
2 |
|
|
Vat
Number |
4170258802 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
|
|
Tax
Number |
9806412152 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
DECEMBER |
|
Comment |
|
Black
Economic Empowerment Information - No Information on
Record
ISO Information - No Information on Record
Workman's
compensation
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
|
Comment |
|
Company
Structure
Subsidiaries
|
Subsidiary
Company |
TEXTILE
(PTY) LTD |
|||
|
Shareholding |
60%
TRADED RAW MATERIAL (PTY) LTD |
|||
|
Registration
Number |
|
|||
|
Import /
Export |
|
|||
|
Comment |
|
|||
|
Employees |
||||
|
Number
of Employees |
11 |
|||
|
1.
Salaried employees |
11 |
|||
|
2. Waged
employees |
|
|||
|
3.
Permanent employees |
11 |
|||
|
4.
Casual employees |
|
|||
|
5.
Contracted employees |
|
|||
|
Comment |
|
|||
|
Company Fleet |
||||
|
Company
Fleet |
No of
vehicles: |
Ownerd/Leased |
Value |
Outstanding
Balance |
|
Fleet
Operations |
|
|
|
|
|
The
Fleet is made up of |
2 |
|||
|
Comment |
|
|||
|
Light
delivery Vehicles |
2 Owned |
|||
Offices
|
Offices |
Offices |
|
Head Office Owned/ Rented |
Leased |
|
Rental Company |
RENT |
|
Owned by |
INVESTMENT PROPERTIES |
|
Value |
|
|
Bond |
|
|
Bank |
|
|
Lease Agreement |
5 YEARS |
|
Lease Expire Date |
|
|
Type of Premises |
WAREHOUSE |
|
Comment |
|
Branch
Information - No Information on Record
Management
Overview
Organisation Chart
|
Level |
Position |
Name |
Comment |
1 I DIRECTOR I GORDON
|
1 I DIRECTOR I FREDERICK NEILANDS |
|
1 I DIRECTOR I JAMES
SIMPSON |
Company
Structure (Ownership)
Note:
One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
40%
JAMES SIMPSON |
TRADED
RAW MATERIAL (PTY) LTD |
|
|
|
30%
GORDON SIMPSO |
TRADED
RAW MATERIALS (PTY) LTD |
|
|
|
30%
FREDERICK NEILANDS |
TARDED
RAW MATERIAL (PTY) LTD |
|
|
Key
Deals - No Information on Record
Trade
References
|
Trade
Reference nr |
Supplier |
Contact |
Surety Value |
Notarial
Bonds |
Comment |
|
1 |
PAPELA FREIGHT |
0313323563 |
|||
|
2 |
WORLD TRUCK FACT |
0317005725 |
|
|
|
|
3 |
EXPRESS TRADE |
0317055290 |
|||
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
|
Bank |
ABSA |
|
Branch |
PINETOWN |
|
Brach
Code |
632005 |
|
Bank
Account Number |
4078064765 |
|
Type of
Account |
CURRENT |
|
Account
Name |
TRADED
RAW MATERIALS (PTY) LTD |
|
Overdraft
Facilities |
YES |
|
Bank
Code |
C FOR R
1 500 000 |
|
Bank
Comment |
The
subject's bankers consider them good for all business normal engagement. |
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 |
3 |
|
Average
Age of Active Principals |
54 |
|
Active
Principals Principal
- 1of 3 GORDON SIMPSON |
|
|
Surname |
SIMPSON |
|
First
Name |
GORDON |
|
Other
Names |
|
|
Marital
Status |
|
|
ID
Number |
5105135102087 |
|
Verified
ID Number |
Yes |
|
Current
Age |
62 |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2011/03/23 |
|
Physical
Address (at time of Appointment) |
41
SHORTLANDS AVENUE, HILLCREST, 3650 |
|
Postal
Address |
41
SHORTLANDS AVENUE, HILLCREST, 3650 |
|
Current
Tel Number |
0317692930 |
|
Cell
number |
0823757752 |
|
Shareholding/Membership |
30 % |
Principal's
Adverse - No information on record
Business
Information forGORDON SIMPSON
Principal
Current Business Interests
|
Company
Name |
Registration No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
TEXTILE
RAW MATERIAL AGENCIES (PTY)LTD |
M1999/011497/07 |
In Business |
13 Years
9 Months |
0 |
No |
|
|
TRADED RAW MATERIALS (PTY)LTD |
M2011/005566/07 |
In Business |
2 Years |
0 |
No |
|
Principal
Previous Business Interest
Average Age of Previous Business I 23 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
SARDINE FEVER CC |
B1987/020852/23 |
Deregistration Final |
25 Years 6 Months |
0 |
No |
|
|
SIMCO TRADING CC |
B1990/028621/23 |
Deregistration Final |
22 Years 6 Months |
0 |
No |
|
Principal's Deeds Information - No information on record
|
Principal
- 2of 3 FREDERICK NEILANDS |
|
|
Surname |
NEILANDS |
|
First
Name |
FREDERICK |
|
Other
Names |
|
|
Marital
Status |
|
|
ID
Number |
4607195045180 |
|
Verified
ID Number |
Yes |
|
Current
Age |
67 |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2011/03/23 |
|
Physical
Address (at time of Appointment) |
4
ZIMBALI RIDGE, ZIMBALI COASTAL FOREST ESTATE, BALLITO, 3610 |
|
Postal
Address |
P.O BOX
709, NEW GERMANY, 3610 |
|
Current
Tel Number |
0317692930 |
|
Cell
number |
0825661397 |
|
Shareholding/Membership |
30 % |
Principal's
Adverse - No information on record
Business
Information forFREDERICK NEILANDS
Principal
Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
R
NIELANDS |
4607195045107 |
|
Unknown |
0 |
No |
|
|
NEOVISTA PROPERTIES (PTY)LTD |
M2000/021959/07 |
In Business |
12 Years
7 Months |
0 |
No |
|
|
TRADED RAW MATERIALS (PTY)LTD |
M2011/005566/07 |
In Business |
2 Years |
0 |
No |
|
Principal
Previous Business Interests
Average Age of Previous Business I 14 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
NO 317 BRACHENWOOD
VILLAGE (PTY)LTD |
M1997/021124/07 |
Deregistration Final |
15 Years 3 Months |
0 |
No |
|
|
TEXTILE
RAW MATERIAL AGENCIES (PTY)LTD |
M1999/011497/07 |
In
Business |
13 Years 9 Months |
0 |
No |
|
Principal's Deeds Information - No information on record
|
Principal
- 3of 3 JAMES SIMPSON |
|
|
Surname |
SIMPSON |
|
First
Name |
JAMES |
|
Other
Names |
|
|
Marital
Status |
|
|
ID
Number |
7805275024086 |
|
Verified
ID Number |
Yes |
|
Current
Age |
35 |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2011/03/23 |
|
Physical
Address (at time of Appointment) |
2 CLIFF
ROAD, HILLCREST, 3610 |
|
Postal
Address |
P.O BOX
6310, NEW GERMANY, 3610 |
|
Current
Tel Number |
0317692930 |
|
Cell
number |
0828769924 |
|
Shareholding/Membership |
40 % |
Principal's Adverse - No information on record
Business Information forJAMES SIMPSON
Principal
Current Business Interests
|
Company
Name |
Registration No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
TRADED RAW MATERIALS (PTY)LTD |
M2011/005566/07 |
In Business |
2 Years |
0 |
No |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.44 |
|
|
1 |
Rs.81.33 |
|
Euro |
1 |
Rs.70.50 |
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.