|
Report Date : |
07.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
World Class Connection Trading (Pty) Ltd |
|
|
|
|
Registered Office : |
183 Victoria
Street, George |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
14.07.2000 |
|
|
|
|
Com. Reg. No.: |
M2000/015862/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacture
of Machinery for Food, Beverage and Tobacco Processing |
|
|
|
|
No. of Employees : |
32 |
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 – 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 electicity 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 |
WORLD CLASS CONNECTION
TRADING (PTY)LTD |
|
Country |
South Africa |
|
Enquiry Terms |
COD |
|
Account Review |
Recommended Every 6
Months |
|
Subject Contact Person |
SEAN CHALMERS - Director |
|
Assessment |
This is a well-established
business. On investigation contact was made with the director MR. SEAN
CHALMERS who assisted with most of the information on the subject. The
subject does not have any local suppliers therefore trade references could
not be obtained. A bank code C was obtained for an amount of R 100 000 over a
period of 30 days. Please see the available information on the subject below. |
|
Registered
Name |
WORLD
CLASS CONNECTION TRADING (PTY)LTD |
|
Trading
as/ Division Name |
WORLD
CLASS CONNECTION TRADING |
|
Previous
Name |
None |
|
Date of
Name Change |
None |
|
Registration
Number |
M2000/015862/07 |
|
Registration
Date |
2000/07/14 |
|
Date
Commenced Trading |
2000-07-14 |
|
Age of
Business |
12 Years
9 Months |
|
History of
Business |
The
subject was established as a new business in 2000 and operations commenced
immediately. |
|
History
of Principals |
There
are 2 active directors within the business. |
|
Authorised
Share Capital |
R1000.00 |
|
Issued Share
Capital/Members Contribution |
R 50.00 |
|
Status |
In
Business |
|
Operations
Assessment |
The
subject processors and exports tobacco. |
|
Industry/
Customers |
Wholesalers
of tobacco |
|
Export |
Yes |
|
Major
Industry Code / SICC |
35750 |
|
Definition
of Code |
Manufacture
of machinery for food, beverage and tobacco processing |
|
Head
Office Physical Address |
183
Victoria Street, GEORGE |
|
Head
Office Postal Address |
P.O. BOX
2365, GEORGE, 6530 |
|
Current
Tel Number |
0448740528 |
|
Current
Fax Number |
0442793026 |
|
Current
Email Address |
|
Company Registered Name |
ANDREW DU TOIT CC |
|
Trading Name |
ANDREW DU TOIT |
|
Registration Number |
B2004/008048/23 |
|
Physical Address |
2 LUCAS DRIVE, HILLCREST,
3650 |
|
Postal Address |
P O BOX 187, BOTHAS HILL,
3660 |
|
Contact Person |
MARISA |
|
Contact Number |
0448745287 |
|
Email |
Unavailable |
|
Principals |
1 |
|
Judgements Against
Subject |
None on record |
|
Judgements Against
Principals |
None on record |
|
Subject Verified as
Client |
Yes |
|
Practice Number |
935069A |
|
VAT Number |
4910219601 |
|
Tax Number |
9015963151 |
|
Financial Year End |
February |
|
No of years in Business |
4 |
Previous Auditors
|
Company Name |
Phone Number |
Time with previous
auditors |
Comment |
|
PRICE WATERHOUSECOOPERS
INC |
-- |
Unknown |
-- |
|
SMITH AND OOSTHUYSEN |
-- |
Unknown |
-- |
|
ALICE LE ROUX |
-- |
8 |
-- |
|
Vat Number |
4580189639 |
|
Status |
ACTIVE |
|
Vat Liable Date |
2000/09/01 |
|
Tax Number |
9206144140 |
|
Financial Year End |
January |
Black
Economic Empowerment Information - No Information on Record
ISO
Information - No Information on Record
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
Subsidiaries
Information - No Information on Record
|
Employees |
|
|
Number
of Employees |
32 |
|
1.
Salaried employees |
32 |
|
2. Waged
employees |
-- |
|
3. Permanent
employees |
32 |
|
4.
Casual employees |
-- |
|
5.
Contracted employees |
-- |
|
Comment |
-- |
Company
Fleet Information - No Information on Record
Offices
|
Offices |
Offices |
|
Head Office Owned/ Rented |
Owned |
|
Owned by |
WORLD CLASS CONNECTION
TRADING(PTY)LTD |
|
Type of Premises |
Offices and Factory |
Branch
Information - No Information on Record
Organisational Chart - No
Information on
Record
Company Structure
(Ownership)
Note: One level up and all levels
down
|
Holding |
Company |
Sub |
Comment |
|
50 % - SEAN
CHALMERS |
WORLD
CLASS CONNECTION TRADING (PTY) LTD |
|
|
|
50 % - JOHANNES
NEL |
WORLD
CLASS CONNECTION TRADING (PTY) LTD |
|
|
Key Deals Signed within the
past 12 Months
|
Company |
Value |
Contact |
Comment |
|
-- |
-- |
-- |
The subject does not have
any local suppliers |
Trade
References Information - No Information on Record
Judgements
- No information on record
Business
Rescue - No Information on Record
Default
Listing - No information on record
Notarial
Bonds - No information on record
|
Bank |
FIRST NATIONAL BANK |
|
Branch |
GEORGE |
|
Brach Code |
250655 |
|
Bank Account Number |
62138691771 |
|
Type of Account |
CURRENT |
|
Account Name |
WORLD CLASS CONNECTION
TRADING(PTY)LD |
|
Overdraft Facilities |
None |
|
Bank Code |
C FOR R 100 000 |
|
Bank Comment |
The subject's bankers
consider them good for all business normal engagements |
Bank Code History – No Information on record
Previous Bank Account Information – No Information on record
Property
Interests for Company WORLD CLASS CONNECTION TRADING (PTY)LTD
|
Title
Deed No. |
T69689/2005 |
Erf/Site
No. |
-- |
|
Deeds
Office |
CAPE
TOWN |
Physical
Address |
OUDTSHOORN
OUDTSHOORN |
|
Property
Type |
Farms |
Extent /
Size |
1.8003H |
|
Purchase
Date |
2004/10/04 |
Purchase
price |
-- |
|
%
Ownership |
0.00 |
Bond
Holder |
A B S A
BANK LTD |
|
Bond
Number |
B927862005 |
Bond
Amount |
-- |
Financial
Estimates
|
CURRENT
ASSETS |
R
7300000.00 |
|
CURRENT
LIABILITIES |
R
6000000.00 |
|
Previous
Year Turnover |
R10600000.00 |
|
Estimated
Current Year Turnover |
R13000000.00 |
|
Current
Turnover per month |
R1400000.00 |
|
Current
Turnover per annum |
R16800000.00 |
|
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 |
2 |
|
Average Age of Active
Principals |
55 |
|
Active
Principals Principal
- 1 of 2 SEAN
CHALMERS |
|
|
Surname |
CHALMERS |
|
First Name |
SEAN |
|
Other Names |
None |
|
Marital Status |
Married |
|
ID Number |
6810086093180 |
|
Verified ID Number |
Yes |
|
Current Age |
45 |
|
Designation |
BUSINESSMAN |
|
Status |
Active |
|
Appointment Date |
2005/01/31 |
|
Physical Address (at time of Appointment) |
40 BARRIE ROAD,
GLENBARRIE, GEORGE, 6530 |
|
Postal Address |
40 BARRIE ROAD,
GLENBARRIE, GEORGE, 6530 |
|
Current Tel Number |
0448740627 |
|
Cell number |
0829922022 |
|
Shareholding/Membership |
50 % |
Principal’s Adverse – No Information on record
Business information for Sean Chalmers
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
WORLD CLASS CONNECTION
TRADING (PTY)LTD |
M2000/015862/07 |
In Business |
12 Years 9 Months |
0 |
No |
-- |
Principal Previous Business interests
Average Age of Previous Business 12
Years
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgments |
Liquidation |
Comment |
|
DENE
EXPORTS AND IMPORTS CC |
B1996/049929/23 |
In Business |
16 Years 6 Months |
0 |
No |
|
|
INTERNATIONAL
TOBACCO PURCHASING AGENCY
(AFRICA) CC |
B2000/055089/23 |
In Business |
12 Years 7 Months |
0 |
No |
|
|
WESTERN
CAPE TOBACCO (PTY)LTD |
M2002/016347/07 |
Deregistration Final |
10 Years 9 Months |
0 |
No |
|
Principal's
Deeds Information - No information on record
Principal
- 2 of 2
JOHANNES
NEL
|
Surname |
NEL |
|
First Name |
JOHANNES |
|
Other Names |
None |
|
Marital Status |
Married |
|
ID Number |
4806095080087 |
|
Verified ID Number |
Yes |
|
Current Age |
65 |
|
Designation |
SAKEMAN |
|
Status |
Active |
|
Appointment Date |
2000/07/14 |
|
Physical Address (at time
of Appointment) |
35 VAN DER RIETSTREET,
OUDTSHOORN, 6620 |
|
Postal Address |
P O BOX 46, WESTBANK,
OUDTSHOORN, 6620 |
|
Current Tel Number |
0442725897 |
|
Cell number |
0824925219 |
|
Shareholding/Membership |
50 % |
Principal’s Adverse – No Information on record
Business Information for Johannes Net
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
WORLD CLASS CONNECTION
TRADING (PTY)LTD |
M2000/015862/07 |
In Business |
12 Years 9 Months |
0 |
No |
|
|
SOUTH AFRICAN TOBACCO
EXPORT SERVICES CC |
B2000/057488/23 |
In Business |
12 Years 7 Months |
0 |
No |
|
Principal's
Deeds Information - No information on record
Principal
Previous Business Interests
Average Age of Previous Business 40
Years
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
H S SPIES EN BROERS
(PTY)LTD |
M1948/030719/07 |
Deregistration
Process |
64 Years 8 Months |
0 |
No |
|
|
TABAK
RSA |
M1996/017805/08 |
Deregistration
Final |
16
Years 4 Months |
0 |
No |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.95 |
|
UK Pound |
1 |
Rs.70.50 |
|
Euro |
1 |
Rs.83.81 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.