|
Report Date : |
15.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
PROGROW PRODUCTS (PTY)LTD |
|
|
|
|
Formerly Known As : |
GHT PRODUCTS |
|
|
|
|
Registered Office : |
Unit 2 Plankenpark, 5 Linton Street, Plankenberg, Stellenbosch Western
Cape, 7600 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
16.10.2008 |
|
|
|
|
Com. Reg. No.: |
M2008/024445/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
The company is involved in the import and retail of cocopeat and coir fibres to nurseries, horticulturists, market gardeners and professional landscapers. |
|
|
|
|
No. of Employees : |
10 |
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 |
PROGROW PRODUCTS PTY LTD |
|
Country |
South Africa |
|
Subject Contact Person |
GERHARD-Manager |
|
Assessment |
This is a new family owned business. On investigation, contact was made with Gerhard, the manager at the company. The company has been in operation for more than a year. No adverse information was revealed during the investigation. A bank code could not be obtained as the banking details were not made available. Please see the information obtained below. |
|
Registered Name |
PROGROW PRODUCTS (PTY)LTD |
|
Trading as/ Division Name |
None |
|
Previous Name |
GHT PRODUCTS |
|
Date of Name Change |
Aug 23 2012 12:00AM |
|
Registration Number |
M2008/024445/07 |
|
Registration Date |
2008/10/16 |
|
Date Commenced Trading |
December 2011 |
|
Age of Business |
1 Year 5 Months |
|
History of Business |
PROGROW PRODUCTS (PTY)LTD was registered in October 2008 and later underwent a name change from GHT PRODUCTS in August 2012 to the current name. Operations only commenced in December 2011 |
|
History of Principals |
There are currently two active directors |
|
Shareholders/Members/Partners of subject and % holding |
GERHARD VAN NIEKERK TONI-LEE VAN NIEKERKThe shareholding structure was not made available |
|
Authorised Share Capital |
R1000.00 |
|
Issued Share Capital/Members Contribution |
R 100.00 |
|
Status |
In Business |
|
Operations Assessment |
The company is involved in the import and retail of cocopeat and coir fibres to nurseries, horticulturists, market gardeners and professional landscapers. Products include starter,husk chip and growing mix, Planter and grow bags,Coconut husk chips etc. |
|
Industry/ Customers |
Agricultural and Environmental sector |
|
Export |
None |
|
Import |
Yes |
|
Import Countries |
India,Sri Lanka |
|
Major Industry Code / SICC |
31114 |
|
Definition of Code |
Spinning, weaving and finishing of yarns & fabrics of vegetable
fibres |
|
Head Office Physical Address |
UNIT 2 PLANKENPARK, 5 LINTON STREET, PLANKENBERG, STELLENBOSCH WESTERN
CAPE, 7600 |
|
Head Office Postal Address |
PO Box 74, Stellenbosch, 7599 |
|
Current Tel Number |
021 8872183 |
|
Cell Number |
072 730 4916 |
|
Current Fax Number |
0865201111 |
|
Current Email Address |
|
|
Web Site Address |
|
Company Registered Name |
LSG INTEGRATED ACCOUNTING SERVICES CC |
|
Trading Name |
LSGINTEGRATED |
|
Registration Number |
B2003/074229/23 |
|
Physical Address |
6 Kikuyu Road,Sunninghill,2157 |
|
Postal Address |
P 0 BOX 457, RIVONIA, 2128 |
|
Contact Number |
011 253 7400 |
|
Email |
|
|
Principals |
2 |
|
Judgements Against Subject |
1 |
|
Judgements Against Principals |
6 |
|
Subject Verified as Client |
Yes |
|
Practice Number |
955361 |
|
VAT Number |
Undisclosed |
|
Tax Number |
9191541177 |
|
BEE Status |
Undisclosed |
|
Financial Year End |
February |
|
No of years in Business |
Unknown |
|
Website |
Previous Auditors Information - No Information on Record
|
Vat Number |
4340260811 |
|
Status |
ACTIVE |
|
Tax Number |
9191541177 |
|
Financial Year End |
February |
|
Status |
No |
|
Score |
9.00 |
|
BEE Certificate Available |
No |
|
|
|
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ISO Information - No Information on Record |
|
|
Registered |
Yes |
|
Compliance Certified |
Yes |
|
Comment |
|
Subsidiaries
|
Subsidiary Company |
There are no reported subsidiaries |
|||
|
Employees |
||||
|
Number of Employees |
10 |
|||
|
1. Salaried employees |
10 |
|||
|
Company Fleet |
||||
|
Company Fleet |
No of vehicles: |
Owned/Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is made up of |
|
|||
|
Comment |
All vehicles are privately owned |
|||
|
Cars |
|
Leased |
|
|
|
Offices |
Offices |
|
|
Head Office Owned/ Rented |
Leased |
|
|
Rental Company |
GROWTH POINT PROPERTIES |
|
|
Lease Agreement |
Long Term lease agreement(5 Years) |
|
|
Type of Premises |
Office and depot |
|
|
Comment |
|
|
|
Branch
Information |
||
|
Branches Names |
Country |
Province |
|
Progrow -Gauteng Depot |
South Africa |
Gauteng |
Branch Detail
Information
|
Branches Owned/ Rented |
Leased |
|
Rental Company |
Growth Point |
|
Lease Agreement |
Long term |
|
Type of Premises |
Office and a depot |
|
Comment |
Unit 39, Kya Sand North Park, Bernie Street, Kya Sand |
Organisation Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
Chief Executive Officer |
Gerhard van Niekerk |
|
Company Structure Information - No Information on Record
Note: One level up and all
levels down
Key Deals - No Information on Record
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
|
1 |
GROWTHPOINT |
0119446000 |
|
|
|
|
2 |
MTN |
0837057171 |
|
|
|
|
3 |
ROHLIG GRINDROD |
0219340337 |
|
|
|
|
4 |
Oryx Logistics (Pty) Ltd |
0115160204 |
|
|
Telephone line
not in working order |
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
1 Year |
R0.00 |
R0 |
30 days |
|
30 days |
The subject
rents from GrowthPoint |
|
2 |
|
|
|
|
|
|
Against company
policy to provide references |
|
3 |
|
|
|
|
|
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No record of account |
|
4 |
|
|
|
|
|
|
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Judgements
|
Judgements |
None |
||||
|
Possible Judgements |
None |
||||
|
Civil Court |
None |
||||
|
RDs |
No Information on Record |
||||
|
Comment |
No Information on Record |
||||
|
Business Rescue |
|||||
|
Date registered |
Business rescue practitioner |
Contact Information |
Details |
Comment |
|
|
|
None |
No Information on Record |
No Information
on Record |
No Information on Record |
|
Default Listings
|
Date |
Details |
Comment |
|
|
None |
No Information on Record |
|
Notarial Bonds |
||
|
Date |
Details |
Comment |
|
|
None |
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
Deeds Information - No information on record
|
Number of Principals |
2 |
|
Average Age of Active Principals |
63 |
Active Principals
Principal - 1of 2 GERHARD VAN NIEKERK
|
Surname |
VAN NIEKERK |
|
First Name |
GERHARD |
|
Other Names |
None |
|
Marital Status |
Married |
|
ID Number |
4309295047089 |
|
Verified ID Number |
Yes |
|
Current Age |
70 |
|
Designation |
RETIRED BUSINESSMAN |
|
Status |
Active |
|
Appointment Date |
2011/11/22 |
|
Physical Address (at time of Appointment) |
3 ROWAN STREET, MOSTERTSDRIF, STELLENBOSCH, WESTERN CAPE, 7600 |
|
Postal Address |
3 ROWAN STREET, MOSTERTSDRIF, STELLENBOSCH, WESTERN CAPE, 7600 |
|
Current Tel Number |
0215092003 |
|
Cell number |
0824618423 |
|
Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information for
GERHARD VAN NIEKERK
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
OLD MUTUAL LIFE HOLDINGS (SOUTH AFRICA)
LTD |
M1998/012277/06 |
In Business |
14 Years 11 Months |
0 |
No |
|
|
OLD MUTUAL LIFE ASSURANCE COMPANY (SOUTH
AFRICA) LTD |
M1999/004643/06 |
In Business |
14 Years |
2 |
No |
|
|
FINFOCUS FINANCIAL PLANNERS (PTY) LTD |
M2003/003226/07 |
In Business |
10 Years 3 Months |
0 |
No |
|
|
PROGROW PRODUCTS (PTY) LTD |
M2008/024445/07 |
In Business |
4 Years 7 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 18 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
||||||
|
OMIOPT LTD |
1997/005936/06 |
In Business |
16 Years 1 Months |
0 |
No |
|
||||||
|
TAAIBOSCHPAN LANDGOED CC |
B1990/005237/23 |
In Business |
23 Years 3 Months |
0 |
No |
|
||||||
|
ASHTREE INVESTMENTS LTD |
M1984/002604/06 |
Dissolved |
29 Years 2 Months |
0 |
No |
|
||||||
|
FAIRBAIRN INVESTMENT HOLDINGS S A (PTY) LTD |
M1986/000086/07 |
Dissolved |
27 Years 4 Months |
0 |
No |
|
||||||
|
BOE INVESTMENT HOLDINGS LTD |
M1987/003281/06 |
In Business |
25 Years 10 Months |
0 |
No |
|
||||||
|
TRANSNET LTD |
M1990/000900/06 |
In Business |
23 Years 3 Months |
12 |
No |
|
||||||
|
OLD MUTUAL HEALTH INSURANCE LTD |
M1990/001350/06 |
In Business |
23 Years 2 Months |
0 |
No |
|
||||||
|
RODINA
INVESTMENTS (PTY) LTD |
M1993/001904/07 |
In Business |
20 Years 1 Months |
0 |
No |
|
||||||
|
OLD MUTUAL FINANCE (PTY) LTD |
M1993/002279/07 |
In Business |
20 Years 1 Months |
0 |
No |
|
||||||
|
AID FOR AIDS MANAGEMENT (PTY) LTD |
M1993/002281/07 |
In Business |
20 Years 1 Months |
0 |
No |
|
||||||
|
OLD MUTUAL INVESTMENT GROUP (SOUTH AFRICA)
(PTY) LTD |
M1993/003023/07 |
In Business |
19 Years 11 Months |
0 |
No |
|
||||||
|
THE INVESTMENT DEVELOPMENT UNIT (PTY) LTD |
M1993/003765/07 |
Deregistration Final |
19 Years 10 Months |
0 |
No |
|
||||||
|
PEOPLES MORTGAGE LTD |
M1994/000929/06 |
In Business |
19 Years 3 Months |
0 |
No |
|
||||||
|
OLD MUTUAL BERMUDA HOLDINGS (SA) (PTY)LTD |
M1995/007618/07 |
Dissolved |
17 Years 10 Months |
0 |
No |
|
||||||
|
IBL ASSET FINANCE AND SERVICES LTD |
M1995/012641/06 |
In Business |
17 Years 6 Months |
1 |
No |
|
||||||
|
OLD MUTUAL INVESTMENT SERVICES (PTY) LTD |
M1996/000452/07 |
In Business |
17 Years 4 Months |
0 |
No |
|
||||||
|
OLD MUTUAL PROPERTY (PTY)LTD |
M1996/011259/07 |
In Business |
16 Years 9 Months |
0 |
No |
|
||||||
|
OLD MUTUAL GROUP ACHIEVEMENTS LTD |
M1997/001163/06 |
Dissolved |
16 Years 4 Months |
0 |
No |
|
||||||
|
OLD MUTUAL TECHNOLOGY HOLDINGS (PTY)LTD |
M1997/005949/07 |
In Business |
16 Years 1 Months |
0 |
No |
|
||||||
|
LINX HOLDINGS (PTY) LTD |
M1997/010060/07 |
In Business |
15 Years 11 Months |
0 |
No |
|
||||||
|
OLD MUTUAL SPECIALISED FINANCE (PTY) LTD |
M1998/013266/07 |
In Business |
14 Years 10 Months |
0 |
No |
|
||||||
|
OLD MUTUAL FUND ADMINISTRATION SERVICES
(PTY)LTD |
M1999/004377/07 |
In Business |
14 Years 2 Months |
0 |
No |
|
||||||
|
OLD MUTUAL CAPITAL HOLDING (PTY)LTD |
M1999/011669/07 |
In Business |
13 Years 11 Months |
0 |
No |
|
||||||
|
THE LIFE OFFICES ASSOCIATION OF SOUTH AFRICA |
M1999/024277/08 |
Deregistration Final |
13 Years 7 Months |
0 |
No |
|
||||||
|
ELTANZA INVESTMENTS (PTY) LTD |
M2002/006701/07 |
In Business |
11 Years 2 Months |
0 |
No |
|
||||||
Principal's Deeds Information - No information on record
Principal - 2of 2
AMELIA VAN NIEKERK
|
Surname |
VAN NIEKERK |
|
First Name |
AMELIA |
|
Other Names |
None |
|
Marital Status |
Married |
|
ID Number |
5609300046086 |
|
Verified ID Number |
Yes |
|
Current Age |
57 |
|
Designation |
FINANCIAL ADVISOR |
|
Status |
Active |
|
Appointment Date |
2011/11/22 |
|
Physical Address (at time of Appointment) |
4 BLENHEIM ROAD, DIE BOORD, STELLENBOSCH, WESTERN CAPE, SOUTH AFRICA,
7600 |
|
Postal Address |
P O BOX 1492, STELLENBOSCH, WESTERN CAPE, SOUTH AFRICA, 7599 |
|
Current Tel Number |
0218617000 |
|
Cell number |
0828200332 |
|
Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information for
AMELIA VAN NIEKERK
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
FINFOCUS FINANCIAL PLANNERS (PTY) LTD |
M2003/003226/07 |
In Business |
10 Years 3 Months |
0 |
No |
|
|
BRASHVILLE PROPERTIES 42 (PTY) LTD |
M2006/022513/07 |
In Business |
6 Years 10 Months |
0 |
No |
|
|
PROGROW PRODUCTS (PTY) LTD |
M2008/024445/07 |
In Business |
4 Years 7 Months |
0 |
No |
|
Principal's Deeds Information
- No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
|
UK Pound |
1 |
Rs.83.67 |
|
Euro |
1 |
Rs.71.02 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.