|
Report Date : |
15.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
WHEEL CASH AND CARRY CC |
|
|
|
|
Registered Office : |
80 Melbourne road, Durban,4001 |
|
|
|
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Country : |
South Africa |
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Date of Incorporation : |
15.11.1989 |
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|
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Com. Reg. No.: |
B1989/037085/23 |
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|
|
|
Legal Form : |
Closed Corporation |
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Line of Business : |
Wholesale trade in foodstuffs |
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|
|
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 |
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|
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Payment Behaviour : |
Unknown |
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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 |
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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 |
WHEEL CASH & CARRY CC |
|
Country |
South Africa |
|
Subject Contact Person |
M VALJEE-MEMBER |
|
Assessment |
This is a well-established family business. On investigation, contact was made with the member at the company, M VALJEE. The company has been in operation for more than 23 years. All commitments are met timeously. No adverse information was revealed during the investigation. Financial estimates and banking details were not made available. Please see the information obtained below. |
|
Registered Name |
WHEEL CASH AND CARRY CC |
|
Trading as/ Division Name |
JUMBOS PREPACKERS |
|
Previous Name |
None |
|
Date of Name Change |
None |
|
Registration Number |
B1989/037085/23 |
|
Registration Date |
1989/11/15 |
|
Date Commenced Trading |
November 1989 |
|
Age of Business |
23 Years 6 Months |
|
History of Business |
WHEEL CASH AND CARRY CC was registered in
November 1989 |
|
History of Principals |
There are currently three active members |
|
Shareholders/Members/Partners of subject and % holding |
JERUSHA VALJEE 10%DIPTESH VALJEE
45%MAMOONA VALJEE 45% |
|
Authorised Share Capital |
R0.00 |
|
Issued Share Capital/Members Contribution |
R 100.00 |
|
Status |
In Business |
|
Operations Assessment |
The company is involved in the import of dry food products such as rice, sugar beans and sugar .The products are repacked under house brand names such as Golden Penny Rice, Golden Star Rice, Golden Pearl Rice, Jumbo's Sugar, Jumbo's Yellow Maize and Jumbo's Sugar Beans |
|
Industry/ Customers |
Food retailers and supermarkets |
|
Export |
None |
|
Export Countries |
Brazil,China,Thailand |
|
Import |
Yes |
|
Import Countries |
India |
|
Major Industry Code / SICC |
61221 |
|
Definition of Code |
Wholesale trade in foodstuffs |
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Head Office Physical Address |
80 Melbourne road, Durban,4001 |
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Head Office Postal Address |
P O BOX 40417, REDHILL, 4071 |
|
Current Tel Number |
031 304 5798 |
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Cell Number |
083 2781064/071 6885222/0824691973 |
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Current Fax Number |
031 304 3300 |
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Current Email Address |
|
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Web Site Address |
|
|
Comments |
Previous address:2 BEATRICE STREET, DURBAN, 4001 |
|
Company Registered Name |
GARACH AND GARACH |
|
Trading Name |
None |
|
Registration Number |
None |
|
Physical Address |
80 Armstrong Avenue, La Lucia, Durban,4051 |
|
Postal Address |
P.O. Box 800,Umhlanga,4320 |
|
Contact Person |
KIRAN GARACH |
|
Contact Number |
031 5724000 |
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Email |
|
|
Principals |
5 |
|
Judgements Against Subject |
No information found on file |
|
Judgements Against Principals |
No information found on file |
|
Subject Verified as Client |
Yes |
|
Practice Number |
No information found on file |
|
No of years in Business |
Unknown |
Previous Auditors Information - No Information on Record
|
Vat Number |
4450131562 |
|
Status |
ACTIVE |
|
Vat Liable Date |
1992/04/01 |
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Tax Number |
9334084200 |
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Financial Year End |
February |
|
Comment |
TAX NUMBER 4450131562 is registered in the name of JUMBOS SUPERMARKET |
|
Status |
Yes |
|
Score |
2.00 |
|
BEE Certificate Available |
Yes |
|
Type of ISO Grade |
|
|
ISO Certificate |
|
|
ISO Certificate Available |
|
|
Certified by an Accredited Agent |
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Comment |
|
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Registered |
Yes |
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Compliance Certified |
Yes |
Subsidiaries Information - No Information on Record
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Employees |
|
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Number of Employees |
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1. Salaried employees |
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2. Waged employees |
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3. Permanent employees |
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4. Casual employees |
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5. Contracted employees |
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Comment |
|
Company Fleet
|
Company Fleet |
No of vehicles: |
Owned/Leased |
Value |
Outstanding Balance |
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Fleet Operations |
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The Fleet is made up of |
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|||
|
Comment |
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Offices |
Offices |
Organisation Chart
|
Level |
Position |
Name |
Comment |
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|||
|
1 |
Managing Member |
MAMOONA VALJEE |
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|
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|||
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2 |
Managing Member |
DIPTESH VALJEE |
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|||
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3 |
Member |
JERUSHA VALJEE |
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Key Deals - No Information on Record
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
|
1 |
Tropic Plastic
& Packaging Industry (Pty) Ltd |
031 468 1534 |
|
|
|
|
3 |
Flex-O-Thene Plastics (Pty) Ltd |
031 507 7061 |
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|
|
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2 |
Flexible
Plastics and Packaging |
031 304 1332 |
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|
|
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
8 years |
|
R 500000 |
30 days |
R100000 |
30-40 days |
Extensions not
considered a problem,no credit limit |
|
3 |
10 years |
|
R 250000 |
30 days |
R100000 |
30 days |
Good account,
the client enjoys a 2% settlement
discount. No credit limit |
|
2 |
8 years |
|
R 300000 |
30 days |
R100000 |
30 days |
No credit limit, good account |
Judgements
|
Judgements |
None |
|
Possible Judgements |
None |
|
Civil Court |
None |
|
RDs |
0 |
|
Comment |
No Information on Record |
|
Business Rescue |
||||
|
Date registered |
Business rescue practitioner |
Contact Information |
Details |
Comment |
|
|
No information found on file |
No Information on Record |
No Information
on Record |
No Information on Record |
Default Listings
|
Date |
Details |
Comment |
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|
No information found on file |
No Information on Record |
|
Notarial Bonds |
||
|
Date |
Details |
Comment |
|
|
No information found on file |
No Information on Record |
Bank Code History - No Information on Record
Previous Bank Account Information - No Information on Record
Property Interests for Company WHEEL CASH & CARRY CC
|
Title Deed No. |
T20050/2012 |
Erf/Site No. |
|
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
96 SYLVESTER NTULI NORTH BEACH DURBAN |
|
Property Type |
Freehold |
Extent / Size |
8701.0SQM |
|
Purchase Date |
2012/02/13 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
NEDBANK LIMITED |
|
Bond Number |
B114452012 |
Bond Amount |
|
|
Number of Principals |
3 |
|
Average Age of Active Principals |
46 |
Active Principals Principal
- 1of 3 JERUSHA VALJEE
|
Surname |
VALJEE |
|
First Name |
JERUSHA |
|
Other Names |
None |
|
Marital Status |
Single |
|
ID Number |
7608090039085 |
|
Verified ID Number |
Yes |
|
Current Age |
37 |
|
Designation |
Member |
|
Status |
Active |
|
Appointment Date |
2001/09/20 |
|
Physical Address (at time of Appointment) |
476 PARK STATION ROAD, GREENWOOD PARK, 4051 |
|
Postal Address |
476 PARK STATION ROAD, GREENWOOD PARK, 4051 |
|
Current Tel Number |
0312098667 |
|
Cell number |
0832781064 |
|
Shareholding/Membership |
10.0000 |
Principal's Adverse - No information on record
Business Information forJERUSHA VALJEE
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
WHEEL
CASH AND CARRY CC |
B1989/037085/23 |
In Business |
23 Years 6 Months |
0 |
No |
|
|
HIAAATH
CASH AND CARRY CC |
B1999/068541/23 |
In Business |
13 Years 5 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 9
Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
H MV
PREPACKERS CC |
B2002/063356/23 |
Deregistration Final |
10 Years 9 Months |
0 |
No |
|
|
VALJEE PROPERTY CC |
B2004/112291/23 |
In Business |
8 Years 7 Months |
0 |
No |
|
Principal's Deeds
Information - No information on record
Principal - 2of 3
DIPTESH VALJEE
|
Surname |
VALJEE |
|
First Name |
DIPTESH |
|
Other Names |
None |
|
Marital Status |
Married |
|
ID Number |
7308185063088 |
|
Verified ID Number |
Yes |
|
Current Age |
40 |
|
Designation |
Invalid Code |
|
Status |
Active |
|
Appointment Date |
1993/06/07 |
|
Physical Address (at time of Appointment) |
476 PARK STATION ROAD, GREENWOODPARK, 4051 |
|
Postal Address |
476 PARK STATION ROAD, GREENWOODPARK, 4051 |
|
Current Tel Number |
0313045798 |
|
Cell number |
0824691873 |
|
Shareholding/Membership |
45.0000 |
Principal's Adverse - No information on record
Business
Information for DIPTESH VALJEE
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
WHEEL
CASH AND CARRY CC |
B1989/037085/23 |
In Business |
23 Years 6 Months |
0 |
No |
|
|
HIAAATH
CASH AND CARRY CC |
B1999/068541/23 |
In Business |
13 Years 5 Months |
0 |
No |
|
|
VALJEE
PROPERTY CC |
B2004/112291/23 |
In Business |
8 Years 7 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 10
Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
H MV
PREPACKERS CC |
B2002/063356/23 |
Deregistration Final |
10 Years 9 Months |
0 |
No |
|
Principals Deeds
Information - No information on record
Principal - 3of 3
MAMOONA VALJEE
|
Surname |
VALJEE |
|
First Name |
MAMOONA |
|
Other Names |
None |
|
Marital Status |
Widowed |
|
ID Number |
5005150106080 |
|
Verified ID Number |
Yes |
|
Current Age |
63 |
|
Designation |
Invalid Code |
|
Status |
Active |
|
Appointment Date |
1989/11/15 |
|
Physical Address (at time of Appointment) |
476 PARK STATION ROAD, GREENWOODPARK, 4051 |
|
Postal Address |
476 PARK STATION ROAD, GREENWOODPARK, 4051 |
|
Current Tel Number |
0313093577 |
|
Shareholding/Membership |
45.0000 |
Principal's Adverse - No information on record
Business
Information for MAMOONA VALJEE
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
WHEEL
CASH AND CARRY CC |
B1989/037085/23 |
In Business |
23 Years 6 Months |
0 |
No |
|
|
HIAAATH
CASH AND CARRY CC |
B1999/068541/23 |
In Business |
13 Years 5 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 10
Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
H MV
PREPACKERS CC |
B2002/063356/23 |
Deregistration Final |
10 Years 9 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.