MIRA INFORM REPORT

Report Date :

29.05.2013

IDENTIFICATION DETAILS

Name :	JOLLYPAC CC

Registered Office :	D 686 Upper Melville 4225 Umzumbe

Country :	South Africa

Date of Incorporation :	07.06.1999

Com. Reg. No.:	B1999/031937/23

Legal Form :	Closed Corporation

Line of Business :	Subject is involved in the prepackaging of grains and beans

No. of Employees :	90

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 – March 31^st 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

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 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	JOLLYPAC CC
Country	South Africa
Subject Contact Person	MR E M HAFFEJEE - Managing Member
Assessment	This is a well-established business. On investigation contact was made with the sole member of the company, MR E M HAFFEJEE. The company has been in business for 14 years. Commitments are being met timeously with suppliers. No adverse information was revealed during the investigation. We are awaiting a bank code. Please see the information obtained below.

Auditors information

Company Registered Name	RAJ LAKRAJ & ASSOCIATES CC
Trading Name	R R LAKRAJ
Registration Number	1996/050781/23
Physical Address	OFFICE NUMBER 1 RSV CENTRE, COR NELSON MANDELA DR/BISSET STREET, PORT SHEPSTONE, 4240
Postal Address	P 0 BOX 2166, PORT SHEPSTONE, 4240
Contact Person	MR RAJ
Contact Number	0396820378
Email	rajl@saol.com
Principals	4
Judgements Against Subject	No information found on file
Judgements Against Principals	No information found on file
Subject Verified as Client	Yes
VAT Number	4800166680
Tax Number	9115184203
BEE Status	Undisclosed
Financial Year End	February
No of years in Business	10 Years
Website	None

Previous Auditors

Company Name	Phone Number	Time with previous auditors	Comment
SC KHAMISSA		14
R R LAKRAJ		Unknown

Tax information

Vat Number	4590185510
Status	ACTIVE
Vat Liable Date	1999/11/01
Tax Number	9101281203
Financial Year End	February

Black Economic Empowerment

Status	Yes
Score	4.00
BEE Certificate Available	No
Comment	Level 3

ISO Information - No Information on Record

Workman's compensation

Registered	Yes
Compliance Certified	Yes

Company Structure

Subsidiaries Information - No Information on Record

Employees
Number of Employees	90
1. Salaried employees	90
2. Waged employees
3. Permanent employees	90
Company Fleet
Company Fleet	No of vehicles:	Owned/Leased	Value	Outstanding Balance
Fleet Operations
The Fleet is made up of	14
Comment
Trucks	14	Owned

Offices

Offices	Offices
Head Office Owned/ Rented	Owned
Rental Company	None
Owned by	Company
Type of Premises	Office and Factory 10 acres 4800 sqm

Branch Information - No Information on Record

Management Overview

Organisation Chart

Level	Position	Name	Comment

1	Managing member	EMRAN HAFFEJEE

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
100% - EMRAN HAFFEJEE	JOLLYPAC CC

Key Deals - No Information on Record

Trade References

Trade Reference nr	Supplier	Contact	Surety Value	Notarial Bonds	Comment
2	TROPIC PLASTICS	0314681534
3	TREND TYRE	0828239764
1	AGRIPACK	0724405566

Trade References Detail

Nr	Age of Acc	Credit Limit	Max Credit	Terms	Average Purchases	Terms Taken	Comment
2	4 YEARS		R1000000	30 DAYS	R 500000	30 DAYS	GOOD ACCOUNT
3	2005	R135000.00	R 700000	25 DAYS	R 70000	25 DAYS	CREDIT LIMIT IS EXCEEDED AT TIMES,GOOD ACCOUNT
1	7 YEARS	R 5000000.00	R 9000000	14 DAYS	R 3500000	14 DAYS	VERY GOOD ACCOUNT

Adverse Information on Subject

Judgements

Judgements	NONE
Possible Judgements	0
Civil Court	NONE
RDs	0
Comment	No Information on Record

Business Rescue

Date registered	Business rescue practitioner	Contact Information	Details	Comment
	NO INFORMATION ON FILE	No Information on Record	No Information on Record	No Information on Record

Default Listings

Date	Details	Comment
	NO INFORMATION FOUND ON FILE	No Information on Record

Notarial Bonds

Date	Details	Comment
	NO INFORMATION FOUND ON FILE	No Information on Record

Bank Information

Bank	HBZ BANK
Branch	DURBAN GREY STREET
Brach Code	570105
Bank Account Number	11013408
Type of Account	CURRENT ACCOUNT
Account Name	JUMBO PREPACKERS CC
Overdraft Facilities	The company has an overdraft facility.No further details were made available
Bank Code	Awaiting Bank Code

Bank Code History - No Information on Record

Previous Bank Account Information - No Information on Record

Deeds Information - No information on record

Financial Estimates

Stock	R10000000.00
Debtors	R 45000000.00
FIXED ASSETS	R15000000.00
Plant, Equipment, Vehicles	R 34000000.00
Previous Year Turnover	R198000000.00
Estimated Current Year Turnover	R 220000000.00
Current Turnover per month	R17000000.00

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

Principals

Number of Principals	1
Average Age of Active Principals	46

Active Principals Principal - 1of 1 EMRAN HAFFEJEE

Surname	HAFFEJEE
First Name	EMRAN
Other Names	None
Marital Status	Married
ID Number	6707045038050
Verified ID Number	Yes
Current Age	46
Designation	Managing Member
Status	Active
Appointment Date	1999/06/07
Physical Address (at time of Appointment)	3 CONNOR COURT, PORT SHEPSTONE, 4240
Postal Address	3 CONNOR COURT, PORT SHEPSTONE, 4240
Current Tel Number	0396846315
Cell number	0826804530
Shareholding/Membership	100%

Principal's Adverse - No information on record

Business Information for EMRAN HAFFEJEE

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
JOLLYPAC CC	B1999/031937/23	In Business	13 Years 11 Months	0	No

Principal's Previous Business Interests - No information on record

Principal's Deeds Information - No information on record

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.74
UK Pound	1	Rs.84.17
Euro	1	Rs.72.03

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%)

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	JOLLYPAC CC
Trading as/ Division Name	None
Previous Name	None
Date of Name Change	None
Registration Number	B1999/031937/23
Registration Date	1999/06/07
Date Commenced Trading	June 1999
Age of Business	13 Years 11 Months
History of Business	JOLLYPAC CC was registered in June 1999 and operations commenced immediately
History of Principals	There is currently one active member within the business.
Shareholders/Members/Partners of subject and % holding	100%EMRAN HAFFEJEE
Authorised Share Capital	R0.00
Issued Share Capital/Members Contribution	R 100.00
Status	In Business
Operations Assessment	The company is involved in the prepackaging of grains and beans
Industry/ Customers	Retail and Wholesale
Export	None
Import	Yes
Import Countries	India
Major Industry Code / SICC	88950
Definition of Code	Packaging activities

Head Office Physical Address	D686 UPPER MELVILLE 4225 UMZUMBE,
Head Office Postal Address	P O BOX 51 ,UZUMBER 4225,FARM UPPER MELLVILLE
Current Tel Number	0396846780
Cell Number	0826804530
Current Fax Number	0396845073
Current Email Address	jollypac@telkomsa.net
Web Site Address	None