MIRA INFORM REPORT

 

 

Report Date :

19.10.2013

 

IDENTIFICATION DETAILS

 

Name :

TRADE KINGS (SOUTH AFRICA) (PTY) LTD

 

 

Formerly Known As :

8 MILE INVESTMENTS 287 (PTY) LTD

 

 

Registered Office :

36 Mineral Crescent, Crown Mines Ext 3, Johannesburg, Gauteng

 

 

Country :

South Africa

 

 

Date of Incorporation :

23.02.2005

 

 

Com. Reg. No.:

2005/005710/07

 

 

Legal Form :

Private Company

 

 

Line of Business :

Manufacturers of sweets and confectionery, brand names being MILKIT and AMAZON MONSTA.

 

 

No. of Employees :

147

 

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 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

 

 

 

(The information contained in this report, other than statutory data and comment by outside authorities, has been voluntarily supplied by Officials of the subject):

 

 

COMPANY NAME

 

TRADE KINGS (SOUTH AFRICA) (PTY) LTD

 

Formerly 8 MILE INVESTMENTS 287 (PTY) LTD, the name having been changed on 10 June 2005.

 

 

PHYSICAL ADDRESS    

 

36 Mineral Crescent

Crown Mines Ext 3

Johannesburg

Gauteng

 

 

POSTAL ADDRESS   

 

Postnet Suite 74

Private Bag 1

Fordsburg

2033

 

TELEPHONE NUMBER:              +27 11 839 0145/8

FAX NUMBER:                           +27 11 839 3002

 

 

SHAREHOLDERS

 

100%    TRADE KINGS LTD (ZAMBIA)

 

 

ASSOCIATE COMPANIES

 

None

 

 

DIRECTORS

 

A AYYUB (resident in Zambia)                            Ppt No.  ZK070747

K MOHAMED (resident in Zambia)                      Ppt No.  ZG04395

A MOHAMMED (resident in Zambia)                    Ppt No.  ZK069776

Z MOOSA (resident in Zambia)                            Ppt No.  GBR761062557

M I PATEL (resident in Zambia)                           Ppt No.  ZJ63230

Z I PATEL (resident in Zambia)                            Ppt No.  GBR761031806

M CETTY                                                          DOB 670115

 

 

BANKERS

 

FIRST NATIONAL BANK and STANDARD BANK, Corporate, Johannesburg.  It was stated that the subject does not require overdraft facilities at either bank as credit balances are maintained.

 

 

DATE REGISTERED

 

23 February 2005

Registration Certificate Number: 2005/005710/07

 

The subject commenced trading in 2005

 

 

VAT NUMBER

 

4330223365

 

 

TAX NUMBER    

 

9140917155

 

 

MAJOR OPERATION

 

Manufacturers of sweets and confectionery, brand names being MILKIT and AMAZON MONSTA.

 

 

MAJOR SUPPLIERS

 

The subject imports supplies and deals locally with

 

TONGAAT HULLET STARCH

FLAVOUROME

LIONHEART

WORLDNET LOGISTICS

 

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

 

Wholesalers

 

 

AREA OF DISTRIBUTION AND SELLING

 

South Africa

 

 

EXPORTS

 

Africa

 

 

TOTAL EMPLOYEES

 

147

 

 

OTHER PREMISES

 

None

 

 

OWNED OR LEASED

 

The premises are reported to be leased

 

 

AUTHORISED SHARE CAPITAL

 

R1 000 divided into 1 000 ordinary shares of R1 each

 

 

ISSUED SHARE CAPITAL

 

R100

FINANCIALS

 

The following estimated financial situation was submitted as at 15 October 2013:

 

STOCK                                                                                                       R11 000 000

DEBTORS                                                                                                   R21 000 000

FIXED ASSETS                                                                                           R74 000 000

CREDITORS                                                                                                R17 000 000

TURNOVER per annum                                                                             ±R150 000 000

 

 

AUDITORS

           

HORWARTH LEVETON BONER Johannesburg  +27 11 217 8000

 

 

YEAR END    

 

FEBRUARY

 

 

INSURANCE BROKERS

 

TAKAFOL Johannesburg

 

 

TRADE REFERENCES – MAY 2010

 

      ACCOUNT    HIGHEST       AVERAGE       TERMS     PAYMENT    EXPERIENCE

      OPENED      CREDIT         CREDIT                          PATTERN

 

1.    1 year           R1 000 000    R1 000 000      30 days    30 days        Good

 

2.    Aug 2009      R   500 000    R   200 000-    7 days      7 days          Average

                                               R   500 000

 

3.    Feb 2009      R     20 000    R       5 000-    30 days    30 days        Good

                          c/l                 R     15 000

 

4,    Do not give trade references

 

5.    Do not give trade references

 

CURRENT TRADE REFERENCES

 

       ACCOUNT   HIGHEST       AVERAGE      TERMS     PAYMENT    EXPERIENCE

       OPENED      CREDIT          CREDIT                          PATTERN

 

1.         2010            R1 200 000     R300 000-       60 days     60 days        Very good

                                               R500 000

 

2.         Do not give trade references

 

3.         Do not give trade references

 

 

COMMENTS

 

This is an established business meeting its commitment timeously.  The subject is considered equal to a maximum amount of €100 000 over 60 days.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.28

UK Pound

1

Rs.99.03

Euro

1

Rs.83.80

 

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.