|
Report Date : |
28.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
STRUTFAST
(PTY)LTD |
|
|
|
|
Formerly Known As : |
CLASS
A TRADING 172 (PTY)LTD |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
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Date of Incorporation : |
07.03.2001 |
|
|
|
|
Com. Reg. No.: |
M2001/000805/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
The
subject operates as a wholesaler of construction related products and general
hardware. |
|
|
|
|
No. of Employees : |
Not Available |
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) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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.
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 |
STRUTFAST
(PTY)LTD |
|
Country |
South
Africa |
|
Subject
Contact Person |
FRANCOIS
VAN DER WYVER - Financial Manager |
|
Assessment |
This
is an established business. On investigation contact was made with FRANCOIS
VAN DER WYVER the financial manager who assisted with most of the required information
except financials as it is deemed to be confidential. The subject is meeting
commitments timeously with suppliers. We obtained a bank code C for R 1 000
000 over a period of 30 Days. Please see the available information on the
subject below. |
|
Registered
Name |
STRUTFAST
(PTY)LTD |
|
Trading
as/ Division Name |
STRUTFAST |
|
Previous
Name |
CLASS
A TRADING 172 (PTY)LTD |
|
Date
of Name Change |
2001-03-07 |
|
Registration
Number |
M2001/000805/07 |
|
Registration
Date |
2001/01/17 |
|
Date
Commenced Trading |
2001-01-17 |
|
Age
of Business |
12
Years 9 Months |
|
History
of Business |
The
subject was established in 2001 and operations commenced immediately. |
|
History
of Principals |
There
are currently 2 active directors within the company. |
|
Shareholders/Members/Partners
of subject and % holding |
Unavailable |
|
Authorised
Share Capital |
R1000.00 |
|
Issued
Share Capital/Members Contribution |
R
100.00 |
|
Status |
In
Business |
|
Operations
Assessment |
The
subject operates as a wholesaler of construction related products and general
hardware. |
|
Industry/
Customers |
All
major electrical contractors |
|
Export |
Yes |
|
Import |
Yes |
|
Major
Industry Code / SICC |
61430 |
|
Definition
of Code |
Wholesale
trade in construction materials, hardware, plumbing, heating |
|
Head
Office Physical Address |
435
MAIN REEF ROAD, DENVER, JOHANNESBURG, GAUTENG |
|
Head
Office Postal Address |
PO
BOX 40444, CLEVELAND, 2022 |
|
Current
Tel Number |
0114731212 |
|
Cell
Number |
Unavailable |
|
Current
Fax Number |
0114731199 |
|
Current
Email Address |
sales@strutf
ast. co. za |
|
Web
Site Address |
|
Company
Registered Name |
MDP
AUDITIORS INC |
|
Trading
Name |
MDP
AUDITIORS |
|
Registration
Number |
M1995/002035/21 |
|
Physical
Address |
42
LEBOMBO ROAD, ASHLEY GARDENS, 0081 |
|
Postal
Address |
PRIVATE
BAG 2006, MENLYN, 0063 |
|
Contact
Person |
SHALINI |
|
Contact
Number |
0123400700 |
|
Email |
Unavailable |
|
Principals |
3 |
|
Judgements
Against Subject |
None
On Record |
|
Judgements
Against Principals |
None
On Record |
|
Subject
Verified as Client |
Yes |
|
Practice
Number |
903973A |
|
VAT
Number |
Unavailable |
|
Tax
Number |
9880982641 |
|
BEE
Status |
Unavailable |
|
Financial
Year End |
February |
|
No
of years in Business |
4
Years 8 Months |
|
Website |
Unavailable |
|
Comment |
|
Previous
Auditors
|
Company Name |
Phone Number |
Time with previous
auditors |
Comment |
|
MALAN
DU PREEZ INC |
|
5
Years 5 Months |
|
|
Vat
Number |
4510192349 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
2001/02/09 |
|
Tax
Number |
9106216147 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
March |
|
Comment |
|
|
Black
Economic Empowerment |
|
|
Status |
Yes |
|
Score |
5.00 |
|
Expire
Date |
Sep
19 2014 |
|
BEE
Certificate Available |
No |
|
Comment |
|
|
|
|
|
ISO
Information - No Information on Record |
|
|
Workman's
compensation |
|
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
|
Comment |
|
Subsidiaries
|
Subsidiary
Company |
STRUTFAST
NORTH (PTY)LTD |
|
Shareholding |
100% |
|
Registration
Number |
2008/008494/07 |
|
Import
/ Export |
|
|
Comment |
|
Employees
Information - No Information on Record
Company
Fleet Information - No Information on Record
Offices
Information - No Information on Record Branch Information
|
Branches
Names |
Country |
Province |
|
STRUTFAST
(PTY)LTD |
South
Africa |
PORT
ELIZABETH |
|
STRUTFAST
(PTY)LTD |
South
Africa |
PRETORIA |
|
Branch
Detail Information |
||
|
Branches
Owned/ Rented |
Leased |
|
|
Rental
Company |
|
|
|
Owned
by |
|
|
|
Value |
|
|
|
Bond |
|
|
|
Bank |
|
|
|
Lease
Agreement |
|
|
|
Lease
Expire Date |
|
|
|
Type
of Premises |
Offices
and Warehouse |
|
|
Comment |
|
|
|
|
||
|
Branches
Owned/ Rented |
Leased |
|
|
Rental
Company |
|
|
|
Owned
by |
|
|
|
Value |
|
|
|
Bond |
|
|
|
Bank |
|
|
|
Lease
Agreement |
|
|
|
Lease
Expire Date |
|
|
|
Type
of Premises |
Offices
and warehouse |
|
|
Comment |
|
|
Organisational
Chart - No Information on Record
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 |
M
PROFILE |
0119081903 |
|
|
|
|
2 |
HENWILL
ENGINEERING |
0114749810 |
|
|
|
|
3 |
CRESENT
ENGINEERING |
0117625422 |
|
|
|
Trade
References Detail
|
Nr |
Age
of Acc |
Credit
Limit |
Max
Credit |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
|
1 |
10
Years |
R
5000000.00 |
R
2000000 |
30
Days |
R1000000 |
30
Days |
Good
account |
|
2 |
8
Years |
R1000000.00 |
R
900000 |
30
Days |
R
500000 |
30
Days |
Good
Account |
|
3 |
5
Years |
|
R
900000 |
30
Days |
R
300000 |
30
Days |
Very
good account. No credit limit has been set in place. |
Adverse
Information on Subject
Judgements
- No information on record BusinessRescue - No Information on Record
Default
Listing - No information on record
Notarial
Bonds - No information on record
|
Bank |
STANDARD
BANK |
|
Branch |
WESTGATE |
|
Brach
Code |
051001 |
|
Bank
Account Number |
0212153692 |
|
Type
of Account |
CURRENT |
|
Account
Name |
STRUTFAST
(PTY)LTD |
|
Overdraft
Facilities |
Yes |
|
Bank
Code |
C
- For R 1 000 000 |
|
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
Deeds
Information - No information on record
|
Number
of Principals |
2 |
|
Average
Age of Active Principals |
49 |
|
Active
Principals Principal - 1of 2 LEVY TSHABALALA |
|
|
Surname |
TSHABALALA |
|
First
Name |
LEVY |
|
Other
Names |
MAFEMANI |
|
Marital
Status |
|
|
ID
Number |
7911225303081 |
|
Verified
ID Number |
Yes |
|
Current
Age |
33
Years 11 Months |
|
Designation |
Director |
|
Status |
Active |
|
Appointment
Date |
2011/04/01 |
|
Physical
Address (at time of Appointment) |
1559
MOTA STREET, ORLANDO EAST, SOWETO, 1804 |
|
Postal
Address |
1559
MOTA STREET, ORLANDO EAST, ORLANDO EAST, SOWETO, 1804 |
|
Current
Tel Number |
0114731212 |
|
Cell
number |
0835511959 |
|
Shareholding/Membership |
0.00 |
Business
Information forLEVY TSHABALALA Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
STRUTFAST
(PTY) LTD |
M2001/000805/07 |
In
Business |
12
Years 9 Months |
0 |
No |
|
Principal
Previous Business Interest
Average
Age of Previous Business
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
|
|
|
|
|
|
|
|
Principal
- 2of 2 PIETER UYS |
|
|
Surname |
UYS |
|
First
Name |
PIETER |
|
Other
Names |
None |
|
Marital
Status |
|
|
ID
Number |
4902175081085 |
|
Verified
ID Number |
Yes |
|
Current
Age |
64
Years 8 Months |
|
Designation |
CIVIL
ENGINEER |
|
Status |
Active |
|
Appointment
Date |
2001/01/24 |
|
Physical
Address (at time of Appointment) |
21
SHELLY DRIVE, KLOOFENDAL, 1709 |
|
Postal
Address |
21
SHELLY DRIVE, KLOOFENDAL, 1709 |
|
Current
Tel Number |
0114731212 |
|
Cell
number |
0741794893 |
|
Shareholding/Membership |
0.00 |
Adverse
Information forPIETER UYS Principal Judgement
|
Number
of Judgements |
|
|
Principal
Debt Review |
|
|
Debt
review |
0 |
|
Other |
|
|
Default
data |
No
Information on Record |
Business
Information forPIETER UYS
Principal
Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
D
LINE SUPPORT SYSTEMS |
4902175081002 |
|
Unknown |
0 |
No |
|
|
STRUTFAST
(NORTH) (PTY)LTD |
M2008/008494/07 |
In
Business |
5
Years 5 Months |
0 |
No |
|
|
STRUTFAST
(PTY) LTD |
M2001/000805/07 |
In
Business |
12
Years 9 Months |
0 |
No |
|
|
STRUTFAST
PROPERTY HOLDING (PTY)LTD |
M2010/020570/07 |
In
Business |
3
Years 3 Months |
0 |
No |
|
Average
Age of Previous Business 26 Years
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
ARMCO
SUPERLITE (PTY) LTD |
M1987/001406/07 |
In
Business |
26
Years 2 Months |
0 |
No |
|
Principal's
Deeds Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.63 |
|
|
1 |
Rs.99.94 |
|
Euro |
1 |
Rs.85.14 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.