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Report Date : |
05.09.2013 |
IDENTIFICATION DETAILS
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Name : |
INDOTRAK CC |
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Formerly Known As : |
INDOTRAK (PTY) LTD |
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Registered Office : |
206 Commissioner Street, Burgershoop, Krugersdorp |
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Country : |
South Africa |
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Date of Incorporation : |
23.02.2011 |
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Com. Reg. No.: |
B2011/021808/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
Subject is involved in the import and distribution of
motor vehicle parts such as Mahindra and Tata, motor cycles and personal and
household goods |
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No. of Employees : |
05 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
INDOTRAK CC |
|
Country |
SOUTH AFRICA |
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Subject Contact Person |
WILLIAM VAN DER MESCHT - Managing Member |
|
Assessment |
This is an established business. On investigation contact was made with the Managing Member, WILLIAM VAN DER MESCHT who assisted with the information. The business has been operating for 6 years. The company does not have many local suppliers, but is meeting its supplier timeously. One default was revealed during the investigation. The physical address and contact number provided was the previous address and number of the business. Please see the information obtained below. |
|
Registered Name |
INDOTRAK CC |
|
Trading as/ Division Name |
INDOPLAST |
|
Previous Name |
INDOTRAK (PTY) LTD |
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Date of Name Change |
2011-02-01 |
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Registration Number |
B2011/021808/23 |
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Registration Date |
2011/02/23 |
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Date Commenced Trading |
2011-02-23 |
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Age of Business |
2 Years 6 Months |
|
History of Business |
INDOTRAK CC trading as INDOPLAST was registered in September 2009 and converted to a Close corporation in February 2011. |
|
History of Principals |
There is one active member within the business |
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Shareholders/Members/Partners of subject and % holding |
100 % - WILLIAM JAMES VAN DER MESCHT |
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Authorised Share Capital |
R 100.00 |
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Issued Share Capital/Members Contribution |
R 100.00 |
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Status |
In Business |
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Operations Assessment |
The company is involved in the import and distribution of motor vehicle parts such as Mahindra and Tata, motor cycles and personal and household goods. |
|
Industry/ Customers |
The Motor Vehicle Industry |
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Export |
Yes |
|
Export Countries |
China, India |
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Import |
Yes |
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Import Countries |
China, India |
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Major Industry Code / SICC |
63319 |
|
Definition of Code |
Sale of other new motor vehicle parts and accessories |
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Head Office Physical Address |
206 COMMISSIONER STREET, BURGERSHOOP, KRUGERSDORP - The previous address of the company as stated below: 18 BARRET ROAD, FACTORIA, KRUGERSDORP, 1739 |
|
Head Office Postal Address |
P O BOX 1235, RANT-EN-DAL, KRUGERSDORP, 1751 |
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Current Tel Number |
0116606909 |
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Cell Number |
0797564968 |
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Current Fax Number |
0116607122 |
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Current Email Address |
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Web Site Address |
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Company Registered Name |
DE VOS RICHARDS AUDITORS |
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Trading Name |
DE VOS RICAHRDS |
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Registration Number |
PARTNERSHIP |
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Physical Address |
CLEARVIEW OFFICE PARK, BLOCK C - UNITS 11-12, WILHELMINA AVENUE, CONSTANTIAKLOOF |
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Postal Address |
P O BOX 6910, WESTGATE, 1734 |
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Contact Person |
MR LEN DE VOS |
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Contact Number |
0116751866 |
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Email |
|
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Principals |
2 |
|
Judgements Against Subject |
No information found on file |
|
Judgements Against Principals |
No information found on file |
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Subject Verified as Client |
Yes |
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Practice Number |
914584 |
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VAT Number |
Unavailable |
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Tax Number |
Unavailable |
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BEE Status |
Unavailable |
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Financial Year End |
Unavailable |
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No of years in Business |
Unavailable |
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Website |
None |
Previous Auditors Information - No Information on Record
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Vat Number |
4050118399 |
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Status |
ACTIVE |
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Vat Liable Date |
1991/09/30 |
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Tax Number |
9020146875 |
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Tax Clearance Expire Date |
|
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Financial Year End |
February |
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Status |
No |
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Score |
9.00 |
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Expire Date |
|
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BEE Certificate Available |
No |
ISO Information - No
Information on Record
|
Registered |
Yes |
|
Compliance Certified |
Yes |
Subsidiaries
|
Subsidiary Company |
There are no reported subsidiaries |
Employees
|
Number of Employees |
5 |
|
1. Salaried employees |
5 |
|
2. Waged employees |
0 |
|
3. Permanent employees |
5 |
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4. Casual employees |
0 |
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5. Contracted employees |
0 |
Company Fleet
|
Company Fleet |
No of vehicles: |
Owned/Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
|
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The Fleet is made up of |
3 |
|||
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Comment |
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Cars |
1 |
Owned |
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Other |
2 |
Owned |
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Offices |
Offices |
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Head Office Owned/ Rented |
Leased |
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Rental Company |
LOUIE DE SILVER |
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Lease Agreement |
Annual Lease Agreement |
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Type of Premises |
Retail Store |
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Branches Names |
Country |
Province |
|
The company is
opening a store in Natal |
South Africa |
KWA ZULU NATAL |
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Branches Owned/ Rented |
Leased |
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Type of Premises |
Store Front |
Organisation Chart
|
Level |
Position |
Name |
Comment |
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|||
|
1 |
AAANAGING MEMBER |
WILLIAM VAN DER MESCHT |
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Company Structure
(Ownership)
Note:
One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
100 % - WILLIAM JAMES VAN DER MESCHT |
INDOTRAK CC |
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Key Deals - No Information on Record
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Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
|
1 |
DANNY'S AUTOMOTIVE |
0116825600 |
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|
|
|
2 |
SAVINO DEL BENE |
0114373000 |
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|
Against company
policy to provide trade references. |
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
3 Years |
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|
COD |
|
COD |
Good account,no further details made available |
Judgements
|
Judgements |
1 |
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Possible Judgements |
None |
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Civil Court |
None |
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RDs |
None |
|
Comment |
No Information on Record |
Business Rescue
|
Date registered |
Business rescue practitioner |
Contact Information |
Details |
Comment |
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|
There is 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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|
There is no information found on file |
No Information on Record |
Notarial Bonds
|
Date |
Details |
Comment |
|
|
There is no information found on file |
No Information on Record |
|
Bank |
NEDBANK |
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Branch |
UNIVERSAL |
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Brach Code |
198765 |
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Bank Account Number |
1988457351 |
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Type of Account |
CURRENT ACCOUNT |
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Account Name |
INDOTRAK CC |
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Overdraft Facilities |
Declined |
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Bank Code |
C - For R100 000 |
|
Bank Comment |
Good for the amount quoted, if strictly in the way of business. |
Bank Code History -
No Information on Record
Previous Bank Account
Information - No Information on Record
Deeds Information - No
information on record
|
Number of Principals |
1 |
|
Average Age of Active Principals |
26 |
Active Principals
Principal - 1of 1 WILLIAM VAN DER MESCHT
|
Surname |
VAN DER MESCHT |
|
First Name |
WILLIAM |
|
Other Names |
JAMES |
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Marital Status |
Single |
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ID Number |
8704065057084 |
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Verified ID Number |
Yes |
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Current Age |
26 Years 4 Months |
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Designation |
Managing Director |
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Status |
Active |
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Appointment Date |
2011/02/23 |
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Physical Address (at time of Appointment) |
70 HEKPOORT ROAD, PROTEA RIDGE, KRUGERSDORP, 1739 |
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Postal Address |
P O BOX 1235, RANT-EN-DAL, KRUGERSDORP, 1751 |
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Current Tel Number |
Unavailable |
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Cell number |
Unavailable |
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Shareholding/Membership |
100% |
Principal's Adverse - No information on record
Business Information
for WILLIAM VAN DER MESCHT
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
INDOTRAK CC |
B2011/021808/23 |
In Business |
2 Years 2 Months |
1 |
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.67.03 |
|
UK Pound |
1 |
Rs.104.32 |
|
Euro |
1 |
Rs.88.24 |
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.