MIRA INFORM REPORT

Report Date :

02.04.2014

IDENTIFICATION DETAILS

Name :	WIRSAM SCIENTIFIC AND PRECISION EQUIPMENT (PTY)LTD
Registered Office :	23 Menton Road, Richmond Auckland Park, Johannesburg, Gauteng
Country :	South Africa
Year of Establishments:	1968
Com. Reg. No.:	M1976/003008/07
Legal Form :	Private Company
Line of Business :	· suppliers of laboratory instrumentation.  · Subject is categorised into Microscopy, Analytical, Material Testing, Petrochemical and General Laboratory Instrumentation divisions. · subject imports, supplies and maintains scientific equipment. · Manufacturer of glass such as containers, kitchenware, scientific, other NEC Subject product ranges includes : - · Analytical · Material Testing · Microscopy · Nanotechnology · Petrochemical · General Laboratory § Calorimeters § Centrifuges § CO2 Incubators § Electrochemistry § Environmental Chambers § Furnaces § LIMS § Pharmaceutical § Pumps § Sample Preparation § Weighing Equipment
No. of Employees	51

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 – december 01, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
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, unstable electricity supplies retard growth. 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, the state-run power company, 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	WIRSAM SCIENTIFIC AND PRECISION EQUIPMENT (PTY)LTD
Country	South Africa
Subject Contact Person	MOHAMED - Accountant
Assessment	This is an established business. On investigation contact was made with MOHAMED the accountant. The subject is meeting commitments timeously with suppliers. We are awaiting 1 further trade reference. Please see the available information on the subject below.

Company information

Registered Name	WIRSAM SCIENTIFIC AND PRECISION EQUIPMENT (PTY)LTD
Trading as/ Division Name	WIRSAM SCIENTIFIC AND PRECISION EQUIPMENT
Previous Name	None
Date of Name Change	None
Registration Number	M1976/003008/07
Registration Date	1976/08/24
Date Commenced Trading	1968
Age of Business	37 Years 7 Months
History of Business	The company is in operation for the past 37 years 7 months.
History of Principals	There are 2 active principals within the business MARIAN HELEN WIRSAM & PETER FRANZ WIRSAM.
Shareholders/Members/Partners of subject and % holding	100 % - WIRSAM FAMILY TRUST
Authorised Share Capital	R 0.00
Issued Share Capital/Members Contribution	R 0.00
Status	In Business
Operations Assessment	· suppliers of laboratory instrumentation.  · Subject is categorised into Microscopy, Analytical, Material Testing, Petrochemical and General Laboratory Instrumentation divisions. · subject imports, supplies and maintains scientific equipment.
Product details	· Analytical · Material Testing · Microscopy · Nanotechnology · Petrochemical · General Laboratory § Calorimeters § Centrifuges § CO2 Incubators § Electrochemistry § Environmental Chambers § Furnaces § LIMS § Pharmaceutical § Pumps § Sample Preparation § Weighing Equipment
Industry/ Customers	Research labs, the mining industry, petrol industry and hospitals.
Export	Yes
Export Countries	Namibia
Import	Yes
Major Industry Code / SICC	34112
Definition of Code	Manufacturer of glass such as containers, kitchenware, scientific, other NEC
Head Office Physical Address	23 Menton Road, Richmond Auckland Park, Johannesburg, GAUTENG
Head Office Postal Address	P O BOX 4759, JOHANNESBURG, 2000
Current Tel Number	0114821060
Cell Number	0832937100
Current Fax Number	0117266094
Current Email Address	wirsamjb@wirsam.com
Web Site Address	www.wirsam.com

Auditors information

Company Registered Name	D KALMIN AND COMPANY INC
Trading Name	Unavailable
Registration Number	1998/003286/21
Physical Address	27 BOMPAS ROAD, DUNKEL WEST, 2196
Postal Address	P O BOX 891527, LYNDHURST, 2192
Contact Person	DAVID KALMIN
Contact Number	0113252480
Email	david@dkalmin.co.za
Principals	1
Judgements Against Subject	Unavailable
Judgements Against Principals	Unavailable
Subject Verified as Client	Yes
Practice Number	935654E
VAT Number	Unavailable
Tax Number	9283367846
BEE Status	Unavailable
Financial Year End	February
No of years in Business	16 Years 1 Months
Website	www.dkalmin-accountants.co.za

Previous Auditors Information - No Information on Record

Tax information

Vat Number	4950103053
Status	ACTIVE
Vat Liable Date	1991/09/30
Tax Number	9662041848
Financial Year End	February

Black Economic Empowerment

Status	Yes
Score	5.00
BEE Certificate Available	No
Comment	The subject could not provide the BEE certificate and the expiry date.

ISO Information - No Information on Record

Workman's compensation

Registered	Yes
Compliance Certified	Yes

Company Structure

Subsidiaries

Subsidiary Company	WIRSAM FAMILY TRUST
Shareholding	100 %
Registration Number	Unavailable
Import / Export	Unavailable
Subsidiary Company	THALBOE (PTY)LTD
Shareholding	Unavailable
Registration Number	M1948/030013/07
Import / Export	Unavailable

Employees

Number of Employees	51
1. Salaried employees	48
2. Waged employees	3
3. Permanent employees	48
4. Casual employees	0
5. Contracted employees	3
Comment	The subject has a total number of 51 employees and 3 of them are said to be contracted staff and 48 being permanent.

Company Fleet Information - No Information on Record

Offices Information - No Information on Record

Branch Information - No Information on Record

Management Overview

Organisational Chart - No Information on Record

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
100 % - WIRSAM FAMILY TRUST	WIRSAM SCIENTIFIC AND PRECISION EQUIPMENT (PTY) LTD	None

Key Deals - No Information on Record

Trade References

Trade Reference nr	Supplier	Contact	Surety Value	Notarial Bonds	Comment
1	HYPRODT	0119294900
2	BIDVEST	0115706225
3	TOWLL GLOBAL FOWARDING	0115652600
4	FIRST FREIGHT	0113877000

Trade References Detail

Nr	Age of Acc	Credit Limit	Max Credit	Terms	Average Purchases	Terms Taken	Comment
1	5 Years	R 800000.00	R 800000	30 Days	R 795000	30 Days	This is an excellent account
2							Awaiting trade reference
3							The subject declined to provide a trade reference
4	7 Years	R100000.00	R100000	30 Days	R15000	28 Days	This is an excellent account

Adverse Information on Subject

Judgements - No information on record

Business Rescue - No Information on Record

Default Listing - No information on record

Notarial Bonds - No information on record

Bank information

Bank	ABSA
Branch	AUCKLAND PARK
Brach Code	632005
Bank Account Number	2840980149
Type of Account	Cheque
Account Name	WIRSAM SCIENTIFIC AND PRECISION EQUIPMENT (PTY)LTD
Overdraft Facilities	Yes
Bank Code	C - For R 800 000
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

Financial Estimates

CURRENT ASSETS
Stock	R 25000000.00
Previous Year Turnover	R 98000000.00
Estimated Current Year Turnover	R 98000000.00
Current Turnover per month	R 8000000.00
Current Turnover per annum	R 96000000.00

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	4
Average Age of Active Principals	92

Active Principals Principal - 1 of 2 MARIAN WIRSAM

Surname	WIRSAM
First Name	MARIAN
Other Names	HELEN
ID Number	4201250045002
Verified ID Number	Yes
Current Age	72 Years 2 Months
Designation	Director
Status	Active
Appointment Date	2009/11/27
Physical Address (at time of Appointment)	51 MARICO ROAD, EMMARENTIA EXT 1, JOHANNESBURG, 2195
Postal Address	PO BOX 91058, AUCKLAND PARK, 2006
Current Tel Number	0114821060
Cell number	0832937100
Shareholding/Membership	0.00

Principal's Adverse - No information on record

Business Information for MARIAN WIRSAM

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
AFRICAN MINING AND TRUST COMPANY LTD	M1931/003633/06	In Business	82 Years 10 Months	0	No
ASSMANG LTD	M1935/007343/06	In Business	78 Years 6 Months	0	No
ASSORE LTD	M1950/037394/06	In Business	63 Years 3 Months	0	No
CATO RIDGE DEVELOPMENT COMPANY LTD	M1956/002268/06	In Business	57 Years 9 Months	0	No
CERAMOX (PTY)LTD	M2000/027163/07	In Business	13 Years 1 Months	0	No
ERF 1263 PARKVIEW EXTENSION 1 (PTY)LTD	M2005/024880/07	In Business	8 Years 8 Months	0	No
ERVEN 27 AND 28 ILLOVO (PTY)LTD	M2001/000388/07	In Business	0	0	No
ERVEN 40 AND 41 ILLOVO (PTY)LTD	M1999/025517/07	In Business	14 Years 2 Months	0	No
GENERAL NOMINEES (PTY)LTD	M1951/002960/07	In Business	62 Years 2 Months	0	No
GROUP LINE PROJECTS (PTY)LTD	M1991/000798/07	In Business	22 Years 10 Months	0	No
ICERMAX (PTY)LTD	K2012/089070/07	In Business	1 Years 1 Months	0	No
MAIN STREET 350 (PTY)LTD	M2005/026562/07	In Business	8 Years 8 Months	0	No
MAIN STREET 460 (PTY)LTD	M2006/021404/07	In Business	7 Years 7 Months	0	No
MAIN STREET 904 (RF) (PTY)LTD	M2011/008937/07	In Business	2 Years 2 Months	0	No
MINERAIS HOLDINGS (PTY)LTD	M1999/006521/07	In Business	14 Years 2 Months	0	No
ORE AND METAL COMPANY LTD	M1930/002363/06	In Business	83 Years 11 Months	0	No
ORESTEEL INVESTMENTS (PTY)LTD	M1975/003008/07	In Business	38 Years 2 Months	0	No
RUSTENBURG MINERALS DEVELOPMENT COMPANY (PTY)LTD	M1968/002462/07	In Business	45 Years 9 Months	0	No
THE SACCO COMMUNITY CENTRE	M2009/013212/08	In Business	4 Years 4 Months	0	No
WONDERSTONE 1937 LTD	M1937/009964/06	In Business	76 Years 4 Months	0	No
WONDERSTONE LTD	M1935/006371/06	In Business	78 Years 6 Months	0	No
XERTECH (PTY)LTD	M2001/006462/07	In Business	0	0	No
ZEERUST CHROME MINES LTD	M1962/001355/06	In Business	51 Years 3 Months	0	No
DYNAQUEST CC	B1986/021799/23	In Business	28 Years 4 Months	0	No
WIRSAM ENGINEERING (PTY)LTD	M1976/003007/07	In Business	38 Years 2 Months	0	No
WIRSAM SCIENTIFIC AND PRECISION EQUIPMENT (PTY)LTD	M1976/003008/07	In Business	38 Years 2 Months	0	No

Principal Previous Business Interests

Average Age of Previous Business 46 Years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
A M T INVESTMENTS (PTY)LTD	M1976/000849/07	In Business	37 Years 1 Months	0	No
ASSOCIATED ASBESTOS LTD	M1938/011745/06	Deregistration Final	75 Years 3 Months	0	No
CHROAM (PTY)LTD	M1994/009089/07	Deregistration Final	19 Years 7 Months	0	No
FERALLOYS LTD	M1957/000311/06	Deregistration Final	56 Years 8 Months	0	No

Principal Deeds Information

Property Interests for MARIAN WIRSAM

Title Deed No.	T82/2008	Erf/Site No.
Deeds Office	PRETORIA	Physical Address
Property Type	Farms	Extent / Size	2500.0SQM
Purchase Date	2007/04/30	Purchase price
% Ownership	0.00	Bond Holder

Property Interests for MARIAN WIRSAM

Title Deed No.	T70145/2004	Erf/Site No.
Deeds Office	CAPE TOWN	Physical Address	MOSSELBANK PATERNOSTER
Property Type	Freehold	Extent / Size	302.0SQM
Purchase Date	2004/02/02	Purchase price
% Ownership	0.00	Bond Holder	STANDARD BANK OF SOUTH AFRICA L
Bond Number	B559682004	Bond Amount

Property Interests for MARIAN WIRSAM

Title Deed No.	T75226/2008	Erf/Site No.
Deeds Office	CAPE TOWN	Physical Address	PATERNOSTER PATERNOSTER
Property Type	Freehold	Extent / Size	541.0SQM
Purchase Date	2007/12/24	Purchase price
% Ownership	0.00	Bond Holder

Property Interests for MARIAN WIRSAM

Title Deed No.	ST3326/2009	Erf/Site No.	3275
Deeds Office	CAPE TOWN	Physical Address	16 HIGGO GARDENS CAPE TOWN
Property Type	Sectional Title	Extent / Size	86.0SQM
Purchase Date	2009/01/08	Purchase price
% Ownership	0.00	Bond Holder
Bond Number	I-144672000LG	Bond Amount

Property Interests for MARIAN WIRSAM

Title Deed No.	ST3326/2009	Erf/Site No.	3275
Deeds Office	CAPE TOWN	Physical Address	16 HIGGO GARDENS CAPE TOWN
Property Type	Sectional Title	Extent / Size	17.0SQM
Purchase Date	2009/01/08	Purchase price
% Ownership	0.00	Bond Holder

Property Interests for MARIAN WIRSAM

Title Deed No.	T11550/2013	Erf/Site No.
Deeds Office	CAPE TOWN	Physical Address	VOORSTRAND PATERNOSTER
Property Type	Freehold	Extent / Size	454.0SQM
Purchase Date	2013/01/13	Purchase price
% Ownership	0.00	Bond Holder
Bond Number	K8692002S	Bond Amount

Principal - 2 of 2 PETER WIRSAM

Surname	WIRSAM
First Name	PETER
Other Names	FRANZ
Marital Status
ID Number	410729
Verified ID Number	No
Current Age	72 Years 8 Months
Designation	Director
Status	Active
Appointment Date	1976/09/20
Physical Address (at time of Appointment)	51 MARICO ROAD, EMMARENTIA, JOHANNESBURG, 2195
Postal Address	P O BOX 91058, AUCKLAND PARK, 2006
Shareholding/Membership	0.00

Principal's Adverse - No information on record

Business Information for PETER WIRSAM

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
ORE AND METAL COMPANY LTD	M1930/002363/06	In Business	83 Years 11 Months	0	No
WIRSAM SCIENTIFIC AND PRECISION EQUIPMENT (PTY)LTD	M1976/003008/07	In Business	38 Years 2 Months	0	No

Principal Previous Business Interests

Average Age of Previous Business 14 Years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
UNIT 63 SANTANA CC	B1999/029756/23	Deregistration Final	14 Years 2 Months	0	No

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.09
UK Pound	1	Rs.99.85
Euro	1	Rs.82.58

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.