|
Report Date : |
14.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
WIRE
PRODUCTS STAINLESS STEEL (PTY) LTD |
|
|
|
|
Formerly Known As : |
WIRE
PRODUCTS (PTY) LTD |
|
|
|
|
Registered Office : |
Corner of
Snapper and Haring Streets, Wadeville Extension 2, Germiston, 1401 P O Box
14882, Wadeville, 1422 |
|
|
|
|
Country : |
South
Africa |
|
|
|
|
Date of Incorporation : |
10.09.1996 |
|
|
|
|
Com. Reg. No.: |
M1996/012262/07 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject
is a Producers of cold drawn stainless steel, round bar and all purpose wires |
|
|
|
|
No. of Employees : |
78 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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. 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 |
WIRE
PRODUCTS STAINLESS STEEL (PTY)LTD |
|
Country |
South
Africa |
|
Subject
Contact Person |
TANYA
PAPADOPOULOS - ACCOUNTS MANAGER |
|
Assessment |
This is an
established business. On investigation contact was made with MRS. TANYA
PAPADOPOULOS the accounts manager who assisted with most of the required
information. MRS PAPADOPOULOS however declined to assist with any financial
information as this is considered to be confidential. The subject is meetings
commitments timeously with suppliers. A bank code C was obtained for an
amount of R 3 500 000 over a period of 30 days. Please see the available
information on the subject below. |
|
Registered
Name |
WIRE
PRODUCTS STAINLESS STEEL (PTY)LTD |
|
Trading
as/ Division Name |
WPSS |
|
Previous
Name |
WIRE
PRODUCTS (PTY) LTD |
|
Date of
Name Change |
1996-09-10 |
|
Registration
Number |
M1996/012262/07 |
|
Registration
Date |
1996/09/10 |
|
Date Commenced
Trading |
1996-09-10 |
|
Age of
Business |
16 Years
9 Months |
|
History
of Business |
The
company WIRE PRODUCTS (PTY) LTD was initially established in 1987 and
operations commenced immediately. It was in 1996 when WIRE PRODUCTS STAINLESS
STEEL (PTY)LTD took over the assets and operations of WIRE PRODUCTS (PTY)
LTD. A Swiss company by the name of NOVAMITTAL SA purchased the majority
shares of the business in November 2005. |
|
History
of Principals |
There are
currently 3 active directors within the business. |
|
Shareholders/Members/Partners
of subject and % holding |
100 % -
NOVAMITTAL SA (A company based in Switzerland) |
|
Authorised
Share Capital |
R1000.00 |
|
Issued
Share Capital/Members Contribution |
R 100.00 |
|
Status |
In
Business |
|
Operations
Assessment |
Producers
of cold drawn stainless steel, round bar and all purpose wires |
|
Industry/
Customers |
Mining,
Engineering and the motor industry. |
|
Export |
Yes |
|
Export
Countries |
|
|
Import |
Yes |
|
Import
Countries |
Europa
Island |
|
Major
Industry Code / SICC |
35310 |
|
Definition
of Code |
Casting
of iron and steel |
|
Head
Office Physical Address |
Corner
of Snapper and Haring Streets, Wadeville Extension 2, GERMISTON, 1401 |
|
Head Office
Postal Address |
P O Box
14882, WADEVILLE, 1422 |
|
Current
Tel Number |
0118241528 |
|
Cell
Number |
|
|
Current
Fax Number |
0118243206 |
|
Current
Email Address |
colin ro
berts@wpss.co.za |
|
Web Site
Address |
|
|
Comments |
|
|
Company
Registered Name |
A ROTH |
|
Trading
Name |
|
|
Registration
Number |
5002215012080 |
|
Physical
Address |
31 THE BRAIDS,
EMARENTIA, 2195 |
|
Postal
Address |
P O BOX
85157, EMMARENTIA, 2029 |
|
Contact
Person |
ANTHONY |
|
Contact
Number |
0118838141
/ 0824471561 |
|
Email |
|
|
Principals |
1 |
|
Judgements
Against Subject |
None On
Record |
|
Judgements
Against Principals |
None On
Record |
|
Subject
Verified as Client |
Yes |
|
Practice
Number |
222373 |
|
VAT
Number |
4060204304 |
|
Tax
Number |
Undisclosed |
|
BEE
Status |
Undisclosed |
|
Financial
Year End |
Febraury |
|
No of
years in Business |
Unknown |
|
Website |
None |
|
Comment |
|
Previous Auditors Information - No Information on Record
|
Vat
Number |
4110163237 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
1997/03/01 |
|
Tax
Number |
9122005839 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
December |
|
Comment |
|
|
|
|
|
Black Economic Empowerment Information - No Information on
Record |
|
|
ISO
Status |
|
|
Type of
ISO Grade |
9001-2000 |
|
ISO
Certificate |
Yes |
|
ISO
Certificate Available |
No |
|
Certified
by an Accredited Agent |
Yes |
|
Comment |
|
Work Mans Information - No Information on Record
Subsidiaries Information - No Information on Record
Employees
|
Number of
Employees |
78 |
|||
|
1.
Salaried employees |
26 |
|||
|
2. Waged
employees |
52 |
|||
|
3.
Permanent employees |
|
|||
|
4.
Casual employees |
|
|||
|
5.
Contracted employees |
|
|||
|
Comment |
|
|||
|
Company Fleet |
||||
|
Company
Fleet |
No of
vehicles: |
Ownerd/Leased |
Value |
Outstanding
Balance |
|
Fleet
Operations |
|
|||
|
The
Fleet is made up of |
9 |
|||
|
Comment |
|
|||
|
Cars |
3 |
Leased |
|
|
|
Trucks |
3 |
Owned |
|
|
|
Fork
Lifts 3 Owned |
||||
|
Offices |
Offices |
|
Head
Office Owned/ Rented |
Leased |
|
Rental
Company |
WIRE
PRODUCTS PROPERTIES (PTY) LTD (group company) |
|
Owned by |
|
|
Value |
|
|
Bond |
|
|
Bank |
|
|
Lease
Agreement |
Renew
every year, no expiry |
|
Lease Expire
Date |
|
|
Type of
Premises |
3 office
blocks, 2 warehouses, large factory |
|
Comment |
|
Branch Information - No Information on Record
Organisational Chart - No Information on Record
Company Structure (Ownership)
|
Holding |
Company |
Sub |
Comment |
|
100 % -
NOVAMITTAL SA |
WIRE
PRODUCTS STAINLESS STEEL (PTY) LTD |
|
|
Key Deals - No Information on Record
|
Trade
Reference nr |
Supplier |
Contact |
Surety
Value |
Notarial
Bonds |
Comment |
|
1 |
SANTOVA
LOGISTICS |
0313747000 |
|
|
|
|
2 |
COMIR
INDUSTRIAL SA CC |
0164549744 |
|
|
|
|
3 |
PRINTWELL
PRESS |
0119143375 |
|
|
|
Trade References Detail
|
Nr |
Age of
Acc |
Credit
Limit |
Max
Credit |
Terms |
Average
Purchases |
Terms Taken |
Comment |
|
1 |
1 Years |
R
3500000.00 |
R
2000000 |
30 Days |
R1500000 |
30 Days |
Very
good account |
|
2 |
3 Months |
R15000.00 |
R 6000 |
30 Days |
R 6000 |
30 Days |
Very
good account |
|
3 |
4 Year |
|
R 20000 |
30 Days |
R10000 |
30 Days |
Very
good account. The subject has an open account with the supplier. |
Judgements - No information on record BusinessRescue - No Information on Record
Default Listing - No information on record
Notarial Bonds - No information on record
|
Bank |
FIRST
NATIONAL BANK |
|
Branch |
DTS
JOHANNESBURG |
|
Brach
Code |
250655 |
|
Bank
Account Number |
62352880457 |
|
Type of
Account |
Current |
|
Account
Name |
WIRE PRODUCTS
STAINLESS STEEL (PTY) LTD |
|
Overdraft
Facilities |
Yes |
|
Bank
Code |
C FOR R
3 500 000 |
|
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
Property Interests for CompanyWIRE PRODUCTS STAINLESS STEEL
(PTY)LTD
|
Title
Deed No. |
T47899/2008 |
Erf/Site
No. |
|
|
Deeds
Office |
PRETORIA |
Physical
Address |
EAST RAND
PTY MINES GERMISTON |
|
Property
Type |
Farms |
Extent /
Size |
2.3788H |
|
Purchase
Date |
2007/06/14 |
Purchase
price |
|
|
%
Ownership |
0.00 |
Bond
Holder |
VISIC
NEVENKA |
|
Bond
Number |
VA146682008 |
Bond
Amount |
|
|
Comment |
|
||
|
Number
of Principals |
3 |
|
Average
Age of Active Principals |
41 |
|
Active Principals Principal - 1of 3 SEAN LAUTENBERG |
|
|
Surname |
LAUTENBERG |
|
First
Name |
SEAN |
|
Other
Names |
None |
|
Marital
Status |
Married |
|
ID
Number |
7407305153082 |
|
Verified
ID Number |
Yes |
|
Current
Age |
38 Years
11 Months |
|
Designation |
Director |
|
Status |
Active |
|
Appointment
Date |
2012/05/01 |
|
Physical
Address (at time of Appointment) |
430B FIREWOOD
STREET, THATCHFIELD GARDENS, THE REEDS, CENTURION, 0157 |
|
Postal
Address |
P O BOX
592, RASLOUW, RASLOUW, 0109 |
|
Current
Tel Number |
0118247600 |
|
Cell
number |
0827878244 |
|
Shareholding/Membership |
|
Business Information for SEAN LAUTENBERG
Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
WIRE
PRODUCTS STAINLESS STEEL (PTY)LTD |
M1996/012262/07 |
In
Business |
17 Years
5 Months |
0 |
No |
|
Principal Previous Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
PROTEGE
MARKETING CC |
B2007/023670/23 |
Deregistration
Final |
6 Years
6 Months |
0 |
No |
|
Principal Deeds Information
Property
Interests forSEAN LAUTENBERG
|
Title
Deed No. |
ST41011/2011 |
Erf/Site
No. |
4678,0 |
|
Deeds
Office |
PRETORIA |
Physical
Address |
THATCHFIELD
CENTURION |
|
Property
Type |
Sectional
Title |
Extent /
Size |
180.0SQM |
|
Purchase
Date |
2010/10/14 |
Purchase
price |
|
|
%
Ownership |
0.00 |
Bond
Holder |
STANDARD
BANK OF SOUTH AFRICA L |
|
Bond
Number |
SB267562011 |
Bond
Amount |
|
|
Comment |
|
||
|
Property
Interests forSEAN LAUTENBERG |
|||
|
Title Deed
No. |
T60557/2003 |
Erf/Site
No. |
|
|
Deeds
Office |
JOHANNESBURG |
Physical
Address |
2310
SEKELBOS RANGEVIEW KRUGERSDORP |
|
Property
Type |
Freehold |
Extent /
Size |
1040.0SQM |
|
Purchase
Date |
2003/06/08 |
Purchase
price |
|
|
%
Ownership |
0.00 |
Bond
Holder |
A B S A
BANK LTD |
|
Bond
Number |
B428172003 |
Bond
Amount |
|
|
Comment |
|
||
Principal - 2of 3 LUCA CAPSONI
|
Surname |
CAPSONI |
|
First
Name |
LUCA |
|
Other
Names |
None |
|
Marital
Status |
Married |
|
ID
Number |
D879585 |
|
Verified
ID Number |
No |
|
Current
Age |
35 Years
5 Months |
|
Designation |
Director |
|
Status |
Active |
|
Appointment
Date |
2011/12/01 |
|
Physical
Address (at time of Appointment) |
VIA FLLI
BRONZETTI N 17, COMO (CO), ITALY, 22100 |
|
Postal Address |
P O BOX
23, RANCATE (CH), RANCATE (CH), SWITZERLAND, 6862 |
|
Current
Tel Number |
0118241528 |
|
Cell
number |
|
|
Shareholding/Membership |
0.00 |
Business Information forLUCA CAPSONI
Principal Current Business Interests
|
Company Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
WIRE
PRODUCTS STAINLESS STEEL (PTY)LTD |
M1996/012262/07 |
In
Business |
17 Years
5 Months |
0 |
No |
|
EUGENIO MARZORATI
|
Surname |
MARZORATI |
|
First
Name |
EUGENIO |
|
Other
Names |
None |
|
Marital
Status |
Married |
|
ID
Number |
620318 |
|
Verified
ID Number |
No |
|
Current
Age |
51 Years
3 Months |
|
Designation |
Director |
|
Status |
Active |
|
Appointment
Date |
2006/05/25 |
|
Physical
Address (at time of Appointment) |
CASA
BORRI, NOVAZZANO, SWITZERLAND, ''0000 |
|
Postal
Address |
CASA
BORRI, NOVAZZANO, SWITZERLAND, ''0000 |
|
Current
Tel Number |
0118241528 |
|
Cell
number |
|
|
Shareholding/Membership |
|
Business Information forEUGENIO MARZORATI Principal Current
Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
WIRE
PRODUCTS STAINLESS STEEL (PTY)LTD |
M1996/012262/07 |
In
Business |
17 Years
5 Months |
0 |
No |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
|
1 |
Rs.101.48 |
|
Euro |
1 |
Rs.84.11 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.