|
Report Date : |
03.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
CARATCO (PTY)LTD |
|
|
|
|
Registered Office : |
1st Floor, Block C, The Pivot At Montecasino, No.1
Montecasino, Boulevard, Fourways, 2055 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
24.07.2003 |
|
|
|
|
Com. Reg. No.: |
M2003/017551/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
·
manufacturer and distributor of
Large Diamonds, Gems and Jewelry ·
Engaged in MINING OF DIAMONDS (INCLUDING ALLUVIAL DIAMONDS) ·
manufacturers of The South African Ideal Cut range of jewellery · manufacturers, distributors and retailers with a comprehensive range of diamonds from the smallest polished stones to single diamonds of the highest quality. |
|
|
|
|
No of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 16th largest in the
world. Even though the country's modern infrastructure supports 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, albeit slowly with 2014 growth projected at about 2%.
Unemployment, poverty, and inequality - among the highest in the world - remain
a challenge. Official unemployment is at nearly 25% of the work force, and runs
significantly higher among black youth. Eskom, the state-run power company, has
built two new power stations and installed new power demand management programs
to improve power grid reliability. Construction delays at two additional
plants, however, mean South Africa is operating on a razor thin margin;
economists judge that growth cannot exceed 3% until those plants come on line.
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 |
CARATCO (PTY)LTD |
|
Country |
South Africa |
|
Subject Contact Person |
ZERA- Director PA / DELORT - Accountant |
|
Assessment |
On investigation contact was made with ZERA the directors PA and DELORT the accountant who both advised that the financial director, WES, is out of town and will assist on his return in the coming week. The subject advised that a questionnaire and a company profile to be sent to the financial director. Please see the available information on the subject below obtained from CIPC. |
|
Registered Name |
CARATCO (PTY)LTD |
|
Trading as/ Division Name |
CARATCO |
|
Previous Name |
Unavailable |
|
Date of Name Change |
2009-11-09 |
|
Registration Number |
M2003/017551/07 |
|
Registration Date |
2003/07/24 |
|
Date Commenced Trading |
2003-07-24 |
|
Age of Business |
11 Years |
|
History of Business |
The company was established in 1985. It began as a small wholesale company and through innovation and business expertise it grew into a well rounded company. It was registered under the name CARATCO (PTY) LTD and is trading for the past 11 years. |
|
History of Principals |
There are 4 active directors of the company. |
|
Shareholders/Members/Partners of subject and % holding |
Unavailable |
|
Authorised Share Capital |
R 0.00 |
|
Issued Share Capital/Members Contribution |
R 0.00 |
|
Status |
In Business |
|
Operations Assessment |
The subjects main operation is to manufacture and distribute large diamonds, gems and jewelry. manufacturers of The South African Ideal Cut range
of jewellery manufacturers, distributors and retailers with a comprehensive range of diamonds from the smallest polished stones to single diamonds of the highest quality. |
|
Industry/ Customers |
The general public, jewelry stores |
|
Export |
Yes |
|
Import |
Unknown |
|
Major Industry Code / SICC |
25200 |
|
Definition of Code |
MINING OF DIAMONDS (INCLUDING ALLUVIAL DIAMONDS) |
|
Head Office Physical Address |
1st Floor, Block C,
The Pivot at Montecasino, No.1 Montecasino, Boulevard, FOURWAYS, 2055 |
|
Head Office Postal Address |
PO Box 71511, BRYANSTON, 2021, South Africa |
|
Current Tel Number |
0110119100 |
|
Cell Number |
Unavailable |
|
Current Fax Number |
0110119190 |
|
Current Email Address |
|
|
Web Site Address |
|
Company Registered Name |
HARRIS DOWDEN AND FONTEINE |
|
Trading Name |
Unavailable |
|
Registration Number |
Unavailable |
|
Physical Address |
7 Pam Road, SANDTON, 2196 |
|
Postal Address |
P O BOX 657729, BENMORE, 2010 |
|
Contact Person |
HARRIS |
|
Contact Number |
0118847373 |
|
Email |
Unavailable |
|
Judgements Against Subject |
Unavailable |
|
Judgements Against Principals |
Unavailable |
|
Subject Verified as Client |
Yes |
|
Practice Number |
943703 |
|
VAT Number |
Unavailable |
|
Tax Number |
Unavailable |
|
BEE Status |
Unavailable |
|
Financial Year End |
Unavailable |
|
No of years in Business |
Unavailable |
|
Website |
Unavailable |
Previous Auditors Information - No Information on Record
|
Vat Number |
Unavailable |
|
Tax Number |
9457029842 |
|
Financial Year End |
Unavailable |
Black Economic
Empowerment Information - No Information on Record
ISO Information - No
Information on Record
Work Mans Information
- No Information on Record
Subsidiaries Information
- No Information on Record
Employees Information
- No Information on Record
Company Fleet
Information - No Information on Record
Offices Information -
No Information on Record
Branch Information -
No Information on Record
Organisation Chart
|
Level |
Position |
Name |
Comment |
|
1 |
Director |
SOMEN DAS |
|
|
1 |
Director |
VISHAL MEHTA |
|
|
1 |
Director |
WESLEY FARENCE MAKOVINI |
|
|
1 |
Director |
TIMOTHY WATSON |
|
Company Structure Information
- No Information on Record
Note: One level up and all
levels down
Key Deals - No
Information on Record
Trade References
Information - No Information on Record
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 - No
Information on Record
Bank Codes History
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD's |
RD amount |
RD Date |
Bank Comments |
Years with bank |
Comment |
|
2013/11/25 |
C- FOR R2000000 (Good for the amount quoted,
if strictly in the way of business.) |
0.00 |
|
|
|
The subject's bankers
consider them good for all business normal engagement s |
0 |
|
Previous Bank Account
Information - No Information on Record
Deeds Information -
No information on record
|
Number of Principals |
6 |
|
Average Age of Active Principals |
48 |
Active Principals
Principal - 1 of 4 SOMEN DAS
|
Surname |
DAS |
|
First Name |
SOMEN |
|
Other Names |
None |
|
ID Number |
5506270000000 |
|
Verified ID Number |
No |
|
Current Age |
59 Years 1 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
2007/08/23 |
|
Physical Address (at time of Appointment) |
NO 3 SAN RAPHAEL, BERRIL LANE, MORNINGSIDE, 2196 |
|
Postal Address |
P O BOX 2326, JOHANNESBURG, GAUTENG, 2000 |
|
Current Tel Number |
Unavailable |
|
Cell number |
Unavailable |
|
Shareholding/Membership |
0.00 |
Principal's Adverse -
No information on record
Business Information
for SOMEN DAS
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
CARATCO (PTY)LTD |
M2003/017551/07 |
In Business |
11 Years 11 Months |
0 |
No |
|
|
EPISTEME COAL SA
(PTY)LTD |
M2008/006308/07 |
Deregistration Process |
6 Years 6 Months |
0 |
No |
|
|
EPISTEME PARTNERS (PTY)LTD |
M2007/030856/07 |
Deregistration Process |
7 Years 7 Months |
0 |
No |
|
|
ROSY BLUE INVESTMENTS (PTY)LTD |
M2003/012502/07 |
In Business |
11 Years 11 Months |
0 |
No |
|
|
ROSY BLUE WIRELESS AFRICA (PTY)LTD |
M2007/032193/07 |
Deregistration Process |
7 Years 7 Months |
0 |
No |
|
|
ROSYBLUE MANUFACTURING (PTY)LTD |
M1966/008325/07 |
In Business |
0 |
0 |
No |
|
|
ROSYBLUE TRADING
(PTY)LTD |
M1988/002681/07 |
In Business |
26 Years 2 Months |
0 |
No |
|
Principal - 2 of 4
VISHAL MEHTA
|
Surname |
MEHTA |
|
First Name |
VISHAL |
|
Other Names |
None |
|
ID Number |
8004020000000 |
|
Verified ID Number |
No |
|
Current Age |
34 Years 5 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
2007/08/23 |
|
Physical Address (at time of Appointment) |
APARTMENT 2708, MICHAEL TOWERS, 8 MAUDE STREET, Gauteng, 2196 |
|
Postal Address |
P O BOX 2326, JOHANNESBURG, Gauteng, 2000 |
|
Current Tel Number |
Unavailable |
|
Cell number |
Unavailable |
|
Shareholding/Membership |
0.00 |
Principal's Adverse -
No information on record
Business Information
for VISHAL MEHTA
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
CARATCO (PTY)LTD |
M2003/017551/07 |
In Business |
11 Years 11 Months |
0 |
No |
|
|
EPISTEME COAL SA
(PTY)LTD |
M2008/006308/07 |
Deregistration Process |
6 Years 6 Months |
0 |
No |
|
|
EPISTEME PARTNERS (PTY)LTD |
M2007/030856/07 |
Deregistration Process |
7 Years 7 Months |
0 |
No |
|
|
ROSY BLUE WIRELESS AFRICA (PTY)LTD |
M2007/032193/07 |
Deregistration Process |
7 Years 7 Months |
0 |
No |
|
|
TUFFSAN TRADING 258 (PTY)LTD |
M2007/032216/07 |
Deregistration Process |
7 Years 7 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 12 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
ROSY BLUE INVESTMENTS (PTY)LTD |
M2003/012502/07 |
In Business |
11 Years 11 Months |
0 |
No |
|
|
ROSYBLUE MANUFACTURING (PTY)LTD |
M1966/008325/07 |
In Business |
|
0 |
No |
|
|
ROSYBLUE TRADING (PTY)LTD |
M1988/002681/07 |
In Business |
26 Years 2 Months |
0 |
No |
|
Principal - 3 of 4
WESLEY MAKOVINI
|
Surname |
MAKOVINI |
|
First Name |
WESLEY |
|
Other Names |
None |
|
ID Number |
6905115052080 |
|
Verified ID Number |
Yes |
|
Current Age |
45 Years 2 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
2003/08/06 |
|
Physical Address (at time of Appointment) |
36 PARKWAY,FOURWAYS GARDENS, 2191 |
|
Postal Address |
P O BOX 71511, BRYANSTON, 2021 |
|
Current Tel Number |
0114656276 |
|
Cell number |
0828908514 |
|
Shareholding/Membership |
0.00 |
Principal's Adverse -
No information on record
Business Information for
WESLEY MAKOVINI
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
CARATCO (PTY)LTD |
M2003/017551/07 |
In Business |
11 Years 11 Months |
0 |
No |
|
|
JADWIGA JEWELLERY (PTY)LTD |
M2005/011794/07 |
In Business |
9 Years 9 Months |
0 |
No |
|
|
PANDA DIAMONDS (PTY)LTD |
M2006/009814/07 |
In Business |
8 Years 8 Months |
0 |
No |
|
|
WES MAKOVINI |
6905115052080 |
|
Unknown |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 12 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
ADARA JEWELLERY (PTY)LTD |
M1997/021416/07 |
In Business |
17 Years 5 Months |
0 |
No |
|
|
AFRICAN JEWELLERY AND DIAMONDS (PTY)LTD |
M2001/022277/07 |
Deregistration Final |
13 Years 1 Months |
0 |
No |
|
|
JEWELLERY
EXPERIENCE (PTY)LTD |
M2000/022022/07 |
In Business |
14 Years 2 Months |
0 |
No |
|
|
JOUEL (PTY)LTD |
M2010/005800/07 |
In Business |
4 Years 4 Months |
0 |
No |
|
Principal Deeds
Information
Property Interests for WESLEY MAKOVINI
|
Title Deed No. |
T15652/2010 |
Erf/Site No. |
1730 |
|
Deeds Office |
PRETORIA |
Physical Address |
30 PARK FOURWAYS GARDENS SANDTON |
|
Property Type |
E |
Extent / Size |
|
|
Purchase Date |
2010/01/15 |
Purchase price |
R 4650000.00 |
|
% Ownership |
0.00 |
Bond Holder |
ABSA BANK LTD |
|
Bond Number |
B107212010 |
Bond Amount |
R 2800000.00 |
Property Interests
for WESLEY MAKOVINI
|
Title Deed No. |
T54967/2000 |
Erf/Site No. |
6386 |
|
Deeds Office |
PRETORIA |
Physical Address |
93 KLASERIE MORELETAPARK |
|
Property Type |
F |
Extent / Size |
700.00000000 |
|
Purchase Date |
2000/04/25 |
Purchase price |
R 74900.00 |
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
R 0.00 |
Principal - 4 of 4
TIMOTHY WATSON
|
Surname |
WATSON |
|
First Name |
TIMOTHY |
|
Other Names |
None |
|
ID Number |
5712225245005 |
|
Verified ID Number |
Yes |
|
Current Age |
56 Years 7 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
2003/07/24 |
|
Physical Address (at time of Appointment) |
8 HIGHWICK RIOAD, KENILWORTH, CAPE TOWN, 7700 |
|
Postal Address |
P O BOX 71511, BRYANSTON, 2021 |
|
Current Tel Number |
0112744905 |
|
Cell number |
0824565868 |
|
Shareholding/Membership |
0.00 |
Principal's Adverse -
No information on record
Business Information
for TIMOTHY WATSON
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
CARATCO (PTY)LTD |
M2003/017551/07 |
In Business |
11 Years 11 Months |
0 |
No |
|
|
HARD ASSET
INVESTMENT BROKERS(PTY)LTD |
M1986/002467/07 |
Deregistration Process |
28 Years 4 Months |
0 |
No |
|
|
INTERCOLOUR GEMS CC |
B1991/029031/23 |
In Business |
23 Years 11 Months |
0 |
No |
|
|
PANDA DIAMONDS (PTY)LTD |
M2006/009814/07 |
In Business |
8 Years 8 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 19 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
||||
|
1ST AVENUE GOLD ACCEPTANCES (PTY)LTD |
M1996/012338/07 |
Deregistration Final |
18 Years 6 Months |
0 |
No |
|
||||
|
AFRICAN JEWELLERY AND DIAMONDS (PTY)LTD |
M2001/022277/07 |
Deregistration Final |
13 Years 1 Months |
0 |
No |
|
||||
|
AKOYA PEARLS CC |
B1993/012313/23 |
Deregistration Final |
21 Years 9 Months |
0 |
No |
|
||||
|
CARWAY PANELBEATERS CC |
B1991/029779/23 |
Deregistration Final |
23 Years 11 Months |
0 |
No |
|
||||
|
CONSTANTIA OAK PROPERTIES CC |
B1997/047414/23 |
Deregistration Final |
17 Years 5 Months |
0 |
No |
|
||||
|
CORPCLO 326 CC |
B1998/033883/23 |
Deregistration Process |
16 Years 4 Months |
0 |
No |
|
||||
|
CULLINAN DIAMONDS (PTY)LTD |
M2000/023394/07 |
In Business |
14 Years 2 Months |
0 |
No |
|
||||
|
DUNROSE INVESTMENTS 77 (PTY)LTD |
M2000/029079/07 |
Deregistration Final |
14 Years 2 Months |
0 |
No |
|
||||
|
FIRST GOLD TRADING CC |
B1995/025742/23 |
Deregistration Final |
19 Years 7 Months |
0 |
No |
|
||||
|
OLD VINEYARD PROPERTIES CC |
B1997/051176/23 |
Deregistration Final |
17 Years 5 Months |
0 |
No |
|
||||
|
OUWINGERD PROPERTIES CC |
B1997/047451/23 |
Deregistration Final |
17 Years 5 Months |
0 |
No |
|
||||
|
SECTION 14 HOLLYBANK ILLOVO CC |
B1997/064565/23 |
In Business |
17 Years 5 Months |
0 |
No |
|
||||
|
SUNSTAR DIAMOND CUTTERS CC |
B1992/030954/23 |
Deregistration Final |
22 Years 10 Months |
0 |
No |
|
||||
|
TANZANITE S A (PTY)LTD |
M1960/002580/07 |
Deregistration Final |
54 Years 6 Months |
0 |
No |
|
||||
|
TROPICAL COLLECTION (PTY)LTD |
M2006/011015/07 |
In Business |
8 Years 8 Months |
0 |
No |
|
||||
|
WATERSONG INVESTMENTS (PTY)LTD |
M1996/000559/07 |
Deregistration Final |
18 Years 6 Months |
0 |
No |
|
||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.97 |
|
UK Pound |
1 |
Rs.102.89 |
|
Euro |
1 |
Rs.82.02 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.