|
Report Date : |
04.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
SENIOR FLEXONICS SA (PTY) LTD |
|
|
|
|
Formerly Known As : |
SENIOR
AUTOMOTIVE (PTY) LTD |
|
|
|
|
Registered Office : |
11
Thor Circle, Viking Place, Thornton, Cape Town, 7460 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
07.02.1997 |
|
|
|
|
Com. Reg. No.: |
M1997/001702/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacture
of Exhaust Decuplers |
|
|
|
|
No. of Employees : |
230 |
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 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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 |
SENIOR
FLEXONICS SA (PTY)LTD T/A SENIOR AUTOMOTIVE |
|
Country |
South
Africa |
|
Subject
Contact Person |
JOHN
TENNENT - Director |
|
Assessment |
This
is an established business. On investigation contact was made with Director MR.
JOHN TENNENT who declined all financials.The subject is meeting commitments
timeously with it's suppliers. A bank code C was obtained for an amount of R
1 000 000 over a period of 30 days.Please see the available information on
the subject below. |
|
Registered
Name |
SENIOR
FLEXONICS SA (PTY)LTD |
|
Trading
as/ Division Name |
SENIOR
AUTOMOTIVE |
|
Previous
Name |
SENIOR
AUTOMOTIVE (PTY)LTD |
|
Date
of Name Change |
Sep
13 2010 12:00AM |
|
Registration
Number |
M1997/001702/07 |
|
Registration
Date |
1997/02/07 |
|
Date
Commenced Trading |
1997-02-07 |
|
Age
of Business |
16
Years 1 Months |
|
History
of Business |
The
subject was established as a new business in 1997 and operations commenced immediately.
It underwent a name change in September 2010. |
|
History
of Principals |
There
are currently 3 active directors within the business. |
|
Shareholders/Members/Partners
of subject and % holding |
100
% - SENIOR PLC |
|
Authorised
Share Capital |
R
0.00 |
|
Issued
Share Capital/Members Contribution |
R
0.00 |
|
Status |
In
Business |
|
Operations
Assessment |
Manufacture
of Exhaust Decuplers |
|
Industry/
Customers |
Automotive
Industry |
|
Export |
Yes |
|
Export
Countries |
|
|
Import |
|
|
Import
Countries |
|
|
Major
Industry Code / SICC |
38309 |
|
Definition
of Code |
Manufacture
of other motor vehicle parts and accessories |
|
Head
Office Physical Address |
11
THOR CIRCLE, VIKING PLACE, THORNTON, CAPE TOWN, 7460 |
|
Head
Office Postal Address |
P
O BOX 476, EPPINDUST, 7475 |
|
Current
Tel Number |
0215325307 |
|
Cell
Number |
|
|
Current
Fax Number |
0215325310 |
|
Current
Email Address |
|
|
Web
Site Address |
|
|
Comments |
A
further breakdown of the export countries were not made available. |
|
Company
Registered Name |
DELOITE
AND TOUCHE INC |
|
Trading
Name |
DELOITE
AND TOUCHE |
|
Registration
Number |
Unavailable |
|
Physical
Address |
27
Somerset Road, Cape Quarter, Green Point, Cape Town, 8005 |
|
Postal
Address |
P
O BOX 578, CAPE TOWN, 8000 |
|
Contact
Person |
ANDREW |
|
Contact
Number |
0214275300 |
|
Email |
Unavailable |
|
Principals |
250 |
|
Judgements
Against Subject |
None |
|
Judgements
Against Principals |
None |
|
Subject
Verified as Client |
Yes |
|
Practice
Number |
918547E |
|
VAT
Number |
Unavailable |
|
Tax
Number |
Unavailable |
|
BEE
Status |
Level
2 |
|
Financial
Year End |
Unavailable |
|
No
of years in Business |
16 |
|
Website |
Unavailable |
|
Comment |
|
Previous
Auditors
|
Company
Name |
Phone
Number |
Time
with previous auditors |
Comment |
|
ARTHUR
ANDERSON AND COMPANY |
|
16 |
|
|
Vat
Number |
4260164704 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
1997/04/01 |
|
Tax
Number |
9149419849 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
December |
|
Comment |
|
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 |
|
|
Number
of Employees |
230 |
|
1.
Salaried employees |
230 |
|
2.
Waged employees |
|
|
3.
Permanent employees |
230 |
|
4.
Casual employees |
|
|
5.
Contracted employees |
|
|
Comment |
|
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 |
JOHN
TENNENT |
|
|
|
|||
|
1 |
DIRECTOR |
MICHAEL
SHEPPARD |
|
|
|
|||
|
1 |
DIRECTOR |
ANTHONY
CHRISTOPHER MANCINI |
|
Company
Structure (Ownership)
Note: One level up and all
levels down
|
Holding |
Company |
Sub |
Comment |
|
100%-SENIOR
PLC |
SENIOR
FLEXONICS SA (PTY)LTD SENIOR AUTOMOTIVE |
None |
|
Key
Deals - No Information on Record
|
Trade
Reference nr |
Supplier |
Contact |
Surety
Value |
Notarial
Bonds |
Comment |
|
1 |
COLLUMBUS
STAINLESS STEEL |
0132479111 |
|
|
|
|
2 |
CAT
SUPPORT |
0217068138 |
|
|
|
|
3 |
NITMESH |
0414082500 |
|
|
|
Trade
References Detail
|
Nr |
Age
of Acc |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
|
1 |
13
Years |
30
Days |
R1700000 |
30
Days |
Excellent
account |
|
2 |
8
Years |
30
Days |
R
350000 |
30
Days |
Excellent
account |
|
3 |
8
Years |
30
Days |
R
350000 |
30
Days |
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 |
EPPING |
|
Brach
Code |
250655 |
|
Bank
Account Number |
56830006099 |
|
Type
of Account |
Current |
|
Account
Name |
SENIOR
FLEXONICS SA(PTY)LTD |
|
Overdraft
Facilities |
Yes |
|
Bank
Code |
C
for R 10 000 000 |
|
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 |
3 |
|
Average
Age of Active Principals |
53 |
|
Active Principals Principal - 1 of 3 JOHN TENNENT |
|
|
Surname |
TENNENT |
|
First
Name |
JOHN |
|
Other
Names |
None |
|
Marital
Status |
Married |
|
ID
Number |
5712135810187 |
|
Verified
ID Number |
Yes |
|
Current
Age |
56 |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2009/03/01 |
|
Physical
Address (at time of Appointment) |
4
TABORA WAY, NEWLANDS, CAPE TOWN, 7700 |
|
Postal
Address |
11
THOR CIRCLE, VIKING PLACE, THORNTON, CAPE TOWN, 7460 |
|
Current
Tel Number |
0219004315 |
|
Cell
number |
0836448864 |
|
Shareholding/Membership |
0.0000 |
Principal's
Adverse - No information on record
Business
Information for JOHN TENNENT
Principal's
Current Business Interests - No information on record
Principal's
Previous Business Interests - No information on record
Principal's
Deeds Information - No information on record
Principal - 2 of 3
MICHAEL WILLIAM
SHEPPARD
|
Surname |
SHEPPARD |
|
First
Name |
MICHAEL
WILLIAM |
|
Other
Names |
None |
|
Marital
Status |
|
|
ID
Number |
5901200000000 |
|
Verified
ID Number |
No |
|
Current
Age |
54 |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
1999/10/20 |
|
Physical
Address (at time of Appointment) |
7N230
BARB HILL DRIVE, ST CHARLES ILLINOIS, 60175, UNITED STATES, 0000 |
|
Postal
Address |
7N230
BARB HILL DRIVE, ST CHARLES ILLINOIS, 60175, UNITED STATES, 0000 |
|
Current
Tel Number |
0215325300 |
|
Cell
number |
|
|
Shareholding/Membership |
0.0000 |
Principal's
Adverse - No information on record
Business
Information for JOHN TENNENT
Principal's
Current Business Interests - No information on record
Principal's
Previous Business Interests - No information on record
Principal's
Deeds Information - No information on record
Principal - 3 of 3
ANTHONY MANCINI
|
Surname |
MANCINI |
|
First
Name |
ANTHONY |
|
Other
Names |
None |
|
Marital
Status |
Married |
|
ID
Number |
6207145129081 |
|
Verified
ID Number |
Yes |
|
Current
Age |
51 |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
1997/07/01 |
|
Physical
Address (at time of Appointment) |
6
ORCHARD STREET, NEWLAND, 7700 |
|
Postal
Address |
P
O BOX 476, EPPINDUST, 7475 |
|
Current
Tel Number |
0215325300 |
|
Cell
number |
0714275206 |
|
Shareholding/Membership |
0.0000 |
Principal's
Adverse - No information on record
Business
Information for JOHN TENNENT
Principal's
Current Business Interests - No information on record
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.59.72 |
|
|
1 |
Rs.102.45 |
|
Euro |
1 |
Rs.81.54 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NNA |
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.