|
Report Date : |
10.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
INNOMET CC |
|
|
|
|
Registered Office : |
Unit 3 Ground Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
06.07.2001 |
|
|
|
|
Com. Reg. No.: |
B2001/046017/23 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
· importer of Metallurgical equipment. subject supplies to the metallurgical
and Chemical Industry. Manufacturer of other Chemical
Products |
|
|
|
|
No of Employees : |
05 |
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 |
|
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 |
INNOMET CC |
|
Country |
South Africa |
|
Subject Contact Person |
JOACHIM SPIETH - Member |
|
Assessment |
This is an established business. On investigation contact was made with JOACHIM SPIETH the member of the business who assisted with the required information. The subject is meeting commitments timeously with their suppliers. Please see the available information on the subject below. |
|
Registered Name |
INNOMET CC |
|
Trading as/ Division Name |
INNOMET |
|
Previous Name |
None |
|
Date of Name Change |
None |
|
Registration Number |
B2001/046017/23 |
|
Registration Date |
2001/07/06 |
|
Date Commenced Trading |
2001-07-06 |
|
Age of Business |
13 Years |
|
History of Business |
The business is in operation for the past 13 years. |
|
History of Principals |
There are 2 active members within the business. |
|
Shareholders/Members/Partners of subject and % holding |
82 % - JOACHIM SPIETH, 18 % - DM DICKINSON |
|
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 import Metallurgical equipment. |
|
Industry/ Customers |
The subject supplies to the metallurgical and chemical industry. |
|
Export |
Yes |
|
Import |
Yes |
|
Major Industry Code / SICC |
33599 |
|
Definition of Code |
Manufacture of other chemical products |
|
Head Office Physical Address |
UNIT 3 GROUND FLOOR, 27 LINKSFIELD ROAD DUNVEGAN, EDENVALE, 1609 |
|
Head Office Postal Address |
PO BOX 493, BRUMA, 2026 |
|
Current Tel Number |
0114532330 |
|
Cell Number |
Unavailable |
|
Current Fax Number |
0114532356 |
|
Current Email Address |
|
|
Web Site Address |
Unavailable |
|
Company Registered Name |
J MARKS |
|
Trading Name |
J MARKS |
|
Registration Number |
Unavailable |
|
Physical Address |
Unavailable |
|
Postal Address |
PO BOX 55300, NORTHLANDS, 0116 |
|
Contact Person |
JOHNNY MARKS |
|
Contact Number |
0824592428 |
|
Email |
|
|
Judgements Against Subject |
Unavailable |
|
Judgements Against Principals |
Unavailable |
|
Subject Verified as Client |
Yes |
|
Practice Number |
00191879 |
|
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 |
4370199384 |
|
Status |
ACTIVE |
|
Vat Liable Date |
2002/02/01 |
|
Tax Number |
9282277145 |
|
Tax Clearance Expire Date |
2014/07/01 |
|
Financial Year End |
January |
Black Economic
Empowerment Information - No Information on Record
ISO Information - No
Information on Record
|
Registered |
Yes |
|
Compliance Certified |
Yes |
Subsidiaries Information - No Information on Record
Employees
|
Number of Employees |
5 |
|
1. Salaried employees |
5 |
|
2. Waged employees |
0 |
|
3. Permanent employees |
5 |
|
4. Casual employees |
0 |
|
5. Contracted employees |
0 |
Company Fleet
Information - No Information on Record
|
Offices |
Offices |
|
Head Office Owned/ Rented |
Leased |
|
Rental Company |
BRESBOU CONSTRUCTION |
|
Lease Agreement |
2 Years |
|
Lease Expire Date |
2015-01-01 |
|
Type of Premises |
Offices |
Branch Information -
No Information on Record
Organisation Chart
Level Position Name
1 Owner J. SPIETH
2 Member DM SICKINSON
Company Structure
(Ownership)
Note:
One level up and all levels down
|
Holding |
Company |
Sub |
|
82% - JOACHIM SPIETH |
INNOMET CC |
None |
|
18% - DAVID
MURRAY DICKINSON |
INNOMET CC |
None |
Key deals signed
within the past 12 months.
|
Company |
Value |
Contact |
|
SASOL SYNFUELS |
R 3000000.00 |
KESHNEE SINGH 017 610 3836 |
|
FRY'S METALS |
R 5000000.00 |
DEIDRE NAICK 011 827 5413 |
Trade References
|
Trade Reference nr |
Supplier |
Contact |
|
1 |
SASOL SYNFUELS |
0176101111 |
|
2 |
ASA METALS |
0132307649 |
|
3 |
AEROCELL |
0118155045 |
Trade References
Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
11 Years |
R1500000.00 |
R1500000 |
30 Days |
R1000000 |
30 Days |
Very good account |
|
2 |
|
|
|
|
|
|
The subject
declined to provide a trade reference |
|
3 |
2 Years |
R1500000.00 |
R1400000 |
30 Days |
R 500000 |
30 Days |
Excellent account. |
Judgements - No information on record
Business Rescue - No Information on Record
Default Listing - No information on record
Notarial Bonds - No information on record
|
Bank |
FIRST NATIONAL BANK |
|
Branch |
FOURWAYS |
|
Brach Code |
250655 |
|
Bank Account Number |
62026800939 |
|
Type of Account |
CURRENT |
|
Account Name |
INNOMET CC |
|
Overdraft Facilities |
YES |
|
Bank Code |
C - R 1 500 000 |
|
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 Company INNOMET CC
|
Title Deed No. |
ST10926/2010 |
Erf/Site No. |
173508,0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
204 LONG CAPE TOWN |
|
Property Type |
Sectional Title |
Extent / Size |
|
|
Purchase Date |
2009/07/08 |
Purchase price |
R1218900.00 |
|
% Ownership |
0.00 |
Bond Holder |
FIRSTRAND BANK LTD |
|
Bond Number |
SB46312010 |
Bond Amount |
R1500000.00 |
|
Title Deed No. |
ST10926/2010 |
Erf/Site No. |
173508,0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
204 LONG CAPE TOWN |
|
Property Type |
Sectional Title |
Extent / Size |
|
|
Purchase Date |
2009/07/08 |
Purchase price |
R1218900.00 |
|
% Ownership |
0.00 |
Bond Holder |
FIRSTRAND BANK LTD |
|
Bond Number |
SB46312010 |
Bond Amount |
R1500000.00 |
|
Title Deed No. |
ST11264/2010 |
Erf/Site No. |
173508,0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
204 LONG CAPE TOWN |
|
Property Type |
Sectional Title |
Extent / Size |
|
|
Purchase Date |
2009/07/08 |
Purchase price |
R1218900.00 |
|
% Ownership |
0.00 |
Bond Holder |
FIRSTRAND BANK LTD |
|
Bond Number |
SB47502010 |
Bond Amount |
R1500000.00 |
|
Title Deed No. |
ST11264/2010 |
Erf/Site No. |
173508,0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
204 LONG CAPE TOWN |
|
Property Type |
Sectional Title |
Extent / Size |
|
|
Purchase Date |
2009/07/08 |
Purchase price |
R1218900.00 |
|
% Ownership |
0.00 |
Bond Holder |
FIRSTRAND BANK LTD |
|
Bond Number |
SB47502010 |
Bond Amount |
R1500000.00 |
|
Title Deed No. |
T51948/2007 |
Erf/Site No. |
22 |
|
Deeds Office |
JOHANNESBURG |
Physical Address |
12 SAINT ANNE 2284-0190-000 EDENVALE |
|
Property Type |
Farms |
Extent / Size |
995.00000000 |
|
Purchase Date |
2007/04/23 |
Purchase price |
R1375000.00 |
|
% Ownership |
0.00 |
Bond Holder |
FIRSTRAND BANK LTD |
|
Bond Number |
B698512007 |
Bond Amount |
R1400000.00 |
|
Title Deed No. |
T145432/2007 |
Erf/Site No. |
338 |
|
Deeds Office |
PRETORIA |
Physical Address |
BRAKPAN |
|
Property Type |
Small Holding |
Extent / Size |
|
|
Purchase Date |
2007/04/13 |
Purchase price |
R1602000.00 |
|
% Ownership |
0.00 |
Bond Holder |
FIRSTRAND BANK LTD |
|
Bond Number |
B1747882007 |
Bond Amount |
R 2000000.00 |
|
Title Deed No. |
T64020/2006 |
Erf/Site No. |
124 |
|
Deeds Office |
JOHANNESBURG |
Physical Address |
90 14TH 2284-0000-000 EDENVALE |
|
Property Type |
Freehold |
Extent / Size |
|
|
Purchase Date |
2006/08/10 |
Purchase price |
R715000.00 |
|
% Ownership |
0.00 |
Bond Holder |
FIRSTRAND BANK LTD |
|
Bond Number |
B896122006 |
Bond Amount |
R 750000.00 |
|
Title Deed No. |
T30071/2006 |
Erf/Site No. |
124 |
|
Deeds Office |
JOHANNESBURG |
Physical Address |
89 13TH 2284-0000-000 EDENVALE |
|
Property Type |
Freehold |
Extent / Size |
|
|
Purchase Date |
2006/02/06 |
Purchase price |
R 825000.00 |
|
% Ownership |
0.00 |
Bond Holder |
FIRSTRAND BANK LTD |
|
Bond Number |
B447592006 |
Bond Amount |
R 800000.00 |
|
CURRENT ASSETS |
R 31308118.00 |
|
Stock |
R 2721686.00 |
|
Debtors |
R 8403487.00 |
|
FIXED ASSETS |
R 6184207.00 |
|
Property |
R 6184207.00 |
|
CURRENT LIABILITIES |
R 23099023.00 |
|
Creditors |
R 8198443.00 |
|
Morgage Bonds |
R 2000337.00 |
|
Previous Year Turnover |
R 64568281.00 |
|
Estimated Current Year Turnover |
R 70011965.00 |
|
Current Turnover per month |
R 5000000.00 |
|
Current Turnover per annum |
R 60000000.00 |
|
Comment |
|
|
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 |
|
Number of Principals |
2 |
|
Average Age of Active Principals |
56 |
Active Principals
Principal - 1 of 2
DAVID DICKINSON
|
Surname |
DICKINSON |
|
First Name |
DAVID |
|
Other Names |
MURRAY |
|
ID Number |
5601030000000 |
|
Verified ID Number |
No |
|
Current Age |
58 Years 6 Months |
|
Designation |
MEMBER |
|
Status |
Active |
|
Appointment Date |
2004/01/08 |
|
Physical Address (at time of Appointment) |
FLAT 1 35 GERGES CRESCENT, DRUMMOYNE NSE 2047, AUSTRALIA, 0000 |
|
Postal Address |
P O BOX 2714, CRAMERVIEW, 2060 |
|
Shareholding/Membership |
18°% |
Principal's Adverse -
No information on record
Business Information
for DAVID DICKINSON
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
CARBON GRAPHITE SHAFTS AND ROTOR MANUFACTURERS CC |
B2002/069903/23 |
Deregistration Process |
0 |
1 |
No |
|
|
INNOMET CC |
B2001/046017/23 |
In Business |
13 Years 1 Months |
0 |
No |
|
|
ROB FONTO ELECTRICAL CC |
B1994/024202/23 |
Deregistration Process |
20 Years 8 Months |
0 |
No |
|
|
TELLAP DISTRIBUTORS (PTY)LTD |
M2005/044032/07 |
In Business |
9 Years 9 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 |
|
POLAR BLASTING CC |
B2000/070888/23 |
Deregistration Final |
14 Years 2 Months |
0 |
No |
|
Principal - 2 of 2
JOACHIM SPIETH
|
Surname |
SPIETH |
|
First Name |
JOACHIM |
|
Other Names |
None |
|
ID Number |
6011225038083 |
|
Verified ID Number |
Yes |
|
Current Age |
53 Years 8 Months |
|
Designation |
OWNER |
|
Status |
Active |
|
Appointment Date |
2001/07/06 |
|
Physical Address (at time of Appointment) |
11A FLEMING STREET, MILL HILL, BRYANSTON, GAUTENG, 2021 |
|
Postal Address |
P O BOX 2714, CRAMERVIEW, 2060 |
|
Current Tel Number |
0114520581 |
|
Cell number |
0722365339 |
|
Shareholding/Membership |
82 % |
Principal's Adverse -
No information on record
Business Information
for JOACHIM SPIETH
Principal Current Business
Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
CARBON GRAPHITE SHAFTS AND ROTOR MANUFACTURERS CC |
B2002/069903/23 |
Deregistration Process |
0 |
1 |
No |
|
INNOMET CC |
B2001/046017/23 |
In Business |
13 Years 1 Months |
0 |
No |
|
LESWIKENG CARBON (PTY)LTD |
M2000/030234/07 |
In Business |
14 Years 2 Months |
0 |
No |
|
ROB FONTO ELECTRICAL CC |
B1994/024202/23 |
Deregistration Process |
20 Years 8 Months |
0 |
No |
|
TUCK ESTATES (PTY)LTD |
M1999/004097/07 |
In Business |
15 Years 3 Months |
0 |
No |
Principal Previous Business Interests
Average Age of Previous Business 12 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
IZINGANEKWANE-VISIONS OF AFRICA CC |
2004/000381/23 |
Deregistration Final |
10 Years 10 Months |
0 |
No |
|
MATECH CC |
B2002/080807/23 |
In Business |
|
0 |
No |
|
POLAR BLASTING CC |
B2000/070888/23 |
Deregistration Final |
14 Years 2 Months |
0 |
No |
|
TECHNICAL AND INDUSTRIAL RESOURCES CC |
B1989/011625/23 |
Deregistration Final |
25 Years 1 Months |
0 |
No |
Principal Deeds
Information
Property Interests for
JOACHIM SPIETH
|
Title Deed No. |
T28819/2013 |
Erf/Site No. |
4555 |
|
Deeds Office |
PRETORIA |
Physical Address |
BRYANSTON EXT 28 |
|
Property Type |
E |
Extent / Size |
982.0SQM |
|
Purchase Date |
2012/10/29 |
Purchase price |
R 4800000.00 |
|
% Ownership |
0.00 |
Bond Holder |
BAYVEL CLOVIS EUGENE ST CLAIR |
|
Bond Number |
K32321999S |
Bond Amount |
R 0.00 |
Property Interests
for JOACHIM SPIETH
|
Title Deed No. |
T34944/2010 |
Erf/Site No. |
1740 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
ST FRANCIS BAY ST FRANCIS BAY |
|
Property Type |
E |
Extent / Size |
-- |
|
Purchase Date |
2010/03/24 |
Purchase price |
R 470000.00 |
|
% Ownership |
0.00 |
Bond Holder |
-- |
|
Bond Number |
-- |
Bond Amount |
R 0.00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.73 |
|
UK Pound |
1 |
Rs.102.36 |
|
Euro |
1 |
Rs.81.38 |
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.