MIRA INFORM REPORT

Report Date :

16.07.2014

IDENTIFICATION DETAILS

Name :	TATE AND LYLE SOUTH AFRICA (PTY)LTD
Registered Office :	1 Gravel Drive, Kay Sand Business Park, Kya Sand, 2194
Country :	South Africa
Date of Incorporation :	30.11.1989
Com. Reg. No.:	M1989/007094/07
Legal Form :	Private Company
Line of Business :	· engaged in Providing Distinctive, High Quality Ingredients and solutions to the Food, Beverage and tobacco Industries Engaged in wholesaling food, beverages & tobacco Subject operates through two global business units :- § Speciality Food Ingredients § Bulk Ingredients.
No. of Employees	47

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	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 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	TATE AND LYLE SOUTH AFRICA (PTY)LTD
Country	South Africa
Subject Contact Person	SIPHIWE HLONGWANE - Financial Director
Assessment	This is an established business. On investigation contact was made with SIPHIWE HLONGWANE the financial director who declined to assist with the banking information. We could not obtain a payment pattern due as the subject considers its suppliers to be confidential. Attempts to make contact with him proved to be unsuccessful as he was not in the office. Please see the available information on the subject below.

Company information

Registered Name	TATE AND LYLE SOUTH AFRICA (PTY)LTD
Trading as/ Division Name	None
Previous Name	None
Date of Name Change	None
Registration Number	M1989/007094/07
Registration Date	1989/11/30
Date Commenced Trading	1989-11-30
Age of Business	24 Years 8 Months
History of Business	The subject commenced trading as a new company in 1989.
History of Principals	There are 2 active directors within the company.
Shareholders/Members/Partners of subject and % holding	100% - TATE AND LYLE INVESTMENTS (LONDON)
Authorised Share Capital	R 0.00
Issued Share Capital/Members Contribution	R1000.00
Status	In Business
Operations Assessment	engaged in Providing Distinctive, High Quality Ingredients and solutions to the Food, Beverage and tobacco Industries · Engaged in wholesaling food, beverages & tobacco Subject operates through two global business units :- § Speciality Food Ingredients § Bulk Ingredients.
Industry/ Customers	Wholesalers, Tiger brands, SAB Miller, Danone and Coca Cola
Export	None
Import	Yes
Import Countries	China
Major Industry Code / SICC	62209
Definition of Code	Other retail trade in food, beverages and tobacco n.e.c.
Head Office Physical Address	1 GRAVEL DRIVE, KAY SAND BUSINESS PARK, KYA SAND, 2194
Head Office Postal Address	PO BOX 279, NORTHRIDING, 2162
Current Tel Number	0117089100
Cell Number	0832697908
Current Fax Number	0117083318
Current Email Address	siphiwe.hlongwane@tateandlyle.com
Web Site Address	www.tateandlyle.com

Auditors information

Company Registered Name	PRICEWATERHOUSECOPERS INC
Trading Name	None
Registration Number	M1998/012055/21
Physical Address	2 EGLIN ROAD, SUNNINGHILL, 2157
Postal Address	PRIVATE BAG X36, SUNNINGHILL, 2157
Contact Person	FRANK MAISVA
Contact Number	0112870862
Email	frank.maisva@za.pwc.za
Judgements Against Subject	Unavailable
Judgements Against Principals	Unavailable
Subject Verified as Client	Yes
Practice Number	901121
VAT Number	4950174682
Tax Number	9343032844
BEE Status	Unavailable
Financial Year End	June
No of years in Business	7 Years
Website	www.pwc.co.za

Previous Auditors Information - No Information on Record

Tax information

Vat Number	4890160056
Status	ACTIVE
Vat Liable Date	1996/08/01
Tax Number	9165507840
Financial Year End	March

Black Economic Empowerment

Status	Yes
Score	7.00
BEE Certificate Available	No

ISO Information - No Information on Record

Workman's compensation

Registered	Yes
Compliance Certified	Yes

Company Structure

Subsidiaries Information - No Information on Record

Employees

Number of Employees	47
1. Salaried employees	43
2. Waged employees	4
3. Permanent employees	43
4. Casual employees	---
5. Contracted employees	4

Company Fleet

Company Fleet	No of vehicles:	Owned/Leased	Value	Outstanding Balance
The Fleet is made up of	13
Cars	7	Leased
Trucks	4	Leased
Fork Lifts	2	Leased

Offices

Offices	Offices
Head Office Owned/ Rented	Leased
Rental Company	Unavailable
Owned by	N/A
Lease Agreement	Unavailable
Lease Expire Date	Unavailable
Type of Premises	Warehouse with office block

Branch Information - No Information on Record

Management Overview

Organisation Chart

Level	Position	Name	Comment
1	ADRIAN DIEDRICK REID	DIRECTOR
1	FINANCIAL DIRECTOR	SIPHIWE EMMANUEL HLONGWANE

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub
100% - TATE AND LYLE INVESTMENT ( LONDON)	TATE AND LYLE SOUTH AFRICA (PTY) LTD	NONE

Key Deals - No Information on Record

Trade References Information - No Information on Record

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 - No Information on Record

Bank Code History - No Information on Record

Previous Bank Account Information - No Information on Record

Deeds Information - No information on record

Financial Estimates

Previous Year Turnover	R 220000000.00
Current Turnover per annum	R 225000000.00

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	2
Average Age of Active Principals	43

Active Principals Principal - 1 of 2 SIPHIWE HLONGWANE

Surname	HLONGWANE
First Name	SIPHIWE
Other Names	EMMANUEL
ID Number	7702095315085
Verified ID Number	Yes
Current Age	37 Years 5 Months
Designation	Director
Status	Active
Appointment Date	2008/09/29
Physical Address (at time of Appointment)	7 LUDERITZ COMPLEX, STRUTT STREET, HONEYDEWRIDGE, 2040
Postal Address	PO BOX 279, NORTHRIDING, 2162
Current Tel Number	0117089115
Cell number	0832697908
Shareholding/Membership	0.00

Principal's Adverse - No information on record

Business Information for SIPHIWE HLONGWANE

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation
TATE AND LYLE SOUTH AFRICA (PTY)LTD	M1989/007094/07	In Business	25 Years 1 Months	0	No

Principal Deeds Information

Property Interests for SIPHIWE HLONGWANE

Title Deed No.	T71638/2005	Erf/Site No.	2446
Deeds Office	JOHANNESBURG	Physical Address	2446 VIOLINA GELUKSDAL BRAKPAN
Property Type	E	Extent / Size
Purchase Date	2005/06/10	Purchase price	R 22000.00
% Ownership	0.00	Bond Holder
Bond Number		Bond Amount	R 0.00

Principal - 2 of 2 ADRIAN REID

Surname	REID
First Name	ADRIAN
Other Names	DIEDRICK
ID Number	6407025228181
Verified ID Number	Yes
Current Age	50 Years
Designation	Director
Status	Active
Appointment Date	1996/08/07
Physical Address (at time of Appointment)	12 ESHOWE ROAD, PAULSHOF, 2056
Postal Address	P O BOX 279,NORTHRIDING, 2162
Current Tel Number	0325257885
Cell number	0810117565
Shareholding/Membership	0.00

Principal's Adverse - No information on record

Business Information for ADRIAN REID

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
ADRIAN DIEDERICK REID	6407025228181		Unknown	0	No
TATE AND LYLE SOUTH AFRICA (PTY)LTD	M1989/007094/07	In Business	25 Years 1 Months	0	No

Principal Previous Business Interests

Average Age of Previous Business 20 Years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation
C J PETROW STEEL (PTY)LTD	M1992/001363/07	In Business	22 Years 10 Months	0	No
FAMLAT (PTY)LTD	M1971/002064/07	Dissolved	43 Years 7 Months	0	No
HEADSETSONLINE CC	B2004/049357/23	Deregistration Final	10 Years 10 Months	0	No
REID IMPORT AND EXPORT CC	B1991/012213/23	Deregistration Process	23 Years 11 Months	0	No
T O M S SOUND AND MUSIC (PTY)LTD	M1997/004027/07	In Business	17 Years 5 Months	0	No
TROPI-CUBE INVESTMENTS (PTY)LTD	M1997/004156/07	Deregistration Final	17 Years 5 Months	0	No
VOIPSTER CC	B2004/041110/23	Deregistration Final	10 Years 10 Months	0	No

Principal Deeds Information

Property Interests for ADRIAN REID

Title Deed No.	T98881/1998	Erf/Site No.	534
Deeds Office	PRETORIA	Physical Address	29 CHESHAM SANDTON
Property Type	F	Extent / Size	5392.00000000
Purchase Date	1998/04/18	Purchase price	R1100.00
% Ownership	0.00	Bond Holder
Bond Number		Bond Amount	R 0.00

Property Interests for ADRIAN REID

Title Deed No.	ST158136/2007	Erf/Site No.	1592,0
Deeds Office	PRETORIA	Physical Address	79 GRAYSTON MORNINGSIDE SANDTON
Property Type	U	Extent / Size
Purchase Date	2007/08/08	Purchase price	R1500000.00
% Ownership	0.00	Bond Holder
Bond Number	SK65862003S	Bond Amount	R 0.00

Property Interests for ADRIAN REID

Title Deed No.	T33330/2004	Erf/Site No.	118
Deeds Office	CAPE TOWN	Physical Address	PEARL VALLEY ESTATE
Property Type	F	Extent / Size	626.00000000
Purchase Date	2004/01/30	Purchase price	R1195000.00
% Ownership	0.00	Bond Holder
Bond Number		Bond Amount	R 0.00

Property Interests for ADRIAN REID

Title Deed No.	T3587/2006	Erf/Site No.	483
Deeds Office	CAPE TOWN	Physical Address	PEARL VALLEY ESTATE
Property Type	F	Extent / Size	1403.00000000
Purchase Date	2005/09/28	Purchase price	R 2290000.00
% Ownership	0.00	Bond Holder
Bond Number		Bond Amount	R 0.00

Property Interests for ADRIAN REID

Title Deed No.	T34381/2008	Erf/Site No.	1521
Deeds Office	PIETERMARITZBURG	Physical Address	8 RALPH''S SALT ROCK DOLPHIN COAST/BALLITO
Property Type	F	Extent / Size
Purchase Date	2008/04/18	Purchase price	R 5995000.00
% Ownership	0.00	Bond Holder
Bond Number		Bond Amount	R 0.00

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.22
UK Pound	1	Rs.102.79
Euro	1	Rs.81.95

INFORMATION DETAILS

Analysis Done by :	DIV
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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.