MIRA INFORM REPORT

Report Date :

17.07.2014

IDENTIFICATION DETAILS

Name :	DERBY FEEDS AND SEEDS CC
Formerly Known As :	EM STORES
Registered Office :	77 Tramway Street, Turffontein, Johannesburg
Country :	South Africa
Date of Incorporation :	29.05.2002
Com. Reg. No.:	B2002/039411/23
Legal Form :	Private Company
Line of Business :	Subject Mainly Operates as a Distributor of Seeds, Foods and Household Pets.
No. of Employees :	13

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

company Name

Subject Name	DERBY FEEDS AND SEEDS CC
Country	South Africa
Subject Contact Person	FAREED EBRAHIM KATHRADA - Member
Assessment	This is an established business. On investigation contact was made with FAREED EBRAHIM KATHRADA the member of the business who assisted with all of the required information. The subject is meeting commitments timeously with their suppliers. We obtained a bank code C for a period of 30 days. Please see the available information on the subject below.

Company Information

Registered Name	DERBY FEEDS AND SEEDS CC
Trading as/ Division Name	TURF PET HYPER
Previous Name	EM STORES
Date of Name Change	2002-05-29
Registration Number	B2002/039411/23
Registration Date	2002/05/29
Date Commenced Trading	2002-05-29
Age of Business	12 Years 2 Months
History of Business	The business was established in the year 1967 under the trading name EM Stores. It underwent a name change in the year 2002 and is currently in operation for the past 12 Years and 2 Months under the name DERBY FEEDS AND SEEDS CC trading has TURF PET HYPER.
History of Principals	There is 1 active member within the business.
Shareholders/Members/Partners of subject and % holding	100% - FAREED EBRAHIM KATHRADA
Authorised Share Capital	R 0.00
Issued Share Capital/Members Contribution	R 0.00
Status	In Business
Operations Assessment	The subject mainly operates as a distributor of seeds, foods and household pets.
Industry/ Customers	The general public and pet stores.
Export	None
Export Countries
Import	Yes
Import Countries
Major Industry Code / SICC	30401
Definition of Code	MANUFACTURE OF FOOD PREPARATION PRODUCTS
Head Office Physical Address	77 TRAMWAY STREET, TURFFONTEIN, JOHANNESBURG, SOUTH AFRICA
Head Office Postal Address	P O BOX 1330, CROWN MINES, JOHANNESBURG, 2025
Current Tel Number	0114342596
Cell Number	0823708609
Current Fax Number	None
Current Email Address	turfhyper@telkomsa
Web Site Address	www.turfhyper.co.za
Comments

Auditors Information

Company Registered Name	LAMBAT AND POCHEE
Trading Name	LAMBAT AND POCHEE
Registration Number	Unavailable
Physical Address	39 PARK DRIVE, MAYFAIR, 2092
Postal Address	P O BOX 42126, FORDBURG, 2125
Contact Person	SOPHIA
Contact Number	0118379663
Email	lampochs@offinet.co.za
Principals
Judgements Against Subject	Unavailable
Judgements Against Principals	Unavailable
Subject Verified as Client	Yes
Practice Number	943290
VAT Number	Unavailable
Tax Number	Unavailable
BEE Status	Unavailable
Financial Year End	Unavailable
No of years in Business	Unavailable
Website	Unavailable
Comment

Previous Auditors Information - No Information on Record

Tax Information

Vat Number	4830199701
Status	ACTIVE
Vat Liable Date	2002/08/01
Tax Number	9505256140
Tax Clearance Expire Date	2015/07/14
Financial Year End	February
Comment

Black Economic Empowerment Information - No Information on Record

ISO Information - No Information on Record

Workman's compensation

Registered	Yes
Compliance Certified	Yes
Comment

Company Structure

Subsidiaries Information - No Information on Record

Employees

Number of Employees	13
1. Salaried employees	13
2. Waged employees	0
3. Permanent employees	13
4. Casual employees	0
5. Contracted employees	0
Comment

Company Fleet

Company Fleet	No of vehicles:	Ownerd/Leased	Value	Outstanding Balance
Fleet Operations
The Fleet is made up of	3
Comment
Cars	1	Owned
Light delivery Vehicles	2	Owned

Offices

Offices	Offices
Head Office Owned/ Rented	Owned
Rental Company	N/A
Owned by	FAREED EBRAHIM KATHRADA
Value
Bond
Bank	N/A
Lease Agreement	N/A
Lease Expire Date	N/A
Type of Premises	Warehouse & store
Comment

Branch Information - No Information on Record

Management Overview

Organization Chart

Level	Position	Name	Comment
1	Owner	FAREED EBRAHIM KATHRADA

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
100% - FAREED EBRAHIM KATHRADA	DERBY FEEDS AND SEEDS CC

Key Deals - No Information on Record

Trade References

Trade Reference nr	Supplier	Contact	Surety Value	Notarial Bonds	Comment
1	SCHMIDT FEEDS	0118738571
2	MONTEGO PET NUTRITION	0498910825
3	AVI PRODUCTS	0317660016
4	MARLTONS PETS AND PRODUCTS	0314685372

Trade References Detail

Nr	Age of Acc	Credit Limit	Max Credit	Terms	Average Purchases	Terms Taken	Comment
1	25 Years		R 300000	30 Days	R 80000	30 Days	This is an excellent account. The subject has an open account with their suppliers.
2	7 Years	R 200000.00	R190000	30 Days	R 130000 -190000	30 Days	This is a very good account.
3	3 Years		R 200000	30 Days	R 200000	30 Days	This is a very good account. The subject has an open account with their suppliers.
4	16 Years	R12000.00	R 84000	30 Days	R10000-12000	30 Days	This is a very good account. The subject had went over the credit limit that the supplier indicated to them. The supplier agreed to the extended amount as payment was obtained within terms for the higher credit amount taken.

Adverse Information on Subject

Judgment’s - No information on record

Business Rescue - No Information on Record

Default Listing - No information on record

Notarial Bonds - No information on record

Bank Information

Bank	FIRST NATIONAL BANK
Branch	GLEN
Brach Code	250655
Bank Account Number	62035778961
Type of Account	CURRENT
Account Name	DERBY FEEDS AND SEEDS CC
Overdraft Facilities	None
Bank Code	C - R 300 000
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

Financial Information

Financial Estimates

Previous Year Turnover	R12000000.00
Estimated Current Year Turnover	R16800000.00
Current Turnover per month	R1400000.00
Current Turnover per annum	R16800000.00
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

Principals

Number of Principals	1
Average Age of Active Principals	42

Active Principals

Principal - 1 of 1

FAREED KATHRADA

Surname	KATHRADA
First Name	FAREED
Other Names	EBRAHIM
Marital Status
ID Number	7206185184088
Verified ID Number	Yes
Current Age	42 Years 1 Months
Designation	Member
Status	Active
Appointment Date	2002/05/29
Physical Address (at time of Appointment)	105 TRAMWAY STREET, TURFFONTEIN, 2190
Postal Address	P O BOX 1330, CROWN MINES, 2025
Current Tel Number	0114342596
Cell number	0824467627
Shareholding/Membership	100%

Principal's Adverse - No information on record

Business Information for FAREED KATHRADA

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation
DERBY FEEDS AND SEEDS CC	B2002/039411/23	In Business	0	0	No
FE KATHRADA	7206185184088		Unknown	0	No
KATHRADA PROPERTY DEVELOPMENT CC	B1996/051974/23	In Business	18 Years 6 Months	0	No

Principal's Previous Business Interests - No information on record

Principal Deeds Information Property Interests for FAREED KATHRADA

Title Deed No.	T38541/1996	Erf/Site No.	1104
Deeds Office	JOHANNESBURG	Physical Address	50 BISHOP JOHANNESBURG
Property Type	F	Extent / Size
Purchase Date	1996/04/18	Purchase price	R 65000.00
% Ownership	0.00	Bond Holder
Bond Number		Bond Amount	R 0.00
Comment

Property Interests for FAREED KATHRADA

Title Deed No.	T19407/2011	Erf/Site No.	47
Deeds Office	PRETORIA	Physical Address
Property Type	H	Extent / Size
Purchase Date	2010/12/07	Purchase price	R 2850000.00
% Ownership	0.00	Bond Holder	ABSA BANK LTD
Bond Number	B142262011	Bond Amount	R1600000.00
Comment

Property Interests for FAREED KATHRADA

Title Deed No.	T7928/2005	Erf/Site No.	1094
Deeds Office	JOHANNESBURG	Physical Address	103 TRAMWAY TURFFONTEIN JOHANNESBURG SOUTH
Property Type	E	Extent / Size
Purchase Date	2004/10/21	Purchase price	R 280000.00
% Ownership	0.00	Bond Holder	ANGLOGOLD LTD
Bond Number	K20302003RM	Bond Amount	R 0.00
Comment

Property Interests for FAREED KATHRADA

Title Deed No.	T11252/2007	Erf/Site No.	123
Deeds Office	JOHANNESBURG	Physical Address	146 HIGH TURFFONTEIN JOHANNESBURG SOUTH
Property Type	E	Extent / Size
Purchase Date	2006/07/25	Purchase price	R1150000.00
% Ownership	0.00	Bond Holder	A B S A BANK LTD
Bond Number	B180852007	Bond Amount	R 650000.00
Comment

Property Interests for FAREED KATHRADA

Title Deed No.	T11252/2007	Erf/Site No.	124
Deeds Office	JOHANNESBURG	Physical Address	79 TRAMWAY TURFFONTEIN JOHANNESBURG SOUTH
Property Type	E	Extent / Size
Purchase Date	2006/07/25	Purchase price	R1150000.00
% Ownership	0.00	Bond Holder	A B S A BANK LTD
Bond Number	B180852007	Bond Amount	R 650000.00
Comment

Property Interests for FAREED KATHRADA

Title Deed No.	T2735/1996	Erf/Site No.	776
Deeds Office	KIMBERLEY	Physical Address	WARRENTON
Property Type	F	Extent / Size	5486.00000000
Purchase Date	1995/12/18	Purchase price	R15000.00
% Ownership	0.00	Bond Holder
Bond Number		Bond Amount	R 0.00
Comment

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.19
UK Pound	1	Rs.103.14
Euro	1	Rs.81.66

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	TPT

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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