|
Report Date : |
05.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
ELANGENI SOAPS
(PTY)LTD |
|
|
|
|
Formerly Known As : |
ELANGENI OIL AND SOAPS |
|
|
|
|
Registered Office : |
17 Buro Cresent, Waterfall Park, 4091 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
22.03.1984 |
|
|
|
|
Com. Reg. No.: |
M1984/002972/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
· subjects main operation is the production of high quality edible oils. ·
Subject product range further extends to the
sanitary sector with products such as toilet and laundry soaps. ·
Manufacturer of soap and other cleaning
compounds |
|
|
|
|
No of Employees : |
202 |
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 |
ELANGENI SOAPS (PTY)LTD |
|
Country |
South Africa |
|
Subject Contact Person |
IRSHAD - Accountant |
|
Assessment |
This is an established business. On investigation contact was made with IRSHAD the accountant who declined to assist with the banking details as this is considered to be confidential. The subject is meeting commitments timeously with suppliers. Please see the available information on the subject below. |
|
Registered Name |
ELANGENI SOAPS (PTY)LTD |
|
Trading as/ Division Name |
ELANGENISOAPS |
|
Previous Name |
ELANGENI OIL AND SOAPS |
|
Date of Name Change |
2013-07-29 |
|
Registration Number |
M1984/002972/07 |
|
Registration Date |
1984/03/22 |
|
Date Commenced Trading |
1984-03-22 |
|
Age of Business |
30 Years 2 Months |
|
History of Business |
The company was establishment in 1984. The company is in operation for the past 30 Years 2 Months. |
|
History of Principals |
There are 4 active directors within the company. |
|
Shareholders/Members/Partners of subject and % holding |
25% - CASSIM YUSUF PARUK, 25% - EBRAHIM YAKOOB PARUK, 25%o - MOOSA YOUSSUF LAKHI, 25%o - ISMAIL MAHOMED PARUK |
|
Authorised Share Capital |
R 0.00 |
|
Issued Share Capital/Members Contribution |
R 0.00 |
|
Status |
In Business |
|
Operations Assessment |
The subjects main operation is the production of high quality edible oils. The product range further extends to the sanitary sector with products such as toilet and laundry soaps. |
|
Industry/ Customers |
The general public, wholesalers and retailers. |
|
Export |
Yes |
|
Import |
Yes |
|
Import Countries |
India |
|
Major Industry Code / SICC |
33541 |
|
Definition of Code |
Manufacturer of soap and other cleaning compounds |
|
Head Office Physical Address |
17 Buro Cresent, Waterfall Park, 4091 |
|
Head Office Postal Address |
Po Box 51317, Musgrave, 4062 |
|
Current Tel Number |
0312035000 |
|
Cell Number |
Unavailable |
|
Current Fax Number |
0866156041 |
|
Current Email Address |
|
|
Web Site Address |
|
Company Registered Name |
A2A KOPANO INCORPORATED |
|
Trading Name |
A2A KOPANO |
|
Registration Number |
M1998/014078/21 |
|
Physical Address |
1st Floor Kenilworth Park, 202 Brickfield Road, Overport, DURBAN, 4001 |
|
Postal Address |
P.O.Box 4969, DURBAN, 4000 |
|
Contact Person |
CLAUTEL REDDY |
|
Contact Number |
0312043326 |
|
Email |
|
|
Principals |
25 |
|
Judgements Against Subject |
None On Record |
|
Judgements Against Principals |
None On Record |
|
Subject Verified as Client |
Yes |
|
Practice Number |
901994 |
|
VAT Number |
4500226792 |
|
Tax Number |
9824016647 |
|
BEE Status |
Level 1 |
|
Financial Year End |
February |
|
No of years in Business |
15 Years 10 Months |
|
Website |
Previous Auditors Information - No Information on Record
|
Vat Number |
4210102614 |
|
Status |
ACTIVE |
|
Vat Liable Date |
1991/09/30 |
|
Tax Number |
9082079204 |
|
Financial Year End |
December |
|
Status |
Yes |
|
Score |
3.00 |
|
Expire Date |
Jun 142014 |
|
BEE Certificate Available |
No |
|
Type of ISO Grade |
Unavailable |
|
ISO Certificate |
Yes |
|
ISO Certificate Available |
No |
|
Certified by an Accredited Agent |
Yes |
|
Registered |
Yes |
|
Compliance Certified |
Yes |
Subsidiaries
Information - No Information on Record
Employees
|
Number of Employees |
202 |
|
1. Salaried employees |
48 |
|
2. Waged employees |
101 |
|
3. Permanent employees |
48 |
|
4. Casual employees |
0 |
|
5. Contracted employees |
53 |
|
Company Fleet |
No of vehicles: |
Owned/Leased |
Value |
Outstanding Balance |
|
The Fleet is made up of |
15 |
|||
|
Other |
15 |
Owned |
|
|
Offices Information -
No Information on Record
Branch Information - No
Information on Record
Organisation Chart
Level Position Name
1 Director
CASSIM YUSUF PARUK
1 Director
EBRAHIM YAKOOB
PARUK
1 Director
MOOSA YOUSSUF LAKHI
1 Director ISMAIL
MAHOMED PARUK
Company Structure
(Ownership)
Note:
One level up and all levels down
|
Holding |
Company |
Sub |
|
25 % - CASSIM YUSUF PARUK |
ELANGENI SOAPS (PTY)LTD |
None |
|
25 % - EBRAHIM YAKOOB PARUK |
ELANGENI SOAPS (PTY)LTD |
None |
|
25 % - MOOSA YOUSSUF LAKHI |
ELANGENI SOAPS (PTY)LTD |
None |
|
25 % - ISMAIL MAHOMED PARUK |
ELANGENI SOAPS (PTY)LTD |
None |
Key Deals - No
Information on Record
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
|
1 |
GRAIN VEST |
0861660000 |
|
|
|
|
2 |
SASAL |
0169203144 |
|
|
|
|
3 |
CAROSEAL |
0319109400 |
|
|
|
|
4 |
SEEXTEEN |
0315077061 |
|
|
|
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
4 Years |
|
|
14 Days |
R 750000 |
14 Days |
This is a very
good account. The subject has an open account with the
supplier. The max limit
was declined. |
|
2 |
15 Years |
|
|
30 Days |
|
30 Days |
This is an
excellent account. The subject could not provide us with values due to
company policy. |
|
3 |
|
|
|
|
|
|
The subject
declined to provide a trade reference as per company policy. |
|
4 |
3 Years |
R 500000.00 |
|
30 Days |
R 400000 |
30 Days |
This is a very good
account. The subject declined the max credit. |
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 250000000.00 |
|
Estimated Current Year Turnover |
R 250000000.00 |
|
Current Turnover per month |
R 20000000.00 |
|
Current Turnover per annum |
R 240000000.00 |
|
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 |
|
Number of Principals |
5 |
|
Average Age of Active Principals |
53 |
Active Principals
Principal - 1 of 4 CASSIM PARUK
|
Surname |
PARUK |
|
First Name |
CASSIM |
|
Other Names |
None |
|
ID Number |
7903265202083 |
|
Verified ID Number |
Yes |
|
Current Age |
35 Years 2 Months |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2006/05/16 |
|
Physical Address (at time of Appointment) |
24 MOFFAT AVENUE, WESTVILLE, 3630 |
|
Postal Address |
P O BOX 4206, DURBAN, 4000 |
|
Current Tel Number |
0324592949 |
|
Cell number |
Unavailable |
|
Shareholding/Membership |
25 % |
Principal's Adverse -
No information on record
Business Information
for CASSIM PARUK
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
ELANGENI HOLDINGS LTD |
M1944/017617/06 |
In Business |
70 Years 10 Months |
0 |
No |
|
|
ELANGENISOAPS (PTY)LTD |
M1984/002972/07 |
In Business |
30 Years 6 Months |
0 |
No |
|
|
PALS CLOTHING (PTY)LTD |
M1940/013967/07 |
In Business |
74 Years 2 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 20 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
HILLTOP TRADING (PTY)LTD |
M1993/005767/07 |
Voluntary Liquidation |
21 Years 9 Months |
0 |
Yes |
|
|
PENZANCE 1104 CC |
B1994/014378/23 |
Deregistration Final |
20 Years 8 Months |
0 |
No |
|
Principal's Deeds
Information - No information on record
Principal - 2 of 4
EBRAHIM PARUK
|
Surname |
PARUK |
|
First Name |
EBRAHIM |
|
Other Names |
None |
|
ID Number |
7806305121082 |
|
Verified ID Number |
Yes |
|
Current Age |
35 Years 11 Months |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2006/05/16 |
|
Physical Address (at time of Appointment) |
19 WOODLAND AVENUE, WESTVILLE, DURBAN, KWA-ZULU NATAL, 3630 |
|
Postal Address |
19 WOODLAND AVENUE, WESTVILLE, DURBAN, KWA-ZULU NATAL, 3630 |
|
Current Tel Number |
Unavailable |
|
Cell number |
Unavailable |
|
Shareholding/Membership |
25 % |
Principal's Adverse -
No information on record
Business Information
for EBRAHIM PARUK
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
ELANGENI HOLDINGS LTD |
M1944/017617/06 |
In Business |
70 Years 10 Months |
0 |
No |
|
|
ELANGENI OIL (PTY)LTD |
K2012/010863/07 |
In Business |
2 Years 2 Months |
0 |
No |
|
|
ELANGENI PRODUCTS (PTY)LTD |
K2014/088223/07 |
In Business |
0 |
0 |
No |
|
|
ELANGENISOAPS (PTY)LTD |
M1984/002972/07 |
In Business |
30 Years 6 Months |
0 |
No |
|
|
GRAINVEST OIL (PTY)LTD |
K2011/126721/07 |
In Business |
3 Years 3 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 8 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
INTRINSIC HEALTH CC |
B2006/149479/23 |
In Business |
8 Years 8 Months |
0 |
No |
|
Principal's Deeds
Information - No information on record
Principal - 3 of 4 MOOSA LAKHI
|
Surname |
LAKHI |
|
First Name |
MOOSA |
|
Other Names |
None |
|
ID Number |
5804055050082 |
|
Verified ID Number |
Yes |
|
Current Age |
56 Years 1 Months |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
1995/02/24 |
|
Physical Address (at time of Appointment) |
11 WINTON CRESCENT, WESTVILLE NORTH, KWA-ZULU NATAL, 3630 |
|
Postal Address |
P O BOX 85280, RESERVOIR HILLS, KWA-ZULU NATAL, 4090 |
|
Current Tel Number |
0312035000 |
|
Cell number |
0837788668 |
|
Shareholding/Membership |
25% |
Principal's Adverse -
No information on record
Business Information for MOOSA LAKHI
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
BASFOUR 3305 (PTY)LTD |
M2005/034382/07 |
In Business |
9 Years 9 Months |
0 |
No |
|
|
ELANGENI HOLDINGS LTD |
M1944/017617/06 |
In Business |
70 Years 10 Months |
0 |
No |
|
|
ELANGENI OIL (PTY)LTD |
K2012/010863/07 |
In Business |
2 Years 2 Months |
0 |
No |
|
|
ELANGENISOAPS (PTY)LTD |
M1984/002972/07 |
In Business |
30 Years 6 Months |
0 |
No |
|
|
YS LAKHI INVESTMENTS CC |
B2004/064707/23 |
In Business |
10 Years 10 Months |
0 |
No |
|
|
YSL FOODS (PTY)LTD |
K2014/002767/07 |
In Business |
0 |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 30 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
ADVANCE (PTY)LTD |
M1949/033889/07 |
In Business |
65 Years 5 Months |
0 |
No |
|
|
ADVANCE FINANCIAL SERVICES (PTY)LTD |
1914/004513/07 |
In Business |
100 Years 4 Months |
0 |
No |
|
|
ADVANCE FINANCIAL SERVICES LTD |
M1914/004513/06 |
In Business |
100 Years 4 Months |
0 |
No |
|
|
ADVANCE PRODUCTS (PTY)LTD |
M1939/012832/07 |
In Business |
75 Years 3 Months |
0 |
No |
|
|
CALLENAN INVESTMENTS CC |
B1995/050956/23 |
Deregistration Final |
19 Years 7 Months |
0 |
No |
|
|
GRAINVEST NORTH WEST (PTY)LTD |
M1997/000298/07 |
Voluntary Liquidation |
17 Years 5 Months |
2 |
Yes |
|
|
USHAKA SQUARE CC |
B1997/014064/23 |
In Business |
17 Years 5 Months |
0 |
No |
|
Principal's Deeds
Information - No information on record
Principal - 4 of 4 ISMAIL PARUK
|
Surname |
PARUK |
|
First Name |
ISMAIL |
|
Other Names |
None |
|
Marital Status |
|
|
ID Number |
4411105130053 |
|
Verified ID Number |
Yes |
|
Current Age |
69 Years 7 Months |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
1984/03/22 |
|
Physical Address (at time of Appointment) |
14 WOODSIDE AVENUE, COWIES HILL, DURBAN, 3630 |
|
Postal Address |
PO BOX 4206, DURBAN, 4000 |
|
Current Tel Number |
0312035000 |
|
Cell number |
0723358858 |
|
Shareholding/Membership |
25% |
Principal's Adverse -
No information on record
Business Information for ISMAIL PARUK
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
ELANGENI HOLDINGS LTD |
M1944/017617/06 |
In Business |
70 Years 10 Months |
0 |
No |
|
|
ELANGENISOAPS (PTY)LTD |
M1984/002972/07 |
In Business |
30 Years 6 Months |
0 |
No |
|
|
TENNA INVESTMENTS (PTY)LTD |
M1985/002821/07 |
In Business |
29 Years 5 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 32 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
ADVANCE (PTY)LTD |
M1949/033889/07 |
In Business |
65 Years 5 Months |
0 |
No |
|
|
ADVANCE FINANCIAL SERVICES (PTY)LTD |
1914/004513/07 |
In Business |
100 Years 4 Months |
0 |
No |
|
|
ADVANCE FINANCIAL SERVICES LTD |
M1914/004513/06 |
In Business |
100 Years 4 Months |
0 |
No |
|
|
CHALLEN INVESTMENTS (PTY)LTD |
M1985/001588/07 |
Deregistration Final |
29 Years 5 Months |
0 |
No |
|
|
ELANGENI GROUP FINANCIAL SERVICES (PTY)LTD |
M1995/010337/07 |
In Business |
19 Years 7 Months |
0 |
No |
|
|
ISMA DISTRIBUTORS (PTY)LTD |
M1965/009865/07 |
Voluntary Liquidation |
49 Years 1 Months |
0 |
Yes |
|
|
PARKBRO
PROPERTIES (PTY)LTD |
M1971/006850/07 |
Deregistration Final |
43 Years 7 Months |
0 |
No |
|
Principal's Deeds Information
- No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.34 |
|
UK Pound |
1 |
Rs.99.18 |
|
Euro |
1 |
Rs.80.76 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.