MIRA INFORM REPORT

 

 

Report Date :

11.06.2014

 

IDENTIFICATION DETAILS

 

Name :

BLUE STRATA TRADING (PTY) LTD

 

 

Formerly Known As :

NEW HEIGHTS 265 (PTY) LTD

 

 

Registered Office :

Blue Strata House 66 Wierda Road East Wierda Valley Sandton Gauteng

 

 

Country :

South Africa

 

 

Date of Incorporation :

05.09.2000

 

 

Com. Reg. No.:

2000/022631/07

 

 

Legal Form :

Private Company

 

 

Line of Business :

Subject is a Logistics and finance company (import finance and forex management)

 

 

No. of Employees

115

 

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

 

 

 

Company name

 

BLUE STRATA TRADING (PTY) LTD

 

Formerly: NEW HEIGHTS 265 (PTY) LTD, the name having changed on 19 January 2001

 

 

PHYSICAL ADDRESS

 

Blue Strata House

66 Wierda Road East

WIERDA VALLEY

Sandton

Gauteng

 

 

POSTAL ADDRESS   

 

P O Box 342

STRATHAVON

2031

 

 

TELEPHONE NUMBER   

 

+27 11 245 5600 / 5745

 

 

FAX NUMBER

 

+27 11 884 8775

 

 

SHAREHOLDERS

 

48.5%   INVESTEC LTD

A ORLIN (son)

R V ORLIN (father)         A combined shareholding between the 3 is 51.5%

BIG BLUE TRUST

 

It was stated that Mr D KUPER, a previous shareholder of the subject passed away in early 2009.

 

The shareholding changed and was previously 25% INVESTEC LTD,
25% A ORLIN, 25% R V ORLIN and 25% D KUPER

 

The shareholding changed in May 2006 and was previously 60% A ORLIN (Son), 20% R V ORLIN (Father) and 20% D KUPER.

 

 

ASSOCIATE COMPANIES

 

6 BAR SYSTEMS (PTY) LTD

(Registration Certificate Number. 2006/021273/07)

 

 

DIRECTORS

 

A ORLIN                                                           ID No.   7207155022084

R V ORLIN                                                        ID No.   4111125050006

AH MELTZER                                                    ID No.   7306265086086

S HACKNER                                                     ID No.   5508205162081

L J RABBIE                                                       ID No.   7008085039085

 

 

BANKERS

 

STANDARD BANK, Sandton Branch, Account Number: 023255048. It was stated that the subject does not require overdraft facilities as credit balances are maintained at the banks.

 

The subject also banks with INVESTEC BANK, Sandton Branch. It was  stated that the subject does not have an overdraft facility at INVESTEC BANK as credit balances are maintained.

 

 

DATE REGISTERED

 

5 September 2000

Registration Certificate Number: 2000/022631/07

 

 

VAT NUMBER:              4490191774

 

TAX NUMBER:              9491119146

 

BEE STATUS:              Level 5 contributor

 

MAJOR OPERATIONS

 

Logistics and finance company (import finance and forex management)

 

MAJOR SUPPLIERS

 

Previously, we have divulged the names of the major suppliers in our reports.  We have discontinued this practice to protect our valuable sources of trade information.  This has become necessary because we now give a description of the goods or services to which the trade references relate.  This gives our client the ability to assess whether  the purchases are vital to the subject’s operation and whether we have only been given their essential suppliers that must be paid promptly for the subject to maintain its operation.

 

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

 

General industries

 

 

AREA OF DISTRIBUTION AND SELLING:          South Africa

 

EXPORTS:                                                       None

 

TOTAL EMPLOYEES:                                       ±115

 

OTHER PREMISES:                                          None

 

OWNED OR LEASED:                                       The Head Office premises are leased

 

 

AUTHORISED SHARE CAPITAL

 

R1 000 divided into 1000 ordinary shares of R1 each

 

 

ISSUED SHARE CAPITAL

 

R100

 

 

FINANCIALS

 

Full financial information was not forthcoming from respondents at the subject. Nevertheless, it was stated that the subject does not carry any stock and the turnover per annum is about R4 000 000 000.

 

 

AUDITORS

 

PKF JHB INC

 

 

YEAR END

 

FEBRUARY

 

 

 

INSURANCE BROKER         

 

 MARSH INSURANCE BROKERS

 

 

TRADE REFERENCES – NOVEMBER 2006

 

 

       PERIOD      HIGHEST        AVERAGE      TERMS    PAYMENT    EXPERIENCE

                         CREDIT          CREDIT                          PATTERN

 

1.    3 years        R12 000 000    R4 500 000 -    30 days    30 days        Excellent

                         c/l                   R6 000 000

 

2.    May 2005    R1 500 000      R1 500 000        7 days      7 days        Excellent

 

3.    Do not give trade references

 

 

TRADE REFERENCES – AUGUST 2007

 

       PERIOD      HIGHEST        AVERAGE      TERMS    PAYMENT    EXPERIENCE

                         CREDIT          CREDIT                          PATTERN

 

1.    2003          R12 000 000    R     200 00-    7 days     7 days          Very Good

                                               R   600 000

 

2.    2005           R  2 000 000    R2 000 000      7 days      7 days          Excellent

 

3.    Do not give trade references

 

 

TRADE REFERENCES – NOVEMBER 2007

 

       PERIOD      HIGHEST        AVERAGE      TERMS    PAYMENT    EXPERIENCE

                         CREDIT          CREDIT                          PATTERN

 

1.    June 2003   R12 000 000    R     400 000-    7 days      7 days        Excellent

                                               R12 000 000

 

2.    2005           R  2 000 000    R  1 500 000      7 days      7 days        Very Good

 

3.    Do not give trade references

 

 

TRADE REFERENCES – APRIL 2009

 

      ACCOUNT    HIGHEST      AVERAGE      TERMS    PAYMENT    EXPERIENCE

      OPENED      CREDIT         CREDIT                          PATTERN

 

1.    2003             R12 000 000   ±R10 000 000  15 days    15 days        Excellent

                          (unsecured)

 

2.    Do not give trade references

 

 

TRADE REFERENCES – FEBRUARY 2011

 

      ACCOUNT    HIGHEST      AVERAGE      TERMS    PAYMENT    EXPERIENCE

      OPENED      CREDIT         CREDIT                          PATTERN

 

1.    2003             R6 000 000    R4 800 000      14 days    14 days        Very Good

 

2.    Do not give trade references

 

 

TRADE REFERENCES – NOVEMBER 2011

 

      ACCOUNT    HIGHEST      AVERAGE      TERMS    PAYMENT    EXPERIENCE

      OPENED      CREDIT         CREDIT                          PATTERN

 

1.    8 years         R6 000 000    R2 300 000-     14 days    17 days        Excellent

                          c/l – CGIC      R8 300 000

 

2.    Do not give trade references

 

 

TRADE REFERENCES – APRIL 2012

 

      ACCOUNT    HIGHEST      AVERAGE      TERMS       PAYMENT   EXPERIENCE

      OPENED      CREDIT         CREDIT                             PATTERN

 

1.     Do not give trade references

 

2.    Do not give trade references

 

TRADE REFERENCES – JANUARY 2013

 

      ACCOUNT    HIGHEST      AVERAGE      TERMS       PAYMENT   EXPERIENCE

      OPENED      CREDIT         CREDIT                             PATTERN

 

1.    Do not give trade references

 

2.    2003             R10 000 000   R1 000 000-     14 days       14 days       Very Good

                          Insured : CGIC                     R8 000 000

 

 

TRADE REFERENCES – OCTOBER 2013

 

      ACCOUNT    HIGHEST      AVERAGE      TERMS       PAYMENT   EXPERIENCE

      OPENED      CREDIT         CREDIT                             PATTERN

 

1.    June 2003     R10 000 000   R1 800 000      14 days       14 days       Good

                          Insured : CREDIT GUARANTEE

 

2.    Do not give trade references

 

TRADE REFERENCES – FEBRUARY 2014

 

      ACCOUNT    HIGHEST      AVERAGE      TERMS       PAYMENT   EXPERIENCE

      OPENED      CREDIT         CREDIT                             PATTERN

 

1.    Do not give trade references

 

2.    2003             R10 000 000   R10 000 000    14 days       14 days       Excellent

 

 

CURRENT TRADE REFERENCES

 

      ACCOUNT    HIGHEST      AVERAGE      TERMS       PAYMENT   EXPERIENCE

      OPENED      CREDIT         CREDIT                             PATTERN

 

1.    2003             R10 000 000   Varies             14 days       14 days       Excellent

                          c/l

 

2.    Do not give trade references

 

 

NATURE OF GOODS OR SERVICES SUPPLIED

 

(These descriptions relate respectively by number to the above current trade transactions):

 

1.         Freight Forwarders

 

 

COMMENTS

 

This is an established business which is effecting a substantial turnover. 


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.26

UK Pound

1

Rs.99.63

Euro

1

Rs.80.59

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIS

 

               

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.