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Report Date : |
26.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
WOOLWORTHS
(PTY)LTD |
|
|
|
|
Formerly Known as : |
WOOLWORTHS HOLDINGS (PTY) LTD |
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|
|
|
Registered Office : |
Woolworths House, 93 Longmarket Street, Cape Town, 8001 |
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|
|
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Country : |
South Africa |
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|
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Date of Incorporation : |
02.03.1956 |
|
|
|
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Com. Reg. No.: |
M1956/000518/07 |
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|
|
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Legal Form : |
Private Company |
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|
|
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Line of Business : |
· Subject operates as a retailer of Clothing, Footwear, Bedding, Furniture, Groceries, Beauty Products, and housewares under its brand name such as Witchery Mimco, RE:, Studio.w, Country Road & Trenery ·
Subject also offers a range of Financial
Services in partnership with
Absa Bank. ·
Wholesale trader of textiles, clothing and
footwear |
|
|
|
|
No of Employees : |
20000 |
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 |
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|
|
|
Payment Behaviour : |
Unknown |
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|
|
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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 |
WOOLWORTHS (PTY)LTD |
|
Country |
South Africa |
|
Subject Contact Person |
ALISON DAVIES - Assistant Company Secretary |
|
Assessment |
This is a well-established and well -connected business. On investigation contact was made with FLORENCE DZIMWASHA the company secretary who assisted with some information. We could not obtain a payment pattern on the subject due to the suppliers either not answering the phones or the contact person not being available. We are awaiting a bank code. on CIPC we have 7 directors showing, however documents were provided only showing 3 directors. Please see the available information on the subject below. |
|
Registered Name |
WOOLWORTHS (PTY)LTD |
|
Trading as/ Division Name |
None |
|
Previous Name |
WOOLWORTHS HOLDINGS (PTY) LTD |
|
Date of Name Change |
1993-07-06 |
|
Registration Number |
M1956/000518/07 |
|
Registration Date |
1956/03/02 |
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Date Commenced Trading |
1956-03-02 |
|
Age of Business |
56 Years 6 Months |
|
History of Business |
WOOLWORTHS (PTY) LTD was initially established in 1931 in Cape Town by Max Sonnenberg and his son Richard Sonnenberg. |
|
History of Principals |
IAN MOIR joined the board in January 2010 and was later appointed in November 2010 as the Group Chief Executive. ZYDA RYLANDS joined the company in 1996, worked in the finance department and was appointed to the board in 2006. RALPH BUDDLE operates as the Group Finance Executive. NORMAN THOMSON joined the board in 1991 and was appointed as the Group finance director in 2002. |
|
Shareholders/Members/Partners of subject and % holding |
100 % - WOOLWORTHS HOLDINGS LTD |
|
Authorised Share Capital |
R 0.00 |
|
Issued Share Capital/Members Contribution |
R 0.00 |
|
Status |
In Business |
|
Operations Assessment |
· The company operates as a retailer of Clothing, footwear, bedding, furniture, groceries, beauty products, and housewares under its brand name such as Witchery Mimco, RE:, Studio.w, Country Road & Trenery ·
Subject also offers a range of Financial
Services in partnership with
Absa Bank. |
|
Industry/ Customers |
Public |
|
Export |
Yes |
|
Major Industry Code / SICC |
61310 |
|
Definition of Code |
Wholesale trader of Textiles, Clothing and Footwear |
|
Head Office Physical Address |
WOOLWORTHS HOUSE, 93 LONGMARKET STREET, CAPE TOWN, 8001 |
|
Head Office Postal Address |
P O BOX 680, CAPE TOWN, 8000 |
|
Current Tel Number |
0214079111 |
|
Cell Number |
Unavailable |
|
Current Fax Number |
0214073924 |
|
Current Email Address |
|
|
Web Site Address |
|
Company Registered Name |
ERNST AND YOUNG CAPE TOWN INC |
|
Trading Name |
ERNST & YOUNG |
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Registration Number |
2005/002308/21 |
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Physical Address |
35 Lower Long Street, CAPE TOWN, WESTERN CAPE, 8001 |
|
Postal Address |
P O Box 656, CAPE TOWN, 8000 |
|
Contact Person |
N KHAN |
|
Contact Number |
0214430200 |
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Email |
|
|
Principals |
27 |
|
Judgements Against Subject |
No Information found on file |
|
Judgements Against Principals |
No Information found on file |
|
Subject Verified as Client |
Yes |
|
Practice Number |
918288 |
|
VAT Number |
4280230949 |
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Tax Number |
9414606153 |
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BEE Status |
Level 2 |
|
Financial Year End |
June |
|
No of years in Business |
23 |
|
Website |
Previous Auditors Information - No Information on Record
|
Vat Number |
4550102216 |
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Status |
ACTIVE |
|
Vat Liable Date |
1991/09/30 |
|
Tax Number |
9487806714 |
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Financial Year End |
June |
|
Status |
Yes |
|
Score |
3.00 |
|
Expire Date |
Aug 28 2013 |
|
BEE Certificate Available |
Yes |
ISO Information - No Information on Record
|
Registered |
Yes |
|
Compliance Certified |
Yes |
Subsidiaries Information - No Information on Record
Employees
|
Number of Employees |
20000 |
|
Comment |
18500 is the total number of employees around the country |
Company Fleet
Information - No Information on Record
Offices Information -
No Information on Record
Branch Information -
No Information on Record
Organisational Chart
- No Information on Record
Company Structure Information - No Information on Record
Note: One level up and all
levels down
Key Deals - No Information on Record
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
|
1 |
SEARDEL |
0215055261 |
|
|
Awaiting Trade
Reference |
|
2 |
QK MEATS |
011 4050073 |
|
|
Contact person
Doreen |
|
3 |
JACQUES HAU |
021 7610133 |
|
|
Awaiting Trade
Reference |
|
4 |
IMPERIAL LOGISTICS |
021 5283200 |
|
|
fast and frash div |
Judgements - No information on record
Business Rescue - No Information on Record
Default Listing - No information on record
Notarial Bonds - No information on record
|
Bank |
STANDARD BANK |
|
Branch |
ADDERLEY STREET |
|
Brach Code |
051001 |
|
Bank Account Number |
070322473 |
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Type of Account |
CURRENT |
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Account Name |
WOOLWORTHS (PTY) LTD |
|
Overdraft Facilities |
YES |
Bank Code History - No Information on Record
Previous Bank Account Information - No Information on Record
Deeds Information - No information on record
|
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 |
7 |
|
Average Age of Active Principals |
52 |
Active Principals
Principal - 1 of 7 PATIENCE SISHUBA MASHEGO
|
Surname |
SISHUBA MASHEGO |
|
First Name |
PATIENCE |
|
Other Names |
THOBE |
|
Marital Status |
Married |
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ID Number |
7108230467080 |
|
Verified ID Number |
No |
|
Current Age |
41 |
|
Designation |
SECRETARY |
|
Status |
Active |
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Appointment Date |
2012/02/01 |
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Physical Address (at time of Appointment) |
8 FIONA CRESCENT, PANORAMA, 7500 |
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Postal Address |
8 FIONA CRESCENT, PANORAMA, 7500 |
|
Current Tel Number |
0214076326 |
|
Cell number |
0829281320 |
|
Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information for
PATIENCE SISHUBA MASHEGO
Principal's Current
Business Interests - No information on record
Principal's Previous
Business Interests - No information on record
Principal's Deeds
Information - No information on record
Principal - 2 of 7
IAN MOIR
|
Surname |
MOIR |
|
First Name |
IAN |
|
Other Names |
NONE |
|
ID Number |
E3078698 |
|
Verified ID Number |
No |
|
Current Age |
54 |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
2010/01/01 |
|
Physical Address (at time of Appointment) |
15 HOUGHTON ROAD, CAMPS BAY, 8001 |
|
Postal Address |
P O BOX 680, CAPE TOWN, 8000 |
|
Current Tel Number |
0214079111 |
|
Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information
for PATIENCE SISHUBA MASHEGO
Principal's Current
Business Interests - No information on
record
Principal's Previous
Business Interests - No information on record
Principal's Deeds
Information - No information on record
Principal - 3 of 7
IAN MOIR
|
Surname |
MOIR |
|
First Name |
IAN |
|
Other Names |
NONE |
|
ID Number |
5812100000000 |
|
Verified ID Number |
No |
|
Current Age |
54 |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
2010/01/01 |
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Physical Address (at time of Appointment) |
UNIT 1, AZAMARA, 15 HOUGHTON ROAD, CAMPS BAY, 8001 |
|
Postal Address |
P O BOX 680, CAPE TOWN, Western Cape, 8000 |
|
Current Tel Number |
0214079111 |
|
Cell number |
|
|
Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information
for PATIENCE SISHUBA MASHEGO
Principal's Current
Business Interests - No information on record
Principal's Previous
Business Interests - No information on record
Principal's Deeds
Information - No information on record
Principal - 4 of 7
ANDREW JENNINGS
|
Surname |
JENNINGS |
|
First Name |
ANDREW |
|
Other Names |
RICHARD |
|
ID Number |
480917 |
|
Verified ID Number |
No |
|
Current Age |
64 |
|
Status |
Active |
|
Appointment Date |
2006/12/01 |
|
Physical Address (at time of Appointment) |
202 DOVENBY, THE MARINA 1 DOCK ROAD, V & A WATERFRONT, CAPE TOWN,
8001 |
|
Postal Address |
PO BOX 680, CAPE TOWN, 8000 |
|
Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information
for PATIENCE SISHUBA MASHEGO
Principal's Current
Business Interests - No information on record
Principal's Previous
Business Interests - No information on record
Principal's Deeds
Information - No information on record
Principal - 5 of 7
ZYDA RYLANDS
|
Surname |
RYLANDS |
|
First Name |
ZYDA |
|
Other Names |
NONE |
|
Marital Status |
Single |
|
ID Number |
6411100181026 |
|
Verified ID Number |
Yes |
|
Current Age |
48 |
|
Designation |
EXECUTIVE |
|
Status |
Active |
|
Appointment Date |
2004/07/01 |
|
Physical Address (at time of Appointment) |
2 MIDHURST WAY, CONSTANTIA, Western Cape, 7806 |
|
Postal Address |
P O BOX 680, CAPE TOWN, Western Cape, 8001 |
|
Current Tel Number |
0214072696 |
|
Cell number |
0834409724 |
|
Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information
for PATIENCE SISHUBA MASHEGO
Principal's Current
Business Interests - No information on record
Principal's Previous Business
Interests - No information on record
Principal's Deeds
Information - No information on record
Principal - 6 of 7
RALPH BUDDLE
|
Surname |
BUDDLE |
|
First Name |
RALPH |
|
ID Number |
6610175273085 |
|
Verified ID Number |
No |
|
Current Age |
46 |
|
Designation |
CHARTERED ACCOUNTANT |
|
Status |
Active |
|
Appointment Date |
2004/03/17 |
|
Physical Address (at time of Appointment) |
2 BROADWAY ROAD, NEWLANDS, 7708 |
|
Postal Address |
P O BOX 680, CAPE TOWN, 8001 |
|
Current Tel Number |
0214079111 |
|
Cell number |
0828755198 |
|
Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information
for PATIENCE SISHUBA MASHEGO
Principal's Current
Business Interests - No information on record
Principal's Previous Business
Interests - No information on record
Principal's Deeds
Information - No information on record
Principal - 7 of 7
NORMAN THOMSON
|
Surname |
THOMSON |
|
First Name |
NORMAN |
|
ID Number |
5106265076083 |
|
Verified ID Number |
Yes |
|
Current Age |
61 |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
2001/03/12 |
|
Physical Address (at time of Appointment) |
2 FIRDALE ROAD, CAPE TOWN, 7700 |
|
Postal Address |
P O BOX 680, CAPE TOWN, Western Cape, 8001 |
|
Current Tel Number |
0216806204 |
|
Cell number |
0832513654 |
|
Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information
for PATIENCE SISHUBA MASHEGO
Principal's Current
Business Interests - No information on record
Principal's Previous
Business Interests - No information on record
Principal's Deeds
Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.28 |
|
UK Pound |
1 |
Rs.102.28 |
|
Euro |
1 |
Rs.82.05 |
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.