|
Report Date : |
09.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
THE NATURAL STONE
WAREHOUSE (PTY)LTD |
|
|
|
|
Registered Office : |
No35 Northlands Deco
Park, Cnr Witkoppen Road & New Street, Northriding, 2162 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
21.07.2003 |
|
|
|
|
Com. Reg. No.: |
M2003/017117/07 |
|
|
|
|
Legal Form : |
Private limited |
|
|
|
|
Line of Business : |
Wholesale trade in precious stones, jewellery and silverware |
|
|
|
|
No. of Employees |
40-50 |
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 |
|
Subject
Name |
THE
NATURAL STONE WAREHOUSE (PTY)LTD |
|
Country |
South
Africa |
|
Enquiry
Terms |
COD |
|
Account
Review |
Recommended
Every 6 Months |
|
Subject
Contact Person |
LIZZELLE -
Financial Manager |
|
Assessment |
This is an
established business. On investigation contact was made with LIZZELLE the
financial manager who declined financials. The subject is meeting commitments
timeously with suppliers. We obtained a bank code C for R 100 000. Please see
the available information on the subject below. |
|
Registered
Name |
THE
NATURAL STONE WAREHOUSE (PTY)LTD |
|
Trading
as/ Division Name |
THE
NATURAL STONE WAREHOUSE |
|
Previous
Name |
None |
|
Date of
Name Change |
2005-05-17 |
|
Registration
Number |
M2003/017117/07 |
|
Registration
Date |
2003/07/21 |
|
Date
Commenced Trading |
2003-07-21 |
|
Age of
Business |
10 Years
10 Months |
|
History of
Business |
The
subject commenced trading as a new company in 2003. |
|
History of
Principals |
There are
currently 2 active directors within the company. |
|
Shareholders/Members/Partners
of subject and % holding |
100 % -
AHR INVESTMENT HOLDINGS |
|
Authorised
Share Capital |
R1000.00 |
|
Issued
Share Capital/Members Contribution |
R 100.00 |
|
Status |
In
Business |
|
Operations
Assessment |
The
subject deals in the retail trade of natural stone. |
|
Industry/
Customers |
The
construction industry |
|
Export |
Yes |
|
Export
Countries |
|
|
Import |
Yes |
|
Import
Countries |
|
|
Major Industry
Code / SICC |
61393 |
|
Definition
of Code |
Wholesale
trade in precious stones, jewellery and silverware |
|
Head
Office Physical Address |
No35
Northlands Deco Park, Cnr Witkoppen Road & New Street, NORTHRIDING, 2162 |
|
Head
Office Postal Address |
P O BOX
1955, PARDON ISLAND, 7420 |
|
Current
Tel Number |
0117046827 |
|
Cell
Number |
Unavailable |
|
Current
Fax Number |
0117046707 |
|
Current
Email Address |
|
|
Web Site
Address |
|
|
Comments |
|
|
Company Registered Name |
MOORE STEPHENS BKV INCORPORATED |
|
Trading Name |
MOORE STEPHENS BKV |
|
Registration Number |
2002/031472/21 |
|
Physical Address |
THE GATEWAY, 3RD AND 4TH FLOOR,
CENTURY WAY, CENTURY CITY, 7441 |
|
Postal Address |
P O BOX 1955, CAPE TOWN, 8000 |
|
Contact Person |
JOHAN VERMEULEN |
|
Contact Number |
0215258600 |
|
Email |
Unavailable |
|
Principals |
8 |
|
Judgements Against Subject |
None On Record |
|
Judgements Against Principals |
None On Record |
|
Subject Verified as Client |
Yes |
|
Practice Number |
900908 |
|
VAT Number |
4930205184 |
|
Tax Number |
9609215158 |
|
BEE Status |
Unavailable |
|
Financial Year End |
February |
|
No of years in Business |
Unknown |
|
Website |
Unavailable |
|
Comment |
|
Previous
Auditors Information - No Information on Record
|
Vat Number |
4770221960 |
|
Status |
ACTIVE |
|
Vat Liable
Date |
2005/03/01 |
|
Tax Number |
9622222157 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
February |
|
Comment |
|
Black
Economic Empowerment Information - No Information on Record
ISO Information - No
Information on Record Work Mans
Information - No Information on Record
Subsidiaries Information - No Information on Record
Employees
|
Number of
Employees |
40-50 |
|
1.
Salaried employees |
40-50 |
|
2. Waged
employees |
0 |
|
3. Permanent
employees |
40-50 |
|
4. Casual
employees |
0 |
|
5.
Contracted employees |
0 |
|
Comment |
The
subject could not confirm an exact breakdown. |
Company Fleet
Information - No Information on Record
Offices Information -
No Information on Record Branch
Information - No
Information on Record
Organisational Ohart
- No In formation on Record
Company Structure (Ownership)
Note: One level up and all
levels down
|
Holding |
Company |
Sub |
Comment |
|
100 % - AHR INVESTMENT HOLDINGS |
THE NATURAL STONE WAREHOUSE
(PTY)LTD |
None |
|
Key Deals -
No Information on Record
Trade References
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
|
1 |
PROCON GT PROPERT FUND TRUST |
0824444568 |
|
|
|
|
2 |
AIRWAYS |
0313374514 |
|
|
|
|
3 |
STEVAL |
0215344291 |
|
|
Declined |
|
4 |
ARCHMAR RALER |
0215560202 |
|
|
|
Trade
References Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
|
1 |
6 Years |
|
|
Advance |
R 86000 |
Advance |
Good Account |
|
2 |
11 Years |
R1000000.00 |
R1000000 |
30 Days |
R 500000 |
30 Days |
Good Account |
|
3 |
|
|
|
|
|
|
|
|
4 |
3 Years |
R1000000.00 |
R1000000 |
30 Days |
R 500000 |
30 Days |
Good Account |
Judgements - No
information on record
BusinessRescue - No
Information on Record
Default Listing - No
information on record
Notarial Bonds - No information
on record
|
Bank |
ABSA |
|
Branch |
Bussiness
Banking Western Cape |
|
Brach Code |
632005 |
|
Bank
Account Number |
4062932687 |
|
Type of
Account |
Current |
|
Account
Name |
THE
NATURAL STONE WAREHOUSE (PTY)LTD |
|
Overdraft
Facilities |
Yes |
|
Bank Code |
C - For R
100 000 |
|
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
|
Number of
Principals |
2 |
|
Average
Age of Active Principals |
42 |
|
Active Principals Principal - 1 of 2 GUILLAUME MASSON |
|
|
Surname |
MASSON |
|
First Name |
GUILLAUME |
|
Other
Names |
None |
|
Marital
Status |
|
|
ID Number |
7105265414185 |
|
Verified
ID Number |
Yes |
|
Current
Age |
43 Years |
|
Designation |
Director |
|
Status |
Active |
|
Appointment
Date |
2005/03/04 |
|
Physical Address
(at time of Appointment) |
MON REVE
FARM, SIMONDIUM ROAD, KLAPMUTS, PAARL, 7620 |
|
Postal
Address |
P O BOX
37087, CHEMPET, 7442 |
|
Current
Tel Number |
0214618199 |
|
Cell
number |
Unavailable |
|
Shareholding/Membership |
0.00 |
Business
Information for GUILLAUME MASSON
Principal Current Business Interests
|
Company
Name |
Registration No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
G H R
MASSON INVESTMENT HOLDINGS (PTY)LTD |
M2004/035408/07 |
In Business |
10 Years
10 Months |
0 |
No |
|
|
ORM
PROPERTY HOLDINGS CC |
B2008/082512/23 |
Deregistration
Process |
6 Years 6
Months |
0 |
No |
|
|
THE
NATURAL STONE WAREHOUSE (PTY)LTD |
M2003/017117/07 |
In
Business |
11 Years
11 Months |
0 |
No |
|
Principal Previous Business Interests
|
Company Name |
Registration No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
ABSOLUTE
STONE CARE CC |
B1999/026570/23 |
Deregistration Final |
15 Years 3
Months |
0 |
No |
|
|
N S W
SUPPORT SERVICES (PTY)LTD |
M2004/035435/07 |
Deregistration Final |
10 Years
10 Months |
0 |
No |
|
|
OLAGUIPROPERTY CC |
B2000/030534/23 |
Deregistration Final |
14 Years 2
Months |
0 |
No |
|
|
ROSEVEAN
INVESTMENTS 0046 CC |
B2000/029177/23 |
Deregistration Final |
14 Years 2
Months |
0 |
No |
|
|
TIGRUS
PROPERTY MANAGEMENT CC |
B2004/020278/23 |
Deregistration Final |
9 Years 9
Months |
0 |
No |
|
|
UNIWORKS
CONSTRUCTION CC |
B2006/018028/23 |
Deregistration Process |
7 Years 7
Months |
0 |
No |
|
Principal Deeds Information Property
Interests for GUILLAUME MASSON
|
Title Deed
No. |
T114876/2001 |
Erf/Site
No. |
|
|
Deeds
Office |
PRETORIA |
Physical
Address |
49 VILLAGE
IRENE CENTURION |
|
Property
Type |
Freehold |
Extent /
Size |
701.0SQM |
|
Purchase
Date |
2001/05/22 |
Purchase
price |
|
|
%
Ownership |
0.00 |
Bond
Holder |
SAAMBOU
BANK LTD |
|
Bond
Number |
B764842001 |
Bond
Amount |
|
|
Comment |
|
||
HEIDI MASSON
|
Surname |
MASSON |
|
First Name |
HEIDI |
|
Other
Names |
None |
|
Marital
Status |
|
|
ID Number |
7205310008089 |
|
Verified
ID Number |
Yes |
|
Current
Age |
42 Years |
|
Designation |
Director |
|
Status |
Active |
|
Appointment
Date |
2005/03/04 |
|
Physical
Address (at time of Appointment) |
11 ATRINA
WAY, SUNSET BEACH, 7441 |
|
Postal
Address |
P O BOX
438, PAARDENE EILAND, 7420 |
|
Current
Tel Number |
0215061300 |
|
Cell
number |
0823799937 |
|
Shareholding/Membership |
0.00 |
Business Information for HEIDI MASSON
Principal Current Business Interests
|
Company
Name |
Registration No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
G H R
MASSON INVESTMENT HOLDINGS (PTY)LTD |
M2004/035408/07 |
In Business |
10 Years
10 Months |
0 |
No |
|
|
THE
NATURAL STONE WAREHOUSE (PTY)LTD |
M2003/017117/07 |
In Business |
11 Years
11 Months |
0 |
No |
|
Principal
Previous Business Interests
|
Company Name |
Registration No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
N S W SUPPORT SERVICES (PTY)LTD |
M2004/035435/07 |
Deregistration Final |
10 Years
10 Months |
0 |
No |
|
|
ROSEVEAN INVESTMENTS 0046 CC |
B2000/029177/23 |
Deregistration Final |
14 Years 2
Months |
0 |
No |
|
Principal Deeds Information
Property Interests for HEIDI MASSON
|
Title Deed
No. |
T32402/2011 |
Erf/Site
No. |
|
|
Deeds
Office |
PRETORIA |
Physical
Address |
HYDE PARK
SANDTON |
|
Property
Type |
Freehold |
Extent /
Size |
2050.0SQM |
|
Purchase
Date |
2011/03/21 |
Purchase
price |
|
|
%
Ownership |
0.00 |
Bond
Holder |
|
|
Bond
Number |
K28291977S |
Bond
Amount |
|
|
Comment |
|
||
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the untiring
and unflagging efforts of the Indian diamantaires, supported by progressive
Government policies.
-
The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
-
Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and philanthropy.
-
Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
-
Excerpts from Times of India dated 30th October 2010 is as
under –
-
Gem & Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A senior
executive of GJEPC said, “Export of cut and polished diamonds started falling
month-wise after the imposition of 2 % of import duty on the polished diamonds.
But February, 2013 has given a new ray of hope to the industry as the export of
polished diamonds has actually increased by 28 %. It means the industry
is on the track of recovery and round tripping of diamonds has stopped
completely.” Demand has started coming from the US, the UK, Japan and China.
India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
-
The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market
liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.99 |
|
|
1 |
Rs.101.75 |
|
Euro |
1 |
Rs.83.48 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PDT |
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.