MIRA INFORM REPORT

Report Date :

03.11.2014

IDENTIFICATION DETAILS

Name :	POLYCORP MANUFACTURERS (PTY) LTD

Registered Office :	36 Yarborough Road, Unit Ii M Kondeni, Pietermaritzburg, 3201

Country :	South Africa

Date of Incorporation :	08.12.2011

Com. Reg. No.:	K2011/143942/07

Legal Form :	Private Company

Line of Business :	· The subject manufactures piping · The construction industry

No of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Unknown
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 – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

South Africa

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	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 summary

Subject Name	POLYCORP MANUFACTURERS (PTY) LTD
Country	South Africa
Subject Contact Person	MOHAMMED SHAAZ MOOSA - DIRECTOR
Assessment	This is a new business. On investigation contact was made with MOHAMMED SHAAZ MOOSA the director, who requested the name of the principal inquirer before he could provide any information. Please see the available information provided on the subject below.

Company Structure

Subsidiaries Information - No Information on Record

Employees Information - No Information on Record

Company Fleet Information - No Information on Record

Offices Information - No Information on Record

Branch Information - No Information on Record

Management Overview

Organizational 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 References Information - No Information on Record

Adverse Information on Subject

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

Principals

Number of Principals	2
Average Age of Active Principals	41
Active Principals Active Principal - 1 of 2 DEHANA SULEMAN
Surname	SULEMAN
First Name	DEHANA
Other Names
Marital Status	Married
ID Number	6211080256057
Verified ID Number	No
Current Age	51 Years 11 Months
Designation	DIRECTOR
Status	Active
Appointment Date	2012/12/10
Physical Address (at time of Appointment)	UNIT 11, 36 YARBOROUGH ROAD, MKONDENI, PIETERMARITZBURG, 3201
Postal Address	P O BOX 680, LUXMI, 3207
Current Tel Number	0333874896
Cell number	0721909625
Shareholding/Membership	0.00

Business Information for DEHANA SULEMAN

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
ALLANDALE HYPER CC	B1996/016336/23	Deregistration Process	18 Years 6 Months	0	No
FABRIC DESIGNS	6211080256057		Unknown	0	No
PEOPLES BUTCHERY	6211080256057		Unknown	0	No
POLYCORP MANUFACTURERS (PTY)LTD	K2011/143942/07	Deregistration Process	3 Years 3 Months	0	No

Active Principal - 2 of 2

MOHAMMED MOOSA

Surname	MOOSA
First Name	MOHAMMED
Other Names	SHAAZ
Marital Status	Married
ID Number	8403165219088
Verified ID Number	Yes
Current Age	30 Years 7 Months
Designation	DIRECTOR
Status	Active
Appointment Date	2011/12/08
Physical Address (at time of Appointment)	6 NEEDEN ROAD, MONTROSE, PIETERMARITZBURG, KWA-ZULU NATAL, 3201
Postal Address	P O BOX 680, LUXMI, KWA-ZULU NATAL, 3207
Current Tel Number	0333471144
Cell number	0788819101
Shareholding/Membership	0.00

Principal’s Adverse – No Information on Record

Business Information for MOHAMMED MOOSA

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
ABSHA INVESTMENTS CC	B2007/116343/23	Deregistration Process	7 Years 7 Months	0	No
DIVINE INSPIRATION TRADING 488 (PTY)LTD	M2007/034557/07	In Business	7 Years 7 Months	0	No
GOLDBAR TRADING CC	B2004/127107/23	Deregistration Final	10 Years 10 Months	0	No
LEATHERS OF LOVE MANUFACTURING CC	2006/033095/23	Deregistration Final	8 Years 8 Months	0	No
POLYCORP MANUFACTURERS (PTY)LTD	K2011/143942/07	Deregistration Process	3 Years 3 Months	0	No
QUATRO BUSINESS (PTY)LTD	K2014/171068/07	In Business	0	0	No
SERENGETTI TRADING CC	B2007/184020/23	Voluntary Liquidation	7 Years 7 Months	0	Yes
SHAAZ MOOSA FINANCIAL SERVICES UBUNTU SUPPLIES	8403165219088		Unknown	0	No
SHAAZRAS INVESTMENTS CC	B2006/028206/23	Voluntary Liquidation	8 Years 8 Months	0	Yes
SHAAZURA INVESTMENTS CC	B2005/014398/23	Voluntary Liquidation	9 Years 9 Months	1	Yes

Principal Previous Business Interest

Average Age of Previous Business 3 Years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation
JAG TEXTILES (PTY)LTD	K2011/120390/07	In Business	3 Years 3 Months	0	No

Principal Deeds Information

Principal Previous Business Interests

Property Interest For MOHAMMED MOOSA

Title Deed No.	T3251/2006	Erf/Site No.	621
Deeds Office	PIETERMARITZBURG	Physical Address	7 SCORPIO LOTFIVE
Property Type	F	Extent / Size	607.00000000
Purchase Date	2005/09/26	Purchase price	R 700000.00
% Ownership	0.00	Bond Holder	STANDARD BANK OF SOUTH AFRICA LTD
Bond Number	B40012006	Bond Amount	R 630000.00
Property Interests for MOHAMMED MOOSA
Title Deed No.	ST54758/2006	Erf/Site No.	575,0
Deeds Office	PIETERMARITZBURG	Physical Address	1 RODGERS NEW ENGLAND PIETERMARITZBURG
Property Type	U	Extent / Size
Purchase Date	2006/05/04	Purchase price	R 525000.00
% Ownership	0.00	Bond Holder	STANDARD BANK OF SOUTH AFRICA L
Bond Number	SB669392006	Bond Amount	R 525000.00
Property Interests for MOHAMMED MOOSA
Title Deed No.	T7137/2011	Erf/Site No.	1913
Deeds Office	PIETERMARITZBURG	Physical Address	2 RUTLAND SCOTTSVILLE PIETERMARITZBURG
Property Type	E	Extent / Size
Purchase Date	2010/10/21	Purchase price	R 400000.00
% Ownership	0.00	Bond Holder
Bond Number		Bond Amount	R 0.00
Property Interests for MOHAMMED MOOSA
Title Deed No.	T22660/2007	Erf/Site No.	405
Deeds Office	PIETERMARITZBURG	Physical Address	43 TRICHY RAISETHORPE PIETERMARITZBURG
Property Type	E	Extent / Size
Purchase Date	2006/12/20	Purchase price	R 520000.00
% Ownership	0.00	Bond Holder	STANDARD BANK OF SOUTH AFRICA L
Bond Number	B268902007	Bond Amount	R 520000.00
Property Interests for MOHAMMED MOOSA
Title Deed No.	T62161/2006	Erf/Site No.	97
Deeds Office	PIETERMARITZBURG	Physical Address	60 SAMANA PIETERMARITZBURG
Property Type	F	Extent / Size	594.00000000
Purchase Date	2006/07/17	Purchase price	R715000.00
% Ownership	0.00	Bond Holder	ABSA BANK LTD
Bond Number	B758212006	Bond Amount	R715000.00

Title Deed No.	T62161/2006	Erf/Site No.	97
Deeds Office	PIETERMARITZBURG	Physical Address	60 SAMANA PIETERMARITZBURG
Property Type	F	Extent / Size	594.00000000
Purchase Date	2006/07/17	Purchase price	R715000.00
% Ownership	0.00	Bond Holder	ABSA BANK LTD
Bond Number	B758212006	Bond Amount	R715000.00
Comment
Property Interests for MOHAMMED MOOSA
Title Deed No.	T62161/2006	Erf/Site No.	97
Deeds Office	PIETERMARITZBURG	Physical Address	60 SAMANA PIETERMARITZBURG
Property Type	F	Extent / Size	594.00000000
Purchase Date	2006/07/17	Purchase price	R715000.00
% Ownership	0.00	Bond Holder	ABSA BANK LTD
Bond Number	B758212006	Bond Amount	R715000.00
Comment
Property Interests for MOHAMMED MOOSA
Title Deed No.	T35919/2005	Erf/Site No.	1203
Deeds Office	PIETERMARITZBURG	Physical Address	4 BOMBAY NORTHDALE PIETERMARITZBURG
Property Type	E	Extent / Size
Purchase Date	2005/06/03	Purchase price	R 220000.00
% Ownership	0.00	Bond Holder	FIRSTRAND BANK LTD
Bond Number	B401992005	Bond Amount	R 220000.00

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.41
UK Pound	1	Rs.98.06
Euro	1	Rs.77.19

INFORMATION DETAILS

Analysis Done by :	DIV

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.

Registered Name	POLYCORP MANUFACTURERS (PTY)LTD
Trading as/ Division Name	None
Previous Name	None
Date of Name Change	None
Registration Number	K2011/143942/07
Registration Date	2011/12/08
Date Commenced Trading	2011-12-08
Age of Business	2 Years 10 Months
History of Business	The subject commenced trading as a new company in 2011.
History of Principals	There are 2 active directors within the company
Shareholders/Members/Partners of subject and % holding	Unavailable
Authorised Share Capital
Issued Share Capital/Members Contribution
Status	Deregistration Process
Operations Assessment	The subject manufactures piping
Industry/ Customers	The construction industry
Export	None
Export Countries
Import	None
Import Countries
Major Industry Code / SICC	35102
Definition of Code	Steel pipe and tube mills
Head Office Physical Address	36 Yarborough Road, Unit Ii M Kondeni, Pietermaritzburg, 3201
Head Office Postal Address	Unavailable
Current Tel Number	0827862922
Cell Number	0823786781
Current Fax Number	0865601886
Current Email Address	msm@netroweb.co.za
Web Site Address	www.polycorp.co.za (Under Construction)
Comments