|
Report Date : |
01.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
ORO |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
23.04.1998 |
|
|
|
|
Com. Reg. No.: |
M1998/007629/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
The
subject operates as a manufacture and wholesalers of jewelry |
|
|
|
|
No. of Employees : |
60 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
South Africa |
A2 |
A2 |
|
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 |
|
Subject
Name |
ORO
AFRICA (PTY) LTD |
|
Country |
South
Africa |
|
Subject
Contact Person |
CHARL
CRONJE - FINANCIAL MANAGER |
|
Assessment |
This
is an established business. On investigation contact was made with CHARL
CRONJE the financial manager. The subject is meeting commitments timeously
with suppliers. We obtained a bank code C for R 2 000 000 over a period of 30
days. Please see the available information on the subject below. |
|
Registered
Name |
ORO
AFRICA (PTY)LTD |
|
Trading
as/ Division Name |
ORO
AFRICA |
|
Previous
Name |
None |
|
Date
of Name Change |
None |
|
Registration
Number |
M1998/007629/07 |
|
Registration
Date |
1998/04/23 |
|
Date
Commenced Trading |
1998-04-23 |
|
Age
of Business |
16
Years 4 Months |
|
History
of Business |
The
subject commenced trading as a new company in 1998. |
|
History
of Principals |
There
are 4 active directors within the company. |
|
Shareholders/Members/Partners
of subject and % holding |
100
% - ORO GROUP |
|
Authorised
Share Capital |
|
|
Issued
Share Capital/Members Contribution |
|
|
Status |
In
Business |
|
Operations
Assessment |
The
subject operates as a manufacture and wholesalers of jewelry |
|
Industry/
Customers |
The
private sector |
|
Export |
Yes |
|
Export
Countries |
China,Italy |
|
Import |
Yes |
|
Import
Countries |
India |
|
Major
Industry Code / SICC |
39211 |
|
Definition
of Code |
Jewellery
and related articles of precious and semiprecious compounts |
|
Head
Office Physical Address |
170
BUITENGRACHT STREET, CAPE TOWN, 8001 |
|
Head
Office Postal Address |
P
O BOX 16552, VLAEBERG, 8018 |
|
Current
Tel Number |
0214809860 |
|
Cell
Number |
|
|
Current
Fax Number |
0214264140 |
|
Current
Email Address |
|
|
Web
Site Address |
|
|
Comments |
- |
|
Company
Registered Name |
GRANT
THORNTON ASSOCIATES |
|
Trading
Name |
None |
|
Registration
Number |
PARTNERSHIP |
|
Physical
Address |
6th
Floor, 119 Hertzog Boulevard, Foreshore, CAPE TOWN, 8001 |
|
Postal
Address |
PO
BOX 7489, ROGGEBAAI, 8012 |
|
Contact
Person |
BRADLEY
JACKSON |
|
Contact
Number |
0214178804 |
|
Email |
|
|
Principals |
|
|
Judgements
Against Subject |
Unavailable |
|
Judgements
Against Principals |
Unavailable |
|
Subject
Verified as Client |
Yes |
|
Practice
Number |
913596E |
|
VAT
Number |
Unavailable |
|
Tax
Number |
Unavailable |
|
BEE
Status |
Unavailable |
|
Financial
Year End |
Unavailable |
|
No
of years in Business |
7
Years 5 Months |
|
Website |
Unavailable |
|
Comment |
- |
Previous
Auditors Information - No Information on Record
|
Vat
Number |
4570173825 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
1998/07/01 |
|
Tax
Number |
9434251840 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
March |
|
Comment |
|
Black
Economic Empowerment
|
|
|
Status |
Yes |
|
Score |
9.00 |
|
Expire
Date |
Jun
30 2015 |
|
BEE
Certificate Available |
No |
|
Comment |
|
|
|
|
|
ISO
Information - No Information on Record |
|
Workman's
compensation
|
|
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
|
Comment |
|
Subsidiaries
Information - No Information on Record
|
Employees |
||||
|
|
|
|||
|
Number
of Employees |
60 |
|||
|
1.
Salaried employees |
60 |
|||
|
2.
Waged employees |
0 |
|||
|
3.
Permanent employees |
60 |
|||
|
4.
Casual employees |
0 |
|||
|
5.
Contracted employees |
0 |
|||
|
Comment |
|
|||
|
Company
Fleet |
||||
|
Company
Fleet |
No
of vehicles: |
Owned/Leased |
Value |
Outstanding
Balance |
|
Fleet
Operations |
|
|
|
|
|
The
Fleet is made up of |
3 |
|||
|
Comment |
|
|||
|
Cars |
1 |
Owned |
R
50000.00 |
|
|
Light
delivery Vehicles |
1 |
Owned |
R
70000.00 |
|
|
Other |
1 |
Owned |
R
20000.00 |
|
|
Office |
||
|
Offices |
Offices |
|
|
Head
Office Owned/ Rented |
Leased |
|
|
Rental
Company |
ORO
PROPS (PTY)LTD |
|
|
Lease
Agreement |
5
Years |
|
|
Lease
Expire Date |
2017-03-31 |
|
|
Type
of Premises |
Office
blocks |
|
|
Comment |
|
|
|
Branch
Information |
||
|
Branches Names |
Country |
Province |
|
ORO AFRICA (PTY)LTD |
South Africa |
GAUTENG |
|
Branch
Detail Information |
||
|
Branches
Owned/ Rented |
Leased |
|
|
Lease
Agreement |
5
Years |
|
|
Lease
Expire Date |
2017-03-31 |
|
|
Type
of Premises |
Office
Blocks |
|
Organisation Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
Director |
MORRIS STRUL |
|
|
|
|||
|
1 |
Director |
DAVID LAZAR
DREDZEN |
|
|
|
|||
|
1 |
Director |
GARY LEONARD
NATHAN |
|
|
|
|||
|
1 |
Director |
STEVEN JEFFREY
NATHAN |
|
Company Structure
(Ownership)
Note: One level up
and all levels down
|
Holding |
Company |
Sub |
Comment |
|
100% - ORO GROUP |
ORO AFRICA
(PTY)LTD |
|
|
Key Deals - No Information on Record
|
Trade Reference nr |
Supplier |
Contact |
Surety
Value |
Notarial Bonds |
Comment |
|
1 |
EPPING INDUSTRIAL SUPPLIERS |
0215316666 |
|
|
|
|
2 |
TOLL FOWARDING |
0215309800 |
|
|
|
|
3 |
PROTEA DIAMONDS |
0114847205 |
|
|
|
Trade References Detail
|
Nr |
Age
of Acc |
Credit
Limit |
Max
Credit |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
|
1 |
5 Years |
R 50000.00 |
R 50000 |
30
Days |
R 25000 |
30 Days |
This is a good
account |
|
2 |
3 Years |
R 2000000.00 |
R1500000 |
7 Days |
R 400000 -500000 |
7 Days |
This is a very good account. |
|
3 |
5 Years |
R 500000.00 |
R 500000 |
90
Days |
R 40000 - 200000 |
90 Days |
This is a very good account. |
Judgements
- No information on record
Business
Rescue - No Information on Record
Default
Listing - No information on record
Notarial
Bonds - No information on record
|
Bank |
NEDBANK |
|
Branch |
PARKTOWN |
|
Brach
Code |
198765 |
|
Bank
Account Number |
1944144870 |
|
Type
of Account |
CURRENT
ACCOUNT |
|
Account
Name |
ORO
AFRICA (PTY)LTD |
|
Overdraft
Facilities |
YES |
|
Bank
Code |
C
FOR - R2000000 |
|
Bank
Comment |
The
subject's bankers consider them good for all normal business engagements |
Bank Code History –
No information on record
Previous Bank account
Information – No information on
Deeds Information –
No information on record
Financial Estimates
|
CURRENT
ASSETS |
|
|
Stock |
|
|
Debtors |
|
|
FIXED
ASSETS |
|
|
Plant,
Equipment, Vehicles |
|
|
Property |
|
|
CURRENT
LIABILITIES |
|
|
Creditors |
|
|
Loans/
From? |
|
|
Loan
Details |
|
|
LONG
TERM LIABILITIES |
|
|
Morgage
Bonds |
|
|
Previous
Year Turnover |
R170000000.00 |
|
Estimated
Current Year Turnover |
R170000000.00 |
|
Current
Turnover per month |
R146666667.00 |
|
Current
Turnover per annum |
R170000000.00 |
|
Comment |
|
|
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 |
4 |
|
Average
Age of Active Principals |
53 |
|
Active Principals Active Principal - 1 of 4 MORRIS STRUL |
|
|
Surname |
STRUL |
|
First
Name |
MORRIS |
|
Other
Names |
|
|
Marital
Status |
Married |
|
ID
Number |
4905125027009 |
|
Verified
ID Number |
Yes |
|
Current
Age |
64
Years 8 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
1998/11/01 |
|
Physical
Address (at time of Appointment) |
901
CINNABAR, CORNER ATLANTIC AND MAIN ROADS, MUIZENBERG, 7945 |
|
Postal
Address |
901
CINNABAR, CORNER ATLANTIC AND MAIN ROADS, MUIZENBERG, 7945 |
|
Current
Tel Number |
0214809880 |
|
Cell
number |
|
|
Shareholding/Membership |
0.00 |
Principal's
Adverse - No information on record
Business Information for MORRIS STRUL
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
FARAMOST REALTY
CC |
B2008/079667/23 |
In
Business |
6
Years 6 Months |
0 |
No |
|
|
GOLDRING
MANUFACTURING JEWELLERS CC |
B1998/007726/23 |
|
16 Years 4 Months |
0 |
No |
|
|
ORO AFRICA
(PTY)LTD |
M1998/007629/07 |
In
Business |
16 Years 4 Months |
0 |
No |
|
|
SUMMERFIELDS SYNDICATE (PTY)LTD |
M1971/005982/07 |
In
Business |
43 Years 7 Months |
0 |
No |
|
|
VOICE
OF GOLD CC |
B1996/008365/23 |
Deregistration
Final |
18 Years 6 Months |
0 |
No |
|
Principal Previous
Business Interests
|
Average age of Previous Business |
16 years |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
ETERNITI
JEWELLERY (PTY)LTD |
M1998/022685/07 |
In Business |
16 Years 4 Months |
0 |
No |
|
Principal’s Deeds information – No information on Record
Active Principal - 2 of 4
DAVID DREDZEN
|
Surname |
DREDZEN |
|
First
Name |
DAVID |
|
Other
Names |
LAZAR |
|
Marital
Status |
Married |
|
ID
Number |
6811075075089 |
|
Verified
ID Number |
Yes |
|
Current
Age |
45
Years 9 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
1998/08/28 |
|
Physical
Address (at time of Appointment) |
89
CARISBROOK STREET, SYDENHAM, 2192 |
|
Postal
Address |
P
O BOX 2197, HOUGHTON, 2041 |
|
Current
Tel Number |
0116459260 |
|
Cell
number |
0825637709 |
|
Shareholding/Membership |
0.00 |
Principal's
Adverse - No information on record
Business
Information for DAVID DREDZEN
Principal Current Business
Interests
|
Company
Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
ORO AFRICA
(PTY)LTD |
M1998/007629/07 |
In Business |
16 Years 4 Months |
0 |
No |
|
Principal Previous Business Overview
|
Average age of Previous Business |
16 years |
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
ETERNITI
JEWELLERY (PTY)LTD |
M1998/022685/07 |
In Business |
16
Years 4 Months |
0 |
No |
|
|
ORO
AFRICA AND DESIGN (PTY)LTD |
M1998/015764/07 |
In Business |
16
Years 4 Months |
0 |
No |
|
Principal's Deeds Information - No
information on record
Active Principal - 3 of 4
GARY NATHAN
|
Surname |
NATHAN |
|
First
Name |
GARY |
|
Other
Names |
LEORNARD |
|
Marital
Status |
Married |
|
ID
Number |
6502135162088 |
|
Verified
ID Number |
Yes |
|
Current
Age |
49
Years 6 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
1998/08/28 |
|
Physical
Address (at time of Appointment) |
15
BLAIR ROAD, CAMPSBAY, 8002 |
|
Postal
Address |
P
O BOX 16552, VLAEBERG, 8001 |
|
Current
Tel Number |
0114833778 |
|
Cell
number |
0824121262 |
|
Shareholding/Membership |
0.00 |
Principal's
Adverse - No information on record
Business Information for GARY NATHAN
Principal Current
Business Interests
|
Company
Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
BASFOUR
121 CC |
B2008/242973/23 |
In Business |
6
Years 6 Months |
0 |
No |
|
|
CENERE
ITALY (PTY)LTD |
M2002/020328/07 |
In Business |
0 |
0 |
No |
|
|
ORO
AFRICA (PTY)LTD |
M1998/007629/07 |
In Business |
16
Years 4 Months |
0 |
No |
|
|
ORO
AFRICA AND DESIGN (PTY)LTD |
M1998/015764/07 |
In Business |
16
Years 4 Months |
0 |
No |
|
|
ORO
GROUP (PTY)LTD |
M1998/012984/07 |
In Business |
16
Years 4 Months |
0 |
No |
|
Principal’s Deeds Information 0 No Information on record
Active Principal – 4 of 4
Steven Nathan
|
Surname |
NATHAN |
|
First
Name |
STEVEN |
|
Other
Names |
JEFFREY |
|
Marital
Status |
Single |
|
ID
Number |
6205115218009 |
|
Verified
ID Number |
Yes |
|
Current
Age |
52
Years 3 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
1998/04/23 |
|
Physical
Address (at time of Appointment) |
35
THE PRESIDENT, 51 ALEXANDER ROAD, BANTRY BAY, CAPE TOWN, 8005 |
|
Postal
Address |
P
O BOX 16552, VLAEBERG, CAPE TOWN, 8018 |
|
Current
Tel Number |
0214809860 |
|
Cell
number |
0824143544 |
|
Shareholding/Membership |
0.00 |
Principal's Adverse
- No information on record
Business
Information for STEVEN NATHAN
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
ART
CAVRON (PTY)LTD |
M1961/002546/07 |
Deregistration
Final |
53
Years 5 Months |
0 |
No |
|
|
BENFRI MANUFACTURING
(PTY)LTD |
M1989/000583/07 |
Deregistration
Process |
25
Years 1 Months |
0 |
No |
|
|
BLEND PROPERTY 17
(PTY)LTD |
M2007/015849/07 |
In
Business |
7
Years 7 Months |
0 |
No |
|
|
CENERE
ITALY (PTY)LTD |
M2002/020328/07 |
In
Business |
0 |
0 |
No |
|
|
DIAMOND BLUE INTERNATIONAL CC |
B1994/009213/23 |
Deregistration
Process |
20
Years 8 Months |
0 |
No |
|
|
ETERNITI JEWELLERY (PTY)LTD |
M1998/022685/07 |
In
Business |
16
Years 4 Months |
0 |
No |
|
|
FILK GOLD
PROPERTIES CC |
M1997/059911/23 |
|
17
Years 5 Months |
0 |
No |
|
|
GOLD
CLASP CC |
B1994/012189/23 |
In
Business |
20
Years 8 Months |
0 |
No |
|
|
GOLDRING
MANUFACTURING JEWELLERS CC |
B1998/007726/23 |
|
16
Years 4 Months |
0 |
No |
|
|
HUNTERAX (PTY)LTD |
M1968/013309/07 |
In
Business |
46
Years 10 Months |
0 |
No |
|
|
LAURA AND CLARA PROPERTY
INVESTMENTS CC |
B1997/033752/23 |
Deregistration
Final |
17
Years 5 Months |
0 |
No |
|
|
LUSSO SHOWROOM (PTY)LTD |
M1995/003626/07 |
Deregistration
Process |
19
Years 7 Months |
0 |
No |
|
|
NATHAN BROTHERS
INTERNATIONAL (PTY)LTD |
M1972/005536/07 |
Deregistration
Final |
42
Years 6 Months |
0 |
No |
|
|
NATKAT INVESTMENTS
CC |
B1989/023513/23 |
Deregistration
Final |
25
Years 1 Months |
0 |
No |
|
|
ORO
AFRICA (PTY)LTD |
M1998/007629/07 |
In
Business |
16
Years 4 Months |
0 |
No |
|
|
ORO
AFRICA AND DESIGN (PTY)LTD |
M1998/015764/07 |
In
Business |
16
Years 4 Months |
0 |
No |
|
|
ORO
GROUP (PTY)LTD |
M1998/012984/07 |
In
Business |
16
Years 4 Months |
0 |
No |
|
|
SWISH
PROPERTY FOUR (PTY)LTD |
M2004/031414/07 |
Deregistration
Final |
10
Years 10 Months |
0 |
No |
|
|
TRESSO
TRADING 679 (PTY)LTD |
M2002/029620/07 |
In
Business |
0 |
0 |
No |
|
|
YELLOWTAIL
TRADING 17 CC |
B2005/045412/23 |
Deregistration
Final |
9
Years 9 Months |
0 |
No |
|
Principal Previous Business
Interests
Average Age
of Previous Business - 28 Years
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
AVINAN
INVESTMENTS CC |
B1996/061903/23 |
Deregistration
Process |
18
Years 6 Months |
0 |
No |
|
|
CHANPROP
CC |
B1988/032644/23 |
Deregistration
Process |
26
Years 2 Months |
0 |
No |
|
|
HARLOMANE INVESTMENTS (PTY)LTD |
2004/019803/07 |
In
Business |
10
Years 10 Months |
0 |
No |
|
|
ORO
CHAINS (PTY)LTD |
M1997/006649/07 |
In
Business |
17
Years 5 Months |
0 |
No |
|
|
PALMBROOKE
INVESTMENTS (PTY)LTD |
M1999/013846/07 |
Conversion
CO/CC or CC/CO |
15
Years 3 Months |
0 |
No |
|
|
RAND
REFINERY LTD |
M1920/006598/06 |
In
Business |
94 Years 10
Months |
1 |
No |
|
|
SECUREDATA
HOLDINGS LTD |
M1998/010017/06 |
In
Business |
16
Years 4 Months |
0 |
No |
|
Principal's Deeds Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.61 |
|
|
1 |
Rs.100.28 |
|
Euro |
1 |
Rs.78.21 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.