MIRA INFORM REPORT

Report Date :

16.10.2014

IDENTIFICATION DETAILS

Name :	DIVERSIFIED ALLOYS (PTY) LTD

Registered Office :	5 Jockey Street, Strom Mill, Roodepoort, 1724, Po Box 6200, Midrand, 1685

Country :	South Africa

Date of Incorporation :	19.03.1996

Com. Reg. No.:	M1996/003347/07

Legal Form :	Private Company

Line of Business :	Manufacture of Basic Iron and Steel.

No of Employees :	12

RATING & COMMENTS

MIRA’s Rating :

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

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	DIVERSIFIED ALLOYS (PTY)LTD
Country	South Africa
Subject Contact Person	NATALIE MACMAHON - Accountant
Assessment	This is an established business. On investigation contact was made with NATALIE MACMAHON the accountant. The subject is meeting commitments timeously with suppliers. We are awaiting 1 further trade reference. No further suppliers were made available to obtain additional trade references. We obtained a bank code F for R150 000 over a period of 30 days. Please see the available information on the subject below.

Auditors information

Company Registered Name	DELOITTE & TOUCHE INC
Trading Name	DELOITTE & TOUCHE
Registration Number	1963/004547/06
Physical Address	20 Woodlands Drive, Woodlands, WOODMEAD
Postal Address	PRIVAT BAG X6, GALLO MANOR, 2052
Contact Person	JULLIAN
Contact Number	0118065000
Email	Unavailable
Principals
Judgements Against Subject
Judgements Against Principals
Subject Verified as Client	Yes
Practice Number	926973
VAT Number	Unavailable
Tax Number	Unavailable
BEE Status	Unavailable
Financial Year End	Unavailable
No of years in Business	5 Years 4 Months
Website	www.deloitte.com
Comment

Previous Auditors Information - No Information on Record

Tax information

Vat Number	4430157364
Status	ACTIVE
Vat Liable Date	1996/03/19
Tax Number	9388156847
Tax Clearance Expire Date
Financial Year End	February
Comment

Black Economic Empowerment Information - No Information on Record

ISO Information - No Information on Record

Workman's compensation

Registered	Yes
Compliance Certified	Yes
Comment

Company Structure

Subsidiaries Information - No Information on Record

Employees

Number of Employees	12
1. Salaried employees	12
2. Waged employees
3. Permanent employees	12
4. Casual employees
5. Contracted employees
Comment
Company Fleet
Company Fleet	No of vehicles:	Owned/Leased	Value	Outstanding Balance
Fleet Operations
The Fleet is made up of	8
Comment
Light delivery Vehicles	4	Owned
Trucks	2	Owned
Fork Lifts	2	Owned

Offices

Offices	Offices
Head Office Owned/ Rented	Leased
Rental Company	WEALTHGATE INVESTMENTS 183
Type of Premises	Office blocks with a warehouse

Branch Information - No Information on Record

Management Overview

Organization Chart

Level	Position	Name
1	DIRECTOR	NICHOLAS JOHN DESILLA
1	DIRECTOR	COLIN WILSON
1	DIRECTOR	MARTIN LIEBENBERG

Company structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub
100% - AFNETCO (PTY) LTD	DIVERSIFIED ALLOYS (PTY) LTD	NONE

Key Deals - No Information on Record

Trade References

Trade Reference nr	Supplier	Contact	Comment
1	STEELMOR	0447475400
2	METAL AND TOOL TRADE	0113943681
3	NATIONAL STAIN AND STEEL	0115528800	Awaiting trade reference

Trade References Details

Nr	Age of Acc	Credit Limit	Max Credit	Terms	Average Purchases	Terms Taken	Comment
1	15 Years	R 200000.00	R 200000	30 Days	R150000	30 Days	Good account
2	5 Years	R100000.00	R100000	30 Days	R 80000	30 Days	Good account

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

Bank	ABSA
Branch	SANDTON BUSINESS
Brach Code	632005
Bank Account Number	40763869100
Type of Account	CURRENT
Account Name	DIVERSIFIED ALLOYS (PTY) LTD
Overdraft Facilities	YES
Bank Code	F - For - R 150 000
Bank Comment	The subject's bankers advise that their financial position is unknown and they are unable to comment.

Bank Code History - No Information on Record

Previous Bank Account Information - No Information on Record

Deeds Information - No information on record

Financials information

FINANCIALS ESTIMATES

CURRENT ASSETS
Previous Year Turnover	R 26000000.00

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

Principals

Number of Principals	3
Average Age of Active Principals	48
Active Principals Active Principal - 1 of 3 JOAHNNES LIEBENBERG
Surname	LIEBENBERG
First Name	JOAHNNES
Other Names	None
Marital Status	Married
ID Number	6407235088086
Verified ID Number	Yes
Current Age	48 Years 11 Months
Designation	DIRECTOR
Status	Active
Appointment Date	1996/04/15
Physical Address (at time of Appointment)	48 MILKYWAY AVENUE, LINBRO PARK, JOHANNESBURG, 2065
Postal Address	PO BOX 1027, RANDPARK RIDGE, JOHANNESBURG, 2196
Current Tel Number	0114742964
Cell number	0832633624
Shareholding/Membership

Principals Adverse – No Information on Record

Business Information for JOAHNNES LIEBENBERG

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

Active Principal - 2 of 3

COLIN WILSON

Surname	WILSON
First Name	COLIN
Other Names	None
Marital Status	Married
ID Number	6212195145086
Verified ID Number	Yes
Current Age	50 Years 6 Months
Designation	DIRECTOR
Status	Active
Appointment Date	2006/11/30
Physical Address (at time of Appointment)	39 DUNDALK AVENUE, PARKVIEW, JOHANNESBURG, 2010
Postal Address	P O BOX 6200, MIDRAND, 2090
Current Tel Number	0117022363
Cell number	0829001095
Shareholding/Membership

Principals Adverse – No Information on Record

Business Information for JOAHNNES LIEBENBERG

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

Active Principal - 3 of 3

NICHOLAS DESILLA

Surname	DESILLA
First Name	NICHOLAS
Other Names	None
Marital Status	Married
ID Number	6812065228084
Verified ID Number	Yes
Current Age	44 Years 6 Months
Designation	DIRECTOR
Status	Active
Appointment Date	2007/08/31
Physical Address (at time of Appointment)	27 STEENBOK STREET, MORNINGSIDE, 2010
Postal Address	P O BOX 6200, MIDRAND, 2090
Current Tel Number	0114400009
Cell number	0873101910
Shareholding/Membership

Principals Adverse – No Information on Record

Business Information for JOAHNNES LIEBENBERG

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.61.11
UK Pound	1	Rs.98.15
Euro	1	Rs.77.68

INFORMATION DETAILS

Analysis Done by :	SUB

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	DIVERSIFIED ALLOYS (PTY)LTD
Trading as/ Division Name	DIVERSIFIED ALLOYS
Previous Name	None
Date of Name Change	None
Registration Number	M1996/003347/07
Registration Date	1996/03/19
Date Commenced Trading	1996-03-19
Age of Business	17 Years 3 Months
History of Business	The subject commenced trading as a new company in 1996. The subject is part of the Euro Steel Group.
History of Principals	There are 3 active directors within the company.
Shareholders/Members/Partners of subject and % holding	100 % - AFNETCO PTY LTD
Authorised Share Capital
Issued Share Capital/Members Contribution
Status	In Business
Operations Assessment	The subject deals in the import and supply of steel
Industry/ Customers	All major retailers
Export	Unknown
Export Countries
Import	Yes
Import Countries
Major Industry Code / SICC	3510
Definition of Code	MANUFACTURE OF BASIC IRON AND STEEL
Head Office Physical Address	5 Jockey Street, Strom Mill, Roodepoort, 1724
Head Office Postal Address	Po Box 6200, Midrand, 1685
Current Tel Number	0873100500
Cell Number
Current Fax Number	0867437789
Current Email Address	nmacmahon@eurosteel.co.za
Web Site Address	www.eurosteel.co.za
Comments	The Address Provided below is the Head Office address : 331 DAME STREET, WADEVILLE, GERMISTON, 1428

MIRA INFORM REPORT

Company summary

Company information

Auditors information

Tax information

Offices

Adverse Information on Subject

Bank Information

Financials information

Principals

Unit