|
Report Date : |
16.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
FISH ON LINE (PTY) LTD. |
|
|
|
|
Formerly Known As : |
FISH ON LINE CC |
|
|
|
|
Registered Office : |
20 Vrystaat Road, Paarden Eiland, Cape Town 7441 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
17.06.2005 |
|
|
|
|
Com. Reg. No.: |
M2005/021351/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
The subject operates as a registered importer, warehouse and
distributor of seafood. |
|
|
|
|
No. of Employees : |
35 |
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 |
FISH ON LINE (PTY)LTD |
|
Country |
South Africa |
|
Subject Contact Person |
NICKY DE OLIVERIA - FINANCIAL MANAGER |
|
Assessment |
This is a well-established business. On investigation contact
was made with NICKY DE OLIVERIA who assisted with the information. The
subject is meeting commitments with the obtainable suppliers. No further
suppliers were made available. Financial details were declined. Please see
the information obtained on the subject below. |
|
Registered Name |
FISH ON LINE (PTY)LTD |
|
Trading as/ Division Name |
FISH ON LINE |
|
Previous Name |
FISH ON LINE CC |
|
Date of Name Change |
2005-06-17 |
|
Registration Number |
M2005/021351/07 |
|
Registration Date |
2005/06/17 |
|
Date Commenced Trading |
1999 |
|
Age of Business |
7 Years 6 Months |
|
History of Business |
FISH ON LINE (PTY)LTD was previously a Close Corporation
trading since 1999 and later converted to a private company in 2005. |
|
History of Principals |
There are 3 active directors within the company. |
|
Shareholders/Members/Partners of subject and % holding |
100 % - LONRHO HOLDINGS (PTY) LTD |
|
Authorised Share Capital |
R1000.00 |
|
Issued Share Capital/Members Contribution |
R 100.00 |
|
Status |
In Business |
|
Operations Assessment |
The subject operates as a registered importer, warehouser
and distributor of seafood. |
|
Industry/ Customers |
The subject supplies to retailers and wholesalers. |
|
Export |
Yes |
|
Export Countries |
|
|
Import |
Yes |
|
Import Countries |
|
|
Major Industry Code / SICC |
3012 |
|
Definition of Code |
PROCESSING AND PRESERVING OF FISH AND FISH PRODUCTS |
|
Head Office Physical Address |
20 Vrystaat Road, Paarden Eiland, Cape Town, South Africa,
7441 |
|
Head Office Postal Address |
20 Vrystaat Road, Paarden Eiland, Cape Town, South Africa,
7441 |
|
Current Tel Number |
0215105638 |
|
Cell Number |
0824460919 |
|
Current Fax Number |
0215105098 |
|
Current Email Address |
|
|
Web Site Address |
|
|
Comments |
The subject has moved offices and are no longer at address
7 Signal Crescent, Montague gardens 7441 Western Cape, Cape Town. |
|
Company Registered Name |
KPMG INC |
|
Trading Name |
KPMG |
|
Registration Number |
1999/021543/21 |
|
Physical Address |
1 Medeterrian Road, CAPE TOWN, 7441 |
|
Postal Address |
PO BOX 11265, HATFIELD, 0028 |
|
Contact Person |
A DASS |
|
Contact Number |
0214087477 |
|
Email |
|
|
Principals |
191 |
|
Judgements Against Subject |
None On Record |
|
Judgements Against Principals |
None On Record |
|
Subject Verified as Client |
Yes |
|
Practice Number |
04846622 |
|
VAT Number |
4530188665 |
|
Tax Number |
9559555843 |
|
BEE Status |
Unavailable |
|
Financial Year End |
August |
|
No of years in Business |
15 Years |
|
Website |
|
|
Comment |
|
PREVIOUS
AUDITORS
|
Company Name |
Phone Number |
Time with previous auditors |
Comment |
|
ROD MCGILVRAY |
|
Unknown |
|
|
Vat Number |
4520222680 |
|
Status |
ACTIVE |
|
Vat Liable Date |
2005/09/01 |
|
Tax Number |
9341712157 |
|
Tax Clearance Expire Date |
2015/07/01 |
|
Financial Year End |
December |
|
Comment |
|
|
Status |
No |
|
Score |
|
|
Expire Date |
|
|
BEE Certificate Available |
No |
|
Comment |
The subject is not BEE registered |
|
|
|
|
ISO Information - No Information on Record |
|
|
Registered |
Yes |
|
Compliance Certified |
Yes |
|
Comment |
|
Subsidiaries
Information - No Information on Record
Employees
|
Number of Employees |
35 |
|
1. Salaried employees |
35 |
|
2. Waged employees |
0 |
|
3. Permanent employees |
35 |
|
4. Casual employees |
0 |
|
5. Contracted employees |
0 |
|
Comment |
|
Company Fleet Information – No Information on Record
OFFICES
|
Offices |
Offices |
|
Head Office Owned/ Rented |
Leased |
|
Rental Company |
CCS LOGISTICS (PTY)LTD |
|
Owned by |
|
|
Value |
|
|
Bond |
|
|
Bank |
|
|
Lease Agreement |
3 Years |
|
Lease Expire Date |
2017-06-01 |
|
Type of Premises |
Office and warehouse |
|
Comment |
|
Branch information – No Information on Record
Organisation chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
Director |
BENJAMIN
WARD |
|
|
|
|||
|
1 |
Director |
RETO
SUTER |
|
|
|
|||
|
1 |
Director |
DEAN
WARREN STACEY |
|
COMPANY STRUCTURE (OWNERSHIP)
Note: One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
100% -LONRHO
HOLDINGS (PTY)LTD |
FISH
ON LINE (PTY)LTD |
-- |
-- |
Key Deals - No Information on Record
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial
Bonds |
Comment |
|
|
1 |
OCEAN
FRESH SEA |
0114532024 |
|
|
|
|
|
2 |
SUPPER
PACKERS |
0215774777 |
|
|
The supplier
declined to provide a trade reference. |
|
|
3 |
LANDRO
LOGISTICS |
0115710800 |
|
|
The supplier is a sister
company of the subject. The
supplier could not provide a trade
reference. |
|
|
4 |
VERCON |
0861337266 |
|
|
|
|
Trade references
Details
|
Nr |
Age of Acc |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
4
Years |
30 Days |
R 2000000 |
30
Days |
This is an
excellent account. The subject has an open account with thee supplier. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4 |
5
Years |
21 Days |
R
50000 - 70000 |
21
Days |
This is an
excellent 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 |
FIRST NATIONAL BANK |
|
Branch |
CORPORATE DURBAN |
|
Brach Code |
250655 |
|
Bank Account Number |
62088300232 |
|
Type of Account |
CHEQUE ACCOUNT |
|
Account Name |
FISH ON LINE (PTY) LTD |
|
Overdraft Facilities |
YES |
|
Bank Code |
C - For - R 50 000 |
|
Bank Comment |
The subject's bankers consider them good for all normal
business engagements |
Bank Codes History
|
Date requested |
Bank
Code |
Enquiry
Amount |
Number of RD's |
RD amount |
RD Date |
Bank Comments |
Years with bank |
|
2012/03/22 |
C |
R100000.00 |
0 |
|
|
The subjects
bankers consider them equal to R100 000 over 30 days in the normal way
of business. |
|
Previous Bank Account Information - No information on
record
Deeds Information - No information
on record
|
Number of Principals |
8 |
|
Average Age of Active Principals |
46 |
|
Active Principals
Active Principal - 1 of 8 BENJAMIN WARD |
|
|
Surname |
WARD |
|
First Name |
BENJAMIN |
|
Other Names |
None |
|
Marital Status |
Single |
|
ID Number |
7201275381082 |
|
Verified ID Number |
|
|
Current Age |
42 Years 8 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
2013/12/18 |
|
Physical Address (at time of Appointment) |
459 DE ZALZE, STELLENBOSCH, 7600 |
|
Postal Address |
459 DE ZALZE, STELLENBOSCH, 7600 |
|
Current Tel Number |
0215105638 |
|
Cell number |
|
|
Shareholding/Membership |
0.00 |
Principals Adverse – No Information on record
Business
Information for BENJAMIN WARD
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 8
RETO SUTER
|
Surname |
SUTER |
|
First Name |
RETO |
|
Other Names |
None |
|
Marital Status |
|
|
ID Number |
F1806749 |
|
Verified ID Number |
Yes |
|
Current Age |
42 Years 11 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
2013/11/18 |
|
Physical Address (at time of Appointment) |
IN DER DEISTEN 11, 8125 ZOLLIKERBERG, SWITZERLAND, 8125 |
|
Postal Address |
|
|
Current Tel Number |
0215105638 |
|
Cell number |
|
|
Shareholding/Membership |
0.00 |
Principals Adverse – No Information on record
Business
Information for RETO SUTER
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 8
DAVID ARMSTRONG
|
Surname |
ARMSTRONG |
|
First Name |
DAVID |
|
Other Names |
JAMES |
|
Marital Status |
|
|
ID Number |
6412120000000 |
|
Verified ID Number |
No |
|
Current Age |
48 |
|
Designation |
DIRECTOR |
|
Status |
Resigned |
|
Appointment Date |
2011/07/01 |
|
Physical Address (at time of Appointment) |
MALT HOUSE, OAKHAM ROAD, NORTH EAST HORSLEY, LEATHERHEAD
KTZ 469 X UK, 0000 |
|
Postal Address |
P O BOX 10906, JOHANNESBURG, 2000 |
|
Current Tel Number |
|
|
Cell number |
|
|
Shareholding/Membership |
0.0000 |
Principals Adverse – No Information on record
Business
Information for DAVID ARMSTRONG
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 - 4
of 8
DAVID LENIGAS
|
Surname |
LENIGAS |
|
First Name |
DAVID |
|
Other Names |
ANTHONY |
|
Marital Status |
|
|
ID Number |
E3060892 |
|
Verified ID Number |
No |
|
Current Age |
51 |
|
Designation |
DIRECTOR |
|
Status |
Resigned |
|
Appointment Date |
2011/07/01 |
|
Physical Address (at time of Appointment) |
4 AVENUE DES, GUELFES, 0000 |
|
Postal Address |
25 BERKLEY SQUARE, WIJ6HB, WIJ6HB, LONDON, 0000 |
|
Current Tel Number |
|
|
Cell number |
|
|
Shareholding/Membership |
0.0000 |
Principals Adverse – No Information on record
Business
Information for DAVID LENIGAS
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 - 5
of 8
GEOFFREY WHITE
|
Surname |
WHITE |
|
First Name |
GEOFFREY |
|
Other Names |
TREVOR |
|
Marital Status |
|
|
ID Number |
6101050000000 |
|
Verified ID Number |
No |
|
Current Age |
51 |
|
Designation |
DIRECTOR |
|
Status |
Resigned |
|
Appointment Date |
2011/07/01 |
|
Physical Address (at time of Appointment) |
76 ABOVE TOWN DARTMOUTH, DEVAN TQ RQ, UK, 0000 |
|
Postal Address |
P O BOX 10909,JOHANNESBURG, 2000 |
|
Current Tel Number |
|
|
Cell number |
|
|
Shareholding/Membership |
0.0000 |
Principals Adverse – No Information on record
Business
Information for GEOFFREY WHITE
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 - 6
of 8
EMMA PRIESTLEY
|
Surname |
PRIESTLEY |
|
First Name |
EMMA |
|
Other Names |
KINDER |
|
Marital Status |
|
|
ID Number |
7211290000000 |
|
Verified ID Number |
No |
|
Current Age |
40 |
|
Designation |
DIRECTOR |
|
Status |
Resigned |
|
Appointment Date |
2011/07/01 |
|
Physical Address (at time of Appointment) |
THE COTTAGE, SHIRLEY, ASHBOURNE, DE6 3AS, 0000 |
|
Postal Address |
25 BERKLEY SQUARE, WIJ6HB, LONDON, 0000 |
|
Current Tel Number |
|
|
Cell number |
|
|
Shareholding/Membership |
0.0000 |
Principals Adverse – No Information on record
Business
Information for GEOFF EMMA PRIESTLEY
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 - 7
of 8
DEAN STACEY
|
Surname |
STACEY |
|
First Name |
DEAN |
|
Other Names |
WARREN |
|
Marital Status |
Married |
|
ID Number |
7201145151087 |
|
Verified ID Number |
Yes |
|
Current Age |
40 |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
2010/09/07 |
|
Physical Address (at time of Appointment) |
18 TESTER STREET, VIERLANDEN, DURBANVILLE, CAPE TOWN, 7550 |
|
Postal Address |
P O BOX 51908, V & A WATERFRONT, CAPE TOWN, 8002 |
|
Current Tel Number |
0214250124 |
|
Cell number |
0824460919 |
|
Shareholding/Membership |
0.0000 |
Principals Adverse – No Information on record
Business
Information for DEAN STACEY
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 - 8
of 8
JACOBUS MALAN
|
Surname |
MALAN |
|
First Name |
JACOBUS |
|
Other Names |
None |
|
Marital Status |
Divorced |
|
ID Number |
6604305045083 |
|
Verified ID Number |
Yes |
|
Current Age |
46 |
|
Designation |
|
|
Status |
Resigned |
|
Appointment Date |
2005/06/17 |
|
Physical Address (at time of Appointment) |
45 SKAAMROSIE STREET, PROTEA VALLEY, BELLVILLE, 7551 |
|
Postal Address |
P O BOX 51908, WATERFRONT, CAPE TOWN, 8002 |
|
Current Tel Number |
0215510452 |
|
Cell number |
0834689999 |
|
Shareholding/Membership |
0.0000 |
Principals Adverse – No Information on record
Business
Information for JACOBUS MALAN
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 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.60 |
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.