|
Report Date : |
20.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
STEELMOR INDUSTRIES (PTY) LTD |
|
|
|
|
Registered Office : |
CNR Apex
& Rotterdam Roads, Apex Industrial Sites, Benoni, 1501 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
13.07.1994 |
|
|
|
|
Com. Reg. No.: |
M1994/005100/07 |
|
|
|
|
Legal Form : |
Private company |
|
|
|
|
Line of Business : |
The subject
operates as a leader in the steel, manufacturing and distribution industries |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
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 |
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 |
STEELMOR
INDUSTRIES (PTY)LTD |
|
Country |
South
Africa |
|
Subject
Contact Person |
CHRIS
HARRIS - Financial Manager |
|
Assessment |
On
investigation contact was made with CHRIS HARRIS the financial manager who declined
to assist with the information. The subject requested the name of the
principal enquirer before any information is divulged. Please see the
available information on the subject below. |
|
Registered
Name |
STEELMOR
INDUSTRIES (PTY)LTD |
|
Trading
as/ Division Name |
SMI
STEELMOR |
|
Previous
Name |
Unavailable |
|
Date
of Name Change |
Unavailable |
|
Registration
Number |
M1994/005100/07 |
|
Registration
Date |
1994/07/13 |
|
Date
Commenced Trading |
1994-07-13 |
|
Age
of Business |
20
Years 3 Months |
|
History
of Business |
The
subject was established as a new company in 1994 and has been trading for 20
years and 3 months. |
|
History
of Principals |
There
are 2 active directors within the company. |
|
Shareholders/Members/Partners
of subject and % holding |
Declined |
|
Authorised
Share Capital |
|
|
Issued
Share Capital/Members Contribution |
|
|
Status |
In
Business |
|
Operations
Assessment |
The
subject operates as a leader in the steel, manufacturing and distribution
industries. |
|
Industry/
Customers |
The
subject supply's to the steel industry |
|
Export |
Yes |
|
Export
Countries |
|
|
Import |
None |
|
Import
Countries |
|
|
Major
Industry Code / SICC |
35101 |
|
Definition
of Code |
Basic
iron and steel industries, except steel pipe and tube mills |
|
Head
Office Physical Address |
CNR APEX &
ROTTERDAM ROADS, APEX INDUSTRIAL SITES, BENONI, 1501 |
|
Head
Office Postal Address |
PO
BOX 492, BENONI, 1500 |
|
Current
Tel Number |
0117475700 |
|
Cell
Number |
|
|
Current
Fax Number |
0114222221 |
|
Current
Email Address |
|
|
Web
Site Address |
|
|
Comments |
|
|
Company Registered
Name |
J.D. HILL &
COMPANY |
|
Trading Name |
JD HILL AND CO |
|
Registration Number |
Declined |
|
Physical Address |
196 ELSTON AVENUE,
BENONI, 1501 |
|
Postal Address |
PO BOX 492, BENONI,
1500 |
|
Contact Person |
LORAINE |
|
Contact Number |
0114217146 |
|
Email |
|
|
Principals |
1 |
|
Judgements Against
Subject |
Unavailable |
|
Judgements Against
Principals |
Unavailable |
|
Subject Verified as
Client |
Yes |
|
Practice Number |
921769 |
|
VAT Number |
4700198288 |
|
Tax Number |
Unavailable |
|
BEE Status |
Level 1 |
|
Financial Year End |
Unavailable |
|
No of years in
Business |
6 Years 4 Months |
|
Website |
|
|
Comment |
|
Previous
Auditors Information - No Information on Record
|
Vat
Number |
4860203514 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
2003/02/01 |
|
Tax
Number |
9051570167 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
February |
|
Comment |
|
|
|
|
|
Black Economic
Empowerment Information - No Information on Record |
|
|
ISO Status |
|
|
Type
of ISO Grade |
9001-2008 |
|
ISO
Certificate |
Yes |
|
ISO
Certificate Available |
No |
|
Certified
by an Accredited Agent |
Yes |
|
Comment |
|
Work Mans
Information - No Information on Record
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
Organisation
Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
Director |
SEAN GEORGE KAY CLOUGH |
|
|
|
|||
|
1 |
Director |
STEVEN PATRICK KAY
CLOUGH |
|
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
Judgements
- No information on record
BusinessRescue
- 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
Property
Interests for Company STEELMOR INDUSTRIES (PTY)LTD
|
Title Deed No. |
T37921/1999 |
Erf/Site No. |
0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
0033-1850-000 |
|
Property Type |
Freehold |
Extent / Size |
|
|
Purchase Date |
1999/03/26 |
Purchase price |
R 2800000.00 |
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
R 0.00 |
|
Comment |
|
||
|
|
|||
|
Title Deed No. |
T65345/1999 |
Erf/Site No. |
0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
0174-0100-000
GROOT BRAKRIVIER |
|
Property Type |
Farms |
Extent / Size |
|
|
Purchase Date |
1999/06/21 |
Purchase price |
R 390000.00 |
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
R 0.00 |
|
Comment |
|
||
|
|
|||
|
Title Deed No. |
T71532/2000 |
Erf/Site No. |
188 |
|
Deeds Office |
JOHANNESBURG |
Physical Address |
3 MILAN 2260-0050-000 BENONI |
|
Property Type |
Freehold |
Extent / Size |
|
|
Purchase Date |
2000/08/24 |
Purchase price |
R 700000.00 |
|
% Ownership |
0.00 |
Bond Holder |
STANDARD
BANK OF SOUTH AFRICA L |
|
Bond Number |
B551532000 |
Bond Amount |
R 490000.00 |
|
Comment |
|
||
|
Number
of Principals |
2 |
|
Average
Age of Active Principals |
46 |
|
Active Principals Active Principal - 1 of 2 SEAN KAY-CLOUGH |
|
|
Surname |
KAY-CLOUGH |
|
First
Name |
SEAN |
|
Other
Names |
GEORGE |
|
Marital
Status |
Married |
|
ID
Number |
6512145245088 |
|
Verified
ID Number |
Yes |
|
Current
Age |
48
Years 10 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2008/02/03 |
|
Physical
Address (at time of Appointment) |
11
VAN DER STEL STREET, ALPHEN PARK, BENONI, 1501 |
|
Postal
Address |
P.O.
BOX 792, BRAKPAN, 1540 |
|
Current
Tel Number |
0117475760 |
|
Cell
number |
0836302693 |
|
Shareholding/Membership |
0.00 |
Business Information for SEAN KAY-CLOUGH
Principal Current Business Interests
|
Company
Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
SMI
FORGED FLANGES (PTY)LTD |
M1997/012151/07 |
Deregistration
Final |
17
Years 5 Months |
0 |
No |
|
|
SMI
METAL PRODUCTS (PTY)LTD |
M1998/009485/07 |
Deregistration
Final |
16
Years 4 Months |
0 |
No |
|
|
SMI STAINLESS FITTINGS (PTY)LTD |
M1999/021071/07 |
Deregistration
Final |
15
Years 3 Months |
0 |
No |
|
|
STEELMOR INDUSTRIES (PTY)LTD |
M1994/005100/07 |
In
Business |
20
Years 8 Months |
0 |
No |
|
|
STEELMOR
STAINLESS ENTERPRISES (PTY)LTD |
M2003/000182/07 |
In
Business |
11
Years 11 Months |
0 |
No |
|
Principal Previous Business Interests
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
KAY-CLOUGH
INVESTMENTS (PTY)LTD |
M1994/005427/07 |
In Business |
20 Years 8 Months |
0 |
No |
|
Principal
Deeds Information Property Interests for SEAN KAY-CLOUGH
|
Title
Deed No. |
T17553/1997 |
Erf/Site
No. |
6662 |
|
Deeds
Office |
JOHANNESBURG |
Physical
Address |
11
VAN DER STEL BENONI |
|
Property
Type |
F |
Extent
/ Size |
1532.00000000 |
|
Purchase
Date |
1996/12/18 |
Purchase
price |
R
340.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
STANDARD
BANK OF SOUTH AFRICA LTD |
|
Bond
Number |
B175451997 |
Bond
Amount |
R
306.00 |
|
Comment |
|
||
Property
Interests for SEAN KAY-CLOUGH
|
Title
Deed No. |
T34338/2009 |
Erf/Site
No. |
3756 |
|
Deeds
Office |
JOHANNESBURG |
Physical
Address |
38
EBOTSE EBOTSE GOLF & COUNTRY ESTATE BENONI |
|
Property
Type |
E |
Extent
/ Size |
|
|
Purchase
Date |
2009/10/07 |
Purchase
price |
R1000000.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
|
|
Bond
Number |
|
Bond
Amount |
R
0.00 |
|
Comment |
|
||
Active
Principal - 2 of 2 STEVEN KAY-CLOUGH
|
Surname |
KAY-CLOUGH |
|
First
Name |
STEVEN |
|
Other
Names |
PATRIC |
|
Marital
Status |
Married |
|
ID
Number |
7011155257082 |
|
Verified
ID Number |
Yes |
|
Current
Age |
43
Years 11 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2004/10/18 |
|
Physical
Address (at time of Appointment) |
2
OLIENHOUT, NORTHVILLE, BENONI, 1501 |
|
Postal
Address |
P.O.
BOX 792, BRAKPAN, 1540 |
|
Current
Tel Number |
0117475700 |
|
Cell
number |
|
|
Shareholding/Membership |
0.00 |
Business Information for STEVEN KAY-CLOUGH
Principal Current Business Interests
|
Company
Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
KAY-CLOUGH
INVESTMENTS (PTY)LTD |
M1994/005427/07 |
In
Business |
20 Years 8 Months |
0 |
No |
|
|
SMI
FORGED FLANGES (PTY)LTD |
M1997/012151/07 |
Deregistration
Final |
17 Years 5 Months |
0 |
No |
|
|
SMI
METAL PRODUCTS (PTY)LTD |
M1998/009485/07 |
Deregistration
Final |
16 Years 4 Months |
0 |
No |
|
|
SMI STAINLESS FITTINGS (PTY)LTD |
M1999/021071/07 |
Deregistration
Final |
15 Years 3 Months |
0 |
No |
|
|
STEELMOR INDUSTRIES (PTY)LTD |
M1994/005100/07 |
In
Business |
20 Years 8 Months |
0 |
No |
|
Principal
Previous Business Interests
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
|
|
|
|
|
|
|
Principal
Deeds Information Property Interests for
STEVEN
KAY-CLOUGH
|
Title
Deed No. |
T37027/2014 |
Erf/Site
No. |
489 |
|
Deeds
Office |
JOHANNESBURG |
Physical
Address |
BRENTWOOD
EXT 8 |
|
Property
Type |
E |
Extent
/ Size |
1576.0SQM |
|
Purchase
Date |
2014/06/04 |
Purchase
price |
R
4450000.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
|
|
Bond
Number |
|
Bond
Amount |
R
0.00 |
|
Comment |
|
||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.61 |
|
|
1 |
Rs.99.11 |
|
Euro |
1 |
Rs.78.89 |
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.