MIRA INFORM REPORT

Report Date :

02.09.2014

IDENTIFICATION DETAILS

Name :	PALM COMMODITY DISTRIBUTORS CC

Formerly Known As :	BLUE DOT PROPERTIES

Registered Office :	32 Church Lane, Pinetown, 3610, Postnet Suite 142, Private Bag 817, New Germany, 3620

Country :	South Africa

Date of Incorporation :	14.03.2000

Com. Reg. No.:	B2000/011811/23

Legal Form :	Private Company

Line of Business :	Manufacture of flour, grain mill products incl. rice & vegetable milling

No of Employees :	9

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 01, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

South Africa

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2
Very High Risk	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	PALM COMMODITY DISTRIBUTORS CC
Country	South Africa
Subject Contact Person	KEVIN - General Manager
Assessment	On investigation contact was made with KEVIN the general manager of the business who assisted with the required information. The subject is meeting commitments timeously with it's suppliers. We obtained a bank code C for R 20 000 over a period of 30 days. Please see the available information on the subject below.

AUDITORS INFORMATION

Company Registered Name		ILONA EBBELIGN
Trading Name		ILONA EBBELIGN
Registration Number		None
Physical Address		Unavailable
Postal Address		Unavailable
Contact Person		ILONA
Contact Number		0824397528
Email		ebbecon@telkomsa.net
Principals
Judgements Against Subject		Unavailable
Judgements Against Principals		Unavailable
Subject Verified as Client		Yes
Practice Number		00161
VAT Number		Unavailable
Tax Number		Unavailable
BEE Status		Unavailable
Financial Year End		Unavailable
No of years in Business		Unavailable
Website		Unavailable
Comment
Previous Auditors
Company Name	Phone Number		Time with previous auditors	Comment
KEVIN JAMES JONES

TAX INFORMATION

Vat Number	4550189890
Status	ACTIVE
Vat Liable Date
Tax Number	9462024143
Tax Clearance Expire Date
Financial Year End	June
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	9
1. Salaried employees	9
2. Waged employees	0
3. Permanent employees	9
4. Casual employees	0
5. Contracted employees	0
Comment
Company Fleet
Company Fleet	No of vehicles:	Ownerd/Leased	Value	Outstanding Balance
Fleet Operations
The Fleet is made up of	4
Comment
Cars	3	Owned
Light delivery Vehicles	1	Leased

Offices

Offices	Offices
Head Office Owned/ Rented	Owned
Rental Company	N/A
Owned by	WENDY ANNE JONES
Value	R 800000.00
Bond
Bank	N/A
Lease Agreement	N/A
Lease Expire Date	N/A
Type of Premises	Office house
Comment

Branch Information - No Information on Record

Management Overview

Organisation Chart

Level	Position	Name	Comment
1	Owner	WENDY ANNE JONES

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
100 % - WENDY ANNE JONES	PALM COMMODITY DISTRIBUTORS CC	None

Key Deals - No Information on Record

_{Trade References}

Trade Reference nr	Supplier	Contact	Surety Value	Notarial Bonds	Comment
1	FR WARING	0315363200			The supplier declined to provide a trade reference.
2	LUCERNE TRANSPORT	0118877700
3	OLAM	0315665499
4	PERFORMANCE OFFICE	0313124116

Trade References Detail

Nr	Age of Acc	Credit Limit	Max Credit	Terms	Average Purchases	Terms Taken	Comment
1
2	1 Year		R120000	30 Days	R 100000 -120000	30 Days	This is a good account. The subject as an open account with the supplier.
3	2 Years	R 2000000.00	R 2000000	30 Days	R 2000000	30 Days	This is a good account.
4	4 Years	R 5000.00	R 500	30 Days	R 200 - 500	30 Days	This is an excellent account.

Adverse Information on Subject

Judgements - No information on record

BusinessRescue - No Information on Record

Default Listing - No information on record

Notarial Bonds - No information on record

Bank information

Bank	NEDBANK
Branch	KZN BUSINESS
Brach Code	198765
Bank Account Number	1648159753
Type of Account	CURRENT
Account Name	PALM COMMODITY DISTRIBUTORS CC
Overdraft Facilities	NONE
Bank Code	C - FOR R 20 000
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 Record

Deeds Information - No information on record

FINANCIAL INFORMATION

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	R 35000000.00
Estimated Current Year Turnover	R 35000000.00
Current Turnover per month	R 4000000.00
Current Turnover per annum	R 48000000.00
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

Principals

Number of Principals	1
Average Age of Active Principals	54
Active Principals Principal - 1 of 1 WENDY JONES
Surname	JONES
First Name	WENDY
Other Names	None
Marital Status
ID Number	6002030064083
Verified ID Number	Yes
Current Age	54 Years 6 Months
Designation	Member
Status	Active
Appointment Date	2000/12/01
Physical Address (at time of Appointment)	7 COBBLESET LANE, PINETOWN, 3610
Postal Address	SUITE 142, POSTNET BOX 817, NEW GERMANY, 3620
Current Tel Number	0317013801
Cell number	0828742646
Shareholding/Membership	100 %

Principal's Adverse - No information on record

Business Information for WENDY JONES

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
BLANCOAT CC	B2001/059598/23	In Business	13 Years 1 Months	0	No
PALM COMMODITY DISTRIBUTORS CC	B2000/011811/23	In Business	14 Years 2 Months	0	No
S A PALM OIL CC	B2000/020721/23	In Business	14 Years 2 Months	0	No
THEMBELA TRAINING AND CONSULTING CC	B2007/103187/23	Deregistration Final	7 Years 7 Months	0	No

Principal Previous Business Interests

Average Age of Previous Business 10 Years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
SIQAMBA MEDICAL (PTY)LTD	M2004/016421/07	In Business	10 Years 10 Months	0	No

Principal Deeds Information

Property Interests for WENDY JONES

Title Deed No.	ST19588/2008	Erf/Site No.	2292,0
Deeds Office	PIETERMARITZBURG	Physical Address	32 CHURCH NEW GERMANY PINETOWN
Property Type	U	Extent / Size
Purchase Date	2008/02/17	Purchase price	R 695000.00
% Ownership	0.00	Bond Holder	NEDBANK LTD
Bond Number	SB170222008	Bond Amount	R 695000.00
Comment

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.47
UK Pound	1	Rs.100.43
Euro	1	Rs.79.40

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	SMN

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	PALM COMMODITY DISTRIBUTORS CC
Trading as/ Division Name	PALM COMMODITY DISTRIBUTORS
Previous Name	BLUE DOT PROPERTIES
Date of Name Change	2004-02-09
Registration Number	B2000/011811/23
Registration Date	2000/03/14
Date Commenced Trading	2000-03-14
Age of Business	14 Years 5 Months
History of Business	The subject commenced trading as a new business in 2000. It underwent a name change from BLUE DOT PROPERTIES to the current in 2004.
History of Principals	There is 1 active member within the business
Shareholders/Members/Partners of subject and % holding	100 % - WENDY ANNE JONES
Authorised Share Capital	R 0.00
Issued Share Capital/Members Contribution	R 0.00
Status	In Business
Operations Assessment	The subject supply's vegetable oil, maize grit in bulk and packaging of products.
Industry/ Customers	The subject supply's to the snack industry and wholesalers.
Export	Yes
Export Countries
Import	Yes
Import Countries
Major Industry Code / SICC	30311
Definition of Code	Manufacture of flour, grain mill products incl. rice & vegetable milling
Head Office Physical Address	32 CHURCH LANE, PINETOWN, 3610
Head Office Postal Address	POSTNET SUITE 142, PRIVATE BAG 817, NEW GERMANY, 3620
Current Tel Number	0317013801
Cell Number	0828745646
Current Fax Number	0317023804
Current Email Address	kevin@palmcom.co.za
Web Site Address	www.palmcom.co.za
Comments