MIRA INFORM REPORT

Report Date :

03.09.2014

IDENTIFICATION DETAILS

Name :	NUCO DISTRIBUTORS (PTY)LTD

Registered Office :	10 Summer Creek, 7 Pelican Street, Alberton, Gauteng,1453, P O Box 8608, Verwoerdpark, Gauteng, 1453

Country :	South Africa

Date of Incorporation :	07.03.2014

Com. Reg. No.:	K2014/048813/07

Legal Form :	Private Company

Line of Business :	Import and distribute locks, hardware supplies and packaging

No of Employees :	6

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
--	NB	New Business	--

Status :	New Business

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 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	NUCO DISTRIBUTORS (PTY)LTD
Country	South Africa
Subject Contact Person	ANDRE TRUTER - Director
Assessment	On investigation contact was made with ANDRE TRUTER the director who assisted with all the required information. The subject is meeting commitments timeously with their suppliers. We obtained a bank code C for R 300 000 over a period of 30 days. The address provided namely : 34 JOANIQUE ECO PARK ALBERTON, JOHANNESBURG 186 SECOND AVENUE, FLORENTIA will be the new address from which the subject will be operating from. It is currently trading from both, however it is in process of moving all operations over to the new address. Please see the available information on the subject below.

AUDITORS INFORMATION

Company Registered Name	NICOLA WRIGHT
Trading Name	NICOLA WRIGHT
Registration Number	None
Physical Address	Unavailable
Postal Address	PO.BOX 11503,ESTENMANOR,1630
Contact Person	NICOLA
Contact Number	0835564266
Email	granic@mweb.co.za
Principals	1
Judgements Against Subject	None
Judgements Against Principals	None
Subject Verified as Client	Yes
Practice Number	30815
VAT Number	Unavailable
Tax Number	Unavailable
BEE Status	Unavailable
Financial Year End	Unavailable
No of years in Business	Unavailable
Website	Unavailable
Comment

Previous Auditors Information - No Information on Record

TAX INFORMATION

Vat Number	4240265407
Status	ACTIVE
Vat Liable Date
Tax Number	9889660156
Tax Clearance Expire Date
Financial Year End	February
Comment
Black Economic Empowerment
Status	Yes
Score	6.00
Expire Date
BEE Certificate Available	No
Comment

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	6
1. Salaried employees	6
2. Waged employees	0
3. Permanent employees	6
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	2
Comment
Light delivery Vehicles	2	Leased

Offices

Offices	Offices
Head Office Owned/ Rented	Leased
Rental Company	JOANIQUE ECCO PARK
Owned by
Value
Bond
Bank
Lease Agreement	1 Year
Lease Expire Date	2015-07-31
Type of Premises	Factory
Comment

Branch Information - No Information on Record

Management Overview

Organisation Chart

Level	Position	Name	Comment
1	Director	ANDRE TRUTER

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
100% - ANDRE TRUTER	NUCO DISTRIBUTORS (PTY)LTD

Key Deals - No Information on Record

Trade References

Trade Reference nr	Supplier	Contact	Surety Value	Notarial Bonds	Comment
1	LNB WHOLESALERS	0113984300
2	BOLTSIX	0317139800			The supplier declined to provide a trade reference as per company policy.
3	UNITRACKER	0118759939
4	CASHER INTERNATIONAL	0112014600

Trade References Detail

Nr	Age of Acc	Credit Limit	Max Credit	Terms	Average Purchases	Terms Taken	Comment
1	5 Months		R 300000	30 Days	R 300000	30 Days	This is a very good account. The subject as an open account with their suppliers.
2
3	3 Months	R100000.00	R 40000	30 Days	R 20000 - 40000	30 Days	This is an excellent account.
4	5 Months	R 200000.00	R 50000	30 Days	R 50000	30 Days	This is a very good 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	NEDBANK CORPORATE BUSINESS BANK
Brach Code	198765
Bank Account Number	1068746726
Type of Account	CHEQUE
Account Name	NUCO DISTRIBUTORS (PTY)LTD
Overdraft Facilities	NO
Bank Code	C - R300000
Bank Comment	The subject's bankers consider them good for all business normal 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
Estimated Current Year Turnover	R14000000.00
Current Turnover per month	R 2500000.00
Current Turnover per annum
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	50
Active Principals Principal - 1 of 1 ANDRE TRUTER
Surname	TRUTER
First Name	ANDRE
Other Names	None
Marital Status
ID Number	6410085076086
Verified ID Number	Yes
Current Age	49 Years 10 Months
Designation	DIRECTOR
Status	Active
Appointment Date	2014/03/07
Physical Address (at time of Appointment)	10 SUMMER CREEK, 7 PELICAN STREET, VERWOERDPARK, GAUTENG, 1453
Postal Address	P O BOX 8608, VERWOERDPARK, GAUTENG, 1453
Current Tel Number	0137139800
Cell number	0731549805
Shareholding/Membership	100%

Principal's Adverse - No information on record

Business Information for ANDRE TRUTER

Principal Current Business Interests

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

NUCO

DISTRIBUTORS (PTY)LTD

K2014/048813/07

In Business

NULU

MANUFACTURERS (CAPE) (PTY)LTD

M1998/019603/07

In Business

16 Years 4 Months

Principal Previous Business Interests

Average Age of Previous Business 25 Years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
NN MARKETING CC	B1989/021589/23	Deregistration Final	25 Years 1 Months	1	No

Principal Deeds Information

Property Interests for ANDRE TRUTER
Title Deed No.	T71583/1991	Erf/Site No.	8365
Deeds Office	CAPE TOWN	Physical Address	93 HOFF KRAAIFONTEIN
Property Type	F	Extent / Size	496.00000000
Purchase Date	1991/07/18	Purchase price	R 0.00
% Ownership	0.00	Bond Holder	ABSA BANK LTD
Bond Number	B292791994	Bond Amount	R 100.00
Comment
Property Interests for ANDRE TRUTER
Title Deed No.	T71583/1991	Erf/Site No.	8365
Deeds Office	CAPE TOWN	Physical Address	93 HOFF KRAAIFONTEIN
Property Type	F	Extent / Size	496.00000000
Purchase Date	1991/08/14	Purchase price	R 0.00
% Ownership	0.00	Bond Holder	ABSA BANK LTD
Bond Number	B292791994	Bond Amount	R 100.00
Comment
Property Interests for ANDRE TRUTER
Title Deed No.	T84494/1994	Erf/Site No.	34072
Deeds Office	CAPE TOWN	Physical Address	11 HELPMEKAAR BELLVILLE
Property Type	F	Extent / Size	337.00000000
Purchase Date	1994/08/08	Purchase price	R 134.00
% Ownership	0.00	Bond Holder
Bond Number		Bond Amount	R 0.00
Comment
Property Interests for ANDRE TRUTER
Title Deed No.	T46870/2011	Erf/Site No.	2520
Deeds Office	JOHANNESBURG	Physical Address	1 MOUNTJOY VERWOERDPARK ALBERTON
Property Type	E	Extent / Size
Purchase Date	2011/09/29	Purchase price	R1200000.00
% Ownership	0.00	Bond Holder	STANDARD BANK OF SOUTH AFRICA L
Bond Number	B355252011	Bond Amount	R1080000.00
Comment

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.61
UK Pound	1	Rs.100.49
Euro	1	Rs.79.56

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	NUCO DISTRIBUTORS (PTY)LTD
Trading as/ Division Name	NUCO DISTRIBUTORS
Previous Name	None
Date of Name Change	None
Registration Number	K2014/048813/07
Registration Date	2014/03/07
Date Commenced Trading	2014-03-07
Age of Business	5 Months
History of Business	The company has been in operation for the past 5 months.
History of Principals	There is 1 active director and shareholder within the company.
Shareholders/Members/Partners of subject and % holding	100% - ANDRE TRUTER
Authorised Share Capital
Issued Share Capital/Members Contribution
Status	In Business
Operations Assessment	The subjects main operation is to import and distribute locks, hardware supplies and packaging.
Industry/ Customers	The subject supply's to wholesalers.
Export	Yes
Export Countries
Import	Yes
Import Countries	China
Major Industry Code / SICC	88950
Definition of Code	Packaging activities
Head Office Physical Address	10 SUMMER CREEK, 7 PELICAN STREET, ALBERTON, GAUTENG,1453
Head Office Postal Address	P O BOX 8608, VERWOERDPARK, GAUTENG, 1453
Current Tel Number	0102169172
Cell Number	0731549805
Current Fax Number	0862746194
Current Email Address	andre@nucodist.co.za
Web Site Address	None
Comments