|
Report Date : |
08.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
TIAGO TRADING (PTY) LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
13.02.1997 |
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Com. Reg. No.: |
M1997/001999/07 |
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Legal Form : |
Private company |
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Line of Business : |
The subjects main operation
is to manufacture and distribute footwear and clothing |
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No. of Employees : |
15 |
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
South Africa |
A2 |
A2 |
|
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 |
TIAGO
TRADING (PTY) LTD |
|
Country |
South
Africa |
|
Account
Review |
Recommended
Every 6 Months |
|
Subject
Contact Person |
CINDY
PILLAY - Financial Manager |
|
Assessment |
This is an
established business. On investigation contact was made with CINDY PILLAY the
financial manager who declined all financials. We could not obtain a bank
code due to the bank account number being declined. The subject is meeting
commitments timeously with suppliers. Please see the available information on
the subject below. |
|
Registered
Name |
TIAGO
TRADING (PTY)LTD |
|
Trading
as/ Division Name |
TIAGO
TRADING |
|
Previous
Name |
None |
|
Date of
Name Change |
None |
|
Registration
Number |
M1997/001999/07 |
|
Registration
Date |
1997/02/13 |
|
Date
Commenced Trading |
1997-02-13 |
|
Age of
Business |
15 Years 6
Months |
|
History of
Business |
Since 1997, Tiago has designed, developed and marketed
both women and men's casual / formal footwear and fashion. Essentially, they
build and maintain luxury lifestyle brands. It trades in style and the
currency is class. Tiago has two main divisions. The International brand
division holds the licenses for Pringle and Ferradini and the local division
manages their in house brand, Estiago. The local division also provides
sourcing services to major South African chain stores. |
|
History of
Principals |
There are
2 directors within the subject. |
|
Shareholders/Members/Partners
of subject and % holding |
70 % -
OFER ARDENBAUM, 30 % - WAYNE MATTHYSEN |
|
Authorised
Share Capital |
R1000.00 |
|
Issued
Share Capital/Members Contribution |
R 100.00 |
|
Status |
In
Business |
|
Operations
Assessment |
The subjects
main operation is to manufacture and distribute footwear and clothing |
|
Industry/
Customers |
The
subject supplies to retailers nationally |
|
Export |
None |
|
Export
Countries |
|
|
Import |
None |
|
Import
Countries |
|
|
Major Industry
Code / SICC |
61310 |
|
Definition
of Code |
Wholesale
trade in textiles, clothing and footwear |
|
Head
Office Physical Address |
1149
UMGENI ROAD, DURBAN, 4001 |
|
Head
Office Postal Address |
P O BOX
74278, ROCHDALE PARK, 4034 |
|
Current Tel
Number |
0313031607 |
|
Cell
Number |
None |
|
Current
Fax Number |
0313031649 |
|
Current
Email Address |
|
|
Web Site
Address |
|
|
Comments |
|
|
Company Registered Name |
VICTOR FERNANDES & CO |
|
Trading Name |
None |
|
Registration Number |
5011295085106 |
|
Physical Address |
63 St Andrews Drive, Durban North, 4051 |
|
Postal Address |
PO BOX 821, KLOOF, 3640 |
|
Contact Person |
VICTOR FERNANDES |
|
Contact Number |
0317641396 |
|
Email |
|
|
Principals |
1 |
|
Judgements Against Subject |
None On Record |
|
Judgements Against Principals |
None On Record |
|
Subject Verified as Client |
Yes |
|
Practice Number |
951366 |
|
VAT Number |
4450140928 |
|
Tax Number |
Unavailable |
|
BEE Status |
Unavailable |
|
Financial Year End |
February |
|
No of years in Business |
14 |
|
Website |
Unavailable |
|
Comment |
|
Previous Auditors
|
Company
Name |
Phone Number |
Time with
previous auditors |
Comment |
|
M S G M
MASUKU JEENA (KWAZULU-NATAL) INCORPORATED |
|
14 |
|
|
Vat Number |
4120168267 |
|
Status |
ACTIVE |
|
Vat Liable
Date |
1997/09/01 |
|
Tax Number |
9262181200 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
November |
|
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 |
|
Subsidiaries
Information - No Information on Record
|
Employees |
|
|
Number of
Employees |
15 |
|
1.
Salaried employees |
|
|
2. Waged
employees |
15 |
|
3.
Permanent employees |
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|
4. Casual
employees |
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5.
Contracted employees |
15 |
|
Comment |
|
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 |
OFER
ARDENBAUM |
|
|
|
|||
|
1 |
Director |
WAYNE
MATTHYSEN |
|
Company
Structure (Ownership)
Note: One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
70 % OFER ARDENBAUM |
TIAGO
TRADING (PTY) LTD |
None |
|
|
30 % - WAYNE MATTHYSEN |
TIAGO
TRADING (PTY) LTD |
None |
|
Key Deals - No Information on Record
|
Trade
Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
|
1 |
RTT STYLE |
0861477278 |
|
|
The subject declined to assist with a trade reference due to
company policy |
|
2 |
FIRST
FREIGHT COURIERS |
0315691451 |
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|
|
|
3 |
DHL |
0119213757 |
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|
The subject declined to assist
with a trade reference |
|
4 |
TNT
EXPRESS |
0312636338 |
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|
The subject declined to assist
with a trade reference |
|
5 |
CHURCH
HILL INTERNATIONAL |
0800003465 |
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|
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|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
|
|
|
|
|
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|
2 |
4 Years |
|
R 75000 |
30 Days |
R 50000 |
30 Days |
This is a good account. The
subject has an open account with the supplier |
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|
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|
|
|
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|
|
|
|
|
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|
5 |
10 Years |
R120000.00 |
R 50000 |
30 Days |
R 20000 |
30 Days |
This is a
good account |
Judgements - No information on record
BusinessRescue - No Information on Record
Default Listing - No information on record
Notarial Bonds - No information on record
|
Bank |
FIRST
NATIONAL BANK |
|
Branch |
OVERPORT |
|
Brach Code |
250655 |
|
Bank
Account Number |
Unavailable |
|
Type of
Account |
CURRENT |
|
Account
Name |
TIAGO
TRADING (PTY)LTD |
|
Overdraft
Facilities |
Yes |
|
Bank Code |
Unavailable |
|
Bank
Comment |
Unavailable |
Bank Code History - No Information on Record
Previous Bank Account Information - No Information on Record
Deeds Information - No information on record
|
Number of
Principals |
3 |
|
Average Age
of Active Principals |
51 |
|
Number of
Inactive Principals |
|
|
Active Principals Active Principal - 1 of 2 OFER ARDENBAUM |
|
|
Surname |
ARDENBAUM |
|
First Name |
OFER |
|
Other
Names |
|
|
Marital
Status |
Married |
|
ID Number |
6110205733182 |
|
Verified
ID Number |
No |
|
Current
Age |
51 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment
Date |
1997/12/04 |
|
Physical
Address (at time of Appointment) |
8 KILDARE
ROAD, GLENWOOD, DURBAN, 4001 |
|
Postal
Address |
P O BOX
74278, ROCHDALE, 4001 |
|
Current
Tel Number |
0313031607 |
|
Cell
number |
0828213327 |
|
Shareholding/Membership |
0.0000 |
Business Information for OFER ARDENBAUM 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 2 WAYNE MATTHYSEN
|
Surname |
MATTHYSEN |
|
First Name |
WAYNE |
|
Other
Names |
|
|
Marital
Status |
Married |
|
ID Number |
6111115144080 |
|
Verified
ID Number |
Yes |
|
Current
Age |
51 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment
Date |
1997/12/04 |
|
Physical
Address (at time of Appointment) |
1 HAYLE
AVENUE, BEREA, 4001 |
|
Postal
Address |
P O BOX
74278, ROCHDALE, 4001 |
|
Current
Tel Number |
0313031607 |
|
Cell
number |
0824501821 |
|
Shareholding/Membership |
0.0000 |
Business Information for OFER ARDENBAUM 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
Previous Principals
|
Full Name |
ID Number |
Status |
Status
Date |
|
|
|
In
Business |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.43 |
|
UK Pound |
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.78.19 |
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.