|
Report Date : |
15.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
BANTAM DISTRIBUTORS CC |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
25.06.1986 |
|
|
|
|
Com. Reg. No.: |
B1986/011760/23 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacture
of Cutlery, Hand Tools and General Hardware. |
|
|
|
|
No of Employees : |
29 |
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 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 |
BANTAM
DISTRIBUTORS CC |
|
Country |
South
Africa |
|
Subject
Contact Person |
JOHN
BRIDGEFORD MERSON - Financial Director |
|
Assessment |
This
is a well-established business. On investigation contact was made with JOHN
BRIDGEFORD MERSON the financial director. The subject is meeting commitments
timeously with suppliers. We obtained a bank code C for R 200 000 over a
period of 30 days. Please see the available information on the subject below. |
|
Registered
Name |
BANTAM
DISTRIBUTORS CC |
|
Trading
as/ Division Name |
None |
|
Previous
Name |
None |
|
Date
of Name Change |
1980-08-27 |
|
Registration
Number |
B1986/011760/23 |
|
Registration
Date |
1986/06/25 |
|
Date
Commenced Trading |
1986-06-25 |
|
Age
of Business |
28
Years 3 Months |
|
History
of Business |
The
subject commenced trading as new business in 1986. |
|
History
of Principals |
There
are 4 active members within the business. |
|
Shareholders/Members/Partners
of subject and % holding |
25
% - RAYMOND WILLIAM LEONARD, 25 % - GREGORY JOHN STEVENS, 42 % - JOHN
BRIDGEFORD MERSON, 8 % - YVONNE LUCELLE MERSON |
|
Authorised
Share Capital |
R
200.00 |
|
Issued
Share Capital/Members Contribution |
R
200.00 |
|
Status |
In
Business |
|
Operations
Assessment |
The
subject imports and distributes tools |
|
Industry/
Customers |
The
subject supplies to tool and engineering retail outlets |
|
Export |
None |
|
Export
Countries |
Mozambique,Namibia |
|
Import |
Yes |
|
Import
Countries |
|
|
Major
Industry Code / SICC |
35530 |
|
Definition
of Code |
Manufacture
of cutlery, hand tools and general hardware |
|
Head
Office Physical Address |
21
SILVERTONE CRESCENT, KYALAMI BUSINESS PARK, MIDRAND, 1684 |
|
Head
Office Postal Address |
PO
BOX 30763, KYALAMI, 1684 |
|
Current
Tel Number |
0114663231 |
|
Cell
Number |
0727431299 |
|
Current
Fax Number |
0114663237 |
|
Current
Email Address |
|
|
Web
Site Address |
|
|
Comments |
|
|
Company
Registered Name |
WAKELY
SMITH LATUKKA INC |
|
Trading
Name |
NONE |
|
Registration
Number |
2013/128546/21 |
|
Physical
Address |
33
PETER PLACE, LYMEPARK BRYANSTON, 2191 |
|
Postal
Address |
PO
BOX 4026, BRYANSTON, 2191 |
|
Contact
Person |
ANTHONY
HIND |
|
Contact
Number |
0117067032 |
|
Email |
Declined |
|
Principals |
2 |
|
Judgements
Against Subject |
None
On Record |
|
Judgements
Against Principals |
None
On Record |
|
Subject
Verified as Client |
Yes |
|
Practice
Number |
914231 |
|
VAT
Number |
Declined |
|
Tax
Number |
Declined |
|
BEE
Status |
Declined |
|
Financial
Year End |
Declined |
|
No
of years in Business |
22
Years 9 Months |
|
Website |
Declined |
|
Comment |
-- |
Previous Auditors Information - No Information on Record
|
Vat
Number |
4630103044 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
1991/09/30 |
|
Tax
Number |
9187628152 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
June |
|
Comment |
|
|
Status |
Yes |
|
Score |
8.00 |
|
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 |
29 |
|||
|
1.
Salaried employees |
18 |
|||
|
2.
Waged employees |
11 |
|||
|
3.
Permanent employees |
28 |
|||
|
4.
Casual employees |
1 |
|||
|
5.
Contracted employees |
|
|||
|
Comment |
|
|||
|
Company
Fleet |
||||
|
Company
Fleet |
No
of vehicles: |
Owned/Leased |
Value |
Outstanding
Balance |
|
Fleet
Operations |
|
|
|
|
|
The
Fleet is made up of |
15 |
|||
|
Comment |
|
|||
|
Cars |
9 |
Owned |
|
|
|
Light
delivery Vehicles |
3 |
Owned |
|
R101500.00 |
|
Trailers |
2 |
Owned |
|
|
|
Fork
Lifts |
1 |
Owned |
|
|
Offices
|
Offices |
Offices |
|
|
Head
Office Owned/ Rented |
Leased |
|
|
Rental
Company |
CULLODEN
PROPERTIES (PTY) LTD |
|
|
Owned
by |
|
|
|
Value |
R
4800000.00 |
|
|
Bond |
R
0.00 |
|
|
Bank |
FNB |
|
|
Lease
Agreement |
|
|
|
Lease
Expire Date |
|
|
|
Type
of Premises |
Warehouse
with Office Blocks |
|
|
Comment |
|
|
|
Branch
Information |
||
|
Branches Names |
Country |
Province |
|
BANTAM
DISTRIBUTERS CC |
South Africa |
KWAZULU NATAL |
|
BANTAM
DISTRIBUTORS CC |
South Africa |
WESTERN CAPE |
|
Branch
Detail Information |
||
|
Branches
Owned/ Rented |
Leased |
|
|
Rental
Company |
MERSON
FAMILY TRUST |
|
|
Owned
by |
|
|
|
Value |
R
900000.00 |
|
|
Bond |
R
0.00 |
|
|
Bank |
FNB |
|
|
Lease
Agreement |
-- |
|
|
Lease
Expire Date |
-- |
|
|
Type
of Premises |
Warehouse
with Office Blocks |
|
|
Comment |
-- |
|
|
|
||
|
Branches
Owned/ Rented |
Leased |
|
|
Rental
Company |
CULLODEN
PROPERTIES (PTY) LTD |
|
|
Owned
by |
|
|
|
Value |
R
2200000.00 |
|
|
Bond |
R
0.00 |
|
|
Bank |
FNB |
|
|
Lease
Agreement |
-- |
|
|
Lease
Expire Date |
-- |
|
|
Type
of Premises |
Warehouse
with office blocks |
|
|
Comment |
-- |
|
Organisation
Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
MEMBER |
GREGORY JOHN
STEVENS |
|
|
|
|||
|
1 |
MEMBER |
YVONNE LUCELLE
MERSON |
|
|
|
|||
|
1 |
MEMBER |
RAYMOND WILLIAM
LEORNARD |
|
|
|
|
|
|
|
1 |
MEMBER |
JOHN BRIDGEFORD
MERSON |
|
Company
Structure (Ownership)
Note:
One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
42% - JOHN BRIDGEFORD MERSON |
BANTAM
DISTRIBUTORS CC |
NONE |
|
|
25% - GREGORY JOHN STEVENS |
BANTAM
DISTRIBUTORS CC |
NONE |
|
|
25% - RAYMOND WILLIAM LEONARD |
BANTAM
DISTRIBUTORS CC |
NONE |
|
|
8% - YVONNE LUCELLE MERSON |
BANTAM
DISTRIBUTORS CC |
NONE |
|
Key Deals – No Information on Record
|
Trade Reference
nr |
Supplier |
Contact |
Surety Value |
Notarial
Bonds |
Comment |
|
1 |
BRITO TOOLS |
0118353161 |
|
|
|
|
2 |
HENKEL |
0116172400 |
|
|
|
|
3 |
SCAW METALS |
0116211555 |
|
|
|
Trade References Detail
|
Nr |
Age
of Acc |
Credit Limit |
Max
Credit |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
|
1 |
20 Years |
|
R 200000 |
30
Days |
R 200000 |
30 Days |
This is a good account. The
subject has an open account with the suppliers. |
|
2 |
10 Years |
R150000.00 |
R150000 |
30
Days |
R100000 |
30 Days |
This is a good
account |
|
3 |
10
Years |
|
|
30
Days |
R150000 |
30 Days |
This is a good account. The
subject has an open account with the suppliers. |
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 |
KINGSMEAD |
|
Brach
Code |
250655 |
|
Bank
Account Number |
5037110034 |
|
Type
of Account |
CURRENT |
|
Account
Name |
BANTAM
DISTRIBUTORS CC |
|
Overdraft
Facilities |
YES |
|
Bank
Code |
C
- For R 200 000 |
|
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
Estimates
|
CURRENT
ASSETS |
|
|
Stock |
R
9297671.00 |
|
Debtors |
R
5133864.00 |
|
FIXED
ASSETS |
|
|
Plant,
Equipment, Vehicles |
R
363616.00 |
|
Property |
|
|
CURRENT
LIABILITIES |
|
|
Creditors |
R
2298366.00 |
|
Loans/
From? |
R
8532114.00 |
|
Loan
Details |
|
|
LONG
TERM LIABILITIES |
|
|
Morgage
Bonds |
|
|
Previous
Year Turnover |
R
32011552.00 |
|
Estimated
Current Year Turnover |
R
36000000.00 |
|
Current
Turnover per month |
R
3000000.00 |
|
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 |
|
Number
of Principals |
4 |
|
Average
Age of Active Principals |
67 |
|
Active
Principals Active
Principal - 1 of 4 RAYMOND
LEONARD |
|
|
Surname |
LEONARD |
|
First
Name |
RAYMOND |
|
Other
Names |
WILLIAM |
|
Marital
Status |
|
|
ID
Number |
5410235151087 |
|
Verified
ID Number |
Yes |
|
Current
Age |
59
Years 11 Months |
|
Designation |
MEMBER |
|
Status |
Active |
|
Appointment
Date |
2001/10/08 |
|
Physical
Address (at time of Appointment) |
70
JOSEPH ROAD, LYNNWOOD GLEN, PRETORIA, 0081 |
|
Postal
Address |
P.O.
BOX 30763, KYALAMI, 1684 |
|
Current
Tel Number |
0114663231 |
|
Cell
number |
0832552213 |
|
Shareholding/Membership |
25
% |
Principal’s Adverse – No Information on Record
Business Information for RAYMOND LEONARD
Principal Current Business Interests
|
Company
Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
BANTAM DISTRIBUTORS
CC |
B1986/011760/23 |
In Business |
28 Years 4 Months |
0 |
No |
|
|
J MACGILLIVRAY CC |
B1986/011759/23 |
In Business |
28 Years 4 Months |
0 |
No |
|
Principal’s Previous Business interests – No Information on Record
Principal Deeds Information
|
Property
Interests for RAYMOND LEONARD |
|||
|
Title
Deed No. |
T19492/2005 |
Erf/Site
No. |
109 |
|
Deeds
Office |
PRETORIA |
Physical
Address |
70
JOSEPH LYNNWOOD GLEN PRETORIA |
|
Property
Type |
E |
Extent
/ Size |
|
|
Purchase
Date |
2004/09/12 |
Purchase
price |
R1080000.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
NEDBANK
LTD |
|
Bond
Number |
B220232005 |
Bond
Amount |
R1080000.00 |
|
Comment |
|
||
|
Property Interests for RAYMOND
LEONARD |
|||
|
Title
Deed No. |
T24246/2014 |
Erf/Site
No. |
142 |
|
Deeds
Office |
PIETERMARITZBURG |
Physical
Address |
GLENASHLEY |
|
Property
Type |
E |
Extent
/ Size |
1012.0SQM |
|
Purchase
Date |
2014/02/24 |
Purchase
price |
R1780000.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
|
|
Bond
Number |
|
Bond
Amount |
R
0.00 |
|
Comment |
|
||
Active Principal - 2 of 4
GREGORY STEVENS
|
Surname |
STEVENS |
|
First
Name |
GREGORY |
|
Other
Names |
JOHN |
|
Marital
Status |
|
|
ID
Number |
5112205090002 |
|
Verified
ID Number |
Yes |
|
Current
Age |
62
Years 9 Months |
|
Designation |
MEMBER |
|
Status |
Active |
|
Appointment
Date |
2001/10/08 |
|
Physical
Address (at time of Appointment) |
1
ALPHEN CLOSE, HURLINGHAM EXTENSION 5, SANDTON, 1684 |
|
Postal
Address |
P
O BOX 30763, KYALAMI, 1684 |
|
Current
Tel Number |
0114663231 |
|
Cell
number |
0828569775 |
|
Shareholding/Membership |
25
% |
Principal’s Adverse – No Information on Record
Business Information for GREGORY STEVENS
Principal Current Business Interests
|
Company
Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
BANTAM DISTRIBUTORS
CC |
B1986/011760/23 |
In Business |
28 Years 4 Months |
0 |
No |
|
|
J MACGILLIVRAY CC |
B1986/011759/23 |
In Business |
28 Years 4 Months |
0 |
No |
|
Principal’s Previous Business interests – No Information on Record
Active Principal - 3 of 4
JOHN MERSON
|
Surname |
MERSON |
|
First
Name |
JOHN |
|
Other
Names |
BRIDGEFORD |
|
Marital
Status |
|
|
ID
Number |
3409205020183 |
|
Verified
ID Number |
Yes |
|
Current
Age |
80
Years |
|
Designation |
MEMBER |
|
Status |
Active |
|
Appointment
Date |
1986/06/25 |
|
Physical
Address (at time of Appointment) |
523
HORSESHOE CRESCENT, KYALAMI, MIDRAND, 1684 |
|
Postal
Address |
P
O BOX 30763, KYALAMI, MIDRAND, 1684 |
|
Current
Tel Number |
0114663231 |
|
Cell
number |
0727431299 |
|
Shareholding/Membership |
42
% |
Principal’s Adverse – No Information on Record
Business
Information for JOHN MERSON
Principal
Current Business Interests
|
Company
Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
BANTAM DISTRIBUTORS
CC |
B1986/011760/23 |
In
Business |
28
Years 4 Months |
0 |
No |
|
|
BLUEGRASS
TRADING 1084 CC |
B2010/135080/23 |
In
Business |
4
Years 4 Months |
0 |
No |
|
|
BOSS DISTRIBUTORS
(PTY)LTD |
M1967/010362/07 |
Deregistration
Final |
47 Years 11
Months |
0 |
No |
|
|
FORCE INDUSTRIAL
TOOLS CC |
B2010/136578/23 |
In
Business |
4
Years 4 Months |
0 |
No |
|
|
J
MACGILLIVRAY CC |
B1986/011759/23 |
In
Business |
28
Years 4 Months |
0 |
No |
|
Principal's Previous Business Interests - No information on record
Principal Deeds Information
|
Property
Interests for JOHN MERSON |
|||
|
Title
Deed No. |
T33436/2009 |
Erf/Site
No. |
2983 |
|
Deeds
Office |
PIETERMARITZBURG |
Physical
Address |
153
BEACH AMANZIMTOTI |
|
Property
Type |
F |
Extent
/ Size |
1292.00000000 |
|
Purchase
Date |
|
Purchase
price |
R
0.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
|
|
Bond
Number |
|
Bond
Amount |
R
0.00 |
|
Comment |
|
||
|
Property
Interests for JOHN MERSON |
|||
|
Title
Deed No. |
T33436/2009 |
Erf/Site
No. |
2983 |
|
Deeds
Office |
PIETERMARITZBURG |
Physical
Address |
153
BEACH ATHLONE PARK AMANZIMTOTI |
|
Property
Type |
E |
Extent
/ Size |
|
|
Purchase
Date |
|
Purchase
price |
R
0.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
|
|
Bond
Number |
|
Bond
Amount |
R
0.00 |
|
Comment |
|
||
Active Principal - 4 of 4
YVONNE MERSON
|
Surname |
MERSON |
|
First
Name |
YVONNE |
|
Other
Names |
LUCELLE |
|
Marital
Status |
|
|
ID
Number |
4712020077083 |
|
Verified
ID Number |
Yes |
|
Current
Age |
66
Years 9 Months |
|
Designation |
MEMBER |
|
Status |
Active |
|
Appointment
Date |
1986/06/25 |
|
Physical
Address (at time of Appointment) |
523
HORSESHOE CRESCENT, KYALAMI, 1684 |
|
Postal
Address |
P
O BOX 30763, KYALAMI, 1684 |
|
Current
Tel Number |
0114663231 |
|
Cell
number |
0834945999 |
|
Shareholding/Membership |
8
% |
Principal's Adverse - No information on record
Business Information for YVONNE MERSON
Principal Current Business Interests
|
Company
Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
BANTAM DISTRIBUTORS
CC |
B1986/011760/23 |
In
Business |
28
Years 4 Months |
0 |
No |
|
|
BOSS DISTRIBUTORS (PTY)LTD |
M1967/010362/07 |
Deregistration
Final |
47 Years 11
Months |
0 |
No |
|
|
J MACGILLIVRAY CC |
B1986/011759/23 |
In
Business |
28
Years 4 Months |
0 |
No |
|
Principal's
Previous Business Interests - No information on record
Principal
Deeds Information
Property Interests YVONNE MERSON
|
Title
Deed No. |
T33436/2009 |
Erf/Site
No. |
2983 |
|
Deeds
Office |
PIETERMARITZBURG |
Physical
Address |
153
BEACH AMANZIMTOTI |
|
Property
Type |
F |
Extent
/ Size |
1292.00000000 |
|
Purchase
Date |
|
Purchase
price |
R
0.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
|
|
Bond
Number |
|
Bond
Amount |
R
0.00 |
|
Comment |
|
||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.84 |
|
UK Pound |
1 |
Rs.98.73 |
|
Euro |
1 |
Rs.78.64 |
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.