|
Report Date : |
29.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
THE HYDRAULIC CENTRE (PTY) LTD |
|
|
|
|
Registered Office : |
Stand |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
02.12.1996 |
|
|
|
|
Com. Reg. No.: |
M1996/016993/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Subject
is engaged in imports and exports hydraulic hoses and fittings |
|
|
|
|
No of Employees : |
110 |
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 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 |
THE HYDRAULIC CENTRE (PTY)LTD |
|
Country |
South Africa |
|
Subject Contact Person |
ABDULAH LOONAT - Financial Director |
|
Assessment |
This is an established business. On
investigation contact was made with ABDULAH LOONAT the financial director.
The subject is meeting commitments timeously with suppliers. We obtained a
bank code C for R 1 000 000 over a period of 30 days. Please see the
available information on the subject below. |
|
Registered
Name |
THE
HYDRAULIC CENTRE (PTY)LTD |
|
Trading
as/ Division Name |
None |
|
Previous
Name |
None |
|
Date
of Name Change |
None |
|
Registration
Number |
M1996/016993/07 |
|
Registration
Date |
1996/12/02 |
|
Date
Commenced Trading |
1996-12-02 |
|
Age
of Business |
17
Years 9 Months |
|
History
of Business |
The
subject started as a supplier of hydraulic hoses and fittings, in May 1987 as
a sole proprietor. The company has grown from a small operation of just two
people into a medium sized organisation of over 100 staff operating from 4
locations. |
|
History
of Principals |
There
are 4 active principals within the company. |
|
Shareholders/Members/Partners
of subject and % holding |
50 % - ZAHEER
SAYED MOHAMED, 50 % - JUNAID MOHAMED |
|
Authorised
Share Capital |
|
|
Issued
Share Capital/Members Contribution |
|
|
Status |
In
Business |
|
Operations
Assessment |
The
subject imports and exports hydraulic hoses and fittings |
|
Industry/
Customers |
The
mining industry |
|
Export |
Yes |
|
Export
Countries |
China,India |
|
Import |
Yes |
|
Import
Countries |
|
|
Major
Industry Code / SICC |
85291 |
|
Definition
of Code |
SUPPLY
OF MINING EQUIPMENT |
|
Head
Office Physical Address |
STAND 447 ANVILL
ROAD, ROBERTVILLE, EXT 12, ROODERPOORT, 1724 |
|
Head
Office Postal Address |
PO
BOX 745, MARAISBURG, 1700 |
|
Current
Tel Number |
0114749650 |
|
Cell
Number |
|
|
Current
Fax Number |
0114748633 |
|
Current
Email Address |
|
|
Web
Site Address |
|
Company
Registered Name |
BRF
AND CO |
|
Trading
Name |
NONE |
|
Registration
Number |
PARTNERSHIP |
|
Physical
Address |
EMPIRE
PARK BLOCK B, GROUNDFLOOR, 55 EMPIRE ROAD, PARKTOWN, 2193 |
|
Postal
Address |
PO
BOX 2889, PINEGROWRIE, 2123 |
|
Contact
Person |
BRETT |
|
Contact
Number |
0114828419 |
|
Email |
|
|
Principals |
|
|
Judgements
Against Subject |
Unavailable |
|
Judgements
Against Principals |
Unavailable |
|
Subject
Verified as Client |
Yes |
|
Practice
Number |
909750 |
|
VAT
Number |
Declined |
|
Tax
Number |
Declined |
|
BEE
Status |
Declined |
|
Financial
Year End |
Declined |
|
No
of years in Business |
Declined |
|
Website |
Previous Auditors Information - No Information on Record
|
Vat
Number |
4590120350 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
1991/09/30 |
|
Tax
Number |
9287324843 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
February |
|
Comment |
|
|
Black
Economic Empowerment |
|
|
Status |
Yes |
|
Score |
4.00 |
|
Expire
Date |
Aug
3 2015 |
|
BEE
Certificate Available |
No |
|
Comment |
|
|
ISO
Status |
|
|
Type
of ISO Grade |
9001 |
|
ISO
Certificate |
Yes |
|
ISO
Certificate Available |
No |
|
Certified
by an Accredited Agent |
Yes |
|
Comment |
|
|
|
|
|
Type
of ISO Grade |
2000 |
|
ISO
Certificate |
Yes |
|
ISO
Certificate Available |
No |
|
Certified
by an Accredited Agent |
Yes |
|
Workman's
compensation |
|
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
Subsidiaries Information - No Information on Record
Employees
|
Number
of Employees |
110 |
|||
|
1.
Salaried employees |
110 |
|||
|
2.
Waged employees |
|
|||
|
3.
Permanent employees |
110 |
|||
|
4.
Casual employees |
|
|||
|
5.
Contracted employees |
|
|||
|
Comment |
|
|||
|
Company
Fleet |
||||
|
Company
Fleet |
No
of vehicles: |
Owned/Leased |
Value |
Outstanding
Balance |
|
Fleet
Operations |
|
|
|
|
|
The
Fleet is made up of |
25 |
|||
|
Comment |
|
|||
|
Cars |
9 |
Owned |
|
|
|
Light
delivery Vehicles |
13 |
Owned |
|
|
|
Trucks |
1 |
Owned |
|
|
|
Fork
Lifts |
2 |
Owned |
|
|
|
Offices |
Offices |
|
Head
Office Owned/ Rented |
Owned |
|
Rental
Company |
|
|
Owned
by |
|
|
Value |
|
|
Bond |
|
|
Bank |
|
|
Lease
Agreement |
|
|
Lease
Expire Date |
|
|
Type
of Premises |
Office
block and a warehouse |
|
Comment |
|
|
Branches Names |
Country |
Province |
|
THE HYDRAULIC CENTER (PTY) LTD (
JETPARK) |
South Africa |
GAUTENG |
|
THE HYDRAULIC CENTER (PTY) LTD
(KRUGERSDORP) |
South Africa |
GAUTENG |
|
THE HYDRAULIC CENTER (PTY) LTD
(BOOYSENS) |
South Africa |
GAUTENG |
|
Branch
Detail Information |
||
|
Branches
Owned/ Rented |
Leased |
|
|
Rental
Company |
|
|
|
Owned
by |
|
|
|
Value |
|
|
|
Bond |
|
|
|
Bank |
|
|
|
Lease
Agreement |
|
|
|
Lease
Expire Date |
|
|
|
Type
of Premises |
Office
block and a warehouse |
|
|
Comment |
|
|
|
Branches
Owned/ Rented |
Leased |
|
Rental
Company |
|
|
Owned
by |
|
|
Value |
|
|
Bond |
|
|
Bank |
|
|
Lease
Agreement |
|
|
Lease
Expire Date |
|
|
Type
of Premises |
Office
block and a warehouse |
|
Comment |
|
|
|
|
|
Branches
Owned/ Rented |
Leased |
|
Rental
Company |
|
|
Owned
by |
|
|
Value |
|
|
Bond |
|
|
Bank |
|
|
Lease
Agreement |
|
|
Lease
Expire Date |
|
|
Type
of Premises |
Office
block and a warehouse |
|
Comment |
|
ORGANIZATION CHART
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
DIRECTOR |
JUNAID MOHAMED |
|
|
|
|||
|
1 |
DIRECTOR |
ZAHEER SAYED
MOHOMED |
|
|
|
|||
|
1 |
DIRECTOR |
AMIN SAYED
MOHOMED |
|
|
|
|||
|
1 |
DIRECTOR |
HASIRA SAYED
MOHAMED |
|
|
|
|||
|
2 |
FINANCIAL
DIRECTOR |
ABDULAH LOONAT |
|
Company Structure (Ownership)
Note: One level
up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
50% - JUNAID MOHAMED |
THE HYDRAULIC CENTRE (PTY) LTD |
NONE |
|
|
50% -
ZAHEER SAYED MOHAMED |
THE HYDRAULIC CENTRE (PTY) LTD |
NONE |
|
Key
Deals - No Information on Record
|
Trade Reference nr |
Supplier |
Contact |
Surety
Value |
Notarial Bonds |
Comment |
|
1 |
CARGO CAMPUS |
0114542010 |
|
|
|
|
2 |
HYDRAULIC COMPONENTS |
0112556500 |
|
|
|
|
3 |
ALPHA GOMA |
0112010900 |
|
|
|
Trade References Detail
|
Nr |
Age of Acc |
Credit
Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
10 Years |
R1500000.00 |
R1500000 |
7 Days |
R1000000 |
7 Days |
Good account |
|
2 |
10 Years |
R
200000.00 |
R 200000 |
30
Days |
R150000 |
30 Days |
Good account |
|
3 |
16 Years |
R
300000.00 |
R 300000 |
30
Days |
R 200000 |
30 Days |
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 |
ABSA |
|
Branch |
HORIZON |
|
Brach
Code |
632005 |
|
Bank
Account Number |
01083700153 |
|
Type
of Account |
CURRENT |
|
Account
Name |
THE
HYDRAULIC CENTRE (PTY) LTD |
|
Overdraft
Facilities |
NO |
|
Bank
Code |
C
- For R 1 000 000 |
|
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 |
|
|
Debtors |
|
|
FIXED
ASSETS |
|
|
Plant,
Equipment, Vehicles |
|
|
Property |
|
|
CURRENT
LIABILITIES |
|
|
Creditors |
|
|
Loans/
From? |
|
|
Loan
Details |
|
|
LONG
TERM LIABILITIES |
|
|
Morgage
Bonds |
|
|
Previous
Year Turnover |
R110000000.00 |
|
Estimated
Current Year Turnover |
|
|
Current
Turnover per month |
R10000000.00 |
|
Current
Turnover per annum |
R120000000.00 |
|
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 |
|
Number
of Principals |
4 |
|
Average
Age of Active Principals |
50 |
|
Active Principals Active Principal - 1 of 4 JUNAID MOHAMED |
|
|
Surname |
MOHAMED |
|
First
Name |
JUNAID |
|
Other
Names |
Unavailable |
|
Marital
Status |
|
|
ID
Number |
8109105153085 |
|
Verified
ID Number |
Yes |
|
Current
Age |
33
Years |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2010/10/01 |
|
Physical
Address (at time of Appointment) |
104
FLAMINGO STREET, NASIA, 820 |
|
Postal
Address |
PO
BOX 745, MARAISBURG, MARAISBURG, 1700 |
|
Current
Tel Number |
0113977144 |
|
Cell
number |
0834135291 |
|
Shareholding/Membership |
50% |
Principals Adverse –
No Information On Record
Business
Information for JUNAID MOHAMED
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
FLUID PIPING TECHNOLOGIES (PTY)LTD |
M2000/004253/07 |
In Business |
14 Years 2 Months |
0 |
No |
|
HYDRAULIC
AND PNEUMATIC HUB (PTY)LTD |
K2012/103573/07 |
In Business |
2 Years 2 Months |
0 |
No |
|
THE
HYDRAULIC CENTRE (PTY)LTD |
M1996/016993/07 |
In Business |
18 Years 6 Months |
0 |
No |
Principal
Deeds Information
Property Interests for JUNAID MOHAMED
|
Title
Deed No. |
T17875/2011 |
Erf/Site
No. |
629 |
|
Deeds
Office |
JOHANNESBURG |
Physical
Address |
10
MALOPO EMMARENTIA RANDBURG |
|
Property
Type |
E |
Extent
/ Size |
|
|
Purchase
Date |
2011/04/05 |
Purchase
price |
R1900000.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
|
|
Bond
Number |
|
Bond
Amount |
R
0.00 |
|
Comment |
|
||
Active
Principal - 2 of 4
ZAHEER
MOHOMED
|
Surname |
MOHOMED |
|
First
Name |
ZAHEER |
|
Other
Names |
SAYED |
|
Marital
Status |
|
|
ID
Number |
7701045219082 |
|
Verified
ID Number |
Yes |
|
Current
Age |
37
Years 8 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2010/10/01 |
|
Physical
Address (at time of Appointment) |
104
FLAMINGO STREET, LENASIA, 1820 |
|
Postal
Address |
PO
BOX 745, MARAISBURG, MARAISBURG, 1700 |
|
Current
Tel Number |
0113283000 |
|
Cell
number |
0832843971 |
|
Shareholding/Membership |
50% |
Principals Adverse –
No Information On Record
Business
Information for ZAHEER MOHOMED
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
FLUID PIPING TECHNOLOGIES (PTY)LTD |
M2000/004253/07 |
In Business |
14 Years 2 Months |
0 |
No |
|
HYDRAULIC
AND PNEUMATIC HUB (PTY)LTD |
K2012/103573/07 |
In Business |
2 Years 2 Months |
0 |
No |
|
THE
HYDRAULIC CENTRE (PTY)LTD |
M1996/016993/07 |
In Business |
18 Years 6 Months |
0 |
No |
Principal
Deeds Information
Property Interests for ZAHEER MOHOMED
|
Title
Deed No. |
T8692/2003 |
Erf/Site
No. |
729 |
|
Deeds
Office |
JOHANNESBURG |
Physical
Address |
3
MUIRFIELD EMMARENTIA RANDBURG |
|
Property
Type |
E |
Extent
/ Size |
|
|
Purchase
Date |
2002/12/01 |
Purchase
price |
R910000.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
|
|
Bond
Number |
|
Bond
Amount |
R
0.00 |
|
Comment |
|
||
Active
Principal - 3 of 4
AMIN MOHOMED
|
Surname |
MOHOMED |
|
First
Name |
AMIN |
|
Other
Names |
SAYED |
|
Marital
Status |
|
|
ID
Number |
4702095147051 |
|
Verified
ID Number |
Yes |
|
Current
Age |
67
Years |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
1996/12/02 |
|
Physical
Address (at time of Appointment) |
104
FLAMINGO STREET, LENASIA EXT 1, |
|
Postal
Address |
PO
BOX 4133, LUIPAARDSVLEI, 1743 |
|
Current
Tel Number |
0114749650 |
|
Cell
number |
0832859786 |
|
Shareholding/Membership |
0.00 |
Principals Adverse –
No Information on Record
Business Information for AMIN MOHOMED
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
AMILAH PROPERTIES
CC |
B1999/015409/23 |
In
Business |
15
Years 3 Months |
0 |
No |
|
CARLETONVILLE HYDRAULICS (PTY)LTD |
M1975/000469/07 |
In
Business |
39
Years 3 Months |
0 |
No |
|
FLIGHT PATH
INVESTMENTS (PTY)LTD |
M2001/028593/07 |
In
Business |
13
Years 1 Months |
0 |
No |
|
HIGHVELD HYDRAULICS (PTY)LTD |
M1981/008146/07 |
Deregistration
Final |
33
Years 9 Months |
0 |
No |
|
HYDRAUMAC
HYDRAULICS (KRUGERSDORP) CC |
B1996/061664/23 |
Deregistration
Final |
18
Years 6 Months |
0 |
No |
|
LUIPAARDSVLEI INVESTMENTS (PTY)LTD |
M1996/016995/07 |
In
Business |
18
Years 6 Months |
0 |
No |
|
PHOENIX HOSE AND
FITTINGS (PTY)LTD |
M2002/005436/07 |
In
Business |
0 |
0 |
No |
|
RAMPAK HYDRAULIC
REPAIRS CC |
B1990/003676/23 |
|
0 |
0 |
No |
|
ROBERTVILLE
INVESTMENTS (PTY)LTD |
M1997/014284/07 |
In
Business |
17
Years 5 Months |
0 |
No |
|
SAMFLEX
MINING SUPPLIES CC |
B2003/087492/23 |
Deregistration
Process |
11
Years 11 Months |
0 |
No |
|
THE
HYDRAULIC CENTRE (BOOYSENS) (PTY)LTD |
M2003/027474/07 |
Deregistration
Process |
11
Years 11 Months |
0 |
No |
|
THE
HYDRAULIC CENTRE (PTY)LTD |
M1996/016993/07 |
In
Business |
18
Years 6 Months |
0 |
No |
Principal Previous Business Interests
Average Age of Previous Business 10 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
|
|
FLUID
PIPING TECHNOLOGIES (PTY)LTD |
M2000/004253/07 |
In Business |
14 Years 2 Months |
0 |
No |
|
|
|
HELCON
TOOLS AND EQUIPMENT CC |
B2007/216653/23 |
In
Business |
7
Years 7 Months |
0 |
No |
||
|
MARLIM
SERVICES (PTY)LTD |
M1994/004398/07 |
In
Business |
20 Years 8 Months |
1 |
No |
||
|
TRACKLESS
SUPPORT SERVICES CC |
B2001/061948/23 |
In
Business |
13
Years 1 Months |
0 |
No |
||
|
XTREME HOSE TECHNOLOGIES (PTY)LTD |
M2002/010198/07 |
In
Business |
|
0 |
No |
||
Active
Principal - 4 of 4
HAJIRA
MOHAMED
|
Surname |
MOHAMED |
|
First
Name |
HAJIRA |
|
Other
Names |
SAYED |
|
Marital
Status |
|
|
ID
Number |
4902040121058 |
|
Verified
ID Number |
Yes |
|
Current
Age |
65
Years 6 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
1996/12/02 |
|
Physical
Address (at time of Appointment) |
6
SPRINGFIELD PARK, SUNSET BOULEVARD, LONEHILL, SANDTON, 2191 |
|
Postal
Address |
6
SPRINGFIELD PARK, SUNSET BOULEVARD, LONEHILL, SANDTON, 2191 |
|
Current
Tel Number |
|
|
Cell
number |
0834571419 |
|
Shareholding/Membership |
0.00 |
Principals Adverse –
No Information on Record
Business
Information for HAJIRA MOHAMED
Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
LUIPAARDSVLEI INVESTMENTS (PTY)LTD |
M1996/016995/07 |
In
Business |
18
Years 6 Months |
0 |
No |
|
MYKATRADE
97 CC |
B2002/014573/23 |
In
Business |
0 |
0 |
No |
|
ROBERTVILLE
INVESTMENTS (PTY)LTD |
M1997/014284/07 |
In
Business |
17
Years 5 Months |
0 |
No |
|
SATELLITE
ISLAM |
M2002/020867/08 |
Deregistration
Process |
0 |
0 |
No |
|
THE
HYDRAULIC CENTRE (PTY)LTD |
M1996/016993/07 |
In
Business |
18
Years 6 Months |
0 |
No |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.57 |
|
|
1 |
Rs.100.42 |
|
Euro |
1 |
Rs.78.45 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TPT |
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.