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Report Date : |
30.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
A C SMITH CC |
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Registered Office : |
15 Columbine Place, Avoca Industrial Park, Durban, 4001 |
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Country : |
South
Africa |
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Date of Incorporation : |
04.08.2006 |
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Com. Reg. No.: |
B2006/134423/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
The subject is wholesaler and manufacturer of equestrian goods. |
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No. of Employees : |
Not Available |
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 |
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Payment Behaviour : |
Unknown |
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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 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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 |
A C SMITH CC |
|
Country |
South Africa |
|
Subject Contact Person |
MAXIME NAIDOO - RECEPTIONIST |
|
Assessment |
This is an established business. On investigation contact was made
with MAXIME NAIDOO the receptionist, who advissed that contact should be made
month end, as the director will only be available then, to assist with the
required information. Please see the available information provided below. |
|
Registered Name |
A C SMITH CC |
|
Trading as/ Division Name |
None |
|
Previous Name |
None |
|
Date of Name Change |
None |
|
Registration Number |
B2006/134423/23 |
|
Registration Date |
2006/08/04 |
|
Date Commenced Trading |
2006-08-04 |
|
Age of Business |
8 Years 1 Months |
|
History of Business |
The subject commenced trading as a new business in 2006 |
|
Status |
In Business |
|
Operations Assessment |
The subject is wholesaler and manufacturer of equestrian goods. |
|
Industry/ Customers |
Private and Public |
|
Major Industry Code / SICC |
11210 |
|
Definition of Code |
FARMING: DAIRY, CATTLE, SHEEP, HORSES,
ASSES, MULES AND HINNIES |
|
Head Office Physical Address |
15 COLUMBINE PLACE, AVOCA INDUSTRIAL PARK, DURBAN, 4001 |
|
Head Office Postal Address |
P O BOX 1098, WESTVILLE, 3630 |
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Company Registered Name |
MORRISON MARRAY |
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Trading Name |
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|
Registration Number |
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Physical Address |
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Postal Address |
P O BOX 1098, WESTVILLE, 3630 |
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Contact Person |
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Contact Number |
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Email |
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Principals |
|
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Judgements Against Subject |
|
|
Judgements Against Principals |
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Subject Verified as Client |
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Practice Number |
903094E |
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VAT Number |
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|
Tax Number |
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BEE Status |
|
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Financial Year End |
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No of years in Business |
8 Years 1 Months |
|
Website |
|
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Comment |
|
Previous Auditors Information - No Information on Record
|
Vat Number |
4710101975 |
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Status |
ACTIVE |
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Vat Liable Date |
1991/09/30 |
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Tax Number |
9001118208 |
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Tax Clearance Expire Date |
|
|
Financial Year End |
February |
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Comment |
|
Organisation Chart
|
Level |
Position |
Name |
Comment |
|
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|||
|
1 |
MEMBER |
JOHN GEORGE LAURIE |
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|||
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1 |
MEMBER |
MALCOLM ARTHUR MERCER |
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Company Structure
(Ownership)
Note: One level
up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
35% - JOHN
GEORGE LAURIE |
AC SMITH CC |
NONE |
|
|
55% - MALCOLM ARTHUR MERCER |
AC SMITH CC |
NONE |
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|
10% - JGL |
AC SMITH CC |
NONE |
|
Key Deals - No Information on Record
Trade References Information - No
Information on Record
Judgements - No information on record
BusinessRescue - No Information on Record
Default Listing - No information on record
Notarial
Bonds - No information on record
Property Interests for Company A C SMITH CC
|
Title Deed No. |
T99419/1996 |
Erf/Site No. |
2447 |
|
Deeds Office |
PRETORIA |
Physical Address |
14 MANGAAN 2159-0190-000 RUSTENBURG |
|
Property Type |
Farms |
Extent / Size |
607.00000000 |
|
Purchase Date |
1996/06/17 |
Purchase price |
R 500000.00 |
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
R 0.00 |
|
Comment |
|
||
|
Number of Principals |
5 |
|
Average Age of Active Principals |
56 |
|
Active Principals Active Principal - 1 of 3 JOHN LAURIE |
|
|
Surname |
LAURIE |
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First Name |
JOHN |
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Other Names |
|
|
Marital Status |
Married |
|
ID Number |
6305035027108 |
|
Verified ID Number |
Yes |
|
Current Age |
51 Years 4 Months |
|
Designation |
MEMBER |
|
Status |
Active |
|
Appointment Date |
2006/08/04 |
|
Physical Address (at time of Appointment) |
7 O'CONNOR PLACE, GLENASHLEY, 4051 |
|
Postal Address |
P.O. BOX 201199, DURBAN NORTH, DURBAN NORTH, 4016 |
|
Current Tel Number |
0315699119 |
|
Cell number |
0837892381 |
|
Shareholding/Membership |
35.00 |
Business Information for JOHN LAURIE
Principal Current Business Interests
|
Company Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
A C SMITH CC |
B2006/134423/23 |
In Business |
8 Years 8 Months |
0 |
No |
|
|
AVOCA CHEMICALS CC |
B2000/062388/23 |
In Business |
14 Years 2 Months |
0 |
No |
|
|
M M J OUTSOURCING CC |
B2004/020392/23 |
In Business |
10 Years 10 Months |
0 |
No |
|
|
PET CARE DISTRIBUTORS AND EXPORTERS (PTY)LTD |
M1991/000426/07 |
Conversion CO/CC or CC/CO |
23 Years 11 Months |
0 |
No |
|
|
PETCARE DISTRIBUTORS AND EXPORTERS CC |
B1995/045399/23 |
In Business |
19 Years 7 Months |
0 |
No |
|
|
ROMX TRADING (PTY)LTD |
K2012/213303/07 |
In Business |
2 Years 2 Months |
0 |
No |
|
|
S A FELT CONVERTORS CC |
B1994/004937/23 |
In Business |
20 Years 8 Months |
0 |
No |
|
|
TEGRO PROPERTY INVESTMENTS (PTY)LTD |
M1990/000921/07 |
Voluntary Liquidation |
0 |
0 |
Yes |
|
Principal Deeds Information
Property Interests for JOHN LAURIE
|
Title Deed No. |
T53924/2002 |
Erf/Site No. |
3193 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
7 O CONNOR VIRGINIA DURBAN NORTH |
|
Property Type |
E |
Extent / Size |
|
|
Purchase Date |
2002/06/10 |
Purchase price |
R 800000.00 |
|
% Ownership |
0.00 |
Bond Holder |
FIRSTRAND BANK LTD |
|
Bond Number |
B319712002 |
Bond Amount |
R 540000.00 |
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Comment |
|
||
|
Property
Interests for JOHN LAURIE |
|||
|
Title Deed No. |
T31530/1993 |
Erf/Site No. |
3313 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
15 COLUMBINE DURBAN NORTH |
|
Property Type |
F |
Extent / Size |
3416.00000000 |
|
Purchase Date |
|
Purchase price |
R 0.00 |
|
% Ownership |
0.00 |
Bond Holder |
N B S MORTGAGE NOMINEES PTY LTD |
|
Bond Number |
B445401993 |
Bond Amount |
R 700000.00 |
|
Comment |
|
||
|
Property
Interests for JOHN LAURIE |
|||
|
Title Deed No. |
T31530/1993 |
Erf/Site No. |
3278 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
19 COLUMBINE DURBAN NORTH |
|
Property Type |
F |
Extent / Size |
2358.00000000 |
|
Purchase Date |
|
Purchase price |
R 0.00 |
|
% Ownership |
0.00 |
Bond Holder |
N B S MORTGAGE NOMINEES PTY LTD |
|
Bond Number |
B445401993 |
Bond Amount |
R 700000.00 |
|
Comment |
|
||
|
Property
Interests for JOHN LAURIE |
|||
|
Title Deed No. |
T29226/1988 |
Erf/Site No. |
61 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
20 WELWITSCHIA DURBAN |
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Property Type |
F |
Extent / Size |
|
|
Purchase Date |
1988/07/19 |
Purchase price |
R132000.00 |
|
% Ownership |
0.00 |
Bond Holder |
FIRST NATIONAL BANK OF SOUTH AFRICA LTD |
|
Bond Number |
B350521988 |
Bond Amount |
R 72000.00 |
|
Comment |
|
||
Active Principal - 2 of 3
MALCOLM MERCER
|
Surname |
MERCER |
|
First Name |
MALCOLM |
|
Other Names |
|
|
Marital Status |
|
|
ID Number |
5510305001003 |
|
Verified ID Number |
Yes |
|
Current Age |
58 Years 11 Months |
|
Designation |
|
|
Status |
Active |
|
Appointment Date |
2006/08/04 |
|
Physical Address (at time of Appointment) |
11 EVAN CIRCLE, MT EDGECOMBE, 4302 |
|
Postal Address |
P.O. BOX 201199, DURBAN NORTH, DURBAN NORTH, 4016 |
|
Current Tel Number |
0315699101 |
|
Cell number |
0837767765 |
|
Shareholding/Membership |
55.00 |
Business
Information for MALCOLM MERCER
Principal Current
Business Interests
|
Company Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
A C SMITH CC |
B2006/134423/23 |
In Business |
8 Years 8 Months |
0 |
No |
|
|
AVOCA CHEMICALS CC |
B2000/062388/23 |
In Business |
14 Years 2 Months |
0 |
No |
|
|
COLUMBINE PET DISTRIBUTORS CC |
B1997/030498/23 |
In Business |
17 Years 5 Months |
0 |
No |
|
|
HENQUE 2816 CC |
B2000/015599/23 |
Deregistration Process |
14 Years 2 Months |
0 |
No |
|
|
L L MANUFACTURING CC |
B1990/008812/23 |
In Business |
0 |
0 |
No |
|
|
LOT 15 BLOCK R DURBAN (PTY)LTD |
M1969/002391/07 |
Provisional Liquidation |
45 Years 9 Months |
0 |
Yes |
|
|
M M J OUTSOURCING CC |
B2004/020392/23 |
In Business |
10 Years 10 Months |
0 |
No |
|
|
PET CARE DISTRIBUTORS AND EXPORTERS (PTY)LTD |
M1991/000426/07 |
Conversion CO/CC or CC/CO |
23 Years 11 Months |
0 |
No |
|
|
PETCARE DISTRIBUTORS AND EXPORTERS CC |
B1995/045399/23 |
In Business |
19 Years 7 Months |
0 |
No |
|
|
ROLF C HAGEN (S A) (PTY)LTD |
M1995/011678/07 |
In Business |
19 Years 7 Months |
0 |
No |
|
|
ROMX TRADING (PTY)LTD |
K2012/213303/07 |
In Business |
2 Years 2 Months |
0 |
No |
|
|
S A FELT CONVERTORS CC |
B1994/004937/23 |
In Business |
20 Years 8 Months |
0 |
No |
|
|
SHURPROPS1007 CC |
B1995/017075/23 |
Deregistration Process |
19 Years 7 Months |
0 |
No |
|
|
TEGRO PROPERTY INVESTMENTS (PTY)LTD |
M1990/000921/07 |
Voluntary Liquidation |
0 |
0 |
Yes |
|
Principal Deeds
Information
Average Age of Previous Business 15
Years
|
Company
Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
NATURE PET (PTY)LTD |
M1999/010004/07 |
In Business |
15 Years 3 Months |
0 |
No |
|
|
Title Deed No. |
|
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
|
Comment |
|
||
Active Principal -
3 of 3 GLYNNIS MUN GAVIN
|
Surname |
MUN GAVIN |
|
First Name |
GLYNNIS |
|
Other Names |
|
|
Marital Status |
|
|
ID Number |
5405120067083 |
|
Verified ID Number |
Yes |
|
Current Age |
60 Years 4 Months |
|
Designation |
|
|
Status |
Active |
|
Appointment Date |
2006/08/04 |
|
Physical Address (at time of Appointment) |
15 CORONATION ROAD, BEREA, DURBAN, 4001 |
|
Postal Address |
P O BOX 201199, DURBAN NORTH, 4016 |
|
Current Tel Number |
0312687200 |
|
Cell number |
0838252790 |
|
Shareholding/Membership |
10.00 |
Business
Information for GLYNNIS MUN GAVIN
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
A C SMITH CC |
B2006/134423/23 |
In Business |
8 Years 8 Months |
0 |
No |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.43 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.77.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SDA |
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.