|
Report No. : |
316535 |
|
Report Date : |
15.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
ARCTOCEL
(PTY) LTD |
|
|
|
|
Registered Office : |
42 Homestead Road River Park, 1st Floor Galaxy House, Sandton, 2120 P O Box 67458, Bryanston, 2021 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
08.04.2010 |
|
|
|
|
Com. Reg. No.: |
2012/019903/07 |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject
export Mineral & Metals, Manganese, Chrome, Iron Ore, Coal. |
|
|
|
|
No. of Employee : |
33 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 Africa’s largest and among the top 20 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, and GDP fell nearly 2% in 2009 but has recovered since then, albeit slowly, with 2014 growth less than 2%. Unemployment, poverty, and inequality - among the highest in the world - remain a challenge. Official unemployment is roughly 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. Load shedding and resulting rolling blackouts gripped many parts of South Africa in late 2014 because of electricity supply constraints that resulted from technical problems at some generation units, unavoidable planned maintenance, and an accident at a power station in Mpumalanga province. The rolling black outs were the worst the country faced since 2008. Construction delays at two additional plants, however, mean South Africa will continue to operate 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 faces structural constraints that also limit economic growth, such as skills shortages, declining global competitiveness and frequent work stoppages. 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 |
ARCTOCEL
(PTY)LTD |
|
Country |
South
Africa |
|
Requested
Credit Limit |
R1000000.00 |
|
Enquiry
Terms |
30 Days |
|
Account
Review |
Recommended
Every 6 Months |
|
Subject
Contact Person |
SHASHI
KANT DALMIA- FINANCIAL MANAGER |
|
Assessment |
This is an
established business. On investigation contact was made with SHASHI KANT
DALMIA the financial controller. 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 |
ARCTOCEL
(PTY)LTD |
|
Trading
as/ Division Name |
NONE |
|
Previous
Name |
NONE |
|
Date of
Name Change |
NONE |
|
Registration
Number |
M2010/006739/07 |
|
Registration
Date |
2010/04/08 |
|
Date
Commenced Trading |
2010-04-08 |
|
Age of
Business |
5 Years |
|
History
of Business |
The
subject was previously owned by Mr SANJAY JHUNJHUNWALA, then went through ownership
change in 2012, however commenced trading as a new business in 2010 |
|
History
of Principals |
There is
1 active principal within the subject |
|
Shareholders/Members/Partners
of subject and % holding |
100% -
ARNAV JHUNJHUNWALA |
|
Authorised
Share Capital |
|
|
Issued
Share Capital/Members Contribution |
|
|
Status |
In
Business |
|
Operations
Assessment |
The
subject export Mineral & Metals, Manganese, Chrome, Iron Ore, Coal. |
|
Industry/
Customers |
Scrap
metals and minerals Industry |
|
Export |
Yes |
|
Export
Countries |
India |
|
Import |
|
|
Import
Countries |
|
|
Major
Industry Code / SICC |
61420 |
|
Definition
of Code |
Wholesale
trade in metal and metal ores |
|
Head
Office Physical Address |
42 HOMESTEAD
ROAD RIVER PARK, 1ST FLOOR GALAXY HOUSE, SANDTON, 2120 |
|
Head
Office Postal Address |
P O BOX
67458, BRYANSTON, 2021 |
|
Current
Tel Number |
0112345230 |
|
Cell
Number |
0768343588 |
|
Current
Fax Number |
0112345240 |
|
Current
Email Address |
|
|
Web Site
Address |
None |
|
Comments |
|
|
Company
Registered Name |
LEVITT
KIRSON CHARTERED ACCOUNTANTS (S.A) |
|
Trading
Name |
NONE |
|
Registration
Number |
2012/019903/07 |
|
Physical
Address |
4TH
FLOOR ALOE GROVE, HOUGHTON ESTATES OFFICE PARK, 2 OSBORN ROAD, HOUGHTON, 2198 |
|
Postal
Address |
PO BOX
225, HIGHLANDS NORTH, 2037 |
|
Contact
Person |
ANDY
KHOOSAL |
|
Contact
Number |
011 483
4000 |
|
Email |
|
|
Principals |
8 |
|
Judgements
Against Subject |
|
|
Judgements
Against Principals |
|
|
Subject
Verified as Client |
|
|
Practice
Number |
03040821 |
|
VAT
Number |
4090213523 |
|
Tax
Number |
|
|
BEE Status |
|
|
Financial
Year End |
February |
|
No of
years in Business |
4 Years
2 Months |
|
Website |
|
|
Comment |
|
PREVIOUS AUDITORS INFORMATION - NO INFORMATION ON RECORD
|
Vat
Number |
4110256569 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
|
|
Tax
Number |
9303576178 |
|
Tax
Clearance Expire Date |
2015/11/06 |
|
Financial
Year End |
December |
|
Comment |
|
BLACK ECONOMIC
EMPOWERMENT INFORMATION - NO INFORMATION ON RECORD
ISO
INFORMATION - NO INFORMATION ON RECORD
WORK MANS INFORMATION
- NO INFORMATION ON RECORD
Subsidiary
|
Subsidiary
Company |
ALPHA
RECYCLING (PTY) LTD |
|||
|
Shareholding |
100% |
|||
|
Registration
Number |
2013/001617/07 |
|||
|
Import /
Export |
NONE |
|||
|
Comment |
|
|||
|
|
||||
|
Subsidiary
Company |
SA
GENERAL TRADING AND RECYCLING (PTY) LTD |
|||
|
Shareholding |
100%o |
|||
|
Registration
Number |
2013/052369/07 |
|||
|
Import /
Export |
NONE |
|||
|
Comment |
|
|||
|
EMPLOYEES |
||||
|
Number
of Employees |
33 |
|||
|
1.
Salaried employees |
|
|||
|
2. Waged
employees |
|
|||
|
3.
Permanent employees |
23 |
|||
|
4.
Casual employees |
|
|||
|
5.
Contracted employees |
10 |
|||
|
Comment |
|
|||
|
COMPANY
FLEET |
||||
|
Company
Fleet |
No of
vehicles: |
Owned/Leased |
Value |
Outstanding
Balance |
|
Fleet
Operations |
|
|
|
|
|
The
Fleet is made up of |
93 |
|||
|
Comment |
|
|||
|
Cars |
20 |
Owned |
R
2952297.00 |
R1576854.00 |
|
Light delivery
Vehicles |
1 |
Owned |
R
96404.00 |
R
32135.00 |
|
Trailers |
64 |
Owned |
R
3751876.00 |
R1616754.00 |
|
Trucks |
6 |
Owned |
R1511016.00 |
R
751167.00 |
|
Fork
Lifts |
1 |
Owned |
R
65000.00 |
R
35208.00 |
|
Other |
1 |
Owned |
R
994000.00 |
R
596400.00 |
OFFICES
|
Offices |
Offices |
|
Head
Office Owned/ Rented |
Leased |
|
Rental
Company |
ERIS
PROPERTY GROUP |
|
Owned by |
JOSE
JACKSON |
|
Value |
|
|
Bond |
|
|
Bank |
|
|
Lease
Agreement |
|
|
Lease
Expire Date |
30 APRIL
201 |
|
Type of
Premises |
Office
blocks |
|
Comment |
|
BRANCH INFORMATION
- NO INFORMATION ON RECORD
ORGANISATION CHART
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
DIRECTOR |
ARNAV
JHUNJHUNWALA |
|
|
|
|||
|
2 |
FINANCIAL
CONTROLLER |
SHASHI
KANT DALMIA |
|
COMPANY STRUCTURE
(OWNERSHIP)
NOTE: ONE LEVEL UP
AND ALL LEVELS DOWN
|
Holding |
Company |
Sub |
Comment |
|
100% - ARNAV JHUNJHUNWALA |
ARCTOCEL (PTY)LTD |
Yes |
|
KEY DEALS SIGNED
WITHIN THE PAST 12 MONTHS.
|
Company |
Value |
Contact |
Comment |
|
JOLLY C.C |
R18629850.00 |
0396846780 |
|
|
GAGAN
FERROTECH |
$
3198333.00 |
+919233304856 |
|
|
SHAKAMBARI
ISPAT AND POWER LTD |
$
1654054.00 |
+919233304856 |
|
|
SUPER
SMELTERS LTD |
$
1417428.00 |
+919830736182 |
|
|
VIRAJ
PROFILES LIMITED |
$
349398.00 |
+917875443544 |
|
|
JIANGSU FULL WINNER
MINERAL RESOURCES CO.LTD |
$ 740857.00 |
+051885428539 |
|
|
Trade
Reference nr |
Supplier |
Contact |
Surety
Value |
Notarial
Bonds |
Comment |
|
1 |
FERROUS
METAL PROCESSORS |
0119174466 |
|
|
|
|
2 |
BIN
SERVISES (PTY) LTD |
0732599456 |
|
|
|
|
3 |
SASOLBURG
SCRAP METAL |
0169860732 |
|
|
|
|
4 |
NN METALS
(PTY) LTD |
012 804
9676 |
|
|
|
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
|
1 |
3 Years |
|
|
30 Days |
R150000 |
30 Days |
This is a
good account. The subject has an open account with the supplier. |
|
2 |
2 Years |
|
|
|
R 50000 |
|
This is a good
account. the subject deals with the supplier on a COD basis. |
|
3 |
4 Years |
R
2000000.00 |
R 2000000 |
30 Days |
R1000000 |
30 Days |
This is a
good account. |
|
4 |
4 Years |
R100000.00 |
R100000 |
30 Days |
R 85000 |
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 |
ROSEBANK |
|
Brach Code |
250655 |
|
Bank Account Number |
62277432896 |
|
Type of Account |
CURRENT ACCOUNT |
|
Account Name |
ARCTOCEL(PTY)LTD |
|
Overdraft Facilities |
10000000 |
|
Bank Code |
C FOR R1000000 |
|
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
PROPERTY INTERESTS
FOR COMPANY ARCTOCEL (PTY)LTD
|
Title Deed No. |
T14178/2015 |
Erf/Site No. |
1240 |
|
Deeds Office |
PRETORIA |
Physical Address |
BRYANSTON |
|
Property Type |
Freehold |
Extent / Size |
1136.0SQM |
|
Purchase Date |
2014/10/08 |
Purchase price |
R 6300000.00 |
|
% Ownership |
0.00 |
Bond Holder |
FIRSTRAND BANK LTD |
|
Bond Number |
B91312015 |
Bond Amount |
R 4725000.00 |
|
Comment |
|
||
FINANCIAL ESTIMATES
|
CURRENT ASSETS |
|
|
Stock |
R 20000000.00 |
|
Debtors |
R150000000.00 |
|
FIXED ASSETS |
R1300000.00 |
|
Plant, Equipment,
Vehicles |
R 6000000.00 |
|
Property |
R 7000000.00 |
|
CURRENT LIABILITIES |
R 2000000.00 |
|
Creditors |
R 20000000.00 |
|
Loans/ From? |
R160515.00 |
|
Loan Details |
|
|
LONG TERM LIABILITIES |
|
|
Morgage Bonds |
R 4500000.00 |
|
Previous Year Turnover |
R 643017061.00 |
|
Estimated Current Year
Turnover |
R 900000000.00 |
|
Current Turnover per
month |
R 40000000.00 |
|
Current Turnover per
annum |
R 900000000.00 |
|
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 |
1 |
|
Average
Age of Active Principals |
25 |
|
Number
of Inactive Principals |
|
|
Active Principals Active Principal -
1 of 1 ARNAV JHUNJHUNWALA |
|
|
Surname |
JHUNJHUNWALA |
|
First
Name |
ARNAV |
|
Other
Names |
|
|
Marital
Status |
Single |
|
ID
Number |
Z2962740 |
|
Verified
ID Number |
No |
|
Current
Age |
24
Years 6 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2012/07/10 |
|
Physical
Address (at time of Appointment) |
10/4
ALIPORE PARK PLACE, KOLKATA 700 027, INDIA, 0000 |
|
Postal
Address |
311
BCND, 2ND FLOOR DLF SOUTH COURT SAKET, NEW DELHI 110 017, INDIA, 0000 |
|
Current
Tel Number |
0112345230 |
|
Cell
number |
0786396197 |
|
Shareholding/Membership |
100% |
PRINCIPAL'S
ADVERSE - NO INFORMATION ON RECORD
BUSINESS
INFORMATION FOR ARNAV JHUNJHUNWALA
PRINCIPAL CURRENT
BUSINESS INTERESTS
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
ARCTOCEL
(PTY)LTD |
M2010/006739/07 |
In
Business |
5
Years |
0 |
No |
|
PRINCIPAL'S PREVIOUS
BUSINESS INTERESTS - NO INFORMATION ON RECORD
PRINCIPAL'S DEEDS
INFORMATION - NO INFORMATION ON RECORD
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.91.06 |
|
Euro |
1 |
Rs.66.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
ANK |
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.