MIRA INFORM REPORT
|
Report No. : |
348310 |
|
Report Date : |
01.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
MACSTEEL INTERNATIONAL SOUTH AFRICA (PTY) LTD |
|
|
|
|
Formerly Known As : |
6th
Floor Atholl Towers 129 Patricia Road Sandton Gauteng 2031 |
|
|
|
|
Registered Office : |
South African Steel Exporters |
|
|
|
|
Country : |
South Africa |
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|
|
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Date of Incorporation : |
20.10.1975 |
|
|
|
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Com. Reg. No.: |
1975/003705/07 |
|
|
|
|
Legal Form : |
Private Company (Pty)
Ltd |
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|
|
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Line of Business : |
Subject is engaged in export of steel. |
|
|
|
|
No. of Employee : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Dormant |
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|
|
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Payment Behaviour : |
-- |
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|
|
|
Litigation : |
-- |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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. Economic growth has decelerated in recent years, slowing to just 1.5% in 2014. 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, is building three new power stations and is installing 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 and early 2015 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 electrical supply problems are resolved.
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 due to strike action. The current government faces growing pressure from urban constituencies to improve the delivery of basic services to low-income areas and to increase job growth.
|
Source
: CIA |
COMPANY INFORMATION
OVERVIEW
|
History |
MACSTEEL INTERNATIONAL SOUTH AFRICA (PTY) LTD was
originally established in October 1975 as SOUTH AFRICAN STEEL EXPORTERS (PTY)
LTD, as a newly registered entity and commenced operations immediately.
The subject changed its name to the current name on 22 May 1996. Subsequent to the 5 year group restructure which took
place in the MacSteel International group all the operations of MacSteel
International South Africa (Pty) Ltd were transferred to MacSteel
International Holdings BV in the Netherlands. The entity subsequently became a property holding company,
holding the property owned by the group, viz 197 Rivonia Road. This property
was sold, the sale being effective from November 2014 at which date MACSTEEL
INTERNATIONAL SOUTH AFRICA (PTY) LTD became dormant. The entity is still a
wholly owned subsidiary of MacSteel International Holdings BV - Netherlands. During the restructuring process, the export operation was
all transferred to the offices of Macsteel International Holding BV in Dubai. |
|
Major Operations or
Business Sectors |
The subject was involved in the export of steel. To date they
are South African operation is MACSTEEL INTERNATIONAL BUSINESS SUPPORT
SERVICES(PTY) LTD (Registration Certificate Number:1951/0020807) which is
only involved in offering Accounting and IT support for the global group and
is not involved in any direct trading |
STATUTORY INFORMATION
|
Registered Name |
MACSTEEL INTERNATIONAL SOUTH AFRICA (PTY)
LTD |
|
|
Previous Names |
SOUTH AFRICAN STEEL EXPORTERS (1996/05/22); |
|
|
Registration Number |
1975/003705/07 |
|
|
Type of Company |
Private Company (Pty) Ltd |
|
|
Registration Date |
20/10/1975 |
|
CONTACT DETAILS
|
Contact Number +27 11 302 0000 |
|
|
Fax Number +27 11 302 0171 |
|
|
Social Media Presence |
|
|
Registered Physical Address |
6TH FLOOR ATHOLL TOWERS 129 PATRICIA ROAD SANDTON GAUTENG 2031 |
|
Trading Physical Address |
187 Rivonia Road MORNINGSIDE Johannesburg Gauteng |
|
Postal Address |
P O Box 8370 JOHANNESBURG 2000 2000 |
TAX INFORMATION
|
Vat Number |
4130159520 |
GENERAL COMMENTS
On investigation contact was made with the
respondent at the subject who stated that MACSTEEL INTERNATIONAL SOUTH AFRICA
(PTY) LTD is dormant. The subject was transferred to MACSTEEL INTERNATIONAL
HOLDINGS BV based in the Netherlands. The entity subsequently became a property
holding company, holding the property owned by the group, viz 197 Rivonia Road.
This property was sold, the sale being effective from November 2014.
During the restructuring process, the export
operation was all transferred to the offices of MACSTEEL INTERNATIONAL BV based
in Dubai.
OWNERSHIP STRUCTURE
PRINCIPAL INFORMATION PRINCIPAL DETAILS
|
Full Name |
ID No. |
Designation |
Status |
Date of Appoint-
ment |
Active Interests |
Prev. Interests |
Judg- ments |
Fraud Listing |
|
VIVIERS,
JOHANNES ANDRIAS |
8312135130087 |
|
Active |
11/10/2013 |
2 |
0 |
0 |
0 |
|
VAN
NIEKERK, LOUIS LOURENS |
5001195076081 |
|
Active |
11/10/2013 |
6 |
8 |
0 |
0 |
|
MACKENZIE-
WRIGHT, HEATHER LOUISE |
7812250201085 |
|
Active |
01/05/2014 |
2 |
0 |
0 |
0 |
|
MORGAN,
RICAHARD SYDNEY |
5101175604082 |
|
Resigned |
01/06/2005 |
0 |
0 |
0 |
0 |
|
AUSTIN,
DAVID ALAN |
5712135233109 |
|
Resigned |
18/05/2007 |
0 |
0 |
0 |
0 |
|
KRUGER,
WILLEM ADRIAAN |
6307265111081 |
Director |
Resigned |
28/03/2013 |
0 |
0 |
0 |
0 |
|
WESSELS,
WILLEM JOHANNES |
7501175008085 |
|
Resigned |
27/11/2006 |
0 |
0 |
0 |
0 |
|
BOSCH,
JAN GEORGE |
5504165026085 |
|
Resigned |
01/06/2005 |
0 |
0 |
0 |
0 |
|
PURPURA,
SALVATORE ANTHONY |
420374713 |
|
Resigned |
31/07/2010 |
2 |
1 |
0 |
0 |
|
PADAYACHEE,
CHRISTOPHER VADIVEL |
4908155110083 |
|
Resigned |
01/06/2005 |
0 |
0 |
0 |
0 |
|
JONES,
PETER CHARLES HOWARD |
4808190000000 |
Director |
Resigned |
01/11/1996 |
1 |
2 |
0 |
0 |
|
FACEY,
STEPHEN JOHN |
6102020000000 |
Director |
Resigned |
01/11/1996 |
0 |
1 |
0 |
0 |
|
PRICE,
LEON WILLIAM |
5103115086081 |
Director |
Resigned |
25/02/1997 |
0 |
0 |
0 |
0 |
|
SATHEKGE,
MULITI JOSEPH |
7003235531081 |
|
Resigned |
18/05/2007 |
0 |
0 |
0 |
0 |
|
WEENINK,
LYNNETTE |
6712060018086 |
|
Resigned |
01/06/2005 |
0 |
0 |
0 |
0 |
|
WILSON,
MICHAEL BRIAN |
7005305060081 |
|
Resigned |
01/06/2005 |
0 |
0 |
0 |
0 |
|
FLETCHER,
GARRICK |
4706280000000 |
|
Resigned |
14/06/1999 |
6 |
6 |
0 |
0 |
|
CLAASSEN,
SAREL PETRUS DU PLESSIS |
5907075096082 |
|
Resigned |
01/06/2005 |
0 |
0 |
0 |
0 |
|
LARCOMBE,
PETER JAMES |
4709285111102 |
|
Resigned |
01/10/1999 |
0 |
0 |
0 |
0 |
|
PIETERSE,
WILLEM JACOBUS |
6605285089084 |
|
Resigned |
01/06/2005 |
0 |
2 |
0 |
0 |
|
GREYLING,
JAN CHRISTOPHER |
6811015181088 |
|
Resigned |
14/06/1999 |
0 |
0 |
0 |
0 |
ACTIVE BUSINESS INTERESTS: HEATHER LOUISE MACKENZIE-WRIGHT %20LTD%20-%20348310%2001-Dec-2015_files/image010.jpg)
|
Company
Name |
Registration
No. |
Business
Status |
Principle
Status |
Judgments |
|
|
MACSTEEL INTERNATIONAL BUSINESS SUPPORT
SERVICES |
1951/002089/07 |
In Business |
Active |
0 |
|
ACTIVE BUSINESS INTERESTS: JOHANNES ANDRIAS VIVIERS
|
Company
Name |
Registration
No. |
Business
Status |
Principle
Status |
Judgments |
|
|
MACSTEEL INTERNATIONAL BUSINESS SUPPORT
SERVICES |
1951/002089/07 |
In Business |
Active |
0 |
|
ACTIVE BUSINESS INTERESTS: LOUIS LOURENS VAN NIEKERK
|
Company
Name |
Registration
No. |
Business
Status |
Principle
Status |
Judgments |
|
|
ERF 1054 DAINFERN |
2002/016327/07 |
In Business |
Active |
0 |
|
|
ERF 1054 DAINFERN |
1995/048907/23 |
Conversion CO/CC or CC/CO |
Active |
0 |
|
|
MACSTEEL HOLDINGS |
1966/011321/07 |
In Business |
Active |
0 |
|
|
MACSTEEL SERVICE CENTRES SA |
2005/016292/07 |
In Business |
Active |
1 |
|
|
SUPRACHEM |
1974/003109/07 |
Deregistration Final |
Active |
0 |
|
%20LTD%20-%20348310%2001-Dec-2015_files/image011.jpg){kind=small}
PREVIOUS BUSINESS INTERESTS: LOUIS LOURENS VAN NIEKERK
|
Company
Name |
Registration
No. |
Business
Status |
Principle
Status |
Judgments |
|
|
AFRICAN OXYGEN |
1927/000089/06 |
In Business |
Resigned |
0 |
|
|
ARCELORMITTAL SOUTH AFRICA |
1989/002164/06 |
In Business |
Resigned |
0 |
|
|
FOSKOR |
1951/002918/07 |
In Business |
Resigned |
0 |
|
|
IRON MINERAL BENEFICIATION SERVICES |
2006/002533/07 |
In Business |
Resigned |
0 |
|
|
MSCSA INVESTMENTS |
1956/002295/07 |
In Business |
Resigned |
0 |
|
|
NDONSA INVESTMENTS |
2004/030015/07 |
AR Deregistration Process |
Resigned |
0 |
|
|
ROBOR |
2006/001412/07 |
In Business |
Resigned |
0 |
|
|
STEEL AND ENGINEERING INDUSTRIES FEDERATION OF SOUTHERN AFRICA |
1949/034221/08 |
In Business |
Resigned |
0 |
|
BANK ACCOUNT
VERIFICATION
OPERATIONS
MAJOR OPERATIONS
BRANCH
INFORMATION
PREMISES
|
Other Premises |
None |
|
Other Premises
Rented or Owned |
The premises are reported to be leased by the group
company |
EMPLOYEES
|
Salaried Employees |
0 |
|
|
Waged Employees |
0 |
|
|
Total Permanent Employees |
0 |
|
|
Casual Employees |
0 |
|
|
0 |
|
FINANCING TERMS
|
Year end |
December |
FINANCIAL FIGURES
ADMIN DETAILS
|
Researcher |
Inoxico |
|
|
Contact Tel No. |
+27 10 001 0540 |
|
|
Email |
|
LEGEND
%20LTD%20-%20348310%2001-Dec-2015_files/image012.gif)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.81 |
|
|
1 |
Rs.100.37 |
|
Euro |
1 |
Rs.70.68 |
|
ZAR |
1 |
Rs.4.62 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TRU |
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.