MIRA INFORM REPORT
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Report No. : |
352298 |
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Report Date : |
08.12.2015 |
IDENTIFICATION DETAILS
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Name : |
NATAL IRON AND BRASS FOUNDRY CC |
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Registered Office : |
5 Hayworth Road Mkondeni Pietermaritzburg, Kwa Zulu-Natal 3201 |
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Country : |
South Africa |
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Date of Incorporation : |
17.08.1987 |
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Com. Reg. No.: |
1987/018590/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
The subject is involved in the manufacturing of manhole covers and
frames. |
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No. of Employee : |
12 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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South Africa |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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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 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.
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Source
: CIA |
GENERAL COMMENTS
This is a well-established family owned and run business which is meeting
its one obtainable commitment timeously. The subject is considered equal to its
normal business engagements, however, should larger dealings be sought, it is
suggested that they be fully secured in view of the lack of financial
information.
COMPANY INFORMATION
OVERVIEW
|
History |
NATAL IRON AND BRASS FOUNDRY CC was
established in August 1987. |
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Major Operations or Business Sectors |
The subject is involved in the
manufacturing of manhole covers and frames. |
|
Industry |
Manufacturing of manhole covers. |
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SIC Code(s) |
3541(Manufacture Of Structural Metal
Products) |
STATUTORY
INFORMATION
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Registered Name |
NATAL
IRON AND BRASS FOUNDRY CC |
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Registration Number |
1987/018590/23 |
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Type of Company |
Close Corporation (CC) |
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Registration Date |
17/08/1987 |
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Date Commenced Trading |
17/08/1987 |
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Commercial Status |
In Business |
CONTACT
DETAILS
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Contact Number |
+27 33 386 6572 |
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Fax Number |
+27 33 386 7001 |
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Website |
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Social Media Presence |
No social media presence located. |
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Registered Physical Address |
5 Hayworth Road Mkondeni PIETERMARITZBURG KwaZulu-Natal 3201 |
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Trading Physical Address |
5 Hayworth Road Mkondeni PIETERMARITZBURG Kwa-Zulu-Natal 3201 |
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Postal Address |
P O Box 247 LUXMI KwaZulu-Natal 3207 |
TAX
INFORMATION
Income Tax no. 9440065218
VAT No. 4310105855
AUDITORS
INFORMATION 
Name PRICEWATERHOUSECOOPERS INC
Contact Person The
respondent deals with a number of auditors at PWC.
INSURANCE
BROKER INFORMATION
Insurance Broker Name
Contact Person
Not forthcoming.
OWNERSHIP STRUCTURE
|
Shareholders/Members |
Share/Interest (%) |
|
S RAJKUMAR |
50 |
|
R RAJKUMAR |
50 |
PRINCIPAL INFORMATION
PRINCIPAL DETAILS
|
Full Name |
ID No. |
Designation |
Status |
Date of Appoint- ment |
Active Interests |
Prev. Interests |
Judg- ments |
Fraud Listing |
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RAJKUMAR, RISHAL |
8210065297084 |
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Active |
21/09/2007 |
4 |
0 |
0 |
0 |
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RAJKUMAR, SAMALL |
7302015102083 |
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Active |
21/09/2007 |
4 |
0 |
0 |
0 |
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RAJKUMAR, KHAJADAR |
4904025086058 |
Invalid Code |
Decease d |
17/08/1987 |
0 |
0 |
0 |
0 |
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RAJKUMAR, SHANTHIE |
4904060156055 |
Invalid Code |
Resigned |
28/01/1998 |
0 |
0 |
0 |
0 |
ACTIVE BUSINESS INTERESTS: RISHAL RAJKUMAR
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Company Name |
Registration No. |
Business Status |
Principle Status |
Judgments |
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CAST IRON INDUSTRIES |
1998/008011/23 |
In Business |
Active |
0 |
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HAYWORTH ROAD PROPERTIES |
1991/004051/23 |
In Business |
Active |
0 |
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LIGHTING IMAGE |
1992/006458/23 |
In Business |
Active |
0 |
ACTIVE BUSINESS INTERESTS: SAMALL
RAJKUMAR
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Company Name |
Registration No. |
Business Status |
Principle Status |
Judgments |
|
CAST IRON INDUSTRIES |
1998/008011/23 |
In Business |
Active |
0 |
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HAYWORTH ROAD PROPERTIES |
1991/004051/23 |
In Business |
Active |
0 |
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LIGHTING IMAGE |
1992/006458/23 |
In Business |
Active |
0 |
BANK
ACCOUNT VERIFICATION
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Verified |
No |
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Bank Name |
NEDBANK |
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Account Holder |
NATAL IRON AND BRASS FOUNDRY CC |
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Account Number |
Declined |
OPERATIONS
MAJOR OPERATIONS
|
Major Business Activities |
The subject is involved in the manufacturing of manhole covers and
frames. |
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Foreign Trade Activities |
The subject neither imports nor exports. |
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Major Suppliers |
The subject sources supplies from the following companies: SAFFER INCLEDON PLUMBLINK SIZABANTU |
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Major Customers |
The subject supplies to the plumbing industry. |
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Major Brands |
Not applicable. |
BRANCH
INFORMATION
Area of Distribution South
Africa
PREMISES
EMPLOYEES
Salaried Employees 12
Total Permanent Employees 12
GENERAL COMMENTS
PREMISES: The premises are reported to be owned by the members in their personal capacities, free of bond.
COMPANY
FLEET
Total Vehicles 2
Fleet operations –
This Fleet is Made Up of: --
Light Delivery Vehicles 2
FINANCING
TERMS
Sales Terms 30 days,
Overdraft It was stated that the subject does not require overdraft facilities at the subject, however, further banking information was declined.
Date Obtained 26/11/2015
Year End FEBRUARY
GENERAL COMMENTS
Further details not made available
FINANCIAL
FIGURES
|
Actual numbers, 000' or mio Actual
Numbers |
|
Source Sheista Hoosen - Office Manager |
COMMENT
Full financial information was declined by
respondents at the subject and outside authorities were unable to assist in
this regard.
TRADE
REFERENCES
TRADE REFERENCE ANALYTICS
|
# of Trade Refs in the last 3 years |
Overall Trade Score |
Average Usage of Terms |
Average Monthly Purchase |
Average Usage of Credit Limit |
|
4 |
100% |
100% |
70,000.00 ZAR |
0% |
TRADE REFERENCES
|
Trade Ref # |
Date |
Trade Score 2 = best 0 = worst |
Terms Given (Taken) in days |
Monthly Limit Given (Taken) |
Account Opened years |
Payment Trend (prev. 3 years) |
Acc. Insured |
Notes |
||
|
Ref 1 |
01/12/2015 |
2 |
30 (30) |
Declined (70,000 ZAR) |
3 |
2 |
- |
- |
Unknown |
Excellent account. |
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Ref 2 |
26/11/2015 |
N/A |
see notes (see notes) |
() |
|
- |
- |
- |
Unknown |
It is against company policy to divulge trade reference information. |
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Ref 3 |
26/11/2015 |
N/A |
see notes (see notes) |
() |
|
- |
- |
- |
Unknown |
It is against company policy to divulge trade reference information. |
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Ref 4 |
26/11/2015 |
N/A |
see notes (see notes) |
() |
|
- |
- |
- |
Unknown |
Unable to obtain. Can't trace account. |
GENERAL COMMENTS
Comments
The respondent declined to assist with any further supplier details.
ADMIN
DETAILS
INTERVIEWER
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Researcher |
Inoxico |
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Contact Tel No. |
+27 10 001 0540 |
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Email |
INTERVIEWEE
|
Contact Person Sheista Hoosen |
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Position |
Office Manager |
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Company Tel No. |
+27 33 386 6572 |
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Email |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.63 |
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|
1 |
Rs.100.65 |
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Euro |
1 |
Rs.72.40 |
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ZAR |
1 |
Rs. 4.60 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
ASH |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.