|
Report No. : |
308243 |
|
Report Date : |
18.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
VERULAM WHOLESALE
PREPACKERS CC |
|
|
|
|
Registered Office : |
163 Wick Street, Verulam, Kwazulu Natal, 4340 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
17.07.2000 |
|
|
|
|
Com. Reg. No.: |
B2000/040748/23 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
· subject operates as an importer and distributor of grains and spices · Engaged as Wholesale trader of foodstuffs [NOTE: We tried to confirm / obtain the detailed activity but the same is not available from any sources.] |
|
|
|
|
No of Employees : |
55 |
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 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 |
VERULAM WHOLESALE PREPACKERS CC |
|
Country |
South Africa |
|
Subject Contact Person |
MUHAMMED - ACCOUNTANT |
|
Assessment |
On investigation contact was made with MUHAMMED the accountant, who
assisted with information. This is a well-established business meeting commitment within terms
with suppliers. Please see the available information below. |
|
Registered Name |
VERULAM WHOLESALE PREPACKERS CC |
|
Trading as/ Division Name |
VERULAM WHOLESALERS |
|
Previous Name |
None |
|
Date of Name Change |
None |
|
Registration Number |
B2000/040748/23 |
|
Registration Date |
2000/07/17 |
|
Date Commenced Trading |
2000-07-17 |
|
Age of Business |
14 Years 7 Months |
|
History of Business |
The subject was established in 2000 and has been trading ever since. |
|
History of Principals |
There are 7 active members within the business. |
|
Shareholders/Members/Partners of subject and % holding |
10% - BIBI ASMA BADAT 12.50% - HAWA BIBI AMOD BADAT27.50% - ISMAIL
BADAT 20%o - MUHAMMED ISMAIL BADAT 10°% - SAFFIYA BADAT 10°% - HUMERA PATEL 10% - FATHIMA VAHED |
|
Status |
In Business |
|
Operations Assessment |
The subject operates as an importer and distributor of grains and
spices. |
|
Industry/ Customers |
The subject supplies to wholesalers and to the general public. |
|
Export |
Yes |
|
Import |
Yes |
|
Major Industry Code / SICC |
61221 |
|
Definition of Code |
Wholesale trade in foodstuffs |
|
Head Office Physical Address |
163 WICK STREET,VERULAM,KWAZULU NATAL,4340 |
|
Head Office Postal Address |
163 WICK STREET,VERULAM,KWAZULU NATAL,4340 |
|
Current Tel Number |
0325337024 |
|
Cell Number |
0836578618 |
|
Current Fax Number |
0325337023 |
|
Current Email Address |
|
|
Web Site Address |
None |
|
Company Registered Name |
KHAN SALEJEE AND COMPANY |
|
Trading Name |
KHAN SALEJEE AND CO |
|
Physical Address |
125 VAUSE ROAD,BEREA,DURBAN,4001 |
|
Postal Address |
PO BOX 50352,MUSGRAVE,DURBAN,4062 |
|
Contact Person |
KHAN |
|
Contact Number |
0312010577 |
|
Email |
|
|
Principals |
1 |
|
Judgements Against Subject |
Unavailable |
|
Judgements Against Principals |
Unavailable |
|
Subject Verified as Client |
Yes |
|
Practice Number |
910627E |
|
VAT Number |
Unavailable |
|
Tax Number |
Unavailable |
|
BEE Status |
Unavailable |
|
Financial Year End |
Unavailable |
|
No of years in Business |
Unavailable |
|
Website |
None |
Previous Auditors Information - No Information on Record
|
Vat Number |
4250189349 |
|
Vat Liable Date |
2014/10/17 |
|
Tax Number |
9018086141 |
|
Financial Year End |
February |
|
Status |
No |
|
Comment |
The subject is in the process of registering for BEE. |
ISO Information - No Information on Record
|
Registered |
Yes |
|
Compliance Certified |
Yes |
Subsidiaries Information - No Information on Record
Employees
|
Number of Employees |
55 |
|
1. Salaried employees |
55 |
|
2. Waged employees |
0 |
|
3. Permanent employees |
55 |
|
4. Casual employees |
0 |
|
5. Contracted employees |
0 |
|
The Fleet is made up of |
24 |
|||
|
Cars |
4 |
Owned |
|
|
|
Light delivery Vehicles |
4 |
Owned |
|
|
|
Trailers |
2 |
Owned |
|
|
|
Trucks |
14 |
Owned |
|
|
|
Offices |
Offices |
|
Head Office Owned/ Rented |
Leased |
|
Rental Company |
ISMAIL BADAT FAMILY TRUST |
|
Type of Premises |
Office, warehouse and factory |
Branch Information - No Information on Record
Organisation Chart
|
Level |
Position |
Name |
|
1 |
Member |
BIBI ASMA BADAT |
|
1 |
Member |
HAWA BIBI AMOD BADAT |
|
1 |
Member |
ISMAIL BADAT |
|
1 |
Member |
MUHAMMED ISMAIL BADAT |
|
1 |
Member |
SAFFIYA BADAT |
|
1 |
Member |
HUMERA PATEL |
|
1 |
Member |
FATHIMA VAHED |
Company Structure (Ownership)
Note: One level up and all levels down
|
Holding |
Company |
|
10% - BIBI ASMA BADAT |
VERULAM WHOLESALE PREPACKERS CC |
|
12.50% - HAWA BIBI AMOD BADAT |
VERULAM WHOLESALE PREPACKERS CC |
|
27.50% - ISMAIL BADAT |
VERULAM WHOLESALE PREPACKERS CC |
|
20% - MUHAMMED ISMAIL BADAT |
VERULAM WHOLESALE PREPACKERS CC |
|
10% - SAFFIYA BADAT |
VERULAM WHOLESALE PREPACKERS CC |
|
10% - HUMERA PATEL |
VERULAM WHOLESALE PREPACKERS CC |
|
10% - FATHIMA VAHED |
VERULAM WHOLESALE PREPACKERS CC |
Key Deals - No Information on Record
|
Trade Reference nr |
Supplier |
Contact |
Comment |
|
1 |
SUPERB CASH & CARRY |
0325511234 |
|
|
2 |
SAVE CASH & CARRY |
0333471632 |
|
|
3 |
DLA GRAINS |
0315027441 |
The supplier declined to provide a trade reference as per company
policy. |
|
4 |
AH GROCER |
0313054825 |
|
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
7 Years |
R 500000.00 |
R 300000 |
30 Days |
R 200000 -300000 |
30 Days |
This is a very good account. |
|
2 |
5 Years |
R 15000000.00 |
R1000000 |
30 Days |
R 132000 -500000 |
30 Days |
This is a good account. |
|
3 |
|
|
|
|
|
|
|
|
4 |
14 Years |
|
R 250000 |
60 Days |
R 200000 -250000 |
60 Days |
This is a very good account. The subject has an open account with the supplier. |
Judgements - No information on record
Business Rescue - No Information on Record
Default Listing - No information on record
Notarial bonds –
no information on record
|
Bank |
HBZ BANK |
|
Branch |
GREY STREET DURBAN |
|
Brach Code |
570105 |
|
Bank Account Number |
11901104722 |
|
Type of Account |
CHEQUE |
|
Account Name |
VERULAM WHOLESALE PREPACKERS CC |
|
Overdraft Facilities |
NO |
|
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
|
Number of Principals |
7 |
|
Average Age of Active Principals |
47 |
Active Principals Active Principal - 1 of 7 BIBI BADAT
|
Surname |
BADAT |
|
First Name |
BIBI |
|
Other Names |
ASMA |
|
ID Number |
7206280122058 |
|
Verified ID Number |
No |
|
Current Age |
42 Years 8 Months |
|
Designation |
MEMBER |
|
Status |
Active |
|
Appointment Date |
2000/07/17 |
|
Physical Address (at time of Appointment) |
5 GROOM STREET, VERULAM, 4340 |
|
Postal Address |
5 GROOM STREET, VERULAM, 4340 |
|
Current Tel Number |
0325337024 |
|
Shareholding/Membership |
10% |
Principal's Adverse -
No information on record
Business Information for BIBI BADAT
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
|
VERULAM WHOLESALE PREPACKERS CC |
B2000/040748/23 |
In Business |
15 Years 3 Months |
Principal's Previous Business Interests - No information on record
Active Principal - 2 of 7 HAWA BADAT
|
Surname |
BADAT |
|
First Name |
HAWA |
|
Other Names |
BIBI AMOD |
|
ID Number |
5108220076083 |
|
Verified ID Number |
Yes |
|
Current Age |
63 Years 6 Months |
|
Designation |
MEMBER |
|
Status |
Active |
|
Appointment Date |
2000/07/17 |
|
Physical Address (at time of Appointment) |
5 GROOM STREET, VERULAM, 4340 |
|
Postal Address |
5 GROOM STREET, VERULAM, 4340 |
|
Current Tel Number |
0325337024 |
|
Shareholding/Membership |
12.50% |
Principal's Adverse -
No information on record
Business Information for HAWA BADAT
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
VERULAM WHOLESALE PREPACKERS CC |
B2000/040748/23 |
In Business |
15 Years 3 Months |
0 |
No |
|
Principal's Previous Business Interests - No information on record
Active Principal - 3 of 7 ISMAIL BADAT
|
Surname |
BADAT |
|
First Name |
ISMAIL |
|
ID Number |
4505125097083 |
|
Verified ID Number |
Yes |
|
Current Age |
Unknown |
|
Designation |
MEMBER |
|
Status |
Active |
|
Appointment Date |
2000/07/17 |
|
Physical Address (at time of Appointment) |
5 GROOM STREET, VERULAM, 4340 |
|
Postal Address |
5 GROOM STREET, VERULAM, 4340 |
|
Current Tel Number |
0325337024 |
|
Shareholding/Membership |
27.50% |
Principal's Adverse -
No information on record
Business Information for ISMAIL BADAT
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
|
VERULAM IMPORTERS AND WHOLESALERS CC |
B2007/175627/23 |
Deregistration Process |
8 Years 8 Months |
|
VERULAM WHOLESALE PREPACKERS CC |
B2000/040748/23 |
In Business |
15 Years 3 Months |
Principal's Previous Business Interests - No information on record
Active Principal - 4 of 7 MUHAMMED BADAT
|
Surname |
BADAT |
|
First Name |
MUHAMMED |
|
Other Names |
ISMAIL |
|
ID Number |
8107225138085 |
|
Verified ID Number |
Yes |
|
Current Age |
33 Years 7 Months |
|
Designation |
MEMBER |
|
Status |
Active |
|
Appointment Date |
2000/07/17 |
|
Physical Address (at time of Appointment) |
5 GROOM STREET, VERULAM, 4340 |
|
Postal Address |
5 GROOM STREET, VERULAM, 4340 |
|
Current Tel Number |
0325337024 |
|
Shareholding/Membership |
20% |
Principal's Adverse -
No information on record
Business Information for MUHAMMED BADAT
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
|
VERULAM WHOLESALE PREPACKERS CC |
B2000/040748/23 |
In Business |
15 Years 3 Months |
Principal's Previous Business Interests - No information on record
Active Principal - 5 of 7 SAFFIYA BAYAT
|
Surname |
BAYAT |
|
First Name |
SAFFIYA |
|
ID Number |
7902220058085 |
|
Verified ID Number |
Yes |
|
Current Age |
36 Years |
|
Designation |
MEMBER |
|
Status |
Active |
|
Appointment Date |
2000/07/17 |
|
Physical Address (at time of Appointment) |
6 GROOM STREET, VERULAM, 4340 |
|
Postal Address |
6 GROOM STREET, VERULAM, 4340 |
|
Current Tel Number |
0325337024 |
|
Shareholding/Membership |
10% |
Principal's Adverse -
No information on record
Business Information for SAFFIYA BAYAT
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
|
VERULAM WHOLESALE PREPACKERS CC |
B2000/040748/23 |
In Business |
15 Years 3 Months |
Principal's Previous Business Interests - No information on record
Principal Deeds Information
Property Interests
for SAFFIYA BAYAT
|
Title Deed No. |
T2850/2001 |
Erf/Site No. |
668 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
13 DICK KING ISIPINGO BEACH ISIPINGO BEACH |
|
Property Type |
E |
Extent / Size |
|
|
Purchase Date |
2001/01/11 |
Purchase price |
R 240000.00 |
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
---- |
Bond Amount |
R 0.00 |
Active Principal - 6 of 7 HUMERA PATEL
|
Surname |
PATEL |
|
First Name |
HUMERA |
|
ID Number |
7105300002086 |
|
Verified ID Number |
Yes |
|
Current Age |
43 Years 9 Months |
|
Designation |
MEMBER |
|
Status |
Active |
|
Appointment Date |
2000/07/17 |
|
Physical Address (at time of Appointment) |
5 GROOM STREET, VERULAM, 4340 |
|
Postal Address |
5 GROOM STREET, VERULAM, 4340 |
|
Current Tel Number |
0325337024 |
|
Shareholding/Membership |
10% |
Principal's Adverse -
No information on record
Business Information for HUMERA PATEL Principal Current Business
Interests
|
Company Name |
Registration No |
Status |
Age of Business |
|
VERULAM WHOLESALE PREPACKERS CC |
B2000/040748/23 |
In Business |
15 Years 3 Months |
Principal's Previous Business Interests - No information on record
Principal Deeds Information
Property Interests
for HUMERA PATEL
|
Title Deed No. |
T2850/2001 |
Erf/Site No. |
668 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
34 INNERCIRCUIT ISIPINGO |
|
Property Type |
F |
Extent / Size |
868.00000000 |
|
Purchase Date |
2000/09/18 |
Purchase price |
R 240000.00 |
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
R 0.00 |
Property Interests
for HUMERA PATEL
|
Title Deed No. |
T2850/2001 |
Erf/Site No. |
668 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
13 DICK KING ISIPINGO BEACH ISIPINGO BEACH |
|
Property Type |
E |
Extent / Size |
----- |
|
Purchase Date |
2001/01/11 |
Purchase price |
R 240000.00 |
|
% Ownership |
0.00 |
Bond Holder |
----- |
|
Bond Number |
----- |
Bond Amount |
R 0.00 |
Active Principal - 7 of 7 FATHIMA VAHED
|
Surname |
VAHED |
|
First Name |
FATHIMA |
|
ID Number |
7502120053085 |
|
Verified ID Number |
Yes |
|
Current Age |
40 Years |
|
Designation |
MEMBER |
|
Status |
Active |
|
Appointment Date |
2000/07/17 |
|
Physical Address (at time of Appointment) |
5 GROOM STREET, VERULAM, 4340 |
|
Postal Address |
5 GROOM STREET, VERULAM, 4340 |
|
Current Tel Number |
0325337024 |
|
Shareholding/Membership |
10% |
Principal's Adverse -
No information on record
Business Information for FATHIMA VAHED
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
|
VERULAM WHOLESALE PREPACKERS CC |
B2000/040748/23 |
In Business |
15 Years 3 Months |
Principal's Previous Business Interests - No information on record
Principal Deeds Information
Property Interests
for FATHIMA VAHED
|
Title Deed No. |
ST23867/2014 |
Erf/Site No. |
245 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
BRICKFIELD |
|
Property Type |
U |
Extent / Size |
43.0SQM |
|
Purchase Date |
2012/11/14 |
Purchase price |
R 320000.00 |
|
% Ownership |
0.00 |
Bond Holder |
----- |
|
Bond Number |
----- |
Bond Amount |
R 0.00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.20 |
|
UK Pound |
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MNL |
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.