|
Report No. : |
303612 |
|
Report Date : |
17.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
ORO AFRICA
(PTY) LTD |
|
|
|
|
Registered Office : |
170
Buitengracht Street, Cape Town, 8001 P
O Box 16552, Vlaeberg, 8018 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
23.04.1998 |
|
|
|
|
Com. Reg. No.: |
M1998/007629/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
The
subject operates as a manufacture and wholesalers of jewelry |
|
|
|
|
No. of Employees : |
60 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 |
ORO AFRICA (PTY) LTD |
|
Country |
South Africa |
|
Subject Contact Person |
CHARL CRONJE - FINANCIAL MANAGER |
|
Assessment |
This is an established business. On investigation contact
was made with CHARL CRONJE the financial manager. The subject is meeting commitments
timeously with suppliers. We obtained a bank code C for R 2 000 000 over a
period of 30 days. Please see the available information on the subject below. |
|
Registered Name |
ORO AFRICA (PTY)LTD |
|
Trading as/ Division Name |
ORO AFRICA |
|
Previous Name |
None |
|
Date of Name Change |
None |
|
Registration Number |
M1998/007629/07 |
|
Registration Date |
1998/04/23 |
|
Date Commenced Trading |
1998-04-23 |
|
Age of Business |
16 Years 4 Months |
|
History of Business |
The subject commenced trading as a new company in 1998. |
|
History of Principals |
There are 4 active directors within the company. |
|
Shareholders/Members/Partners of subject and % holding |
100 % - ORO GROUP |
|
Authorised Share Capital |
|
|
Issued Share Capital/Members Contribution |
|
|
Status |
In Business |
|
Operations Assessment |
The subject operates as a manufacture and wholesalers of
jewelry |
|
Industry/ Customers |
The private sector |
|
Export |
Yes |
|
Export Countries |
China,Italy |
|
Import |
Yes |
|
Import Countries |
India |
|
Major Industry Code / SICC |
39211 |
|
Definition of Code |
Jewellery and related articles of precious and semiprecious
compounts |
|
Head Office Physical Address |
170 BUITENGRACHT STREET, CAPE TOWN, 8001 |
|
Head Office Postal Address |
P O BOX 16552, VLAEBERG, 8018 |
|
Current Tel Number |
0214809860 |
|
Cell Number |
|
|
Current Fax Number |
0214264140 |
|
Current Email Address |
|
|
Web Site Address |
|
|
Comments |
- |
|
Company Registered Name |
GRANT THORNTON ASSOCIATES |
|
Trading Name |
None |
|
Registration Number |
PARTNERSHIP |
|
Physical Address |
6th Floor, 119 Hertzog Boulevard, Foreshore, CAPE TOWN,
8001 |
|
Postal Address |
PO BOX 7489, ROGGEBAAI, 8012 |
|
Contact Person |
BRADLEY JACKSON |
|
Contact Number |
0214178804 |
|
Email |
|
|
Principals |
|
|
Judgements Against Subject |
Unavailable |
|
Judgements Against Principals |
Unavailable |
|
Subject Verified as Client |
Yes |
|
Practice Number |
913596E |
|
VAT Number |
Unavailable |
|
Tax Number |
Unavailable |
|
BEE Status |
Unavailable |
|
Financial Year End |
Unavailable |
|
No of years in Business |
7 Years 5 Months |
|
Website |
Unavailable |
|
Comment |
- |
Previous
Auditors Information - No Information on Record
|
Vat Number |
4570173825 |
|
Status |
ACTIVE |
|
Vat Liable Date |
1998/07/01 |
|
Tax Number |
9434251840 |
|
Tax Clearance Expire Date |
|
|
Financial Year End |
March |
|
Comment |
|
Black
Economic Empowerment
|
|
|
Status |
Yes |
|
Score |
9.00 |
|
Expire Date |
Jun 30 2015 |
|
BEE Certificate Available |
No |
|
Comment |
|
|
|
|
|
ISO Information - No Information on Record |
|
Workman's
compensation
|
|
|
Registered |
Yes |
|
Compliance Certified |
Yes |
|
Comment |
|
Subsidiaries
Information - No Information on Record
|
Employees |
||||
|
|
|
|||
|
Number of Employees |
60 |
|||
|
1. Salaried employees |
60 |
|||
|
2. Waged employees |
0 |
|||
|
3. Permanent employees |
60 |
|||
|
4. Casual employees |
0 |
|||
|
5. Contracted employees |
0 |
|||
|
Comment |
|
|||
|
Company Fleet |
||||
|
Company Fleet |
No of vehicles: |
Owned/Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is made up of |
3 |
|||
|
Comment |
|
|||
|
Cars |
1 |
Owned |
R 50000.00 |
|
|
Light delivery Vehicles |
1 |
Owned |
R 70000.00 |
|
|
Other |
1 |
Owned |
R 20000.00 |
|
|
Office |
||
|
Offices |
Offices |
|
|
Head Office Owned/ Rented |
Leased |
|
|
Rental Company |
ORO PROPS (PTY)LTD |
|
|
Lease Agreement |
5 Years |
|
|
Lease Expire Date |
2017-03-31 |
|
|
Type of Premises |
Office blocks |
|
|
Comment |
|
|
|
Branch Information |
||
|
Branches
Names |
Country |
Province |
|
ORO AFRICA (PTY)LTD |
South Africa |
GAUTENG |
|
Branch Detail Information |
||
|
Branches Owned/ Rented |
Leased |
|
|
Lease Agreement |
5 Years |
|
|
Lease Expire Date |
2017-03-31 |
|
|
Type of Premises |
Office Blocks |
|
Organisation Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
Director |
MORRIS
STRUL |
|
|
|
|||
|
1 |
Director |
DAVID
LAZAR DREDZEN |
|
|
|
|||
|
1 |
Director |
GARY
LEONARD NATHAN |
|
|
|
|||
|
1 |
Director |
STEVEN
JEFFREY NATHAN |
|
Company Structure
(Ownership)
Note: One level up
and all levels down
|
Holding |
Company |
Sub |
Comment |
|
100%
- ORO GROUP |
ORO
AFRICA (PTY)LTD |
|
|
Key Deals - No
Information on Record
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial
Bonds |
Comment |
|
1 |
EPPING INDUSTRIAL
SUPPLIERS |
0215316666 |
|
|
|
|
2 |
TOLL
FOWARDING |
0215309800 |
|
|
|
|
3 |
PROTEA
DIAMONDS |
0114847205 |
|
|
|
Trade References Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
5
Years |
R
50000.00 |
R
50000 |
30 Days |
R
25000 |
30
Days |
This
is a good account |
|
2 |
3
Years |
R
2000000.00 |
R1500000 |
7 Days |
R
400000 -500000 |
7
Days |
This is a very good
account. |
|
3 |
5
Years |
R
500000.00 |
R
500000 |
90 Days |
R
40000 - 200000 |
90
Days |
This is a very good
account. |
Judgements
- No information on record
Business
Rescue - No Information on Record
Default
Listing - No information on record
Notarial
Bonds - No information on record
|
Bank |
NEDBANK |
|
Branch |
PARKTOWN |
|
Brach Code |
198765 |
|
Bank Account Number |
1944144870 |
|
Type of Account |
CURRENT ACCOUNT |
|
Account Name |
ORO AFRICA (PTY)LTD |
|
Overdraft Facilities |
YES |
|
Bank Code |
C FOR - R2000000 |
|
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
Deeds Information –
No information on record
Financial Estimates
|
CURRENT ASSETS |
|
|
Stock |
|
|
Debtors |
|
|
FIXED ASSETS |
|
|
Plant, Equipment, Vehicles |
|
|
Property |
|
|
CURRENT LIABILITIES |
|
|
Creditors |
|
|
Loans/ From? |
|
|
Loan Details |
|
|
LONG TERM LIABILITIES |
|
|
Morgage Bonds |
|
|
Previous Year Turnover |
R170000000.00 |
|
Estimated Current Year Turnover |
R170000000.00 |
|
Current Turnover per month |
R146666667.00 |
|
Current Turnover per annum |
R170000000.00 |
|
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 |
4 |
|
Average Age of Active Principals |
53 |
|
Active Principals Active Principal -
1 of 4 MORRIS STRUL |
|
|
Surname |
STRUL |
|
First Name |
MORRIS |
|
Other Names |
|
|
Marital Status |
Married |
|
ID Number |
4905125027009 |
|
Verified ID Number |
Yes |
|
Current Age |
64 Years 8 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
1998/11/01 |
|
Physical Address (at time of Appointment) |
901 CINNABAR, CORNER ATLANTIC AND MAIN ROADS, MUIZENBERG,
7945 |
|
Postal Address |
901 CINNABAR, CORNER ATLANTIC AND MAIN ROADS, MUIZENBERG,
7945 |
|
Current Tel Number |
0214809880 |
|
Cell number |
|
|
Shareholding/Membership |
0.00 |
Principal's
Adverse - No information on record
Business Information for MORRIS STRUL
Principal Current
Business Interests
|
Company
Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
FARAMOST
REALTY CC |
B2008/079667/23 |
In Business |
6 Years 6 Months |
0 |
No |
|
|
GOLDRING
MANUFACTURING JEWELLERS CC |
B1998/007726/23 |
|
16 Years 4 Months |
0 |
No |
|
|
ORO
AFRICA (PTY)LTD |
M1998/007629/07 |
In Business |
16 Years 4 Months |
0 |
No |
|
|
SUMMERFIELDS SYNDICATE (PTY)LTD |
M1971/005982/07 |
In Business |
43 Years 7 Months |
0 |
No |
|
|
VOICE OF GOLD CC |
B1996/008365/23 |
Deregistration Final |
18 Years 6 Months |
0 |
No |
|
Principal Previous
Business Interests
|
Average age of Previous Business |
16 years |
|
Company
Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
ETERNITI
JEWELLERY (PTY)LTD |
M1998/022685/07 |
In
Business |
16
Years 4 Months |
0 |
No |
|
Principal’s Deeds information – No information on Record
Active Principal - 2
of 4
DAVID DREDZEN
|
Surname |
DREDZEN |
|
First Name |
DAVID |
|
Other Names |
LAZAR |
|
Marital Status |
Married |
|
ID Number |
6811075075089 |
|
Verified ID Number |
Yes |
|
Current Age |
45 Years 9 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
1998/08/28 |
|
Physical Address (at time of Appointment) |
89 CARISBROOK STREET, SYDENHAM, 2192 |
|
Postal Address |
P O BOX 2197, HOUGHTON, 2041 |
|
Current Tel Number |
0116459260 |
|
Cell number |
0825637709 |
|
Shareholding/Membership |
0.00 |
Principal's
Adverse - No information on record
Business Information
for DAVID DREDZEN
Principal Current
Business Interests
|
Company Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
ORO
AFRICA (PTY)LTD |
M1998/007629/07 |
In
Business |
16 Years 4 Months |
0 |
No |
|
Principal Previous Business Overview
|
Average age of Previous Business |
16 years |
|
Company Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
ETERNITI
JEWELLERY (PTY)LTD |
M1998/022685/07 |
In
Business |
16 Years 4 Months |
0 |
No |
|
|
ORO AFRICA AND DESIGN (PTY)LTD |
M1998/015764/07 |
In
Business |
16 Years 4 Months |
0 |
No |
|
Principal's Deeds
Information - No information on record
Active Principal - 3
of 4
GARY NATHAN
|
Surname |
NATHAN |
|
First Name |
GARY |
|
Other Names |
LEORNARD |
|
Marital Status |
Married |
|
ID Number |
6502135162088 |
|
Verified ID Number |
Yes |
|
Current Age |
49 Years 6 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
1998/08/28 |
|
Physical Address (at time of Appointment) |
15 BLAIR ROAD, CAMPSBAY, 8002 |
|
Postal Address |
P O BOX 16552, VLAEBERG, 8001 |
|
Current Tel Number |
0114833778 |
|
Cell number |
0824121262 |
|
Shareholding/Membership |
0.00 |
Principal's
Adverse - No information on record
Business Information for GARY NATHAN
Principal Current
Business Interests
|
Company Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
BASFOUR 121 CC |
B2008/242973/23 |
In
Business |
6 Years 6 Months |
0 |
No |
|
|
CENERE ITALY (PTY)LTD |
M2002/020328/07 |
In
Business |
0 |
0 |
No |
|
|
ORO AFRICA (PTY)LTD |
M1998/007629/07 |
In
Business |
16 Years 4 Months |
0 |
No |
|
|
ORO AFRICA AND DESIGN (PTY)LTD |
M1998/015764/07 |
In
Business |
16 Years 4 Months |
0 |
No |
|
|
ORO GROUP (PTY)LTD |
M1998/012984/07 |
In
Business |
16 Years 4 Months |
0 |
No |
|
Principal’s Deeds Information 0 No Information on record
Active Principal – 4 of 4
Steven Nathan
|
Surname |
NATHAN |
|
First Name |
STEVEN |
|
Other Names |
JEFFREY |
|
Marital Status |
Single |
|
ID Number |
6205115218009 |
|
Verified ID Number |
Yes |
|
Current Age |
52 Years 3 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
1998/04/23 |
|
Physical Address (at time of Appointment) |
35 THE PRESIDENT, 51 ALEXANDER ROAD, BANTRY BAY, CAPE TOWN,
8005 |
|
Postal Address |
P O BOX 16552, VLAEBERG, CAPE TOWN, 8018 |
|
Current Tel Number |
0214809860 |
|
Cell number |
0824143544 |
|
Shareholding/Membership |
0.00 |
Principal's
Adverse - No information on record
Business
Information for STEVEN NATHAN
Principal Current
Business Interests
|
Company
Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
ART CAVRON (PTY)LTD |
M1961/002546/07 |
Deregistration
Final |
53 Years 5 Months |
0 |
No |
|
|
BENFRI MANUFACTURING (PTY)LTD |
M1989/000583/07 |
Deregistration
Process |
25 Years 1 Months |
0 |
No |
|
|
BLEND
PROPERTY 17 (PTY)LTD |
M2007/015849/07 |
In Business |
7 Years 7 Months |
0 |
No |
|
|
CENERE ITALY (PTY)LTD |
M2002/020328/07 |
In Business |
0 |
0 |
No |
|
|
DIAMOND BLUE INTERNATIONAL CC |
B1994/009213/23 |
Deregistration
Process |
20 Years 8 Months |
0 |
No |
|
|
ETERNITI JEWELLERY (PTY)LTD |
M1998/022685/07 |
In Business |
16 Years 4 Months |
0 |
No |
|
|
FILK
GOLD PROPERTIES CC |
M1997/059911/23 |
|
17 Years 5 Months |
0 |
No |
|
|
GOLD CLASP CC |
B1994/012189/23 |
In Business |
20 Years 8 Months |
0 |
No |
|
|
GOLDRING MANUFACTURING JEWELLERS CC |
B1998/007726/23 |
|
16 Years 4 Months |
0 |
No |
|
|
HUNTERAX
(PTY)LTD |
M1968/013309/07 |
In Business |
46 Years 10 Months |
0 |
No |
|
|
LAURA AND CLARA
PROPERTY INVESTMENTS CC |
B1997/033752/23 |
Deregistration
Final |
17 Years 5 Months |
0 |
No |
|
|
LUSSO SHOWROOM
(PTY)LTD |
M1995/003626/07 |
Deregistration
Process |
19 Years 7 Months |
0 |
No |
|
|
NATHAN
BROTHERS INTERNATIONAL (PTY)LTD |
M1972/005536/07 |
Deregistration
Final |
42 Years 6 Months |
0 |
No |
|
|
NATKAT INVESTMENTS CC |
B1989/023513/23 |
Deregistration
Final |
25 Years 1 Months |
0 |
No |
|
|
ORO AFRICA (PTY)LTD |
M1998/007629/07 |
In Business |
16 Years 4 Months |
0 |
No |
|
|
ORO AFRICA AND DESIGN (PTY)LTD |
M1998/015764/07 |
In Business |
16 Years 4 Months |
0 |
No |
|
|
ORO GROUP (PTY)LTD |
M1998/012984/07 |
In Business |
16 Years 4 Months |
0 |
No |
|
|
SWISH PROPERTY FOUR (PTY)LTD |
M2004/031414/07 |
Deregistration
Final |
10 Years 10 Months |
0 |
No |
|
|
TRESSO TRADING 679 (PTY)LTD |
M2002/029620/07 |
In Business |
0 |
0 |
No |
|
|
YELLOWTAIL TRADING 17 CC |
B2005/045412/23 |
Deregistration
Final |
9 Years 9 Months |
0 |
No |
|
Principal Previous
Business Interests
Average
Age of Previous Business - 28 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
AVINAN INVESTMENTS CC |
B1996/061903/23 |
Deregistration
Process |
18 Years 6 Months |
0 |
No |
|
|
CHANPROP CC |
B1988/032644/23 |
Deregistration
Process |
26 Years 2 Months |
0 |
No |
|
|
HARLOMANE INVESTMENTS (PTY)LTD |
2004/019803/07 |
In Business |
10 Years 10 Months |
0 |
No |
|
|
ORO CHAINS (PTY)LTD |
M1997/006649/07 |
In Business |
17 Years 5 Months |
0 |
No |
|
|
PALMBROOKE
INVESTMENTS (PTY)LTD |
M1999/013846/07 |
Conversion CO/CC or CC/CO |
15 Years 3 Months |
0 |
No |
|
|
RAND REFINERY LTD |
M1920/006598/06 |
In Business |
94
Years 10 Months |
1 |
No |
|
|
SECUREDATA HOLDINGS LTD |
M1998/010017/06 |
In Business |
16 Years 4 Months |
0 |
No |
|
Principal's Deeds Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.89 |
|
|
1 |
Rs.93.92 |
|
Euro |
1 |
Rs.72.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
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.