|
Report No. : |
310690 |
|
Report Date : |
11.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
NATAL STAINLESS STEEL (PTY) LTD |
|
|
|
|
Registered Office : |
21
Quarry Park Place, Unit 3 Cedar Park Industrial Estate, Riverhorse Valley Durban,
Kwa-Zulu Natal, 4000, P O Box 40115, Redhill, Durban, Kwa-Zulu Natal, 4071 |
|
|
|
|
Country : |
South
Africa |
|
|
|
|
Date of Incorporation : |
20.08.2001 |
|
|
|
|
Com. Reg. No.: |
2001/019565/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Suppliers of Stainless Steel. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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 |
NATAL STAINLESS
STEEL (PTY) LTD |
|
Country |
South AFrica |
|
Subject Contact
Person |
Viney Financial
Director |
|
Assessment |
This is an established
business. On investigation contact was made with VINEY, the financial
director who declined to assist with information telephonically, therefore an
email was forwarded. We still await a reply, however please see information
below. At present we are not in a position to recommend credit dealings. |
|
Registered
Name |
NATAL
STAINLESS STEEL (PTY)LTD |
|
Trading
as/ Division Name |
|
|
Previous
Name |
Biz
Africa 1509 (Pty) Ltd |
|
Date
of Name Change |
|
|
Registration
Number |
2001/019565/07 |
|
Registration
Date |
2001/08/20 |
|
Date
Commenced Trading |
|
|
Age
of Business |
13
years 7 months |
|
History
of Business |
The subject was originally a CC that began in 1992 and was incorporated
into a newly registered Pty Ltd company in 2001. |
|
History
of Principals |
|
|
Shareholders/Members/Partners
of subject and % holding |
20% DAYALAN GOVENDER 80% GOPAUL NADASSEN GOVENDER |
|
Authorized
Share Capital |
R1000.00 |
|
Issued
Share Capital/Members Contribution |
R
100.00 |
|
Status |
In
Business |
|
Operations
Assessment |
Suppliers
of Stainless Steel. |
|
Industry/
Customers |
Construction
industry |
|
Export |
|
|
Export
Countries |
|
|
Import |
|
|
Import
Countries |
|
|
Major
Industry Code / SICC |
35101 |
|
Definition
of Code |
Basic iron and steel industries, except steel pipe and tube
mills |
|
Head
Office Physical Address |
21 Quarry Park Place, Unit 3 Cedar Park Industrial Estate, Riverhorse
Valley Durban, Kwa-Zulu Natal, 4000 |
|
Head
Office Postal Address |
P O Box 40115, Redhill, Durban, Kwa-Zulu Natal, 4071 |
|
Current
Tel Number |
0118240405/0315335100 |
|
Cell
Number |
0825757802 |
|
Current
Fax Number |
0315335151 |
|
Current
Email Address |
|
|
Web
Site Address |
|
|
Comments |
The subjects Head office and warehouse/ distribution is in
Durban , however there is a branch in Germiston Johannesburg. |
|
Company
Registered Name |
DNUNDKISSORE
& CO |
|
Subject
Verified as Client |
|
|
Practice
Number |
643602 |
|
No
of years in Business |
Unknown |
Previous Auditors Information - No
Information on Record
|
Vat Number |
4220203840 |
|
Status |
|
|
Vat Liable Date |
|
|
Tax Number |
9691090147 |
|
Tax Clearance
Expire Date |
|
|
Financial Year End |
February |
|
Comment |
|
|
Black
Economic Empowerment |
|
|
Status |
Yes |
|
Score |
2.00 |
|
Expire Date |
Jun 1 2015 |
|
BEE Certificate
Available |
Yes |
|
Comment |
Certificate will be
sent after report |
|
ISO Status |
|
|
Type of ISO Grade |
9001 |
|
ISO Certificate |
Yes |
|
ISO Certificate
Available |
Yes |
|
Certified by an
Accredited Agent |
Yes |
|
Comment |
Certificate will be
sent after report |
Work Mans Information - No Information on Record
Subsidiaries Information - No Information on Record
Employees Information - No Information on Record
Company Fleet Information - No Information on Record
Offices Information - No Information on Record
Branch Information - No Information on Record
Organisational Ohart - No In formation on Record
Company Structure Information - No Information on Record
Note: One level up and
all levels down
Key Deals - No Information on Record
Trade References Information - No Information on Record
Judgements - No information on record
Business Rescue - No Information on Record
Default Listing - No information on record
Notarial Bonds - No information on record
Bank Information - No Information on Record
Bank Code History - No Information on Record
Previous Bank Account Information - No Information on Record
Deeds Information - No information on record
|
Number
of Principals |
3 |
|
Average
Age of Active Principals |
40 |
|
Number
of Inactive Principals |
|
|
Active Principals Active Principal - 1 of 3 DAYALAN
GOVENDER |
|
|
Surname |
GOVENDER |
|
First
Name |
DAYALAN |
|
Other
Names |
|
|
Marital
Status |
|
|
ID
Number |
8104215155088 |
|
Verified
ID Number |
Yes |
|
Current
Age |
33
Years 11 Months |
|
Designation |
BUSINESS
MAN |
|
Status |
Active |
|
Appointment
Date |
2006/05/09 |
|
Physical
Address (at time of Appointment) |
51
HOLLANDER CRESCENT, MORNINGSIDE, DURBAN, 4001 |
|
Postal
Address |
P
O BOX 40115, REDHILL, 4071 |
|
Current
Tel Number |
0315335100 |
|
Cell
number |
0825757802 |
|
Shareholding/Membership |
0.00 |
Principal’s Adverse –
No information on record
|
Company Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
NATAL
STAINLESS STEEL (PTY)LTD |
M2001/019565/07 |
In Business |
14 Years 2 Months |
0 |
No |
|
|
SASH FINANCIAL
SERVICES CC |
B2007/164786/23 |
Deregistration
Final |
8 Years 8 Months |
0 |
No |
|
|
VARSISCAN
(PTY)LTD |
M2010/010271/07 |
In Business |
5 Years 5 Months |
0 |
No |
|
|
DYNAMIC CUT AND
BEND (PTY)LTD |
M2004/013331/07 |
In Business |
11
Years 11 Months |
0 |
No |
|
Principal Previous Business
Interest
Average Age of Previous Business
Principal Deeds
Information
Property Interests
for DAYALAN GOVENDER
|
Title Deed No. |
ST8661/2010 |
Erf/Site No. |
1575,1541 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
MOUNT MORELAND MOUNT
MORELAND |
|
Property Type |
U |
Extent / Size |
|
|
Purchase Date |
2009/08/31 |
Purchase price |
R1450000.00 |
|
% Ownership |
0.00 |
Bond Holder |
NEDBANK LTD |
|
Bond Number |
SB55252010 |
Bond Amount |
R 600000.00 |
|
Comment |
|
||
MELANIE
GOVENDER
|
Surname |
GOVENDER |
|
First Name |
MELANIE |
|
Other Names |
|
|
Marital Status |
|
|
ID Number |
8401100234089 |
|
Verified ID Number |
No |
|
Current Age |
31 Years 2 Months |
|
Designation |
BUSINESS WOMAN |
|
Status |
Active |
|
Appointment Date |
2006/05/09 |
|
Physical
Address (at time of Appointment) |
52 WINDSOR AVENUE,
UMHLANGA ROCKS, 4319 |
|
Postal Address |
P O BOX 40115,
REDHILL, 4071 |
|
Current Tel Number |
0315613568 |
|
Cell number |
0823552944 |
|
Shareholding/Membership |
0.00 |
Business Information
for MELANIE GOVENDER
Principal Current
Business Interests
|
Company Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
DESERT STAR TRADING
312 (PTY)LTD |
M2006/000757/07 |
AR
Final Deregistration |
9 Years 9 Months |
0 |
No |
|
|
GROM
TRADING (PTY)LTD |
M1998/019900/07 |
In Business |
17
Years 5 Months |
0 |
No |
|
|
NATAL STAINLESS
STEEL (PTY)LTD |
M2001/019565/07 |
In Business |
14
Years 2 Months |
0 |
No |
|
Principal Previous Business
Interest
Average Age of Previous Business 6 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
CNC SYSTEMS AFRICA (PTY)LTD |
M2009/023200/07 |
In
Business |
6 Years 6 Months |
0 |
No |
|
Principal Deeds
Information
Property Interests
for MELANIE GOVENDER
|
Title Deed No. |
ST14477/2010 |
Erf/Site No. |
1661,0 |
|
Deeds Office |
JOHANNESBURG |
Physical Address |
|
|
Property Type |
U |
Extent / Size |
|
|
Purchase Date |
2010/02/20 |
Purchase price |
R 495000.00 |
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
R 0.00 |
|
Comment |
|
||
GOPAUL GOVENDER
|
Surname |
GOVENDER |
|
First Name |
GOPAUL |
|
Other Names |
NADASSEN |
|
Marital Status |
|
|
ID Number |
6001195175080 |
|
Verified ID Number |
Yes |
|
Current Age |
55 Years 2 Months |
|
Designation |
BUSINESSMAN |
|
Status |
Active |
|
Appointment Date |
2002/02/05 |
|
Physical
Address (at time of Appointment) |
52 WINDSORE AVENUE,
UMHLANGA ROCKS, DURBAN, 4000 |
|
Postal Address |
P O BOX 4023,
DURBAN, 4000 |
|
Current Tel Number |
0315335100 |
|
Cell number |
0823552944 |
|
Shareholding/Membership |
0.00 |
Business Information
for GOPAUL GOVENDER
Principal Current
Business Interests
|
Company Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
DYNAMIC CUT AND BEND (PTY)LTD |
M2004/013331/07 |
In Business |
11
Years 11 Months |
0 |
No |
|
|
GROM
TRADING (PTY)LTD |
M1998/019900/07 |
In Business |
17 Years 5 Months |
0 |
No |
|
|
N S S STEEL CC |
B1996/057660/23 |
AR
Final Deregistration |
19 Years 7 Months |
0 |
No |
|
|
NATAL STAINLESS
STEEL (PTY)LTD |
M2001/019565/07 |
In Business |
14 Years 2 Months |
0 |
No |
|
|
NATAL STAINLESS
STEEL CC |
B1992/016714/23 |
Deregistration
Final |
23
Years 11 Months |
0 |
No |
|
Principal Previous
Business Interest
Average Age of Previous Business 15 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
CHEROKEE TRADING POST 58 (PTY)LTD |
M2007/032160/07 |
Deregistration Process |
8 Years 8 Months |
0 |
No |
|
|
JAGUAR METALS (PTY)LTD |
M1997/007892/07 |
In Business |
18 Years 6 Months |
0 |
No |
|
|
KMA ENGINEERING CC |
B1996/057843/23 |
AR Final Deregistration |
19 Years 7 Months |
0 |
No |
|
Principal Deeds Information
Property Interests for GOPAUL GOVENDER
|
Title Deed No. |
ST51522/2008 |
Erf/Site No. |
143,139 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
102
MOUNT EDGECOMBE MOUNT EDGECOMBE COUNTRY ESTATE 2 MOUNT EDGECOMBE |
|
Property Type |
U |
Extent / Size |
|
|
Purchase Date |
2008/09/08 |
Purchase price |
R1560000.00 |
|
% Ownership |
0.00 |
Bond Holder |
NEDBANK LTD |
|
Bond Number |
SB401522008 |
Bond Amount |
R1060000.00 |
|
Comment |
|
||
Property Interests for GOPAUL GOVENDER
|
Title Deed No. |
T38593/1995 |
Erf/Site No. |
953 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
331 DR HOOSEN
HAFFAJEE DURBAN |
|
Property Type |
F |
Extent / Size |
|
|
Purchase Date |
1995/10/12 |
Purchase price |
R 575000.00 |
|
% Ownership |
0.00 |
Bond Holder |
STANDARD BANK OF
SOUTH AFRICA LTD |
|
Bond Number |
B414531995 |
Bond Amount |
R 460000.00 |
|
Comment |
|
||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.70 |
|
|
1 |
Rs.94.55 |
|
Euro |
1 |
Rs.67.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.