MIRA INFORM REPORT

Report No. :	347612
Report Date :	04.11.2015

IDENTIFICATION DETAILS

Name :	STRUTFAST (PTY) LTD
Formerly Known As :	CLASS A TRADING 112
Registered Office :	1316 The Club House Straight Corner Of The Links Road And Albert Maraisburg Gauteng 1709
Country :	South Africa
Date of Incorporation :	17.01.2001
Legal Form :	Private Company (Pty) Ltd
Line of Business :	The subject is involved in the wholesale of cable support systems for the construction industry.
No. of Employees :	95

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 :	Slow but correct
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)
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

General COMMENTS

This is an established business meeting its commitments on time. No adverse information has been reported. The subject is considered equal to its normal business engagements

COMPANY INFORMATION

OVERVIEW

History	STRUTFAST (PTY) LTD was established in January 2001 utilizing a shelf entity styled CLASS A TRADING 112 for registration purposes. In March of 2001 the subject underwent a name change to the current name.
Major Operations or Business Sectors	The subject is involved in the wholesale of cable support systems for the construction industry.
Industry	Wholesale
SIC Code(s)	615(Wholesale Trade In Machinery, Equipment And Supplies)

STATUTORY INFORMATION

Registered Name	STRUTFAST (PTY) LTD
Previous Names	CLASS A TRADING 112 (2001/03/07);
Registration Number	2001/000805/07
Type of Company	Private Company (Pty) Ltd
Registration Date	17/01/2001
Date Commenced Trading	17/01/2001
Commercial Status	In Business

CONTACT DETAILS

Contact Number +27 11 473 1212
Email Address	levyt@strutfast.co.za
Fax Number	+27 11 473 1199
Website	www.strutfast.co.za
Social Media Presence	The subject has no social media presence
Registered Physical Address	1316 THE CLUB HOUSE STRAIGHT CORNER OF THE LINKS ROAD AND ALBERT MARAISBURG GAUTENG 1709
Trading Physical Address	1316 The Clubhouse Straight MARAISBURG Johannesburg Gauteng 1709
Postal Address	Private Bag 2006 MENLYN Pretoria Gauteng 0063

TAX INFORMATION

Income Tax Number 9106216147

Vat Number 4510192349

AUDITORS INFORMATION

Name JACQUES JEAN MARAIS

INSURANCE BROKER INFORMATION

Insurance Broker name COM RISK INSURANCE BROKERS

OWNERSHIP STRUCTURE

Shareholders/Members	Share/Interest (%)
Pieter Uys	75
P Van Heerden	12.5
Pieter Uys Family Trust	12.5

PRINCIPAL INFORMATION PRINCIPAL DETAILS

Full Name	ID No.	Designation	Status	Date of Appoint- ment	Active Interests	Prev. Interests	Judg- ments	Fraud Listing
UYS, PIETER	4902175081085		Active	24/01/2001	4	0	0	0

ACTIVE BUSINESS INTERESTS: PIETER UYS

Company Name	Registration No.	Business Status	Principle Status	Judgments
STRUTFAST (NORTH)	2008/008494/07	In Business	Active	0
STRUTFAST INVESTMENTS	2014/172095/07	In Business	Active	0
STRUTFAST PROPERTY HOLDING	2010/020570/07	In Business	Active	0

BANK ACCOUNT VERIFICATION

Verified	Yes
Bank Name	STANDARD BANK
Account Holder	STRUTFAST (PTY) LTD
Account Number	021250936

OPERATIONS

MAJOR OPERATIONS

Major Business Activities The subject is involved in the wholesale of cable support systems for the construction industry.
Foreign Trade Activities	African countries
Major Suppliers	HENN WILL ENGINEERINGIMPROFILE 2000METAL FORMERS
Major Brands	Information unconfirmed

BRANCH INFORMATION

South Africa

PREMISES

Other Premises	None
Other Premises Rented or Owned	The premises are reported to be leased, however, the respondent stated that theyare in the process of purchasing their current premises.

Employees

Salaried Employees	95
Waged Employees	0
Total Permanent Employees	95
Casual Employees	0
Contracted Employees	0

FINANCING TERMS

Sales Term	Unknown,
Date Obtained	2015
Year End	March

GENERAL COMMENTS

Comments Financing terms not confirmed.

FINANCIAL FIGURES

Currency Zar

Actual numbers, 000’ or mio Actual Numbers

INCOME STATEMENT

	Current Financial Year (est)	Previous Financial Year	Prior Financial Year
Turnover/Revenue	150,000,000

BALANCE SHEET

	Current Financial Year (est)	Previous Financial Year
Assets
--Inventory/Stock	30,000,000
--Accounts Receivable/Debtors	20,000,000

Liabilities

Current Liabilities
--Accounts Payable/Creditors	15,000,000
Comment	Financial information dated April 2013, current financial details were not made available.

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
6	60%	100%	750,000.00 ZAR	75%

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	29/10/2015	N/A	see notes (see notes)	Declined ()		-	2	-	Unknown	Supplier stated that it was company policy not to provide trade references.
Ref 2	29/10/2015	0	30 (30)	Declined ()		0	-	-	No	Supplier stated that terms were confidential and that subject conducts an average account.
Ref 3	02/11/2015	1	30 (30)	Open ()		1	2	-	Unknown	Supplier stated that figures are confidential , and subject conducts a good account.
Ref 4	29/10/2015	1	30 (30)	1,000,000 ZAR (1,000,000 ZAR)	5	1	-	-	No	Supplier stated that subject conducts a good account.

GENERAL COMMENTS

Comments Further trade references not made available.

ADMIN DETAILS

INTERVIEWER

Researcher	Inoxico
Contact Tel No.	+27 10 001 0540
Email	research@inoxico.com

INTERVIEWER

Contact Person Belinda Nel
Position	Accountant
Company Tel No.	+27 11 473 1212
Email	sales@strutfast.co.za

LEGEND

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.65.45
UK Pound	1	Rs.100.96
Euro	1	Rs.72.10

INFORMATION DETAILS

Analysis Done by :	KIN
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%)

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