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Report No. : |
343236 |
|
Report Date : |
10.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
TOPLINE DISTRIBUTORS (PTY) LTD |
|
|
|
|
Registered Office : |
121
Malacca Road, Redhill, Durban, Kwazulu Natal, 4051 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
29.09.2006 |
|
|
|
|
Com. Reg. No.: |
2006/030520/07 |
|
|
|
|
Legal Form : |
Private Company (Pty) Ltd |
|
|
|
|
Line of Business : |
Subject is engaged in importing
and distribution of hand tools and automotive accessories |
|
|
|
|
No. of Employee : |
27 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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) |
|
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 |
TOPLINE DISTRIBUTORS (PTY) LTD
OVERVIEW
|
History |
TOPLINE
DISYTRIBUTORS (PTY) LTD was established in September 2006 when the assets and
operations of a company named TOPLINE DISTRIBUTORS (PTY) LTD (Registration
Certificate Number: 1987/005955/07 were taken over and incorpoarted into a
shelf company styled BASFOUR 3507 (PTY) LTD. In January 2007, the name was
changed to the current. |
|
Major Operations or Business Sectors |
The
subject imports hand tools and automotive accessories from the Far East(Hong
Kong, China, Taiwan) and deals locally with suppliers. |
|
Industry |
Import |
|
SIC Code(s) |
65(Import) |
|
Registered Name |
TOPLINE
DISTRIBUTORS (PTY) LTD |
|
Registration Number |
2006/030520/07 |
|
Type of Company |
Private
Company (Pty) Ltd |
|
Registration Date |
29/09/2006 |
|
Date Commenced Trading |
29/09/2006 |
|
Commercial Status |
In
Business |
|
Contact Number |
+27
31 569 6116 |
|
Email Address |
topline@toplinetools.co.za |
|
Fax Number |
+27
31 569 6120 |
|
Website |
www.toplinetools.co.za |
|
Social Media Presence |
|
|
Trading Physical Address |
121 Malacca Road |
|
Postal Address |
P O Box 40968 |
|
Income Tax Number |
9972691142 |
|
VAT Number |
4520233950 |
|
Name |
MCCOLL
AND COMPANY |
Insurance Broker Name COLIN
COOPER & ASSOCIATES INSURANCE BROKERS
|
Shareholders/Members |
Share/Interest (%) |
|
D
J BROUGHTON |
65 |
|
P
D VAN DER SCHYFF |
25 |
|
W
D BROUGHTON |
10 |
PRINCIPAL
DETAILS
|
Full Name |
ID No. |
Designation |
Status |
Date of Appoint- ment |
Active Interests |
Prev. Interests |
Judg-ments |
Fraud Listing |
|
Broughton,
Derek James |
5108135138006 |
Director |
Active |
01/12/2006 |
0 |
0 |
0 |
0 |
|
Van
Der Schyff, Peter David |
6711265070082 |
Director |
Active |
01/12/2006 |
0 |
0 |
0 |
0 |
|
Broughton,
Warren Derek |
7411175086083 |
Director |
Active |
01/12/2006 |
0 |
0 |
0 |
0 |
|
Comments |
The
BEE certificate was not made available. |
|
Verified |
Yes |
|
Bank Name |
ABSA
BANK |
|
Account Holder |
TOPLINE
MAIN WAREHOUSE |
|
Account Number |
Undisclosed |
MAJOR
OPERATIONS
|
Major Business Activities |
The
importing and distribution of hand tools (e.g. spanners ) and automotive
accessories (e.g. wheel caps .) |
|
Foreign Trade Activities |
The
subject imports hand tools and automotive accessories from the Far East(Hong
Kong, China, Taiwan) and exports to neighbouring countries. |
|
Major Customers |
Wholesalers, retailers and the general industry
e.g.Massmart |
|
Major Brands |
TOPLINE |
|
Area of Distribution |
South
Africa and regionally |
|
Salaried Employees |
27 |
|
Sales Terms |
Cash,COD,30
days, |
|
Overdraft |
The
subject operates with an overdraft facility of R5000 000.00 which is
regularly utilised. |
|
Sureties |
The
directors have signed surety with the bank. |
|
Debtors Ceded |
The
debtors have been ceded to the bank. |
|
Debtors Factored |
The
debtors are not factored. |
|
Bonds |
The
is bond/property registere against the company. |
|
Year End |
February |
|
Actual numbers, 000' or mio |
Actual
Numbers |
|
Comment |
The
financial statements were not made available. |
TRADE
REFERENCES
|
|||||||||||
|
TRADE
REFERENCE ANALYTICS
|
|
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 |
07/10/2015 |
1 |
30
(30) |
250,000
ZAR |
10
|
1 |
- |
- |
Yes |
Good
account, payments are made on due date. |
|
Ref
2 |
07/10/2015 |
N/A |
see
notes (see notes) |
|
|
- |
- |
- |
Unknown |
It
is company policy not to give trade references. |
|
Ref
3 |
07/10/2015 |
0 |
30
(45) |
150,000
ZAR |
+
5 |
0 |
- |
- |
No |
Average
account, takes extensions. |
|
Ref
4 |
07/10/2015 |
N/A |
see
notes (see notes) |
|
|
- |
- |
- |
Unknown |
It
is company policy not to give trade references. |
INTERVIEWER
|
Researcher |
Inoxico |
|
Contact Tel No. |
+27
10 001 0540 |
|
Email |
research@inoxico.com |
|
Contact Person |
Chris
Nadar |
|
Position |
Financial
Manager |
|
Company Tel No. |
+27
31 569 6116 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.78 |
|
UK Pound |
1 |
Rs.99.54 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ASH |
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.