MIRA INFORM REPORT

 

 

Report No. :

345939

Report Date :

16.10.2015

 

IDENTIFICATION DETAILS

 

Name :

GOLDKEYS INTERNATIONAL (PTY) LTD

 

 

Formerly Known As :

CYBROFUSION

 

 

Registered Office :

30 Jaco Place Rossburgh 4094, P O Box 185 Durban 4000

 

 

Country :

South Africa

 

 

Date of Incorporation :

May 2002

 

 

Com. Reg. No.:

2010/012727/07

 

 

Legal Form :

Private Company (Pty) Ltd

 

 

Line of Business :

Subject is engaged in the importing and pre-packing of grain.

 

 

No. of Employee :

Not Available

 

 

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 :

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 – 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

 

Company name

 

GOLDKEYS INTERNATIONAL (PTY) LTD

 

 

COMPANY INFORMATION

 

OVERVIEW

 

History

 

GOLDKEYS INTERNATIONAL (PTY) LTD was registered in May 2002 as a GOLDKEYS 2000 PREPACKS (Registration Number: 2002/102773/23) operations commenced immediately. In July 2003 the company underwent a name change to the current name. In June 2010 the concern converted to a Private Company.

 

Major Operations or Business Sectors

 

The subject is involved in the import of garain.

Industry

WHOLESALER

SIC Code(s)

61221(Wholesale Trade In Foodstuffs)

 

 

STATUTORY INFORMATION

 

Previous Names

CYBROFUSION  (2010/10/28);

Registration Number

2010/012727/07

Type of Company

Private Company (Pty) Ltd

Registration Date

21/06/2010

Date Commenced Trading

12/05/2002

Commercial Status

In Business

 

 

CONTACT DETAILs

 

Contact Number            +27 31 459 0800

Email Address

imthiazb@goldkeys.co.za

Fax Number

+27 31 459 0801

Social Media Presence

Registered Physical Address

30 JACO PLACE ROSSBURGH 4094

Trading Physical Address

30 Jaco Place ROSSBURGH

 

KwaZulu-Natal

Postal Address

P O Box 185 DURBAN 4000

 

 

TAX INFORMATION

 

Income Tax Number       9131097181

VAT Number                 4390257949

 

 

AUDITORS INFORMATION

 

Name                                        PKF

 

 

INSURANCE BROKER INFORMATION

 

Insurance Broker Name    INVESTSURE INSURANCE BROKERS

 

 

GENERAL COMMENTS

           

Comments

 

We were unable to compile a comprehensive report due to the fact that we are still awaiting the subject to send the questionnaire back to us however please see historical information dated April 2013.

 

 

OWNERSHIP STRUCTURE

 

SHAREHOLDING INFORMATION

 

Holding Company Name

Holding Company Share (%)

ZAFAE FAMILY TRUST

Unconfirmed

 

 

PRINCIPAL INFORMATION

 

PRINCIPAL DETAILS

 

Full Name

ID No.

Designation

Status

Date of Appoint- ment

Active Interests

Prev. Interests

Judg- ments

Fraud Listing

ALLY, ABDULLA

7202095140820

 

Active

06/10/2010

6

2

0

0

GOUWS, CHRISTIAN

5908285147087

 

Resigned

21/06/2010

0

0

0

0

ACTIVE BUSINESS INTERESTS: ABDULLA ALLY

 

Company Name

Registration No.

Business Status

Principle Status

Judgments

ALLDES PROPERTY INVESTMENTS

2008/072086/23

In Business

Active

0

EXODEC 245

2011/054555/23

In Business

Active

0

GOLDKEYS INTERNATIONAL PREPACKS

2002/102773/23

In Business

Active

0

GOLDKEYS PREPACKS

1992/004467/23

AR Final deregistration

Active

0

PENTRON TRADING

2003/053065/23

AR Final deregistration

Active

0

 

 

PREVIOUS BUSINESS INTERESTS: ABDULLA ALLY 

 

Company Name

Registration No.

Business Status

Principle Status

Judgments

SIGNAL POINT TRADING

2002/079887/23

In Business

Resigned

0

SIZA BANTU INVESTMENTS

1998/007436/23

In Business

Resigned

0

 

             

GENERAL COMMENTS

           

Comments Unconfirmed

 

 

BANK ACCOUNT VERIFICATION

 

Verified

Yes

Bank Name

FIRST NATIONAL BANK

Account Holder

GOLDKEYS INTERNATIONAL (PTY) LTD

Account Number

62321994833

 

 

OPERATIONS

 

MAJOR OPERATIONS

 

Major Business Activities           The subject is involved in the importing and pre-packing of grain.

Foreign Trade Activities

Import: Unconfirmed Export: None

 

Major Suppliers

EVEREST FLEXIBLES Durban TROPIC PLASTICS Durban IMPACT FREIGHT Durban SIMS BP CENTRE Durban

Major Customers

Retailers Wholesalers

 

 

BRANCH & PREMISES INFORMATION

 

Area of Distribution   South Africa

 

Location

Description/Type

Size (m²)

# of Staff

Rented or Owned

If rented: Lease Expiry Date

PORT ELIZABETH

OFFICE

 

 

Unknown

n/a

 

 

EMPLOYEES

 

Salaried Employees

0

Waged Employees

0

Total Permanent Employees

0

Casual Employees

0

Contracted Employees

0

 

 

FINANCING TERMS

 

Sales Terms      Unknown,

 

Overdraft          Unconfirmed

 

Sureties

Unconfirmed

Debtors Ceded

R60 000 000

Debtors Factored

Unconfirmed

Bonds

Unconfirmed

Year End

February

 

 

FINANCIAL FIGURES

 

Actual numbers, 000' or mio                   Actual Numbers

 

INCOME STATEMENT

 

 

Current Financial Year (est)

Previous Financial Year

Prior Financial Year

Turnover/Revenue

 

40,000,000

 

 

BALANCE SHEET

 

Current Financial Year (est)        Previous Financial Year

 

Assets

 

--Inventory/Stock

 

25,000,000

--Accounts  Receivable/Debtors

 

60,000,000

 

Liabilities

 

Current Liabilities

 

--Accounts Payable/Creditors

50,000,000

 

 

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

4

50%

100%

 

0%

 

 

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

 

 

 

 

09/10/2015

 

 

 

 

1

 

 

 

 

60 (60)

 

 

 

1,800,000

ZAR ()

 

 

 

 

20

 

 

 

 

1

 

 

 

 

-

 

 

 

 

-

 

 

 

 

Unknown

Average monthly purchases are between ZAR700,000

and ZAR1,000,000

It is a good account.

 

Ref 2

 

09/10/2015

 

N/A

see notes (see notes)

 

 

()

 

 

-

 

-

 

-

 

Unknown

Relevant person unavailable.

 

Ref 3

 

09/10/2015

 

N/A

see notes (see notes)

 

 

()

 

 

-

 

-

 

-

 

Unknown

 

Awaiting fax back.

 

 

 

Ref 4

 

 

 

09/10/2015

 

 

 

N/A

 

see notes (see notes)

 

 

 

()

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

Unknown

Account has not been utilized since 2014.

There are no outstanding balances.

 

 

ADMIN DETAILS

 

INTERVIEWER 

 

Conta ct Tel No.

+27 10 001 0540

 

 

LEGEND

 

Adverse  Information

 

Potentially Adverse Information (depends on client context)

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.82

UK Pound

1

Rs.100.41

Euro

1

Rs.74.50

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

VNT

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.