MIRA INFORM REPORT

Report No. :	346361
Report Date :	23.10.2015

IDENTIFICATION DETAILS

Name :	ARCTOCEL (PTY) LTD
Registered Office :	4th Floor Aloe Grove Houghton Estate Office Park 2 Osborn Road Houghton Estate 2198
Country :	South Africa
Date of Incorporation :	04.08.2010
Com. Reg. No.:	2010/006739/07
Legal Form :	Private Company (Pty) Ltd
Line of Business :	Subject is involved in the exporting and wholesale of various metal products being ferrous metals and non-ferrous metals, alloys as well as scrap metal products.
No. of Employee :	29

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 anABUNDANT 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 theREGION, 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 INFORMATION

OVERVIEW

History ARCTOCEL (PTY) LTD was established in April 2010.
Major Operations or Business Sectors	The subject is involved in the export and wholesale industry.
Industry	EXPORT & WHOLESALE
SIC Code(s)	66(Export)

STATUTORY INFORMATION

Registered Name	ARCTOCEL (PTY) LTD
Registration Number	2010/006739/07
Type of Company	Private Company (Pty) Ltd
Registration Date	04/08/2010
Date Commenced Trading	04/2010
Commercial Status	In Business

CONTACT DETAILS

Contact Number +27 11 234 5230/1/2
Email Address	skdalmia@arctocel.com
Fax Number	+27 11 234 5240
Website	None
Social Media Presence	Facebook; Linkedin
Registered Physical Address	4TH FLOOR ALOE GROVE HOUGHTON ESTATE OFFICE PARK 2 OSBORN ROAD HOUGHTON ESTATE 2198
Trading Physical Address	1st Floor, Galaxy House, River World Park 42 Homestead Road RIVONIA Gauteng 2191
Postal Address	1st Floor, Galaxy House, River World Park 42 Homestead Road RIVONIA Gauteng 2191

TAX INFORMATION

Income Tax Number 9303576178

VAT Number 4110256569

AUDITORS INFORMATION

Name NEXIA LEVITT KIRSON

INSURANCE BROKER INFORMATION

Insurance Broker Name A-ONE INSURANCE BROKERS

GENERAL COMMENTS

Comments We were unable to compile a comprehensive report on the subject as the relevant people were unavailable to assist us however, please see historical information dated December 2014.

OWNERSHIP STRUCTURE

Shareholders/Members	Share/Interest (%)
ARNAV JHUNJHUNWALA	100

PRINCIPAL INFORMATION

PRINCIPAL DETAILS

Full Name	ID No.	Designation	Status	Date of Appoint- ment	Active Interests	Prev. Interests	Judg- ments	Fraud Listing
LEVITT KIRSON MANAGEMENT SERVICES,			Active	23/02/2011	0	0	0	0
JHUNJHUNWALA, ARNAV	9010010000000		Active	10/07/2012	1	0	0	0
JHUNJHUNWALA, SANJAY	Z185065700000		Resigned	18/05/2010	0	1	0	0
POERNOMO, TODHI PRIA	8406080000000		Resigned	11/08/2010	0	1	0	0
GOUWS, CHRISTIAN	5908285147087		Resigned	08/04/2010	0	0	0	0

BANK ACCOUNT VERIFICATION

Verified	Yes
Bank Name	FIRST NATIONAL BANK
Branch Code	254005
Account Holder	ARCTOCEL (PTY) LTD
Account Number	62277432896

OPERATIONS

MAJOR OPERATIONS

Major Business Activities	The subject is involved in the exporting and wholesale of various metal products being ferrous metals and non-ferrous metals, alloys as well as scrap metal products.
Foreign Trade Activities	The subject does not import any products however, exporting is done all over Africa, China and India.
Major Suppliers	Ferrous Metal Processors B G Scrap Metal BIN Services Amalgamated Metal Recycling 727 Salvage & Recycling
Major Customers	Steel Industries
Major Brands	Details pertaining to brands owned or represented were unconfirmed.

BRANCH INFORMATION

Area of Distribution International

PREMISES

---

EMPLOYEES

Salaried Employees	0
Waged Employees	0
Total Permanent Employees	29
Casual Employees	0
Contracted Employees	0

GENERAL COMMENTS

Comments There is no branches for the subject.

Details pertaining to the breakdown of employees were not made available. Details pertaining to fleet were unconfirmed.

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	N/A	583,423,200	N/A

BALANCE SHEET

	Current Financial Year (est)	Previous Financial Year
ASSETS
--Inventory/Stock	N/A	27,132,026
--Accounts Receivable/Debtors	N/A	149,636,427
Fixed Assets/Investments	N/A	6,910,535
LIABILITIES
Current Liabilities	N/A
--Accounts Payable/Creditors	N/A	15,278,432
Comment	Further details 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
5	100%	100%	10,000,000.00 ZAR	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	N/A	see notes (see notes)	Declined ()		-	-	-	Unknown	The number rings unanswered.
Ref 2	09/10/2015	2	30 (30)	Open ()	3	2	-	-	No	The subject pays money upfront at the beginning of the month. The monthly purchases vary between ZAR 100,000.00 to ZAR 2,000,000.00. It was stated that they are excellent clients to deal with.
Ref 3	09/10/2015	N/A	see notes (see notes)	Declined ()		-	-	-	Unknown	Relevant person unavailable.
Ref 4	09/10/2015	2	30 (30)	Open ()	3	2	-	-	No	It was stated by the respondent that the subject has an excellent account. Payments are made at the beginning of month for purchases to be done during the month, therefore the subject pays upfront. Purchases vary between ZAR 2,000,000.00 to ZAR 3,000,000.00
Ref 5	09/10/2015	2	30 (30)	Open ( 10,000,00 0 ZAR)	4	2	-	-	No	Excellent Account.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.65.15
UK Pound	1	Rs.100.54
Euro	1	Rs.73.97

INFORMATION DETAILS

Analysis Done by :	KAR
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%)

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