|
Report No. : |
340093 |
|
Report Date : |
08.09.21015 |
IDENTIFICATION DETAILS
|
Name : |
STEELMOR INDUSTRIES (PTY) LTD |
|
|
|
|
Registered Office : |
CNR Apex & Rotterdam Roads, Apex Industrial Sites, Benoni, , 1501 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
13.07.1994 |
|
|
|
|
Com. Reg. No.: |
M1994/005100/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Subject is manufacturer and stockist of pipes, tubes, fittings,flanges, plates, billets, round bars, angles and sections in stainless steel, high nickel alloys, duplex, carbon steel, alloy steel and special steel. The company operates a large drop-forge plant and is also able to fabricate items in stainless steel. |
|
|
|
|
No. of Employee : |
140 |
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 : |
No complaints |
|
|
|
|
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 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 growt
|
Source
: CIA |
|
Name |
STEELMOR
INDUSTRIES (PTY)LTD |
|
Country |
SOUTH
AFRICA |
|
Enquiry
Terms |
30
Days |
|
Subject
Contact Person |
Chris
Harris - Financial Manager |
|
Assessment |
This
is a well-established and well -connected family business. On investigation
contact was made with the Financial Manager, Chris Harris who assisted with
information. The company is meeting its commitments timeously with suppliers.
A bank code C was obtained for an enquiry amount of R5 000 000 over 30 days.
No adverse information was revealed. |
|
Registered
Name |
STEELMOR INDUSTRIES
(PTY)LTD |
|
Trading
as/ Division Name |
STEELMOR |
|
Previous
Name |
|
|
Date
of Name Change |
|
|
Registration
Number |
M1994/005100/07 |
|
Registration
Date |
1994/07/13 |
|
Date
Commenced Trading |
1978 |
|
Age
of Business |
20
Years 8 Months |
|
History
of Business |
STEELMOR
INDUSTRIES (PTY)LTD commenced trading as a new company in 1978. In 1986 it was
registered as a Close Corporation and later converted to a Private Company in
1994. |
|
History
of Principals |
There
are 2 active directors within the business. |
|
Shareholders/Members/Partners
of subject and % holding |
100%
- ELLEN KAY-CLOUGH TRUST |
|
Authorised
Share Capital |
|
|
Issued
Share Capital/Members Contribution |
|
|
Status |
In
Business |
|
Operations
Assessment |
Manufacturer
and stockist of pipes, tubes, fittings,flanges, plates, billets, round bars, angles
and sections in stainless steel, high nickel alloys, duplex, carbon steel,
alloy steel and special steel. The company operates a large drop-forge plant
and is also able to fabricate items in stainless steel. |
|
Industry/
Customers |
Stainless
Steel Industry. The products are used in the mining, petrochemical, food and
beverage industries. |
|
Export |
|
|
Export
Countries |
|
|
Import |
|
|
Import
Countries |
|
|
Major
Industry Code / SICC |
3510 |
|
Definition
of Code |
MANUFACTURE
OF BASIC IRON AND STEEL |
|
Head
Office Physical Address |
CNR
APEX & ROTTERDAM ROADS, APEX INDUSTRIAL SITES, BENONI, , 1501 |
|
Head
Office Postal Address |
PO
BOX 792,BRAKPAN,1540 |
|
Current
Tel Number |
0117475700 |
|
Cell
Number |
|
|
Current
Fax Number |
0114222221 |
|
Current
Email Address |
|
|
Web
Site Address |
|
|
Comments |
|
|
Company
Registered Name |
J
D HILL AND COMPANY INC |
|
Trading
Name |
|
|
Registration
Number |
1996/001241/21 |
|
Physical
Address |
196
ELSTON AVENUE,BENONI,1501 |
|
Postal
Address |
PO
BOX 492,BENONI,1500 |
|
Contact
Person |
JAMES
DOUGLAS HILL |
|
Contact
Number |
0114217146 |
|
Email |
|
|
Principals |
1 |
|
Judgements
Against Subject |
None
on Record |
|
Judgements
Against Principals |
None
on Record |
|
Subject
Verified as Client |
Yes |
|
Practice
Number |
921769 |
|
VAT
Number |
4700198288 |
|
Tax
Number |
9001393801 |
|
BEE
Status |
Level
1 |
|
Financial
Year End |
April |
|
No
of years in Business |
6
Years 9 Months |
|
Website |
|
|
Comment |
|
Previous Auditors Information - No Information on Record
|
Vat
Number |
4810101024 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
|
|
Tax
Number |
9490280832 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
February |
|
Comment |
|
|
Black
Economic Empowerment |
|
|
Status |
Yes |
|
Score |
6.00 |
|
Expire
Date |
Jun
28 2015 |
|
BEE
Certificate Available |
Yes |
|
Comment |
|
|
ISO Status |
|
|
Type
of ISO Grade |
9001:2008 |
|
ISO
Certificate |
Yes |
|
ISO
Certificate Available |
No |
|
Certified
by an Accredited Agent |
Yes |
|
Comment |
|
|
Workman's
compensation |
|
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
|
Comment |
|
Subsidiaries Information - No Information on Record
Employees
|
Number
of Employees |
140 |
|||
|
1.
Salaried employees |
|
|||
|
2.
Waged employees |
|
|||
|
3.
Permanent employees |
140 |
|||
|
4.
Casual employees |
|
|||
|
5.
Contracted employees |
|
|||
|
Comment |
|
|||
|
Company Fleet |
||||
|
Company
Fleet |
No
of vehicles: |
Owned/Leased |
Value |
Outstanding
Balance |
|
Fleet
Operations |
|
|
|
|
|
The
Fleet is made up of |
27 |
|||
|
Comment |
|
|||
|
Other |
9 |
Owned |
|
|
|
Other |
14 |
Owned |
|
|
|
Fork
Lifts |
4 |
Owned |
|
|
Offices
|
Offices |
Offices |
|
Head
Office Owned/ Rented |
Owned |
|
Rental
Company |
|
|
Owned
by |
Unavailable |
|
Value |
|
|
Bond |
|
|
Bank |
|
|
Lease
Agreement |
|
|
Lease
Expire Date |
|
|
Type
of Premises |
Factory
& Office |
|
Comment |
|
Branch Information - No Information on Record
Organisation Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
Director |
SEAN
GEORGE KAY-CLOUGH |
|
|
|
|||
|
1 |
Director |
STEVEN
PATRICK KAY- |
|
Company Structure (Ownership)
Note: One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
100% - ELLEN KAY-CLOUGH TRUST |
STEELMOR INDUSTRIES (PTY)LTD |
|
|
Key Deals - No Information on Record
|
Trade
Reference nr |
Supplier |
Contact |
Surety
Value |
Notarial
Bonds |
Comment |
|
1 |
EURO
STEEL JOHANNESBURG |
0873100500 |
|
|
|
|
2 |
STALCOR
(PTY)LTD |
0118716900 |
|
|
|
|
3 |
NATIONAL
DAIRY EQUIPMENT (PTY)LTD t/a NDE Stainless Steel |
0114721659 |
|
|
|
|
4 |
OUTOKUMPU
(PTY)LTD |
021
595 0900 |
|
|
|
Trade References Detail
|
Nr |
Age
of Acc |
Credit
Limit |
Max
Credit |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
|
1 |
11
Years |
|
|
30
Days |
R
200000 |
30
Days |
Credit
limit figure is confidential. This is a good account. |
|
2 |
25
Years |
R 12000000.00 |
|
30
Days |
R
200000 |
30
Days |
This
is an excellent account. |
|
3 |
|
|
|
|
|
|
Awaiting
Trade Reference |
|
5 |
15
Years |
R 20000000.00 |
|
30
Days |
R
2000000 |
30
Days |
This
is an excellent account. |
Judgements - No information on record BusinessRescue - No
Information on Record
Default Listing - No information on record Notarial Bonds -
No information on record
|
Bank |
STANDARD
BANK |
|
Branch |
BENONI |
|
Brach
Code |
051001 |
|
Bank
Account Number |
021102740 |
|
Type
of Account |
CURRENT |
|
Account
Name |
STEELMOR
INDUSTRIES (PTY)LTD |
|
Overdraft
Facilities |
NO |
|
Bank
Code |
C
for R5 000 000.00 |
|
Bank
Comment |
The
subject's bankers consider them good for all normal business engagements. |
Bank Code History - No Information on Record
Previous Bank Account Information - No Information on Record
Property Interests for Company STEELMOR INDUSTRIES (PTY)LTD
|
Title
Deed No. |
T71532/2000 |
Erf/Site
No. |
188 |
|
Deeds
Office |
JOHANNESBURG |
Physical
Address |
3
MILAN 2260-0050-000 BENONI |
|
Property
Type |
Freehold |
Extent
/ Size |
|
|
Purchase
Date |
2000/08/24 |
Purchase
price |
R
700000.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
STANDARD
BANK OF SOUTH AFRICA L |
|
Bond
Number |
B551532000 |
Bond
Amount |
R
490000.00 |
|
Comment |
|
||
|
|
|||
|
Title
Deed No. |
T65345/1999 |
Erf/Site
No. |
0 |
|
Deeds
Office |
CAPE
TOWN |
Physical
Address |
0174-0100-000
GROOT BRAKRIVIER |
|
Property
Type |
Farms |
Extent
/ Size |
|
|
Purchase
Date |
1999/06/21 |
Purchase
price |
R
390000.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
|
|
Bond
Number |
|
Bond
Amount |
R
0.00 |
|
Comment |
|
||
|
Title
Deed No. |
T37921/1999 |
Erf/Site
No. |
0 |
|
Deeds
Office |
CAPE
TOWN |
Physical
Address |
0033-1850-000 |
|
Property
Type |
Freehold |
Extent
/ Size |
|
|
Purchase
Date |
1999/03/26 |
Purchase
price |
R
2800000.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
|
|
Bond
Number |
|
Bond
Amount |
R
0.00 |
|
Comment |
|
||
|
|
|||
|
Title
Deed No. |
T37921/1999 |
Erf/Site
No. |
0 |
|
Deeds
Office |
CAPE
TOWN |
Physical
Address |
0033-1850-000 |
|
Property
Type |
Freehold |
Extent
/ Size |
|
|
Purchase
Date |
1999/03/26 |
Purchase
price |
R
2800000.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
|
|
Bond
Number |
|
Bond
Amount |
R
0.00 |
|
Comment |
|
||
|
Number
of Principals |
3 |
|
Average
Age of Active Principals |
57 |
|
Number
of Inactive Principals |
|
|
Active Principals Active Principal - 1 of 2 SEAN KAY- CLOUGH |
|
|
Surname |
KAY-
CLOUGH |
|
First
Name |
SEAN |
|
Other
Names |
GEORGE |
|
Marital
Status |
|
|
ID
Number |
6512145245088 |
|
Verified
ID Number |
Yes |
|
Current
Age |
49
Years 3 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2008/02/03 |
|
Physical
Address (at time of Appointment) |
11
VAN DER STEL STREET, ALPHEN PARK, BENONI, 1501 |
|
Postal
Address |
PO
BOX 792, BRAKPAN,1540 |
|
Current
Tel Number |
0117475760 |
|
Cell
number |
0836302693 |
|
Shareholding/Membership |
0.00 |
Principal's
Adverse - No information on record
Business Information for SEAN KAY- CLOUGH
Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
KAY-CLOUGH
INVESTMENTS (PTY)LTD |
M1994/005427/07 |
In
Business |
21
Years 9 Months |
0 |
No |
|
|
SMI
FORGED FLANGES (PTY)LTD |
M1997/012151/07 |
Deregistration
Final |
18
Years 6 Months |
0 |
No |
|
|
SMI
STAINLESS FITTINGS (PTY)LTD |
M1999/021071/07 |
Deregistration
Final |
16
Years 4 Months |
0 |
No |
|
|
STEELMOR INDUSTRIES (PTY)LTD |
M1994/005100/07 |
In
Business |
21
Years 9 Months |
0 |
No |
|
|
STEELMOR
STAINLESS ENTERPRISES (PTY)LTD |
M2003/000182/07 |
In
Business |
0 |
0 |
No |
|
Principal's Previous Business Interests - No information on
record
Principal Deeds Information
Property Interests for SEAN KAY- CLOUGH
|
Title
Deed No. |
T34338/2009 |
Erf/Site
No. |
3756 |
|
Deeds
Office |
JOHANNESBURG |
Physical
Address |
38
EBOTSE EBOTSE GOLF & COUNTRY ESTATE BENONI |
|
Property
Type |
E |
Extent
/ Size |
|
|
Purchase
Date |
2009/10/07 |
Purchase
price |
R1000000.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
|
|
Bond
Number |
|
Bond
Amount |
R
0.00 |
|
Comment |
|
||
Active Principal - 2 of 2
STEVEN KAY-CLOUGH
|
Surname |
KAY-CLOUGH |
|
First
Name |
STEVEN |
|
Other
Names |
PATRICK |
|
Marital
Status |
|
|
ID
Number |
7011155257082 |
|
Verified
ID Number |
Yes |
|
Current
Age |
44
Years 4 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2004/10/18 |
|
Physical
Address (at time of Appointment) |
22
OLIENHOUT, NORTHVILLE, BENONI, 1501 |
|
Postal
Address |
22
OLIENHOUT, NORTHVILLE, BENONI, 1501 |
|
Current
Tel Number |
0117475700 |
|
Cell
number |
|
|
Shareholding/Membership |
0.00 |
Business Information for STEVEN KAY-CLOUGH
Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
SMI
STAINLESS FITTINGS (PTY)LTD |
M1999/021071/07 |
Deregistration
Final |
16
Years 4 Months |
0 |
No |
|
|
STEELMOR INDUSTRIES (PTY)LTD |
M1994/005100/07 |
In
Business |
21
Years 9 Months |
0 |
No |
|
Principal's Previous Business Interests - No information on
record
Principal Deeds Information
Property Interests for STEVEN KAY-CLOUGH
|
Title
Deed No. |
T37027/2014 |
Erf/Site
No. |
489 |
|
Deeds
Office |
JOHANNESBURG |
Physical
Address |
BRENTWOOD
EXT 8 |
|
Property
Type |
E |
Extent
/ Size |
1576.0SQM |
|
Purchase
Date |
2014/06/04 |
Purchase
price |
R
4450000.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
|
|
Bond
Number |
|
Bond
Amount |
R
0.00 |
|
Comment |
|
||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.74 |
|
|
1 |
Rs.101.36 |
|
Euro |
1 |
Rs.74.27 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIT |
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.