MIRA INFORM REPORT

 

 

Report No. :

502194

Report Date :

12.04.2018

 

 

IDENTIFICATION DETAILS

 

Name :

TOOL WAREHOUSE (PTY) LTD

 

 

Registered Office :

2nd floor, sandton office towers, sandton city sandton 2146

 

 

Country :

South Africa

 

 

Date of Incorporation :

09.09.1999

 

 

Com. Reg. No.:

1999/019854/07

 

 

Legal Form :

Private Company

 

 

Line of Business :

The subject is involved in the importing, wholesale and supply of hardware and hand operated tools.

 

 

No. of Employees :

7

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

B

 

Credit Rating

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

South Africa

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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.

Economic growth has decelerated in recent years, slowing to an estimated 0.7% in 2017. Unemployment, poverty, and inequality - among the highest in the world - remain a challenge. Official unemployment is roughly 27% of the workforce, and runs significantly higher among black youth. 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. 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 but has been plagued with accusations of mismanagement and corruption and faces an increasingly high debt burden.

South Africa's economic policy has focused on controlling inflation while empowering a broader economic base; 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 government faces growing pressure from urban constituencies to improve the delivery of basic services to low-income areas, to increase job growth, and to provide university level-education at affordable prices. Political infighting among South Africa’s ruling party and the volatility of the rand risks economic growth. International investors are concerned about the country’s long-term economic stability; in late 2016, most major international credit ratings agencies downgraded South Africa’s international debt to junk bond status.

 

Source : CIA

 

Executive Summary      

 

Executive Summary       

The subject is well established. No judgments recorded against the subject. A comprehensive trade survey could not be obtained. The subject has an excellent reputation. The lack of financial information should be borne in mind.

 

 

COMPANY INFORMATION

 

OVERVIEW

 

History

TOOL WAREHOUSE (PTY) LTD was registered and commenced operations in September 1999. The company traded until March 2004 before becoming dormant. The dormant entity then re-commenced operations in February 2005 subsequent to a change in shareholding.

 

 

STATUTORY INFORMATION

 

Registered Name

TOOL WAREHOUSE (PTY) LTD

Registration Number

1999/019854/07

Type Of Company

Private Company

Registered Date

09/09/1999

Date Commenced Trading

02/2005

Commercial Status

In Business

Financial Year End

February

 

 

CONTACT DETAILS

                                                       

Contact Number

+27 11 680 8110

Fax Number

+27 11 433 8836

Website

www.toolwholesale.co.za

Social Media Presence

Facebook; LinkedIn; Twitter

Registered Physical Address

2ND FLOOR

SANDTON OFFICE TOWERS

SANDTON CITY SANDTON

South Africa 2146

Trading Physical Address

International Trade Business Park; 41 3rd Street

Southdale

JOHANNESBURG Gauteng

South Africa 2090

Postal Address

P O Box 1644 SOUTHDALE

Gauteng

South Africa 1447

 

 

TAX INFORMATION

 

TAX INFORMATION

Income Tax Number                 9361002620

 

 

VAT INFORMATION

 

VAT Status                              The subject is registered for VAT (VAT number/s made available)

VAT Number

4180186035

Status

Active

Registered Name

TOOL WAREHOUSE (PTY) LTD

 

 

OFFICERS AND PROFESSIONAL SERVICES

 

LIST OF OFFICERS AND PROFESSIONAL SERVICES

 

Type

Name

Contact Name

Contact Number

 

Auditor

JACK LEON LURIE

 

 

 

 

 

OWNERSHIP STRUCTURE

 

SHAREHOLDING INFORMATION

CURRENT

 

Shareholder/Member Name

Share/Interest

Type

Comment

 

DEAN AUBREY SIEBERT

100.00%

Shareholder

 

 

 

 

PRINCIPAL INFORMATION

 

Director / Member

 

Full Name

ID No.

Type

Status

DOA

Active Interests

Previous Interests

Judgments

Fraud Listing

DEAN

AUBREY

SIEBERT

7704195084082

Director

Active

16/09/2013

2

1

0

0

AUBREY

JOHN

SIEBERT

5010125096085

Director

Resigned

01/02/2005

5

1

0

0

FRANCINA JOHANNA ROODT

5607050058087

Director

Resigned

09/09/1999

1

0

0

0

HUGO

ROODT

5410255019081

Director

Resigned

09/09/1999

2

1

0

0

 

ACTIVE BUSINESS INTERESTS: DEAN AUBREY SIEBERT

 

Company Name

Registration No.

Business Status

Principal Status

Principal Type

Judgments

R1 WAKEBOARDS

2006/225650/23

AR Deregistration Process

Active

Member

0

LIBRA MARKETING AND SALES

1985/014375/23

In Business

Active

Member

0

 

PREVIOUS BUSINESS INTERESTS: DEAN AUBREY SIEBERT                                                          

Company Name

Registration No.

Business Status

Principal Status

Principal Type

Judgments

GIZMOBE COVERS

2007/168235/23

In Business

Resigned

Member

0

 

 

Management

 

No principals found for this principal type.

 

 

Officer

 

No principals found for this principal type.

 

 

Other

 

No principals found for this principal type

 

 

 

 

BANK ACCOUNT INFORMATION

 

BANK ACCOUNTS

 

Account Reference

Number

Account Holder

Account Number

Bank Name

Branch Name

Branch Code

Verification Status

ABB164391

TOOL WAREHOUSE (PTY) LTD

4061599785

Absa Bank

Booysens

632005

Verified by AVS

ABB164371

TOOL WAREHOUSE (PTY) LTD

4001599785

Absa Bank

Booysens

632005

Invalid by AVS

 

 

OPERATIONAL ACTIVITIES

 

 

Operational Activities Status

The following information was provided

 

Industry

Importing & wholesale

 

Major Industry SIC Code

46630 - Wholesale of hardware and locks

 

Secondary Industry SIC Code(s)

Other business support service activities n.e.c.

 

NACE Code

46,74 - Wholesale of hardware, plumbing and heating equipment and supplies

 

 

 

MAJOR OPERATION

                                                       

Major Business Activities

The subject is involved in the importing, wholesale and supply of hardware and hand operated tools.

 

Foreign Trade Activities

International

 

Agencies Held

Subject holds no agencies.

 

Franchises Held

The subject holds no franchises.

 

Major Suppliers

M K FREIGHT

 

Major Customers

Hardware retail stores

 

Major Brands

Subject has brands, but declined information.

 

Major Contracts

Subject does not operate on a contract basis.

 

 

 

IMPORT ACTIVITIES

 

Subject imports

Imports From

To the value of

• China

 

• Europe

 

 

 

General Comments

 

General Comments                                            --

 

 

OPERATIONAL FOOTPRINT

 

Operational Footprint Status                              The following information was provided

 

 

BRANCH & PREMISES INFORMATION

 

 

Location

Description/Type

Size (m2)

# of Staff

Rented or Owned

Lease Expiry Date

SOUTHDALE

Office

 

7

Leased

N/A

 

 

EMPLOYEES

 

Permanent Employees                                       7

 

 

GENERAL COMMENTS

 

GENERAL COMMENTS            It was advised that the subject does not require warehouse facilities as stock is imported per order and delivered directly to the client. There are no vehicles registered in the business name

 

FINANCING TERMS

 

FINANCING TERMS

 

Sales Terms

30 Days

 

Overdraft Facility

The Subject has an overdraft facility.

 

Overdraft

1,000,000 ZAR

 

Overdraft Usage

Regularly

 

Sureties

The Principals have signed sureties

 

Debtors Ceded

Debtors have not been ceded.

 

Debtors Factored

Debtors have not been factored.

 

Bonds

The Subject has no bonds.

 

FINANCIAL FIGURES

 

GENERAL COMMENTS

General Comments                  Financial figures were not made available

 

 

TRADE REFERENCES

 

TRADE REFERENCES

 

 

 

 

Terms

Monthly

 

Payment

 

 

Trade

Date

Trade

Given

Limit

Account

Trend

 

Account

Notes

Reference

 

 

Score

(Taken)

Given

Opened

(prev. 3

 

Insured

 

 

 

 

 

in days

(Taken)

 

years)

 

 

 

 

 

 

30

Open

 

 

 

 

 

 

TR180406338

06/04/2018

Neutral

Days (30

Days)

Account (150,000)

(ZAR)

2008

50%

 

 

No

This is a very good account. Monthly imports range between ZAR100,000 and ZAR200,000.

 

 

TRADE REFERENCE ANALYTICS

 

 

Number of valid Trade References

1

Overall Trade Score

50%

Average Usage of Terms

100%

Average Monthly Purchase

150,000 ZAR

 

 

GENERAL COMMENTS

                                                                                                                                                          

General Comments

Further creditors details were not made available for trade reference purposes as all supplies are imported. The identities of its international suppliers were declined.

 

 

COURT NOTICES

 

No judgments on file in the name of the subject

No liquidation applications on file in the name of the subject

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.13

UK Pound

1

INR 92.51

Euro

1

INR 80.59

ZAR

1

INR 5.45

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIY

 

 

Report Prepared by :

KET

                                                


 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

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.