MIPL-Logo

3decades

 

MIRA INFORM REPORT

 

 

Report No. :

502187

Report Date :

13.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

D I Y LOCK WAREHOUSE CC

 

 

Registered Office :

7 Sunlaird Place, Blue Gill Estates, Glen Marais Kempton Park, Gauteng 1619

 

 

Country :

South Africa

 

 

Date of Incorporation :

19.03.1999

 

 

Com. Reg. No.:

1999/015043/23

 

 

Legal Form :

Close Corporation

 

 

Line of Business :

·         Wholesale of hardware, plumbing and heating equipment and supplies

·         The subject is involved in the wholesale and importing of locks and related hardware.

 

 

No. of Employees :

Not Available

 

 

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

 

Subject was unresponsive, therefore we are unable to comment on the enquiry.

 

 

COMPANY INFORMATION

 

OVERVIEW

 

History

D I Y LOCK WAREHOUSE CC was registered and commenced operations in March 1999.

 

 

STATUTORY INFORMATION

 

Registered Name

D I Y LOCK WAREHOUSE

Registration Number

1999/015043/23

Type Of Company

Close Corporation

Registered Date

19/03/1999

Date Commenced Trading

19/03/1999

Commercial Status

In Business

Financial Year End

July

 

 

CONTACT DETAILS 

 

Contact Number

+27 11 398 4300

Email Address

Dianne@lbsw.co.za

Website

www.diylock.co.za

Social Media Presence

Facebook; LinkedIn

Registered Physical Address

 

7 SUNLAIRD PLACE

BLUE GILL ESTATES

GLEN MARAIS KEMPTON PARK

GAUTENG

South Africa 1619

Trading Physical Address

76 Pomona Road Pomona

JOHANNESBURG

Gauteng

South Africa 1619

Postal Address

P O Box 10880

ASTON MANOR

Gauteng

South Africa 1630

 

 

GENERAL COMMENTS

 

Comments

The subject was reluctant in assisting us telephonically with the required information and requested an emailed questionnaire. This was duly sent. Further contact was made with Dianne, the financial manager, who advised that the subject has been purchased by AQUILLA BUSINESS DEVELOPMENT (PTY) LTD, trading as L AND B SECURITY WHOLESALERS, registration certificate number 1999/024550/07. It was, however, stated that only the managing director of AQUILLA BUSINESS DEVELOPMENT (PTY) LTD would be able to confirm if the  assets and operations of the subject are being incorporated into AQUILLA BUSINESS DEVELOPMENT (PTY) LTD, or if the subject will be converted to a private company and operate as a subsidiary entity. The managing director is currently unavailable for confirmation. Should further information be forthcoming, the same will be compiled and forwarded to our client. Any information contained in this report was obtained from outside sources and public information and is thus unconfirmed by the subject.

 

 

TAX INFORMATION

 

TAX INFORMATION

 

Income Tax Number

9561467847

 

VAT INFORMATION

                                               

VAT Status

Not VAT registered

VAT Number

4220211652

Status

Inactive

Registered Name

D I Y LOCK WAREHOUSE CC

Trading Name

D I Y LOCK WAREHOUSE CC

 

GENERAL COMMENTS

 

Comments

A search at SARS revealed the above VAT number to be inactive. No results are listed for the registered entity.

 

 

OFFICERS AND PROFESSIONAL SERVICES

 

LIST OF OFFICERS AND PROFESSIONAL SERVICES

 

Type

Name

Contact Name

Contact Number

Auditor

MOORE STEPHENS FRRS INC.

-

-

 

 

OWNERSHIP STRUCTURE

 

GENERAL COMMENTS

 

General Comments

Ownership structure could not be obtained.

 

 

PRINCIPAL INFORMATION

 

Director / Member

 

Full Name

ID No.

Type

Status

DOA

Active Interests

Previous Interests

Judgments

Fraud Listing

VIVIENNE

ELLEN

JURRIUS

6610270035082

Member

Active

19/03/1999

1

0

0

0

GREGORY

PETER

JURRIUS

6107105062084

Member

Resigned

19/03/1999

2

1

0

0

 

 

ACTIVE BUSINESS INTERESTS: VIVIENNE ELLEN JURRIUS

 

Company Name

 

Registration No.

Business Status

Principal Status

Principal Type

Judgments

IMPELA METALS

2010/014134/07

Deregistration Final

Active

Director

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.

 

 

GENERAL COMMENTS

 

General Comments

It was advised that the subject has been purchased by AQUILLA BUSINESS DEVELOPMENT (PTY) LTD, trading as L AND B SECURITY WHOLESALERS, (Registration Certificate Number: 1999/024550/07), and the member, VIVIENNE ELLEN JURRIUS is no longer active. Further details were not available.

 

 

BANK ACCOUNT INFORMATION

 

GENERAL COMMENTS

 

General Comments

Banking details were not made available.

 

 

OPERATIONAL ACTIVITIES

 

Operational Activities Status

No information could be obtained

Industry

Wholesale

Major Industry SIC Code

46630 - Wholesale of hardware and locks

NACE Code

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

 

MAJOR OPERATION

                                              

Major Business Activities

The subject is involved in the wholesale and importing of locks and related hardware.

Foreign Trade Activities

International

Major Suppliers

Subject declined to provide information.

Major Customers

Retailers of locks, hardware and security equipment.

 

GENERAL COMMENTS

 

General Comments

Information provided is obtained from open source investigations and is unconfirmed by the subject.

 

 

OPERATIONAL FOOTPRINT

 

Operational Footprint Status

No information could be obtained

 

 

BRANCH & PREMISES INFORMATION

 

Location

Description/Type

 

Size (m2 )

# of Staff

Rented or Owned

Lease Expiry Date

POMONA

Office

Warehouse

 

 

 

N/A

 

GENERAL COMMENTS

 

General Comments

No information could be obtained.

 

 

FINANCING TERMS

 

GENERAL COMMENTS

 

General Comments

Financing terms not made available.

 

 

FINANCIAL FIGURES

 

GENERAL COMMENTS

 

General Comments

Financial figures not made available.

 

 

TRADE REFERENCES

 

GENERAL COMMENTS

 

General Comments

No creditor details were made available for trade reference purposes.

 

 

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 65.35

UK Pound

1

INR 92.70

Euro

1

INR 80.80

ZAR

1

INR 5.42

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRI

 

 

Report Prepared by :

NIT

 

 

 

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.