MIRA INFORM REPORT

Report No. :	502188
Report Date :	14.04.2018

IDENTIFICATION DETAILS

Name :	IRONMONGERY WAREHOUSE AFRICA (PTY) LTD
Formerly Known As :	IRONWARE WAREHOUSE
Registered Office :	3 commerce place, Krammerville Krammerville Gauteng, 2148
Country :	South Africa
Date of Incorporation :	21.02.2015
Com. Reg. No.:	2015/051796/07
Legal Form :	Private Company
Line of Business :	The subject is involved in the wholesale and importing of ironmongery, such as: door locks, hinges, controls, accessories as well as panic hardware and emergency exit and fire doors
No. of Employees :	Not Available

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd 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

Subject was unresponsive. The subject has a short track record. No judgments recorded against the subject. Accounts are paid on due date. No bank information supplied. The lack of financial information should be borne in mind.

COMPANY INFORMATION

OVERVIEW

History

IRONMONGERY WAREHOUSE AFRICA (PTY) LTD was registered and commenced operations in February 2015 as IRONWARE WAREHOUSE (PTY) LTD. The name of the company was changed to the current name in August 2017.

STATUTORY INFORMATION

Registered Name	IRONMONGERY WAREHOUSE AFRICA (PTY) LTD
Previous Names	IRONWARE WAREHOUSE (23/08/2017)
Registration Number	2015/051796/07
Type Of Company	Private Company
Registered Date	21/02/2015
Date Commenced Trading	21/02/2015
Commercial Status	In Business
Financial Year End	August

CONTACT DETAILS

Contact Number	+27 21 712 3800
Email Address	Carmen@ironware.co.za
Website	www.ironmongerywarehouse.co.za
Social Media Presence	Facebook; LinkedIn
Registered Physical Address	3 COMMERCE PLACE KRAMMERVILLE KRAMMERVILLE GAUTENG South Africa 2148
Trading Physical Address	155 Main Road Diep River CAPE TOWN Western Cape South Africa 7800
Postal Address	155 Main Road DIEP RIVER Western Cape South Africa 2144

GENERAL COMMENTS

Comments

The subject was reluctant in assisting us telephonically with the required information and requested an emailed questionnaire. This was duly sent. However, to date there has been no response, despite our having followed up on numerous occasions. Any information contained in this report was obtained from outside sources and public information and is thus unconfirmed by the subject. It was, however, advised that the head office for the subject is situated at 3 Commerce Place, Kramerville, Sandton, and can be contacted on +27 11 444 8677.

TAX INFORMATION

TAX INFORMATION

Income Tax Number 9521640178

VAT INFORMATION

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

VAT Number	4680272350
Status	Active
Registered Name	IRONMONGERY WAREHOUSE AFRICA (PTY) LTD

Ownership structure

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
JONATHAN WENER	5503295123085	Director	Active	01/09/2017	6	2	0	0
MICHAEL BOTHA	6006245022083	Director	Active	01/09/2017	1	0	0	0
NEVAN LUCAS	8502255043082	Director	Active	01/09/2017	3	0	0	0
RONALD ALEXANDER DEN BESTEN	6102155088089	Non-Executive Director	Active	31/07/2017	22	24	0	0
TIMOTHY PAGE	8502095007081	Non-Executive Director	Active	01/09/2017	5	0	0	0
MARC RICHARD FRIEDMAN	8109065025083	Director	Resigned	21/02/2015	3	3	0	0

ACTIVE BUSINESS INTERESTS: JONATHAN WENER

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
IRONMONGERY WAREHOUSE	2010/052076/23	In Business	Active	Trust	0
IRONWARE HANDLES MANUFACTURING	2014/136342/07	In Business	Active	Director	0
HARRIJON PROPERTIES	1995/047263/23	In Business	Active	Trust	0
HARRIJON HOLDINGS	2015/129240/07	In Business	Active	Director	0
IRONMONGERY SPECIFICATION SERVICES	2015/309971/07	In Business	Active	Director	0
IRONMONGERY WAREHOUSE	2008/000601/07	Conversion CO/CC or CC/CO	Active	Director	0

PREVIOUS BUSINE SS INTERESTS: JO NATHAN WENER

Company Name	Registration No	Business Status	Principal Status	Principal Type	Judgments
HARRIJON PROPERTIES	1995/047263/23	In Business	Resigned	Member	0
STAND 527 BORDEAUX	2002/093740/23	Deregistration Final	Resigned	Member	0

ACTIVE BUSINESS INTERESTS: MICH AEL BOTHA

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
BMS BELEGGINGS	2015/445149/07	In Business	Active	Director	0

ACTIVE BUSINESS INTERESTS: NEVA N LUCAS

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
NEVLEIGH INVESTMENTS	2015/118175/07	In Business	Active	Director	0
IRONWARE HANDLES MANUFACTURING	2014/136342/07	In Business	Active	Director	0
IRONMONGERY WAREHOUSE	2010/052076/23	In Business	Active	Member	0

ACTIVE BUSINESS INTERESTS: RONALD ALEXANDER DEN BESTEN

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
DANWET NO 145	1999/005505/07	In Business	Active	Director	0
IMPALA MAINTENANCE AND PROPERTY MANAGEMENT	2012/093623/07	In Business	Active	Director	0
PROSTART PROPERTIES 120	2001/013274/07	AR Final deregistration	Active	Director	0
LUSTIGAAN BELEGGINGS	1965/000350/07	In Business	Active	Director	0
KLAPROPS 56	2001/027449/07	In Business	Active	Director	0
GROWTH CAPITAL PROPERTIES	2009/004650/07	In Business	Active	Director	0
MICAWBER SEAL	2009/004144/07	Voluntary Liquidation	Active	Director	0
TOFO PUBLIC CELLULAR PAYPHONES	2003/019076/07	AR Final deregistration	Active	Director	0
MICAWBER 613	2007/019925/07	Voluntary Liquidation	Active	Director	0
CAPDAN AND ALLIED EQUIPMENT	2015/161788/07	In Business	Active	Non-Executive Director	0
DBF CONSULTING	2013/065065/07	In Business	Active	Director	0
GLOBAL TECHNOLOGY	1996/009809/06	Voluntary Liquidation	Active	Director	0
MICAWBER SANDBOX SHAREHOLDING COMPANY	2008/026126/07	Dissolved	Active	Director	0
ALMIKA PROPERTIES 30	2008/001310/07	In Business	Active	Director	0
DBF INVESTMENTS	2015/183857/07	In Business	Active	Director	0
SPECIALISED VIDEO SOLUTIONS HOLDINGS	2007/026997/07	Voluntary Liquidation	Active	Director	0
DBF HOLDINGS	2013/082791/07	In Business	Active	Director	0
MICAWBER SANDBOX	2009/004128/07	Dissolved	Active	Director	0
CAPDAN AND ALLIED HOLDINGS	2015/143455/07	In Business	Active	Non-Executive Director	0
BUSTRUCK CONVERSIONS	2014/151393/07	In Business	Active	Director	0
GROWTH CAPITAL PARTNERS	2013/229517/07	In Business	Active	Director	0
ALLIED CATERING EQUIPMENT	1984/003215/07	In Business	Active	Director	0

PREVIOUS BUSINESS INTERESTS: RONALD ALEXANDER DEN BESTEN

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
BIPROPS 34	1997/017540/07	AR Final deregistration	Resigned	Director	0
ABRAAJ SOUTH AFRICA ADVISERS	2003/019166/07	In Business	Resigned	Director	0
PFEFFER INVESTMENTS	1967/011285/07	In Business	Resigned	Director	0
LIBSTAR OPERATIONS	2014/062496/07	In Business	Resigned	Director	0
HP LABELLING	1999/012568/07	In Business	Resigned	Director	0
STELLENBOSCH VINEYARDS	1997/000593/07	In Business	Resigned	Director	0
MARKETPRO PROPERTIES 152	2000/002442/07	In Business	Resigned	Director	0
LIBSTAR HOLDINGS	2014/032444/07	In Business	Resigned	Director	0
SA VENTURE CAPITAL AND PRIVATE EQUITY ASSOCIATION	2000/028170/08	In Business	Resigned	Director	0
MICAWBER 754	2009/005087/07	Voluntary Liquidation	Resigned	Director	0
CO-ORDINATED NETWORK INVESTMENTS	1988/007294/07	AR Deregistration Process	Resigned	Director	0
S A BLOCK	1966/002954/07	In Business	Resigned	Director	0
REAL PEOPLE INVESTMENT HOLDINGS	1999/020093/06	In Business	Resigned	Director	0
CORPINVEST 34	1997/017578/07	AR Final deregistration	Resigned	Director	0
SCIENTIFIC ENGINEERING	2000/021173/07	In Business	Resigned	Director	0
S A BLOCK (SAND SALES)	1971/006787/07	Deregistration Final	Resigned	Director	0
CLINKER SUPPLIES	1990/007640/07	In Business	Resigned	Director	0
NEW TELTRON	1998/023664/07	In Business	Resigned	Director	0
KREDITINFORM	1986/003074/07	Deregistration Final	Resigned	Director	0
SOUTHEY SA	2006/039184/07	In Business	Resigned	Director	0
CORPINVEST 35	1997/017581/07	AR Final deregistration	Resigned	Director	0
MICAWBER 755	2009/004998/07	In Business	Resigned	Director	0
PORTULACA INVESTMENT HOLDINGS	2007/004939/07	AR Deregistration Process	Resigned	Director	0
JR 163 INVESTMENTS	1999/011056/07	In Business	Resigned	Director	0

ACTIVE BUSINESS INTERESTS: TIMOTHY PAGE

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
ALDABARA INVESTMENTS	2016/138924/07	In Business	Active	Director	0
K2017378825 (SOUTH AFRICA)	2017/378825/07	In Business	Active	Non-Executive Director	0
K2013191805	2013/191805/07	In Business	Active	Director	0
CAPDAN AND ALLIED EQUIPMENT	2015/161788/07	In Business	Active	Non-Executive Director	0
CIARAVAX	2013/162599/07	In Business	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

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 & Importing
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 wholesale and importing of ironmongery, such as: door locks, hinges, controls, accessories as well as panic hardware and emergency exit and fire doors.
Foreign Trade Activities	International
Major Suppliers	• VIRO LOCKS • CISA • ISEO SOUTH AFRICA • ASSA ABLOY • GEZE SOUTH AFRICA
Major Customers	Subject declined to provide information.
Major Brands	• HENDERSON • CALINI • DORMA • GEZE • ASSA ABLOY • KALE KILIT • FRASCIO
Major Contracts	Subject does not operate on a contract basis.

IMPORT ACTIVITIES

Subject imports.

Imports From	To the value of
• Italy
• Turkey

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 (m^2)	# of Staff	Rented or Owned	Lease Expiry Date
DIEP RIVER	• Warehouse • Office				N/A
SANDTON	Warehouse				N/A
CENTURION	Warehouse				N/A

GENERAL COMMENTS

General Comments Employee and company fleet information was not made available

FINANCING TERMS

GENERAL COMMENTS

General Comments Financing terms were not made available

FINANCIAL FIGURES

GENERAL COMMENTS

General Comments Financial figures not made available.

TRADE REFERENCES

TRADE REFERENCES

Trade Reference	Date	Trade Score	Terms Given (Taken) in days	Monthly Limit Given (Taken)	Account Opened	Payment Trend (prev. 3 years)	Account Insured	Notes
TR180411344	11/04/2018	Neutral	30 Days (30 Days)	1,000,000 (Confidential)	2015	50%	No	This is a good account.
TR180411342	11/04/2018	N/A						Requires a letter of authorisation from the subject on this account. Declined to comment
TR180411341	11/04/2018	Neutral	30 Days (30 Days)	Confidential (Confidential)	2015	50%	No	This is a good account.
TR180411339	11/04/2018	Neutral	30 Days (30 Days)	600,000 (115,000) (ZAR)	2017	50%	No	This is a good account. Monthly purchases range between ZAR50,000 and ZAR180,000.
TR180411337	11/04/2018	Neutral	30 Days (30 Days)	600,000 (150,000) (ZAR)	2017	50%	No	This is a good account. Monthly purchases range between ZAR100,000 and ZAR200,000.

TRADE REFERENCE ANALYTICS

Number of valid Trade References	4
Overall Trade Score	50%
Average Usage of Terms	100%
Average Monthly Purchase	132,500 ZAR

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 65.22
UK Pound	1	INR 92.77
Euro	1	INR 80.34
ZAR	1	INR 5.40

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.