MIRA INFORM REPORT

Report No. :	502193
Report Date :	16.04.2018

IDENTIFICATION DETAILS

Name :	GELMAR (PTY) LTD
Registered Office :	20 Rustic Close, Briardene Industrial Park, Durban North Kwa-Zulu Natal 4051
Country :	South Africa
Date of Incorporation :	30.10.1935
Com. Reg. No.:	1935/007335/07
Legal Form :	Private Company
Line of Business :	· Wholesale of hardware and locks. · Wholesale of hardware, plumbing and heating equipment and supplies.
No. of Employees :	Not Available

RATING & COMMENTS

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

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Good
Payment Behaviour :	Regular
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

The subject was uncooperative. The subject is very well established. No judgments recorded against the subject. Accounts are paid on due date. The subject has an excellent reputation. The lack of financial information should be borne in mind.

COMPANY INFORMATION

OVERVIEW

History

GELMAR (PTY) LTD was established in October 1935, and commenced operations immediately.

STATUTORY INFORMATION

Registered Name	GELMAR
Registration Number	1935/007335/07
Type Of Company	Private Company
Registered Date	30/10/1935
Date Commenced Trading	30/10/1935
Commercial Status	In Business
Financial Year End	February

CONTACT DETAILS

Contact Number	+27 31 573 2490
Email Address	Bheem@gelmar.co.za
Fax Number	+27 31 563 5344
Website	www.gelmar.co.za
Social Media Presence	Facebook; Twitter; YouTube; Instagram
Registered Physical Address	20 RUSTIC CLOSE BRIARDENE INDUSTRIAL PARK DURBAN NORTH KWA-ZULU NATAL South Africa 4051
Trading Physical Address	20 Rustic Close; Briardene Industrial Park Durban North DURBAN Kwa-Zulu Natal South Africa 4051
Postal Address	Kwa-Zulu Natal P O Box 2753 DURBAN NORTH South Africa 4000

GENERAL COMMENTS

Comments

The respondent declined to provide any information without details of the enquirer. Any information contained in this report was obtained from historical information obtained in June 2017, outside sources and public information and is thus unconfirmed by the subject.

TAX INFORMATION

TAX INFORMATION
Income Tax Number	9104002200
VAT INFORMATION
VAT Status	The subject is registered for VAT (VAT number/s made available)
VAT Number	4270107271
Status	Active
Registered Name	GELMAR (PTY) LTD

OFFICERS AND PROFESSIONAL SERVICES

LIST OF OFFICERS AND PROFESSIONAL SERVICES

Type	Name	Contact Name	Contact Number
Auditor	PRICEWATERHOUSECOOPERS INC	-	-
Insurance	SMYTHE INSURANCE BROKERS	MIKE	+27317010226

OWNERSHIP STRUCTURE

SHAREHOLDING INFORMATION

CURRENT

Shareholder/Member Name	Share/Interest	Type	Comment
ROBERT CECIL GELDARD	75.00%	Shareholder	-
DEBORAH DOIG	25.00%	Shareholder	-

PRINCIPAL INFORMATION

Director / Member

Full Name	ID No.	Type	Status	DOA	Active Interests	Previous Interests	Judgments	Fraud Listing
BHEEM RAJCOOMAR RAMASAR	6309255045089	Director	Active	08/05/2014	2	0	0	0
DEBORAH DOIG	6910160143081	Director	Active	01/03/2009	0	0	0	0
ROBERT CECIL GELDARD	4407065037080	Director	Active	16/09/1993	0	2	0	0
YOGAVALLIE GOVENDER	6710100220084	Director	Active	08/05/2014	0	0	0	0

ACTIVE BUSINESS INTERESTS: BHEEM RAJCOOMAR RAMASAR

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
GBB HARDWARE	2001/059577/23	Deregistration Final	Active	Member	0
GBB HARDWARE	2001/059577/23	Deregistration Final	Active	Director	0

PREVIOUS BUSINESS INTERESTS: ROBERT CECIL GELDARD

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
LE MAC TIMBER PRODUCTS	1998/021494/23	AR Final deregistration	Resigned	Member	0
GBB HARDWARE	2001/059577/23	Deregistration Final	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
ABB142847	GELMAR (PTY) LTD	1011474832	NEDBANK	DURBAN	198765	Verified by Bank Code
ABB121594	GELMAR (Pty) Ltd	1011474832	Nedbank (South Africa)	187505	187505	Verified by Bank Code

OPERATIONAL ACTIVITIES

Operational Activities Status	The subject declined to provide the information
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 operates as an importer, manufacturer and wholesaler of furniture fittings, such as: hinges, locks, handles, kitchen fittings and drawer runners.
Foreign Trade Activities	International
Agencies Held	Subject holds no agencies.
Franchises Held	GELMAR (Franchise)
Major Suppliers	· SYNERGY WORLDWIDE LOGISTICS · FRANKE · RUWAG · ROYAL ADHESIVE · VERMONT SALES
Major Customers	Furniture manufacturers
Major Brands	GELMAR
Major Contracts	Subject does not operate on a contract basis.

IMPORT ACTIVITIES

Subject imports

Imports From	To the value of
Thailand
China	60,000,000 ZAR
Asia

EXPORT ACTIVITIES

Subject exports

Exports To	To the value of
Africa	--

GENERAL COMMENTS

General Comments

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

OPERATIONAL FOOTPRINT

Operational Footprint Status

The subject declined to provide the information

BRANCH & PREMISES INFORMATION

Location	Description/Type	Size (m2 )	# of Staff	Rented or Owned	Lease Expiry Date
DURBAN	Office Warehouse Factory			Leased	N/A

GENERAL COMMENTS

General Comments

The subject declined to provide the information.

FINANCING TERMS

FINANCING TERMS

Sales Terms	30 Days
Overdraft Facility	The Subject does not have an overdraft facility
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 declined.

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
TR180409263	09/04/2018	Positive	30 Days (30 Days)	7,500,000 (3,500,000)	2003	100%	100%	Yes	This is an excellent account.
TR180409262	09/04/2018	Positive	30 Days (30 Days)		2012	100%		No	This is an excellent account, receiving a 5% discount. Monthly purchases exceed the limit, however, this is not considered a problem.
TR180409258	09/04/2018	N/A	-	-	-	100%	75%	-	Awaiting response
TR180409256	09/04/2018	Positive	30 Days (25 Days)	Confidential (Confidential)	2008	100%	75%	Yes	This is an excellent account

TRADE REFERENCE ANALYTICS

Number of valid Trade References	12
Overall Trade Score	92%
Average Usage of Terms	100%
Average Monthly Purchase	1,273,125 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 5.42

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

INFORMATION DETAILS

Analysis Done by :	NIY
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)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.