MIRA INFORM REPORT

Report No. :	502196
Report Date :	19.04.2018

IDENTIFICATION DETAILS

Name :	S.A.LOCK TRADING (PTY) LTD

Registered Office :	Unit 8 Meadowdale Business Park Herman Street Meadowdale Gauteng 1614

Country :	South Africa

Date of Incorporation :	13.05.2014

Com. Reg. No.:	2014/093753/07

Legal Form :	Private Company

Line of Business :	The subject is involved in the wholesale of keys, locks, padlocks and related hardware.

No. of Employees :	38

RATING & COMMENTS

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

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate

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

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

South Africa

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 has a short track record. No judgments recorded against the subject. Accounts are paid on due date. The lack of financial information should be borne in mind. The subject considered equal to a maximum enquiry amount of 250, 000 ZAR over 30 days.

TAX INFORMATION

TAX INFORMATION

Income Tax Number

9912645158

VAT INFORMATION

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

VAT Number	4270265871
Status	Active
Registered Name	S.A.LOCK TRADING (PTY) LTD

OFFICERS AND PROFESSIONAL SERVICES

LIST OF OFFICERS AND PROFESSIONAL SERVICES

Type	Name		Contact Name	Contact Number
Auditor	RWFC FINANCIAL CONSULTANTS INC

OWNERSHIP STRUCTURE

SHAREHOLDING INFORMATION

CURRENT

Shareholder/Member Name	Share/Interest	Type	Comment
JOHANNES THEODORUS STRYDOM	50.00%	Shareholder
ROBERT FARLY SAVITS	50.00%	Shareholder

PRINCIPAL INFORMATION

Director / Member

Full Name	ID No.	Type	Status	DOA	Active Interests	Previous Interests	Judgments	Fraud Listing
JOHANNES THEODORUS STRYDOM	7707155094082	Director	Active	04/07/2016	1	1	0	0
ROBERT FARLEY SAVITZ	5109125051080	Director	Active	04/07/2016	0	1	0	0
BEVERLEY SAVITZ	5702110031081	Director	Resigned	13/05/2014	2	0	0	0

ACTIVE BUSINESS INTERESTS: JOHANNES THEODORUS STRYDOM

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
DON PRODUCTIONS	1994/005438/23	AR Final deregistration	Active	Member	0

PREVIOUS BUSINESS INTERESTS: JOHANNES THEODORUS STRYDOM

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
AMERICAN OFFROAD	2005/108427/23	AR Final deregistration	Resigned	Member	0

PREVIOUS BUSINESS INTERESTS: ROBERT FARLEY SAVITZ

Company Name

Registration No.

Business Status

Principal Status

Principal Type

Judgments

RENMAR INDUSTRIAL

TRADING

2011/115893/07

AR Deregistration Process

Resigned

Director

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 ACCOUNT CLIENT REQUESTED DETAILS

Account Reference

Number

Account Holder

Account Number

Bank Name

Branch Name

Branch Code

Verification Status

ABB152346

S.A. LOCK TRADING (PTY) LTD

220198993

Standard Bank (South Africa)

Unknown

051001

Verified by Bank Code

OPERATIONAL ACTIVITIES

Operational Activities Status	The following information was provided
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 of keys, locks, padlocks and related hardware.
Foreign Trade Activities	International
Agencies Held	Subject holds no agencies.
Franchises Held	The subject holds no franchises.
Major Suppliers	• UNION LOCKS SA • DORMA LOCKS SA • MASTER LOCKS • VIRO LOCKS • ISEO LOCKS SA
Major Customers	Hardware stores
Major Brands	• DORMA • JIS • ISEO • INYATI • VIRO • ERREBI • TRI CIRCLE • MASTER LOCKS • UNION
Major Contracts	Subject operates on a contract basis, but declined information.

IMPORT ACTIVITIES

Subject imports

Imports From

To the value of

• Hong Kong

• China

EXPORT ACTIVITIES

Subject exports

Exports To	To the value of
Africa

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

MEADOWDALE

• Office

• Retail Outlet

Leased

N/A

CAPE TOWN

• Office

• Retail Outlet

N/A

EMPLOYEES

Permanent Employees 38

COMPANY FLEET

Total Vehicles 3

The fleet is made up of:

Light Delivery Vehicles 3

FINANCING TERMS

FINANCING TERMS

Sales Terms	30 Days
Overdraft Facility	The Subject has an overdraft facility.
Overdraft Usage	Regularly
Sureties	Details have been declined
Debtors Ceded	Details have been declined.
Debtors Factored	Details have been declined.
Bonds	Details Declined

GENERAL COMMENTS

General Comments

Full financing terms were declined.

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
TR180409319	09/04/2018	Neutral	30 Days (30 Days)	500,000 (160,000) (ZAR)	2014	50%	Yes	This is a good account. Monthly purchases range between ZAR120,000 and ZAR200,000.
TR180409318	09/04/2018	Neutral	60 Days (60 Days)	350,000 (85,000) (ZAR)	2012	50%	No	This is a good account. Monthly purchases range between ZAR20,000 and ZAR200,000.
TR180409316	09/04/2018	Neutral	30 Days (30 Days)	Confidential (Confidential)		50%		This is a good account.
TR180409315	09/04/2018	Positive	30 Days (30 Days)	150,000 (150,000) (ZAR)	2013	75%	No	This is an excellent account, receiving a 2.5% settlement discount.
TR17110357	03/11/2017	N/A						Company policy not to provide trade references

TRADE REFERENCE ANALYTICS

Number of valid Trade References	6
Overall Trade Score	58%
Average Usage of Terms	100%
Average Monthly Purchase	151,000 ZAR
Average Usage of Credit Limit	49%

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 65.68
UK Pound	1	INR 93.98
Euro	1	INR 81.30
ZAR	1	INR 5.52

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

INFORMATION DETAILS

Analysis Done by :	VAR

Report Prepared by :	TRU

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.

Registered Name	S.A.LOCK TRADING (PTY) LTD
Registration Number	2014/093753/07
Type Of Company	Private Company
Registered Date	13/05/2014
Date Commenced Trading	13/05/2014
Commercial Status	In Business
Financial Year End	March

Contact Number	+27 10 140 0444
Email Address	Marita@salock.co.za
Fax Number	+27 86 426 3320
Website	www.salock.co.za
Social Media Presence	Facebook; LinkedIn; Twitter; Pinterest; Google+
Registered Physical Address	UNIT 8 MEADOWDALE BUSINESS PARK HERMAN STREET MEADOWDALE GAUTENG South Africa 1614
Trading Physical Address	Unit 8 A and B; Meadowdale Business Park; Corner Dick Kemp and Herman Street Meadowdale JOHANNESBURG Gauteng South Africa 1614
Postal Address	P O Box 5179 MEADOWDALE Gauteng South Africa 1614