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MIRA INFORM REPORT
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Report No. : |
491633 |
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Report Date : |
27.02.2018 |
IDENTIFICATION DETAILS
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Name : |
AQUILLA BUSINESS DEVELOPMENT PTY LTD |
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Formerly Known As : |
BIZ AFRIKA 838 |
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Registered Office : |
15 oppikruin fiskaal streetglen
marais 1619 |
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Country : |
South Africa |
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Date of Incorporation : |
11.03.1999 |
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Com. Reg. No.: |
1999/024550/07 |
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Legal Form : |
Private Company |
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Line of Business : |
The subject is involved in the wholesale supply of locks,
keys, hinges and safes |
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No. of Employees : |
75 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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South Africa |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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; in late 2016 they issued a request for bids to revamp South Africa’s nuclear power generating capabilities. Load shedding and resulting rolling blackouts gripped many parts of South Africa in late 2014 and early 2015 because of electricity supply constraints due to technical problems at some generation units, unavoidable planned maintenance, and an accident at a power station.
South Africa's economic policy has focused on controlling inflation; 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; as of December 2016, most major international credit ratings agencies placed South Africa only one level above junk bond status.
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Source
: CIA |
Executive
Summary
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Executive Summary |
The subject is well established. No judgments recorded against the subject. There are no principal judgments. There are accounts are on hold. The subject is considered equal to its normal business engagements. The negative payment trend should be borne in mind. |
COMPANY
INFORMATION
OVERVIEW
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History |
AQUILLA BUSINESS DEVELOPMENT
(PTY) LTD, trading as L AND B SECURITY WHOLESALERS, was established in May 1999
when the details of a shelf company styled BIZ AFRIKA 838 (PTY) LTD were
utilised for registration purposes. Operations commenced in November 1999 and
the name was changed to the current name in April 2000. |
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STATUTORY
INFORMATION
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Registered Name |
AQUILLA BUSINESS DEVELOPMENT |
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Trading As |
L AND B SECURITY WHOLESALERS |
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Previous Names |
BIZ AFRIKA 838 (14/04/2000) |
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Registration Number |
1999/024550/07 |
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Type Of Company |
Private Company |
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Registered Date |
11/03/1999 |
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Date Commenced Trading |
November 1999 |
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Commercial Status |
In Business |
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Financial Year End |
February |
CONTACT
DETAILS
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Contact Number |
+27 11 398 4300 |
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Email Address |
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Fax Number |
+27 11 398 4319 |
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Website |
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Social Media Presence |
Facebook |
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Registered Physical Address |
15 OPPIKRUIN FISKAAL STREET GLEN MARAIS South Africa 1619 |
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Trading Physical Address |
Unit 8; The Warehouse; Corner
Deodar & Constantia Roads Pomona KEMPTON PARK Gauteng South Africa 1619 |
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Postal Address |
P O Box 7823 Birchleigh KEMPTON PARK Gauteng South Africa 1621 |
TAX
INFORMATION
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TAX INFORMATION |
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Income Tax Number |
938090641 |
VAT
INFORMATION
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VAT Status |
The subject is registered for VAT (VAT number/s made
available) |
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VAT Number |
4930218484 |
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Status |
Active |
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Registered Name |
AQUILLA BUSINESS DEVELOPMENT PTY LTD |
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Trading Name |
L & B SECURITY WHOLESALERS |
OFFICERS
AND PROFESSIONAL SERVICES
LIST OF OFFICERS AND
PROFESSIONAL SERVICES
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Type |
Name |
Contact Name |
Contact Number |
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Auditor |
T VOSLOO AND ASSOCIATES INCORPORATED |
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OWNERSHIP
STRUCTURE
GENERAL COMMENTS
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General Comments |
It was stated that the shares are held by the directors.
BRENDAN GRANT PITOUT is the majority shareholder. Further details were
not made available. |
PRINCIPAL
INFORMATION
Director
/ Member
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Full Name 1 ID No. 1
Type |
Status |
DOA |
Active Interests |
Previous Interests |
Judgments |
Fraud Listing |
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BRENDAN GRANT PITOUT |
7912015122087 Director |
Active |
20/02/2003 |
5 |
0 |
0 |
0 |
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CRAIG CLINTON CARRINGTON |
7812265022088 |
Director |
Active |
23/01/2013 |
2 |
0 |
0 |
0 |
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CHRISTIAN GOUWS |
5908285147004 |
Director |
Resigned |
03/11/1999 |
0 |
0 |
0 |
0 |
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CYRIL VICTOR BARRY |
6201255089086 |
Director |
Resigned |
03/11/1999 |
2 |
2 |
0 |
0 |
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VERNON STANLEY PITOUT |
5204065035001 |
Director |
Resigned |
03/11/1999 |
2 |
3 |
0 |
0 |
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ACTIVE BUSINESS INTERESTS: BRENDAN
GRANT PITOUT
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Company Name |
Registration No. |
Business Status |
Principal Status |
Principal Type |
Judgments |
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HK BOYS INVESTMENTS |
2013/139588/07 |
In Business |
Active |
Director |
0 |
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CAMILEON SALES |
2000/023221/07 |
AR Final deregistration |
Active |
Director |
0 |
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COATING TECHNIQUES SA |
2016/177364/07 |
In Business |
Active |
Director |
0 |
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SOVEREIGN LOCK |
2007/035292/07 |
In Business |
Active |
Director |
0 |
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LOVELLS LOCK AND KEY |
1988/004310/23 |
In Business |
Active |
Member |
0 |
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ACTIVE BUSINESS INTERESTS: CRAIG CLINTON CARRINGTON |
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Company Name |
Registration No. |
Business Status |
Principal Status |
Principal Type |
Judgments |
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HK BOYS INVESTMENTS |
2013/139588/07 |
In Business |
Active |
Director |
0 |
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SOVEREIGN LOCK |
2007/035292/07 |
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
BANK ACCOUNTS
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Account Reference Number |
Account Holder |
Account Number |
Bank Name |
Branch Name |
Branch Code |
Verification Status |
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ABB135176 |
AQUILLA BUSINESS DEVELOPMENT (PTY) LTD |
1014832403 |
NEDBANK |
GAUTENG EAST |
187505 |
Verified by Bank Code |
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OPERATIONAL
ACTIVITIES
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Operational Activities Status |
The following information was provided |
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Industry |
Wholesale |
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Major Industry SIC Code |
466 - Other specialised wholesale |
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NACE Code |
46,7 - Other specialised wholesale |
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MAJOR
OPERATION
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Major Business Activities |
The subject is involved in the wholesale supply of locks, keys, hinges and safes. |
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Foreign Trade Activities |
International |
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Agencies Held |
Subject holds no agencies. |
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Franchises Held |
The subject holds no franchises. |
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Major Suppliers |
• KNOBS AND KNOCKERS • ULTRAFAB • FIRSTLOCK • LAW PRINT • NUCO DISTRIBUTORS |
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Major Customers |
• STEINBUILD • BUILDERS MART • MICA • NJR STEEL • BUILD IT • FH CHAMBERLAINS • CASHBUILD |
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Major Brands |
• AZTEC • ABUS • SOVEREIGN • SILCA • ECONOMAX |
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Major Contracts |
Subject does not operate on a contract basis. |
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IMPORT
ACTIVITIES
Subject imports.
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Imports From |
To the value of |
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• China |
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• India |
4,000,000 ZAR |
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• Spain |
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EXPORT
ACTIVITIES
Subject exports
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Exports To |
To the value of |
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• Lesotho |
18,000,000 ZAR |
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• Swaziland |
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• Botswana |
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• Namibia |
OPERATIONAL
FOOTPRINT
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Operational Footprint Status |
The following information was provided |
BRANCH
& PREMISES INFORMATION
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Location |
Description/Type |
Size (m2) |
# of Staff |
Rented or Owned |
Lease Expiry Date |
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POMONA |
Warehouse |
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Leased |
N/A |
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DURBAN |
Office |
300 |
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Leased |
30/06/2019 |
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BLOEMFONTEIN |
Office |
250 |
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Leased |
31/07/2018 |
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EMPLOYEES
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Permanent Employees |
75 |
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Salaried Employees |
75 |
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Contracted Employees |
1 |
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Casual Employees |
4 |
COMPANY FLEET
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Total Vehicles |
11 |
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The fleet is made up of: |
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Cars / SUV's |
5 |
Owned |
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Light Delivery Vehicles |
6 |
Owned |
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FINANCING
TERMS
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FINANCING TERMS |
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Sales Terms |
30 Days |
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Overdraft Facility |
The Subject does not have an overdraft facility |
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Sureties |
The Principals have signed sureties |
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Debtors Ceded |
Debtors have been ceded. |
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Debtors Factored |
Debtors have been factored. |
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Bonds |
Details Declined |
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FINANCIAL FIGURES
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GENERAL
COMMENTS |
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General Comments |
Financial information was declined. |
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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 |
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TR180223187 |
23/02/2018 |
Negative |
30 Days (60-90 Days) |
Confidential (Confidential) |
2012 |
33% |
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Unknown |
This is a bad account.
The subject pays late and the account is always on hold. |
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TR180223186 |
23/02/2018 |
Neutral |
30 Days (30 Days) |
Open Account (150,000) (ZAR) |
2011 |
67% |
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Unknown |
This is a good account. Monthly purchases range between
ZAR50,000 and ZAR250,000. |
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TR180223185 |
23/02/2018 |
Positive |
30 Days (30 Days) |
Open Account (850,000) (ZAR) |
2005 |
100% |
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No |
This is a very good account which receives a 5% discount.
Monthly purchases range between ZAR500,000 and ZAR1,200,000. |
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TR170221128 |
21/02/2017 |
Negative |
30 Days (60 Days) |
100,000 (Confidential) |
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0% |
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Yes |
The subject pays over terms and this is considered a
problem. The subject last purchased in November 2016. |
TRADE
REFERENCE ANALYTICS
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Number of valid Trade
References |
10 |
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Overall Trade Score |
60% |
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Average Usage of Terms |
113% |
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Average Monthly Purchase |
450,714 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 |
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US Dollar |
1 |
INR 64.66 |
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|
1 |
INR 90.65 |
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Euro |
1 |
INR 79.70 |
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ZAR |
1 |
INR 5.60 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
PRI |
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.