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MIRA INFORM REPORT
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Report No. : |
482837 |
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Report Date : |
11.01.2018 |
IDENTIFICATION DETAILS
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Name : |
GROUP WRECK INTERNATIONAL NON-FERROUS (PTY) LTD |
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Formerly Known As : |
ANSAFLO |
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Registered Office : |
7
Vulcan Place Phoenix Industrial Park Phoenix KWA-Zulu Natal 4068 |
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Country : |
South Africa |
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Date of Incorporation : |
04.09.2009 |
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Com. Reg. No.: |
2009/017298/07 |
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Legal Form : |
Private Company |
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Line of Business : |
The subject is involved in the recycling and
wholesale of non-ferrous and stainless steel scrap metal products. The
subject also undertakes the process of sorting, shearing, baling and packaging
of these products for export purposes. |
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No. of Employees : |
90 |
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 : |
Unknown |
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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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
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 0.3% in 2016. Unemployment, poverty, and inequality - among the highest in the world - remain a challenge. Official unemployment is roughly 26% 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
The subject was uncooperative, therefore we are unable
to comment on your enquiry.
COMPANY INFORMATION
OVERVIEW
|
History |
GROUP WRECK INTERNATIONAL NON-FERROUS (PTY) LTD was registered
in September 2009 as ANSAFLO and operations commenced immediately. In
September 2009, the subject underwent a name change to the current name. |
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STATUTORY INFORMATION
|
Registered
Name |
GROUP WRECK INTERNATIONAL NON-FERROUS |
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|
Previous
Names |
ANSAFLO (17/09/2009) |
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Registration
Number |
2009/017298/07 |
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Type
Of Company |
Private Company |
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Registered
Date |
04/09/2009 |
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Date
Commenced Trading |
04/09/2009 |
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Commercial
Status |
In Business |
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Financial
Year End |
February |
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CONTACT
DETAILS
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Contact
Number |
+27 31 500 3725 |
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Email
Address |
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Fax
Number |
+27 31 500 3740 |
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Website |
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Social
Media Presence |
Facebook |
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Registered
Physical Address |
7 VULCAN PLACE PHOENIX INDUSTRIAL PARK PHOENIX
KWA-ZULU NATAL South Africa 4068 |
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Trading
Physical Address |
22 Martin Drive Queensmead Industrial Area
QUEENSBURGH KwaZulu-Natal South Africa 4093 |
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Postal
Address |
Postnet Suite 253; Private Bag X0001 BALLITO KwaZulu-Natal South Africa 4420 |
GENERAL COMMENTS
|
Comments |
The subject declined to provide any information without
details of the enquirer. 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 9128802171
VAT INFORMATION
|
VAT Status |
The subject is registered for VAT (VAT number/s made available) |
|
VAT Number |
4890254347 |
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Status |
Active |
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Registered Name |
GROUP WRECK INTERNATIONAL NON-FERROUS (PTY) LTD |
|
Trading Name |
GROUP WRECK INTERNATIONAL NON-FERROUS |
OFFICERS AND
PROFESSIONAL SERVICES
LIST OF OFFICERS AND PROFESSIONAL SERVICES
|
Type |
Name |
Contact
Name |
Contact
Number |
|
|
Auditor |
NEXIA LEVITT KIRSON |
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|
|
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Auditor |
LSG INTEGRATED |
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Auditor |
RUSSELL JAMES AND COMPANY INCORPORATED |
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OWNERSHIP STRUCTURE
GENERAL
COMMENTS
General
Comments Shareholding information was
declined.
PRINCIPAL INFORMATION
Director / Member
|
Full Name |
ID No. |
Type |
Status |
DOA |
Active Interests |
Previous Interests |
Judgments |
Fraud Listing |
|
ANGELO SOLIMENE |
5901275162083 |
Director |
Active |
29/09/2009 |
3 |
1 |
0 |
0 |
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BENJAMIN DAVID MARC JASSINOWSKY |
6311045047086 |
Director |
Active |
19/05/2014 |
8 |
0 |
0 |
0 |
|
ALAD YARIV |
7710285213085 |
Director |
Resigned |
29/09/2009 |
8 |
0 |
0 |
0 |
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CHRISTIAN GOUWS |
5908285147087 |
Director |
Resigned |
04/09/2009 |
0 |
0 |
0 |
0 |
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JACOB ROZENTVAIG |
4106305041080 |
Director |
Resigned |
29/09/2009 |
1 |
4 |
0 |
0 |
|
YUVAL PIERRE ROZENTVAIG |
7103295317080 |
Director |
Resigned |
18/01/2013 |
46 |
2 |
0 |
0 |
ACTIVE BUSINESS INTERESTS: ANGELO
SOLIMENE
|
Company
Name |
Registration
No. |
Business
Status |
Principal
Status |
Principal
Type |
Judgments |
|
QUANTITYTIMES TRADING 24 |
2010/023995/07 |
In Business |
Active |
Director |
0 |
|
ERF 1682 BRYANSTON |
1999/049813/23 |
Deregistration Final |
Active |
Member |
0 |
|
TOTTON TRADING |
2011/053828/23 |
In Business |
Active |
Member |
0 |
PREVIOUS BUSINESS INTERESTS:
ANGELO SOLIMENE
|
Company
Name |
Registration
No. |
Business
Status |
Principal
Status |
Principal
Type |
Judgments |
|
AFRICA WESITIMELA IMISHINI |
2006/026696/07 |
In Business |
Resigned |
Director |
0 |
ACTIVE BUSINESS INTERESTS:
BENJAMIN DAVID MARC JASSINOWSKY
|
Company
Name |
Registration
No. |
Business
Status |
Principal
Status |
Principal
Type |
Judgments |
|
A A METAL RECYCLERS |
2012/065245/07 |
In Business |
Active |
Director |
0 |
|
K2017053326 (SOUTH AFRICA) |
2017/053326/07 |
In Business |
Active |
Director |
0 |
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MONDOSYS |
2010/014022/07 |
In Business |
Active |
Director |
0 |
|
REPO METALS HOLDINGS |
2010/006175/07 |
In Business |
Active |
Director |
0 |
|
ABEDDAC GROUP |
2016/280570/07 |
In Business |
Active |
Director |
0 |
|
GARJASS PROPERTIES |
2015/116635/07 |
In Business |
Active |
Director |
0 |
|
VEICOLI ELITE AUTO |
2017/425133/07 |
In Business |
Active |
Director |
0 |
|
A A METAL RECYCLERS |
2007/238921/23 |
Conversion CO/CC or CC/CO |
Active |
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
GENERAL
COMMENTS
General
Comments Banking
details were not made available
OPERATIONAL ACTIVITIES
|
Operational
Activities Status |
The following information was provided |
|
Industry |
Services |
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Major
Industry SIC Code |
38110 - Collection of recyclable materials |
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Secondary
Industry SIC Code(s) |
Other wholesale of waste and scrap and other
products n.e.c. |
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NACE
Code |
46,77 - Wholesale of waste and scrap |
MAJOR OPERATION
|
Major
Business Activities |
The subject is involved in the recycling and wholesale
of non-ferrous and stainless steel scrap metal products. The subject also
undertakes the process of sorting, shearing, baling and packaging of these
products for export purposes. |
|
Foreign
Trade Activities |
National |
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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 |
Subject declined to provide information. |
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Major
Customers |
Subject declined to provide information. |
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Major
Brands |
Subject does not have any brands. |
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Major
Contracts |
Subject does not operate on a contract basis. |
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 |
|
QUEENSBURGH |
• Yard • Office |
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|
|
N/A |
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PHOENIX INDUSTRIAL PARK |
• Yard • Office |
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|
|
N/A |
EMPLOYEES
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Permanent
Employees |
90 |
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|
Salaried Employees |
90 |
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GENERAL COMMENTS
|
General
Comments |
Fleet information was not made available. |
FINANCING TERMS
GENERAL COMMENTS
General Comments Financing terms were
declined
FINANCIAL FIGURES
GENERAL COMMENTS
General Comments Financial information was declined
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 63.83 |
|
|
1 |
INR 86.28 |
|
Euro |
1 |
INR 76.13 |
|
ZAR |
1 |
INR 5.13 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
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|
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
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 |
|
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.