|
|
|
MIRA
INFORM REPORT
|
Report No. : |
493953 |
|
Report Date : |
13.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
BAYLINE SEA FOODS PTY LTD |
|
|
|
|
Formerly Known As : |
BOATHOUSE TRADING 104 |
|
|
|
|
Registered Office : |
101 Rubicor House, 17 Stanhope Road Claremont, 7700 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
03.05.2004 |
|
|
|
|
Com. Reg. No.: |
2004/011545/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
The subject is involved in the importing and wholesale of frozen and fresh sea foods, and poultry |
|
|
|
|
No. of Employees : |
35 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
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 summery
|
Executive summery |
Subject was unresponsive. The subject is well established. No judgments recorded against the subject. There are no principal judgments.Accounts are paid on due date. The subject is considered equal to its normal business engagements. |
COMPANY INFORMATION
OVERVIEW
|
History |
BAYLINE SEA FOODS (PTY) LTD was established in May
2004 when a shelf entity styled BOATHOUSE TRADING 104 (PTY) LTD was utilised
for registration purposes. The subject underwent a name change in September
2004 to its current name. |
|
STATUTORY
INFORMATION
|
Registered Name |
BAYLINE SEA FOODS |
|
|
Previous Names |
BOATHOUSE TRADING 104
(06/09/2004) |
|
|
Registration Number |
2004/011545/07 |
|
|
Type Of Company |
Private Company |
|
|
Registered Date |
03/05/2004 |
|
|
Date Commenced Trading |
06/09/2004 |
|
|
Commercial Status |
In Business |
|
|
Financial Year End |
February |
|
CONTACT
DETAILS
|
Contact Number |
+27 21 510 1804 |
|
|
Email Address |
|
|
|
Fax Number |
+27 21 510 1806 |
|
|
Website |
|
|
|
Social Media Presence |
Facebook; LinkedIn |
|
|
Registered Physical Address |
101 RUBICOR HOUSE 17 STANHOPE ROAD CLAREMONT South Africa 7700 |
|
|
Trading Physical Address |
Unit 7; Rosbur Park; Neptune
Street Paarden Eiland CAPE TOWN Western Cape South Africa 6665 |
|
|
Postal Address |
P O Box 23081 Claremont CAPE TOWN Western Cape South Africa 7735 |
|
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 records and is thus unconfirmed
by the subject |
TAX INFORMATION
TAX INFORMATION
Income Tax Number 9255692155
VAT INFORMATION
|
VAT Status |
The subject is registered for VAT (VAT number/s made
available) |
|
|
VAT Number |
4050213265 |
|
|
Status |
Active |
|
|
Registered Name |
BAYLINE SEA FOODS PTY LTD |
|
|
Trading Name |
BAYLINE SEA FOODS PTY LTD |
|
OFFICERS AND PROFESSIONAL SERVICES
LIST OF OFFICERS AND
PROFESSIONAL SERVICES
|
Type |
Name |
Contact Name |
Contact Number |
|
|
Auditor |
L RUBIN AND COMPANY |
|
+27216715045 |
|
|
Insurance |
NEDBANK INSURANCE BROKERS |
LINDA GIRD |
+27860104526 |
|
OWNERSHIP STRUCTURE
SHAREHOLDING
INFORMATION
CURRENT
|
Shareholder/Member Name |
Share/Interest |
Type |
Comment |
|
|
ROBERT BURNS |
50.00% |
Shareholder |
|
|
|
JON-ROSS BURNS |
25.00% |
Shareholder |
|
|
|
STEPHEN ROBERT BURNS |
25.00% |
Shareholder |
|
|
PRINCIPAL INFORMATION
Director
/ Member
|
Full Name ID No. |
Type |
Status |
DOA |
Active Interests |
Previous Interests |
Judgments |
Fraud Listing |
|
|
|
JON-ROSS BURNS |
8301265136089 |
Director |
Active |
01/11/2005 |
0 |
0 |
0 |
0 |
|
|
ROBERT BURNS |
5612205168104 |
Director |
Active |
08/06/2004 |
1 |
0 |
0 |
0 |
|
|
STEPHEN ROBERT BURNS |
7903110000000 |
Director |
Active |
08/06/2004 |
3 |
0 |
0 |
0 |
|
|
CATHERINA DORA DU PLESSIS |
5212200167001 |
Director |
Resigned |
03/05/2004 |
0 |
0 |
0 |
0 |
|
ACTIVE BUSINESS
INTERESTS: ROBERT BURNS
|
Company Name |
Registration No. |
Business Status |
Principal Status |
Principal Type |
Judgments |
|
ELELA PROPERTY INVESTMENTS |
1997/019868/07 |
AR Final deregistration |
Active |
Director |
0 |
ACTIVE BUSINESS INTERESTS: STEPH EN ROBERT BURNS
|
Company Name |
Registration No. |
Business Status |
Principal Status |
Principal Type |
Judgments |
|
LONDON BUSINESS AND COMPUTER COLLEGE |
2009/129923/23 |
AR Final deregistration |
Active |
Member |
AR Final deregistration |
|
FORBEN AND SONS DEMOLITION AND RENOVATION |
2012/045642/07 |
AR Deregistration Process |
Active |
Director |
0 |
|
NEZICH CHEM |
2012/063802/07 |
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
|
Account Reference Number |
Account Holder |
Account Number |
Bank Name |
Branch Name |
Branch Code |
Verification Status |
|
|
ABB122796 |
BAYLINE SEA FOODS (Pty) Ltd |
1232102288 |
Nedbank (South Africa) |
SOUTH PENINSULA |
198765 |
Verified by Bank Code |
|
OPERATIONAL ACTIVITIES
|
Operational Activities
Status |
The following information
was provided |
|
|
Industry |
Wholesale |
|
|
Major Industry SIC Code |
46301 - Wholesale of meat
and meat products |
|
|
NACE Code |
46,38 - Wholesale of other
food, including fish, crustaceans and molluscs |
|
MAJOR
OPERATION
|
Major Business Activities |
The subject is involved in
the importing and wholesale of frozen and fresh sea foods, and poultry. |
|
|
Foreign Trade Activities |
International |
|
|
Agencies Held |
Subject holds no agencies. |
|
|
Franchises Held |
The subject holds no
franchises. |
|
|
Major Suppliers |
• SEA HARVEST • PREMIER
FISHING • BRECO • SIALE |
|
|
Major Customers |
• The retail industry • The hospitality industry |
|
|
Major Brands |
Subject has brands, but
declined information. |
|
|
Major Contracts |
Subject does not operate on
a contract basis. |
|
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 |
|
|
CAPE TOWN |
Office Warehouse Storage Facility |
|
|
|
N/A |
|
Employees
|
Permanent Employees |
35 |
|
|
Salaried Employees |
35 |
|
GENERAL COMMENTS
|
|
|
General Comments |
Fleet details not made available |
FINANCING TERMS
|
GENERAL COMMENTS |
|
|
|
General Comments |
Financing terms were were 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 |
|
||
|
TR180305121 |
05/03/2018 |
N/A |
|
|
|
|
|
|
|
No record of account |
|
|
TR180302207 |
02/03/2018 |
Positive |
30 Days (30 Days) |
Confidential (Confidential) |
2012 |
100% |
|
|
Yes |
This is an excellent account. |
|
|
TR180302201 |
02/03/2018 |
Neutral |
30 Days (30 Days) |
Confidential (30,000) (ZAR) |
2011 |
50% |
|
|
No |
This is a good account. |
|
|
TR17101879 |
18/10/2017 |
N/A |
|
|
|
|
|
|
|
Company policy not to provide trade references |
|
|
TR17101878 |
18/10/2017 |
N/A |
|
|
|
|
|
|
|
Number rings unanswered |
|
|
TR17101875 |
18/10/2017 |
Neutral |
30 Days (30 Days) |
Confidential (Confidential) |
2012 |
50% |
|
|
Yes |
This is a very good account. |
|
TRADE REFERENCE
ANALYTICS
|
Number of valid Trade
References |
3 |
|
Overall Trade Score |
67% |
|
Average Usage of Terms |
100% |
|
Average Monthly Purchase |
30,000 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 65.02 |
|
|
1 |
INR 90.12 |
|
Euro |
1 |
INR 80.91 |
|
ZAR |
1 |
INR 5.49 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.