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|
MIRA
INFORM REPORT
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Report No. : |
497579 |
|
Report Date : |
27.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
BRECO PTY LTD |
|
|
|
|
Formerly Known As : |
· CINPROP 0038 · BRECO COLD STORAGE · BRECO (SOUTH AFRICA) INVESTMENTS |
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|
|
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Registered Office : |
4 Printers Way Printers Park Montague Gardens Western Cape, 7441 |
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|
|
|
Country : |
South Africa |
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Date of Incorporation : |
10.03.1995 |
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|
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Com. Reg. No.: |
1995/002205/07 |
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|
|
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Legal Form : |
Private Company |
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|
|
|
Line of Business : |
The subject is involved in the wholesale
and distribution of frozen fish and seafood. The subject also offers cold
storage services |
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|
|
|
No. of Employees : |
75 |
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 |
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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 (30.09.2017) |
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 |
COMPANY INFORMATION
OVERVIEW
|
History |
BRECO (PTY) LTD was established in March 1995 utilising a shelf entity styled CINPROP 0038 (PTY) LTD for registration purposes and operations commenced immediately. The subject underwent multiple name changes, the latest being in October 2005 from BRECO COLD STORAGE to its current name. |
STATUTORY
INFORMATION
|
Registered Name |
BRECO PTY LTD |
|
|
Previous Names |
• CINPROP
0038 (03/10/1995) • BRECO COLD
STORAGE (24/02/2005) • BRECO
(SOUTH AFRICA) INVESTMENTS (12/06/1998) |
|
|
Registration Number |
1995/002205/07 |
|
|
Type Of Company |
Private Company |
|
|
Registered Date |
10/03/1995 |
|
|
Date Commenced Trading |
10/03/1995 |
|
|
Commercial Status |
In Business |
|
|
Financial Year End |
June |
|
CONTACT DETAILS
|
Contact Number |
+27 21 551 8700 |
|
Email Address |
|
|
Fax Number |
+27 21 551 8668 |
|
Website |
|
|
Social Media Presence |
Facebook; Twitter |
|
Registered Physical Address |
4 PRINTERS WAY PRINTERS PARK MONTAGUE GARDENS WESTERN CAPE South Africa 7441 |
|
Trading Physical Address |
4 Printers Way Montague Gardens CHEMPET Western Cape South Africa 7442 |
|
Postal Address |
P O Box 36637 CHEMPET Western Cape South Africa 7442 |
TAX INFORMATION
TAX INFORMATION
Income Tax
Number 9061002037
VAT INFORMATION
|
VAT Status |
The subject is registered for VAT (VAT number/s made
available) |
|
VAT Number |
4790154308 |
|
Status |
Active |
|
Registered Name |
BRECO PTY LTD |
|
Trading Name |
BRECO PTY LTD |
OFFICERS AND PROFESSIONAL SERVICES
LIST OF OFFICERS AND
PROFESSIONAL SERVICES
|
Type |
Name |
Contact Name |
Contact Number |
|
Auditor |
CECIL KILPIN AND COMPANY |
ANTHONY DEARHAM |
+27215274060 |
|
Insurance |
ABSA INSURANCE BROKERS |
SAMANTHA VAN ZYL |
+27113544005 |
OWNERSHIP STRUCTURE
SHAREHOLDING
INFORMATION
CURRENT
|
Holding Company |
Share |
Type |
Comment |
|
BRECO HOLDINGS (PTY) LTD |
100.00% |
Holding Company |
Incorporated in South Africa |
|
Associated Companies |
Share |
Type |
Comment |
|
REN HOLDINGS |
50.00% |
Associate |
|
|
BRECO CAPE TOWN |
50.00% |
Associate |
|
PRINCIPAL INFORMATION
Director / Member
|
Full Name |
ID No. |
Type |
Status |
DOA |
Active Interests |
Previous Interests |
Judgments |
Fraud Listing |
|
ASHTON INGO MEIER |
8111245250086 |
Director |
Active |
02/10/2017 |
5 |
0 |
0 |
0 |
|
DEAN WARREN STACEY |
7201145151087 |
Director |
Active |
01/04/2015 |
7 |
10 |
0 |
0 |
|
FERDINAND OOSTHUIZEN |
8210165142081 |
Director |
Active |
02/10/2017 |
1 |
1 |
0 |
0 |
|
LUIS MIGUEL DE BRITO FIGUEIREDO |
7102185383087 |
Director |
Active |
02/10/2017 |
17 |
0 |
0 |
0 |
|
ANDRE BOONZAAIER |
6506255004087 |
Director |
Resigned |
31/01/2003 |
4 |
6 |
0 |
0 |
|
ANDREW JONATHAN CARTWRIHT |
451004 |
Director |
Resigned |
03/07/1997 |
0 |
0 |
0 |
0 |
|
COLIN RICHARD BLYTHE- WOOD |
460421 |
Director |
Resigned |
11/06/1998 |
0 |
0 |
0 |
0 |
|
ETIENNE ALBRECHT BRAUN |
6407145131083 |
Director |
Resigned |
31/01/2003 |
10 |
14 |
0 |
0 |
|
GORDON LEONARD LUDSKI |
4008030055057 |
Director |
Resigned |
28/01/1997 |
0 |
0 |
0 |
0 |
|
HAROLD ALAN PALMER |
6009060000000 |
Director |
Resigned |
17/08/2000 |
3 |
2 |
0 |
0 |
|
MALCOLM FOSTER BLACK BLACK |
4612235118005 |
Director |
Resigned |
19/12/1996 |
2 |
2 |
0 |
0 |
|
MARIE FRANCOIS JEAN-RENE D ABBADIE |
4806060000000 |
Director |
Resigned |
17/08/2000 |
0 |
0 |
0 |
0 |
|
NEIL PASCALL |
7301055051085 |
Director |
Resigned |
31/01/2003 |
11 |
8 |
0 |
0 |
|
ROBERT JOHN WHILLIS |
4803040000000 |
Director |
Resigned |
15/05/1998 |
0 |
0 |
0 |
0 |
|
ROBERTO AGOSTINELLI |
6511175133081 |
Director |
Resigned |
31/01/2003 |
2 |
7 |
0 |
0 |
|
RUPERT LAWRENCE WORSDALE |
5508050000000 |
Director |
Resigned |
06/12/1995 |
0 |
0 |
0 |
0 |
ACTIVE BUSINESS
INTERESTS: ASHTON INGO MEIER
|
Company Name |
Registration No. |
Business Status |
Principal Status |
Principal Type |
Judgments |
|
THE SEAFOOD STORE |
2007/049014/23 |
AR Final deregistration |
Active |
Director |
0 |
|
THE SEAFOOD STORE |
2007/049014/23 |
AR Final deregistration |
Active |
Member |
0 |
|
HORISON FISHING |
2007/033487/23 |
AR Final deregistration |
Active |
Director |
0 |
|
BRECO HOLDINGS |
1996/008679/07 |
In Business |
Active |
Director |
0 |
|
HORISON FISHING |
2007/033487/23 |
AR Final deregistration |
Active |
Member |
0 |
|
ACTIVE BUSINESS INTERESTS: DEAN WARREN STACEY |
|
|
|
||
|
Company Name |
Registration No. |
Business Status |
Principal Status |
Principal Type |
Judgments |
|
MILPROPS 187 |
2000/004421/23 |
AR Final deregistration |
Active |
Director |
0 |
|
MILPROPS 187 |
2000/004421/23 |
AR Final deregistration |
Active |
Member |
0 |
|
WAVELENGTHS 1249 |
2002/049564/23 |
AR Final deregistration |
Active |
Member |
0 |
|
WAVELENGTHS 1249 |
2002/049564/23 |
AR Final deregistration |
Active |
Director |
0 |
|
TRANS OCEAN FISH TRADERS |
2004/048103/23 |
AR Final deregistration |
Active |
Director |
0 |
|
BRECO HOLDINGS |
1996/008679/07 |
In Business |
Active |
Director |
0 |
|
TRANS OCEAN FISH TRADERS |
2004/048103/23 |
AR Final deregistration |
Active |
Trust |
0 |
|
PREVIOUS BUSINESS INTERESTS: DEAN WARREN STACEY |
|||||
|
Company Name |
Registration No. |
Business Status |
Principal Status |
Principal Type |
Judgments |
|
PREMFRESH SEAFOODS |
2003/022688/07 |
In Business |
Resigned |
Director |
0 |
|
MILPROPS 187 |
2000/004421/23 |
AR Final deregistration |
Resigned |
Trust |
0 |
|
TRANS OCEAN FISH TRADERS |
2004/048103/23 |
AR Final deregistration |
Resigned |
Member |
0 |
|
ATLANTIS FOODSERVICE |
2005/021351/07 |
In Business |
Resigned |
Director |
0 |
|
THE SEAFOOD STORE |
2007/049014/23 |
AR Final deregistration |
Resigned |
Director |
0 |
|
S A SENSATIONAL SEAFOODS |
2006/177229/23 |
In Business |
Resigned |
Member |
0 |
|
RETSIA ONE INVESTMENTS |
1997/003147/23 |
Deregistration Final |
Resigned |
Member |
0 |
|
S A SENSATIONAL SEAFOODS |
2006/177229/23 |
In Business |
Resigned |
Director |
0 |
|
RETSIA ONE INVESTMENTS |
1997/003147/23 |
Deregistration Final |
Resigned |
Director |
0 |
|
THE SEAFOOD STORE |
2007/049014/23 |
AR Final deregistration |
Resigned |
Member |
0 |
|
ACTIVE BUSINESS INTERESTS: FERDINAND OOSTHUIZEN |
|
|
|
||
|
Company Name |
Registration No. |
Business Status |
Principal Status |
Principal Type |
Judgments |
|
BRECO HOLDINGS |
1996/008679/07 |
In Business |
Active |
Director |
0 |
PREVIOUS BUSINESS
INTERESTS: FERDINAND OOSTHUIZEN
|
Company Name |
Registration No. |
Business Status |
Principal Status |
Principal Type |
Judgments |
|
SA HUNT PUBLISHING |
2007/012812/07 |
In Business |
Resigned |
Director |
0 |
ACTIVE BUSINESS
INTERESTS: LUIS MIGUEL DE BRITO FIGUEIREDO
|
Company Name WEST COAST VAN REENEN INVESTMENTS |
Registration No. 2006/142479/23 |
Business Status In Business |
Principal Status Active |
Principal Type Representative Trustee |
Judgments 0 |
|
SUPAPACKERS HOLDINGS |
2010/009574/07 |
In Business |
Active |
Director |
0 |
|
SUPAPACKERS FISH PROCESSORS |
2002/054319/23 |
Conversion CO/CC or CC/CO |
Active |
Member |
0 |
|
ATLANTIS SEAFOOD PRODUCTS |
2010/018540/07 |
In Business |
Active |
Director |
0 |
|
ATLANTIS FOODSERVICE |
2005/021351/07 |
In Business |
Active |
Director |
0 |
|
WEST COAST VAN REENEN INVESTMENTS |
2006/142479/23 |
In Business |
Active |
Director |
0 |
|
ATLANTIS FOOD HOLDINGS |
2009/012426/07 |
In Business |
Active |
Director |
0 |
|
SILVER STREAMS SEAFOOD |
2005/120010/23 |
Conversion CO/CC or CC/CO |
Active |
Member |
0 |
|
ATLANTIS SEAFOOD PRODUCTS |
2005/120006/23 |
Conversion CO/CC or CC/CO |
Active |
Member |
0 |
|
BRECO HOLDINGS |
1996/008679/07 |
In Business |
Active |
Director |
0 |
|
ATLANTIS RETAIL SERVICES |
2010/024361/07 |
In Business |
Active |
Director |
0 |
|
ORSUM TRADING |
2009/017861/07 |
In Business |
Active |
Director |
0 |
|
SILVER STREAMS SEAFOOD |
2005/120010/23 |
Conversion CO/CC or CC/CO |
Active |
Director |
0 |
|
ATLANTIS SEAFOOD
DISTRIBUTORS |
2003/006029/07 |
In Business |
Active |
Director |
0 |
|
SUPAPACKERS FISH PROCESSORS |
2002/054319/23 |
Conversion CO/CC or CC/CO |
Active |
Director |
0 |
|
ATLANTIS WHOLESALERS |
2010/021773/07 |
In Business |
Active |
Director |
0 |
|
ATLANTIS SEAFOOD PRODUCTS |
2005/120006/23 |
Conversion CO/CC or CC/CO |
Active |
Director |
0 |
Management
No principals found for this principal type
Officer
|
Full Name |
ID No. |
ID No. |
Status DOA |
DOA |
Active Interests |
Previous Interests |
Judgments |
Judgments |
|
KILPIN SECRETARIAL SERVICES |
|
Secretary (Companies & CCs) |
Resigned |
11/09/1995 |
0 |
0 |
0 |
0 |
|
NEIL PASCALL |
7301055051085 |
Officer |
Resigned |
21/07/1998 |
11 |
8 |
0 |
0 |
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 |
|
|
ABB114578 |
BRECO (Pty) Ltd |
1232006610 |
Nedbank (South Africa) |
BUSINESS SOUTH |
198765 |
Verified by Bank Code |
|
OPERATIONAL ACTIVITIES
|
Operational Activities Status |
The following information
was provided |
|
|
Industry |
Wholesale |
|
|
Major Industry SIC Code |
46301 - Wholesale of fishery
products |
|
|
NACE Code |
52,1 - Warehousing and
storage |
|
MAJOR
OPERATION
|
Major Business Activities |
The subject is involved in the wholesale and
distribution of frozen fish and seafood. The subject also offers cold storage
services. |
|
|
Foreign Trade Activities |
International |
|
|
Agencies Held |
Subject holds no agencies. |
|
|
Franchises Held |
The subject holds no
franchises. |
|
|
Major Suppliers |
• VIKING FISHING • IRVIN &
JOHNSON • SEA HARVEST • TUNACOR |
|
|
Major Customers |
• Wholesale Industry • Retail Industry |
|
|
Major Brands |
• SEA HARVEST • BRECO • IRVIN &
JOHNSON |
|
|
Major Contracts |
Subject does not operate on
a contract basis. |
|
IMPORT ACTIVITI ES
Subject imports.
|
Imports From |
To the value of |
|
• Canada • India • United States •
New Zealand |
|
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 |
|
MONTAGUE GARDENS |
• Office • Warehouse |
|
|
|
N/A |
|
DURBAN |
Office |
|
|
|
N/A |
EMPLOYEES
|
Permanent Employees |
75 |
|
|
Salaried Employees |
75 |
|
COMPANY
FLEET
|
Total Vehicles |
18 |
||
|
The fleet is made up of: |
|||
|
Cars / SUV's |
7 |
Owned |
|
|
Light Delivery Vehicles |
1 |
Owned |
|
|
Trucks |
4 |
Owned |
|
|
FORKLIFTS |
6 |
Owned |
|
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 |
The Subject has no bonds. |
|
FINANCIAL FIGURES
FINANCIAL FIGURES
|
Financial Year |
2016 |
|
|
Currency |
ZAR |
|
|
Actual numbers, 000' or mio |
Actual Numbers |
|
|
INCOME STATEMENT |
|
|
|
Turnover/Revenue |
750,000,000 |
|
BALANCE SHEET
FINANCIAL RATIOS
GENERAL COMMENTS
General Comments Full financial information was 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 |
||
|
TR18031946 |
19/03/2018 |
Neutral |
30 Days
(30 Days) |
Confidential
(Confidential) |
2014 |
50% |
50% |
75% |
Unknown |
This is a good account. |
|
TR18031942 |
19/03/2018 |
Neutral |
30 Days
(30 Days) |
150,000 (50,000)
(ZAR) |
2008 |
50% |
|
|
Unknown |
This is a good account. |
|
TR18031941 |
19/03/2018 |
Positive |
30 Days
(30 Days) |
150,000 (130,000)
(ZAR) |
2008 |
83% |
|
|
Yes |
This is an excellent account. |
|
TR180118219 |
18/01/2018 |
N/A |
|
|
|
50% |
|
75% |
|
Awaiting response |
|
TR17072015 |
20/07/2017 |
N/A |
|
|
|
50% |
|
|
|
Relevant person unavailable |
|
LTR16070199 |
01/07/2016 |
Neutral |
30 days (30 Days) |
Open
Account (12,000) (ZAR) |
10 years |
|
50% |
75% |
Unknown |
Good account. |
|
LTR16070174 |
01/07/2016 |
N/A |
|
|
|
|
|
|
|
Company
policy not to provide trade references. Company policy not to provide trade
references |
TRADE REFERENCES ANALYTICS
|
Number of valid Trade References |
22 |
|
|
Overall Trade Score |
61% |
|
|
Average Usage of Terms |
100% |
|
|
Average Monthly Purchase |
1,125,412 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 65.91 |
|
|
1 |
INR 91.87 |
|
Euro |
1 |
INR 80.26 |
|
ZAR |
1 |
INR 5.56 |
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.