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MIRA INFORM REPORT
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Report No. : |
503983 |
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Report Date : |
03.05.2018 |
IDENTIFICATION DETAILS
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Name : |
CROWN RESOURCES (PTY) LTD |
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Formerly Known As : |
INTUTHUKO MINING (PTY) LTD |
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Registered Office : |
Block 3,
Silver Point Office Park, Bryanston, 2052, South Africa, 2835 |
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Country : |
South Africa |
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Date of Incorporation : |
15.01.1998 |
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Com. Reg. No.: |
1998/000507/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Not Available [We tried to confirm / obtain the detailed activity but the same is
not available from any sources] |
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No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
|
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 : |
No Complaints |
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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 |
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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 |
|
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 was uncooperative, therefore we are unable to comment on your enquiry
COMPANY
INFORMATION
OVERVIEW
|
History |
CROWN
RESOURCES PTY) LTD trading as KIMBERLEY UNDERGROUND MINE JV was established
in January 1998 as INTUTHUKO MINING (PTY) LTD, and commenced trading
immediately. The name was changed to the current name in October 2004. There
have been no major changes since the inception of the company. |
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STATUTORY INFORMATION |
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Registered
Name |
CROWN
RESOURCES PTY) LTD |
|
|
Trading
As |
KIMBERLEY
UNDERGROUND MINE JV |
|
|
Previous
Names |
INTUTHUKO
MINING (PTY) LTD (26/10/2004) |
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|
Registration
Number |
1998/000507/07 |
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Type Of
Company |
Private
Company |
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|
Registered
Date |
15/01/1998 |
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|
Date
Commenced Trading |
15/01/1998 |
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|
Commercial
Status |
In
Business |
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Financial
Year End |
June |
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CONTACT DETAILS |
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Contact
Number |
+27 53
802 0700 |
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Email
Address |
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Fax
Number |
+27 53
802 8714 |
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Website |
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Social
Media Presence |
LinkedIn;
Twitter; Facebook; Instagram |
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Registered
Physical Address |
Block 3 Silver
Point Office Park Bryanston 2052 South
Africa 2835 |
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|
Trading
Physical Address |
Cnr
Central & Molyneaux Road Beaconsfield Kimberley South
Africa 8301 |
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Postal
Address |
P O Box
71007 Bryanston
South Africa 2021 |
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GENERAL COMMENTS |
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|
Comments |
The
subject declined to provide any information or to update existing information
as this information is deemed to be confidential. 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 9537005218
VAT
INFORMATION
|
VAT
Status |
The subject
is registered for VAT (VAT number/s made available) |
|
VAT
Number |
4230250658 |
|
Status |
Active |
|
Registered
Name |
CROWN
RESOURCES (PTY) LTD |
|
VAT
Number |
4060176130 |
|
Status |
Active |
|
Registered
Name |
CROWN
RESOURCES (PTY) LTD |
OFFICERS
AND PROFESSIONAL SERVICES
LIST OF OFFICERS AND PROFESSIONAL SERVICES
|
Type |
Name |
Contact
Name |
Contact
Number |
|
Insurance |
Price
Forbes |
Warre
Bottler |
+27100037353 |
|
Auditor |
Bdo
South Africa Inc |
|
|
OWNERSHIP STRUCTURE
GENERAL COMMENTS
General Comments Ownership structure was declined
PRINCIPAL
INFORMATION
Director / Member
|
Full
Name |
ID No. |
Type |
Status |
DOA |
Active
Interests |
Previous
Interests |
Judgments |
Fraud
Listing |
|
Vusimuzi Moses Nkosi |
7003215327088 |
Director |
Active |
31/12/2014 |
0 |
0 |
0 |
0 |
|
Charles Philip Mostert |
5604240000000 |
Director |
Resigned |
12/07/2001 |
0 |
0 |
0 |
0 |
|
Christoffel
Johannes Dippenaar |
5706165037083 |
Director |
Resigned |
20/08/2004 |
25 |
13 |
0 |
0 |
|
David
Gary Abery |
621024 |
Director |
Resigned |
27/03/2008 |
1 |
1 |
0 |
0 |
|
Denis Worrall |
3505290000000 |
Director |
Resigned |
29/11/2001 |
0 |
0 |
0 |
0 |
|
Edward
Paul Smith |
4011105021003 |
Director |
Resigned |
15/01/1998 |
5 |
0 |
0 |
0 |
|
Grant Button |
6203280000000 |
Director |
Resigned |
21/08/1999 |
0 |
5 |
0 |
0 |
|
Gregory Hancock |
5101070000000 |
Director |
Resigned |
29/11/2001 |
0 |
0 |
0 |
0 |
|
James Murray Davidson |
4510065030086 |
Director |
Resigned |
20/08/2004 |
5 |
5 |
0 |
0 |
|
James Paul
Carr |
4302085032007 |
Director |
Resigned |
15/01/1998 |
9 |
1 |
0 |
0 |
|
John
Allen Baillie |
4907150000000 |
Director |
Resigned |
15/02/2001 |
0 |
0 |
0 |
0 |
|
Manfred
Richard Marx |
4307230000000 |
Director |
Resigned |
08/11/2000 |
1 |
0 |
0 |
0 |
|
Paul
Mazak |
5807060000000 |
Director |
Resigned |
15/08/2001 |
0 |
0 |
0 |
0 |
|
Richard
John Latilla |
4604285111006 |
Director |
Resigned |
01/07/2002 |
3 |
0 |
0 |
0 |
|
Robert
Wilde |
4811250000000 |
Director |
Resigned |
21/08/1999 |
1 |
0 |
0 |
0 |
|
Robert Wiltshire Bell |
460930 |
Director |
Resigned |
03/10/2000 |
0 |
0 |
0 |
0 |
Management
No principals found for this principal type.
Officer
|
Full
Name |
ID No. |
Type |
Status |
DOA |
Active
Interests |
Previous
Interests |
Judgments |
Fraud
Listing |
|
Jean Margaret Caddy |
4807090052089 |
Company
Secretary |
Active |
27/03/2008 |
0 |
0 |
0 |
0 |
|
Berend
Van De Venter |
7311215017082 |
Company
Secretary |
Resigned |
14/08/2001 |
12 |
16 |
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 |
|
ABB115546 |
KIMBERLEY UNDERGROUND MINE JV (PTY) LTD |
62191447476 |
First
National Bank (South Africa) |
Corporate |
250655 |
Unverified |
OPERATIONAL
ACTIVITIES
Operational
Activities Status
The
subject declined to provide the information
GENERAL COMMENTS
General Comments
The subject declined to provide the information
OPERATIONAL FOOTPRINT
Operational
Footprint Status
The
subject declined to provide the information
GENERAL COMMENTS
General
Comments
The subject declined to provide the information
FINANCING TERMS
GENERAL COMMENTS
General
Comments
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 |
||
|
TR180419223 |
19/04/2018 |
Positive |
30
Days (30 Days) |
2,000,000 (700,000)
(ZAR) |
2010 |
100% |
|
|
Yes |
This
is an excellent account. |
|
TR180419233 |
19/04/2018 |
Neutral |
30
Days (30 Days) |
Open Account (Confidential) |
2016 |
50% |
|
50% |
No |
This
is a good account. |
|
TR180419227 |
19/04/2018 |
Neutral |
30 Days (30 Days) |
1,500,000 (300,000) (ZAR) |
2016 |
50% |
|
|
No |
This
is very good account. |
|
TR180419220 |
19/04/2018 |
Neutral |
30 Days (30 Days) |
2,500,000 (1,000,000) (ZAR) |
2016 |
50% |
|
|
Yes |
This
is a good account. |
|
LTR151006112 |
06/10/2015 |
Positive |
30
Days (30 Days) |
Confidential (1,000,000) (ZAR) |
|
|
|
100% |
|
This
is an excellent account. |
|
LTR151006110 |
06/10/2015 |
Positive |
30
Days (30 Days) |
Confidential
(Confidential) |
2009 |
|
|
100% |
|
This
is an excellent account. |
TRADE REFERENCE
ANALYTICS
|
Number
of valid Trade References |
7 |
|
|
Overall
Trade Score |
71% |
|
|
Average
Usage of Terms |
100% |
|
|
Average
Monthly Purchase |
750,000
ZAR |
|
|
Average
Usage of Credit Limit |
32% |
|
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 66.66 |
|
|
1 |
INR 90.66 |
|
Euro |
1 |
INR 80.01 |
|
ZAR |
1 |
INR 5.26 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
SYL |
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.