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|
MIRA INFORM REPORT
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Report No. : |
506285 |
|
Report Date : |
04.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
UBERTEX
CC |
|
|
|
|
Registered Office : |
First
Floor, Kenilworth Park, 202 Brickfield Road, Overport 4001 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
26.08.2008 |
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|
|
|
Com. Reg. No.: |
2008/183167/23 |
|
|
|
|
Legal Form : |
Close
Corporation |
|
|
|
|
Line of Business : |
· Wholesale of Textile Fibres. · Other business support service activities n.e.c |
|
|
|
|
No. of Employees : |
21 |
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 |
Executive
Summary
|
Executive
Summary |
The subject is well established. No
judgments recorded against the subject. A comprehensive trade survey could
not be obtained. The subject has an excellent reputation. The subject is
considered equal to its normal business engagements. The lack of financial
information should be borne in mind. |
COMPANY
INFORMATION
OVERVIEW
|
History |
UBERTEX
CC was registered and commenced operations in August 2008. |
STATUTORY
INFORMATION
|
Registered
Name |
UBERTEX |
|
Registration
Number |
2008/183167/23 |
|
Type
Of Company |
Close
Corporation |
|
Registered
Date |
26/08/2008 |
|
Date
Commenced Trading |
26/08/2008 |
|
Commercial
Status |
In
Business |
|
Financial
Year End |
February |
CONTACT
DETAILS
|
Contact
Number |
+27
31 208 6099 |
|
Email
Address |
Daniella@ubtex.co.za |
|
Fax
Number |
+27
31 208 5899 |
|
Website |
|
|
Social
Media Presence |
The
subject does not have a social media presence. |
|
Registered
Physical Address |
First
Floor Kenilworth
Park 202
Brickfield Road Overport
South
Africa 4001 |
|
Trading
Physical Address |
15
Saxon Avenue Mayville Durban
Kwa-Zulu
Natal South
Africa 4001 |
|
Postal
Address |
P
O Box 30992 Mayville Durban Postal
Address Kwa-Zulu
Natal South
Africa 4058 |
TAX
INFORMATION
TAX INFORMATION
|
Income Tax Number |
9271190184 |
VAT INFORMATION
|
VAT
Status |
The
subject is registered for VAT (VAT number/s made available) |
|
VAT
Number |
4340251018 |
|
Status |
Active |
|
Registered
Name |
UBERTEX
CC |
OFFICERS
AND PROFESSIONAL SERVICES
LIST OF OFFICERS AND
PROFESSIONAL SERVICES
|
Type |
Name |
Contact Name |
Contact Number |
|
Insurance |
Marsh
Insurance Brokers |
- |
+27110607100 |
|
Auditor |
Desai
Jadwat Incorporated |
- |
- |
OWNERSHIP
STRUCTURE
SHAREHOLDING INFORMATION
|
CURRENT |
|
|
|
|
Shareholder/Member
Name |
Share/ Interest |
Type |
Comment |
|
Mahmood
Moosa Paruk |
50% |
Member |
|
|
Jorg
Gerhard Kramer |
50% |
Member |
|
PRINCIPAL
INFORMATION
DIRECTOR / MEMBER
|
Full Name |
ID No. |
Type |
Status |
DOA |
Active Interests |
Previous Interests |
Judgments |
Fraud Listing |
|
Jorg
Gerhard Kramer |
6701035201083 |
Member |
Active |
26/08/2008 |
3 |
0 |
0 |
0 |
|
Mahmood
Moosa
Paruk |
6501275206085 |
Member |
Active |
26/08/2008 |
14 |
9 |
0 |
0 |
|
Mohammed
Salim Dada |
7312165135080 |
Member |
Resigned |
26/08/2008 |
10 |
2 |
0 |
0 |
ACTIVE BUSINESS INTERESTS: Jorg Gerhard
Kramer
|
Company Name |
Registration No. |
Business Status |
Principal Status |
Principal Type |
Judgments |
|
Sugar
Mountain Investments |
2013/089641/07 |
In
Business |
Active |
Director |
0 |
|
Fabric
Testing Solutions |
2010/105011/23 |
In
Business |
Active |
Trust |
0 |
|
Southern
Lights Trading And Investments |
2015/389722/07 |
In
Business |
Active |
Director |
0 |
ACTIVE BUSINESS INTERESTS: Mahmood Moosa
Paruk
|
Company Name |
Registration No. |
Business Status |
Principal Status |
Principal Type |
Judgments |
|
Mayflower
Trading |
2002/006465/07 |
In
Business |
Active |
Director |
0 |
|
Mega
Scholastics |
2009/014430/07 |
AR
Final deregistration |
Active |
Director |
0 |
|
Elite
Moda Manufacturers |
2008/015286/07 |
In
Business |
Active |
Director |
0 |
|
Value
Scholastics |
2002/026383/07 |
In
Business |
Active |
Director |
0 |
|
Highdale
Trading |
2003/008834/07 |
AR
Final deregistration |
Active |
Director |
0 |
|
Sugar
Mountain Investments |
2013/089641/07 |
In
Business |
Active |
Director |
0 |
|
Escotgold
Trading |
2005/042836/07 |
In
Business |
Active |
Director |
0 |
|
Ragsta
Trading |
2010/001477/07 |
In
Business |
Active |
Director |
0 |
|
Ferncrest
Trading |
2004/028159/07 |
In
Business |
Active |
Director |
0 |
|
Stiebel
Properties |
2018/068687/07 |
In
Business |
Active |
Director |
0 |
|
Mission
Side Trading |
2013/236898/07 |
In
Business |
Active |
Director |
0 |
|
Colindale
Trading |
1999/012018/07 |
In
Business |
Active |
Director |
0 |
|
Basics
and Beyond |
2008/018148/07 |
Conversion
CO/CC or CC/CO |
Active |
Director |
0 |
|
Cartoon
Clothing Manufacturers |
1993/000777/07 |
In
Business |
Active |
Director |
0 |
PREVIOUS BUSINESS INTERESTS: Mahmood Moosa
Paruk
|
Company Name |
Registration No. |
Business Status |
Principal Status |
Principal Type |
Judgments |
|
Sd
Textiles |
2002/100804/23 |
Voluntary
Liquidation |
Resigned |
Member |
0 |
|
Absolute
Fabrics |
2012/060052/07 |
In
Business |
Resigned |
Director |
0 |
|
Point
Zero Creations |
2006/029555/07 |
In
Business |
Resigned |
Director |
0 |
|
Fabric
Testing Solutions |
2010/105011/23 |
In
Business |
Resigned |
Member |
0 |
|
Swallowhaven
Trading |
2005/001315/07 |
In
Business |
Resigned |
Director |
0 |
|
Basics
And Beyond |
2008/199624/23 |
In
Business |
Resigned |
Member |
0 |
|
Mega
Scholastics |
2009/014430/07 |
AR
Final deregistration |
Resigned |
Officer |
0 |
|
Elite
Moda |
1998/024637/07 |
In
Business |
Resigned |
Director |
0 |
|
African
Paper Products |
2003/005955/07 |
In
Business |
Resigned |
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 ACCOUNT CLIENT
REQUESTED DETAILS
|
Account Reference
Number |
Account Holder |
Account Number |
Bank Name |
Branch Name |
Branch Code |
Verification Status |
|
ABB146138 |
UBERTEX
C C |
62367182674 |
First
National Bank (South Africa) |
250655 |
250655 |
Verified
by Bank
Code |
BANK
ACCOUNTS
|
Account Reference Number |
Account Holder |
Account Number |
Bank Name |
Branch Name |
Branch Code |
Verification Status |
|
ABB165839 |
UBERTEX
C
C |
62367182674 |
First
National Bank (South
Africa) |
Global
transactions |
250655 |
Unverified |
OPERATIONAL
ACTIVITIES
|
Operational
Activities Status |
The
following information was provided |
|
Industry |
Wholesale
& Importing |
|
Major
Industry SIC Code |
46699
- Wholesale of textile fibres etc. |
|
Secondary
Industry SIC Code(s) |
Other
business support service activities n.e.c. |
|
NACE
Code |
46,41
- Wholesale of textiles |
MAJOR
OPERATION
|
Major
Business Activities |
The subject is involved in the wholesale, importing
and distribution of general textiles and fabrics, such as: cotton, polyester,
nylon mesh and nylon lycra. |
|
Foreign
Trade Activities |
International |
|
Agencies
Held |
Subject
holds no agencies. |
|
Franchises
Held |
The
subject holds no franchises. |
|
Major
Suppliers |
S
D Textiles First
Choice Fabrics Linen
Tech |
|
Major
Customers |
Fabric
Retailers Clothing
Manufacturers |
|
Major
Brands |
Subject
does not have any brands. |
|
Major
Contracts |
Subject
does not operate on a contract basis. |
IMPORT
ACTIVITIES
Subject Imports
|
Imports From |
To the value of |
|
Pakistan
China
India
|
|
EXPORT
ACTIVITIES
Subject Exports
|
Exports To |
To the value of |
|
Namibia
Botswana |
|
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 |
|
Mayville |
Warehouse Office |
|
21 |
Leased |
N/A |
EMPLOYEES
|
Permanent
Employees |
21 |
|
Salaried
Employees |
21 |
COMPANY
FLEET
|
Total
Vehicles |
1 |
The
fleet is made up of:
|
Light
Delivery Vehicles |
1 |
Owned |
FINANCING
TERMS
FINANCING TERMS
|
Sales
Terms |
COD Cash 30
Days |
|
Overdraft
Facility |
The
Subject has an overdraft facility. |
|
Overdraft
Usage |
Regularly |
|
Sureties |
The
Principals have signed sureties |
|
Debtors
Ceded |
Debtors
have been ceded. |
|
Debtors
Factored |
Debtors
have not been factored. |
|
Bonds |
The
Subject has no bonds. |
FINANCIAL
FIGURES
GENERAL COMMENTS
|
General
Comments |
Financial
figures 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 |
|
TR180502117 |
02/05/2018 |
N/A |
- |
- |
- |
- |
- |
Dormant
account |
|
TR180502113 |
02/05/2018 |
N/A |
- |
- |
- |
100% |
- |
Number
rings unanswered |
|
TR180502111 |
02/05/2018 |
Neutral |
60
Days (60 Days) |
200,000 (30,000)
(ZAR) |
2008 |
50% |
No |
This
is a good account. |
|
TR180502110 |
02/05/2018 |
Positive |
30
Days (30 Days) |
350,000
(300,000) (ZAR) |
2013 |
100% |
No |
This
is an excellent account. |
|
TR17073179 |
31/07/2017 |
N/A |
- |
- |
- |
100% |
- |
Awaiting
response |
TRADE
REFERENCE ANALYTICS
|
Number
of valid Trade References |
5 |
|
Overall
Trade Score |
80% |
|
Average
Usage of Terms |
100% |
|
Average
Monthly Purchase |
121,000
ZAR |
|
Average
Usage of Credit Limit |
46% |
GENERAL COMMENTS
|
General
Comments |
Further
creditor details were not 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 66.62 |
|
|
1 |
INR 90.60 |
|
Euro |
1 |
INR 79.86 |
|
ZAR |
1 |
INR 5.27 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.