MIRA INFORM REPORT

Report No. :	505308
Report Date :	04.05.2018

IDENTIFICATION DETAILS

Name :	WASAA GASSES (PTY) LTD
Formerly Known As :	FINISHING TOUCH TRADING 417 (04/04/2011)
Registered Office :	418 Hilston Road Kya Sand, Kya Sand Gauteng South Africa 2169
Country :	South Africa
Date of Incorporation :	10.09.2007
Com. Reg. No.:	2007/025851/07
Legal Form :	Private Company
Line of Business :	The subject is involved in the marketing and wholesale of crude oil, petroleum products, gasses and chemicals.
No. of Employees :	30

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate
Payment Behaviour :	Unknown
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

WASAA GASSES (PTY) LTD trading as WASAA TRADING was registered in September 2007 utilising the details of a shelf entity styled FINISHING TOUCH TRADING 417 (PTY) LTD for registration purposes. The name was changed in April 2011 to the current name.

STATUTORY INFORMATION

Registered Name	WASAA GASSES
Trading As	WASAA TRADING
Previous Names	FINISHING TOUCH TRADING 417 (04/04/2011)
Registration Number	2007/025851/07
Type Of Company	Private Company
Registered Date	10/09/2007
Date Commenced Trading	30/04/2008
Commercial Status	In Business
Financial Year End	February

CONTACT DETAILS

Contact Number	+27 11 708 0538
Email Address	Paveshni@wasaa.co.za
Fax Number	+27 11 708 0676
Website	www.wasaa.co.za
Social Media Presence	The subject does not have a social media presence
Registered Physical Address	418 Hilston Road Kya Sand Kya Sand Gauteng South Africa 2169
Trading Physical Address	417-418 Hilston Street Kya Sands Johannesburg Gauteng South Africa 2169
Postal Address	P O Box 382 Ruimsig Roodepoort Gauteng South Africa 1732

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. Please see historical information dated 3rd April, 2018.

TAX INFORMATION

Income Tax Number

9112713160

VAT INFORMATION

VAT Status

The subject is registered for VAT (VAT number/s made available)

VAT Number	4370243695
Status	Active

OFFICERS AND PROFESSIONAL SERVICES

LIST OF OFFICERS AND PROFESSIONAL SERVICES

Type	Name	Contact Name	Contact Number
Auditor	Accuity Chartered Accountants

OWNERSHIP STRUCTURE

GENERAL COMMENTS

General Comments Ownership structure not made available.

PRINCIPAL INFORMATION

Director / Member

Full Name	ID No.	Type	Status	DOA	Active Interests	Previous Interests	Judgments	Fraud Listing
Nokwanele Qonde	7104070628089	Director	Active	30/04/2008	14	2	0	0
Lenono Lancelot Manala	7001065642085	Director	Resigned	09/05/2008	0	0	0	0
Monica Ripepi	4408050075085	Director	Resigned	10/09/2007	0	0	0	0
Mpumelelo Joseph Tshume	5211185299086	Director	Resigned	05/02/2013	28	10	0	0
Sarvasan Reddy	7110055131080	Director	Resigned	14/10/2010	1	0	0	0
Thandekile Nozipho Sibisi	7511260490080	Director	Resigned	10/09/2007	5	4	0	0

ACTIVE BUSINESS INTERESTS: Nokwanele Qonde

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
Masiqhame Trading 267	2005/008686/23	AR Final deregistration	Active	Member	0
Wasaa Trading North West	2011/009760/07	AR Final deregistration	Active	Director	0
Etact	2013/123910/07	Deregistration Final	Active	Director	0
Zemka Rural Development Educational Fund	2009/004052/08	In Business	Active	Director	0
Md Wasaa Jv	2015/094711/07	In Business	Active	Director	0
Amistad Consulting	2001/018984/07	AR Deregistration Process	Active	Director	0
Seena Marena Financial Services	2002/006355/07	In Business	Active	Director	0
Wasaa Logistics	2008/013667/07	In Business	Active	Director	0
National Pride Trading 189	2005/000182/07	AR Final deregistration	Active	Director	0
Wasaa Chemicals	2010/014750/07	In Business	Active	Director	0
Pdev Enterprise Solutions	2006/029837/07	AR Final deregistration	Active	Director	0
Imperony Investments 1	2006/039200/07	In Business	Active	Director	0
Wasaa Commodities	2010/016390/07	In Business	Active	Director	0
Wasaa Investments	2006/013897/07	In Business	Active	Director	0

PREVIOUS BUSINESS INTERESTS: Nokwanele Qonde

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
Balondolozi Investment Services	2010/007109/07	In Business	Resigned	Director	0
Taxi 20W40	2014/214005/07	In Business	Resigned	Director	0

Management

No principals found for this principal type.

Officer

Full Name	ID No.	Type	Status	DOA	Active Interests	Previous Interests	Judgments	Fraud Listing
Lucro Auditing		Secretary (Companies & CCs)	Resigned	10/04/2008	0	0	0	0

Other

No principals found for this principal type.

GENERAL COMMENTS

General Comments

High DSI Score

BANK ACCOUNT INFORMATION

GENERAL COMMENTS

General Comments Banking details were declined.

OPERATIONAL ACTIVITIES

Operational Activities Status	The following information was provided
Industry	Wholesale
Major Industry SIC Code	46610 - Wholesale of gasoline
NACE Code	46,71 - Wholesale of solid, liquid and gaseous fuels and related products

MAJOR OPERATION

Major Business Activities	The subject is involved in the marketing and wholesale of crude oil, petroleum products, gasses and chemicals.
Foreign Trade Activities	International
Agencies Held	Subject holds no agencies.
Franchises Held	The subject holds no franchises.
Major Suppliers	Subject declined to provide information.
Major Customers	· Schoeman Boerdery · Food Copr (Nola) · Supreme Poultry · Saa Air Chef · Dhl International
Major Brands	Wasaa
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
Johannesburg	· Warehouse · Yard · Office				N/A

EMPLOYEES

Permanent Employees 30

GENERAL COMMENTS

General Comments Company fleet information was not made available.

FINANCING TERMS

GENERAL COMMENTS

General Comments Financing terms were declined.

FINANCIAL FIGURES

GENERAL COMMENTS

General Comments Financial figures were declined.

TRADE REFERENCES

GENERAL COMMENTS

General Comments Creditor details were declined 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 66.61
UK Pound	1	INR 90.60
Euro	1	INR 79.85
ZAR	1	INR 5.30

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	NIY
Report Prepared by :	TPT

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)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.