MIRA INFORM REPORT

Report No. :	504551
Report Date :	07.05.2018

IDENTIFICATION DETAILS

Name :	EASIGAS (PTY) LTD

Registered Office :	Gate 5, Hibiscus Road, Alrode, Gauteng, South Africa 1451

Country :	South Africa

Date of Incorporation :	09.04.1981

Com. Reg. No.:	1981/003430/07

Legal Form :	Private Company

Line of Business :	The subject operates as a supplier and wholesaler of liquefied petroleum gas to the Southern African market.

No. of Employees :	250

RATING & COMMENTS

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

MIRA’s Rating :

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

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

The subject is very well established. No judgments recorded against the subject. Accounts are paid on due date. The subject is considered equal to its normal business engagements. The subject is part of a well financed group. The subject has an excellent reputation

TAX INFORMATION

TAX INFORMATION

Income Tax Number 9179143848

VAT INFORMATION

VAT Status	The subject is registered for VAT (VAT number/s made available)
VAT Number	4170102059
Status	Active
Registered Name	EASIGAS (PTY) LTD
Trading Name	EASIGAS (PTY) LTD

OFFICERS AND PROFESSIONAL SERVICES

LIST OF OFFICERS AND PROFESSIONAL SERVICES

Type	Name	Contact Name	Contact Number
Auditor	Bdo South Africa Incorporated

OWNERSHIP STRUCTURE

SHAREHOLDING INFORMATION

CURRENT

Holding Company	Share	Type	Comment
Rubis Energie	60%	Holding Company
Shareholder/Member Name	Share/Interest	Type	Comment
Reatile Gaz (Pty) Ltd	40%	Shareholder

PRINCIPAL INFORMATION

Director / Member

Full Name	ID No.	Type	Status	DOA	Active Interests	Previous Interests	Judgments	Fraud Listing
Frederic Emile Royer	15AD03369	Director	Active	04/01/2016	0	0	0	0

Lulama Simphiwe 7007025368083 Mehlomakulu		Non-Executive Director	Active	04/01/2016	29	4	0	0
Mbulelo Kroqwana	7404065539089	Non-Executive Director	Active	01/03/2017	2	0	0	0
Nomkhosi Makhathini	7909130398089	Director	Active	23/04/2014	6	0	0	0
Olivier Maurice Jean Baptiste Nechad	15FV10153	Non-Executive Director	Active	31/12/2010	0	0	0	0
Sedick Samodien	5712155171080	Director	Deceased	05/08/2002	4	2	0	0
Alexander Maljers	690728	Director	Resigned	05/08/2002	0	0	0	0
Balazs Fur	711204	Director	Resigned	18/08/2006	0	0	0	0
Bernard Bornstein	5809265034008	Director	Resigned	28/01/1991	0	0	0	0
Charles William Anthony Parsons	6808270000000	Director	Resigned	16/07/2009	1	0	0	0
Christian Henri Leon Cochet	09PV36834	Director	Resigned	31/12/2010	0	0	0	0
Earl Michael Sampson	6611015049016	Director	Resigned	09/07/2004	0	0	0	0
Eric Nienaber	6102135090080	Director	Resigned	05/08/2002	3	2	0	0
Errol Marshall	4610015141007	Director	Resigned	02/05/1997	4	4	0	0
Frederic Andre Crosnier	07AR70478	Director	Resigned	06/06/2012	0	0	0	0
Gavin Phillip Guy Beretta	6208095001007	Director	Resigned	05/08/2002	1	3	0	0
Graham Corbin	540813	Director	Resigned	01/06/1998	0	0	0	0
Harry Allistair Orchison	450401	Director	Resigned	28/01/1991	0	0	0	0
Israel Motsamai Karedi	6606025520089	Director	Resigned	09/07/2004	5	0	0	0
John Barnard Drake	4310065105004 Director	Resigned	18/07/1994	0	0	0	0
Jonathan Gary Woodward	5606140000000	Director	Resigned	09/07/2004	2	1	0	0
Lesetja Andries Mankuru	6706175371083	Director	Resigned	31/12/2010	1	0	0	0
Linda Kumbemba	7008251201188	Director	Resigned	01/10/2008	1	0	0	0
Lucy Slinger	094492656	Director	Resigned	02/01/2008	0	0	0	0
Michael Adriaan Maria Boersma	470426	Director	Resigned	01/02/2000	0	0	0	0
Morvin, Sivagragasan Subban	5808165020083	Director	Resigned	16/07/2009	4	1	0	0
Patrick Gray Milner	5305085072088	Director	Resigned	02/05/1998	5	3	0	0
Paul John Snaith	571105	Director	Resigned	01/05/2000	0	0	0	0
Peter Alwyn Lawson	450401	Director	Resigned	18/11/1999	0	0	0	0
Peter Herman Francesco Erich	570508	Director	Resigned	01/05/2000	0	0	0	0
Peter Hugh Veniero Kidd	540709	Director	Resigned	19/11/1998	0	0	0	0
Phillipe David De Renzy- Martin	570508	Director	Resigned	01/02/2000	0	0	0	0
Rahul Malhotra		Director	Resigned	08/12/2009	0	0	0	0
Roy Alexander Wyllie	570404	Director	Resigned	18/08/2006	0	0	0	0
Shepherd Oga Shonhiwa	5309125183186	Director	Resigned	01/07/2003	3	3	0	0
Vukile Vezithemba Zondani	6202195500083	Non-Executive Director	Resigned	04/01/2016	5	8	0	0
Vukile Vezithemba Zondani	6202195500083	Director	Resigned		5	8	0	0
William Roger Solliez	6602040000000 Director	Resigned	16/07/2009	0	1	0	0
Zacharia Sphiwe Hlatshwayo	7302125526080 Director 1	Resigned	01/07/2011	5	1	0	0

ACTIVE BUSINESS INTERESTS: Lulama Simphiwe Mehlomakulu

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
Reatile Group	2003/027219/07	In Business	Active	Director	0
Reatile Gaz	2006/003680/07	In Business	Active	Director	0
Gradidge-Mahura Investments	2008/015332/07	In Business	Active	Non-Executive Director	0
Reatile Chemicals (Rf)	2004/030630/07	In Business	Active	Director	0
Gemini Moon Trading 108	2007/212536/23	AR Final deregistration	Active	Member	0
Agemo	2000/000938/07	Deregistration Final	Active	Director	0
Gemini Moon Trading 108	2004/034347/07	Conversion CO/CC or CC/CO	Active	Director	0
Reatile Solar Power	2017/446265/07	In Business	Active	Director	0
Clotan Holdings	1995/003840/07	In Business	Active	Director	0
Cng Holdings	2009/010654/07	In Business	Active	Non-Executive Director	0
Em-Three Investment Holdings	2002/032168/07	In Business	Active	Director	0
Egoli Gas	2006/009700/07	In Business	Active	Director	0
Reatile Technologies	2006/000856/07	In Business	Active	Director	0
Vopak South Africa Developments (Rf)	2008/019455/07	In Business	Active	Director	0
Reatile-Redigas	2000/009367/07	In Business	Active	Director	0
Vopak Terminal Durban	1996/011237/07	In Business	Active	Director	0
Clotan Steel	2013/208068/07	In Business	Active	Director	0
Vesquin Trading	2011/011181/07	In Business	Active	Director	0
Reatile Gastrade	2013/109028/07	In Business	Active	Director	0
Elderberry Investments 139	2011/008567/07	In Business	Active	Director	0
M O T Chemical Products	1997/000705/07	AR Final deregistration	Active	Director	0
Reatile Energy Solutions	2016/424272/07	In Business	Active	Director	0
Liquid Mist Trade And Invest 116	2010/001537/07	In Business	Active	Director	0
Reatile Renewables	2016/246907/07	In Business	Active	Director	0
Vopak Reatile Terminal Richards Bay	2014/085310/07	In Business	Active	Director	0
Reatile Mining Solutions	2004/030801/07	In Business	Active	Director	0
Reatile Energy	2004/030990/07	In Business	Active	Director	0
Vopak Investment South Africa (Rf)	1996/011236/07	In Business	Active	Director	0
Mondi Imbani Mining Supplies	2003/014099/07	AR Final deregistration	Active	Director	0

PREVIOUS BUSINESS INTERESTS: Lulama Simphiwe Mehlomakulu

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
Rzt Zelpy 4129	2005/008912/07	AR Final deregistration	Resigned	Director	0
Paperkem	2004/022233/07	In Business	Resigned	Director	0
Reatile Timrite	2004/014553/07	In Business	Resigned	Director	0
Misty Lake Trade And Invest 77	2008/014706/07	In Business	Resigned	Director	0

ACTIVE BUSINESS INTERESTS: Mbulelo Kroqwana

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
Imtrasel	1980/004157/07	In Business	Active	Director	0
Reatile Gaz	2006/003680/07	In Business	Active	Director	0

ACTIVE BUSINESS INTERESTS: Nomkhosi Makhathini

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
Inami Properties	2013/099046/07	In Business	Active	Director	0
Inami Legal Services	2013/099135/07	In Business	Active	Director	0
House Of Royalty Trading	2008/023429/23	AR Final deregistration	Active	Member	0
Hybrid Hr And Legal Solutions	2017/218378/07	In Business	Active	Director	0
M K Trading	2006/180713/23	AR Final deregistration	Active	Member	0
Khosi Makhathini Foundation	2017/351453/08	In Business	Active	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
Benadeevi Mahabeer	7402010082088	Company Secretary	Resigned	16/03/2006	0	0	0	0
Stephanie Anne Brown	640823	Company Secretary	Resigned	01/10/2002	5	3	0	0
Xoliswa Maphuma	7402200304082	Company Secretary	Resigned	01/07/2007	0	0	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
ABB113277	EASIGAS (Pty) Ltd	4077265332	Absa Bank	Alberton	632005	Verified by Bank Code

OPERATIONAL ACTIVITIES

Operational Activities Status	The following information was provided
Industry	Wholesale
Major Industry SIC Code	46610 - Wholesale of gasoline
MAJOR OPERATION Major Business Activities	The subject operates as a supplier and wholesaler of liquefied petroleum gas to the Southern African market.
Foreign Trade Activities	International
Agencies Held	Subject holds no agencies.
Franchises Held	The subject holds no franchises.
Major Suppliers	• Sikelela Steel • Sasol • Khomanane
Major Customers	• Retailers • The General Public • The Gas Industry
Major Brands	• Easigas • Reatile Gaz
Major Contracts	Subject operates on a contract basis, but declined information.

EXPORT ACTIVITIES

Subject exports

Exports To	To the value of
• Lesotho
• Swaziland
• Botswana
• Zimbabwe

IMPORT ACTIVITIES

Subject imports.

Imports From	To the value of
Middle East

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
Alrode	• Factory • Office • Depot		280	Leased	N/A
Durban	• Depot • Office • Factory				N/A
Kimberly	• Office • Factory • Depot				N/A
Port Elizabeth	• Depot • Office • Factory				N/A
Nigel	• Office • Depot • Factory				N/A
Maseru	• Depot • Factory • Office				N/A
Matsapa	• Depot • Factory • Office				N/A
Gaborone	• Office • Depot • Factory				N/A
East London	• Depot • Office • Factory				N/A
Cape Town	• Office • Depot • Factory				N/A
Germiston	• Office • Depot • Factory				N/A
Bloemfontein	• Factory • Depot • Office				N/A
Nelspruit	• Factory • Depot • Office				N/A

EMPLOYEES

Permanent Employees	250
Salaried Employees	250
GENERAL COMMENTS
General Comments	The respondent stated they do own vehicles, however, was unable to provide us with the correct figure

FINANCING TERMS

FINANCING TERMS

Sales Terms	30 Days
Overdraft Facility	The Subject has an overdraft facility.
Overdraft	25,000,000 ZAR
Overdraft Usage	Seldom
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

See attached financials for holding company

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
TR180424141	24/04/2018	N/A							Dormant account
TR180424126	24/04/2018	N/A							Company policy not to provide trade references
TR180424125	24/04/2018	N/A				50%			Number rings unanswered
TR180424123 TR1804233	24/04/2018	N/A							Company policy not to provide trade references
TR180424123 TR1804233	23/04/2018	N/A							Company policy not to provide trade references
TR1804232	23/04/2018	N/A							Company policy not to provide trade references
TR1804231	23/04/2018	Positive	30 Days (30 Days)	Open Account (3,000,000) (ZAR)	2015	75%		No	This is an excellent account.
TR17110928	09/11/2017	N/A							Awaiting response
TR17110920	09/11/2017	N/A							Company policy not to provide trade references
TR1711094	09/11/2017	N/A					100%		Dormant account
TR171108151	08/11/2017	Positive	30 Days (30 Days)	5,000,000 (2,500,000) (ZAR)	1992	100%	100%	Yes	This is an excellent account.

TRADE REFERENCE ANALYTICS

Number of valid Trade References	6
Overall Trade Score	83%
Average Usage of Terms	100%
Average Monthly Purchase	2,583,333 ZAR
Average Usage of Credit Limit	57%

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 66.78
UK Pound	1	INR 90.58
Euro	1	INR 79.97
ZAR	1	INR 5.35

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

INFORMATION DETAILS

Analysis Done by :	NIS

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)

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.

History	EASIGAS (PTY) LTD was registered in April 1981, and commenced operations immediately.

STATUTORY INFORMATION

Registered Name	EASIGAS
Registration Number	1981/003430/07
Type Of Company	Private Company
Registered Date	09/04/1981
Date Commenced Trading	09/04/1981
Commercial Status	In Business
Financial Year End	December

Contact Number	+27 11 389 7700
Email Address	David.rink@easigas.com
Fax Number	+27 11 864 9000
Website	www.easigas.com
Social Media Presence	The subject does not have a social media presence.
Registered Physical Address	Gate 5 Hibiscus Road Alrode Gauteng South Africa 1451
Trading Physical Address	Gate 5; Hibiscus Road Alrode Johannesburg Gauteng South Africa 1457
Postal Address	P O Box 17297 Randhart Gauteng South Africa 1457