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MIRA INFORM REPORT
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Report No. : |
506300 |
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Report Date : |
08.05.2018 |
IDENTIFICATION DETAILS
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Name : |
UBUNYE
UNIFORMS (PTY) LTD |
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|
|
|
Formerly Known As : |
IXIA
TRADING 251 (27/08/2001) THE
UNIVERSAL UNIFORM CO (30/08/2004) |
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|
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Registered Office : |
98
Intersite Avenue, Umgeni Business Park, Kwa-Zulu Natal 4001 |
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Country : |
South Africa |
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Date of Incorporation : |
12.07.2001 |
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Com. Reg. No.: |
2001/014698/07 |
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Legal Form : |
Private Company |
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Line of Business : |
· Manufacture of articles made of fur skins: wearing apparel and clothing accessories. · The subject is involved in the design and manufacturing of corporate uniforms |
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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 |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Unknown |
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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 was uncooperative; therefore we are unable to comment on your
enquiry. |
COMPANY
INFORMATION
OVERVIEW
|
History
|
UBUNYE UNIFORMS (PTY) LTD was registered in
July 2001 when a shelf entity styled IXIA TRADING 251 (PTY) LTD was utilised
for registration purposes. The subject underwent multiple name changes, the
latest in August 2004 from THE UNIVERSAL UNIFORM CO (PTY) LTD to the current
name. |
STATUTORY INFORMATION
|
Registered
Name |
UBUNYE
UNIFORMS |
|
Previous
Names |
IXIA
TRADING 251 (27/08/2001) THE
UNIVERSAL UNIFORM CO (30/08/2004) |
|
Registration
Number |
2001/014698/07 |
|
Type
Of Company |
Private
Company |
|
Registered
Date |
12/07/2001 |
|
Date
Commenced Trading |
27/08/2001 |
|
Commercial
Status |
In
Business |
|
Financial
Year End |
February |
CONTACT
DETAILS
|
Email
Address |
|
|
Website |
|
|
Social
Media Presence |
The
subject does not have a social media presence. |
|
Registered
Physical Address |
98
Intersite Avenue Umgeni
Business Park Umgeni
Business Park Kwa-Zulu
Natal South
Africa 4001 |
|
Postal
Address |
P
O Box 201763 Durban
North Kwa-Zulu
Natal South
Africa 4016 |
GENERAL COMMENTS
|
Comments |
The
subject was reluctant in assisting us telephonically with the required
information and requested an emailed questionnaire. This was duly sent.
However, to date there has been no response, despite our having followed up
on numerous occasions. 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 |
9079290145 |
|
|
|
|
VAT INFORMATION |
|
|
VAT
Status |
The
subject is registered for VAT (VAT number/s made available) |
|
VAT
Number |
4130196266 |
|
Status |
Active |
|
Registered
Name |
UBUNYE
UNIFORMS (PTY) LTD |
OFFICERS
AND PROFESSIONAL SERVICES
LIST OF OFFICERS AND
PROFESSIONAL SERVICES
|
Type |
Name |
Contact Name |
Contact Number |
|
Auditor |
R
I Kennedy & Associates |
|
|
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 |
|
Christopher
John Pio |
6712125067086 |
Director |
Active |
13/05/2005 |
2 |
0 |
0 |
0 |
|
Jabulani
Christie Ngwane |
5609105889086 |
Director |
Active |
13/05/2005 |
4 |
0 |
0 |
0 |
|
Johannes Bhekumuzi Magwaza
|
4205055607080 |
Director |
Active |
01/09/2005 |
0 |
0 |
0 |
0 |
|
Rene
Cilliers |
6005265085087 |
Director |
Active |
03/03/2016 |
2 |
1 |
0 |
0 |
|
Richard Mcglashan Keith |
6312195171080 |
Director |
Active |
07/09/2001 |
1 |
0 |
0 |
0 |
|
Rodney Vaughan Alborough |
5908085042082 |
Director |
Active |
07/09/2001 |
1 |
0 |
0 |
0 |
|
Christian
Gouws |
5908285147004 |
Director |
Resigned |
12/07/2001 |
0 |
0 |
0 |
0 |
|
Leon Le Roux |
5906125094089 |
Director |
Resigned |
01/06/2005 |
2 |
10 |
0 |
0 |
ACTIVE BUSINESS INTERESTS: Christopher John
Pio
|
Company Name |
Registration No. |
Business Status |
Principal Status |
Principal Type |
Judgments |
|
Ed
Sport Trading |
2016/045471/07 |
In
Business |
Active |
Director |
0 |
|
United
Uniforms |
2017/663866/07 |
In
Business |
Active |
Director |
0 |
ACTIVE BUSINESS INTERESTS: JABULANI
CHRISTIE NGWANE
|
Company Name |
Registration No. |
Business Status |
Principal Status |
Principal Type |
Judgments |
|
Isinezelo
Marketing |
2006/211283/23 |
AR
Final deregistration |
Active |
Member |
0 |
|
Quarter
Master Stores |
2016/493584/07 |
In
Business |
Active |
Director |
0 |
|
Bria
Chadasha Holdings |
2015/307092/07 |
AR
Deregistration Process |
Active |
Director |
0 |
|
Uuc
Factory Shop |
2001/017011/07 |
AR
Final deregistration |
Active |
Director |
0 |
ACTIVE BUSINESS INTERESTS: Rene Cilliers
|
Company Name |
Registration No. |
Business Status |
Principal Status |
Principal
Type |
Judgments |
|
United
Uniforms |
2017/663866/07 |
In
Business |
Active |
Director |
0 |
|
Five At Champagne Properties |
2002/023027/07 |
In
Business |
Active |
Director |
0 |
PREVIOUS
BUSINESS INTERESTS: Rene Cilliers
|
Company Name |
Registration No. |
Business Status |
Principal Status |
Principal
Type |
Judgments |
|
Boshard
Investments |
2002/007097/07 |
AR
Final deregistration |
Resigned |
Director |
0 |
ACTIVE BUSINESS INTERESTS: Richard Keith
Mcglashan
|
Company Name |
Registration No. |
Business Status |
Principal Status |
Principal
Type |
Judgments |
|
United
Uniforms |
2017/663866/07 |
In
Business |
Active |
Director |
0 |
ACTIVE BUSINESS INTERESTS: Rodney Vaughan
Alborough
|
Company Name |
Registration No. |
Business Status |
Principal Status |
Principal
Type |
Judgments |
|
United
Uniforms |
2017/663866/07 |
In
Business |
Active |
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
GENERAL
COMMENTS
|
General
Comments |
Banking
details were declined. |
OPERATIONAL
ACTIVITIES
|
Operational
Activities Status |
The
following information was provided |
|
Industry |
Manufacturing |
|
Major
Industry SIC Code |
14200
- Manufacture of articles made of fur skins: wearing apparel and clothing
accessories |
|
NACE
Code |
32
- Other manufacturing |
|
MAJOR
OPERATION |
|
|
Major
Business Activities |
The
subject is involved in the design and manufacturing of corporate uniforms. |
|
Foreign
Trade Activities |
National |
|
Agencies
Held |
Subject
holds no agencies. |
|
Franchises
Held |
The
subject holds no franchises. |
|
Major
Suppliers |
Subject
declined to provide information. |
|
Major
Customers |
The
Corporate Sector |
|
Major
Brands |
Subject
does not have any brands. |
|
Major
Contracts |
Subject
operates on a contract basis, but declined information. |
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 |
|
Durban |
Factory
Office |
|
|
|
N/A |
|
Cape
Town |
Office Factory
|
|
|
|
N/A |
|
Johannesburg |
Factory
Office |
|
|
|
N/A |
|
Port Elizabeth |
Factory
Office |
|
|
|
N/A |
GENERAL COMMENTS
|
General
Comments |
Additional
information could not be obtained. |
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 |
Supplier
details were declined. |
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 67.11 |
|
|
1 |
INR 90.85 |
|
Euro |
1 |
INR 80.12 |
|
ZAR |
1 |
INR 5.33 |
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.