MIRA INFORM REPORT

Report No. :	508931
Report Date :	17.05.2018

IDENTIFICATION DETAILS

Name :	COLUMBUS STAINLESS (PTY) LTD
Formerly Known As :	FINDIV FIVE INVESTMENT HOLDINGS
Registered Office :	Hendrina Road, Middelburg, Mpumalanga Mpumalanga 1050
Country :	South Africa
Date of Incorporation :	05.02.1999
Com. Reg. No.:	1999/002477/07
Legal Form :	Private Company
Line of Business :	The subject is involved in the manufacturing of stainless steel flat products
No. of Employees :	1,400

RATING & COMMENTS

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

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Good
Payment Behaviour :	Regular
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. Accounts are paid on due date. The subject has an excellent reputation. The subject is part of a well financed group. The subject is considered equal to its normal business engagements

COMPANY INFORMATION

OVERVIEW

History

COLUMBUS STAINLESS (PTY) LTD was registered in December 2001 utilising the details of a shelf entity styled FINDIV FIVE INVESTMENT HOLDINGS (PTY) LTD for registration purposes. In December 2001, the subject underwent a name change to its current name.

STATUTORY INFORMATION

Registered Name	COLUMBUS STAINLESS
Previous Names	FINDIV FIVE INVESTMENT HOLDINGS (21/12/2001)
Registration Number	1999/002477/07
Type Of Company	Private Company
Registered Date	05/02/1999
Date Commenced Trading	27/08/2001
Commercial Status	In Business
Financial Year End	December

CONTACT DETAILS

Contact Number	+27 13 247 9111
Email Address	Spies.sinta@columbus.co.za
Fax Number	+27 13 247 2707
Website	www.columbus.co.za
Social Media Presence	Facebook; LinkedIn
Registered Physical Address	Hendrina Road Middelburg Mpumalanga Mpumalanga South Africa 1050
Trading Physical Address	Hendrina Road Middelburg Mpumalanga South Africa 1050
Postal Address	P O Box 133 Middelburg Mpumalanga South Africa 1050

TAX INFORMATION

TAX INFORMATION

Income Tax Number

9275435841

VAT INFORMATION

VAT Status	The subject is registered for VAT (VAT number/s made available)
VAT Number	4640196368
Status	Active
Registered Name	COLUMBUS STAINLESS (PTY) LTD

OFFICERS AND PROFESSIONAL SERVICES

LIST OF OFFICERS AND PROFESSIONAL SERVICES

Type	Name	Contact Name	Contact Number
Auditor	Pricewaterhousecoopers Inc
Insurance	Marsh Insurance Brokers

OWNERSHIP STRUCTURE

SHAREHOLDING INFORMATION

CURRENT

Holding Company	Share	Type	Comment
Acerinox	76%	Holding Company	Incorporated in Spain
Shareholder/Member Name	Share/Interest	Type	Comment
Idc (Industrial Development Corporation)	24%	Shareholder

PRINCIPAL INFORMATION

Director / Member

Full Name	ID No.	Type	Status	DOA	Active Interests	Previous Interests	Judgments	Fraud Listing
Daniel Tomas Azpitarte Zemp	PAC945384	Director	Active	15/09/2017	0	0	0	0
Fernando Gutierrez Gonzalez	AE214018	Director	Active	01/11/2014	0	0	0	0
Fikile Sylvia Magubane	5507230727082	Director	Active	01/04/2015	1	4	0	0
Juan Manuel Vaquero Vilas	AAD970193	Director	Active	16/06/2016	0	0	0	0
Lindiwe Toyi	6112090762086	Director	Active	01/02/2006	7	3	0	0
Lucien Maurice Matthews	5907085019082	Director	Active	01/11/2014	1	1	0	0
Miguel Ferrandis	BE463961	Director	Active	16/01/2002	0	0	0	0
Leslie Boyd	3703035073085	Director	Deceased	01/06/2006	4	17	0	0
Anitha Louverdis	7204290095083	Director	Resigned	03/09/2008	0	0	0	0
Antonio Moreno Zorrilla	BF395191	Director	Resigned	05/05/2012	0	0	0	0
Bernardo Velazquez Herreros	6404130000000	Director	Resigned	07/06/2007	0	0	0	0
Christopher Richard Pointon	4802050000000	Director	Resigned	16/01/2002	0	0	0	0
Christopher William Popham Yates	3902265048086	Director	Resigned	05/02/1999	0	0	0	0
David Philip Martin	5503205084088	Director	Resigned	16/01/2002	6	2	0	0
Duncan Robert Mccallum	6107305020080	Director	Resigned	31/01/2001	28	13	0	0
Eric Kevin Diack	5708015063004	Director	Resigned	09/11/2001	0	0	0	0
Francisco Asis Ruiz Jimenez	AC401739	Director	Resigned	05/11/2010	0	0	0	0
Gert Stephanus Gouws	5902145018083	Director	Resigned	16/01/2002	11	9	0	0
Gesina Maria Beatrix Coetzer	580718004080	Director	Resigned	03/09/2008	0	0	0	0
Gezina Maria Beatrix Coetzer	5807180004080	Director	Resigned	09/11/2001	0	0	0	0
Goerge Rupert Pardoe	5702105028011	Director	Resigned	05/02/1999	0	0	0	0
Hlelo Ncanywa Giyose	7011295831085	Director	Resigned	06/04/2005	3	6	0	0
Hugo Swift	6003305088088	Director	Resigned	10/01/2002	9	9	0	0
Jacqueline Thomas	6902220046081	Director	Resigned	27/08/2001	1	11	0	0
Jorge Valverde Navas	19660623	Director	Resigned	22/02/2006	0	0	0	0
Jose Riestra	4607210000000	Director	Resigned	16/01/2002	0	0	0	0
Jose Luis Masi	4712130000000	Director	Resigned	07/02/2008	0	0	0	0
Luigi Matteucci	5401065026085	Director	Resigned	23/12/2004	2	5	0	0
Luis Gimeno Valledor	AAI151374	Director	Resigned	30/05/2014	0	0	0	0
Oswald Wolfe Gomez	AA873046	Director	Resigned	05/11/2010	0	0	0	0
Philip Charl Hechter	5101095105870	Director	Resigned	07/02/2007	0	0	0	0
Quintus Roux	5810305036086	Director	Resigned	07/02/2007	9	2	0	0
Rafael Naranjo	4402050000000	Director	Resigned	16/01/2002	0	2	0	0
Robert Pirie Garnett	4901165065082	Director	Resigned	05/02/1999	0	0	0	0
Trevor Edward Jones	4104065062081	Director	Resigned	16/01/2002	0	2	0	0
Valerie Lizeka Matshekga	7408160646087	Director	Resigned	03/06/2014	6	3	0	0
Rafael Garvin	4712050000000	Director	Disqualified	16/01/2002	0	0	0	0

ACTIVE BUSINESS INTERESTS: Fikile Sylvia Magubane

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
Henbase 3543	1997/011786/07	AR Final deregistration	Active	Director	0

PREVIOUS BUSINESS INTERESTS: Fikile Sylvia Magubane
Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
Khi Solar One (Rf)	2011/108898/07	In Business	Resigned	Director	0
Kaxu Solar One (Rf)	2011/109767/07	In Business	Resigned	Director	0
Kaxu Csp South Africa	2010/007644/07	In Business	Resigned	Director	0
Khi Csp South Africa	2010/006097/07	In Business	Resigned	Director	0

ACTIVE BUSINESS INTERESTS: Lindiwe Toyi

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
Afrisam (South Africa)	2006/005910/07	In Business	Active	Director	0
Afrisam Group	2011/139699/07	In Business	Active	Non-Executive Director	0
Afrisam Group	2011/139699/07	In Business	Active	Director	0
Public Investment Corporation	2005/009094/30	In Business	Active	Director	0
Public Investment Corporation	2005/009094/30	In Business	Active	Non-Executive Director	0
Linsab Investments	2012/189343/07	AR Deregistration Process	Active	Director	0
Afrisam (South Africa)	2006/005910/07	In Business	Active	Non-Executive Director	0

PREVIOUS BUSINESS INTERESTS: Lindiwe Toyi
Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
Duferco Steel Processing	1997/001976/07	In Business	Resigned	Director	0
Lodox Systems	2000/024615/07	In Business	Resigned	Director	0
Reactor ^Modular 1999/01794^0		In Business	Resigned	Director	0

ACTIVE BUSINESS INTERESTS: Lucien Maurice Matthews
Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
Libertas Manor Home Owners Association	2005/037506/08	In Business	Active	Director	0

PREVIOUS BUSINESS INTERESTS: Lucien Maurice Matthews
Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
Southern Africa Stainless Steel Development Association	2003/022992/08	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
Anthia Louverdis	7204290095083	Company Secretary	Active	03/09/2008	0	0	0	0
Allan Kaplan	5708175044083	Company Secretary	Resigned	25/08/2004	1	1	0	0
Fana Joseph Mabhena	6410275421084	Company Secretary	Resigned	08/02/2006	2	0	0	0
Jacob Pieter Potgieter	6003135085080	Officer	Resigned	05/10/2006	0	1	0	0
Lynette Reiners	7207240054084	Company Secretary	Resigned	28/08/2002	0	0	0	0

Other

No principals found for this principal type

BANK ACCOUNT INFORMATION

BANK ACCOUNT

Account Reference Number	Account Holder	Account Number	Bank Name	Branch Name	Branch Code	Verification Status
ABB118971	COLUMBUS STAINLESS (Ply) Ltd	62030028204	First National Bank (South Africa)	Corporate branch	254005	Verified by Bank Code

OPERATIONAL ACTIVITIES

Operational Activities Status	The following information was provided
Industry	Manufacturing
Major Industry SIC Code	24102 - Manufacture of tube fittings of steel, such as: threaded fittings
NACE Code	24,1 - Manufacture of basic iron and steel and of ferro-alloys

MAJOR OPERATION

Major Business Activities	The subject is involved in the manufacturing of stainless steel flat products.
Foreign Trade Activities	International
Agencies Held	Subject holds no agencies.
Franchises Held	The subject holds no franchises.
Major Suppliers	• Impala Platinum • Air Products • Cronimet
Major Customers	Subject declined to provide information.
Major Brands	Subject does not have any brands.
Major Contracts	Subject does not operate on a contract basis.

EXPORT ACTIVITIES

Subject exports

Exports To	To the value of
• United States • Middle East • Europe

OPERATIONAL FOOTPRINT

Operational Footprint Status

The following information was provided

BRANCH & PREMISES INFORMATION

Location	Description/Type	Size (m^2)	# of Staff	Rented or Owned	Lease Expiry Date
Middelburg	• Warehouse • Office • Factory		1,400	Owned	N/A
Port Elizabeth	• Office • Warehouse • Factory				N/A
Cape Town	• Warehouse • Factory • Office				N/A
Durban	• Office • Factory • Warehouse				N/A

EMPLOYEES

Permanent Employees	1,400
Salaried Employees	1,400

GENERAL COMMENTS

General Comments

Details relating to the fleet could not be obtained.

FINANCING TERMS

GENERAL COMMENTS
General Comments	Financing terms could not be obtained.

FINANCIAL FIGURES

GENERAL COMMENTS

GENERAL COMMENTS

2017 Annual report for the holding company attached

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
TR18051520	15/05/2018	Positive	60 Days (60 Days)	Confidential (Confidential)	2003	83%	50%	No	This is an excellent account.
TR18051516	15/05/2018	Positive	30 Days (30 Days)	15,000,000 (11,000,000) (ZAR)	2005	100%	100%	No	This is an excellent account.
TR18051510	15/05/2018	Positive	60 Days (60 Days)	Open Account (64,000,000) (ZAR)		83%		No	This is an excellent account.
TR17120565	05/12/2017	N/A							Awaiting response
LTR16030828	08/03/2016	N/A							Company policy not to provide trade references
LTR16022526	25/02/2016	N/A							Company policy not to provide trade references
LTR16022516	25/02/2016	N/A							Relevant person unavailable
LTR16022517	25/02/2016	N/A							Relevant person unavailable

TRADE REFERENCE ANALYTICS

Number of valid Trade References	16
Overall Trade Score	88%
Average Usage of Terms	100%
Average Monthly Purchase	16,858,333 ZAR

COURT NOTICES

No judgments on file in the name of the subject

No liquidation applications on file in the name of the subject

ATTACHMENTS

File	Module	Category	Date	Comment
Audited Financial Statements_ December 2017.pdf	Financial Figures	Financial Statements	2018-05-10 02:33:11 PM

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.83
UK Pound	1	INR 91.68
Euro	1	INR 80.29
ZAR	1	INR 1133.20

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

INFORMATION DETAILS

Analysis Done by :	PRI
Report Prepared by :	KET

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)

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