MIRA INFORM REPORT

Report Date :

23.02.2011

IDENTIFICATION DETAILS

Name :	M G B AGENCIES CC
Registered Office :	9 Rintoul Street, Sidwell Port Elizabeth 6001
Country :	South Africa
Date of Incorporation :	02.08.1989
Com. Reg. No.:	1989/024827/23
Legal Form :	Closed Corporation
Line of Business :	-----

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

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 – June 30, 2010

Country Name	Previous Rating (01.04.2010)	Current Rating (30.06.2010)
South Africa	a2	a2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

COMPANY NAME

ALL TOOLS AND ABRASIVES

PHYSICAL ADDRESS

9 Rintoul Street

Sidwell

Port Elizabeth

Eastern Cape

Telephone Number: 041 453 7515

Fax Number: 041 451 1581

On investigation it was established that the correct registered name of the subject is M G B AGENCIES CC (Registration Certificate Number: 1989/024827/23) trading as ALL TOOLS AND ABRASIVES.

Please see the report on M G B AGENCIES CC attached.

COMPANY NAME

M G B AGENCIES CC

TRADING NAME

ALL TOOL AND ABRASIVES

PHYSICAL ADDRESS

9 Rintoul Street

Sidwell

Port Elizabeth

Eastern Cape

Telephone Number: 041 453 7515

Fax Number: 041 451 1581

On investigation contact was made with one of the members, MRS. C BRENT, who declined to assist with information unless the identity of the enquirer and reasons for the enquiry are known. It would be appreciated if our client could assist the investigator with the name of the principle enquirer, in order to finalise our investigation.

Nevertheless, the following information was obtained:

COMPANY NAME

M G B AGENCIES CC

ADDRESSES ON CIPRO RECORDS

PHYSICAL ADDRESS:

9 Rintoul Street

Sidwell

Port Elizabeth

6001

POSTAL ADDRESS:

P O Box 14048

Sidwell

6061

MEMBERS

CAROL-ANNE BRENT

ID No. 5701010120085

Residential Address: 1 Ravel Road, Walmer Heights, Port Elizabeth, 6070

Postal Address: As above mentioned

Date Appointed: 8 September 1991

Interest: 50%

GAVIN DWIGHT BRENT

ID No. 5402025082002

Residential Address: 1 Ravel Road, Walmer Heights, Port Elizabeth, 6070

Postal Address: As above mentioned

Date Appointed: 6 September 2000

Interest: 50%

DATE REGISTERED

2 August 1989

Registration Certificate Number: 1989/024827/23

The subject converted from M G B AGENCIES (PTY) LTD (Registration Certificate Number: 1967/000757/07)

MEMBERS CONTRIBUTION

R400

ACCOUNTING OFFICER

RONEL LANDMAN

Business Address: 19 Weybridge Drive, Weybridge Park, Port Elizabeth

YEAR END

FEBRUARY

COMMENTS

In view of the lack of information on the subject, we are not in a position to recommend credit dealings to an extent of US$1 000 000 DA.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.20
UK Pound	1	Rs.73.07
Euro	1	Rs.61.41

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

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 and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

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.