MIRA INFORM REPORT
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Report Date : |
13.07.2011 |
IDENTIFICATION DETAILS
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Name : |
RAZVI TRADING CC |
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Registered Office : |
Unit 4b Furniture
Gallery, 117 Old Richards Drive, Midrand, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
07.12.2002 |
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Com. Reg. No.: |
2002/105465/23N |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Importing and wholesaling of Eastern carpets and rugs |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
South Africa |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Assessment:
This is a fairly small business that imports
its carpets from the Far East only a few times a year.
There are no judgements on the subject or on
the principal.
Your figure is considered as far too high.
It is suggested dealings be on a Letter of
Credit basis.
Company Information
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Registered
Name |
RAZVI TRADING CC |
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Trading
as/ Division Name |
QAALEEN |
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Previous Name |
None |
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Date of Name
Change |
None |
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Registration
Number |
2002/105465/23N |
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Registration
Date |
2002-12-07 |
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Date
Commenced Trading |
2002 |
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History
of Business |
The subject commenced as a new business in 2002. |
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History
of Principals |
Mr Naseem was previously involved in the carpet trade in India. |
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Members
of subject and % holding |
100% M M NASEEM |
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Members
Contribution |
R10 000 |
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Age
of Company |
8 years 7 months |
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Status |
In Business |
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Operations
Assessment |
Importing and wholesaling of Eastern
carpets and rugs. |
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Industry/
Customers |
Retailers, wholesalers and public. |
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Major
Industry Code / SICC |
61909 Wholesale, Retail |
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Definition
of Code |
Other wholesale trade n.e.c |
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Head
Office Physical Address |
Unit 4B Furniture Gallery 117 Old Richards Drive MIDRAND Gauteng |
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Head Office
Postal Address |
P O Box 3371 MIDRAND 1685 |
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Current Tel
Number Cell number |
011 3155700 |
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Current Fax
Number |
None |
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Current Email
Address |
qaaleen@telkomsa.net |
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Web Site Address |
www.qaaleen.co.za |
Auditors Information
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Company
Registered Name |
AN ACCOUNTING SERVICES CC |
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Trading Name |
None |
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Registration
Number |
2007/123469/23 |
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Physical Address |
101 and 102 Blairgord Centre 115 Blairgowrie Drive BLAIRGOWRIE Gauteng |
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Postal Address |
As above |
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Contact Person |
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Contact Number |
0721551814 |
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Email |
augustine@anaccounting.co.za |
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Principals |
50% S KULWANI 50% A MULENGA |
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Judgements
Against Subject |
None |
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Judgements
Against Principals |
None |
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Subject Verified
as Client |
Yes |
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SAICA number |
None, subject is an accounting officer not a registered auditor. |
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VAT Number |
None |
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Tax Number |
9424424167 |
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BEE Status |
Yes |
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Financial Year
End |
February |
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Years With
Auditors |
2 years |
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Website |
No |
Previous Auditors
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Company Name/ Tel |
Time With Previous Auditors |
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None |
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Tax Information
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Vat Number |
4660213481 |
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Status |
Active |
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Vat Liable Date |
August |
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Tax Number |
9017037160 |
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Tax Clearance
Expire Date |
October |
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Financial Year
End |
October |
Black Economic
Empowerment
|
Status |
Yes |
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Score |
Unknown |
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Expire Date |
Next year? |
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BEE Certificate
Available |
No |
ISO Status
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Type of ISO
Grade |
None |
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ISO Certificate |
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ISO Certificate
Available |
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Certified by an
Accredited Agent |
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Workman’s
compensation
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Registered |
Yes |
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Compliance
Certified |
Yes |
Company Structure
|
Branches |
1 |
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Branches Names |
Country |
Province |
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QAALEEN |
SA – IN
Centurion |
GAUTENG |
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Subsidiary
Company |
None |
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Shareholding |
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Registration
Number |
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Import / Export |
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Number of
Employees |
1 |
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1.
Salaried
employees |
1 |
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2.
Waged
employees |
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3.
Permanent
employees |
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4.
Casual
employees |
Up to 6 on
occasion when deliveries are received. |
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5.
Contracted
employees |
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Company Fleet |
1 |
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Fleet Operations |
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The Fleet is
made up of |
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1.
Cars |
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2.
Light
Delivery Vehicles |
1 owned by the
company |
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3.
Trailers |
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4.
Busses |
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5.
Trucks |
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6.
Fork
Lifts |
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7.
Other |
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Head Office
Owned/ Rented |
Rented |
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Rental Company |
KRISP PROP 4 (PTY) LTD |
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Lease Agreement |
1 year |
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Lease Expire
Date |
Beginning of 2010 |
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Type of Premises |
Office and Storeroom |
Branches Owned/
Rented |
Rented |
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Rental Company |
@REDS MALL |
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Lease Agreement |
2 years |
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Lease Expire
Date |
End of 2011 |
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Type of Premises |
Retail, shop |
Trade References
The company imports
its products from the Far East and therefore only deals locally with clearing
agents as seen below.
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Supplier |
Contact |
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READS SHIPPING |
0116431170 |
Trade References
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Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average
Purchases |
Terms Taken |
Comment |
|
4-5 years |
None |
R500 000 3 to 4 times a
year |
30 days |
Up to R500 000 |
30 days |
Very good |
Adverse
Information on Subject
|
Judgements |
None |
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Possible
Judgements |
None |
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Civil Court |
None |
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RDs |
None |
Default Data
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Date |
Details |
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None |
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Notarial Bonds
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Date |
Details |
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None |
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Deeds Information
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Property Interest |
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Property Type: |
None |
Stand Number: |
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Street Number: |
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Street Name: |
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Municipal Suburb: |
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Municipal City: |
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Township Name: |
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Province: |
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Deeds Office: |
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Transfer ID: |
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Title Deed Number: |
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Purchase Date: |
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Transfer Date: |
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Erf Size: |
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Sold Price: |
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Bank Information
|
Bank |
NEDBANK |
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Branch |
Penny Lane, MIDRAND |
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Bank Account
Number |
1686166710 |
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Type of account |
Current |
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Branch Code |
Unknown |
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Account Name |
RAZVI TRADING CC |
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Date Opened |
10-05-2004 |
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Bank Code |
C |
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Bank Comment |
The subjects bankers consider them as equal to their normal business
engagements and to a figure of R100 000 over 30 days. |
Bank Codes History
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Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
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None |
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Previous Bank
Accounts
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Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
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None |
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Financial Information
Financial
Estimates
Respondents at the subject could not assist with financial data however it was stated that they import 3 to 4 times a year, each import totaling about R500 000.
Principals
|
Number of
Principals |
1 |
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Average Age of
Active Principals |
64 |
Active Principals
Principal 1 of 1
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Surname |
MOHAMMED NASEEM |
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First Names |
MOHAMMED |
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Marital Status |
Married |
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ID Number |
4703125646088 |
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Verified ID
Number |
Yes |
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Current Age |
64 |
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Designation |
Businessman/ Member |
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Status |
Active |
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Appointment Date |
2006-11-20 |
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Address (at time of
Appointment) |
Unit 3 Sunset Valley Berger Street VORNA VALLEY Midrand |
Adverse Information on
Principal
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information on
Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
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None |
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Previous Business
Interests
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Average Age of
Previous Business Interests |
None |
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
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None |
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Deeds Information
Property Interests of
Principle
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Property Interest |
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Title Deed No. |
None |
Erf/Site No. |
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Deeds Office |
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Physical Address |
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Property Type |
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Extent / Size |
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Purchase Date |
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Purchase price |
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% Ownership |
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Bond Holder |
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Bond Number |
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Bond Amount |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.69 |
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UK Pound |
1 |
Rs.70.87 |
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Euro |
1 |
Rs.62.26 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.