MIRA INFORM REPORT

Report Date :

02.03.2011

IDENTIFICATION DETAILS

Name :	TRACLO (PTY) LTD
Formerly Known As :	TRANSVAAL CLOTHING INDUSTRIES (1979) (PTY) LTD
Registered Office :	Nine Sturdee Avenue, Rosebank 2121
Country :	South Africa
Date of Incorporation :	17.05.1978
Com. Reg. No.:	1978/001726/07
Legal Form :	Private Company
Line of Business :	Manufacturers of ladies ready to wear fashion

RATING & COMMENTS

MIRA’s Rating :

C

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Undetermined
Payment Behaviour :	-----
Litigation :	-----

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 – December 31, 2010

Country Name	Previous Rating (30.09.2010)	Current Rating (31.12.2010)
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

TRACLO (PTY) LTD

PHYSICAL ADDRESS

2^nd Floor

Across City

5 Beach Road

New Doornfontein

Johannesburg

Gauteng

POSTAL ADDRESS

P O Box 16790

Doornfontein

2028

Telephone Number: 011 402 3815

Fax Number: 011 404 3993

On investigation contact was made with the Financial Manager, 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 investigations.

Nevertheless, the following information was obtained:

COMPANY NAME

TRACLO (PTY) LTD

Formerly TRANSVAAL CLOTHING INDUSTRIES (1979) (PTY) LTD, the name having been changed on 27 November 2002.

ADDRESSES ON CIPRO

PHYSICAL ADDRESS:

Nine Sturdee Avenue

Rosebank

2121

POSTAL ADDRESS:

P O Box 47163

Parklands

2121

SHAREHOLDERS

100% STAMFORD HILL INVESTMENT HOLDINGS (PTY) LTD

(Registration Certificate Number: 1992/005256/07)

ASSOCIATE COMPANIES

TRACLO INTERNATIONAL (PTY) LTD

(Registration Certificate Number: 1948/029035/07)

FASHION INTERNATIONAL (PTY) LTD – registered in Swaziland

ALICEWEAR (PTY) LTD

(Registration Certificate Number: 1988/000229/07)

GAUTENG CLOTHING (PTY) LTD

(Registration Certificate Number: 1955/001134/07)

NEWCLO (PTY) LTD

(Registration Certificate Number: 1955/000195/07)

DIRECTORS

MICHAEL ANDRE DESTOMBES

ID No. 5108185129000

Residential Address: 22 Haris Road, Sandown Ext. 33, 2031

Postal Address: P O Box 8032, Johannesburg, 2000

Date Appointed: 7 January 1981

DAVID MICHAEL JACOBS

ID No. 5912155103006

Residential Address: 5 Beacon Road, New Doornfontein, 2094

Postal Address: P O Box 8032, Johannesburg, 2094

Date Appointed: 20 October 1988

DATE REGISTERED

17 May 1978

Registration Certificate Number: 1978/001726/07

MAJOR OPERATIONS

Manufacturers of ladies ready to wear fashion.

AUDITORS

UHY HELLMANN (SA)

Business Address: 9 Sturdee Avenue, Rosebank, Johannesburg, 2196

Postal Address: P O Box 47163, Parklands, 2121

YEAR END

DECEMBER

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.12
UK Pound	1	Rs.73.43
Euro	1	Rs.62.32

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.