MIRA INFORM REPORT

Report Date :

12.05.2011

IDENTIFICATION DETAILS

Correct Name :	EBRAHIM MINTY

Registered Office :	Crn Emily Hobhouse And Braam Fischer Street, Klerksdorp, North West

Country :	South Africa

Year of Establishment :	1989

Legal Form :	Sole Proprietor

Line of Business :	Importers, distributors and retailers of linen and upholstery

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Moderate

Payment Behaviour :	No Complaints

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 – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

South Africa

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

Note:

(The information contained in this report, other than comment by outside authorities, has been voluntarily supplied by officials of the subject):

SOLE PROPIETOR

EBRAHIM MINTY

ID No. 3404255061088

TRADING NAME

ESSOPS LINEN HOUSE

PHYSICAL ADDRESS

Crn Emily Hobhouse And Braam Fischer Street

Klerksdorp

North West

Postal Address

P O Box 26

Klerksdorp

2570

Telephone Number: 018 462 3086

Fax Number: 018 462 3135

ASSOCIATE COMPANIES

It was stated by the respondent that E MINTY is involved in other businesses, however, the names were not forthcoming.

BANKERS

FIRST NATIONAL BANK, Wilkoppies, Shop 3. It was stated that the subject enjoys overdraft facilities. However, further information was not forthcoming.

DATE STARTED

1989

VAT NUMBER

4840118956

MAJOR OPERATION

Importers, distributors and retailers of linen and upholstery

MAJOR SUPPLIERS

· NETTEX

· BHADELIA WHOLESALERS

· NATIONAL FABRICS

MAJOR CUSTOMERS OR BUSINESS SECTORS

Retailers and public

AREA OF DISTRIBUTION AND SELLING

North West Province

EXPORTS

None

TOTAL EMPLOYEES

±30

OTHER PREMISES

None

OWNED OR LEASED

The premises are reported to be owned by a property owning company within the group. It was also stated that E MINTY is married and owns his home premises.

Full financial information was not forthcoming from respondents at the subject, however, it was stated that the Stock is ±R5 000 000 and annual turnover is ±R11 000 000.

AUDITORS

BOBAT AND ASSOCIATES

YEAR END

FEBRUARY

INSURANCE BROKERS

LAHER INSURANCE BROKERS

TRADE REFERENCES

ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE

OPENED CREDIT CREDIT PATTERN

1. 1985 undisclosed undisclosed 30/90 days 30/90 days Very Good

2. March 2011 undisclosed R200 000 30 days 30 days New Acc

3. 5+ years undisclosed R 50 000- 30/90 days 30/90 days Excellent

R190 000

COMMENTS

This is an established business meeting its commitments as arranged. We have not traced dealings to an extent of US$1 000 000 and would prefer to see a far lesser amount well spread.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.69
UK Pound	1	Rs.73.12
Euro	1	Rs.64.39

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
----	NB	New Business	----

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.