MIRA INFORM REPORT

 

 

Report Date :

12.05.2011

 

IDENTIFICATION DETAILS

 

Name :

NICEWAY COSMETICS CC

 

 

Registered Office :

Corner Marshall and McIntyre Streets Jeppestown Johannesburg 2094

 

 

Country :

South Africa

 

 

Date of Incorporation :

26.11.1985

 

 

Com. Reg. No.:

1985/014194/23

 

 

Legal Form :

Close 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 – 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

 

NICEWAY COSMETICS CC

 

 

PHYSICAL ADDRESS    

 

29 Park Street

Jeppestown

JOHANNEBURG

Gauteng

 

POSTAL ADDRESS:    

P O Box 53663

TROYEVILLE

2139

           

TELEPHONE NUMBER: 011 624 2325

 

FAX NUMBER:                          011 614 1461

 

On investigation contact was made with M LAHER MAHOMED SELIM who declined to assist the investigator with any information regarding the subject unless the name of the principal enquirer and the reasons for the enquiry are known.

 

It would be appreciated if our client could assist the investigator with the name of the principal enquirer in order to finalise our investigation.

 

Nevertheless, please see statutory information obtained from CIPC below:

 

COMPANY NAME

 

NICEWAY COSMETICS CC

 

TRADING NAME:         

NICEWAY COSMETICS

 

 

ADDRESSES ON CIPRO

 

PHYSICAL ADDRESS: 

Corner Marshall and McIntyre Streets

Jeppestown

JOHANNESBURG

2094

 

POSTAL ADDRESS:    

P O Box 42264

FORDSBURG

Gauteng

 

 

DATE REGISTERED

 

26 November 1985

Registration Certificate Number: 1985/014194/23

 

VAT NUMBER:              4730108877

 

TAX NUMBER:              9435172847

 

 

YEAR END

 

FEBRUARY

 

 

COMMENTS

 

This is a well established close corporation.  In view of the lack of information on the subject, we are not in a position to recommend credit dealings to the extent of US$1 000 000.

 

 

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.