MIRA INFORM REPORT

 

 

Report Date :

27.05.2011

 

IDENTIFICATION DETAILS

 

Name :

EMDEE TEXTILE ENTERPRISES CC

 

 

Registered Office :

Suite 317, IPCI Centre, 142 Queen Street, DURBAN 4001

 

 

Country :

South Africa

 

 

Date of Incorporation :

07.02.1986

 

 

Com. Reg. No.:

1989/003169/23

 

 

Legal Form :

Closed Corporation

 

 

Line of Business :

---

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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 – March 31st, 2010

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

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

 

EMDEE TEXTILES

 

 

PHYSICAL ADDRESS

 

40 Brick Field Road

OVERPORT

Kwazulu-Natal

 

 

POSTAL ADDRESS   

 

P O Box 30307

MAYVILLE

4058

 

TELEPHONE NUMBER:               031 208 1223

 

On investigation it was established that the registered name of the subject is EMDEE TEXTILE ENTERPRISES CC, trading as CURTAIN CONCEPTS.  Contact was made with the respondent at the subject who declined to assist with any information telephonically and requested that an e-mail questionnaire be forwarded, which was duly sent.  As soon as information is forthcoming, the same will be compiled and forwarded to our client.

 

Nevertheless, please see statutory information obtained from CIPC below:

COMPANY NAME

 

EMDEE TEXTILE ENTERPRISES CC

 

 

ADDRESSES ON CIPC

 

PHYSICAL ADDRESS

 

Suite 317

IPCI Centre

142 Queen Street

DURBAN

4001

 

 

POSTAL ADDRESS   

 

P O Box 796

DURBAN

4000

 

 

MEMBERS:

 

ISMAIL GOOLAM MAHOMED DESAI

ID No. 5002185017051

Residential Address: 147 Dunkeld Road, Reservoir Hills, Durban

Postal Address: P O Box 3308, Durban 4000

Interest Held: 100%

 

 

DATE REGISTERED

 

7 February 1989

Registration Certificate Number: 1989/003169/23

 

 

MEMBERS CONTRIBUTION:

 

R100

 

 

YEAR END    

 

FEBRUARY

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.29

UK Pound

1

Rs.73.84

Euro

1

Rs.64.18

 

 

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.