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MIRA INFORM REPORT
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Report Date : |
31.05.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
SILK WHOLESALERS (PTY) LTD |
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Registered Office : |
32 Sir Lowry Road, Cape Town |
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Country : |
South Africa |
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Date of Incorporation : |
15.10.1998 |
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Com. Reg. No.: |
1998/020550/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Litho and Screen Print |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Undetermined |
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Payment
Behaviour : |
---- |
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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, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 |
Company Information
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Registered
Name |
Silk Wholesalers (Pty) Ltd |
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Registration
Number |
1998/020550/07 |
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Registration
Date |
1998-10-15 |
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Date Commenced
Trading |
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History of
Business |
The company was formerly a CC and converted to a (Pty) Ltd company in
1998. Mr S Essop wa the % member in
the CC. |
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Shareholders of
subject and % holding |
100% Mr Sulaiman Essop |
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Age of Company |
13 years |
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Status |
Active |
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Major Industry
Code |
06- Litho and Screen Print |
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Head Office
Physical Address |
32 Sir Lowry Road Cape Town |
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Head Office
Postal Address |
P O Box 1559 Cape Town 8001 |
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Current Tel
Number |
021 4621286/1287 |
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Current Fax
Number |
021 4618436 |
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Current Cell
Number |
082 557 2047 |
Tax Information
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Vat Number |
4130180468 |
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Vat Liable Date |
1999-04-01 |
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Status |
Active |
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Tax Number |
9628057037 |
Adverse Information on Subject
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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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Auditors Information
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Company
Registered Name |
BDO Inc formerly BDO Spencer Steward (Cape Town) Inc |
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Trading Name |
BDO |
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Registration
Number |
1999/018618/21 |
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Physical Address |
Broadway Centre Hertzog Boulevard Foreshore Cape Town |
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Postal Address |
P O Box 2275 Capetown 8001 |
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Contact Person |
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Contact Number |
021 4193800 |
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Judgements
Against Subject |
None |
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Judgements
Against Diretors |
None |
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VAT Number |
4460184254 |
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Tax Number |
939604030 |
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Website |
www.bdo.co.za |
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Financial Year
End |
February |
Previous Auditors
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Company Name/ Tel |
Time With Previous Auditors |
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Nexia Josman Seidal |
Unknown |
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Valentine Sargent |
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Mc Dowell Caradoc Davies |
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PG Napier |
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Bank Information
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Bank |
First National Bank |
Deeds Information
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Property Interest 1 of 1 |
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Property Type: |
None for Subject |
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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Principals
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Number of Principals |
1 |
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Average
Age of Active Principals |
59 |
Active Principals
Principal 1 of 2
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Surname |
Essop |
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First Names |
Sulaiman |
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ID Number |
5110025196058 |
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Current Age |
59 |
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Designation |
Director and Shareholder |
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Status |
Active |
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Appointment Date |
1998-10-15 |
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Address
(at
time of Appointment) |
21 Anglesey Road Rondebosch East Western Cape 7780 |
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ID Verification |
Yes |
Adverse Information on Principal
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Number of
Judgements |
None |
Debt Review
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Debt review |
None |
Other
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Default data |
None |
Business Information on Principal
Current Business
Interests
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
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Henque 2041 CC |
1999/035061/23 |
In
Business |
0 |
No |
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The Islamic Council Of South Africa Halaal
Fund (Pty ) Ltd |
2001/028394/07 |
In
Business |
0 |
No |
Previous Business
Interests
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Average Age of
Previous Business Interests |
22 years |
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
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Ram
Premesh Property Investments CC |
1989/013097/23 |
In Business |
0 |
No |
Deeds Information
Property Interests
of Principal
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Property Interest 1 of 1 |
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Title Deed No. |
T25776/1998 |
Erf/Site No. |
0 |
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Deeds Office |
Cape Town |
Physical Address |
23 Anglesey Rondebosch East Southern Suburbs Western Cape |
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Property Type |
Freehold/ Ervin |
Extent / Size |
446 SQM |
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Purchase Date |
1998-01-14 |
Purchase price |
290 000.00 |
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% Ownership |
0.00000 |
Bond Holder |
Albaraka Bank |
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Bond Number |
B173021998 |
Bond Amount |
174 132.00 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.10 |
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UK Pound |
1 |
Rs.74.27 |
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Euro |
1 |
Rs.64.35 |
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.