MIRA INFORM REPORT
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Report Date : |
03.11.2011 |
IDENTIFICATION DETAILS
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Name : |
PERSIAN DREAM TRADING CC |
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Registered Office : |
151 Blairgowrie Drive, Randburg, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
12.05.2005 |
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Com. Reg. No.: |
B2005/049532/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Import and sales of Persian and Oriental rugs. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Usually Correct |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 |
Assessment:
This is an established small business.
The subject is not a general credit seeker locally however is meeting
its one local commitment timeously.
We cannot recommend a maximum credit figure.
It would be suggested dealings be fully secured.
Company Information
|
Registered
Name |
PERSIAN DREAM TRADING CC |
|
Trading
as/ Division Name |
None |
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Previous Name |
None |
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Date of Name
Change |
N/A |
|
Registration
Number |
B2005/049532/23 |
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Registration
Date |
2005-05-12 |
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Date Commenced
Trading |
2005 |
|
History of
Business |
The subject started as a new business in 2005. |
|
Members of
subject and % holding |
100% S AGHAEL |
|
Members
Contribution |
R100 |
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Age of Company |
6 years 6 months |
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Status |
In Business |
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Operations
Assessment |
Import and sales of Persian and Oriental
rugs. |
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Industry/
Customers |
Retailers and public |
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Export |
Namibia and exhibitions in other
neighbouring countries |
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Major Industry
Code / SICC |
61310 Wholesale Retail |
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Definition of
Code |
Wholesale trade in textiles clothing and
footwear. |
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Head Office
Physical Address |
151 Blairgowrie Drive RANDBURG Gauteng |
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Head Office
Postal Address |
P O Box 645783 SANDTON 2146 |
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Current Tel
Number Cell number |
011 0267005 072 4624462 |
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Current Fax
Number |
None |
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Current Email
Address |
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Web Site Address |
None |
Auditors Information
|
Company
Registered Name |
COOVADIA ASSOCIATES CA |
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Trading Name |
None |
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Registration Number |
2007/182103/23 |
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Physical Address |
Ground Floor Protea Corner CnrProtea and Garrick Ave LENASIA Ext1 Gauteng |
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Postal Address |
P O Box 10608 LENASIA 1827 |
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Contact Person |
AARON |
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Contact Number |
011 8544150 |
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Principals |
Sole prop- D COOVADIA |
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Judgements
Against Subject |
None |
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Judgements
Against Principals |
None |
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Subject Verified
as Client |
Yes |
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SAICA number |
127682T |
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Tax Number |
9081763162 |
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BEE Status |
|
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Financial Year
End |
February |
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Years With
Auditors |
4 years |
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Website |
None |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
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BOBAT AND ASSOCIATES |
Unknown |
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MRL INCORPORATED |
Unknown |
Tax Information
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Vat Number |
4540220599 |
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Status |
Active |
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Vat Liable Date |
Monthly |
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Tax Number |
9418674157 |
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Tax Clearance
Expire Date |
February |
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Financial Year
End |
February |
Black Economic
Empowerment
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Status |
None |
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Score |
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Expire Date |
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BEE Certificate
Available |
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ISO Status
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Type of ISO
Grade |
None |
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ISO Certificate |
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ISO Certificate
Available |
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Certified by an Accredited
Agent |
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Workman’s
compensation
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Registered |
No |
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Compliance
Certified |
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Company Structure
|
Branches |
2 |
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Branches Names |
Country |
Province |
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PRETORIA |
South Africa |
Gauteng |
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CAPE TOWN (New branch) |
South Africa |
Western Cape |
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Subsidiary
Company |
None |
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Shareholding |
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Registration
Number |
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Import / Export |
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Number of
Employees |
5 |
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1.
Salaried
employees |
5 |
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2.
Waged
employees |
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3.
Permanent
employees |
5 |
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4.
Casual
employees |
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5.
Contracted
employees |
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Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding
Balance |
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Fleet Operations |
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The Fleet is
made up of |
1 |
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1.
Cars |
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2.
Light
Delivery Vehicles |
1 |
Owned |
R130 000 |
None |
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3.
Trailers |
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4.
Busses |
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5.
Trucks |
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6.
Fork
Lifts |
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7.
Other |
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Head
OfficeOwned/ Rented |
Owned |
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Rental Company |
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Owned by |
MR S AGHAEI |
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Value |
R1 000 000 |
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Bond |
R200 000 |
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Bank |
ABSA |
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Lease Agreement |
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Lease Expire
Date |
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Type of Premises |
Office and home premises |
Branches Owned/
Rented |
Leased, both in shopping centres |
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Type of Premises |
Retail shop premises |
Trade References
|
Supplier |
Contact |
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PAHAD SHIPPING |
011 728
3115/ 6898 |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
2005 |
None |
R150 000 |
30 days |
R25 000- R150 000 |
30 days |
Very Good |
Adverse
Information on Subject
|
Judgements |
None |
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Possible
Judgements |
None |
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Civil Court |
None |
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RDs |
None |
Default Data
|
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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Deeds Information
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Property Interest |
|||
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Title Deed No. |
None |
Erf/Site No. |
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Deeds Office |
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Physical Address |
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Property Type |
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Extent / Size |
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Purchase Date |
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Purchase price |
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% Ownership |
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Bond Holder |
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Bond Number |
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Bond Amount |
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Bank Information
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Bank |
ABSA |
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Branch |
Rosebank |
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Bank Account
Number |
Not forthcoming |
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Type of Account |
Not forthcoming |
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Branch Code |
Not forthcoming |
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Account Name |
PERSIAN DREAM TRADING CC |
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Bank Code |
Not forthcoming |
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Bank Comment |
Not forthcoming |
Bank CodesHistory
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
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None |
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Previous Bank
Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
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None |
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Financial Information
Financial
Estimates
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CURRENT ASSETS |
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Stock |
R3 000 000 |
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Debtors |
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Cash on Hand |
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FIXED ASSETS |
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Plant,
Equipment, Vehicles |
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Property |
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CURRENT
LIABILITIES |
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Creditors |
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Loans/ From? |
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LONG TERM
LIABILITIES |
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Morgage Bonds |
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ANNUAL Turnover |
R2 500 000- R3 000 000 |
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Previous Year
Turnover |
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Estimated
Current Year Turnover |
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Principals
|
Number of
Principals |
1 |
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Average Age of
Active Principals |
34 |
Active Principals
Principal 1 of 1
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Surname |
AGHAEI |
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First Names |
SALMAN |
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ID Number |
770827 |
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Verified ID
Number |
No |
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Current Age |
34 |
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Designation |
Member |
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Status |
Active |
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Appointment Date |
2005-05-12 |
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Address (at time
of Appointment) |
33 Andhurst Gate Riepen Road CRAIGHALL 2157 |
Adverse
Information on Principal
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information on
Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
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None |
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Previous Business
Interests
|
Average Age of
Previous Business Interests |
None |
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
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Deeds Information
Property Interests of
Principle
|
Property Interest |
|||
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Title Deed No. |
None |
Erf/Site No. |
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Deeds Office |
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Physical Address |
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Property Type |
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Extent / Size |
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Purchase Date |
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Purchase price |
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% Ownership |
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Bond Holder |
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Bond Number |
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Bond Amount |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.25 |
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UK Pound |
1 |
Rs.78.73 |
|
Euro |
1 |
Rs.67.64 |
RATING EXPLANATIONS
|
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 |
|
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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.