MIRA INFORM
REPORT
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Report Date : |
30.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
AKSTEX AFRICA CC |
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Registered Office : |
48 Lilian Road Fordsburg Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
10.02.2002 |
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Com. Reg. No.: |
2002/083503/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
Wholesale and retile of textiles, fabrics |
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No. of Employees : |
25 |
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 : |
Unknown |
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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 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 business
A bank code C was obtained for
R2 000 000 over 30 days.
The subject imports most of its products and therefore
is not a general credit seeker locally.
Your figure is considered as too high.
Company Information
|
Registered
Name |
AKSTEX AFRICA CC |
|
Trading
as/ Division Name |
GANIS CASH AND CARRY |
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Previous Name |
None |
|
Date of Name
Change |
None |
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Registration
Number |
2002/083503/23 |
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Registration
Date |
2002/10/02 |
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Date Commenced
Trading |
2002 |
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History of
Business |
The subject commenced as a new business in 2002 |
|
Members of
subject and % holding |
100% A GANI |
|
Members
contribution |
R100 |
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Age of Company |
9 years 1 month |
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Status |
In Business |
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Operations
Assessment |
Wholesale and retile of textiles, fabrics |
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Industry/
Customers |
Designers, manufacturer, public |
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Export |
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 |
48 Lilian Road FORDSBURG Gauteng |
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Head Office
Postal Address |
P O Box 42755 |
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Current Tel
Number Cell number |
011 4921689 |
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Current Fax
Number |
011 4921707 |
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Current Email
Address |
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|
Web Site Address |
None |
Auditors Information
Attempts to obtain
full auditor information proved unsuccessful however it was confirmed
telephonically by a partner that the subject is a client.
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Company
Registered Name |
AHMED BISMILA INCORPORATED |
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Trading Name |
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Registration
Number |
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Physical Address |
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Postal Address |
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Contact Person |
AHMED BISMILLA |
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Contact Number |
011 3265147/ 083 4507816 |
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Email |
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Principals |
1 AHMED BISMILLA |
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Judgements
Against Subject |
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Judgements
Against Principals |
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Subject Verified
as Client |
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SAICA number |
944459 |
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VAT Number |
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Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
None |
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Tax Information
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Vat Number |
4380204760 |
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Status |
Active |
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Vat Liable Date |
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Tax Number |
9756353141 |
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Tax Clearance
Expire Date |
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Financial Year
End |
February |
Black Economic Empowerment
|
Status |
|
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Score |
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|
Expire Date |
|
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BEE Certificate
Available |
Yes/No |
ISO Status
|
Type of ISO
Grade |
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ISO Certificate |
Yes |
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ISO Certificate
Available |
Yes/No |
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Certified by
anAccredited Agent |
Yes/No |
Workman’s compensation
|
Registered |
Yes/No |
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Compliance
Certified |
Yes/No |
Company Structure
|
Branches |
None |
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Branches Names |
Country |
Province |
|
None |
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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 |
25 |
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1.
Salaried
employees |
25 |
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2.
Waged
employees |
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3.
Permanent
employees |
18 |
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4.
Casual
employees |
7 |
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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 |
3 |
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1.
Cars |
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2.
Light
Delivery Vehicles |
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3.
Trailers |
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4.
Busses |
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5.
Trucks |
3 |
Owned |
R900 000 |
R200 000 |
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6.
Fork
Lifts |
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7.
Other |
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Head
OfficeOwned/ Rented |
Rented from MR A GANI |
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Rental Company |
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Owned by |
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Value |
R15 000 000 |
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Bond |
None |
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Bank |
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Lease Agreement |
Month to month |
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Lease Expire
Date |
None |
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Type of Premises |
Office and 3 warehouses |
Trade References
|
Supplier |
Contact |
|
1)
TEXTRIM |
031 4623428 |
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2)
E AKHALWAYA AND SONS |
011 8331068 |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1)5 years |
None |
R100 000 |
30-60 days |
R20 000- R30 000 |
30-60 days |
Very Good |
|
2)3 years |
None |
R300 000 |
30 days |
Up to R300 000 |
30 days |
Good |
Adverse Information on Subject
|
Judgements |
None |
|
Possible
Judgements |
None |
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Civil Court |
None |
|
RDs |
None |
Default Data
|
Date |
Details |
|
None |
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Notarial Bonds
|
Date |
Details |
|
None |
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Deeds Information
|
Property Interest |
|||
|
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
|
Bank |
STANDARD BANK |
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Branch |
Fordsburg |
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Bank Account
Number |
002521873 |
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Type of Account |
Current |
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Branch Code |
005205 |
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Account Name |
AKSTEX AFRICA CC |
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Overdraft
Facilities |
Yes, not utilised |
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Bank Code |
C for R2 000 000 |
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Bank Comment |
The subjects bankers consider them as equal to their normal business
engagements |
Bank CodesHistory
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
|
None |
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Previous Bank Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
None |
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Financial Information
Financial Estimates
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CURRENT ASSETS |
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Stock |
R10 000 000 |
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Debtors |
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Cash on Hand |
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FIXED ASSETS |
R1 800 000 |
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Plant,
Equipment, Vehicles |
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Property |
R900 000 |
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CURRENT
LIABILITIES |
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Creditors |
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Loans/ From? |
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LONG TERM
LIABILITIES |
R200 000 |
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Morgage Bonds |
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ANNUAL Turnover |
R30 000 000 |
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Previous Year
Turnover |
R18- 20 000 000 |
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Estimated
Current Year Turnover |
R40- 50 000 000 |
Principals
|
Number of
Principals |
1 |
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Average Age of
Active Principals |
44 |
Active Principals
Principal 1 of 1
|
Surname |
GANI |
|
First Names |
ABDUL |
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Marital Status |
Married |
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ID Number |
6707105192086 |
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Verified ID
Number |
Yes |
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Current Age |
44 |
|
Designation |
Member |
|
Status |
Active |
|
Appointment Date |
Not on record |
|
Address (at time
of Appointment) |
39 Marica Road EMMARENTIA 2195 |
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 |
|
RAYLEC
INVESTMENT CC |
1987/005136/23 |
In Business |
0 |
No |
|
GOLDEN BAY
PROPERTIES 298 CC |
2005/147932/23 |
Deregistration
Process |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
10 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
FLYING TIGER
BALM S A CC |
1993/011817/23 |
Deregistration
Final |
0 |
No |
|
CHARLTON FABRICS
CC |
2003/000894/23 |
Deregistration
Final |
0 |
No |
|
NDWALEZI TRADING
26 CC |
2008/023169/23 |
Deregistration
Final |
0 |
No |
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
T 84410/2002 |
Erf/Site No. |
|
|
Deeds Office |
JOHANNESBURG |
Physical Address |
39 MARICO EMMARENTIA RANDBURG |
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Property Type |
Freehold/ Ervin |
Extent / Size |
1903.0SQM |
|
Purchase Date |
2002-07-21 |
Purchase price |
R750 000.00 |
|
% Ownership |
0.0000 |
Bond Holder |
ALBARAKA BANK LTD |
|
Bond Number |
B537202002 |
Bond Amount |
R429 151.00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.93 |
|
|
1 |
Rs.80.62 |
|
Euro |
1 |
Rs.69.36 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.