MIRA INFORM REPORT
|
Report Date : |
10.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
INDI CLOTHING CC |
|
|
|
|
Registered Office : |
Caledon Square 3rd Floor, 163/165 Albert Street Cnr Louise Lane, Durban 4000 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
24.08.2009 |
|
|
|
|
Com. Reg. No.: |
2009/165200/23 |
|
|
|
|
Legal Form : |
Closed Corporation |
|
|
|
|
Line of Business : |
Importing and sale of
men’s clothing to smaller chain stores |
RATING & COMMENTS
|
MIRA’s Rating : |
Nb |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
---- |
NB |
New Business |
---- |
|
Status : |
New Company |
|
|
|
|
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 – March 31st, 2011
|
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 |
Assessment:
This is a brand new business formed from operations of an associate business
The subject is only expecting its first transaction to take place soon.
In view of the infancy of the concern we cannot recommend dealings.
Due to the infancy of the subject the bank has not been able to give a code.
Company Information
|
Registered
Name |
INDI CLOTHING CC |
|
Trading
as/ Division Name |
None |
|
Previous Name |
None |
|
Date of Name
Change |
N/A |
|
Registration
Number |
2009/165200/23 |
|
Registration
Date |
2009-08-24 |
|
Date Commenced
Trading |
2009, however the first shipment is only expected now. |
|
History of
Business |
The subject was formed from
some operations that were formerly in an associate company. |
|
History of
Principals |
MR S J WADHWANI is actively
involved in another business |
|
Membersof
subject and % holding |
100% S J WADHWANI |
|
Members
Contribution |
R100 |
|
Age of Company |
2 years 1 month |
|
Status |
InBusiness |
|
Operations
Assessment |
Importing and sale of men’s clothing to
smaller chain stores. |
|
Industry/
Customers |
Chain stores |
|
Export |
None |
|
Major Industry
Code / SICC |
61310 Wholesale Retail |
|
Definition of
Code |
Wholesale trade in textiles , clothing and
footwear. |
|
Head Office
Physical Address |
Caledon Square 3rd Floor 163/165 Albert Street cnr Louise Lane DURBAN 4000 |
|
Head Office
Postal Address |
P O Box 4400 DURBAN 4000 |
|
Current Tel
Number |
031 3096869 |
|
Current Fax
Number |
031 3096869 |
|
Current Email
Address |
amsixtrading@telkomsa.net |
|
Web Site Address |
None |
Auditors Information
|
Company
Registered Name |
ISMAIL TAYOB INCORPORATED |
|
Trading Name |
|
|
Registration
Number |
2001/017724/21 |
|
Physical Address |
280 Gray street 2nd Floor DURBAN |
|
Postal Address |
P O Box 3104 DURBAN 4001 |
|
Contact Person |
RANI |
|
Contact Number |
031 3095955 |
|
Email |
|
|
Principals |
MR I TAYOB |
|
Judgements
Against Subject |
None |
|
Judgements
Against Principals |
None |
|
Subject Verified
as Client |
Yes |
|
SAICA number |
954756 |
|
Tax Number |
9157320145 |
|
Financial Year
End |
February |
|
Years With
Auditors |
New |
|
Website |
None |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
None |
|
Tax Information
|
Vat Number |
4770257071 |
|
Status |
Active |
|
Vat Liable Date |
Bi-monthly |
|
Tax Number |
Unknown |
|
Tax Clearance
Expire Date |
Unknown |
|
Financial Year
End |
Frbruary |
Black Economic
Empowerment
|
Status |
None |
|
Score |
|
|
Expire Date |
|
|
BEE Certificate
Available |
Yes/No |
ISO Status
|
Type of ISO
Grade |
None |
|
ISO Certificate |
Yes/No |
|
ISO Certificate
Available |
Yes/No |
|
Certified by
anAccredited Agent |
Yes/No |
Workman’s
compensation
|
Registered |
Yes |
|
Compliance
Certified |
No |
Company Structure
|
Branches |
None |
|
Branches Names |
Country |
Province |
|
None |
|
|
|
Subsidiary
Company |
None |
|
Shareholding |
|
|
Registration
Number |
|
|
Import / Export |
|
|
Number of
Employees |
None, if needed
the subject uses group employees |
|
1.
Salaried
employees |
|
|
2.
Waged
employees |
|
|
3.
Permanent
employees |
|
|
4.
Casual
employees |
|
|
5.
Contracted
employees |
|
Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding
Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is
made up of |
None |
|
|
|
|
1.
Cars |
|
|
|
|
|
2.
Light
Delivery Vehicles |
|
|
|
|
|
3.
Trailers |
|
|
|
|
|
4.
Busses |
|
|
|
|
|
5.
Trucks |
|
|
|
|
|
6.
Fork
Lifts |
|
|
|
|
|
7.
Other |
|
|
|
|
Head
OfficeOwned/ Rented |
Rented |
|
Rental Company |
PANASTAR INVESTMENTS CC |
|
Lease Agreement |
2 years |
|
Lease Expire
Date |
2012 |
|
Type of Premises |
Office and warehouse |
The subject is very new and has just ordered its first order from overseas
and will be using clearing agents below.
Trade References
|
Supplier |
Contact |
|
I Q LOGISTICS |
031 3322758 |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
Too |
New |
To |
Comment |
|
|
|
Adverse
Information on Subject
|
Judgements |
None |
|
Possible
Judgements |
None |
|
Civil Court |
None |
|
RDs |
None |
Default Data
|
Date |
Details |
|
None |
|
Notarial Bonds
|
Date |
Details |
|
None |
|
Deeds Information
|
Property Interest |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property Type: |
None |
Stand Number: |
|
|
Street Number: |
|
Street Name: |
|
|
Municipal Suburb: |
|
Municipal City: |
|
|
Township Name: |
|
Province: |
|
|
Deeds Office: |
|
Transfer ID: |
|
|
Title Deed Number: |
|
Purchase Date: |
|
|
Transfer Date: |
|
Erf Size: |
|
|
Sold Price: |
|
|
|
Bank Information
|
Bank |
ABSA |
|
Branch |
KINGSMEAD |
|
Bank Account
Number |
4075634896 |
|
Type of Account |
Current |
|
Account Name |
INDI CLOTHING CC |
|
Overdraft
Facilities |
None |
|
Bank Code |
F |
|
Bank Comment |
Bank CodesHistory
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
|
None |
|
|
|
|
|
|
Previous Bank
Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
None |
|
|
|
|
|
Financial Information
Financial Estimates
Too new to comment, the first order is only expected now..
Principals
|
Number of
Principals |
1 |
|
Average Age of
Active Principals |
47 |
Active Principals
Principal 1 of 1
|
Surname |
WADHWANI |
|
First Names |
SUNIL JETUMAL |
|
Marital Status |
Married |
|
Birth Date |
640313 |
|
Verified ID
Number |
No |
|
Current Age |
47 |
|
Designation |
Member |
|
Status |
Active |
|
Appointment Date |
Not on Record |
|
Address (at time
of Appointment) |
Flat 401 Noorchamber Grey Street DURBAN 4000 |
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 |
|
AMSIX TRADING CC |
2001/066619/23 |
In
Business |
0 |
No |
|
SUNBEAT
INVETSMENTS CC |
2010/032422/23 |
In
Business |
0 |
No |
|
BROADSTRIPE
INVESTMENTS CC |
2010/033443/23 |
In
Business |
0 |
No |
|
RANGER CLOTHING
CC |
2010/088690/23 |
In
Business |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
6 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
ROCKSPACE
INVESTMENTS CC |
2005/027782/23 |
In
Business |
0 |
No |
Deeds Information
Property Interests of
Principle
|
Property Interest |
|||
|
Title Deed No. |
None |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.14 |
|
UK Pound |
1 |
Rs.75.97 |
|
Euro |
1 |
Rs.65.99 |
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.