MIRA INFORM REPORT

 

 

Report Date :

22.08.2012

 

IDENTIFICATION DETAILS

 

Name :

ACADEMIC APPAREL INDUSTRIES CC

 

 

Registered Office :

54 Park Street, Durban 4001

 

 

Country :

South Africa

 

 

Date of Incorporation :

29.01.1993

 

 

Com. Reg. No.:

B1993/001988/23

 

 

Legal Form :

Closed Corporation

 

 

Line of Business :

Manufacturers and Suppliers of academic, clerical and legal attire

 

 

No. of Employees :

Not Available 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

South Africa

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Subject Name

ACADEMIC APPAREL INDUSTRIES CC

Country

South Africa

Subject Contact Person

TANYA WEBBSTOCK

Assessment

On investigation we made contact with TANYA WEBBSTOCK who declined to assist with any information on the subject.

 

TANYA requested the name of the principal enquirer and the reason for the enquiry before she can assist with the information.

 

Please see the available information for the subject below.

 

 

Company information

 

Registered Name

ACADEMIC APPAREL INDUSTRIES CC

Trading as/ Division Name

AAI

Registration Number

B1993/001988/23

Registration Date

1993/01/29

Date Commenced Trading

1993-01-29

Age of Business

19 Years 7 Months

History of Business

The subject was established in 1990, in Durban, by LOGAN THAVARAJOO as a supplier of academic, legal and clerical wear.

History of Principals

Logan Thavarajoo-MD and founder Mr Thavarajoo joined Flamingo Knitting Mills in1965 after matric where he worked up the ranks and became the Production Planner. Mr Thavarajoo has well over 40 years of experience in the corporate textile industry. Tanya Webbstock-General ManagerMS. WEBBSTOCK has over 15 years of experience in the industryTashia Naidoo-Factory Manager MS. Naidoo is Mr. Thavarajoo's daughter. She has over 17 years of experience in the industry

Authorised Share Capital

R0.00

Issued Share Capital/Members Contribution

R0.00

Status

In Business

Operations Assessment

Manufacturers and suppliers of academic, clerical and legal attire

Industry/ Customers

General public and Universities

Export

Import

Major Industry Code / SICC

31110

Definition of Code

Spinning, weaving and finishing of yarns and fabrics, other

Head Office Physical Address

54 Park Street, DURBAN, 4001

Head Office Postal Address

PO BOX 237, NAGINA, 3604

Current Tel Number

0313060628

Current Fax Number

0313060629

Current Email Address

info.dbn@academicapparel.co.za  tanya@academicapparel.co.za

Web Site Address

www.academicapparel.co.za

 

 

Auditor information

 

Company Registered Name

R MAMRAJ CIS

Postal Address

PO BOX 40972, RED HILL, 4071

No of years in Business

18

Previous Auditors Information - No Information on Record

 

 

Tax information

 

Vat Number

4220237467

Status

ACTIVE

Vat Liable Date

2007/06/01

Tax Number

9001074203

Financial Year End

February

Black Economic Empowerment

Status

Yes

Score

4.00

BEE Certificate Available

No

 

ISO Information - No Information on Record

Workman's compensation

Registered

Yes

Compliance Certified

Yes

 

 

Company Structure

 

Subsidiaries Information - No Information on Record

 

Employees Information - No Information on Record

 

Company Fleet Information - No Information on Record

 

Offices Information - No Information on Record

 

Branch Information - No Information on Record

 

 

Management Overview

 

Organisation Chart

Level

Position

Name

Comment

1

Managing Member

LOGAN THAVARAJOO

 

2

Member

SHIRLEY THAVARAJOO

 

Company Structure (Ownership)

Note: One level up and all levels down

 

Holding

Company

Sub

Comment

75 % - LOGAN THAVARAJOO

ACADEMIC APPAREL INDUSTRIES CC

 

 

25 % - SHIRLEY THAVARAJOO

ACADEMIC APPAREL INDUSTRIES

 

 

 

Key Deals - No Information on Record

 

Trade References Information - No Information on Record

 

Adverse Information on Subject

Judgements - No information on record

 

Business Rescue - No Information on Record

 

Default Listing - No information on record

 

Notarial Bonds - No information on record

 

Bank Information - No Information on Record

 

Bank Code History - No Information on Record

 

Previous Bank Account Information - No Information on Record

 

Deeds Information

 

Property Interests for Company

 

ACADEMIC APPAREL INDUSTRIES CC

 

Title Deed No.

T95951/2007

Erf/Site No.

 

Deeds Office

CAPE TOWN

Physical Address

219 BELLEVUE KEMPENVILLE BELLVILLE

Property Type

Freehold

Extent / Size

625.0SQM

Purchase Date

2007/09/05

Purchase price

 

% Ownership

0.00

Bond Holder

 

 

Principals

Number of Principals

2

Average Age of Active Principals

64

 

Active Principals Principal - 1of 2 SHIRLEY THAVARAJOO

Surname

THAVARAJOO

First Name

SHIRLEY

ID Number

4807080116050

Verified ID Number

Yes

Current Age

64

Designation

Invalid Code

Status

Active

Physical Address (at time of Appointment)

9 TRISHAN AVENUE, WASHINGTON HEIGHTS, MARIANHILL, 3610

Postal Address

PO BOX 237, NAGINA, MARIANHILL, 3604

Shareholding/Membership

25.0000

 

Principal's Adverse - No information on record

 

 

Business Information for SHIRLEY THAVARAJOO

 

Principal Current Business Interests

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

 

 

 

 

 

 

 

 

Principal Previous Business Interests

 

Average Age of Previous Business                                                                    19 years

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

ACADEMIC APPAREL INDUSTRIES CC

B1993/001988/23

In Business

19 Years 7 Months

0

No

 

 

 

Principal's Deeds Information - No information on record

 

 

Principal – 2 of 2 LOGANATHAN THAVARAJOO

Surname

THAVARAJOO

First Name

LOGANATHAN

ID Number

4710105134050

Verified ID Number

No

Current Age

65

Designation

Invalid Code

Status

Active

Physical Address (at time of Appointment)

9 TRISHAN AVENUE, WASHINGTON HEIGHTS, MARIANHILL, 3610

Postal Address

PO BOX 237, NAGINA, MARIANHILL, 3604

Current Tel Number

0219489127

Cell number

0834441072

Shareholding/Membership

75.0000

 

Principal's Adverse - No information on record

 

Business Information for  LOGANATHAN THAVARAJOO

 

Principal Current Business Interests

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

GRANITA ENTERPRISES

4710105134050

 

Unknown

0

No

 

 

Principal Previous Business Interests

 

Average Age of Previous Business                                                        19 years

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

ACADEMIC APPAREL INDUSTRIES CC

B1993/001988/23

In Business

19 Years 7 Months

0

No

 

 

Principal's Deeds Information - No information on record

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.54

UK Pound

1

Rs.87.39

Euro

1

Rs.68.72

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.