|
Report Date : |
17.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
A AND I TRADING (PTY)LTD |
|
|
|
|
Registered Office : |
42 6th Avenue, Grassy Park, Cape Town,
Western Cape, 7941 |
|
|
|
|
Country : |
South Africa |
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|
|
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Date of Incorporation : |
27.03.2012 |
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|
|
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Com. Reg. No.: |
K2012/059299/07 |
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|
|
|
Legal Form : |
Private Company |
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Line of Business : |
Manufacturer of men's and boys' clothing |
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|
|
|
No. of Employees : |
03 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
---- |
NB |
New Business |
---- |
|
Status : |
New company |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
South Africa - ECONOMIC OVERVIEW
south Africa is a middle-income, emerging market
with an abundant supply of natural resources; well-developed financial, legal,
communications, energy, and transport sectors; a stock exchange that is the
18th largest in the world; and modern infrastructure supporting a relatively
efficient distribution of goods to major urban centers throughout the region.
Growth was robust from 2004 to 2007 as South Africa reaped the benefits of
macroeconomic stability and a global commodities boom but began to slow in the
second half of 2007 due to an electricity crisis and the subsequent global
financial crisis' impact on commodity prices and demand. GDP fell nearly 2% in
2009 but recovered in 2010-11. Unemployment remains high and outdated
infrastructure has constrained growth. State power supplier Eskom encountered
problems with aging plants and meeting electricity demand necessitating
"load-shedding" cuts in 2007 and 2008 to residents and businesses in
the major cities. Daunting economic problems remain from the apartheid era -
especially poverty, lack of economic empowerment among the disadvantaged
groups, and a shortage of public transportation. South Africa''s economic
policy is fiscally conservative focusing on controlling inflation and attaining
a budget surplus. The current government largely follows these prudent policies
but must contend with the impact of the global crisis and is facing growing
pressure from special interest groups to use state-owned enterprises to deliver
basic services to low-income areas and to increase job growth.
|
Source : CIA |
Subject Name |
A AND I TRADING (PTY) LTD |
|
Country |
South Africa |
|
Subject Contact Person |
AFRAH ABRAHAMS - Director |
|
Assessment |
This is a brand new business. On investigation we made contact with the director MR. AFRAH ABRAHAMS who assisted with most of the information, however MR. ABRAHAMS declined to assist with the vat information. The Auditor of the subject declined to assist with any of their information as they believe the report is for the subject and not the auditor. Regarding the financials and trade references, the financials could not be divulged due to the company being to young. The subject does not have any local suppliers therefore we could not obtain trade references. We obtained a bank code C for R 50 000 over a period of 30 days. Please see the available information for the subject below. |
|
Registered Name |
A AND I TRADING (PTY)LTD |
|
Trading as/ Division Name |
A AND I TRADING |
|
Registration Number |
K2012/059299/07 |
|
Registration Date |
2012/03/27 |
|
Date Commenced Trading |
2012-03-27 |
|
Age of Business |
9 Months |
|
History of Business |
The subject started out as a new business in 2012 |
|
History of Principals |
There are currently 2 active directors within the subject. |
|
Shareholders/Members/Partners of subject and % holding |
50 % - AFRAH ABRAHAMS, 50 % - IGSHAAN CORNELIUS |
|
Authorised Share Capital |
R0.00 |
|
Issued Share Capital/Members Contribution |
R0.00 |
|
Status |
In Business |
|
Operations Assessment |
Import and manufacture of Clothing |
|
Industry/ Customers |
Wholesalers and the public |
|
Export |
None |
|
Import |
Yes |
|
Major Industry Code / SICC |
31401 |
|
Definition of Code |
Manufacture of men's and boys' clothing |
|
Head Office Physical Address |
42 6TH AVENUE, GRASSY PARK, CAPE TOWN,
WESTERN CAPE, 7941 |
|
Head Office Postal Address |
42 6TH AVENUE, GRASSY PARK, CAPE TOWN,
WESTERN CAPE, 7941 |
|
Current Tel Number |
0217062825 |
|
Current Email Address |
|
|
Web Site Address |
|
Company Registered Name |
-- |
|
Trading Name |
-- |
|
Registration Number |
-- |
|
Physical Address |
-- |
|
Postal Address |
-- |
|
Contact Person |
LEN |
|
Contact Number |
0829757866 |
Previous Auditors Information - No Information on Record
|
Financial Year End |
February |
Black Economic
Empowerment Information - No Information on Record
ISO Information -
No Information on Record
|
Registered |
No |
|
Compliance Certified |
No |
Subsidiaries Information - No Information on Record
|
Employees |
|
|
Number of Employees |
3 |
|
1. Salaried employees |
3 |
|
2. Waged employees |
--- |
|
3. Permanent employees |
3 |
Company Fleet Information - No Information on Record
|
Offices |
Offices |
|
Head Office Owned/ Rented |
Owned |
|
Owned by |
A AND I TRADING(PTY)LTD |
|
Type of Premises |
Offices |
Branch Information - No Information on Record
Organisational Chart - No Information on Record
Company Structure (Ownership)
Note: One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
50% |
IGSHAAN CORNELIUS |
|
|
|
50% |
AFRAH ABRAHAMS |
|
|
Key Deals - No Information on Record
|
Trade Reference
nr |
Supplier |
Contact |
Surety
Value |
Notarial Bonds |
Comment |
|
1 |
|
|
|
|
The subject does not have any local suppliers |
Trade References
Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average |
Terms Taken |
Comment |
|
|
|
|
|
|
Purchases |
|
|
Judgements - No information on record
Business Rescue - No Information on Record
Default Listing - No information on record
Notarial Bonds - No information on record
|
Bank |
STANDARD BANK |
|
Branch |
KENILWORTH |
|
Bank Account Number |
081458371 |
|
Type of Account |
Current |
|
Account Name |
A AND I TRADING |
|
Overdraft Facilities |
No |
|
Bank Code |
C FOR R 50000 |
|
Bank Comment |
The subject's bankers consider them good for all business normal
engagements |
Bank Code History - No Information on Record
Previous Bank Account Information - No Information on Record
Deeds Information - No information on record
|
Number of Principals |
2 |
|
Average Age of Active Principals |
34 |
Active Principals
Principal - 1of 2 AFRAH ABRAHAMS
|
Surname |
ABRAHAMS |
|
First Name |
AFRAH |
|
Other Names |
None |
|
Marital Status |
Married |
|
ID Number |
7603310146083 |
|
Verified ID Number |
Yes |
|
Current Age |
36 |
|
Designation |
BUSINESSWOMAN |
|
Status |
Active |
|
Appointment Date |
2012/03/27 |
|
Physical Address (at time of Appointment) |
42 6TH AVENUE, GRASSY PARK, CAPE TOWN, WESTERN CAPE, 7941 |
|
Postal Address |
42 6TH AVENUE, GRASSY PARK, CAPE TOWN, WESTERN CAPE, 7941 |
|
Current Tel Number |
0217062825 |
|
Cell number |
0828103219 |
|
Shareholding/Membership |
50% |
Principal's Adverse - No information on record
Business Information
for AFRAH ABRAHAMS
Principal Current
Business Interests
|
Company Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
A AND 1 TRADING (PTY) LTD |
K2012/059299/07 |
In Business |
0 |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 4 Years
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
EVOLUTION PROJECT MANAGEMENT CC |
B2008/211894/23 |
Deregistration Final |
4 Years 4 Months |
0 |
No |
|
Principal's Deeds
Information - No information on record
Principal - 2of 2
IGSHAAN CORNELUIS
|
Surname |
CORNELUIS |
|
First Name |
IGSHAAN |
|
Other Names |
None |
|
Marital Status |
Married |
|
ID Number |
7904045255086 |
|
Verified ID Number |
Yes |
|
Current Age |
33 |
|
Designation |
BUSINESSMAN |
|
Status |
Active |
|
Appointment Date |
2012/03/27 |
|
Physical Address (at time of Appointment) |
42 6TH AVENUE, GRASSY PARK, CAPE TOWN, WESTERN CAPE, 7941 |
|
Postal Address |
42 6TH AVENUE, GRASSY PARK, CAPE TOWN, WESTERN CAPE, 7941 |
|
Current Tel Number |
0217050880 |
|
Cell number |
0827241805 |
|
Shareholding/Membership |
50% |
Principal's Adverse -
No information on record
Business Information
for lGSHAAN CORNELUIS
Principal Current
Business Interests
|
Company Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
A AND 1 TRADING (PTY) LTD |
K2012/059299/07 |
In Business |
0 |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 4 Years
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
EVOLUTION PROJECT MANAGEMENT CC |
B2008/211894/23 |
Deregistration Final |
4 Years 4 Months |
0 |
No |
|
Principal's Deeds
Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.87.78 |
|
Euro |
1 |
Rs.71.29 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.