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Report Date : |
20.12.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
SPROAT INTERNATIONAL PTY LTD. |
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Registered Office : |
Unit A27 Sanlam Business Park,
Montague Gardens Milnerton Cape Town 7441 |
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Country : |
South Africa |
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Date of Incorporation : |
30.05.2005 |
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Com. Reg. No.: |
2005/018040/07 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
dealers in clothing
and textiles |
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No. of Employees : |
50 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
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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 |
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.
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Source : CIA |
Registered Name: SPROAT INTERNATIONAL PTY LTD.
Requested Name: S
I L (SPROAT INT. LTD. S.A.)
Other Names: None
Physical Address: Unit A27 Sanlam Business Park,
Montague Gardens Milnerton Cape
Town
7441
Postal Address: P. o. Box 331
Moorreesburg7310,
Country: South
Africa
Phone: 27-21-4474430
Fax: 27-21-5511032
Email: None
Website: None
Financial Index as of December 2011 shows subject firm with a medium
risk of credit. However, bank and credit information obtained reveal a history
of prompt payments.
Legal Form: Limited Corporation
Date Incorporated: 30-May-2005
Reg. Number: 2005/018040/07
Nominal Capital ZAR. 1,000
Subscribed Capital ZAR. 1,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Pietie Nelson MD
Mr. Alf
Hartzenburg Director
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as dealers in clothing and textiles
Imports: Asia,
Middle East
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: Stores,
outlets
Employees: 50
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: South
Africa
Location: Owned
premises, 5,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: South African Rand (ZAR.)
Approx. Ex. Rate: 1 US Dollar = 8.64 South African Rand
Fiscal Year End: December
31, 2011
Inflation: According to
information given by independent sources, the
inflation
at December 31st, 2011 was of 13%.
Financial
Information not Submitted
Profit and Loss (expressed in ZAR.)
2011
Sales 30,000,000
Bank Name: NEDBANK
Branch: South Africa
Comments: None
Experiences: Good
None
This
information was obtained from outside sources other than the subject company
itself and confirmed the above subject.
The
Registration number and Vat number you provided i.e. Reg. No. 2001/016106/23
Vat No.
4720217381; does not belong to the subject company but to TANIWHA CC.
Correct
details are as above.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.74 |
|
UK Pound |
1 |
Rs.89.02 |
|
Euro |
1 |
Rs.72.48 |
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 |
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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 |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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%)