MIRA INFORM REPORT
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Report Date : |
17.01.2012 |
IDENTIFICATION DETAILS
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Name : |
MATLA SYLVESTER WHOLESALERS CC |
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Registered Office : |
428 Vom Hagen Street, Pretoria West, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
09.02.2006 |
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Com. Reg. No.: |
2006/021027/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
The importing and distribution of all types of sweets, candies and food
items such as hard and soft candy, lollipops, biscuits etc |
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No. of Employees
: |
4 |
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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Maximum Credit Limit : |
$1 500 000 |
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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 30th, 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 |
Company DETAILS
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Subject Name |
MATLA SYLVESTER WHOLESALERS CC |
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Country |
South Africa |
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Requested Credit Limit |
$1 500 000 |
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Enquiry Terms |
D/A |
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Account Review |
Every Six Months |
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Subject Contact person |
Abdul Arshud - member |
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Assessment |
Total Credit Limit Exposure: Total Suretyship: This is an established business, meeting local commitments on a C.O.D. basis. Your figure is considered as too high. A bank code C was obtained for an amount of R600 000 |
Company Information
|
Registered Name |
MATLA SYLVESTER WHOLESALERS CC |
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Registration Number |
2006/021027/23 |
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Registration Date |
2006-02-09 |
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Date Commenced Trading |
The subject was established in 2000. |
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Age of Close Corporation |
5 Years 11 Months |
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History of Business |
The subject was registered to incorporate a sole proprietorship, which
was commenced by A ARSHUD in 2000. |
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Membership and % holding |
100% ABDUL ARSHUD |
|
Members contribution |
R100 |
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Status |
Deregistration Final The member stated that it was unknown to
him that the subject was deregistered.
He confirmed that the subject is fully operational. He did however state that he had problems
with his previous bookkeepers and that he is in the process of appointing a
new bookkeeper. |
|
Operations Assessment |
The importing and distribution of all
types of sweets, candies and food items such as hard and soft candy,
lollipops, biscuits etc. |
|
Industry/ Customers |
Wholesalers, independent retailers, spaza
shops and hawkers. |
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Area of Distribution |
Mainly Johannesburg, Pretoria and
surrounding areas. |
|
Export |
Indirectly to neighbouring countries such
as Lesotho, Botswana |
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Major Industry Code / SICC |
61221 WHOLESALE
RETAIL |
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Definition of Code |
Wholesale trade in foodstuffs |
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Head Office Physical Address |
428 Vom Hagen Street PRETORIA WEST Gauteng |
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Head Office Postal Address |
PO Box 19593 PRETORIA WEST 0117 |
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Current Tel Number |
012 374 0841 |
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Cell number |
084 978 6130 – Abdul |
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Current Fax Number |
086 539 3516 |
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Current Email Address |
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Web Site Address |
None |
Auditors
Information
|
Company Registered Name |
The respondent stated that they are in the process of changing their
auditors. No further details were
given as the respondent has not yet decided who the new auditors will be. |
Previous Auditors
|
Company Name |
Phone Number |
Time with previous auditors |
|
SANZA
ADMINISTRATOR |
Unknown |
Unknown |
Tax Information
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Vat Number |
4640230308 |
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Status |
Active |
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Vat Liable Date |
2006-09-01 |
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Tax Number |
9427341160 |
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Financial Year End |
February |
Black Economic Empowerment
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Status |
None |
ISO Status
|
ISO Certificate |
None |
Workman’s compensation
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Registered |
Yes |
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Compliance Certified |
No |
Company Structure
Subsidiaries
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Subsidiary Company |
None |
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Number of
Employees |
4 total |
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1. Salaried
employees |
2 |
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2. Waged
employees |
2 |
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 |
None |
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Offices |
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Head Office Owned/ Rented |
The premises are leased from a 3rd party. |
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Rental Company |
CHARLIES MOTOR TRIMMER |
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Lease Agreement |
5 year agreement |
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Lease Expire Date |
2014 |
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Type of Premises |
The premises comprise of an administration office and a warehousing
facility. |
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Branches |
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None |
Trade
References
The subject imports most of its supplies from India, China, Indonesia,
Brazil, Pakistan and Malaysia.
The subject pays all of its local suppliers on a cash basis.
|
Trade Reference nr |
Supplier |
Contact |
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1 |
M & F
SHIPPING |
011 830
0123 |
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2 |
LTG |
012 564 3420 |
Trade References
Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
13 yrs |
Open |
R150 000 |
C.O.D. |
R150 000 |
C.O.D. |
Very good |
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2 |
8 yrs |
Open |
R600 000 |
C.O.D. |
R500 000 |
C.O.D. |
Very good |
Adverse
Information on Subject
Judgements
|
Judgements |
None |
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Possible
Judgements |
None |
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Civil Court |
None |
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RDs |
None |
Business Rescue
|
Date registered |
Business rescue practitioner |
Contact Information |
Details |
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None |
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Default Listings
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Date |
Details |
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None |
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Notarial Bonds
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Date |
Details |
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None |
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Bank
Information
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Bank |
H B Z BANK |
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Branch |
Laudium |
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Bank Account Number |
41066474 |
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Type of Account |
Current |
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Account Name |
MATLA SYLVESTER WHOLESALERS CC |
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Overdraft Facilities |
The subject does not require an overdraft facility as credit balances
are normally maintained at the latter bank. |
|
Bank Code |
C for R600 000 |
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Bank Comment |
The subjects bankers consider them as equal to their normal business
engagements. |
The subject also banks with
|
Bank |
NEDBANK |
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Branch |
Pretoria North |
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Bank Account Number |
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Type of Account |
Current |
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Account Name |
MATLA SYLVESTER WHOLESALERS CC |
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Overdraft Facilities |
The subject does not require an overdraft facility as credit balances
are normally maintained at the latter bank. |
Bank Codes History
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
Years with bank |
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None |
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Previous Bank
Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
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None |
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Deeds
Information
Property Interests for Company
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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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Financial Information
Financial
Estimates
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CURRENT ASSETS |
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Stock |
R500 000 – R1 000 000 |
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Debtors |
Mainly on a C.O.D. basis |
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FIXED ASSETS |
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Plant, Equipment, Vehicles |
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Property |
Nil |
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CURRENT LIABILITIES |
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Creditors |
Mainly on a C.O.D. basis |
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Loans |
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LONG TERM LIABILITIES |
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Morgage Bonds |
Nil |
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Previous Year Turnover |
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Estimated Year Turnover |
R5 000 000 – R10 000 000 |
Please note the
following:
|
Turnover and assets less than R 1,000,000.00 |
The subject falls within the National Credit Act |
|
Turnover and assets less than R 2,000,000.00 |
The subject falls within the Consumer Protection Act |
Principals
|
Number of Principals |
1 |
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Average Age of Active Principals |
37 |
Active Principals
Principal 1 of 1:
ARSHUD ABDUL
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Surname |
ABDUL |
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First Name |
ARSHUD |
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Other Names |
None |
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Marital Status |
Unknown |
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ID Number |
7503265150082 |
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Verified ID Number |
Yes |
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Current Age |
37 |
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Designation |
member |
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Status |
Active |
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Appointment Date |
2006-02-09 |
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Physical Address (at time of Appointment) |
428 Van Hagen Street PRETORIA WEST 0183 |
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Postal Address |
PO Box 19593 PRETORIA WEST 0117 |
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Current Tel Number |
012 3740481 |
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Cell number |
084 9786130 |
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Current Fax Number |
Unknown |
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Current Email Address |
Unknown |
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Shareholding |
100% |
Adverse Information for: ARSHUD ABDUL
Judgement
|
Number of
Judgements |
None |
Debt
Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information for: ARSHUD ABDUL
Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
RED VALVET
TRADING (PTY) LTD |
K2011/118661/23 |
Deregistration
Final |
4 Months |
0 |
No |
Previous
Business Interests
|
Average Age of
Previous Business Interests |
5 Years |
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
SENTLE
AUCTIONEERS CC |
2006/169778/23 |
Deregistration
Final |
5 Years 4 Months |
0 |
No |
|
ZOMSA’S FREIGHT
FORWARDERS AND INDENT AGENTS CC |
2006/170122/23 |
Deregistration
Final |
5 Years 4 Months |
0 |
No |
Deeds Information
Property
Interests for: ARSHUD ABDUL
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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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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.65 |
|
UK Pound |
1 |
Rs.79.09 |
|
Euro |
1 |
Rs.65.32 |
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 |
|
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 |
|
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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.