MIRA INFORM REPORT
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Report Date : |
20.01.2012 |
IDENTIFICATION DETAILS
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Name : |
BOTANICS AFRICA TRUST |
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Registered Office : |
22 Keswick Road, Morningside, Durban |
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Country : |
South Africa |
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Date of Incorporation : |
07.07.1998 |
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Com. Reg. No.: |
IT1436/98 |
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Legal Form : |
Trust |
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Line of Business : |
Importing and manufacturing
of décor items for chain stores |
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No. of Employees
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12 |
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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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Status : |
Moderate |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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South Africa |
a2 |
a2 |
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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 |
Company detail
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Subject Name |
BOTANICS AFRICA TRUST |
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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 6 MONTHS |
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Subject Contact person |
DAVID SWART |
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Assessment |
Total Credit Limit Exposure: R5 000 Total Suretyship: R5 000 On investigation contact was made with the
main trustee, DAVID SWART. The business is an established trust that
imports most of its supplies. Local suppliers are being paid within
terms. Your figure is considered as too high. |
Company Information
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Registered Name |
BOTANICS AFRICA TRUST |
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Trading as/ Division Name |
VANILLA TRADING COMPANY |
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Previous Name |
None |
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Date of Name Change |
N/A |
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Registration Number |
IT1436/98 |
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Registration Date |
07/07/1998 |
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Date Commenced Trading |
1998 |
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Age of Business |
14 years |
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History of Business |
N/A |
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History of Principals |
N/A |
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Trustees and % holding |
DAVID SWART- Main trustee, active in business RENE SWART COLIN MARK POOLE |
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Status |
In Business |
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Operations Assessment |
Importing and manufacturing of décor items
for chain stores. |
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Industry/ Customers |
Home stores |
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Export |
Zimbabwe |
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Major Industry Code / SICC |
61399 Wholesale Retail |
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Definition of Code |
Wholesale trade in household goods |
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Head Office Physical Address |
22 Keswick Road MORNINGSIDE Durban |
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Head Office Postal Address |
P O Box 568 HYPER BY THE SEA 4053 |
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Current Tel Number |
031 3033882 |
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Cell number |
083 7822299 |
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Current Fax Number |
086 5127797 |
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Current Email Address |
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Web Site Address |
None |
Auditors Information
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Company Registered Name |
HEATH WASSINK - Accountant |
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Trading Name |
WASSINK AND ASSOCIATES |
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Contact Person |
HEATH |
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Contact Number |
084 5227700- remains unanswered, busy |
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Subject Verified as Client |
No |
Previous Auditors
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Company Name |
Phone Number |
Time with previous auditors |
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None |
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Tax Information
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Vat Number |
4010209866 |
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Status |
Active |
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Vat Liable Date |
Monthly |
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Financial Year End |
February |
Black
Economic Empowerment
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Status |
None |
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Score |
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Expire Date |
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BEE Certificate Available |
Yes/No |
ISO
Status
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Type of ISO Grade |
None |
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ISO Certificate |
Yes/No |
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ISO Certificate Available |
Yes/No |
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Certified by an Accredited Agent |
Yes/No |
Workman’s
compensation
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Registered |
Yes |
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Compliance Certified |
Yes |
Company
Structure
Subsidiaries
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Subsidiary Company |
None |
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Shareholding |
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Registration Number |
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Import / Export |
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Number of
Employees |
12 |
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1. Salaried
employees |
12 |
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2. Waged
employees |
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3. Permanent
employees |
12 |
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4. Casual
employees |
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5. Contracted
employees |
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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 |
2 Total value
R450 000 |
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1. Cars |
1 |
Owned |
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Small amount to
Mercedes finanance |
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2. Light
Delivery Vehicles |
1 |
Owned |
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None |
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3. Trailers |
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4. Busses |
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5. Trucks |
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6. Fork
Lifts |
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7. Other |
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Offices |
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Head Office Owned/ Rented |
Rented |
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Rental Company |
RICHARD MOWER |
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Owned by |
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Value |
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Bond |
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Bank |
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Lease Agreement |
3 years |
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Lease Expire Date |
2014 |
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Type of Premises |
Office , warehouse and manufacturing |
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Branches Names |
Country |
Province |
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None |
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Branches Owned/ Rented |
None |
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Rental Company |
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Owned |
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Value |
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Bank |
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Bond |
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Lease Agreement |
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Lease Expire Date |
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Type of Premises |
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Management Overview
Organisation chart
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Level |
Position |
Name |
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1 |
Managing Trustee |
DAVID SWART |
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2 |
Manager |
MICHAEL GRAY |
Company Structure
(Ownership)
Note: One level up and
all levels down
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Holding |
Company |
Sub |
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D SWARTR R SWART C M POOLE |
BOTANICS AFRICA TRUST |
None |
Trade
References
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Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
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1 |
UNSGAARD AND
SAMSON |
021 5293808 |
R5 000 |
None |
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2 |
SHAFT PACKAGING |
031 3038014 |
N/A |
N/A |
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3 |
HONINGKLIP DRIED
FLOWERS |
028 2849745 |
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4 |
TRANSTECH |
031 7671414 |
None |
None |
Trade
References Detail
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Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
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1 |
1 year |
R5 000 |
R7 500 |
30 days |
R5 000 |
30 days |
Very Good |
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2 |
Do |
Not |
Give |
Trade |
References |
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3 |
No Answer |
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4 |
7 years |
None |
R100 000 |
30 days |
R0- R100 000 |
30 days |
Very Good |
Bank
Information
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Bank |
STANDARD BANK |
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Branch |
MUSGRAVE |
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Bank Account Number |
051218933 |
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Type of Account |
Current |
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Account Name |
BOTANICS AFRICA TRUST |
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Overdraft Facilities |
Yes, secured by the trustees, utilisation fluctuates |
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Bank Code |
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Bank Comment |
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Bank Codes History
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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
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Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
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None |
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Financial Information
Financial
Estimates
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CURRENT ASSETS |
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Stock |
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Debtors |
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FIXED ASSETS |
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Plant, Equipment, Vehicles |
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Property |
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CURRENT LIABILITIES |
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Creditors |
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Loans/ From? |
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LONG TERM LIABILITIES |
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Morgage Bonds |
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Previous Year Turnover |
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Estimated Current Year Turnover |
R6 000 000- R8 000 000 |
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Current Turnover per month |
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Current Turnover per annum |
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Please note the
following:
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Turnover and assets less than R 1,000,000.00 |
The subject falls within the National Credit Act |
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Turnover and assets less than R 2,000,000.00 |
The subject falls within the Consumer Protection Act |
Principals
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Number of Principals |
3 (2 are silent and not actively involved in the business.David Swart is
the authorised signatory and active in the business, and his ID number was
submitted.) |
Active Principals
Principal 1 of 3: DAVID SWART
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Surname |
SWART |
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First Name |
DAVID |
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Other Names |
None |
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Marital Status |
Married |
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ID Number |
6304255097081 |
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Verified ID Number |
Yes |
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Current Age |
49 |
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Designation |
Trustee |
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Status |
Active |
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Appointment Date |
1998 |
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Physical Address (at time of Appointment) |
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Postal Address |
19 Portland Place DURBAN NORTH DURBAN 4051 |
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Current Tel Number |
031 3033882 |
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Cell number |
083 7822299 |
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Current Fax Number |
086 5127797 |
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Current Email Address |
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Shareholding |
majority |
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Adverse Information for DAVID SWART
Judgement
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Number of
Judgements |
None |
Debt
Review
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Debt review |
None |
Other
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Default data |
None |
Deeds Information
Property
Interestsfor DAVID SWART
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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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Principal
2 of 3: RENE SWART
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Surname |
SWART |
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First Name |
RENE |
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Other Names |
None |
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Marital Status |
Married |
Principal 3 of 3: COLIN MARK POOLE
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Surname |
POOLE |
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First Name |
COLIN |
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Other Names |
MARK |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.29 |
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UK Pound |
1 |
Rs.77.60 |
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Euro |
1 |
Rs.64.67 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.