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Report Date : |
20.06.2012 |
IDENTIFICATION DETAILS
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Name : |
SPICE DELITE CC |
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Formerly Known As : |
RINGSIDE TRADING 527 |
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Registered Office : |
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Country : |
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Date of Incorporation : |
20.04.2009 |
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Com. Reg. No.: |
B2009/078466/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Manufacturing of spices |
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No. of Employees : |
20 |
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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
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Subject Name |
SPICE DELITE CC |
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Country |
SOUTH AFRICA |
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Subject Contact person |
CEO-FIYAZ HASSEN (031 902 3993) |
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Assessment |
Oninvestigationwemadecontact with the subject and we were referred to the CEO Mr FIYAZ HASSEN. He has assisted us with the information required however has deemed thefinancials as confidential and could not assist with that. The subject is meeting payments timeously with suppliers. We have obtaineda bank code C for R 250 000 on the subject. Please see available information the subjectbelow. |
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Registered Name |
SPICE DELITE CC |
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Trading as/ Division Name |
SPICE DELITE |
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Previous Name |
RINGSIDE TRADING 527 |
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Date of Name Change |
2010/04/28 |
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Registration Number |
B2009/078466/23 |
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Registration Date |
2009/04/20 |
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Date Commenced Trading |
2009/04/28 |
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Age of Business |
3 Years 2 Months |
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History of Business |
Started as a new Business in 2009 and had a name change in 2010 however operations remained the same. |
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History of Principals |
1-active Director |
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Shareholders and % holding |
100%- SUMMAYA HASSIM |
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Authorised Share Capital |
Unavailable |
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Issued Share Capital |
Unavailable |
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Status |
In Business |
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Operations Assessment |
Manufacturing of spices |
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Industry/ Customers |
Food and supermarket Industry |
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Export |
None |
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Major Industry Code / SICC |
30499 |
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Definition of Code |
Manufacture
of spices, condiments, vinegar, yeast, egg products, soups and other food
products n.e.c. |
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Head Office Physical Address |
80 Old Road ISIPINGO RAIL DURBAN |
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Head Office Postal Address |
P.O.Box 26497 ISIPINGO BEACH DURBAN |
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Current Tel Number |
031 902 2993 |
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Cell number |
None |
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Current Fax Number |
031 902 7785 |
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Current Email Address |
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Web Site Address |
None |
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Company Registered Name |
SAB&T DURBAN Chartered Accountants |
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Trading Name |
SAB&T DURBAN Chartered Accountants |
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Registration Number |
Partnership |
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Physical Address |
15 Summit Drive Sherwood Durban 4091 |
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Postal Address |
P.O. Box 30108 Mayville 4058 |
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Contact Person |
DILIP R NATHOO |
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Contact Number |
031 275 9400 |
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Email |
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Principals |
2 |
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Judgements Against Subject |
None |
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Judgements Against Principals |
None |
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Subject Verified as Client |
Yes |
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SAICA number |
903773 |
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VAT Number |
4160255750 |
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Tax Number |
Unavailable |
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BEE Status |
Level 1 |
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Financial Year End |
February |
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Years With Auditors |
9 Months |
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Website |
None |
Previous Auditors
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Company Name |
Phone Number |
Time with previous auditors |
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LSG INTEGRATED |
Unavailable |
3 |
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Vat Number |
4240257339 |
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Status |
Active |
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Vat Liable Date |
2009-06-01 |
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Tax Number |
9429704167 |
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Tax Clearance Expire Date |
Unavailable |
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Financial Year End |
February |
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Status |
None |
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Score |
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Expire Date |
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BEE Certificate Available |
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Type of ISO Grade |
None |
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ISO Certificate |
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ISO Certificate Available |
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Certified by an Accredited Agent |
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Registered |
Yes |
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Compliance Certified |
Yes |
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 |
20 |
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1. Salaried
employees |
3 |
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2. Waged
employees |
17 |
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3. Permanent
employees |
20 |
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 |
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1. Light
Delivery Vehicles |
4 |
Owned |
R 430 000 |
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Offices |
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Head Office Owned/ Rented |
Rented |
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Rental Company |
I HIT EXPRESS |
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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 |
1 |
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Lease Expire Date |
2 Years |
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Type of Premises |
Offices and Factory |
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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Organisation chart
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Level |
Position |
Name |
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1 |
Director |
SUMMAYA HASSIM |
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Company Structure
(Ownership)
Note: One level up and
all levels down
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Holding |
Company |
Sub |
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Unavailable |
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Key
deals signed within the past 12 months.
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Company |
Value |
Contact |
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None |
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Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
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1 |
PROTEA CHEMICAL |
011 842 3600 |
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2 |
AFRICA PAINTS |
031 902 8786 |
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3 |
AQ HOLDING |
032 552 2950 |
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4 |
VERLUM HOLESALERS |
032 533 7024 |
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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 Years 1 Months |
R 250 000 |
R 39 000 |
30 Days |
R 20 000 –
R 30 000 |
30 Days |
Good |
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2 |
2 Years |
R 100 000 |
R 150 000 |
30 Days |
R 70 000 – R
80 000 |
30 Days |
Excellent |
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3 |
Unable |
To obtain |
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4 |
4 Years |
R 100 000 |
Unavailable |
30 Days |
R 50 000
– R 100 000 |
30 Days |
Very Good |
Judgements
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Judgements |
1 |
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Possible Judgements |
None |
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Civil Court |
None |
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RDs |
None |
Business Rescue
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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 |
STANDARD BANK |
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Branch |
JACOBS |
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Bank Account Number |
051686937 |
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Type of Account |
CURRENT |
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Account Name |
Spice Delite |
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Overdraft Facilities |
Yes (R 150 000) |
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Date Opened |
Unavailable |
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Bank Code |
C |
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Bank Comment |
The subject’s bankers consider them good for all business normal engagements |
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
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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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Property Interestsfor 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 Estimates
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CURRENT ASSETS |
Unavailable |
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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 |
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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 |
1 |
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Average Age of Active Principals |
34 |
Active Principals
Principal 1 of 1: SUMMAYA HASSIM
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Surname |
HASSIM |
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First Name |
SUMMAYA |
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Other Names |
None |
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Marital Status |
Unavailable |
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ID Number |
7802030053088 |
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Verified ID Number |
Yes |
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Current Age |
34 |
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Designation |
Director |
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Status |
Active |
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Appointment Date |
2011/12/06 |
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Physical Address (at time of Appointment) |
38 James Avenue ISIPINGO HILLS 4110 |
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Postal Address |
PO Box 12144 JACOB 4026 |
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Current Tel Number |
0118645205 |
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Cell number |
0832776299 |
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Current Fax Number |
Unavailable |
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Current Email Address |
Unavailable |
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Shareholding |
100% |
Adverse Information for :: SUMMAYA HASSIM
Judgement
|
Number of
Judgements |
None |
Debt
Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information for: SUMMAYA HASSIM
Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
SPICE DELITE CC |
B2009/078466/23 |
In Business |
3 Years 2 Months |
0 |
No |
Previous
Business Interests
|
Average Age of
Previous Business Interests |
None |
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Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
None |
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Deeds
Information
Property
Interestsfor :: SUMMAYA HASSIM
|
Title Deed No. |
ST57856/2003 |
Erf/Site No. |
12006-12008 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
92 DENIS HURLEY DURBAN CENTRAL DURBAN |
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Property Type |
Sectional Title / Unit |
Extent / Size |
78.0SQM |
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Purchase Date |
2002-10-14 |
Purchase price |
R 95 500 |
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% Ownership |
|
Bond Holder |
|
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Bond Number |
K3041997S |
Bond Amount |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.01 |
|
UK Pound |
1 |
Rs.87.85 |
|
Euro |
1 |
Rs.70.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
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.