|
Report Date : |
11.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
MULTI FABRICS CC |
|
|
|
|
Registered Office : |
27
Telford Road Industria, Johannesburg, Gauteng |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
28.04.1989 |
|
|
|
|
Com. Reg. No.: |
B1989/013365/23 |
|
|
|
|
Legal Form : |
Closed Corporation |
|
|
|
|
Line of Business : |
subject imports and retail textiles such as linen, cotton, carpet |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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 Unemployment remains high and outdated infrastructure has constrained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 |
MULT I FABRICS CC |
|
Country |
South Africa |
|
Subject Contact Person |
ABDUL MOTTIAR - Member |
|
Assessment |
This
is an established business. On investigation we made contact with the subject
and we were referred to the member MR. ABDUL MOTTIAR who declined to assist
with any information regarding the subject. MR.
MOTTIAR requested to know who the principal enquirer is before he may provide
any of the subject's information. Please
see the available information for the subject below. |
|
Registered Name |
MULTI FABRICS CC |
|
Trading as/ Division Name |
MULTI FABRICS |
|
Registration Number |
B1989/013365/23 |
|
Registration Date |
1989/04/28 |
|
Date Commenced Trading |
1989-04-28 |
|
Age of Business |
23 Years 5 Months |
|
History of Business |
The subject started out as a new business in 1989. |
|
History of Principals |
There is two active principals within the Subject. |
|
Shareholders/Members/Partners of subject and % holding |
50 % - MAHHMAD MOTTIAR50 % - ABDUL MOTTIAR |
|
Authorised Share Capital |
R0.00 |
|
Issued Share Capital/Members Contribution |
R0.00 |
|
Status |
In Business |
|
Operations Assessment |
The
subject imports and Retail Textiles such as linen,cotten,carpet |
|
Industry/ Customers |
All Major manufacturing companies. |
|
Import |
Yes |
|
Import Countries |
India |
|
Major Industry Code / SICC |
62323 |
|
Definition of Code |
Retail trade by general outfitters and by dealers in piece
goods, textiles, leather and travel accessories |
|
Head Office Physical Address |
27 Telford Road Industria, Johannesburg, GAUTENG, SOUTH
AFRICA |
|
Head Office Postal Address |
P 0 BOX 42676, FORDSBURG, 2033 |
|
Current Tel Number |
0114740754 |
|
Current Fax Number |
0114740756 |
|
Current Email Address |
|
Company Registered Name |
KARIOLIA JEENA INC |
|
Registration Number |
M2000/007138/21 |
|
Physical Address |
30 JELLICOE AVENUETAARIQ CRESCENTROSEBANK2196 |
|
Postal Address |
PRIVATE BAG X 2677 SAXONWOLD 2132 |
|
Contact Number |
0116464093 |
|
Principals |
3 |
|
Subject Verified as Client |
Yes |
|
Practice Number |
920037E |
|
VAT Number |
4830188605 |
|
Tax Number |
9174104142 |
|
Financial Year End |
February |
|
No of years in Business |
Unknown |
|
Vat Number |
4320185574 |
|
Tax Number |
9002410844 |
|
Financial Year End |
February |
Black Economic Empowerment Information - No Information on Record
ISO Information - No Information on Record
Work Mans Information - No Information on Record
Subsidiaries Information - No Information on Record
Employees Information - No Information on Record
Company Fleet Information - No Information on Record
Offices Information - No Information on Record
Branch Information - No Information on Record
Organizational Chart - No Information on
Record
Note: One level up and all levels down
Company Structure Information - No Information
on Record
Key Deals - No Information on Record
Trade References Information - No Information on
Record
Judgements - No information on record
Business Rescue - No Information on Record
Default Listing - No information on record
Notarial Bonds - No information on
Bank Information - No Information on Record
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 |
63 |
Active Principals Principal - 1of 2 MAHHMAD MOTTIAR
|
Surname |
MOTTIAR |
|
First Name |
MAHHMAD |
|
Other Names |
None |
|
Marital Status |
Single |
|
ID Number |
6403185228087 |
|
Verified ID Number |
Yes |
|
Current Age |
48 |
|
Designation |
Member |
|
Status |
Active |
|
Appointment Date |
2005/03/03 |
|
Physical Address (at time of Appointment) |
24 6TH STREET, HOUGHTON, 2198 |
|
Postal Address |
P 0 BOX 42966, FORDSBURG, 2033 |
|
Current Tel Number |
0114740755 |
|
Cell number |
0827831223 |
|
Shareholding/Membership |
50% |
Principal's Adverse -
No information on record
Business
Information for MAHHMAD MOTTIAR
Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
MULTI FABRICS CC |
B1989/013365/23 |
In
Business |
23 Years 11 Months |
0 |
No |
|
|
ONE TWO FOUR CROWN
EXTENSION CC |
B1991/024244/23 |
In
Business |
21 Years 9 Months |
0 |
No |
|
|
BALTIMORE TRADING CC |
B1994/029125/23 |
In
Business |
18 Years 6 Months |
0 |
No |
|
|
CHANYARON
INVESTMENTS CC |
B1996/044680/23 |
In
Business |
16 Years 4 Months |
0 |
No |
|
|
TDF DISTRIBUTORS CC |
B1999/058402/23 |
In
Business |
13 Years 1 Months |
0 |
No |
|
|
UNIVERSAL FIBRE CC |
B2001/026849/23 |
In
Business |
11 Years 11 Months |
0 |
No |
|
|
MOSSBAY PROPERTY INVESTMENTS (PTY) LTD |
M1988/006569/07 |
In
Business |
0 |
0 |
No |
|
Principal Previous
Business Interests
Average Age of Previous Business 17 years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
PROTEA TEXTILES CC |
B1991/014028/23 |
Voluntary Liquidation |
21 Years 9 Months |
0 |
Yes |
|
|
ERF
97 LEA GLEN TOWNSHIP CC |
B1992/029475/23 |
Conversion CO/CC orCC/CO |
20 Years 8 Months |
0 |
No |
|
|
DATRO
TECH 11 (PTY) LTD |
M2001/006447/07 |
Deregistration
Final |
11 Years 11 Months |
0 |
No |
|
Principal's Deeds
Information - No information on record
Principal
- 2of 2 ABDUL MOTTIAR
|
Surname |
MOTTIAR |
|
First Name |
ABDUL |
|
Other Names |
None |
|
Marital Status |
Married |
|
ID Number |
3303155059053 |
|
Verified ID Number |
Yes |
|
Current Age |
79 |
|
Designation |
Member |
|
Status |
Active |
|
Appointment Date |
1989/04/28 |
|
Physical Address (at time of Appointment) |
52A PARK DRIVE, FORDSBURG, 2033 |
|
Postal Address |
PO BOX 42783, FORDSBURG, 2023 |
|
Current Tel Number |
0114740754 |
|
Cell number |
0832584874 |
|
Shareholding/Membership |
50.0000 |
Principal's Adverse -
No information on record
Business
Information for ABDUL MOTTIAR
Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
IPS FOODS CC |
B1988/023563/23 |
Conversion CO/CC or CC/CO |
0 |
0 |
No |
|
|
MULTI FABRICS CC |
B1989/013365/23 |
In Business |
23 Years 11 Months |
0 |
No |
|
|
ONE TWO FOUR CROWN
EXTENSION CC |
B1991/024244/23 |
In Business |
21 Years 9 Months |
0 |
No |
|
|
BALTIMORE TRADING CC |
B1994/029125/23 |
In Business |
18 Years 6 Months |
0 |
No |
|
|
TDF DISTRIBUTORS CC |
B1999/058402/23 |
In Business |
13 Years 1 Months |
0 |
No |
|
|
MOSSBAY PROPERTY INVESTMENTS (PTY) LTD |
M1988/006569/07 |
In Business |
0 |
0 |
No |
|
Principal Previous
Business Interests
Average
Age of Previous Business 18
years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
ERF
97 LEA GLEN TOWNSHIP CC |
B1992/029475/23 |
Conversion CO/CC or CC/CO |
20 Years 8 Months |
0 |
No |
|
|
CHANYARON INVESTMENTS CC |
B1996/044680/23 |
In Business |
16 Years 4 Months |
0 |
No |
|
|
DATRO
TECH 11 (PTY) LTD |
M2001/006447/07 |
Deregistration
Final |
11 Years 11 Months |
0 |
No |
|
|
APX PHARMA DISTRIBUTORS (PTY) LTD |
M2003/002511/07 |
In Business |
9 Years 9 Months |
0 |
No |
|
|
CHILLERS CC |
B1985/003881/23 |
Conversion CO/CC or CC/CO |
27 Years 3 Months |
0 |
No |
|
|
FORUM TEXTILES CC |
B1989/008328/23 |
Deregistration
Final |
23
Years 11 Months |
0 |
No |
|
|
PROTEA TEXTILES CC |
B1991/014028/23 |
Voluntary Liquidation |
21 Years 9 Months |
0 |
Yes |
|
Principal's Deeds
Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.04 |
|
UK Pound |
1 |
Rs.84.83 |
|
Euro |
1 |
Rs.68.21 |
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.