MIRA INFORM REPORT

Report Date :

17.10.2012

IDENTIFICATION DETAILS

Name :	TANTUS TRADING 284 (PTY)LTD

Registered Office :	10 Diamond Street, Carltonville, 2500

Country :	South Africa

Date of Incorporation :	27.09.2004

Com. Reg. No.:	M2004/027472/07

Legal Form :	Private Company

Line of Business :	Retail of textiles

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

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 30^th, 2012

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

South Africa

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 Unemployment remains high and outdated infrastructure has constrained growth.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

Summary

Subject Name	TANTUS TRADING 284 CC
Country	South Africa
Subject Contact Person	MR. IRFAN - Financial Manager
Assessment	This is an established business. On investigation we made contact with the subject and we were referred to the Financial Manager MR. IRFAN who requested that we send through a questionnaire. On following up on the questionnaire MR. IRFAN requested more time to complete the questionnaire. We await further information for the subject. Please see the available information for the subject below.

Auditors information

Company Registered Name	RWFC FINANCIAL CONSULTING INCORPORATED
Trading Name
Registration Number	M2001/000693/21
Physical Address	33 CENTRAL STREET, HOUGHTON ESTATE, 2198
Postal Address	P 0 BOX 1364, HOUGHTON, 2041
Principals	2
Subject Verified as Client	Yes
Practice Number	900397
VAT Number	4060194109
Tax Number	9389114142
BEE Status
Financial Year End	February
No of years in Business	Unknown

Previous Auditors

Company Name	Phone Number	Time with previous auditors	Comment
B G B SMIT OUDITEURE		Unknown

Tax information

Vat Number	4490217785
Status	ACTIVE
Vat Liable Date	2005/03/01
Tax Number	9046594157
Tax Clearance Expire Date
Financial Year End	February
Comment

Black Economic Empowerment Information - No Information on Record

ISO Information - No Information on Record

Work Mans Information - No Information on Record

Company Structure

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

Management Overview

Organisation Chart

Level	Position	Name	Comment

1	Director	MOHAMED KAROLIA

1	Director	RASH ID NOSARKA

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
75%	RASH ID NOSARKA
25%	MOHAMED KAROLIA

Key Deals - No Info rmation on Record

Trade References Information - No Information on Record

Adverse Information on Subject

Judgements - No information on record

BusinessRescue - No Information on Record

Default Listing - No information on record

Notarial Bonds - No information on record

Bank Information - No Information on Record

Bank Code History - No Information on Record

Previous Bank Account Informat ion - No Information on Record

Deeds Information - No information on record

Principals

Number of Principals	2
Average Age of Active Principals	50
Active Principals Principal - 1of 2 R NOSARKA
Surname	NOSARKA
First Name	R
Other Names	None
Marital Status	Single
ID Number	4104035093059
Verified ID Number	Yes
Current Age	71
Designation	Member
Status	Active
Appointment Date	2008/12/01
Physical Address (at time of Appointment)	56 BAARD STREET EXT 9, CARLETONVILLE, 2499
Postal Address	P 0 BOX 107, CARLETONVILLE,
Current Tel Number	0187886697
Cell number	0825548612
Shareholding/Membership	75.0000

Principal's Adverse - No information on record

Business Information forR NOSARKA

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
COLIN TRADING HOLDINGS CC	B1987/004066/23	In Business	25 Years 1 Months	0	No
CARLETON COLLECTION CC	B1988/014572/23	In Business	0	0	No
FABRIC WORLD (PTY) LTD	M1979/006449/07	In Business	33 Years 9 Months	0	No
ERF 341 AZAADVILLE (PTY) LTD	M1980/004393/07	In Business	32 Years 8 Months	0	No
ERVEN ONE-FIVE-O-FOUR- AND-FIVE WESTONARIA ;n-r\/\i -rn	M1981/009018/07	In Business	31 Years 7 Months	0	No
NOSMIN PROPERTY HOLDINGS (PTY) LTD	M1983/013183/07	In Business	29 Years 5 Months	0	No
ERF 133 CARLETONVILLE (PTY) LTD	M1988/000529/07	In Business	0	0	No
CARLETON FABRICS (PTY) LTD	M1988/000531/07	In Business	0	0	No
TANTUS TRADING 284 (PTY)LTD	M2004/027472/07	Conversion CO/CC or CC/CO	8 Years 8 Months	0	No

Principal Previous Business Interests

Average Age of Previous Business 18 Years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
CITIZEN CASH AND CARRY CC	B1996/046341/23	Deregistration Final	16 Years 4 Months	0	No
BUSINESS PARTNERS LTD	M1981/000918/06	In Business	31 Years 7 Months	2	No
AMALGAMATED CURTAINING LTD	M1987/006054/06	Deregistration Final	25 Years 1 Months	0	No
R F N INVESTMENTS (PTY) LTD	M1993/001370/07	In Business	19 Years 7 Months	0	No
XTRAPROPS 214 (PTY) LTD	M2000/015547/07	Deregistration Final		0	No

Principal's Deeds Information - No information on record

Principal - 2of 2

MOHAMED KAROLIA

Surname	KAROLIA
First Name	MOHAMED
Other Names	None
Marital Status	Single
ID Number	8303045048089
Verified ID Number	Yes
Current Age	29
Designation	Member
Status	Active
Appointment Date	2008/12/01
Physical Address (at time of Appointment)	28 KRIEK STREET EXT 9, CARLETONVILLE, 2499
Postal Address	P 0 BOX 107, CARLETONVILLE, 2499
Current Tel Number	0187886697
Cell number	0825551546
Shareholding/Membership	25.0000

Principal's Adverse - No information on record

Business Information forM OHAMED KAROLIA

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
IRFAN INVESTMENTS CC	B2011/080307/23	In Business	1 Years 1 Months	0	No
ERF 341 AZAADVILLE (PTY) LTD	M1980/004393/07	In Business	32 Years 8 Months	0	No
TANTUS TRADING 284 (PTY)LTD	M2004/027472/07	Conversion CO/CC or CC/CO	8 Years 8 Months	0	No

Principal's Deeds Information - No information on record

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.82
UK Pound	1	Rs.84.96
Euro	1	Rs.68.61

INFORMATION DETAILS

Report Prepared by :

PRL

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

Registered Name	TANTUS TRADING 284 (PTY)LTD
Registration Number	M2004/027472/07
Registration Date	2004/09/27
Date Commenced Trading	2004-09-27
Age of Business	8 Years 1 Months
History of Business	The subject was establishhed as a new business in 2004 and operations commenced immediately.
History of Principals	There are 2 active members within the company.
Shareholders/Members/Partners of subject and % holding	75%-RASHID NOSARKA, 25%-MOHAMED KAROLIA
Authorised Share Capital	R1000.00
Issued Share Capital/Members Contribution	R 100.00
Status	Conversion CO/CC or CC/CO
Operations Assessment	Retail of textiles
Industry/ Customers	All Major clothing companies.
Major Industry Code / SICC	6232
Definition of Code
Head Office Physical Address	10 Diamond street, CARLTONVILLE, 2500
Head Office Postal Address	PO Box 107, CARLTONVILLE, 2500
Current Tel Number	0187886697
Cell Number
Current Fax Number	0187872768
Current Email Address	edura@mweb.co.za