|
Report Date : |
01.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
CASA DAS LOICAS LDA |
|
|
|
|
Registered Office : |
Avenida,
Karl Marx, No.1230-A, Maputo, Mozambique |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Year of Establishment : |
1993 |
|
|
|
|
Com. Reg. No.: |
Not Available |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Subject is engaged in the importing and retail of crockery, glassware ,stainless steel products and home ware |
|
|
|
|
No. of Employees : |
50 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 Unemployment remains high and outdated infrastructure has constrained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 |
CASA DAS LOICAS |
|
Country |
MOZAMBIQUE |
|
Subject Contact person |
IRFAAN AHMED - Store Manager |
|
Assessment |
On investigation contact was made with the respondent at the concern. He advised us that the owners are out of the country until the 17th of September 2012. He was unable to assist us with any financial or banking details. No local trade references were made available as the subject imports all their stock. Please see the available information obtained below. |
|
Registered Name |
CASA DAS
LOICAS LDA |
|
Trading as/ Division Name |
CASA DAS
LOICAS LDA |
|
Previous Name |
None |
|
Registration Number |
Unavailable |
|
Registration Date |
1993 |
|
Date Commenced Trading |
1993 |
|
Age of Business |
19 Years |
|
History of Business |
CASA DAS
LOICAS LDA was registered in 1993 and operations commenced immediately |
|
History of Principals |
Unavailable |
|
Shareholders and % holding |
The shareholding structure was not made available |
|
Authorised Share Capital |
R 1000 |
|
Issued Share Capital |
R 100 |
|
Status |
In
Business |
|
Operations Assessment |
The company is involved in the importing and retail of crockery, glassware ,stainless steel products and home ware. The company imports all their products from China, The UK and Brazil. |
|
Industry/ Customers |
Hotels
and Restaurants |
|
Export |
None |
|
Major Industry Code / SICC |
62330 |
|
Definition of Code |
RETAIL
TRADE IN HOUSEHOLD FURNITURE, APPLIANCES, ARTICLES AND EQUIPMENT |
|
Head Office Physical Address |
Avenida.Karl
Marx NO.1230-A MAPUTO MOZAMBIQUE |
|
Head Office Postal Address |
Po Box
465 BAIRRO
CENTRO 1100 |
|
Current Tel Number |
00258
213 03338 / 21944 |
|
Cell number |
Unavailable |
|
Current Fax Number |
00258
213 322808 |
|
Current Email Address |
|
|
Web Site Address |
None |
|
Company Registered Name |
SULEMAN AHMED |
|
Trading Name |
Unavailable |
|
Registration Number |
Unavailable |
|
Physical Address |
Unavailable |
|
Postal Address |
Unavailable |
|
Contact Person |
Unavailable |
|
Contact Number |
Unavailable |
|
Email |
Unavailable |
|
Principals |
Unavailable |
|
Judgements Against Subject |
Unavailable |
|
Judgements Against Principals |
Unavailable |
|
Subject Verified as Client |
Unavailable |
|
Profession Number |
Unavailable |
|
VAT Number |
Unavailable |
|
Tax Number |
Unavailable |
|
BEE Status |
Unavailable |
|
Financial Year End |
Unavailable |
|
Years With Auditors |
Unavailable |
|
Website |
Unavailable |
Previous Auditors
|
Company Name |
Phone Number |
Time with previous auditors |
|
Unknown |
|
|
|
Vat Number |
Unavailable |
|
Status |
Not
Applicable |
|
Type of ISO Grade |
None |
|
ISO Certificate |
No |
|
ISO Certificate Available |
No |
|
Certified by an Accredited Agent |
No |
|
Registered |
Yes |
|
Compliance Certified |
Yes |
Subsidiaries
|
Subsidiary Company |
None |
|
Number of
Employees |
50 |
Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
5 |
|
|
|
|
The Fleet is made up of |
|
|||
|
1. Cars |
3 |
|
|
|
|
2. Light
Delivery Vehicles |
2 |
|
|
|
|
Offices |
|
Head Office Owned/ Rented |
Owned |
|
Owned by |
Undisclosed |
|
Value |
Undisclosed |
|
Bond |
Undisclosed |
|
Bank |
Undisclosed |
|
Type of Premises |
Showroom and Retail Shop |
|
Branches Names |
Country |
Province |
|
There are no reported branches |
|
|
Organisation chart
|
Level |
Position |
Name |
|
1 |
CEO |
MUHAMMAD SULEMAN |
Company Structure
(Ownership)
Note: One level up and
all levels down
|
Holding |
Company |
Sub |
|
There is no reported holding company |
|
|
Key
deals signed within the past 12 months.
|
Company |
Value |
Contact |
|
|
|
None |
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
|
1 |
The Ceramica Stefani S.A(BRAZIL) |
55-16-32094788 |
|
|
|
2 |
KENWOOD LTD(HAMPSHIRE) |
0239
2392333 |
|
|
Adverse
Information on Subject
Judgements
|
Judgements |
None |
|
Possible
Judgements |
None |
|
Civil Court |
None |
|
RDs |
None |
Business Rescue
|
Date registered |
Business rescue practitioner |
Contact Information |
Details |
|
None |
|
|
|
Default Listings
|
Date |
Details |
|
None |
|
Notarial Bonds
|
Date |
Details |
|
None |
|
|
Bank |
DECLINED |
|
Branch |
DECLINED |
|
Bank Account Number |
DECLINED |
|
Type of Account |
DECLINED |
|
Account Name |
DECLINED |
|
Overdraft Facilities |
DECLINED |
|
Date Opened |
DECLINED |
|
Bank Code |
P |
|
Bank Comment |
A Bank
code could not be obtained as the subject declined to provide a bank account
number. |
Bank Codes History
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
Years with bank |
|
None |
|
|
|
|
|
|
|
Previous Bank
Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
Declined |
|
|
|
|
|
Property Interests
for Company
|
Title Deed No. |
None |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Financial
Estimates
|
CURRENT ASSETS |
All
financial information is considered confidential |
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 |
|
Number of Principals |
2 |
|
Average Age of Active Principals |
Unknown |
Active Principals
Principal 1 of 2: MUHAMMAD SULEMAN
|
Surname |
SULEMAN |
|
First Name |
MUHAMMAD |
|
Other Names |
None |
|
Marital Status |
Declined |
|
ID Number |
Declined |
|
Verified ID Number |
Declined |
|
Current Age |
Declined |
|
Designation |
CEO |
|
Status |
Active |
|
Appointment Date |
1993 |
|
Physical Address (at time of Appointment) |
Declined |
|
Postal Address |
Po Box
465 BAIRRO
CENTRO 1100 |
|
Current Tel Number |
00258
213 03338/21944 |
|
Cell number |
Unavailable |
|
Current Fax Number |
00258
213 322808 |
|
Current Email Address |
|
|
Shareholding |
Unknown |
Adverse Information for: MUHAMMAD SULEMAN
Judgement
|
Number of
Judgements |
None |
Debt
Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information for: MUHAMMAD SULEMAN
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
Undisclosed |
|
|
|
|
|
Previous Business
Interests
|
Average Age of
Previous Business Interests |
|
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
Undisclosed |
|
|
|
|
|
Property Interests for: MUHAMMAD SULEMAN
|
Title Deed No. |
Undisclosed |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Principal 2 of 2: MUHAMMED
AHMED
|
Surname |
MUHAMMED |
|
First Name |
AHMED |
|
Other Names |
None |
|
Marital Status |
Declined |
|
ID Number |
Declined |
|
Verified ID Number |
Declined |
|
Current Age |
Declined |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
1993 |
|
Physical Address (at time of Appointment) |
Declined |
|
Postal Address |
Po Box 465 BAIRRO CENTRO 1100 |
|
Current Tel Number |
00258 213
03338/21944 |
|
Cell number |
Unavailable |
|
Current Fax Number |
00258 213
322808 |
|
Current Email Address |
|
|
Shareholding |
Unknown |
Adverse
Information for: MUHAMMED AHMED
Judgement
|
Number of
Judgements |
None |
Debt
Review
|
Debt review |
None |
Other
|
Default data |
None |
Business
Information for: MUHAMMED AHMED
Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
Undisclosed |
|
|
|
|
|
Previous
Business Interests
|
Average Age of
Previous Business Interests |
|
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
Undisclosed |
|
|
|
|
|
Property
Interests for: MUHAMMED AHMED
|
Title Deed No. |
Undisclosed |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.72 |
|
UK Pound |
1 |
Rs.87.95 |
|
Euro |
1 |
Rs.69.66 |
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.