MIRA INFORM REPORT

Report Date :

14.09.2012

IDENTIFICATION DETAILS

Name :	VILLA FOOTWEAR CC

Registered Office :	10 Archary Road, Clairwood, ROSSBURGH

Country :	South Africa

Date of Incorporation :	01.10.1996

Com. Reg. No.:	B1996/047501/23

Legal Form :	Close Corporation

Line of Business :	Manufacture of footwear

No. of Employees :	30

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No complaints
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 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 Unemployment remains high and outdated infrastructure has constrained growth.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

Auditors information

Company Registered Name	YOUSUFF MOOSA
Trading Name
Registration Number	4807165214085
Physical Address	605 Davenport Square89 Helen Joseph RoadDURBAN
Postal Address	P 0 BOX 48155, QULABERT, 4078
Contact Person	YOUSUFF MOOSA
Contact Number	031 2026723
Email	moosa.yusuff@gmail.com
Principals	1
Judgements Against Subject
Judgements Against Principals
Subject Verified as Client	Yes
Practice Number	1270
VAT Number
Tax Number	3184267148
BEE Status
Financial Year End	February
No of years in Business	16
Website
Comment

Previous Auditors Information - No Information on Record

Tax information

Vat Number	4160173292
Status	ACTIVE
Vat Liable Date	1998/03/01
Tax Number	9099151202
Tax Clearance Expire Date
Financial Year End	February
Comment
Black Economic Empowerment
Status
Score
Expire Date
BEE Certificate Available
Comment	The subject is in the process of applying for the BEE status.

ISO Information - No Information on Record
Workman's compensation
Registered	Yes
Compliance Certified	Yes
Comment

Company Structure

Subsidiaries Information - No Information on Record

Employees
Number of Employees	30
1. Salaried employees	2
2. Waged employees	28
3. Permanent employees	30
4. Casual employees
5. Contracted employees
Comment
Company Fleet
Company Fleet	No of vehicles:	Ownerd/Leased	Value	Outstanding Balance
Fleet Operations
The Fleet is made up of	1
Comment
Light delivery Vehicles	1	Owned	R120000.00

Offices

Offices	Offices
Head Office Owned/ Rented	Owned
Rental Company
Owned by	VILLA FOOTWEAR CC
Value	R 4000000.00
Bond
Bank
Lease Agreement
Lease Expire Date
Type of Premises	FACTORY AND OFFICES
Comment

Branch Information - No Information on Record

Management Overview

Organisation Chart

Level	Position	Name	Comment
1	Member	RIYAZUL GOOLAM HUSSAIN

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
100	RIYAZUL GOOLAM HUSSAIN

Key Deals - No Information on Record

Trade References

Trade Reference nr	Supplier	Contact	Surety Value	Notarial Bonds	Comment
1	HAES LOOP ANGENCY	031 714 3333
2	CL HANSEN AGENCY	082 4486822
3	RIVORA PAINTS	031 4021720

Trade References Detail

Nr	Age of Acc	Credit Limit	Max Credit	Terms	Average Purchases	Terms Taken	Comment
1	10 Years	R 20000.00	R 7000.00	30 Days	R5000	30 Days	Good Account
2	4 Years	R 250000.00		30 Days	R 200000	30 Days	Good Account
3	3 Years	R10000.00	R10000.00	30 Days	R5000	30 Days	Excellent Account.

Adverse Information on Subject

Judgments – No information on record

Business rescue – No information on record

Default – No information on record

Notarial bonds - No information on record

Bank information

Bank	FIRST NATIONAL BANK
Branch	THE BLUFF
Brach Code
Bank Account Number	53730056562
Type of Account	CURRENT
Account Name	VILLA FOOTWEAR CC
Overdraft Facilities	YES
Bank Code	C For R 250000
Bank Comment	The subject's bankers consider them good for all business normal engagements

Bank Code History - No Information on Record

Previous Bank Account Information - No Information on Record

Deeds Information - No information on record

Principals

Number of Principals	1
Average Age of Active Principals	50
Active Principals Principal - 1of 1 RIYAZUL GOOLAM HUSSAIN
Surname	GOOLAM HUSSAIN
First Name	RIYAZUL
Other Names
Marital Status	Married
ID Number	6201185219084
Verified ID Number	Yes
Current Age	50
Designation	Member
Status	Active
Appointment Date	1996/10/01
Physical Address (at time of Appointment)	FLAT 3, 497 CLARE ROAD, CLARE ESTATE, 4090
Postal Address	BOX 65506, RESERVOIR HILLS, 4092
Current Tel Number	031 4659103
Cell number
Shareholding/Membership	100.0000

Principal's Adverse - No information on record

Business Information for RIYAZUL GOOLAM HUSSAIN

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
VILLA FOOTWEAR	6201185219050		Unknown	0	No
VILLA FOOTWEAR CC	B1996/047501/23	In Business	16 Years 4 Months	0	No
SUFISCO INVESTMENTS CC	B1996/052191/23	In Business	16 Years 4 Months	0	No

Principal Previous Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
T W CAR STYLING CC	B2000/001308/23	Deregistration Final		0	No

Principal's Deeds Information – No information on record

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.44
UK Pound	1	Rs.89.30
Euro	1	Rs.71.61

INFORMATION DETAILS

Report Prepared by :

PDT

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.

Subject Name	VILLA FOOTWEAR CC
Country	South Africa
Enquiry Terms	COD
Account Review	Every 6 Months
Subject Contact Person	RIYAZUL GOOLAM HUSSAIN
Assessment	This is an established business. On investigation we made contact with the Member MR RIYAZUL GOOLAM HUSSAIN who assisted with most of the information. However Mr HUSSAIN could not assist us with financial information due to him not having it on hand. The subject is meeting commitments timeously with suppliers. We have obtained a bank code C for an amount of R 250 000 over a period of 30 Days. Please see the available information for the subject below.

Registered Name	VILLA FOOTWEAR CC
Trading as/ Division Name	VILLA FOOTWEAR
Previous Name
Date of Name Change
Registration Number	B1996/047501/23
Registration Date	1996/10/01
Date Commenced Trading	1996-10-01
Age of Business	15 Years 11 Months
History of Business	The subject was established as a new business in 1996.
History of Principals	There is 1 active Member within the company.
Shareholders/Members/Partners of subject and % holding	100%- RIYAZUL GOOLAM HUSSAIN
Authorised Share Capital	R0.00
Issued Share Capital/Members Contribution	R0.00
Status	In Business
Operations Assessment	Manufacture of footwear
Industry/ Customers	SECURITY COMPANIES AND CLOTHING COMPANIES.
Export
Export Countries
Import
Import Countries
Major Industry Code / SICC	31700
Definition of Code
Head Office Physical Address	10 Archary Road, Clairwood, ROSSBURGH
Head Office Postal Address	P O BOX 41240, ROSSBURGH, 4072
Current Tel Number	0314659103
Cell Number
Current Fax Number	0314659105
Current Email Address	vi llafootwea r@ mweb. co. za
Web Site Address
Comments	DEFINITION OF CODE : MANUFACTURE OF FOOTWEAR