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Report Date : |
21.09.2012 |
IDENTIFICATION DETAILS
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Name : |
DADAS SPICES CC |
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Registered Office : |
24
Failsworth Roadallandalepietermaritzburg3201 |
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Country : |
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Date of Incorporation : |
23.04.2001 |
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Com. Reg. No.: |
B2001/025764/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
Manufacture
of spices |
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No. of Employees : |
Not Available |
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RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
A2 |
A2 |
|
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 |
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
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Subject
Name |
DADAS
SPICES CC |
|
Country |
South
Africa |
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Requested
Credit Limit |
$
15000000.00 |
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Enquiry
Terms |
COD |
|
Account
Review |
Every
6 Months |
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Subject
Contact Person |
ASMUDIEN
JAFFER-The Director |
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Assessment |
This is an established business.
On investigation we made contact with the subject and we were referred to the
Director MR ASMUDIEN JAFFER who has declined to assist with any information
regarding the company. He requested to know who is the principal enquirer
before he releases any information on the subject.Please see the available
information on the subject below. |
|
Registered
Name |
DADAS
SPICES CC |
|
Trading
as/ Division Name |
DADAS
SPICES |
|
Previous
Name |
|
|
Date
of Name Change |
|
|
Registration
Number |
B2001/025764/23 |
|
Registration
Date |
2001/04/23 |
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Date
Commenced Trading |
2001-04-23 |
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Age
of Business |
11
Years 5 Months |
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History
of Business |
The
subject started out as a new business in 2001 |
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History
of Principals |
There
are two active principals within the company. |
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Shareholders/Members/Partners
of subject and % holding |
100%-ASMUDIEN
JAFFER |
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Authorised
Share Capital |
R0.00 |
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Issued
Share Capital/Members Contribution |
R0.00 |
|
Status |
In
Business |
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Operations
Assessment |
Manufacture
of spices |
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Industry/
Customers |
Grocery
Stores,resturants and the public |
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Export |
Declined |
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Export
Countries |
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Import |
Declined |
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Import
Countries |
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Major
Industry Code / SICC |
30499 |
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Definition
of Code |
|
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Head
Office Physical Address |
24
Failsworth RoadALLANDALEPIETERMARITZBURG3201 |
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Head
Office Postal Address |
PO
Box 8085CUMBERWOODPIETERMARITZBURG3235 |
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Current
Tel Number |
0333979911 |
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Cell
Number |
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Current
Fax Number |
0333875759 |
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Current
Email Address |
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Web
Site Address |
www.
dadasspice. co. za |
|
Comments |
|
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Company
Registered Name |
M
SEDICK AND ASSOCAITES |
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Physical
Address |
|
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Postal
Address |
P
0 BOX 14637, KENWYN, 7140 |
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Subject
Verified as Client |
Yes |
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Practice
Number |
6389 |
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No
of years in Business |
Unknown |
Previous Auditors
Information - No Information on Record
|
Vat
Number |
4030232161 |
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Status |
ACTIVE |
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Vat
Liable Date |
2006/10/01 |
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Tax
Number |
9825057145 |
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Tax
Clearance Expire Date |
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Financial
Year End |
February |
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Comment |
|
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
Organisational Chart
- No Information on Record
Company Structure
(Ownership)
Note: One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
100% |
ASMUDIEN
JAFFER |
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|
Key Deals - No Information on Record
Trade References Information - No Information
on Record
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 |
1 |
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Average
Age of Active Principals |
67 |
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Active
Principals Principal - 1of 1 ASMUDIEN JAFFER |
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|
Surname |
JAFFER |
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First
Name |
ASMUDIEN |
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Other
Names |
None |
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Marital
Status |
Widowed |
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ID
Number |
4512065071086 |
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Verified
ID Number |
Yes |
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Current
Age |
67 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment
Date |
2001/04/23 |
|
Physical
Address (at time of Appointment) |
46
RUTH ROAD, RYLANDS ESTATE, 7764 |
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Postal
Address |
46
RUTH ROAD, RYLANDS ESTATE, 7764 |
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Current
Tel Number |
0217031287 |
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Cell
number |
0827441291 |
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Shareholding/Membership |
100% |
Principal's Adverse -
No information on record
Business Information
for A SMUDIEN JAFFER
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
DADAS SPICES CC |
B2001/025764/23 |
In Business |
11 Years 11 Months |
0 |
No |
|
Principal's Previous
Business Interests - No information on record
Principal's Deeds
Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.34 |
|
|
1 |
Rs.87.91 |
|
Euro |
1 |
Rs.70.57 |
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 |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<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.