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Report Date : |
03.04.2013 |
IDENTIFICATION DETAILS
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Name : |
PRO-SLIT CC |
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Registered Office : |
61 Marshall Drive, Mount
Edgecombe Durban 4301, Kwa-Zulu Natal |
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Country : |
South Africa |
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Date of Incorporation : |
24.08.1995 |
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Com. Reg. No.: |
1995/035334/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
general traders dealing with converting and slitting of paper, suppliers of baby diapers, adult diapers, dealers in Motor Cycle Tyres etc |
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No. of Employees : |
50 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
South Africa |
A2 |
A2 |
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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 - 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.
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Source : CIA |
Registered Name: PRO-SLIT CC
Requested Name: PROSLIT
Other Names: None
Physical Address: 61 Marshall Drive, Mount
Edgecombe Durban 4301, Kwa-Zulu Natal
Postal Address: P. o. Box 20708, Durban North,
Durban 4016,
Country: South
Africa
Phone: 27-31-5692681/5022821
Fax: 27-31-5692681
Email: tonyb@proslit.co.za / antk@proslit.co.za
Website: www.proslit.co.za
Legal Form: Close Corporation
Date Incorporated: 24/08/1995
Reg. Number: 1995/035334/23
Tax Number: 9041778201
Nominal Capital ZAR. 100
Subscribed Capital ZAR. 100
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Anthony Howard King MD
Mr. Vernon James Dove Director
Mr. Anthony Wayne Brinkman Director
Full Names ANTHONY
HOWARD KING
Status Active
Date of Birth 01/02/1963
ID / Passport No. 6302015197084
Member interest (%) 33.33
Member Contribution(ZAR) 33.33
Residential Address 1
Kingsway, 269 Currie Road, Durban4001
Postal Address 1
Kingsway, 269 Currie Road, Durban4001
Profession Managing
Director
Country of residence South
Africa
Full Names VERNON
JAMES DOVE
Status Active
Date of Birth 08/08/1963
ID / Passport No. 6308085136084
Member interest (%) 33.33
Member Contribution(ZAR) 33.34
Residential Address 21
Berkeley Crescent, Durban North4016
Postal Address P.o.
Box 30714Mayville4058
Profession Director
Country of residence South
Africa
Full Names Anthony
Wayne Brinkman
Status Active
Date of Birth 15/10/1967
ID / Passport No. 6710155030008
Member interest (%) 33.33
Member Contribution(ZAR) 33.33
Residential Address 22
Durnford Avenue, La Lucia4051
Postal Address P.o.
Box 30714Mayville4058
Profession Director
Country of residence South
Africa
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as general traders dealing with converting and
slitting of paper, suppliers of baby diapers, adult diapers,
dealers in Motor Cycle Tyres etc
Imports: Asia,
USA
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 50
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: South
Africa
Location: Rented
premises, 2,500 square feet,
Auditors: R I KENNEDY AND ASSOCIATES
Insurance
Brokers: Information not available.
Currency Reported: South African Rand (ZAR.)
Approx. Ex. Rate: 1 US Dollar = 9.19 South African Rand
Fiscal Year End: December
31, 2012
Inflation: According to
information given by independent sources, the
inflation
at December 31st, 2012 was of 13%.
Financial
Information not Submitted
Profit and Loss (expressed in ZAR.)
2012
Sales 50,000,000
Bank Name: Standard Bank
Branch: South Africa
Comments: None
Experiences: Good
None
This
information was obtained from outside sources other than the subject company
itself and confirmed the above subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.33 |
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UK Pound |
1 |
Rs.82.72 |
|
Euro |
1 |
Rs.69.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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.