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Report Date : |
04.04.2013 |
IDENTIFICATION DETAILS
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Name : |
SUNBEAM FIBRE PRODUCTS CC |
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Registered Office : |
Main
Clipriver Road, Elkenhof 1872, Johannesburg |
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Country : |
South Africa |
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Date of Incorporation : |
20.10.1986 |
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Com. Reg. No.: |
1986/018859/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
Subject operate as dealers in fibre and steel products and related
facilities |
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No. of Employees : |
80 |
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) |
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Mauritius |
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 |
mauritius - ECONOMIC OVERVIEW
Since independence in 1968, Mauritius has developed from a low-income, agriculturally based economy to a middle-income diversified economy with growing industrial, financial, and tourist sectors. For most of the period, annual growth has been in the order of 5% to 6%. This remarkable achievement has been reflected in more equitable income distribution, increased life expectancy, lowered infant mortality, and a much-improved infrastructure. The economy rests on sugar, tourism, textiles and apparel, and financial services, and is expanding into fish processing, information and communications technology, and hospitality and property development. Sugarcane is grown on about 90% of the cultivated land area and accounts for 15% of export earnings. The government's development strategy centers on creating vertical and horizontal clusters of development in these sectors. Mauritius has attracted more than 32,000 offshore entities, many aimed at commerce in India, South Africa, and China. Investment in the banking sector alone has reached over $1 billion. Mauritius, with its strong textile sector, has been well poised to take advantage of the Africa Growth and Opportunity Act (AGOA). Mauritius' sound economic policies and prudent banking practices helped to mitigate negative effects from the global financial crisis in 2008-09. GDP grew more than 4% per year in 2010-11, and the country continues to expand its trade and investment outreach around the globe.
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Source : CIA |
Registered Name: SUNBEAM FIBRE PRODUCTS CC
Requested Name: SUNBEM
FIBRE PRODUCTS
Trade Names: SUNBEAM
STEEL
Physical Address: Main Clipriver Road, Elkenhof
1872,Johannesburg
Postal Address: P. o. Box 76093,
Wendywood2144,
Country: South
Africa
Phone: 27-11-9489918
Fax: 27-11-9489918
Email: None
Website: None
Legal Form: Close Corporation
Date Incorporated: 20/10/1986
Reg. Number: 1986/018859/23
Tax Number: 9471394156
Nominal Capital ZAR. 200,000
Subscribed Capital ZAR. 200,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Muhammed
Abdurrahman Mia CEO 50%
Mr. Mohsin
Yeyha Mia Director 50%
Full Names MUHAMMED
ABDURRAHMAN MIA
Status Active
ID / Passport No. 7210055124083
Member interest (%) 50
Member Contribution(ZAR) 100,000
Residential Address Plot
55, Kliprivier Rd, Eikenhof
Postal Address P.o.
Bo 311Eikenhof1872
Profession Chief
Executive Officer
Country of residence South
Africa
Full Names MOHSIN
YEYHA MIA
Status Active
ID / Passport No. 7106075071082
Member interest (%) 50
Member Contribution(ZAR) 100,000
Residential Address 64
Condor Ave, Ext 1 Lenasia1820
Postal Address 64
Condor Ave, Ext 1 Lenasia1820
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 dealers in fibre and steel products and related
facilities
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(30%) and 25-90 days (70%), invoices.
Main Customers: firms
and organizations
Employees: 80
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: South
Africa
Location: Owned
premises, 20,000 square feet,
Auditors: FISHER HOFFMAN STRIDE AND COMPANY CA(SA)
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 85,000,000
Bank Name: RMB
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.54.39 |
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UK Pound |
1 |
Rs.82.05 |
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Euro |
1 |
Rs.69.59 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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.