MIRA INFORM REPORT

Report Date :

15.04.2013

IDENTIFICATION DETAILS

Name :	SOUTH AFRICAN TELUGU SOCIETY (SATS) (PTY) LTD

Registered Office :	8 Waldorf 2, 11 Center Road, Morningside, Gauteng, 2196

Country :	South Africa

Date of Incorporation :	05.12.2012

Com. Reg. No.:	K2012/217356/07

Legal Form :	Private Company

Line of Business :	Import and retail trade of traditional telengu clothing and textiles

No. of Employees :	02

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
----	NB	New Business	----

Status :	New Company

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 – June 30^th, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

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 Unemployment remains high and outdated infrastructure has constrained growth.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

Subject Name	SOUTH AFRICAN TELUGU SOCIETY (SATS) (PTY)LTD
Country	South Africa
Subject Contact Person	RAMESH KUAAAR BONAM - Director
Assessment	This is a brand new business. On investigation contact was made with the director RAMESH KUMAR BONAM who assisted with the company information. It was stated that the subject does not have an auditor or bookkeeper. The business does not have a VAT or TAX number. The subject does not have any local dealings in South Africa, as such no trade references were made available. Please see the available information below.

Company Structure

Subsidiaries Information - No Information on Record

Employees
Number of Employees	2
1. Salaried employees	2
2. Waged employees
3. Permanent employees	2

Company Fleet Information - No Information on Record

Offices

Offices	Offices
Head Office Owned/ Rented	Owned
Owned by	Director
Type of Premises	Residential Property
Comment	The subject operates directly from the residential premises

Branch Information - No Information on Record

Management Overview

Organisation Chart

Level	Position	Name	Comment

1	DIRECTOR	KEERTHIKA PONUGUPATI

1	DIRECTOR	RAMESH KUMAR

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
50 % - RAMESH KUMAR	SOUTH AFRICAN TELUGU (SATS) (PTY) LTD
50 % - KEERTHIKA PONUGUPATI	SOUTH AFRICAN TELUGU (SATS) (PTY) LTD

Key Deals - No Information on Record

Trade References Information - No Information on Record

Adverse Information on Subject

Judgements - No information on record

Business Rescue - No Information on Record

Default Listing - No information on record

Notarial Bonds - No information on record

Bank Information

Bank	FIRST NATIONAL BANK
Branch	SANDTON CITY
Brach Code	250655
Type of Account	CURRENT
Account Name	SOUTH AFRICAN TELUGU (SATS) (PTY) LTD
Overdraft Facilities	None
Bank Code	P
Bank Comment	A bank code could not be obtained as the subjet declined to provide a bank account number

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	2
Average Age of Active Principals	32

Active Principals Principal - 1of 2 KEERTHIKA PONUGUPATI

Surname	PONUGUPATI
First Name	KEERTHIKA
Other Names	None
Marital Status	Married
ID Number	F9987394
Verified ID Number	No
Current Age	31
Designation	Director
Status	Active
Appointment Date	2012/12/05
Physical Address (at time of Appointment)	8 WALDORF 2, 11 CENTER ROAD, MORNINGSIDE, GAUTENG, 2196
Postal Address	8 WALDORF 2, 11 CENTER ROAD, MORNINGSIDE, GAUTENG, 2196
Current Tel Number	0115292661
Cell number	0784931397
Shareholding/Membership	50%

Principal's Adverse - No information on record

Business Information for KEERTHIKA PONUGUPATI

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
SOUTH AFRICAN TELUGU SOCIETY (SATS) (PTY)LTD	K2012/217356/07	In Business	4 Months	0	No

Principal's Previous Business Interests - No information on record

Principal's Deeds Information - No information on record

Principal - 2of 2 RAMESH BONAM

Surname	BONAM
First Name	RAMESH
Other Names	KUMAR
Marital Status	Married
ID Number	8008126298186
Verified ID Number	Yes
Current Age	33
Designation	Director
Status	Active
Appointment Date	2012/12/05
Physical Address (at time of Appointment)	UNIT 12 LIMNOS VILLAGE, PRETORIUS ROAD, VORNA VALLEY, GAUTENG, 1685
Postal Address	PO BOX 10948, VORNA VALLEY, MIDRAND, GAUTENG, 1686
Current Tel Number	0113207225
Cell number	0766508501
Shareholding/Membership	50%

Principal's Adverse - No information on record

Business Information for RAMESH BONAM

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
SOUTH AFRICAN TELUGU SOCIETY (SATS) (PTY)LTD	K2012/217356/07	In Business	4 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.54.44
UK Pound	1	Rs.83.78
Euro	1	Rs.71.33

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%)

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.

Registered Name	SOUTH AFRICAN TELUGU SOCIETY (SATS) (PTY)LTD
Trading as/ Division Name	None
Previous Name	None
Registration Number	K2012/217356/07
Registration Date	2012/12/05
Date Commenced Trading	2012-12-05
Age of Business	4 Months
History of Business	The subject was established in December 2012 and operations commenced immediately.
History of Principals	There are 2 active directors within the business.
Shareholders/Members/Partners of subject and % holding	50 % - KEERTHIKA PONUGUPATI, 50 % - RAMESH KUMAR BONAM
Authorised Share Capital	R1000.00
Issued Share Capital/Members Contribution	R 100.00
Status	In Business
Operations Assessment	Import and retail trade of traditional telengu clothing and textiles
Industry/ Customers	The public sector
Import	Yes
Import Countries	India
Major Industry Code / SICC	62323
Definition of Code	Retail trade, general outfitters, textiles, leather, travel accessories
Head Office Physical Address	8 WALDORF 2, 11 CENTER ROAD, MORNINGSIDE, GAUTENG, 2196
Head Office Postal Address	#8 WALDORF 2, 11 CENTER ROAD, MORNINGSIDE, GAUTENG, 2196
Current Tel Number	0117831610 / 0115292661
Cell Number	0766508501
Current Email Address	bonamramesh@gmail.com
Web Site Address	None