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Report Date : |
06.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
FANCYFREE TRADING 1029 CC |
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|
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Registered Office : |
1 Sydney Drive,
Westville, 3624 |
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Country : |
South Africa |
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Date of Incorporation : |
18.09.2007 |
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Com. Reg. No.: |
B2007/185480/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Not Available |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 and a stock exchange that is the 15th largest in
the world. Even though the country possesses modern infrastructure that support
a relatively efficient distribution of goods to major urban centers throughout
the region, some components retard growth. The economy began to slow in the
second half of 2007 due to an electricity crisis. 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. Subsequently, the global financial crisis
reduced commodity prices and world demand. GDP fell nearly 2% in 2009 but has
recovered since then. Unemployment, poverty, and inequality remain a challenge,
with official unemployment at nearly 25% of the work force. State power
supplier Eskom has built two new power stations and installed new power demand
management programs to improve power grid reliability. South Africa's economic
policy has focused on controlling inflation, however, the country has had
significant budget deficits that restrict its ability to deal with pressing
economic problems. The current government faces 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 |
FANCYFREE TRADING 1029 CC |
|
Country |
SOUTH AFRICA |
|
Subject Contact Person |
ROSS NEVILLE WALTERS - Managing Member |
|
Assessment |
This is an established business. On investigation contact
was made with the managing member, ROSS NEVILLE WALTERS. An email was
forwarded to ross@plastimart.co.za
as requested. To date, no response has been received. At present we do not
possess sufficient information to compile an assessment. Please see the
available information on the subject below. |
|
Registered Name |
FANCYFREE TRADING 1029 CC |
|
Trading as/ Division Name |
R AND A RECYCLERS |
|
Previous Name |
None |
|
Date of Name Change |
None |
|
Registration Number |
B2007/185480/23 |
|
Registration Date |
2007/09/18 |
|
Date Commenced Trading |
2007-09-18 |
|
Age of Business |
5 Years 11 Months |
|
History of Business |
FANCYFREE TRADING 1029 CC trading as R AND A RECYCLERS was
registered in September 2007. |
|
History of Principals |
There are two active members within the business. |
|
Shareholders/Members/Partners of subject and % holding |
60 % - ROSS NEVILLE WALTERS, 40 % - IONE ADELE WALTERS |
|
Authorised Share Capital |
R0.00 |
|
Issued Share Capital/Members Contribution |
R0.00 |
|
Status |
In Business |
|
Operations Assessment |
The operations of the business could not be confirmed |
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Industry/ Customers |
Unavailable |
|
Export |
Unknown |
|
Import |
Unknown |
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Major Industry Code / SICC |
9000 |
|
Definition of Code |
Other activities not adequately defined. |
|
Head Office Physical Address |
1 SYDNEY DRIVE, WESTVILLE, 3624 |
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Head Office Postal Address |
1 SYDNEY DRIVE, WESTVILLE, 3624 |
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Current Tel Number |
0312623153 |
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Cell Number |
0832748703 |
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Current Fax Number |
0865031178 |
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Current Email Address |
|
|
Web Site Address |
None |
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Company Registered Name |
CASSIDY AND ASSOCIATES CC |
|
Trading Name |
None |
|
Registration Number |
B1996/059905/23 |
|
Physical Address |
271 KENYON HOWDEN RD,MONTCLAIR,DURBAN, 4004 |
|
Postal Address |
P 0 BOX 33024, MONTCLAIR, 4061 |
|
Contact Person |
KEVIN CASSIDY |
|
Contact Number |
0314629292 |
|
Email |
Unavailable |
|
Principals |
1 |
|
Judgements Against Subject |
No information found on file |
|
Judgements Against Principals |
No information found on file |
|
Subject Verified as Client |
Yes |
|
Practice Number |
121984N |
|
VAT Number |
4770163048 |
|
Tax Number |
9200096205 |
|
BEE Status |
Unavailable |
|
Financial Year End |
February |
|
No of years in Business |
17 Years |
|
Website |
None |
Previous
Auditors Information - No Information on Record
|
Vat Number |
4860250606 |
|
Status |
ACTIVE |
|
Vat Liable Date |
2008/06/01 |
|
Tax Number |
9049215198 |
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Tax Clearance Expire Date |
|
|
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
Organisation
Chart
|
Level |
Position |
Name |
Comment |
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|
|||
|
1 |
Managing Member |
ROSS NEVILLE WALTERS |
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|
|||
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2 |
Member |
IONE ADELE WALTERS |
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Company
Structure (Ownership)
Note: One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
60 % - ROSS NEVILLE
WALTERS |
FANCYFREE TRADING 1029 CC |
|
|
|
40 % - IONE ADELE
WALTERS |
FANCYFREE TRADING 1029 CC |
|
|
Key Deals -
No Information on Record
Trade
References Information - No Information on Record
Judgements
|
Judgements |
NONE |
||||
|
Possible Judgements |
NONE |
||||
|
Civil Court |
0 |
||||
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RDs |
0 |
||||
|
Comment |
No Information on Record |
||||
|
Business Rescue |
|||||
|
Date registered |
Business rescue practitioner |
Contact Information |
Details |
Comment |
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|
|
No information found on file |
No Information on Record |
No Information on |
No Information on |
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|
|
|
Record |
Record |
|
Default
Listings
|
Date |
Details |
Comment |
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|
No information found on file |
No Information on Record |
|
Notarial Bonds |
||
|
Date |
Details |
Comment |
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|
No information found on file |
No Information on Record |
|
Bank |
NEDBANK |
|
Branch |
Westville |
|
Brach Code |
198765 |
|
Bank Account Number |
Unavailable |
|
Type of Account |
Unavailable |
|
Account Name |
FANCYFREE TRADING 1029 CC |
|
Overdraft Facilities |
Unavailable |
|
Bank Code |
P |
|
Bank Comment |
A Bank code could not be obtained as the subject 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
|
Number of Principals |
2 |
|
Average Age of Active Principals |
49 |
|
Active Principals Principal - 1of 2 IONE WALTERS |
|
|
Surname |
WALTERS |
|
First Name |
IONE |
|
Other Names |
ADELE |
|
Marital Status |
Married |
|
ID Number |
4909080072083 |
|
Verified ID Number |
Yes |
|
Current Age |
63 Years 11 Months |
|
Designation |
Member |
|
Status |
Active |
|
Appointment Date |
2008/08/12 |
|
Physical Address (at time of Appointment) |
1 SYDNEY DRIVE, WESTVILLE, 3629 |
|
Postal Address |
1 SYDNEY DRIVE, WESTVILLE, 3629 |
|
Current Tel Number |
0312623153 |
|
Cell number |
0834684685 |
|
Shareholding/Membership |
40% |
Principal's
Adverse - No information on record
Business
Information forlONE WALTERS Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
FANCYFREE TRADING 1029 CC |
B2007/185480/23 |
In Business |
6 Years 6 Months |
0 |
No |
|
|
IN LINE OFFICE FURNITURE CC |
B1997/055153/23 |
In Business |
16 Years 4 Months |
0 |
No |
|
|
PROVIDENCE REST HOME |
M2002/005111/08 |
In Business |
11 Years 11 Months |
0 |
No |
|
Principal Previous Business Interest
Average
Age of Previous Business 22 Years
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
BOUTIQUE
WAREHOUSE CC |
B1991/005566/23 |
Deregistration
Final |
22 Years 10
Months |
0 |
No |
|
|
Principal - 2of 2 ROSS WALTERS |
|
|
Surname |
WALTERS |
|
First Name |
ROSS |
|
Other Names |
NEVILLE |
|
Marital Status |
Married |
|
ID Number |
7910265188089 |
|
Verified ID Number |
Yes |
|
Current Age |
33 Years 10 Months |
|
Designation |
Managing Member |
|
Status |
Active |
|
Appointment Date |
2008/08/12 |
|
Physical Address (at time of Appointment) |
14 CHURCHILL ROAD, LA LUCIA, KWAZULU-NATAL, 4319 |
|
Postal Address |
1 SYDNEY DRIVE, WESTVILLE, 3629 |
|
Current Tel Number |
0112624775 |
|
Cell number |
0832748703 |
|
Shareholding/Membership |
60% |
Principal's
Adverse - No information on record
Business
Information forROSS WALTERS Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
FANCYFREE
TRADING 1029 CC |
B2007/185480/23 |
In
Business |
6 Years
6 Months |
0 |
No |
|
|
PLASTIAAART
(PTY) LTD |
K2011/106142/07 |
In
Business |
2 Years
2 Months |
0 |
No |
|
Principal's
Deeds Information - No information on record
Principal
Previous Business Interest
Average
Age of Previous Business
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
|
|
|
|
|
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.82 |
|
|
1 |
Rs.92.97 |
|
Euro |
1 |
Rs.80.73 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.