|
Report Date : |
12.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
YAGAMBARAM
PILLAY |
|
|
|
|
Registered Office : |
149
Palladium Street, Phoenix, Durban, Kwa-zulu Natal |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
01.07.1991 |
|
|
|
|
Com. Reg. No.: |
5104235560088 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Manufacturer
of Footwear |
|
|
|
|
No. of Employees : |
25 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 |
|
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 |
TRIPLE S
FOOTWEAR |
|
Country |
South
Africa |
|
Subject
Contact Person |
YAGAMBARAM
PILLAY - Owner |
|
Assessment |
This is
an established business. On investigation contact was made with MR. YAGAMBARAM
PILLAY the owner who assisted with most of the required information, he
however declined to assist with the financial information due to it being
confidential. The subject is meeting commitments timeously with suppliers.
Please see the available information on the subject below. |
|
Registered
Name |
YAGAMBARAM
PILLAY |
|
Trading
as/ Division Name |
TRIPLE S
FOOTWEAR |
|
Previous
Name |
None |
|
Date of
Name Change |
None |
|
Registration
Number |
5104235560088 |
|
Registration
Date |
1991/07/01 |
|
Date
Commenced Trading |
1991-07-01 |
|
Age of
Business |
22 Years |
|
History
of Business |
YAGAMBARAM
PILLAY trading as TRIPLE S FOOTWEAR commenced trading as a sole
proprietorship in 1991. |
|
History
of Principals |
There is
1 active principal within the company. |
|
Shareholders/Members/Partners
of subject and % holding |
100 % -
YAGAMBARAM PILLAY |
|
Authorised
Share Capital |
R 0.00 |
|
Issued
Share Capital/Members Contribution |
R 0.00 |
|
Status |
Active |
|
Operations
Assessment |
Manufacturer
Of Footwear |
|
Industry/
Customers |
The
general public and retail outlets |
|
Export |
Yes |
|
Export
Countries |
|
|
Import |
Unknown |
|
Import
Countries |
|
|
Major
Industry Code / SICC |
31700 |
|
Definition
of Code |
MANUFACTURE
OF FOOTWEAR |
|
Head
Office Physical Address |
149
Palladium Street, Phoenix, Durban, Kwa-zulu Natal |
|
Head
Office Postal Address |
149
Palladium Street, Phoenix, Durban, Kwa-zulu Natal |
|
Current
Tel Number |
0315072140 |
|
Cell
Number |
Unavailable |
|
Current
Fax Number |
0315076868 |
|
Current
Email Address |
|
|
Web Site
Address |
None |
|
Comments |
|
|
Company
Registered Name |
BAS |
|
Trading
Name |
Unavailable |
|
Registration
Number |
Unavailable |
|
Physical
Address |
Unavailable |
|
Postal
Address |
Unavailable |
|
Contact
Person |
ANDREW |
|
Contact
Number |
0314042288 |
|
Email |
Unavailable |
|
Principals |
|
|
Judgements
Against Subject |
Unavailable |
|
Judgements
Against Principals |
Unavailable |
|
Subject
Verified as Client |
No |
|
Practice
Number |
Unavailable |
|
VAT
Number |
Unavailable |
|
Tax
Number |
Unavailable |
|
BEE
Status |
Unavailable |
|
Financial
Year End |
Unavailable |
|
No of
years in Business |
Unavailable |
|
Website |
Unavailable |
|
Comment |
|
Previous
Auditors Information - No Information on Record
|
Vat
Number |
4950134526 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
|
|
Tax
Number |
Unavailable |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
Unavailable |
|
Comment |
|
|
Black
Economic Empowerment |
|
|
Status |
No |
|
Score |
|
|
Expire
Date |
|
|
BEE
Certificate Available |
No |
|
Comment |
The
subject does not have a BEE rating |
|
ISO
Status |
|
|
Type of
ISO Grade |
None |
|
ISO
Certificate |
|
|
ISO
Certificate Available |
|
|
Certified
by an Accredited Agent |
|
|
Comment |
|
|
Workman's
compensation |
|
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
|
Comment |
|
Subsidiaries
|
Subsidiary
Company |
There
are no reported subsidiaries |
|||
|
Shareholding |
|
|||
|
Registration
Number |
|
|||
|
Import /
Export |
|
|||
|
Comment |
|
|||
|
Employees |
||||
|
Number
of Employees |
25 |
|||
|
1.
Salaried employees |
25 |
|||
|
2. Waged
employees |
|
|||
|
3.
Permanent employees |
25 |
|||
|
4.
Casual employees |
|
|||
|
5.
Contracted employees |
|
|||
|
Comment |
|
|||
|
Company
Fleet |
||||
|
Company
Fleet |
No of
vehicles: |
Ownerd/Leased |
Value |
Outstanding
Balance |
|
Fleet
Operations |
|
|
|
|
|
The
Fleet is made up of |
2 |
|||
|
Comment |
|
|||
|
Cars |
1 Leased |
|||
|
Light
delivery Vehicles |
1 Leased |
|||
Offices
|
Offices |
Offices |
|
Head
Office Owned/ Rented |
Leased |
|
Rental
Company |
LYLDS
PILLAY'S TRUST |
|
Owned by |
N/A |
|
Value |
|
|
Bond |
|
|
Bank |
Unavailable |
|
Lease
Agreement |
Unavailable |
|
Lease
Expire Date |
Unavailable |
|
Type of Premises |
Offices
and a Factory |
|
Comment |
|
Branch
Information - No Information on Record
Organisation
Chart
|
Level |
Position |
Name |
Comment |
||||
|
|
|
|
|
|
|
|
|
1 Owner YAGAMBARAM
PILLAY
Company
Structure (Ownership)
Note: One
level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
100 % -
YAGAMBARAM PILLAY |
TRIPLE S
FOOTWEAR |
|
|
Key Deals
- No Information on Record
Trade
References
|
Trade
Reference nr |
Supplier |
Contact |
Surety
Value |
Notarial
Bonds |
Comment |
|
1 |
APCO |
0317051668 |
|
|
|
|
2 |
JOHN
AUTO |
0317014740 |
|
|
|
|
3 |
TOP LINE |
0314036242 |
|
|
|
|
4 |
GREEN
AWAYS |
0312089101 |
|
|
|
Trade References Detail
|
Nr |
Age of
Acc |
Credit
Limit |
Max
Credit |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
|
1 |
20 - 25
Years |
R100000.00 |
R100000 |
60 Days |
R 10000
- 80000 |
60 Days |
Excellent
Account |
|
2 |
3 Years |
R120000.00 |
R 95000 |
30 Days |
R 44000 |
30 Days |
Good Account |
|
3 |
15 Years |
R
70000.00 |
|
30 Days |
R 30000
- 40000 |
30 Days |
Good
Account |
|
4 |
|
|
|
|
|
|
Against
Company Policy To Provide Trade References |
Adverse
Information on Subject
Judgements
- No information on record
BusinessRescue
- No Information on Record
Default
Listing - No information on record
Notarial
Bonds - No information on record
Bank
Information
|
Bank |
FIRST
NATIONAL BANK |
|
Branch |
Phoenix
Plaza |
|
Brach
Code |
250655 |
|
Bank
Account Number |
56490007916 |
|
Type of
Account |
Current |
|
Account
Name |
Y PILLAY |
|
Overdraft
Facilities |
Yes - R
500 000 |
|
Bank
Code |
Awaiting
Bank Code |
|
Bank
Comment |
|
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 |
|
|
Average
Age of Active Principals |
|
Active
Principals Principal - 1of 1 YAGAMBARAM PILLAY
|
Surname |
PILLAY |
|
First
Name |
YAGAMBARAM |
|
Other
Names |
None |
|
Marital
Status |
Married |
|
ID
Number |
5104235560088 |
|
Verified
ID Number |
Yes |
|
Current
Age |
62 Years
3 Months |
|
Designation |
Owner |
|
Status |
Active |
|
Appointment
Date |
|
|
Physical
Address (at time of Appointment) |
BATONMORE
CRESCENT, 22 STANMORE, DURBAN, 4001 |
|
Postal
Address |
BATONMORE
CRESCENT, 22 STANMORE, DURBAN, 4001 |
|
Current
Tel Number |
0315072140 |
|
Cell
number |
0844079692 |
|
Shareholding/Membership |
100 % |
Principal's
Adverse - No information on record
Business
Information forYAGAMBARAM PILLAY Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
TRIPLE S
FOOTWEAR |
5104235560088 |
In
Business |
22 Years |
0 |
0 |
|
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.61.11 |
|
|
1 |
Rs.94.77 |
|
Euro |
1 |
Rs.81.54 |
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 |
|
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.