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Report Date : |
11.12.2013 |
IDENTIFICATION DETAILS
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Name : |
AKILA TRADING (PTY)LTD |
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Registered Office : |
857 Voortrekker Road Maitland Cape Town 7405 |
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Country : |
South Africa |
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Date of Incorporation : |
30.09.1999 |
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Com. Reg. No.: |
1999/022012/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Wholesaler and distributor of food & agricultural commodities such as rice, sugar, popcorn, sago seeds, beans and pulses, groundnuts, whole and powdered spices and dehydrated edibles such as coconut, onion, garlic. |
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No. of Employees : |
16 |
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 : |
No Complaints |
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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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
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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 |
AKILA TRADING (PTY)LTD |
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Country |
South Africa |
|
Enquiry Terms |
30 days |
|
Account Review |
Recommended Every 6 Months |
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Subject Contact Person |
DESHBIRI BHANDARI |
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Assessment |
This is a well-established business. On investigation we made contact with DESHBIRI BHAANDARI the managing director, who assisted, however declined the financial information. The subject is meeting commitments timeously with suppliers. Please see the available information on the subject below. |
|
Registered Name |
AKILA TRADING (PTY)LTD |
|
Trading as/ Division Name |
None |
|
Previous Name |
None |
|
Date of Name Change |
N/A |
|
Registration Number |
1999/022012/07 |
|
Registration Date |
1999/09/30 |
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Date Commenced Trading |
1999-09-30 |
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Age of Business |
14 Years 3 Months |
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History of Business |
The business was established in 1999 |
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History of Principals |
There is 1 active principal within the subject |
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Shareholders/Members/Partners of subject and % holding |
100%- DESHBIRI BHANDARI |
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Authorised Share Capital |
R 0.00 |
|
Issued Share Capital/Members Contribution |
R 0.00 |
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Status |
In Business |
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Operations Assessment |
Wholesaler and distributor of food & agricultural commodities such as rice, sugar, popcorn, sago seeds, beans and pulses, groundnuts, whole and powdered spices and dehydrated edibles such as coconut, onion, garlic. |
|
Industry/ Customers |
Companies Trading in rice and sugar |
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Export |
Yes |
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Export Countries |
India |
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Import |
Yes |
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Import Countries |
India |
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Major Industry Code / SICC |
61221 |
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Definition of Code |
Wholesale trade in foodstuffs |
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Head Office Physical Address |
857 Voortrekker Road Maitland CAPE TOWN 7405 |
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Head Office Postal Address |
P O BOX 306 GATESVILLE 7766 |
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Current Tel Number |
0215917030 |
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Current Fax Number |
0215917703 |
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Current Email Address |
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Web Site Address |
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Company Registered Name |
ALBERTYN |
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Trading Name |
DCA CHARTERED ACCOUNTANTS (SA) |
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Registration Number |
5608085111081 (ID no) |
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Physical Address |
BROAD ROAD MEDICAL CENTREWYNBERG7800 |
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Postal Address |
PO Box 46980 Glosderry CAPE TOWN 7702 |
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Contact Person |
Alby van de Klerk |
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Contact Number |
0217612964 |
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Email |
|
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Principals |
1 |
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Subject Verified as Client |
Yes |
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Practice Number |
901369 |
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VAT Number |
4830210862 |
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Tax Number |
Unavailable |
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BEE Status |
Unavailable |
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Financial Year End |
Unavailable |
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No of years in Business |
6 Years 9 Months |
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Website |
Unavailable |
Previous Auditors Information - No Information on Record
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Vat Number |
4070190741 |
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Status |
ACTIVE |
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Vat Liable Date |
2000/10/01 |
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Tax Number |
9384051034 |
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Tax Clearance Expire Date |
2013/11/09 |
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Financial Year End |
February |
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Registered |
Yes |
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Compliance Certified |
Yes |
Subsidiaries
Information - No Information on Record
Employees
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Number of Employees |
16 |
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1. Salaried employees |
16 |
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2. Waged employees |
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3. Permanent employees |
16 |
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Company Fleet |
||||
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Company Fleet |
No of vehicles: |
Owned/Leased |
Value |
Outstanding Balance |
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Fleet Operations |
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The Fleet is made up of |
6 |
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Comment |
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Trucks |
3 |
Owned |
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Cars |
3 |
Owned |
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Offices
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Offices |
Offices |
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Head Office Owned/ Rented |
Leased |
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Rental Company |
DB BUNDARY FAMILY TRUST |
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Lease Agreement |
Annual |
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Type of Premises |
Commercial warehouse and store |
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Branch Information |
||
|
Branches Names |
Country |
Province |
|
Akila Trading Durban (Pty) Ltd |
South Africa |
KWA-ZULU NATAL |
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Branch Detail
Information |
||
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Branches Owned/ Rented |
Leased |
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Rental Company |
ZENTOR PROPERTIES |
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|
Type of Premises |
Office Blocks |
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Organisation Chart
|
Level |
Position |
Name |
Comment |
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1 |
Managing Director |
DESHBIR SINGH BHANDARI |
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Company Structure Information - No Information on Record
Note:
One level up and all levels down
Key Deals - No
Information on Record
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Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
|
1 |
JAS FORWARDING |
0313687455 |
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2 |
DRAGON FRIGHT |
0314808600 |
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3 |
CYCLING WAREHOUSING |
0314624502 |
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Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
2 Years |
R1000000.00 |
R1000000 |
30 Days |
R1000000 |
30 Days |
Good account |
|
2 |
5 Years |
R1000000.00 |
R 900000 |
30 Days |
R 500000 |
30 Days |
Good account |
|
3 |
15 Years |
|
R150000 |
30 Days |
R120000 |
30 Days |
Good account,
however the subject has an open credit limit with the supplier. |
Judgements - No
information on record
Business Rescue - No
Information on Record
Default Listing - No
information on record
Notarial Bonds - No
information on record
|
Bank |
STANDARD BANK |
|
Branch |
CONSTACIA |
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Brach Code |
051001 |
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Bank Account Number |
030552176 |
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Type of Account |
CURRENT |
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Account Name |
AKILA TRADING (PTY)LTD |
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Overdraft Facilities |
Yes. |
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Bank Code |
C FOR R1000000 |
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Bank Comment |
The subject's bankers consider them good for all business normal
engagements |
Bank Code History -
No Information on Record
Previous Bank Account
Information - No Information on Record
Deeds Information -
No information on record
|
Number of Principals |
1 |
|
Average Age of Active Principals |
43 |
Active Principals
Principal - 1 of 1 DESHBIR BHANDARI
|
Surname |
BHANDARI |
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First Name |
DESHBIR |
|
Other Names |
SINGH |
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ID Number |
7008090000000 |
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Verified ID Number |
No |
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Current Age |
43 Years 4 Months |
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Designation |
BUSINESSMAN |
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Status |
Active |
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Appointment Date |
2006/10/12 |
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Physical Address (at time of Appointment) |
7 DUCKITT AVENUE CONSTANTIA 7800 |
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Postal Address |
P O BOX 306 GATESVILLE 7766 |
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Current Tel Number |
0215917030 |
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Shareholding/Membership |
100% |
Principal's Adverse -
No information on record
Business Information
for DESHBIR BHANDARI
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
AKILA TRADING (PTY)LTD |
M1999/022012/07 |
In Business |
14 Years 2 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.61.21 |
|
UK Pound |
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.84.15 |
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 |
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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 |
|
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 |
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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 |
|
<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.