MIRA INFORM REPORT

 

 

Report Date :

12.12.2013

 

IDENTIFICATION DETAILS

 

Name :

PREMIER HOUSEWARES CC

 

 

Registered Office :

16 Mopedi Road Sebenzaedenglen1609

 

 

Country :

South Africa

 

 

Date of Incorporation :

07.02.1995

 

 

Com. Reg. No.:

1995/004149/23

 

 

Legal Form :

Close Corporation

 

 

Line of Business :

The subject main operation is wholesaling of general essential household products ( Kitchen, cleaning and bathroom textiles; Scourers; Brushware;Plasticware)

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

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

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. 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

Company name

 

Subject Name

PREMIER HOUSEWARES CC

Country

South Africa

Subject Contact Person

HAROLD LEON KAHN- Owner

Assessment

This is a well-established business. On investigation we made contact with HAROLD LEON KAHN the owner, who declined to assist with the required information at present, however stated he could assist in January. Please see the available information on the subject below.

 

 

Company information

 

Registered Name

PREMIER HOUSEWARES CC

Trading as/ Division Name

 

Previous Name

 

Date of Name Change

 

Registration Number

1995/004149/23

Registration Date

1995/02/07

Date Commenced Trading

1995-02-07

Age of Business

 

History of Business

The subject was established in 1995

History of Principals

There is 1 active principles within the subject

Shareholders/Members/Partners of subject and % holding

100% - HAROLD LEON KAHN

Authorised Share Capital

 

Issued Share Capital/Members Contribution

 

Status

In Business

Operations Assessment

The subject main operation is wholesaling of general essential household products ( Kitchen, cleaning and bathroom textiles; Scourers; Brushware;Plasticware)

Industry/ Customers

Public and Private Companies, mainly cleaning companies...

Export

 

Export Countries

 

Import

 

Import Countries

 

Major Industry Code / SICC

61399

Definition of Code

Wholesale trade in other household goods n.e.c

Head Office Physical Address

16 Mopedi Road SebenzaEDENGLEN1609

Head Office Postal Address

PO Box 10324 EDENGLEN 1613

Current Tel Number

0116096536

Cell Number

 

Current Fax Number

0116096215

Current Email Address

harold@premierhousewares.co.za

Web Site Address

www.premierhousewares.co.za

Comments

 

 

 

Auditor’s information

 

Company Registered Name

HARALAMBOUS AND ASSOCIATES

Trading Name

 

Registration Number

2007/251481/23

Physical Address

11 Swemmer Road Silvamonte SANDTON2192

Postal Address

PO Box 2146 LYNDHURST2146

Contact Person

JOANNA NATALIA HARALAMBOUS

Contact Number

0112640489

Email

 

Principals

2

Judgements Against Subject

 

Judgements Against Principals

 

Subject Verified as Client

Yes

Practice Number

 

VAT Number

4160220986

Tax Number

 

BEE Status

 

Financial Year End

February

No of years in Business

 

Website

 

Comment

 

 

Previous Auditors Information - No Information on Record

 

 

Tax information

 

Vat Number

4320149430

Status

ACTIVE

Vat Liable Date

1995/03/01

Tax Number

9483581840

Tax Clearance Expire Date

 

Financial Year End

 

Comment

 

 

Black Economic Empowerment Information    - No Information on Record

ISO Information                                               - No Information on Record Work Mans

Information                                                      - No Information on Record

 

 

Company Structure

 

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

Management Overview

 

Organisation Chart

 

Level

Position

Name

Comment

 

1

Owner

HAROLD LEON KAHN

 

 

Company Structure Information - No Information on Record

 

Note: One level up and all levels down

 

Key Deals                                - No Information on Record

Trade References Information - No Information on Record

 

 

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                                 - No Information on

Record 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

1

Average Age of Active Principals

57

Active Principals

Principal - 1 of 1

HAROLD KAHN

Surname

KAHN

First Name

HAROLD

Other Names

LEON

Marital Status

Married

ID Number

5607285053085

Verified ID Number

Yes

Current Age

57 Years 5 Months

Designation

Owner

Status

Active

Appointment Date

 

Physical Address (at time of Appointment)

16 Mopedi Road Sebenza EDENGLEN1609

Postal Address

PO Box 10324 EDENGLEN 1609

Current Tel Number

0116096536

Cell number

 

Shareholding/Membership

100%

 

Principal's Adverse      - No information on record

 

Business Information for HAROLD KAHN Principal's Current

 

Business Interests                                            - No information on record

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.61.33

UK Pound

1

Rs.100.79

Euro

1

Rs.84.37

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.