MIRA INFORM REPORT

Report Date :

20.12.2013

IDENTIFICATION DETAILS

Name :	PARS ARIA CC

Registered Office :	54 Woodmead Rental Park, Waterfall Crescent, Woodmead, 2128

Country :	South Africa

Date of Incorporation :	13.12.1988

Com. Reg. No.:	1988/034685/23

Legal Form :	Private Company

Line of Business :	Manufacturer of carpets, rugs and mats

No. of Employees :	03

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

Payment Behaviour :	Slow but Correct

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

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	PARS ARIA CC
Country	South Africa
Subject Contact Person	MOHAMMED RAEISI - Managing Member
Assessment	This is an established business. On investigation we made contact with MOHAMMED RAESI the managing member, who assisted with the required information. Trade references were however not made available as Mr. RAEISI is unable to assist. Please see the available information on the subject below.

Auditors information

Company Registered Name	AD VISSER
Trading Name	None
Registration Number	Unavailable
Physical Address	4 Bruno Drive, Florida North, 1752
Postal Address	PO Box 138, BERGBRON, 1712
Contact Person	ANTON
Contact Number	0116726365
Email	antonvis@mweb.co.za
Judgements Against Subject	Unavailable
Judgements Against Principals	Unavailable
Subject Verified as Client	Yes
Practice Number	006850
VAT Number	Unavailable
Tax Number	Unavailable
BEE Status	Unavailable
Financial Year End	February
No of years in Business	Unavailable
Website	Unavailable

Previous Auditors Information - No Information on Record

Tax information

Vat Number	4060207737
Status	ACTIVE
Tax Number	9262295844
Financial Year End	February

Black Economic Empowerment Information - No Information on Record

ISO Information - No Information on Record

Workman's compensation

Registered	Yes
Compliance Certified	Yes

Company Structure

Subsidiaries Information - No Information on Record

Employees
Number of Employees	3
1. Salaried employees	3
2. Waged employees	--
3. Permanent employees	3
Company Fleet
Company Fleet	No of vehicles:	Owned/Leased	Value	Outstanding Balance
Fleet Operations
The Fleet is made up of	1
Comment
Light delivery Vehicles	1	Leased

Offices

Offices	Offices
Head Office Owned/ Rented	Leased
Rental Company	GROWTH POINT
Type of Premises	Shopping complex

Branch Information - No Information on Record

Management Overview

Organisation Chart

Level	Position	Name	Comment
1	Member	MOHAMMED RAEISI

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
100 % - MOHAMMED RAEISI	PARS ARIA CC

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	NEDBANK
Branch	Rivonia
Brach Code	198765
Bank Account Number	1969128852
Type of Account	Current
Account Name	PARS ARIA CC
Overdraft Facilities	Yes
Bank Code	C - For R 100 000
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

Principals

Number of Principals	1
Average Age of Active Principals	50
Active Principals Principal - 1of 1 MOHAMMED RAEISI
Surname	RAEISI
First Name	MOHAMMED
Other Names	None
Marital Status
ID Number	6307235319186
Verified ID Number	Yes
Current Age	50 Years 5 Months
Designation	Managing Member
Status	Active
Appointment Date
Physical Address (at time of Appointment)	136 THE CREST, NAIVASHA ROAD, SUNNINGHILL, 2191
Postal Address	PO Box 5485, RIVONIA, 2128
Current Tel Number	0118042743
Cell number	0833819250
Shareholding/Membership	100%

Principal's Adverse - No information on record

Business Information for MOHAMMED RAEISI

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.62.38
UK Pound	1	Rs.102.15
Euro	1	Rs.85.29

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	PARS ARIA CC
Trading as/ Division Name	ORIENTAL RUGS
Previous Name	Unavailable
Date of Name Change	Unavailable
Registration Number	1988/034685/23
Registration Date	1988/12/13
Date Commenced Trading	1988-12-13
Age of Business	25 Years
History of Business	The subject commenced trading as a new business in 1998.
History of Principals	There is 1 active member within the business.
Shareholders/Members/Partners of subject and % holding	100 % - MOHAMMED RAEISI
Status	In Business
Operations Assessment	The subject operates as a wholesaler and retailer of carpets and rugs.
Industry/ Customers	Private and public companies
Export	Unknown
Import	Yes
Import Countries	India
Major Industry Code / SICC	31220
Definition of Code	Manufacture of carpets, rugs and mats
Head Office Physical Address	54 Woodmead Rental Park, Waterfall Crescent, Woodmead, 2128
Head Office Postal Address	P 0 BOX 5485, RIVONIA, 2128
Current Tel Number	0118042743
Cell Number	0833819250
Current Fax Number	0866592788
Current Email Address	info@oriental-rugs.co.za
Web Site Address	www.oriental-rugs.co.za