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Report Date : |
02.02.2013 |
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Tel. No.: |
+271191855270 |
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Fax No.: |
+27119185271 |
IDENTIFICATION DETAILS
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Name : |
THUTHUKA WELDING PRODUCTS CC |
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Registered Office : |
7, Dormehl, Street, Anderboltboksburg North |
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Country : |
South Africa |
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Date of Incorporation : |
14.04.2008 |
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Com. Reg. No.: |
2008/080441/23 South Africa |
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Legal Form : |
Close Corporation |
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Line of Business : |
Manufactures, repairs, stocks and supplies a wide range of welding consumables and safety equipment. |
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No. of Employees : |
20 employees. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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; a stock exchange that is the 18th largest in the world; and modern infrastructure supporting a relatively efficient distribution of goods to major urban centers throughout the region. Growth was robust from 2004 to 2007 as South Africa reaped the benefits of macroeconomic stability and a global commodities boom but began to slow in the second half of 2007 due to an electricity crisis and the subsequent global financial crisis' impact on commodity prices and demand. GDP fell nearly 2% in 2009 but recovered in 2010-11. Unemployment remains high and outdated infrastructure has constrained growth. 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. Daunting economic problems remain from the apartheid era - especially poverty, lack of economic empowerment among the disadvantaged groups, and a shortage of public transportation. South Africa''s economic policy is fiscally conservative focusing on controlling inflation and attaining a budget surplus. The current government largely follows these prudent policies but must contend with the impact of the global crisis and is facing 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
Registered Name: THUTHUKA WELDING PRODUCTS CC
Requested Name: THUTHUKA
WELDING PRODUCTS CC R
Other Names: None
Physical Address: 7, Dormehl, Street,
Anderboltboksburg North
Postal Address: P. o. Box 6009, Dunswart, 1508
Country: South
Africa
Phone: +27119185270
Fax: +27119185271
Email: thuthuka@thuthukawelding.co.za
eric.fisher@thuthukawelding.co.za
Website: www.thuthukawelding.co.za
Financial Index as of December 2013 shows subject firm with a medium
risk of credit. However, bank and credit information obtained reveal a history
of prompt payments.
Legal Form: Close Corporation
Date Incorporated: 14/04/2008
Reg. Number: 2008/080441/23
South Africa
Tax number 9774635149
Nominal Capital ZAR. 100
Subscribed Capital ZAR. 100
Subscribed Capital is Subscribed in the
following form:
Position Shares
Mark Ablett Director 80
Matthew
Dudley Director 20
Full Names Matthew
Dudley
Status Active
Date of Birth 13/01/1964
ID / Passport No. 6401135018087
Member interest (%) 20%
Member Contribution(ZAR) 20
Residential Address 8
Louw Street Lakefield Benoni 1501
Postal Address Po
Box 6009 Dunswart 1508
Country of residence South
Africa
Full Names Mark
Ablett
Status Active
Date of Birth 17/03/1961
ID / Passport No. 6103175015086
Member interest (%) 80%
Member Contribution(ZAR) 80
Residential Address 9
Coleridge Street Farrarmere Benoni 1501
Postal Address Po
Box 6009 Dunswart 1508
Country of residence South
Africa
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
79 West Street,
Kempton Park Branches of the firm
Registered to manufactures, repairs, stocks and supplies a wide range of
welding consumables and safety equipment.
Imports: Middle
East
Exports: Africa
(< 5%)
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 20
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: South
Africa
Location: Rented
premises, 3,500 square feet,
Auditors: ORKIN BROWN AND ASSOCIATES
Insurance Brokers: Information not available.
Currency Reported: South African Rand (ZAR.)
Approx. Ex. Rate: 1 US Dollar = 17.46 South African Rand
Fiscal Year End: December
31, 2012
Inflation:
According
to information given by independent sources, the inflation at December
31st, 2012 was of 13%.
Financial Information not Submitted
Profit and Loss (expressed in ZAR.)
2012
Sales 62,000,000
Bank Name: First Rand Bank
Branch: South Africa
Comments: None
Experiences: Good
None
This information was
obtained from outside sources other than the subject company itself and
confirmed the above subject.
Company was registered on 08/05/2003 as THUTHUKA WELDING PRODUCTS PTY
LTD a limited corporation registered under number 2003/010240/07 and converted
to a close corporation under
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.32 |
|
|
1 |
Rs.84.60 |
|
Euro |
1 |
Rs.72.63 |
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 |
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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.