|
Report Date : |
25.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
ADESSO HOME
STORE (PTY)LTD |
|
|
|
|
Registered Office : |
2A
Kramer Road, Kramerville, Sandton, Johannesburg |
|
|
|
|
Country : |
South
Africa |
|
|
|
|
Date of Incorporation : |
14.03.1973 |
|
|
|
|
Com. Reg. No.: |
M1973/003224/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Wholesale
trade in household furniture, requisites and appliances |
|
|
|
|
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 – 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 |
|
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; 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 Unemployment remains high and outdated infrastructure has constrained growth.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
|
Subject
Name |
ADESSO
HOME STORE (PTY)LTD |
|
Country |
South
Africa |
|
Subject
Contact Person |
FRANCIS
PALMER - Director |
|
Assessment |
This is an
established business. On investigation contact was made with the director MR.
FRANCIS PALMER who declined to assist with any information on the subject.
MR. PALMER stated that he would not divulge any information until the name of
the principal enquirer is made available. Please see the available
information on the subject below. |
|
Registered
Name |
ADESSO
HOME STORE (PTY)LTD |
|
Trading
as/ Division Name |
ADESSO
HOME STORE |
|
Previous
Name |
None |
|
Date of
Name Change |
May 22
2001 12:00AM |
|
Registration
Number |
M1973/003224/07 |
|
Registration
Date |
1973/03/14 |
|
Date
Commenced Trading |
1973-03-14 |
|
Age of
Business |
39 Years
11 Months |
|
History
of Business |
The
subject was established as a new business in 1973. |
|
History
of Principals |
There
are 2 active directors within the company. |
|
Shareholders/Members/Partners
of subject and % holding |
100 % -
FRANCIS PALMER |
|
Authorised
Share Capital |
R 0.00 |
|
Issued
Share Capital/Members Contribution |
R 0.00 |
|
Status |
Conversion
CO/CC or CC/CO |
|
Operations
Assessment |
The
subject wholesales household accessories. |
|
Industry/
Customers |
The
general public and retailers. |
|
Export |
Yes |
|
Export
Countries |
|
|
Import |
Yes |
|
Import
Countries |
|
|
Major Industry
Code / SICC |
61391 |
|
Definition
of Code |
Wholesale
trade in household furniture, requisites and appliances |
|
Head
Office Physical Address |
2A
Kramer Road, Kramerville, Sandton, Johannesburg, SOUTH AFRICA |
|
Head
Office Postal Address |
P.O. Box
185, Wendywood, 2144 |
|
Current
Tel Number |
0114441479 |
|
Cell
Number |
0825589868 |
|
Current
Fax Number |
|
|
Current
Email Address |
|
|
Web Site
Address |
|
|
Comments |
|
|
Company
Registered Name |
HORWATH
LEVETON BONER CONSULTING (PTY)LTD |
|
Trading
Name |
None |
|
Registration
Number |
M1987/001944/07 |
|
Physical
Address |
3
SANDOWN VALLEY CRESCENT, SANDOWN, 2196 |
|
Postal Address |
P O BOX
652550, BENMORE, 2010 |
|
Contact
Person |
PETER |
|
Contact
Number |
0112178000 |
|
Email |
|
|
Principals |
2 |
|
Judgements
Against Subject |
|
|
Judgements
Against Principals |
|
|
Subject
Verified as Client |
Yes |
|
Practice
Number |
|
|
VAT
Number |
|
|
Tax
Number |
9355119844 |
|
BEE
Status |
|
|
Financial
Year End |
February |
|
No of
years in Business |
|
|
Website |
|
|
Comment |
|
|
Previous
Auditors |
|
|
Company
Name Phone
Number Time with previous auditors
Comment |
|
|
LEVETON
BONER HORWATH 16 |
|
|
Vat
Number |
4570119935 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
1991/09/30 |
|
Tax
Number |
9257122847 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
February |
|
Comment |
|
Black
Economic Empowerment Information - No Information on Record
ISO
Information - No Information on Record
Work Mans
Information - No Information on Record
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 |
Organisation
Chart
|
Level |
Position |
Name |
Comment |
1 I Director I FRANCIS
1 I Director I ANNE PALMER
Company
Structure (Ownership)
Note: One
level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
100 % -
FRANCIS PALMER |
ADESSO
HOME STORE (PTY) LTD |
|
|
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
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 |
2 |
|
Average
Age of Active Principals |
56 |
|
Active
Principals Principal - 1of 2 ANNE PALMER |
|
|
Surname |
PALMER |
|
First
Name |
ANNE |
|
Other
Names |
None |
|
Marital
Status |
Married |
|
ID
Number |
5503040046086 |
|
Verified
ID Number |
Yes |
|
Current
Age |
58 |
|
Designation |
SHOWROOM
MANAGER |
|
Status |
Active |
|
Appointment
Date |
2001/05/23 |
|
Physical
Address (at time of Appointment) |
30 BOEKENHOUT
CRESCENT, RIVERCLUB, 2144 |
|
Postal
Address |
P O BOX
185, WENDYWOOD, 2144 |
|
Current
Tel Number |
0114441479 |
|
Cell
number |
|
|
Shareholding/Membership |
0.0000 |
Principal's
Adverse - No information on record
Business Information
forANNE PALMER
Principal
Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
DATABASE
SOLUTIONS CC |
B1992/011758/23 |
In
Business |
21 Years
9 Months |
0 |
No |
|
|
ADESSO
HOME STORE (PTY)LTD |
M1973/003224/07 |
Conversion
CO/CC or CC/CO |
40 Years
4 Months |
0 |
No |
|
Principal
Previous Business Interest
Average
Age of Previous Business I 15 Years
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
PLACE
DIRECT CC |
B1992/011759/23 |
In
Business |
21 Years
9 Months |
0 |
No |
|
|
ADESSO
WHOLESALE CC |
B2004/105265/23 |
In
Business |
9 Years
9 Months |
0 |
No |
|
Principal's
Deeds Information - No information on record
|
Principal
- 2of 2 FRANCIS PALMER |
|
|
Surname |
PALMER |
|
First
Name |
FRANCIS |
|
Other
Names |
None |
|
Marital
Status |
Married |
|
ID
Number |
5907105883186 |
|
Verified
ID Number |
Yes |
|
Current
Age |
54 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment
Date |
1996/10/15 |
|
Physical
Address (at time of Appointment) |
30
BOEKENHOUT CRESCENT, RIVERCLUB, 2144 |
|
Postal
Address |
PO BOX
185, WENDYWOOD, 2144 |
|
Current
Tel Number |
0114441479 |
|
Cell number |
0721452698 |
|
Shareholding/Membership |
100 % |
Principal's
Adverse - No information on record
Business
Information forFRANCIS PALMER Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
PLACE
DIRECT CC |
B1992/011759/23 |
In
Business |
21 Years
9 Months |
0 |
No |
|
|
ADESSO WHOLESALE
CC |
B2004/105265/23 |
In
Business |
9 Years
9 Months |
0 |
No |
|
|
ADESSO
HOME STORE (PTY)LTD |
M1973/003224/07 |
Conversion
CO/CC or CC/CO |
40 Years
4 Months |
0 |
No |
|
Average
Age of Previous Business I 13 Years
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
DATABASE
SOLUTIONS CC |
B1992/011758/23 |
In
Business |
21 Years
9 Months |
0 |
No |
|
|
LA
GOURMANDE FOOD SPECIALIST CC |
B2008/013262/23 |
Deregistration
Final |
5 Years
5 Months |
0 |
No |
|
Principal's
Deeds Information - No information on record
Principal Previous
Business Interest
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.43 |
|
|
1 |
Rs.83.20 |
|
Euro |
1 |
Rs.71.91 |
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.