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Report Date : |
25.02.2013 |
IDENTIFICATION DETAILS
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Name : |
F R WARING (INTERNATIONAL) (PTY) LTD |
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Registered Office : |
Suite 4 Village Office Park 2 Inkonka Road , Kloof, 3610 Kwazulu Natal |
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Country : |
South Africa |
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Date of Incorporation : |
22.04.1985 |
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Com. Reg. No.: |
1985/001916/07 South Africa |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Commodity traders specialising in bulk agricultural commodities |
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No. of Employees : |
40 employees. |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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South Africa |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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: F R WARING (INTERNATIONAL) (PTY) LTD
Requested Name: FR
WARING FEEDS (Pty) Ltd.
Trade Names: FR
WARING FEEDS
Physical Address: Suite 4 Village Office Park 2
Inkonka Road , Kloof, 3610 Kwazulu Natal
Postal Address: P. o. Box 1616, Kloof, Kwazulu Natal 3640
Country: South
Africa
Phone: 27-31-7642951
Fax: 27-31-7641142
Email: info@frwfeeds.co.za
Website: www.frwaring.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: Limited Corporation
Date Incorporated: 22/04/1985
Reg. Number: 1985/001916/07
South Africa
Tax Number 9525067717
Nominal Capital ZAR. 4,000
Subscribed Capital ZAR. 4,000
Subscribed Capital is Subscribed in the
following form:
Position Shares
Mr. Teunis Snoek Director
Mr. Christopher
Eustace Berry Director
Mr. John Philip
Rose Director
Mr. Derrick Francis Director
Mr. Don Paolo
Truda Director
Mr. Patricia
Virginia Ruth Jung Director
Mr. Shaun Gabriel
Maitre Director
Mr. Henri
Jean-Patrick Coppez Director
Mr. Roger Matthew
Holden Pitt Director
Full Names Mr.
Teunis Snoek
Date of Birth 11/07/1948
ID / Passport No. 4811075076105
Residential Address 63A-65A High
Street Seven Oaks Kent Tn 131 Jy England
Postal Address 63A-65A High
Street Seven Oaks Kent Tn 131 Jy England
Profession CEO
Country of residence South Africa
None Parent company.
None Subsidiary company.
F R WARING (COMMODITIES)
F R WARING (PROPERTIES)
F R WARING ASSOCIATED (TRADING) Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as Commodity traders specialising in bulk agricultural
commodities
Imports: Middle
East, Asia.
Exports: Africa,
Europe, USA
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: Food
industry including Premier Milling and the Tongaat group
Employees: 40
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: South
Africa
Location: Rented
premises, 30,000 square feet,
Auditors: PRICEWATERHOUSECOOPERS INC
Insurance Brokers: Thebe Hoskins
Alexander Forbes
Currency Reported: South African Rand (ZAR.)
Approx. Ex. Rate: 1 US Dollar = 8.20 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 82,000,000
Bank Name: NEDBANK, Sage Branch,
STANDARD BANK, Rosebank
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.43 |
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|
1 |
Rs.83.20 |
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Euro |
1 |
Rs.71.91 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.