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Report Date : |
25.02.2013 |
IDENTIFICATION DETAILS
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Name : |
VICTORIA INTERNATIONAL CC. |
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Registered Office : |
8 Millar Place Kloof
3610174 Teakwood Road jacoba |
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Country : |
South Africa |
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Date of Incorporation : |
17.01.2007 |
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Com. Reg. No.: |
2007/008501/23South Africa |
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Legal Form : |
Close Corporation |
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Line of Business : |
exporters of
pulses, oilseeds, spices and other related products |
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No. of Employees : |
10 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 (31.03.2012) |
Current Rating (30.06.2012) |
|
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.
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Source : CIA |
Registered Name: VICTORIA INTERNATIONAL CC.
Requested Name: VICTORIA
INTERNATIONAL CC
Other Names: None
Physical Address: 8
Millar Place Kloof 3610174 Teakwood Road jacoba
Postal Address: P. o. Box 2655 Durban 4000
Durban
4000
Country: South
Africa
Phone: 27-31-4591861/
7640727/ 4591869 / 8252708
Cell: 27-833098965/
834543824
Fax: 27-866141131
Email: mohan@victoriainternational.co.za
Website: www.victoriainternational.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: 17/01/2007
Reg. Number: 2007/008501/23South
Africa
Tax Number 9319859204
Nominal Capital ZAR. 120
Subscribed Capital ZAR. 120
Subscribed Capital is Subscribed in the following form:
Position Shares
Mohan Krishnan
Nair Director 100%
Full Names Mohan
Krishnan Nair
Status 6104225207186
Date of Birth 22/04/1961
ID / Passport No. 6104225207186
Member interest (%) 100%
Member Contribution(ZAR) 120
Residential Address Po
Box 1428 Durban 4000
Postal Address 8
Millar Place Kloof 3610
Country of residence South
Africa
None Parent company.
None Subsidiary company.
VICTORIA PRODUCE COMPANY Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as exporters of pulses, oilseeds, spices and other
related products
Imports: Middle
East
Exports: Asia
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 10
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: South
Africa
Location: Rented
premises, 1,500 square feet,
Auditors: GCABASHE INC
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 42,000,000
Bank Name: Standard 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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.43 |
|
UK Pound |
1 |
Rs.83.20 |
|
Euro |
1 |
Rs.71.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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.