|
Report Date : |
15.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
POWER RUSH TRADING 241 CC |
|
|
|
|
Registered Office : |
Kylami Business Park,
Silverstone Cresent, Unit 1 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
09.11.2004 |
|
|
|
|
Com. Reg. No.: |
2004/116267/23 |
|
|
|
|
Legal Form : |
Closed Corporation |
|
|
|
|
Line of Business : |
Wholesaler in textiles |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 Unemployment remains high and outdated infrastructure has constrained growth.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 |
Power Rush
Trading |
|
Country |
South
Africa |
|
Subject
Contact Person |
PRAVIN
UPASANI |
|
Assessment |
This is an established
business. On investigation we have made contact with the subject and we were referred
to the Director Mr PRAVIN UPASANI who requested that we send him the
questionnaire. When we followed up on
the questionnaire Mr UPASANI stated that he will require more time to
complete the questionnaire. We still awaiting further information. Please see the
available information on the subject below. |
|
Registered
Name |
POWER RUSH
TRADING 241 CC |
|
Trading
as/ Division Name |
POWER RUSH
TRADING 241 |
|
Registration
Number |
2004/116267/23 |
|
Registration
Date |
2004/11/09 |
|
Date
Commenced Trading |
2004-11-09 |
|
Age of
Business |
7 Years 9
Months |
|
History of
Business |
The
business commenced as a new business in 2004 |
|
History of
Principals |
There is currently 1 Active
Director within the company. |
|
Authorised
Share Capital |
R0.00 |
|
Issued
Share Capital/Members Contribution |
R0.00 |
|
Status |
In
Business |
|
Operations
Assessment |
Wholesale
in textiles. |
|
Industry/
Customers |
Major
Clothing companies |
|
Major
Industry Code / SICC |
62323 |
|
Definition
of Code |
Retail
trade, general outfitters, textiles, leather, travel accessories |
|
Head
Office Physical Address |
Kylami
Business Park, Silverstone Cresent, Unit 1 |
|
Head
Office Postal Address |
P O BOX
182, JUKSKEI PARK, 2194 |
|
Current Tel
Number |
0114660807 |
|
Current
Fax Number |
0114660309 |
|
Current
Email Address |
|
Company
Registered Name |
KOBILAN
PILL AY |
|
Postal Address |
P 0 BOX
2387, EDENVALE, 1610 |
|
Practice
Number |
22380 |
|
No of
years in Business |
2 |
Previous auditors
|
Company Name |
Phone Number |
Time with previous auditors |
Comment |
|
ROY LOMNITZ |
|
3 |
|
|
AAALHERBE LOURENS |
|
Unknown |
|
|
Vat Number |
4140221492 |
|
Status |
ACTIVE |
|
Vat Liable
Date |
2005/07/01 |
|
Tax Number |
9446589153 |
|
Financial
Year End |
February |
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
Organisational Chart - No Information on
Record
Note: One level up
and all levels down
Company Structure Informatio n - No
Information on Record
Key Deals - No Info rmation 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
|
Number of
Principals |
1 |
|
Average
Age of Active Principals |
44 |
|
Active Principals
Principal - 1of 1 PRAVIN UPASANI |
|
|
Surname |
UPASANI |
|
First Name |
PRAVIN |
|
Marital
Status |
Married |
|
ID Number |
6811175417181 |
|
Verified
ID Number |
Yes |
|
Current
Age |
44 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment
Date |
2009/03/31 |
|
Physical
Address (at time of Appointment) |
19 SILVER
STONE, CRESCENT, KYALAMI, GAUTENG, 2153 |
|
Postal
Address |
P 0 BOX
189, JUSKEI PARK, GAUTENG, 2153 |
|
Current
Tel Number |
0114660807 |
|
Cell
number |
0824967256 |
|
Shareholding/Membership |
100.0000 |
Principal's Adverse - No
information on record
Business Information for
PRAVIN UPASANI
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
POWER RUSH TRADING 241 CC |
2004/116267/23 |
In Business |
7 Years 9 Months |
0 |
No |
|
|
PRT ENTERTAINMENT CC |
2010/093423/23 |
In Business |
2 Years 2 Months |
0 |
No |
|
|
PRT INTERNATIONAL
METALS CC |
B2009/017527/23 |
In Business |
3 Years 7 Months |
0 |
No |
|
|
ITEX INTERNATIONAL
(PTY) LTD |
K2012/108968/07 |
In Business |
2 Months |
0 |
No |
|
Principal Previous
Business Interests
Average Age of
Previous Business 10
Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
HOTCH
(PTY)LTD |
2001/000900/07 |
Deregistration Final |
11 Years 7 Months |
0 |
No |
|
|
EVEROLL
(PTY)LTD |
2002/026249/07 |
Deregistration Final |
9 Years 10 Months |
0 |
No |
|
Principal's Deeds
Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
|
UK Pound |
1 |
Rs.88.17 |
|
Euro |
1 |
Rs.73.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.