|
Report Date : |
17.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
INVERSE INTERNATIONAL (PTY) LTD |
|
|
|
|
Registered Office : |
90A Sixth Avenue Morningside, Durban |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
05.03.2009 |
|
|
|
|
Com. Reg. No.: |
2009/004405/07 |
|
|
|
|
Legal Form : |
Limited Corporation |
|
|
|
|
Line of Business : |
Manufacture and supply of textiles and garments |
|
|
|
|
No. of Employees : |
35 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 Unemployment remains high and outdated infrastructure has constrained growth.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
Registered Name: INVERSE INTERNATIONAL (PTY) LTD
Requested Name: INVERSE
INTERNATIONAL
Former Names: INVERSE
INTERNATIONAL CC
Physical Address: 28 Rosetta Rd, Morningside,
Durban, 4001
Registered Address: 90A Sixth Avenue Morningside, Durban
Postal Address: Postnet Suite 38, Private Bag
X504,
Northway 4065
Country: South
Africa
Phone: 27-31-3031784
Fax: 27-31-3031785
Email: shelly@inversa.co.za
Website: None
Financial Index as of December 2012 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: 05-March-2009
Reg. Number: 2009/004405/07
Nominal Capital ZAR. 100
Subscribed Capital ZAR. 100
Subscribed Capital is Subscribed in the
following form:
Position Shares
Mr. Wayne Roger Dickson MD
Mr. Martin Wilhelm Schulze Director
Full Names WAYNE
ROGER DICKSON
Status Active
Date of Birth 27/02/1972
ID / Passport No. 7202270000000
Member interest (%) 50
Member Contribution(ZAR) 50
Residential Address 7
Balmoral Drive, Durban North4051
Postal Address 6
Rosetta Road, Durban4001
Profession Managing
Director
Country of residence South
Africa
Full Names MARTIN
WILHELM SCHULZE
Status Active
Date of Birth 16/06/1971
ID / Passport No. 7106165081082
Member interest (%) 50
Member Contribution(ZAR) 50
Residential Address 2 Norfolk Broads, 24 Norfolk Road, Berea,
Durban4001
Postal Address 6
Rosetta Road, Durban4001
Profession Director
Country of residence South
Africa
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate manufacture and supply of textiles and garments
Imports: Asia,
Europe
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 35
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: South
Africa
Location: Owned
premises, 5,000 square feet,
Auditors: JEANINE MONTOCCHIO
Insurance Brokers: Information not available.
Currency Reported: South African Rand (ZAR.)
Approx. Ex. Rate: 1 US Dollar = 8.69 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 45,000,000
Bank Name: Ned 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.
24/08/2000 Subject company was
registered as a Close Corporation under the Registration Number 2000/049755/23
under the names INVERSE INTERNATIONAL CC.
On 05/03/2009 Subject company converted from Close Corporation to a Pty
Ltd under the Registration Number 2009/004405/07 under the names INVERSE
INTERNATIONAL(PTY)LTD.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.82 |
|
|
1 |
Rs.87.99 |
|
Euro |
1 |
Rs.72.83 |
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.