MIRA INFORM REPORT

Report Date :

17.07.2013

IDENTIFICATION DETAILS

Name :	EUROPA ART SHOE BOUTIQUE

Registered Office :	Unit 71, Sunny Rock Business Park, Sunny Rock Close, Germiston, Johannesburg, 1610

Country :	South Africa

Date of Incorporation :	Not Available

Com. Reg. No.:	4907150117101

Legal Form :	Private Company

Line of Business :	Wholesale trade in textiles, clothing and footwear

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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 31^st 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

South Africa

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 and a stock exchange that is the 15th largest in the world. Even though the country possesses modern infrastructure that support a relatively efficient distribution of goods to major urban centers throughout the region, some components retard growth. The economy began to slow in the second half of 2007 due to an electricity crisis. 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. Subsequently, the global financial crisis reduced commodity prices and world demand. GDP fell nearly 2% in 2009 but has recovered since then. Unemployment, poverty, and inequality remain a challenge, with official unemployment at nearly 25% of the work force. State power supplier Eskom has built two new power stations and installed new power demand management programs to improve power grid reliability. South Africa's economic policy has focused on controlling inflation, however, the country has had significant budget deficits that restrict its ability to deal with pressing economic problems. The current government faces 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	EUROPA ART GROUP
Country	South Africa
Subject Contact Person	JACKIE SCOTT - Financial Manager
Assessment	On investigation contact was made with MRS. JACKIE SCOTT, the financial manager who assisted with the basic information on the subject. MRS. SCOTT requested a questionnaire to be sent to her for completion. We have followed up on the questionnaire on numerous occasions she however has requested more time to complete the questionnaire. We are awaiting further information on the business. Please see the available information on the subject below.

Company Structure

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

Management Overview

Organisation Chart

Level	Position	Name	Comment

1	Owner	MALPOMENI LAMBRAKIS

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
100 % - MALPOMENI LAMBRAKIS	EUROPA ART GROUP

Key Deals - No Information on Record

Trade References Information - No Information on Record

Adverse Information on Subject

Judgements - No information on record

Business Rescue - No Information on Record

Default Listing - No information on record

Notarial Bonds - No information on record

Bank Information

Bank	FIRST NATIONAL BANK
Branch	GERMISTON
Brach Code	250655
Bank Account Number	51110793960
Type of Account	CURRENT
Account Name	MALPOMENI LAMBRAKIS
Overdraft Facilities	Unavailable
Bank Code	Awaiting a bank code

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
Average Age of Active Principals

Active Principals Principal - 1of 1 MALPOMENI LAMBRAKIS

Surname	LAMBRAKIS
First Name	MALPOMENI
Other Names	None
ID Number	4907150117101
Verified ID Number	Yes
Current Age	64
Designation	OWNER
Status	Active
Physical Address (at time of Appointment)	Unavailable
Postal Address	Unavailable
Current Tel Number	0114550949
Cell number	Unavailable
Shareholding/Membership	100%

Principal's Adverse - No information on record

Business Information for MALPOMENI LAMBRAKIS

· Principal's Current Business Interests - No information on record

Principal's Previous Business Interests - No information on record

Principal's Deeds Information - No information on record

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.39
UK Pound	1	Rs.89.90
Euro	1	Rs.77.23

INFORMATION DETAILS

Report Prepared by :

MNL

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

Registered Name	EUROPA ART SHOE BOUTIQUE
Trading as/ Division Name	LAMBRAKIS
Previous Name	None
Date of Name Change	None
Registration Number	4907150117101
Date Commenced Trading	Unavailable
Age of Business	Unavailable
History of Business	Unavailable
History of Principals	There is currently 1 owner within the business.
Shareholders/Members/Partners of subject and % holding	100 % - MALPOMENI LAMBRAKIS
Status	In Business
Operations Assessment	Retail trade of footwear
Industry/ Customers	The general public
Export	None
Import	Yes
Major Industry Code / SICC	61310
Definition of Code	Wholesale trade in textiles, clothing and footwear
Head Office Physical Address	Unit 71, Sunny Rock Business Park, Sunny rock close, GERMISTON, JOHANNESBURG, 1610
Head Office Postal Address	Private BagX19, Suite 54, GARDEN VIEW, 2047
Current Tel Number	0114550949
Cell Number	Unavailable
Current Fax Number	0866587460
Current Email Address	info@europashoes.co.za
Web Site Address	Unavailable