|
Report Date : |
26.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
JESH
SHOES CC |
|
|
|
|
Registered Office : |
17 Manchester
Road, Pietermaritzburg, Kwazulu Natal |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
26.05.2004 |
|
|
|
|
Com. Reg. No.: |
B2004/050645/23 |
|
|
|
|
Legal Form : |
Close Corporation |
|
|
|
|
Line of Business : |
Manufacture
of Footwear |
|
|
|
|
No. of Employees : |
60 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Status : |
Moderate |
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 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 |
JESH
SHOES CC |
|
Country |
South
Africa |
|
Subject
Contact Person |
VINESHMALAN
NADASEN PILLAY - Managing Member |
|
Assessment |
This is
an established business. On investigation contact was made with MR.
VINESHMALAN NADASEN PILLAY the managing member who assisted with most of the
information, he however declined to provide the financial information due to
it being confidential. The subject is meeting commitments timeously with
suppliers. We have obtained a bank code C for R 100 000 over a period of 30
days. Please see the available information obtained below. |
|
Registered
Name |
JESH
SHOES CC |
|
Trading
as/ Division Name |
JESH
SHOES |
|
Previous
Name |
None |
|
Date of
Name Change |
None |
|
Registration
Number |
B2004/050645/23 |
|
Registration
Date |
2004/05/26 |
|
Date
Commenced Trading |
2004-05-26 |
|
Age of
Business |
9 Years
2 Months |
|
History
of Business |
JESH
SHOES CC commenced trading as a new business in 2004. |
|
History
of Principals |
There
are currently 2 active members within the business. |
|
Shareholders/Members/Partners
of subject and % holding |
50 % -
VINESHMALAN NADASEN PILLAY, 50 % - RENE PILLAY |
|
Authorised
Share Capital |
R 0.00 |
|
Issued
Share Capital/Members Contribution |
R 0.00 |
|
Status |
In
Business |
|
Operations
Assessment |
The
subject manufactures shoes. |
|
Industry/
Customers |
The
general public |
|
Export |
None |
|
Export
Countries |
|
|
Import |
None |
|
Import
Countries |
|
|
Major
Industry Code / SICC |
31700 |
|
Definition
of Code |
MANUFACTURE
OF FOOTWEAR |
|
Head
Office Physical Address |
17 Manchester
Road, Pietermaritzburg, KWAZULU NATAL |
|
Head
Office Postal Address |
P O BOX
437, LUXMI, 3207 |
|
Current
Tel Number |
0333875522 |
|
Cell
Number |
Unavailable |
|
Current
Fax Number |
0333971924 |
|
Current
Email Address |
Unavailable |
|
Web Site
Address |
Unavailable |
|
Comments |
|
|
Company
Registered Name |
MEKRAJ
AND COMPANY |
|
Trading
Name |
None |
|
Registration
Number |
6208125211089
(Sole Proprietor) |
|
Physical
Address |
18 ESSA ROAD,
SAMANAVILLE, PIETERMARITZBURG, 3201 |
|
Postal
Address |
P O BOX
437, LUXMI, 3207 |
|
Contact
Person |
HIMMESH |
|
Contact
Number |
0333972941 |
|
Email |
Unavailable |
|
Principals |
1 |
|
Judgements
Against Subject |
None On
Record |
|
Judgements
Against Principals |
None On
Record |
|
Subject
Verified as Client |
Yes |
|
Practice
Number |
955418 |
|
VAT
Number |
4500163573 |
|
Tax
Number |
Unavailable |
|
BEE
Status |
Unavailable |
|
Financial
Year End |
Unavailable |
|
No of
years in Business |
Unknown |
|
Website |
Unavailable |
|
Comment |
|
Previous
Auditors Information - No Information on Record
|
Vat
Number |
4540217884 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
2004/09/01 |
|
Tax
Number |
9621331157 |
|
Tax Clearance
Expire Date |
|
|
Financial
Year End |
February |
|
Comment |
|
Black
Economic Empowerment Information - No Information on Record
ISO
Information - No Information on Record
Workman's
compensation
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
|
Comment |
|
Company
Structure
Subsidiaries
Information - No Information on Record
|
Employees |
||||
|
Number
of Employees |
60 |
|||
|
1.
Salaried employees |
60 |
|||
|
2. Waged
employees |
|
|||
|
3.
Permanent employees |
60 |
|||
|
4.
Casual employees |
|
|||
|
5.
Contracted employees |
|
|||
|
Comment |
|
|||
|
Company
Fleet |
||||
|
Company
Fleet |
No of
vehicles: |
Ownerd/Leased |
Value |
Outstanding
Balance |
|
Fleet
Operations |
|
|||
|
The
Fleet is made up of |
9 |
|||
|
Comment |
|
|||
|
Cars |
6 |
Owned |
|
|
|
Light
delivery Vehicles 3 Owned |
||||
Offices
|
Offices |
Offices |
|
Head
Office Owned/ Rented |
Owned |
|
Rental
Company |
|
|
Owned by |
JESH
SHOES CC |
|
Value |
|
|
Bond |
|
|
Bank |
|
|
Lease
Agreement |
|
|
Lease
Expire Date |
|
|
Type of
Premises |
Offices
and a factory |
|
Comment |
|
Branch
Information - No Information on Record
Organisation
Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
Member |
VINESHMALAN
NADASEN PILLAY |
|
1 Member RENE
PILLAY
Company
Structure (Ownership)
Note: One
level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
50 % -
VINESHMALAN NADASEN PILLAY |
JESH
SHOES CC |
|
|
|
50 % -
RENE PILLAY |
JESH
SHOES CC |
|
|
Key Deals
- No Information on Record
Trade
References
|
Trade
Reference nr |
Supplier |
Contact |
Surety
Value |
Notarial
Bonds |
Comment |
|
1 |
A GREEN
AWAYS |
0312089101 |
|
|
|
|
2 |
MENDELSON
AND |
0312088171 |
|
|
|
|
|
FROST |
|
|
|
|
Trade
References Detail
|
Nr |
Age of
Acc |
Credit
Limit |
Max
Credit |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
|
1 |
10 Years |
R
500000.00 |
R 200000 |
30 Days |
R 70000 |
30 Days |
Excellent
account |
|
2 |
15 Years |
|
R 1500 |
C.O.D |
R 600 |
C.O.D |
GOOD |
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
|
Bank |
FIRST
NATIONAL BANK |
|
Branch |
RAISETHORPE |
|
Brach
Code |
250655 |
|
Bank
Account Number |
62071409108 |
|
Type of
Account |
Current |
|
Account
Name |
JESH
SHOES CC |
|
Overdraft
Facilities |
None |
|
Bank
Code |
C For
R100 000 |
|
Bank
Comment |
The
subject's bankers consider them good for all business normal engagements |
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 |
2 |
|
Average
Age of Active Principals |
49 |
|
Active
Principals Principal - 1of 2 RENE PILLAY |
|
|
Surname |
PILLAY |
|
First
Name |
RENE |
|
Other
Names |
None |
|
Marital
Status |
Married |
|
ID
Number |
6607070626086 |
|
Verified
ID Number |
Yes |
|
Current
Age |
47 Years |
|
Designation |
Member |
|
Status |
Active |
|
Appointment
Date |
2004/10/18 |
|
Physical
Address (at time of Appointment) |
29
BOUNDARY ROAD, BELFORT, NORTHDALE, PIETERMARITZBURG, 3201 |
|
Postal
Address |
PO BOX
437, LUXMI, 3207 |
|
Current
Tel Number |
0333875522 |
|
Cell
number |
0726202687 |
|
Shareholding/Membership |
50 % |
Principal's
Adverse - No information on record
Business
Information forRENE PILLAY
Principal Current
Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
JESH
SHOES CC |
B2004/050645/23 |
Deregistration
Process |
9 Years
9 Months |
0 |
No |
|
Principal's
Previous Business Interests - No information on record
Principal's
Deeds Information - No information on record
Principal
- 2of 2 VINESHMALAN PILLAY
|
Surname |
PILLAY |
|
First
Name |
VINESHMALAN |
|
Other
Names |
None |
|
Marital
Status |
Married |
|
ID Number |
6201085240081 |
|
Verified
ID Number |
Yes |
|
Current
Age |
51 Years
6 Months |
|
Designation |
Member |
|
Status |
Active |
|
Appointment
Date |
2004/10/18 |
|
Physical
Address (at time of Appointment) |
29
BOUNDARY ROAD, BELFORT, NORTHDALE, PIETERMARITZBURG, 3201 |
|
Postal
Address |
PO BOX
437, LUXMI, 3207 |
|
Current
Tel Number |
0333875522 |
|
Cell
number |
0832341800 |
|
Shareholding/Membership |
50 % |
Principal's
Adverse - No information on record
Business
Information forVINESHMALAN PILLAY
Principal
Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
JESH
SHOES CC |
B2004/050645/23 |
Deregistration
Process |
9 Years 9
Months |
0 |
No |
|
|
RENE
FOOTWEAR |
6201085240057 |
|
Unknown |
0 |
No |
|
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.58.94 |
|
|
1 |
Rs.90.47 |
|
Euro |
1 |
Rs.77.86 |
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.