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Report Date : |
06.03.2013 |
IDENTIFICATION DETAILS
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Name : |
MEDIVISION (PTY) LIMITED |
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Registered Office : |
MSI
Business park, 68 Rigger Rd., Spartan, P. o. Box 1055, Halfway House,
Midrand, 1685 |
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Country : |
South Africa |
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Date of Incorporation : |
22.10.2001 |
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Com. Reg. No.: |
2001/025349/07 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Dealers in health care
products, pharmaceuticals and related products |
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No. of Employees : |
30 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
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
SUBJECT'S NAME
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Registered Name: |
MEDIVISION (PTY)
LIMITED |
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Requested Name: |
MEDIVISION (PTY) LIMITED |
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Other Names: |
None |
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ADDRESS AND TELECOMMUNICATION
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Physical Address: |
MSI
Business park, 68 Rigger Rd., Spartan |
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Postal Address: |
P.
o. Box 1055, Halfway House, |
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Midrand,
1685 |
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Country: |
South Africa |
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Phone: |
27-11-9753624/3153800 |
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Fax: |
27-866113319/-11-3153801 |
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Email: |
medivis@mweb.co.za |
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Website: |
None |
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CREDIT OPINION
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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. |
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LEGAL
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
22-Oct-2001 |
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Reg. Number: |
2001/025349/07 |
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Nominal Capital |
ZAR.
1,000 |
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Subscribed Capital |
ZAR.
1,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Sathvir Singh |
Director |
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Mr. Shailendra Kumar Singh |
Manager |
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DIRECTORS
INFORMATION
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Full Names |
SATHVIR SINGH |
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Status |
Active |
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Profession |
Director |
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Country of residence |
South Africa |
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Full Names |
SHAILENDRA KUMAR SINGH |
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Status |
Active |
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Profession |
Manager |
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Country of residence |
South Africa |
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RELATED COMPANIES
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None |
Parent company. |
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None |
Subsidiary company. |
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None |
Affiliated company. |
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None |
Shareholder of subject
firm. |
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None |
Branches of the firm |
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OPERATIONS
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Registered to operate as
dealers in health care products, pharmaceuticals and related products |
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Imports: |
Asia, Europe |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
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Main Customers: |
Local agencies, firms and organizations |
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Employees: |
30 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
South Africa |
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Location: |
Leased premises, 5,000 square feet, |
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AUDITORS AND
INSURANCE
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Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
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FINANCE
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Currency Reported: |
South African Rand (ZAR.) |
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Approx. Ex. Rate: |
1 US Dollar = 9.09 South
African Rand |
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Fiscal Year End: |
December 31, 2012 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2012 was of 13%. |
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Financial Information not
Submitted |
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Profit and Loss
(expressed in ZAR.) |
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2012 |
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Sales |
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35,000,000 |
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BANK
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Bank Name: |
ABSA
BANK |
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Branch: |
South
Africa |
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Comments: |
None |
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TRADE REFERENCES |
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Experiences: |
Good |
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NOTARIAL BONDS |
None |
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COMMENTS /
ADDITIONAL INFORMATION
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This information was
obtained from outside sources other than the subject company itself and confirmed
the above subject. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian
Rupees |
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US Dollar |
1 |
Rs.54.65 |
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UK Pound |
1 |
Rs.82.65 |
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Euro |
1 |
Rs.71.20 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
RATING EXPLANATIONS
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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.