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Report Date : |
12.03.2013 |
IDENTIFICATION DETAILS
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Name : |
J MV TEXTILES (PTY)LTD |
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Registered Office : |
18 Republic Street, Verulam, 4339 |
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Country : |
South Africa |
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Date of Incorporation : |
27.01.1971 |
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Com. Reg. No.: |
M1971/001026/07 |
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Legal Form : |
Private Company |
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Line of Business : |
subject manufacture of textiles |
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No. of Employees : |
Not available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Usually Correct |
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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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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.
|
Source : CIA |
|
Subject Name |
J MV
TEXTILES (PTY)LTD |
|
Country |
South Africa |
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Subject Contact Person |
AVNEEKANTH VALJEE - Director |
|
Assessment |
On investigation contact was made with the director MR. AVNEEKANTH VALJEE who declined to assist with any information regarding the subject. MR. VALJEE stated that the subject has no dealings with any suppliers in INDIA and requested to know the name of the principal enquirer before he may divulge any information on the subject. Please see the available information on the subject below. |
|
Registered Name |
J MV
TEXTILES (PTY)LTD |
|
Trading as/ Division Name |
J MV |
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Previous Name |
None |
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Registration Number |
M1971/001026/07 |
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Registration Date |
1971/01/27 |
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Date Commenced Trading |
1971-01-27 |
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Age of Business |
42 Years 2 Months |
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History of Business |
The subject was established as anew business in 1971 and operations
commenced immediately. |
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History of Principals |
There are currently 2 active directors within the company. |
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Shareholders/Members/Partners of subject and % holding |
Unavailable |
|
Authorised Share Capital |
R0.00 |
|
Issued Share Capital/Members Contribution |
R0.00 |
|
Status |
In Business |
|
Operations Assessment |
The subject manufacture of textiles. |
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Industry/ Customers |
All major wholsalers and retailers. |
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Export |
None |
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Import |
None |
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Major Industry Code / SICC |
311 |
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Definition of Code |
SPINNING, WEAVING AND FINISHING OF TEXTILES |
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Head Office Physical Address |
18 REPUBLIC STREET, VERULAM, 4339 |
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Head Office Postal Address |
P O BOX 300, VERULAM, 4340 |
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Current Tel Number |
0325331070 |
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Current Fax Number |
0325331074 |
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Current Email Address |
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Company Registered Name |
KURT HOLDSTOCK CA (SA) |
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Registration Number |
6706215171089 |
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Physical Address |
39 ARCHBELL ROAD, GLENMORE, DURBAN, 4001 |
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Postal Address |
P 0 BOX 5107, DURBAN, 4000 |
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Contact Number |
0114520026 |
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Principals |
1 |
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Subject Verified as Client |
Yes |
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Practice Number |
364436 |
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VAT Number |
4290157561 |
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Financial Year End |
February |
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No of years in Business |
42 |
Previous Auditors Information - No Information on Record
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Vat Number |
4770115527 |
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Tax Number |
9141109208 |
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Financial Year End |
February |
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Black Economic
Empowerment |
|
|
Status |
Yes |
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Score |
3.00 |
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Expire Date |
|
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BEE Certificate Available |
No |
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Comment |
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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
Organisation Chart
|
Level |
Position |
Name |
Comment |
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|||
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1 |
Director |
AVNEEKANTH VALJEE |
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|||
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1 |
Director |
JAISOOK VALJEE |
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Company Structure Information - No Information on Record
Note: One level up and all levels down
Key Deals - No Information on Record
Trade References Information - No Information on Record
Business Rescue -
No Information on Record
Judgements - 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 |
2 |
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Average Age of Active Principals |
73 |
Active Principals Principal - 1of 2 AVNEEKANTH VALJEE
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Surname |
VALJEE |
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First Name |
AVNEEKANTH |
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Other Names |
None |
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Marital Status |
Married |
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ID Number |
4007275061050 |
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Verified ID Number |
Yes |
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Current Age |
73 |
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Designation |
DIRECTOR |
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Status |
Active |
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Appointment Date |
2005/03/01 |
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Physical Address (at time of Appointment) |
481 PARK STATION ROAD, DURBAN, 4001 |
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Postal Address |
P. 0. BOX 300, VEULAM, 4340 |
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Current Tel Number |
0325331070 |
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Cell number |
|
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Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information
for AVNEEKANTH VALJEE
Principal Current
Business Interests
|
Company Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
OJAM INVESTMENTS (PTY) LTD |
M1966/006254/07 |
In Business |
46 Years 8 Months |
0 |
No |
|
|
J MV
TEXTILES (PTY) LTD |
M1971/001026/07 |
In Business |
42 Years 2 Months |
0 |
No |
|
|
VALVICK INVESTMENTS (PTY) LTD |
M1975/002639/07 |
In Business |
37 Years 7 Months |
0 |
No |
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Principal Previous Business Interests
Average Age of Previous Business 43 Years
|
Company
Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
GOOD FOOD RESTAURANT CC |
B1991/010092/23 |
Deregistration Final |
21 Years 11 Months |
0 |
No |
|
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MOHANLAL VALJEE (PTY) LTD |
M1957/002591/07 |
Deregistration Final |
55 Years 7 Months |
0 |
No |
|
|
VALBRO INVESTMENTS (PTY) LTD |
M1961/001275/07 |
In Business |
51 Years 6 Months |
0 |
No |
|
|
VALVIEW INV (PTY) LTD |
M1966/006385/07 |
In Business |
46 Years 8 Months |
0 |
No |
|
Principal's Deeds
Information - No information on record
Principal - 2of 2
JAISOOK VALJEE
|
Surname |
VALJEE |
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First Name |
JAISOOK |
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Other Names |
None |
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Marital Status |
Married |
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ID Number |
3904135071082 |
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Verified ID Number |
Yes |
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Current Age |
74 |
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Designation |
Director |
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Status |
Active |
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Appointment Date |
1971/01/27 |
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Physical Address (at time of Appointment) |
66 ADDISON AVENUE, LA LUCIA, 4051 |
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Postal Address |
P. 0. BOX 300, VEULAM, 4340 |
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Current Tel Number |
0315331070 |
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Cell number |
0824553767 |
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Shareholding/Membership |
0.0000 |
Principal's Adverse -
No information on record
Business Information
for JAISOOK VALJEE
Principal Current
Business Interests
|
Company Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
OJAM INVESTMENTS (PTY) LTD |
M1966/006254/07 |
In Business |
46 Years 8 Months |
0 |
No |
|
|
J MV
TEXTILES (PTY) LTD |
M1971/001026/07 |
In Business |
42 Years 2 Months |
0 |
No |
|
|
VALVICK INVESTMENTS (PTY) LTD |
M1975/002639/07 |
In Business |
37 Years 7 Months |
0 |
No |
|
|
USHANA PROPERTY
INVESTMENTS (PTY) LTD |
M1987/005784/07 |
|
25 Years 4 Months |
0 |
No |
|
|
POLYDYE (PTY)LTD |
M1999/007411/07 |
In Business |
13 Years 11 Months |
0 |
No |
|
|
HOUSE OF KNITS (PTY) LTD |
M2000/008875/07 |
In Business |
12 Years 10 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 35 Years
|
Company
Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
GOOD FOOD RESTAURANT CC |
B1991/010092/23 |
Deregistration Final |
21 Years 11 Months |
0 |
No |
|
|
MOHANLAL VALJEE (PTY) LTD |
M1957/002591/07 |
Deregistration Final |
55 Years 7 Months |
0 |
No |
|
|
VALBRO INVESTMENTS (PTY) LTD |
M1961/001275/07 |
In Business |
51 Years 6 Months |
0 |
No |
|
|
VALVIEW INV (PTY) LTD |
M1966/006385/07 |
In Business |
46 Years 8 Months |
0 |
No |
|
|
VERULAM KNITTING (PTY) LTD |
M1992/004335/07 |
Deregistration Final |
20 Years 8 Months |
0 |
No |
|
|
JAYSYNTH DYECHEM AFRICA (PTY)LTD |
M1995/002610/07 |
Deregistration Final |
18 Years |
0 |
No |
|
Principal's Deeds
Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
UK Pound |
1 |
Rs.81.09 |
|
Euro |
1 |
Rs.70.61 |
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 |
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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 |
|
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.