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Report Date : |
21.03.2013 |
IDENTIFICATION DETAILS
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Name : |
NIMKO TRADING CC |
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Registered Office : |
23 Market Street, P. o. Box 1067 Witkoppen 2068, Johannesburg 2055 |
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Country : |
South Africa |
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Date of Incorporation : |
03.08.2006 |
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Com. Reg. No.: |
2006/131998/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
Subject operate as dealers in general merchandise |
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No. of Employees : |
20 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 : |
Regular |
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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 (31.03.2011) |
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.
Source
: CIA
Registered Name: NIMKO TRADING CC
Requested Name: NIMKO
TRADING CC
Other Names: None
Physical Address: 23 Market Street, Johannesburg
Postal Address: P. o. Box 1067 Witkoppen 2068,
Johannesburg 2055
Country: South
Africa
Phone: 27-11-8391993/8361755
Cell: 27-824478350
Fax: 27-11-8361755
Email: None
Website: None
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.
Legal Form: Close Corporation
Date Incorporated: 03-Aug-2006
Reg. Number: 2006/131998/23
Tax Number: 9153406849
Nominal Capital ZAR. 1,000
Subscribed Capital ZAR. 1,000
Subscribed Capital is Subscribed in the
following form:
Position Shares
Mr. Dayal Naraindas
Bhojwani MD
Full Names DAYAL
NARAINDAS BHOJWANI
Status Active
Date of Birth 22/02/1947
ID / Passport No. 4702220000000
Member interest (%) 100
Member Contribution(ZAR) 1000
Residential Address 7
Mopani Lodge Off, Buffalo Thorn Road, Fourways Gardens, Phase 2, 1685
Postal Address P.o.
Box 1067Witkoppen2068
Profession Managing
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 as dealers in general merchandise
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: Local
agencies, stores etc
Employees: 20
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: South
Africa
Location: Rented
premises, 5,000 square feet,
Auditors: D K MOTIRAM AND COMPANY
Insurance Brokers: Information not available.
Currency Reported: South African Rand (ZAR.)
Approx. Ex. Rate: 1 US Dollar = 9.18 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 35,000,000
Bank Name: ABSA 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.
On 26/09/1994 subject company was registered under the Registration
Number 1994/031107/23 under the names NIMKO TRADING CC
On 26/10/2000 it was
converted to a Pty Ltd under the Registration Number 2000/027304/07 under the
names NIMKO TRADING (PTY) LTD
On 03/08/2006 it was converted to a Close Corporation under the
Registration Number 2006/131998/23 under the names NIMKO TRADING CC
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.37 |
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|
1 |
Rs.82.07 |
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Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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.