MIRA INFORM REPORT
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Report Date : |
22.05.2013 |
IDENTIFICATION DETAILS
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Name : |
S P VERMA PROPERTIES CC |
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Registered Office : |
57
Roxdale gardens Unit 419 CNR Lloys Ellis Ave and 2nd
Avehoughton 2198 RSA |
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Country : |
South Africa |
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Date of Incorporation : |
13.06.1997 |
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Com. Reg. No.: |
1997/030889/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
Subject operate as a consultancy firm |
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No. of Employees : |
20 |
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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 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.
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Source : CIA |
Registered Name: S P VERMA PROPERTIES CC
Requested Name: S
P VERMA PROPERTIES
Other Names: None
Physical Address: 57 Roxdale gardens Unit 419 CNR
Lloys Ellis Ave and 2nd Avehoughton
2198
RSA
Postal Address: P. o. Box 1242
Durban4000
Country: South
Africa
Phone: 27-31-296521
Fax: 27-31-296522
Email: None
Website: None
Legal Form: Close Corporation
Date Incorporated: 13-June-1997
Reg. Number: 1997/030889/23
VAT Number: 9007274203
Nominal Capital ZAR. 100
Subscribed Capital ZAR. 100
Subscribed Capital is Subscribed in the following form:
Position Shares
Pratima Verma Director
Hitesh Kumar Verma Director
Full Names PRATIMA
VERMA
Status Active
Date of Birth 22/09/1947
ID / Passport No. 4709220200184
Member interest (%) 50
Member Contribution(ZAR) 50
Residential Address Apartment 41,101 Victoria
Embankment
Durban
4001
Postal Address P.o.
Box 2920Durban4000
Profession Director
Country of residence South
Africa
Full Names HITESH
KUMAR VERMA
Status Active
Date of Birth 04/01/1980
ID / Passport No. 8001040000000
Member interest (%) 50
Member Contribution(ZAR) 50
Residential Address Apartment 41,101 Victoria
Embankment
Durban
4001
Postal Address P.o.
Box 2920Durban4000
Profession 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 a consultancy firm
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 20
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: South
Africa
Location: Leased
premises, 2,500 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: South African Rand (ZAR.)
Approx. Ex. Rate: 1 US Dollar = 9.46 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 55,000,000
Bank Name: FNB 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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.04 |
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UK Pound |
1 |
Rs.83.95 |
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Euro |
1 |
Rs.70.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.