MIRA INFORM REPORT
|
Report Date : |
22.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
Step Up Footwear CC |
|
|
|
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Registered Office : |
76 Dorp
Street, Stellenbosch, 7600 |
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|
Country : |
South Africa |
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Date of Incorporation : |
24.10.2008 |
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Com. Reg. No.: |
B2008/225995/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
The company operates as an importer of clothing, footwear and carpets |
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No. of Employees : |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Unknown |
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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) |
|
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 |
STEP
UP FOOTWEAR CC |
|
Country |
South
Africa |
|
Subject
Contact Person |
M
H Haiderzada |
|
Assessment |
This is a newly
formed business. On investigation contact was made with the managing member
MR. MOHAMMAD HAIDERZADA who declined to assist with any information on the subject.MR
HAIDERZADA deemed most of the information as confidential and requested to
know the name of the principal enquirer. Please see the available information
on the subject below. |
|
Registered
Name |
STEP
UP FOOTWEAR CC |
|
Trading
as/ Division Name |
None |
|
Previous
Name |
None |
|
Date
of Name Change |
None |
|
Registration
Number |
B2008/225995/23 |
|
Registration
Date |
2008/10/24 |
|
Date
Commenced Trading |
24
OCTOBER 2008 |
|
Age
of Business |
3
Years 10 Months |
|
History
of Business |
STEP UP FOOTWEAR
CC was registered in 2008 and operations commenced immediately. |
|
History
of Principals |
MOHAMMAD
HASHIM HAIDERZADA has been in the import and retail industry for a number of
years |
|
Shareholders/Members/Partners
of subject and % holding |
100
% - MOHAMMAD HASHIM HAIDERZADA |
|
Authorised
Share Capital |
R0.00 |
|
Issued
Share Capital/Members Contribution |
R0.00 |
|
Status |
In
Business |
|
Operations
Assessment |
The company operates
as an importer of clothing, footwear and carpets |
|
Industry/
Customers |
Retailers
and Boutiques |
|
Import |
Yes |
|
Import
Countries |
India |
|
Major
Industry Code / SICC |
61310 |
|
Definition
of Code |
Wholesale
trade in textiles, clothing and footwear |
|
Head
Office Physical Address |
76
Dorp Street, STELLENBOSCH,7600 |
|
Head
Office Postal Address |
PO
BOX 871, STELLENBOSCH, 7599 |
|
Current
Tel Number |
0218829067 |
|
Cell
Number |
0814669424 |
|
Current
Fax Number |
0218829067 |
|
Current
Email Address |
|
|
Web
Site Address |
None |
|
Comments |
The contact number provided 021 880
2069 constantly rings unansweredThe fax number provided 021 880 2929 belongs
to a private line The contact numbers 021 4180794 and 072 477 1157 listed on
a telephone directory is not in serviceThe subject has moved all their
operations from 27 Somerset Road, The Square, Cape Town to the current
address |
|
Company
Registered Name |
CONCILIO
AUDIT INC |
|
Trading
Name |
None |
|
Registration
Number |
M2010/002138/21 |
|
Physical
Address |
Muscadel House, Brandwacht
Office Park, Trumali Street, STELLENBOSCH, 7600 |
|
Postal
Address |
PO
BOX 871, STELLENBOSCH, 7599 |
|
Contact
Person |
HAYLEY |
|
Contact
Number |
0218873448 |
|
Email |
|
|
Principals |
2 |
|
Judgements
Against Subject |
None
On Record |
|
Judgements
Against Principals |
None
On Record |
|
Subject
Verified as Client |
No |
|
Practice
Number |
901847 |
|
VAT
Number |
4140255441 |
|
Tax
Number |
9704507152 |
|
Financial
Year End |
February |
|
No
of years in Business |
2 |
|
Website |
|
|
Comment |
According to the
spokesperson, the subject is no longer one of their clients, No further
details were made available |
Previous Auditors
|
Company Name |
Phone Number |
Time with previous auditors |
Comment |
|
TENK LOUBSER AND ASSOCIATES |
|
4 |
|
|
Vat
Number |
4210251478 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
2008/11/01 |
|
Tax
Number |
-- |
|
Tax
Clearance Expire Date |
-- |
|
Financial
Year End |
February |
|
Status |
No |
|
BEE
Certificate Available |
No |
|
Type
of ISO Grade |
None |
|
ISO
Certificate |
No |
|
ISO
Certificate Available |
No |
|
Comment |
Due
to the nature of the concern an ISO status is not applicable |
|
Registered |
No |
|
Compliance
Certified |
No |
|
Subsidiaries |
||||
|
Comment |
There
are no reported subsidiaries |
|||
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|
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Employees |
||||
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Number
of Employees |
10 |
|||
|
1.
Salaried employees |
5 |
|||
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2.
Waged employees |
-- |
|||
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3.
Permanent employees |
5 |
|||
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4.
Casual employees |
-- |
|||
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5.
Contracted employees |
-- |
|||
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|||
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Company
Fleet |
||||
|
Company
Fleet |
No
of vehicles: |
Ownerd/Leased |
Value |
Outstanding
Balance |
|
Fleet
Operations |
|
|
|
|
|
The
Fleet is made up of |
0 |
|||
|
Comment |
All vehicles are privately owned by the
member |
|||
|
|
0 |
|
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Office
|
Offices |
Offices |
|
|
Head
Office Owned/ Rented |
Leased |
|
|
Rental
Company |
MATMAR |
|
|
Lease
Agreement |
Annually |
|
|
Type
of Premises |
Showroom
and retail store |
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|
|
|
|
|
Branch
Information |
||
|
Branches Names |
Country |
Province |
|
There are no
reported branches of the concern |
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|
Organisation
Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
AAANAGING MEMBER |
MOHAMMAD HASHIM
HAIDERZADA |
|
Company Structure
(Ownership)
Note: One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
100 % - MOHAMMAD HASHIM HAIDERZADA |
STEP UP FOOTWEAR
CC |
|
|
Key Deals - No
Information on Record
|
Trade Reference
nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
|
1 |
ECONO TRANS |
0215115513 |
R0.00 |
0 |
|
Trade References Detail
|
Nr |
Age
of Acc |
Credit
Limit |
Max Credit |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
|
1 |
1 YEAR |
R0.00 |
R
60000.00 |
14
Days |
R 30000 |
14 Days |
Excellent
Account, |
Judgments
- No information on record
Business
Rescue - No Information on Record
Default
Listing - No information on record
Notarial Bonds
- No information on record
|
Bank |
NEDBANK |
|
Brach
Code |
198765 |
|
Bank
Account Number |
CONFIDENTIAL |
|
Type
of Account |
CHEQUE |
|
Account
Name |
STEP
UP FOOTWEAR CC |
|
Overdraft
Facilities |
The subject does not
require over draft facilities as credit balances are maintained at the bank |
|
Bank
Code |
P |
|
Bank
Comment |
A
Bank code could not be obtained as the subject declined to provide a bank
account number |
Bank Code History
- No Information on Record
Previous
Bank Account Information - No Information on Record
Deeds
Information - No information on record
|
Current
Turnover per annum |
R
3000000.00 |
|
Comment |
THE SUBJECTS ANTICIPATED TURNOVER
FOR THE NEXT FINANCIAL YEAR IS IN THE REGION OF THREE TO FIVE MILLIOM |
|
Please note the
following: |
|
|
Turnover and assets less than R
1,000,000.00 |
The
subject falls within the National Credit Act |
|
Turnover and assets less than R
2,000,000.00 |
The
subject falls within the Consumer Protection Act |
|
Number
of Principals |
1 |
|
Average
Age of Active Principals |
44 |
|
Active Principals Principal - 1of 1 MOHAMMAD HAIDERZADA |
|
|
Surname |
HAIDERZADA |
|
First
Name |
MOHAMMAD |
|
Other
Names |
HASHIM |
|
Marital
Status |
Married |
|
ID
Number |
6803160000000 |
|
Verified
ID Number |
Yes |
|
Current
Age |
44 |
|
Designation |
Managing
Member |
|
Status |
Active |
|
Appointment
Date |
2008/10/24 |
|
Physical
Address (at time of Appointment) |
122
OLDENLAND ROAD, SOMERSET WEST, 7135 |
|
Postal
Address |
122
OLDENLAND ROAD, SOMERSET WEST, 7135 |
|
Current
Tel Number |
0218829067 |
|
Shareholding/Membership |
100% |
Principal's
Adverse - No information on record
Business
Information for MOHAMMAD HAIDERZADA
Principal
Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
|
STEP UP FOOTWEAR
CC |
B2008/225995/23 |
In Business |
4 Years 4 Months |
0 |
No |
|
GIOVANNA SHOES CC |
B2009/185444/23 |
In Business |
3 Years 3 Months |
0 |
No |
|
LET
US MEAT CC |
B2009/185447/23 |
In Business |
3 Years 3 Months |
0 |
No |
|
PLUSH RED CARPET
CC |
B2010/139250/23 |
In Business |
2 Years 2 Months |
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.54.04 |
|
|
1 |
Rs.83.95 |
|
Euro |
1 |
Rs.70.93 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.