MIRA INFORM REPORT

Report Date :

28.05.2013

IDENTIFICATION DETAILS

Name :	JUGANATHAN REDDY

Registered Office :	50 Booysens Road, Selby, Johannesburg, 2033

Country :	South Africa

Date of Incorporation :	30.09.1991

Com. Reg. No.:	6008075189057

Legal Form :	Private Company

Line of Business :	Retail and wholesale of motor spares

No. of Employees :	15

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

Payment Behaviour :	Unknown

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 31^st 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

South Africa

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	JUGANATHAN REDDY - REDDYS MOTOR SPARES
Country	South Africa
Subject Contact Person	JUGANATHAN REDDY - Owner
Assessment	This is an established business. On investigation contact was made with the owner MR. JUGANATHAN REDDY who assisted with the basic information on the company. MR. REDDY declined to assist with banking and financial information as this information is considered to be confidential. The subject is in process of appointing a bookkeeper. Trade references were not made available as the subject predominantly imports it's products as such it does not have any local suppliers. Please see the information obtained below.

Tax Information

Vat Number	444012970
Status	ACTIVE
Vat Liable Date	1991/09/30
Financial Year End	December

Black Economic Empowerment

Status	No
BEE Certificate Available	No

ISO Status

Type of ISO Grade	9001:2000
ISO Certificate	Yes
ISO Certificate Available	No
Certified by an Accredited Agent	Yes

Workman's compensation

Registered	Yes
Compliance Certified	Yes

Company Structure

Subsidiaries Information - No Information on Record

Employees
Number of Employees	15
1. Salaried employees	15
2. Waged employees
3. Permanent employees	15
Company Fleet
Company Fleet	No of vehicles:	Owned/Leased	Value	Outstanding Balance
Fleet Operations
The Fleet is made up of
Comment	All vehicles are privately owned by the principal

Offices

Offices	Offices
Head Office Owned/ Rented	Owned
Rental Company	Principal
Type of Premises	Factories and Warehouse

Branch Information - No Information on Record

Management Overview

Organisation Chart

Level	Position	Name	Comment

1	Owner	JUGANATHAN REDDY

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
100% - JUGANATHAN REDDY	REDDY'S MOTOR SPARES

Key Deals - No Information on Record

Trade References Information - No Information on Record

Adverse Information on Subject

Judgements - No information on record

Business Rescue - 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

Principals

Active Principals Principal - 1of 1 JUGANATHAN REDDY

Surname	REDDY
First Name	JUGANATHAN
Other Names
Marital Status	Married
ID Number	6008075189057
Verified ID Number	Yes
Current Age	53
Designation	Owner
Status	Active
Appointment Date
Physical Address (at time of Appointment)	269 OLIFANTSFONTEIN ROAD, GLEN AUSTEN, MIDRAND
Postal Address	PO BOX 42668, FORDSBURG, 2033
Current Tel Number	0114937330
Cell number	0827776934
Shareholding/Membership	100%

Principal's Adverse - No information on record

Business Information for JUGANATHAN REDDY

· Principal's Current Business Interests - No information on record

· 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.55.62
UK Pound	1	Rs.84.18
Euro	1	Rs.71.96

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
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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

Registered Name	JUGANATHAN REDDY
Trading as/ Division Name	REDDYS MOTOR SPARES
Previous Name	None
Date of Name Change	None
Registration Number	6008075189057
Registration Date	1991/09/30
Date Commenced Trading	1991-09-30
Age of Business	12 Years
History of Business	Declined
History of Principals	There is 1 active principal within the business.
Shareholders/Members/Partners of subject and % holding	100 % - JUGANATHAN REDDY
Authorised Share Capital	R 100.00
Issued Share Capital/Members Contribution	R 100.00
Status	Active
Operations Assessment	Retail and wholesale of motor spares
Industry/ Customers	Motor industry and the general public
Export	None
Import	Yes
Import Countries	India
Major Industry Code / SICC	63319
Definition of Code	Sale of other new motor vehicle parts and accessories
Head Office Physical Address	50 Booysens Road, Selby, JOHANNESBURG, 2033
Head Office Postal Address	PO Box 42668, Fordsburg, JOHANNESBURG, 2030
Current Tel Number	0114937330
Cell Number	0827776934
Current Fax Number	0114931211
Current Email Address	Declined
Web Site Address	None