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Report Date : |
29.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
GOLDKEYS PREPACKS CC |
|
|
|
|
Registered Office : |
87 Shepston Street, Durban
4001 |
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|
|
|
Country : |
South Africa |
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|
|
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Date of Incorporation : |
19.02.1992 |
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|
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Com. Reg. No.: |
1992/004467/23 |
|
|
|
|
Legal Form : |
Close Corporation |
|
|
|
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Line of Business : |
dealers in
packaging materials and related facilities |
|
|
|
|
No. of Employees : |
30 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 |
Registered Name: GOLDKEYS PREPACKS CC
Requested Name: GOLDKEYS
PREPACKS CC
Other Names: None
Physical Address: 87 Shepston Street, Durban 4001
Postal Address: P. o. Box 185
Durban,
Country: South
Africa
Phone: 27-31-3377648
Fax: 27-31-3686695
Email: abdulla@goldkeys.co.za
Website: www.goldkeys.co.za
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: 19-Feb-1992
Reg. Number: 1992/004467/23
VAT Number: 9109089202
Nominal Capital ZAR. 50,000
Subscribed Capital ZAR. 50,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Abdulla Ally MD 50%
Mrs. Shamim Amod Ally Director 50%
Full Names ABDULLA ALLY
Status Active
ID / Passport No. 7202095143082
Member interest (%) 50
Member Contribution(ZAR) 25,000
Residential Address 28
Clayton Road, Overport4091
Postal Address 28
Clayton Road, Overport4091
Profession Managing
Director
Country of residence South
Africa
Full Names SHAMIM
AMOD ALLY
Status Active
ID / Passport No. 7212230102083
Member interest (%) 50
Member Contribution(ZAR) 25,000
Residential Address 28
Clayton Road, Overport4091
Postal Address 28
Clayton Road, Overport4091
Profession Director
Country of residence South
Africa
None Parent company.
None Subsidiary company.
ALLDES PROPERTY
INVESTMENTS CC,
EXODEC 245 CC,
FINE ASSET INVESTMENTS 92 CC. Affiliated companies.
None Shareholder of subject firm.
In Major towns in
South Africa Branches of the firm
Registered to operate as dealers in packaging materials and related
facilities
Imports: Asia,
Europe
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 30
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: South
Africa
Location: Leased
premises, 5,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: South African Rand (ZAR.)
Approx. Ex. Rate: 1 US Dollar = 9.56 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 120,000,000
Bank Name: F N B OF SA LTD
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.55.74 |
|
UK Pound |
1 |
Rs.84.17 |
|
Euro |
1 |
Rs.72.03 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.