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Report Date : |
07.11.2013 |
IDENTIFICATION DETAILS
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Name : |
KIWI NETS CC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1988 |
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Com. Reg. No.: |
1998/027861/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Manufacturers and
suppliers of top quality mosquito nets, the brand name being KIWI NETS. |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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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 |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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.
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 |
KIWI NETS CC
KIWINET
34 Danneel Street
STANFORD
Western Cape
POSTAL ADDRESS:
P O Box 10
STANFORD
7210
TELEPHONE NUMBER: +27
28 341 0209
FAX NUMBER: +27 28 341 0638
100% MS R A NEL ID
No. 6109170153087
None
NEDBANK, Hermanus
Branch. It was stated that the subject
does not require overdraft facilities as credit balances are maintained at the
bank.
DATE REGISTERED: 18 May 1998
Registration Certificate
Number: 1998/027861/23
The subject commenced
trading in 1988
VAT NUMBER: 4040192272
TAX NUMBER: 9245031027
Manufacturers and
suppliers of top quality mosquito nets, the brand name being KIWI NETS.
The subject imports
occasionally and deals mainly with:
SVENMILL Cape Town
Luxury lodges and the
public
AREA OF DISTRIBUTION AND
SELLING: South Africa
EXPORTS: Worldwide
TOTAL EMPLOYEES: 10
OTHER PREMISES: None
OWNED OR LEASED: The
premises are reported to be leased
MEMBERS CONTRIBUTION: R500
Full financial
information was not forthcoming from respondents at the subject and outside
authorities were unable to assist in this regard.
ADAM SCHOUW AND CAIN 2
INCORPORATED
FEBRUARY
SANTAM INSURANCE BROKERS
NOT APPLICABLE
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. June
2002 Declined R
80 000- 60 days 60 days Very
Good
R
100 000
This is an established business meeting its
local commitment timeously. The subject
is considered equal to a maximum amount of over 60 days. The lack of financial information should be
borne in mind.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.6192 |
|
|
1 |
Rs.99.60 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.