MIRA INFORM REPORT

 

 

Report Date :

29.11.2013

 

IDENTIFICATION DETAILS

 

Name :

SUPRATOV INVESTMENTS CC

 

 

Registered Office :

7 Cartwright Street Stormill Roodepoort Gauteng

 

 

Country :

South Africa

 

 

Date of Incorporation :

26.10.1999

 

 

Com. Reg. No.:

1999/060306/23

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importers and distributors of packaging materials such as flexible film their brands being Polycrop and Polyesithene.

 

 

No. of Employees :

07

 

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. 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

 

COMPANY NAME

 

SUPRATOV INVESTMENTS CC

 

 

PHYSICAL ADDRESS    

 

7 Cartwright Street Stormill Roodepoort Gauteng

 

 

POSTAL ADDRESS   

 

P O Box 3629 Florida 1710

 

 

TELEPHONE NUMBER   

 

+27 11 474 4823

 

 

FAX NUMBER

 

+27 11 474 4826

 

The subject moved from Unit 4 Midwest Par, Leader Avenue Robertville in November, December 2012.

 

 

MEMBERS

 

100%    MRS S KONFORTY      

ID No. 4607240154088

 

 

ASSOCIATE COMPANIES

 

None

 

BANKERS

 

STANDARD BANK, Sandton Branch, Account Number: 022670491.  It was stated that the subject enjoys overdraft facilities, secured by a cession of debtors and the personal guarantee of the member.  Utilisation of the overdraft is stated to fluctuate.

 

 

DATE REGISTERED

 

26 October 1999

Registration Certificate Number: 1999/060306/23

 

 

VAT NUMBER    

 

4640197650

 

 

TAX NUMBER          

 

9591003836

 

 

BEE STATUS 

 

Non-compliant

 

 

MAJOR OPERATION

 

Importers and distributors of packaging materials such as flexible film their brands being Polycrop and Polyesithene.

 

 

MAJOR SUPPLIERS

 

The subject imports its supplies from India and Israel and deals with the following South African suppliers:

 

ROHLIG-GRINDROD Johannesburg

CEVA LOGISTICS (EGL) Johannesburg

KNH FREIGHT

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

 

Packaging industries

 

 

AREA OF DISTRIBUTION AND SELLING

 

 South Africa

 

 

EXPORTS

 

Small to Zimbabwe

 

 

TOTAL EMPLOYEES

 

7

 

 

OTHER PREMISES   

 

None

 

 

OWNED OR LEASED

 

The premises are reported to be owned by the subject, bonded in favour of Standard Bank.

 

 

MEMBERS CONTRIBUTION

 

R100

 

 

FINANCIALS

 

Full financial information was not forthcoming from the respondent at the subject, however, it was stated that Stock is between R3 000 000 – R4 000 000, Debtors are between R3 000 000 – R4 000 000 and turnover per month is approximately R3 500 000.

           


           

AUDITORS

 

JACK LEON LURIE, Sandton

 

 

YEAR END    

 

FEBRUARY

 

 

INSURANCE BROKERS 

 

GUTTON INSURANCE BROKERS

 

 

TRADE REFERENCES – APRIL 2007

 

            PERIOD            HIGHEST          AVERAGE         TERMS             PAYMENT         EXPERIENCE

                                    CREDIT            CREDIT                                    PATTERN

 

1.         Feb 2006           R250 000          R100 000          30 days             30 days             Very Good

 

2.         June 2006         R500 000          R400 000          30 days             30 days             Very Good

 

 

TRADE REFERENCES – MARCH 2008

 

            PERIOD            HIGHEST          AVERAGE         TERMS             PAYMENT         EXPERIENCE

                                    CREDIT            CREDIT                                    PATTERN

 

1.         2006                 R1 000 000        R300 000-         30 days             30 days             Very Good

                       

            c/l                     R400 000

 

TRADE REFERENCES – MAY 2009

 

            PERIOD            HIGHEST          AVERAGE         TERMS             PAYMENT         EXPERIENCE

                                    CREDIT            CREDIT                                    PATTERN

 

1.         Awaiting a fax trade reference

 

2.         3 years             R1 000 000        confidential        30 days             30 days             Very Good

                                    c/l

 

TRADE REFERENCES – AUGUST 2009

 

            ACCOUNT        HIGHEST          AVERAGE                     TERMS             PAYMENT         EXPERIENCE

            OPENED           CREDIT            CREDIT                                                PATTERN

 

1.         Feb 2006           R1 000 000                                            30 days             30 days             Good

            (Have not purchased since April 2009)

 

2.         Do not give trade references

 

 

TRADE REFERENCES – APRIL 2013

 

            ACCOUNT        HIGHEST          AVERAGE                     TERMS             PAYMENT         EXPERIENCE

            OPENED           CREDIT            CREDIT                                                PATTERN

 

2006                 R2 000 000        Varies                           30 days             30 days             Good

 

Do not give trade references

 

 

CURRENT TRADE REFERENCES

 

            ACCOUNT        HIGHEST          AVERAGE                     TERMS             PAYMENT         EXPERIENCE

            OPENED           CREDIT            CREDIT                                                PATTERN

 

1.         10 years            R  350 000        R 150 000-                    30 days             30 days             Excellent

                                                            R 350 000

2.         Do not give trade references

 

3.         +2006               R2 000 000        R1 000 000                    30 days             30 days             Excellent

 

 

COMMENTS

 

This is an established business which imports most of its supplies.  The subject is meeting its obtainable commitments timeously. 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.39

UK Pound

1

Rs.101.80

Euro

1

Rs.84.75

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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.