MIRA INFORM REPORT

 

 

Report Date :

10.10.2013

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

No Trace

 

 

Payment Behaviour :

--

 

 

Litigation :

--

 

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

 

ARCELOR MITTAL LOGISTICS

 

 

PHYSICAL ADDRESS

 

7/13 Johnstone Road

MAYDON WHARF

Durban

           

 

POSTAL ADDRESS   

 

P O Box 1887

DURBAN

4000

 

 

TELEPHONE NUMBER   

 

+27 31 274 3001

 

 

FAX NUMBER

 

+27 31 205 9782/4

 

Note :

                       

On investigation searches at CIPC revealed no company within South Africa registered as ARCELOR MITTAL LOGISTICS.  Contact was made with a respondent at the subject who stated that there is no finance department for the company, only an accountant, Denise, who was unable to assist with the investigator with information on the company and suggested that the investigator contact Paul Long on +27 31 274 3002.  Paul was, however, also unable to assist the investigator with information on the subject and requested that the investigator contact ARCELORMITTAL SOUTH AFRICA (PTY) LTD on +27 16 889 9111.  Contact was made with numerous respondents at the subject who were all unable to assist the investigator.  Attempts to contact the Company Secretary, Ruth, on +27 16 889 2550 have also proved unsuccessful as the telephone rings continuously.  Numerous messages have left for the respondent to return the investigators call, however, to date no response has been forthcoming.  As soon as further information is forthcoming the same will be compiled and forwarded to our client.  The investigator will continue to endeavour to contact the respondent and it is requested that our client provide a registration number for the subject so that further investigations may be instituted.

 

 

 

Important Note:

Kindly provide us with additional information such as Correct Name, Address, Contact Details, Name of Contact Person or a copy of the Upper Part of Letterhead within 15 days of receiving this report, a supplementary report would be sent without any additional cost.

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

 

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