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Report Date : |
10.10.2013 |
IDENTIFICATION DETAILS
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Name : |
PYRATRADE (PTY) LTD |
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Registered Office : |
Block A Unit 1, Frosterly Park,
1 Armstrong Avenue, La Lucia Ridge, Kwazulu-Natal |
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Country : |
South Africa |
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Date of Incorporation : |
04.04.2011 |
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Com. Reg. No.: |
2011/007280/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Not Available |
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No. of Employees : |
05 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Yet to commence business activity |
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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 |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
ATTENTION:
(The information contained in
this report, other than statutory data and comment by outside authorities, has
been voluntarily supplied by Officials of the subject)
PYRATRADE (PTY) LTD
Block A Unit 1
Frosterly Park
1 Armstrong Avenue
LA LUCIA RIDGE
KwaZulu-Natal
P O Box 201351
DURBAN
4051
TELEPHONE NUMBER: +27 31 566 4567/37
FAX NUMBER: +27 31 566 4650
On investigation contact was made with the personal assistant to the Director, who was reluctant to assist the investigator with information and requested that an email questionnaire be forwarded to the Director. This was duly sent. As soon as further information is forthcoming, the same will be compiled and forwarded to our client. Nevertheless the following information was provided.
W V MOSS
A PATEL
None
W V MOSS ID No. 6606245693088
A PATEL ID No. 7604280201080
NEDBANK, Johannesburg Corporate
Branch.
4 April 2011
Registration Certificate
Number: 2011/007280/07
4960258343
9316546176
The respondent stated that the subject
is still in its setting-up phase and declined further information.
Wholesalers
South Africa
None
5
None
R1 000 divided into 1 000
ordinary shares of R1 each
R100
HANIFA OSMAN
FEBRUARY
This is a new business which is still in its setting up phase. In view of the lack of full information. As soon as further information is forthcoming, the same will be forwarded to our client.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
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|
1 |
Rs.99.45 |
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Euro |
1 |
Rs.83.92 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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 |
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<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.