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Report Date : |
19.10.2013 |
IDENTIFICATION DETAILS
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Name : |
PLUSH RED CARPET CC |
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Registered Office : |
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Country : |
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Financials (as on) : |
February |
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Date of Incorporation : |
12.10.2010 |
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Com. Reg. No.: |
2010/139250/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
Importers and
retailers of exclusive hand knotted carpets with no specific brand names. |
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No. of Employees : |
04 |
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 : |
Small company |
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Payment Behaviour : |
Slow but correct |
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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) |
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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. 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
PLUSH RED CARPET CC
THE RED CARPETS
76 Dorp Street
STELLENBOSCH
Western Cape
76 Dorp Street
STELLENBOSCH
Western Cape
+27 21 882 9067
27 21 882 9067
100% M H HAIDERZAEA
DOB 680316
None
NEDBANK Stellenbosch
Branch, Account Number: 1001952006. The subject
has an overdraft facility secured by member guarantees. Utilisation of the overdraft is stated to
fluctuate.
12 October 2010
Registration Certificate
Number: 2010/139250/23
The subject commenced trading in 2010
4670257791
9676604151
Importers and retailers
of exclusive hand knotted carpets with no specific brand names.
The subject imports 98%
of its supplies from the East and deals locally with:
ECONO FREIGHT
The public
South Africa
None
4 permanent and 1 casual
None
The premises are
reported to
R100
The following estimated
financial situation was submitted as at 15 October 2013:
STOCK R4 500 000
DEBTORS COD
CREDITORS Varies
TURNOVER per annum ±R3 500 000
BERNARD SHAW AUDITORS
FEBRUARY
SANLAM INSURANCE BROKERS
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1.2 years Open Acc R10 000- 14 days 14 days Very good R40 000
This is an established small business which imports most of its supplies.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.28 |
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|
1 |
Rs.99.03 |
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Euro |
1 |
Rs.83.80 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
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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 |
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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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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.