MIRA INFORM REPORT

 

 

Report Date :

28.10.2013

 

IDENTIFICATION DETAILS

 

Name :

AKHALWAYAS SPICES OF MAYFAIR CC

 

 

Formerly Known As :

PRETERITE

 

 

Registered Office :

23 Central Avenue, Mayfair, 2092

 

 

Country :

South Africa

 

 

Date of Incorporation :

25.01.1999

 

 

Com. Reg. No.:

B1999/003223/23

 

 

Legal Form :

Close Corporation

 

 

Line of Business :

Retail trade of spices and other food stuffs

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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

 

Subject Name

AKHALWAYAS SPICES OF AAAYFAIR CC

Country

South Africa

Subject Contact Person

SHIREEN BHAIJEE-MANAGING MEMBER

Assessment

This is an established business. On investigation we made contact with SHIREEN BHAIJEE the managing member who requested the questionnaire for completion. We have followed up on the questionnaire on numerous occasions, however MRS BHAIJEE requested more time to complete the questionnaire. Please see the available information on the subject below.

 

 

Company Information

 

Registered Name

AKHALWAYAS SPICES OF MAYFAIR CC

Trading as/ Division Name

AKHALWAYAS

Previous Name

PRETERITE

Date of Name Change

2013-02-26

Registration Number

B1999/003223/23

Registration Date

1999/01/25

Date Commenced Trading

1999-01-25

Age of Business

14 Years 9 Months

History of Business

The subject commenced trading as a new business in 1999. It underwent a name change in 2013 from PRETERITE to AKHALWAYAS SPICES OF MAYFAIR CC

History of Principals

There is currently 1 active director within the business.

Shareholders/Members/Partners of

subject and % holding

100% - SHIREN BHAIJEE

Authorised Share Capital

R0.00

Issued Share Capital/Members Contribution

R0.00

Status

In Business

Operations Assessment

Retail trade of spices and other food stuffs

Industry/ Customers

The general public

Export

Yes

Export Countries

--

Import

Yes

Import Countries

--

Major Industry Code / SICC

61221

Definition of Code

Wholesale trade in foodstuffs

Head Office Physical Address

23 CENTRAL AVENUE, MAYFAIR, 2092

Head Office Postal Address

P 0 BOX 421033, FORDSBURG, 2033

Current Tel Number

0118392115

Cell Number

0834339006

Current Fax Number

0865562300

Current Email Address

preteriteOI @yahoo.com

Web Site Address

Unavailable

Comments

--

 

 

Auditors Information

 

Company Registered Name

DANNHAUSER DE WET INCORPORATED

Trading Name

--

Registration Number

DANNHAUSER DE WET INC

Physical Address

20 HANS STRIJDOM DRIVE, ROBINDALE, RANDBURG, 2194

Postal Address

PO BOX 80, FERNDALE, 2160

Contact Person

Unavailable

Contact Number

Unavailable

Email

Unavailable

Principals

1

Judgements Against Subject

None On Record

Judgements Against Principals

None On Record

Subject Verified as Client

 

Practice Number

Unavailable

VAT Number

Unavailable

Tax Number

9153635843

BEE Status

Unavailable

Financial Year End

December

No of years in Business

10 Years

Website

Unavailable

Comment

--

Previous Auditors Information - No Information on Record

 

 

Tax Information

 

Vat Number

4640202356

Status

ACTIVE

Vat Liable Date

2002/09/01

Tax Number

9008259872

Tax Clearance Expire Date

--

Financial Year End

February

Comment

--

Black Economic Empowerment Information - No Information on Record

 

ISO Information - No Information on Record

 

Work Mans Information - No Information on Record

 

 

Company Structure

 

Subsidiaries Information - No Information on Record

 

Employees Information - No Information on Record Company

 

Fleet Information - No Information on Record

 

Offices Information

 

Branch Information

 

 

Management Overview

 

Organisation Chart

 

Level

Position

Name

Comment

 

1

Managing Member

SHIRIEN BHAITJEE

 

 

Company Structure (Ownership)

Note: One level up and all levels down

 

Holding

Company

Sub

Comment

100% - SHIRIEN BHAITJEE

AKHALWAYAS SPICES OF MAYFAIR CC

 

 

 

KEY DEALS – NO INFORMATION ON RECORD

 

TRADE REFERENCE INFORMATION – NO INFORMATION ON RECORD

 

 

Adverse Information on Subject

 

JUDGMENTS - NO INFORMATION ON RECORD

 

BUSINESS RESCUE - NO INFORMATION ON RECORD

 

DEFAULT LISTING - NO INFORMATION ON RECORD

 

NOTARIAL BONDS - NO INFORMATION ON RECORD

 

BANK INFORMATION - NO INFORMATION ON RECORD

 

BANK CODE HISTORY - NO INFORMATION ON RECORD

 

PREVIOUS BANK ACCOUNT INFORMATION - NO INFORMATION ON RECORD

 

DEEDS INFORMATION - NO INFORMATION ON RECORD

 

 

Principals

 

Number of Principals

1

Average Age of Active Principals

44

Active Principals

Principal - 1of 1

SHIRIEN BHAITJEE

Surname

BHAITJEE

First Name

SHIRIEN

Other Names

NONE

Marital Status

 

ID Number

6903270098089

Verified ID Number

Yes

Current Age

44 Years 7 Months

Designation

 

Status

Active

Appointment Date

2002/08/06

Physical Address (at time of Appointment)

NO 83 WINSTON ROAD, HOMESTEAD PARK, JOHANNESBURG, 2001

Postal Address

P 0 BOX 421033, FORDSBURG, JOHANNESBURG, GAUTENG, 2033

Current Tel Number

0113319559

Cell number

0846573500

Shareholding/Membership

100%

 

Principal's Adverse - No information on record

 

 

Business Information for SHIRIEN BHAITJEE

 

Principal Current Business Interests

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

AKHALWAYAS SPICES OF MAYFAIR CC

B1999/003223/23

In Business

14 Years 2 Months

1

No

 

DANWET NO W2 (PTY) LTD

M1999/026604/07

Deregistration Process

14 Years 2 Months

0

No

 

MERILIA INVESTMENTS (PTY) LTD

K2012/142965/07

In Business

1 Years 1 Months

0

No

 

 

 

Principal Previous Business Interests

 

Average Age of Previous Business: 9 Years

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

SHISHA TRADING CC

B2004/035808/23

In Business

9 Years 9 Months

0

No

 

 

 

Principal's Deeds Information - No information on record

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.63

UK Pound

1

Rs.99.94

Euro

1

Rs.84.14

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIT

 

 

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.