MIRA INFORM REPORT

Report Date :

05.09.2013

IDENTIFICATION DETAILS

Name :	VKM TRADERS CC

Formerly Known As :	VKM TRADERS (PTY)LTD

Registered Office :	201b Mercantile Street, Proclamation Hill, Pretoria

Country :	South Africa

Date of Incorporation :	10.11.2008

Com. Reg. No.:	B2008/236102/23

Legal Form :	Closed Corporation

Line of Business :	· Subject is involved in the import and wholesale of safety wear textile products and general merchandise Wholesale trade in textiles, clothing and footwear

No. of Employees :	05

RATING & COMMENTS

MIRA’s Rating :

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 31^st 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

South Africa

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. 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.

Source : CIA

Subject Name	VKM TRADERS CC
Country	South Africa
Subject Contact Person	ABDUL ANVERALI - Managing Member
Assessment	This is an established business. On investigation contact was made with the Managing Member, ABDUL ANVERALI. The company has been operating since 2004. The company is meeting commitments it's one local service provider timeously. Adverse information was revealed on the member and business. According to ABDUL ANVERALI, the second member has since resigned although not reflected by CIPC. Please see the information obtained below.

Auditors information

Company Registered Name	N A DAWOOD & COMPANY
Trading Name	Unavailable
Registration Number	Unavailable
Physical Address	Unavailable
Postal Address	PO BOX 14308, HATFIELD, 0028
Contact Person	Unavailable
Contact Number	Unavailable
Email	Unavailable
Judgements Against Subject	Unavailable
Judgements Against Principals	Unavailable
Subject Verified as Client	No
Practice Number	631256
VAT Number	Unavailable
Tax Number	Unavailable
BEE Status	Unavailable
Financial Year End	Unavailable
No of years in Business	5 Years 4 Months
Website	Unavailable

Previous Auditors

Company Name	Phone Number	Time with previous auditors	Comment
OSMAN MOOSA AND ASSOCIATE		Unknown

Tax information

Vat Number	4950219248
Status	ACTIVE
Vat Liable Date	2005/05/04
Tax Number	9696747147
Tax Clearance Expire Date
Financial Year End	February

Black Economic Empowerment Information - No Information on Record

ISO Information - No Information on Record

Workman's compensation

Registered	Yes
Compliance Certified	Yes

Company Structure

Subsidiaries

Subsidiary Company

There are no reported subsidiaries

Employees

Number of Employees	5
1. Salaried employees	5
2. Waged employees	0
3. Permanent employees	5
4. Casual employees	0
5. Contracted employees	0

Company Fleet

Company Fleet	No of vehicles:	Owned/Leased	Value	Outstanding Balance
Fleet Operations
The Fleet is made up of	1
Comment
Cars	1	Leased

Offices

Offices	Offices
Head Office Owned/ Rented	Leased
Rental Company	Unavailable
Type of Premises	Office and warehouse

Branch Information

Branches Names	Country	Province
There are no reported branches	South Africa

Management Overview

Organisation Chart

Level	Position	Name	Comment

1	Managing Member	ABDUL ANVERALI

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
100 % - ABDUL ANVERALI	VKM TRADERS CC

Key deals signed within the past 12 months.

Company	Value	Contact	Comment
None

Trade References

Trade Reference nr	Supplier	Contact	Surety Value	Notarial Bonds	Comment
1	LTG FREIGHT	012 564 3420

Trade References Detail

Nr	Age of Acc	Credit Limit	Max Credit	Terms	Average Purchases	Terms Taken	Comment
1	2 Years		R 300000	60 Days	R 200000	60 Days	There is no credit limit. This is a good account.

Adverse Information on Subject

Judgements

Judgements	None
Possible Judgements	None
Civil Court	None
RDs	None
Comment	No Information on Record

Business Rescue

Date registered

Business rescue practitioner

Contact Information

Details

Comment

There is no information found

on file

No Information on Record

No Information on

Record

No Information on

Record

Default Listings

Date	Details	Comment
2011/08/17	SERVICES RENDERED	Amount: R48 942,00Plaintiff Name: ASSURED FREIGHT SERVICES PTY LTD

Notarial Bonds - No information on record

Bank information

Bank	HBZ BANK
Branch	PRETORIA
Brach Code	570105
Bank Account Number	41061875
Type of Account	CURRENT ACCOUNT
Account Name	VKM TRADERS CC
Overdraft Facilities	Unavailable
Bank Code	Unavailable

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	2
Average Age of Active Principals	47

Active Principals Principal - 1of 2 ABDUL ANVERALI

Surname	ANVERALI
First Name	ABDUL
Other Names	KADER
Marital Status	Single
ID Number	6103105122085
Verified ID Number	Yes
Current Age	52 Years 6 Months
Designation	Managing Member
Status	Active
Appointment Date	2008/11/10
Physical Address (at time of Appointment)	007 JUMA MANSIONS, 213 13TH AVENUE, LAUDIUM, 0037
Postal Address	007 JUMA MANSIONS, 213 13TH AVENUE, LAUDIUM, 0037
Current Tel Number	0123702367
Cell number	0794999978
Shareholding/Membership	100%

Adverse Information for ABDUL ANVERALI

Principal Judgement

Number of Judgements	1
Principal Debt Review
Debt review	None
Other
Default data	None

Business Information for ABDUL ANVERALI

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
EVEKEE DAMONO KNITWEAR AAANUFACTURERS CC	B1995/014022/23	Deregistration Process	18 Years 6 Months	1	No
SHABANA KNITWEAR	6103105122051		Unknown	0	No
SHABANA KNITWEAR CC	B1992/017426/23	In Business	21 Years 9 Months	1	No
VKM TRADERS CC	B2008/236102/23	In Business	5 Years 5 Months	1	No

Principal Previous Business Interests

Average Age of Previous Business 14 Years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
AL-QADRI IMPORTERS AND WHOLESALERS CC	B1997/062873/23	Deregistration Final	16 Years 4 Months	0	No
BIG SAVE SUPERMARKET CC	B1998/055585/23	Deregistration Final	15 Years 3 Months	0	No
JIFNA TRADING CC	B1993/003095/23	Deregistration Final	20 Years 8 Months	0	No
KANDY WORLD CC	B2000/011698/23	Deregistration Final	13 Years 1 Months	0	No
KANDYLAND SWEETS CC	B2000/018684/23	Deregistration Final	13 Years 1 Months	0	No
PARK BOULEVARD TRADING 192 CC	2007/198289/23	Deregistration Final	6 Years 6 Months	0	No
SAVE BIG SUPERMARKET CC	B1998/064314/23	Deregistration Final	15 Years 3 Months	0	No

Principal's Deeds Information - No information on record

Principal - 2of 2 MAHESH BUDIA

Surname	BUDIA
First Name	MAHESH
Other Names
Marital Status
ID Number	7007250000000
Verified ID Number	No
Current Age	43 Years 2 Months
Designation	BUSINESSMAN
Status	Active
Appointment Date	2004/08/13
Physical Address (at time of Appointment)	701 PANCH STREET, BOKULHAM GOREGOAN, MAMBAI 63 M-S, 0000
Postal Address	P O BOX 34620, ERASMIA, 0023
Current Tel Number
Cell number
Shareholding/Membership	0.00

Adverse Information for MAHESH BUDIA

Principal Judgement

Number of Judgements 0

Principal Debt Review

Debt review No Information on Record

Other

Default data No Information on Record

Business Information for MAHESH BUDIA

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
VKM TRADERS CC	B2008/236102/23	In Business	5 Years 5 Months	1	No

Principal's Deeds Information - No information on record

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.67.03
UK Pound	1	Rs.104.32
Euro	1	Rs.88.24

INFORMATION DETAILS

Report Prepared by :

MNL

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.

Registered Name	VKM TRADERS CC
Trading as/ Division Name	VKM
Previous Name	VKM TRADERS (PTY)LTD
Date of Name Change	2008-11-01
Registration Number	B2008/236102/23
Registration Date	2008/11/10
Date Commenced Trading	2004-08-01
Age of Business	4 Years 10 Months
History of Business	VKM TRADERS CC trading as VKM was registered in 2008. It underwent a conversion from a Private company (registration number 2004/022231/07) to a close corporation.
History of Principals	There is one active member within the business.
Shareholders/Members/Partners of subject and % holding	100% - ABDUL ANVERALI
Authorised Share Capital	R 100.00
Issued Share Capital/Members Contribution	R 100.00
Status	In Business
Operations Assessment	The business is involved in the import and wholesale of safety wear textile products and general merchandise.
Industry/ Customers	Retail stores and the general public.
Export	Unknown
Import	Yes
Import Countries	India
Major Industry Code / SICC	61310
Definition of Code	Wholesale trade in textiles, clothing and footwear
Head Office Physical Address	201B MERCANTILE STREET, PROCLAMATION HILL, PRETORIA
Head Office Postal Address	P O BOX 14687, HATFIELD, 0028
Current Tel Number	0123864457 / 8
Cell Number	0833069736
Current Fax Number	0866168190
Current Email Address	zaahid@vkm.co.za
Web Site Address	www.vkm.co.za