|
Report Date : |
05.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAWAN IMPORT AND EXPORT CC |
|
|
|
|
Registered Office : |
Shop 3A Fourways Value Mart, Forest Road, Pineslopes, Fourways, Gauteng |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
04.06.2001 |
|
|
|
|
Com. Reg. No.: |
2001/037137/23 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Importers and distributors of home furniture, carpets, lighting, linen
and accessories |
|
|
|
|
No. of Employees : |
6 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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, unstable
electricity supplies retard growth. 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, the state-run
power company, 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 |
SAWAN IMPORT
AND EXPORT CC
INDIKRAFT
Shop 3A
Fourways Value Mart
Forest Road
PINESLOPES
Fourways
Gauteng
Post Net Suite
Private Bag X5
FOURWAYS NORTH
2086
TELEPHONE NUMBER: +27
11 465 8487
FAX NUMBER: +27 11 465 7064
CELL PHONE NUMBER: +27
84 444 4161
50% M L ANEJA ID
No. 5110285189181
50% V ANEJA ID
No. 7603016336186
It was stated by the respondent that the members are in the process of
change to 100% M L ANEJA.
None. It was stated that V ANEJA is involved in other businesses,
however, the names were not forthcoming.
FIRST NATIONAL BANK, Fourways Branch. The subject has an overdraft
facility, secured by member guarantees. Utilisation of the overdraft is stated
to fluctuate.
4 June 2001
Registration Certificate Number: 2001/037137/23
The subject commenced trading in 2001 as a new business
4320208874
9116259145
None
Importers and distributors of home furniture, carpets, lighting, linen
and accessories under the brand name INDIKRAFT.
The subject imports 98% of its supplies and deals locally with:
STELLA SHIPPING
It was stated by the respondent that the subject prefers to deal on a
C.O.D. basis with the clearing agent due to discounts.
The general public
South Africa
African Countries
6
None
The premises are reported to be leased
R100
Full financial information was not forthcoming from respondents at the
subject, however, it was stated that the turnover per annum is approximately R3
000 000.
HAROON TAKOLIA & COMPANY
FEBRUARY
ZURICH INSURANCE BROKERS
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT
EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. C.O.D.
This is an established business which is not a general credit seeker
locally.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.32 |
|
|
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NNA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.