MIRA INFORM REPORT

 

 

Report Date :

01.08.2014

 

IDENTIFICATION DETAILS

 

Name :

YUN DA INTERNATIONAL TRADING CC

 

 

Registered Office :

20 Red Street, Site 231 Isithebe, Mandeni KwaZulu-Natal

 

 

Country :

South Africa

 

 

Date of Incorporation :

13.12.1999

 

 

Com. Reg. No.:

1999/068619/23

 

 

Legal Form :

Private Company

 

 

Line of Business :

Not Available

 

Note: We tried to confirm / obtain the detailed activity but the same is not available from any sources.

 

 

No of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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 – June 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

South Africa

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

C2

Very High Risk

 

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 16th largest in the world. Even though the country's modern infrastructure supports 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, albeit slowly with 2014 growth projected at about 2%. Unemployment, poverty, and inequality - among the highest in the world - remain a challenge. Official unemployment is at nearly 25% of the work force, and runs significantly higher among black youth. Eskom, the state-run power company, has built two new power stations and installed new power demand management programs to improve power grid reliability. Construction delays at two additional plants, however, mean South Africa is operating on a razor thin margin; economists judge that growth cannot exceed 3% until those plants come on line. 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

COMPANY NAME & ADDRESS

 

COMPANY NAME:                     YUN DA INTERNATIONAL TRADING CC

 

PHYSICAL ADDRESS:              20 Red Street

                                                Site 231 Isithebe

                                                MANDENI

                                                KwaZulu-Natal

 

On investigation a search at google revealed a telephone number of +27 31 656 1423, which, when dialled, is answered by a message stating that the number does not exist.  A further search for a contact number for the auditor listed at CIPC, JOHNNY KIT MAN POON, revealed no such auditors.  A further search on the subject’s registered address of P O Box 4021 Umhlanga Manor, Durban, 4021, revealed no additional contact details, as well as the addresses listed at CIPC for the two members.  A further search at google on the names of the two members revealed nothing, besides a facebook link.  It is requested, that should our client be able to assist with correct contact details, the investigator be advised soonest so that further investigation may be instituted.

 

Nevertheless, please see information obtained from CIPC which reads as follows:

 

 

COMPANY NAME:    

 

YUN DA INTERNATIONAL TRADING CC

 

 

ADDRESSES ON CIPC:

 

PHYSICAL ADDRESS: 

 

Unit 11, 23 Flanders Drive

Mount Edgecombe Island Business Park

DURBAN

4021

 

 

POSTAL ADDRESS:    

 

P O Box 4021

UMHLANGA MANORS

Durban

4021

 

 

 

MEMBERS:

 

XIAOLI ZENG

D.O.B.  610209

Residential Address: No 88 Edentrrace Paliiser Road Eden Glen 1609

Postal Address: No 88 Edentrrace Paliiser Road Eden Glen 1609

Interest Held: 50%

 

YONGSHENG ZHANG

ID No. 6209075323189

Residential Address: No 88 Edentrrace Paliiser Road Eden Glen 1609

Postal Address: No 88 Edentrrace Paliiser Road Eden Glen 1609

Interest Held: 50%

 

 

DATE REGISTERED:

 

13 December 1999

Registration Certificate Number: 1999/068619/23

 

 

VAT NUMBER:   

 

4570210338

 

 

TAX NUMBER:   

 

9479006141

 

 

YEAR END:   

 

FEBRUARY

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 60.24

UK Pound

1

Rs. 101.92

Euro

1

Rs. 80.69

 

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

DPT

 

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.