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Report Date : |
18.08.2014 |
IDENTIFICATION DETAILS
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Name : |
A Q HOLDINGS (PTY) LTD |
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Registered Office : |
14 Jackson Street, KWA DUKUZA,
KwaZulu-Natal P O Box 661, 4450 |
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Country : |
South Africa |
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Date of Incorporation : |
30.08.1972 |
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Legal Form : |
Private Company |
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Line of Business : |
Subject is engaged in specialising in the trade of rice pulses,
grains, spices and legumes. |
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No of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
South Africa |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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 |
A Q HOLDINGS (PTY)
LTD
14 Jackson Street
KWA DUKUZA
KwaZulu-Natal
P O Box 661
KWA DUKUZA
4450
+27 32 552 3610 / 2950 / 3612
+27 32 552 3656
100% F A Q MANGERAH
The shareholding of the subject changed in January 2009 when A Q
MANGERAH (Snr) passed away.
None
MRS F B A MANGERAH ID
No. 4908170094080
MS A MANGERAH (daughter) ID
No. 7506110233086
F A Q MANGERAH (son - twin) ID
No. 7406160235083
MS F A Q MANGERAH (daughter – twin) ID
No. 7406165266083
MS M MANGERAH (daughter) ID
No. 7811230152087
STANDARD BANK, Stanger branch, Account Number: 052730018. It was stated that the subject enjoys
overdraft facilities. Utilisation of the
overdraft is stated to be nil as credit balances are normally maintained at the
bank.
30 August 1972
Registration Certificate Number: 1972/009095/07
The business was originally started by A Q
MANGERAH (Snr) and it was stated that that his sons and daughters worked with
him in the business for a number of years.
When he passed away in 2009, his son, F A Q MANGERAH took over the
business.
4940114285
9010294206
Non-compliant
International trading company specialising in the trade of rice pulses,
grains, spices and legumes, however, it was stated that the subject is not
limited to any particular brand name.
Previously, we have
divulged the names of the major suppliers in our reports. We have discontinued this practice to protect
our valuable sources of trade information.
This has become necessary because we now give a description of the goods
or services to which the trade references relate. This gives our client the ability to assess
whether the purchases are vital to the
subject’s operation and whether we have only been given their essential
suppliers that must be paid promptly for the subject to maintain its operation.
Retailers, wholesalers and spice mills
Southern Africa
None
20 having increased from 6 reported in May 2013
None
The premises are reported to be owned by the subject valued in the
region of R5 000 000, free of bond
R1 000 divided into 1 000 ordinary shares of R1
each
R1 000 (confirmed by auditors)
The following estimated financial situation was
submitted as at 13 August 2014:
STOCK ±R 20 000 000
DEBTORS ±R 50 000 000
CREDITORS ±R 20 000 000
TURNOVER per annum ±R200
000 000
The turnover has
increased from R80 000 000 reported in May 2013
NKONKI KwaZulu-Natal
FEBRUARY
NONE
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. ±6
years R 60 000 R 40 000 - 30
days 30 days Good
R 60 000
2. ±10
years R300 000 R200 000 - 7 days 7 days Very
Good
R300
000
3. ±5
years R300 000+ R300 000+ 30
days 30 days Excellent
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 10
years open R 60 000 - 30 days 30
days Very Good
R120
000
2. 2
years open R 40 000 - 60 days 60
days Excellent
R260
000
3. 5
years open R 50 000 - 7
days
7 days Very Good
R100
000
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 15
years open acc
R 60 000 - 30
days 30 days Good
R 90
000
2. 9
years open acc ±R500 000 30 days 30 days Excellent
3. 10
years open acc
R 55 000 - 30
days 30 days Good
R100 000
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. April 2006 undisclosed R 5
000- C.O.D C.O.D Very Good
R 50 000
2. Old R 20 000 R 10 000- 30
days 30 days Very Good
R 20 000
3. 5 years R1
000 000 R500 000 30 days 30 days Excellent
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1.
20+ years Open
Acc Declined 30 days 30 days Excellent
2.
2006 R75 000 ±R
30 000 30 days 30 days Excellent
3.
March 2006 R
5 000 - Cash Account Very Good
R100 000
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1.
Aug 2002 R425 000 R400 000 30 days 30 days Good
2.
C.O.D.
3.
+5 years Open
Acc R500 000 30 days 30
days Very Good
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Unable to obtain trade reference
2. March 2006 Open R 30 000- C.O.D. C.O.D. Good
R 120 000
3. +10 years Open R1 000 000 30 days 30
days Very Good
(These descriptions
relate respectively by number to the above current trade transactions):
2. Freight forwarders
3. Grains, spices etc
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 10 years R 425 000 R 425 000 30 days 30
days Good
2. 2006 N/a R 50 000- C.O.D. C.O.D. Good
R 100 000
3. Awaiting email trade reference
(These descriptions
relate respectively by number to the above current trade transactions):
1. Clearing agent
2. Clearing agent
This is an established business meeting one of its commitments timeously
and the other obtainable commitment on a C.O.D. basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.06 |
|
|
1 |
Rs.101.84 |
|
Euro |
1 |
Rs.81.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
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|
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|
Report Prepared
by : |
SMN |
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 |
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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 |
|
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 |
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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 |
|
<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.