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Report Date : |
05.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL AGRO
COMMODITIES (PTY) LTD |
|
|
|
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Registered Office : |
2210 Zeiss
Road, Laser Park, Honeydew, Roodepoort, Gauteng, 4070 |
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Country : |
South Africa |
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Date of Incorporation : |
14.07.2014 |
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Legal Form : |
Private Company |
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|
|
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Line of Business : |
Not Available |
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No of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New Company |
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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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 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 |
GLOBAL AGRO
COMMODITIES (PTY) LTD
2210 Zeiss
Road
Laser Park
ROODEPOORT
Gauteng
+27 11 026
0740
On
investigation contact was made with the respondent who stated that he is the director.
The respondent declined to assist with any information unless an email
questionnaire was forwarded. This was duly sent. To date no response has been
forthcoming. It was established that the registered entity is GLOBAGROCOM (PTY)
LTD Registration Certificate Number 2014/134403/07 t/a GLOBAL AGRO COMMODITIES.
The subject’s website indicates that this is a well-established trading
company. However, investigating further, the subject was found to be listed as
a 419 scam. Please see the article attached. In view of the above information
we have no basis upon which to recommend credit dealings. It is suggested that
this company be left to those already involved.
Please see
below Company Search on: GLOBAGROCOM (PTY) LTD
GLOBAGROCOM
(PTY) LTD
PHYSICAL
ADDRESS
2210 Zeiss
Road
LASER PARK
Honeydew
Roodepoort
Gauteng
4070
2210 Zeiss
Road
LASER PARK
Honeydew
Roodepoort
Gauteng
407
MATHIAS MEH
BONG
PPT No.
m010943
Physical Address:
2210 Zeiss Street. Laser Park, Honeydew, Roodepoort Gauteng 4070
Postal
Address: 2210 Zeiss Street. Laser Park, Honeydew, Roodepoort Gauteng 4070
Date
Appointed: 14 July 2014
14 July 2014
Registration
Certificate Number: 2014/134403/07
Not recorded
FEBRUARY
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.88 |
|
|
1 |
Rs.97.02 |
|
Euro |
1 |
Rs.76.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
|
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.