|
Report Date : |
08.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
AKSTEX |
|
|
|
|
Formerly Known As : |
IRWING 905 CC |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
02.10.2002 |
|
|
|
|
Com. Reg. No.: |
2002/083503/23 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Wholesaler of textiles and fabrics, |
|
|
|
|
No of Employees : |
40 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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, 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. 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 |
AKSTEX AFRICA CC
Formerly: IRWING 905 CC, the name having been changed on 10 March 2003
GANIS CASH &
CARRY
48 Lilian Road
FORDSBURG
Johannesburg
Gauteng
P O Box 42755
FORDSBURG
2033
TELEPHONE NUMBER: +27 11 492 1689 / 1697
FAX NUMBER: +27 11 492 1707
100% A K GANI ID
No. 6707105192086
GOLDEN BAY PROPERTIES 298 CC - property
(Registration Certificate Number: 2005/147932/23)
STANDARD BANK, Fordsburg
Branch, Account Number 002521873. The
subject does not require an overdraft facility as credit balances are
maintained at the bank.
HABIB BANK, Oriental Plaza Branch. The subject has a trade facility of
R1 500 000 on which no interest is paid and which is otherwise
tantamount to an overdraft.
ALBARAK BANK, Killarney Branch. The subject has a trade facility of
R3 500 000 on which no interest is paid and which is otherwise
tantamount to an overdraft.
2 October 2002
Registration Certificate Number: 2002/083503/23
The subject was commenced as a new business
A K Gani formerly owned a
business named Far
4380204760
9756353141
Wholesale of textiles and fabrics, the brand
name being THE MAKOTI COLLECTION
The subject imports most of its supplies from
China and India and deals locally with:
TEXTRIM Durban
E AKHALWAYA
Johannesburg
MULTIFABRICS
Fabric retailers
South Africa
Namibia, Swaziland, Botswana and Lesotho
40 permanent employees having increased from 30 in February 2011
None
The premises are reported to be owned by GOLDEN BAY PROPERTIES 298 CC,
with a market value of R25 000 000, free of bond
R10
The following estimated financial situation
was submitted as at 6 February 2014:
STOCK R10
000 000
DEBTORS R 7 000 000
FIXED ASSETS R 5 000 000
CREDITORS R 2 000 000
TURNOVER per annum ±R30
000 000
AHMED BISMILLA INCORPORATED
FEBRUARY
None
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 4 years R 500 000
R250 000- 30 days 30 days Very
Good
R350 000
2. Old acc R1 000 000 R100 000 30
days 30 days Very Good (fluctuates)
3. 10
years R 150 000
R 50 000- 30 days 30 days Good
R150 000
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 8
years R1 500 000 R1 500 000 45
days 45 days Very Good
2. 10
years declined R
100 000 30 days 30 days Good
3. COD
account
4. Do
not give trade references
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 4
years R400 000 ±R100 000 30
days 30 days Excellent
2. 5+
years open acc
R 50 000- 30/60 days 30/60 days Good
R100 000
3. ±2
years open acc ±R100 000 30 days 30 days Very Good
(within)
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 10 years R1 000 000 R1 000 000 30/60 days 30/60
days Good
Open account
2. Few years R100 000 R 50 000- 60 days 60/90 days Good
R 100 000 by
arrangement – swop cheques
3. +3 years R300 000 R 200 000- 30 days 30 days Good
R 300 000 – fluctuates
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. +10 years Open R 5 000- 60 days 60 days Excellent
R 500 000
2. 5 years R1 500 000 R 300 000- 7 days 7 days Very Good
R 400 000
3. 5 years Open ±R 200 000 30
days 30 days Very Good
This is an established business meeting its commitments as arranged. The subject is considered equal to a maximum
amount of over 30 days.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.31 |
|
|
1 |
Rs. 101.77 |
|
Euro |
1 |
Rs. 84.68 |
INFORMATION DETAILS
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.