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Report Date : |
10.02.2014 |
IDENTIFICATION DETAILS
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Name : |
EEZI FOOD IMPORTS AND EXPORTS (PTY) LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
19.10.2012 |
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Com. Reg. No.: |
2012/189672/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Importer, packaging and distribution of food commodities |
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No of Employees : |
14 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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South Africa |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source
: CIA |
COMPANY NAME: EEZI FOOD IMPORTS AND
EXPORTS (PTY) LTD
TRADING NAME: CAPITAL EEZI FOODS
PHYSICAL ADDRESS: 108 Rissik Street
Beaconvale
PAROW
Cape
Town
Western
Cape
POSTAL ADDRESS: 108 Rissik Street
Beaconvale
PAROW
Cape
Town
8000
TELEPHONE NUMBER: +27 21 931 1803
FAX NUMBER: +27 21 931 8815
50% L A
EBRAHIM
50% A Q
EBRAHIM (Brother)
None
L A EBRAHIM ID
No. 7010215165087
A Q EBRAHIM (Brother) ID No. 8303285316089
FIRST NATIONAL BANK, Parow Branch. The subject does not require an overdraft
facility as credit balances are maintained at the bank.
19 October 2012
Registration Certificate Number: 2012/189672/07
Continued
The subject commenced trading in 2012 as a new
business. It was, however, stated that
the Directors were involved in family businesses prior to commencing the
business. Further information was not
forthcoming from the respondent.
4570263436
Importers, packaging and distribution of food
commodities under the brand names ROSA, CAPITAL, EEZI BRAND and THREE KINGS
The subject imports 95% of its supplies and deals
locally with :
PIONEER FREIGHT
Wholesalers, supermarkets and retailers
South Africa
Occasionally to African countries
14
None
The premises are reported
to be leased
R1 000 divided into 1 000 ordinary shares of R1
each
R100
The following estimated financial situation was
submitted as at 7 February 2014 :
STOCK R 3 000 000 – R 4 000 000
DEBTORS C.O.D.
+ R 1 000 000
CREDITORS R 600 000 – R 1 000 000
TURNOVER per annum R12 000
000
S SAMSODENE & ASSOCIATES
FEBRUARY
P C F A INSURANCE BROKERS
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT
CREDIT PATTERN
1. Awaiting email trade reference
This is a relatively new business which is
not a general credit seeker locally. In
the absence of a trade reference from the shipper, we would prefer not to
recommend a maximum figure but as soon as a reply is received to our email
request, a further report will be submitted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 62.31 |
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|
1 |
Rs. 101.77 |
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Euro |
1 |
Rs. 84.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<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.