MIRA INFORM REPORT

Report Date :

18.02.2010

IDENTIFICATION DETAILS

Name :	JOHN AND PENNY GROUP (PTY) LTD
Registered Office :	7 Luderitz, J & P Flats Kristof Ndengu Street Ondanga, Windhoek
Country :	Namibia
Year of Establishment :	1996
Legal Form :	Limited Corporation
Line of Business :	Subject is provide of the following project management, catering services, food supplies, facility management, land and area restitution, also the removal of hazardous material, retail, the hospitality industry, civil and electrical Construction
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)
Namibia	B1	B1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

NAMIBIA - ECONOMIC OVERVIEW

The economy is heavily dependent on the extraction and processing of minerals for export. Mining accounts for 8% of GDP, but provides more than 50% of foreign exchange earnings. Rich alluvial diamond deposits make Namibia a primary source for gem-quality diamonds. Marine diamond mining is becoming increasingly important as the terrestrial diamond supply has dwindled. Namibia is the world's fourth-largest producer of uranium. It also produces large quantities of zinc and is a small producer of gold and other minerals. The mining sector employs only about 3% of the population. Namibia normally imports about 50% of its cereal requirements; in drought years food shortages are a major problem in rural areas. A high per capita GDP, relative to the region, hides one of the world's most unequal income distributions, as shown by Namibia's 59.7 GINI coefficient. The Namibian economy is closely linked to South Africa with the Namibian dollar pegged one-to-one to the South African rand. Namibia receives 30%-40% of its revenues from the Southern African Customs Union (SACU). Volatility in the size of Namibia's annual SACU allotment complicates budget planning. Namibia's economy remains vulnerable to volatility in the price of uranium. The rising cost of mining diamonds, increasingly from the sea, has reduced profit margins. Namibian authorities recognize these issues and have emphasized the need to increase higher value raw materials, manufacturing, and services, especially in the logistics and transportation sectors.

Source : CIA

SUBJECT'S NAME
Registered Name:	JOHN AND PENNY GROUP (PTY) LTD
Requested Name:	JOHN AND PENNY
Other Names:	None
ADDRESS AND TELECOMMUNICATION
Physical Address:	7 Luderitz, J & P Flats Kristof Ndengu Street Ondanga, Windhoek
Postal Address:	P. o. Box 23128
	Windhoek,
Country:	Namibia
Phone:	264-61375712/812278306/811272566/65246357/ 61246357
Fax:	264-65246311/65246359/61256131
Email:	infor@jandpgroup.biz
Website:	www.jandpgroup.biz
CREDIT OPINION
Financial Index as of December 2013 shows subject firm with a medium risk of credit. However, bank and credit information obtained reveal a history of prompt payments.
LEGAL
Legal Form:		Limited Corporation
Date Incorporated:		1996
Reg. Number:		Namibia
Nominal Capital		NAD. 10,000
Subscribed Capital		NAD. 10,000
Subscribed Capital is Subscribed in the following form:
		Position		Shares
Mr. John Akapandi Endjala		Chairman		51%
Mr. Fillpus N. Nakaambo		CEO
Mrs. Penny Kwaamushi Endjala		Director		29%
Group Community Care Trust		Shareholder		20%
RELATED COMPANIES
None		Parent company.
None		Subsidiary company.
None		Affiliated company.
None		Shareholder of subject firm.
None		Branches of the firm
OPERATIONS
Registered to operate as a provider of the following project management, catering services, food supplies, facility management, land and area restitution, also the removal of hazardous material, retail, the hospitality industry, civil and electrical Construction
Imports:		Asia, Middle East
Exports:		None
Trademarks:		None
Terms of sale:		Cash (40%) and 25-90 days (60%), invoices.
Main Customers:		Local agencies, stores, outlets
Employees:		40 employees.
Vehicles:		Several motor vehicles.
Territory of sales:		Namibia
Location:		Owned premises, 10,000 square feet,
AUDITORS AND INSURANCE
Auditors:		Information not available.
Insurance Brokers:		Information not available.
FINANCE
Currency Reported:		Namibian Dollar (NAD.)
Approx. Ex. Rate:		1 US Dollar = 10.92 Namibian Dollar
Fiscal Year End:		December 31, 2013
Inflation:		According to information given by independent sources, the inflation at December 31st, 2013 was of 13%.
Financial Information not Submitted
Profit and Loss (expressed in NAD.)
			2013
Sales			25,000,000
BANK
Bank Name:		Bank Windhoek Ltd,
Branch:		Windhoek, Namibia
Account Number:		8002966702
Comments:		None
TRADE REFERENCES
Experiences:		Good
NOTARIAL BONDS		None
COMMENTS / ADDITIONAL INFORMATION
This information was obtained from outside sources other than the subject company itself and confirmed the above subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 61.95
UK Pound	1	Rs. 104.02
Euro	1	Rs. 84.95

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.