. MIRA INFORM REPORT
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Report Date : |
24.01.2014 |
IDENTIFICATION DETAILS
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Name : |
EVEREST SPORTS CC |
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Registered Office : |
1 Virginia Avenue, Cnr 15th Street , MARLBORO, Sandton, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
14.09.2005 |
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Com. Reg. No.: |
2005/130169/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Importers and distributors of sporting equipment and supplies e.g.
soccer balls. |
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No. of Employees : |
12 |
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 : |
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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 |
EVEREST SPORTS CC
1 Virginia Avenue, Cnr 15th Street , MARLBORO, Sandton, Gauteng
P O Box 787535, SANDTON, 2146
TELEPHONE NUMBER: +27
11 262 3738 / +27 11 262 6089
FAX NUMBER: +27 11 444 3234 / +27 86 509 2710
It was stated by the respondent that the subject moved in 2012 from Unit
16 Eastgate Business Park, Cnr South Road and Marlboro Drive, Sandton,
Johannesburg.
100% MRS S ASAD D.O.B. 1978/09/03
It is reported that the melmber’s husband, AHOOR ASAD, is also involved
in the subject, however, further details were not available.
None
STANDARD BANK, Sandton Branch. It was stated that the subject enjoys
overdraft facilities, secured by surety and a pledge of property by the member,
however, further details were not available. An email questionnaire was
forwarded to obtain details. We currently await a response.
14 September 2005
Registration Certificate Number: 2005/130169/23
The subject commenced as a new business.
VAT NUMBER: 4240223661
TAX NUMBER: 9303471164
Level 2 contributor (for 2013). The subject is in the process of
renewing their certification.
Importers and distributors of sporting equipment and supplies e.g.
soccer balls.
The subject imports approximately 90% of its supplies from Asia and a
company called NELCO TM and deals locally with :
EXCEL CARGO SERVICES Johannesburg
Independent sports shops and agents
South Africa
Sub Saharan African Countries directly through its customers
12
None
The premises are reported to be owned by the subject, bonded in favour
of STANDARD BANK.
R100
Full financial information was not forthcoming from respondents at the subject,
however, it was requested that an email questionnaire be forwarded, which would
enable them to decide whether they will assist with further details. This was
duly sent. We currently await a response.
S H KALLA AND COMPANY
FEBRUARY
ETANA INSURANCE BROKERS
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT
EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. +5 years R1 000 000 ±R1 000 000 30 days 30 days
Excellent
c/l
This is an established business meeting its one obtainable commitment timeously and is spoken of very highly by its supplier. The subject is not a general credit seeker as it imports most of its supplies. The subject is considered as equal to its normal business engagements. The lack of financial information should be borne in mind.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.99 |
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1 |
Rs.102.67 |
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Euro |
1 |
Rs.83.98 |
INFORMATION DETAILS
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Report Prepared
by : |
NNA |
RATING EXPLANATIONS
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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 |
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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.