.
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Report Date : |
28.01.2014 |
IDENTIFICATION DETAILS
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Name : |
TOTALLY HOME CC |
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Registered Office : |
Crown Road, Cnr of Diamond and |
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Country : |
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Date of Incorporation : |
26.02.2008 |
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Com. Reg. No.: |
2008/039836/23 |
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Legal Form : |
Private Company |
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Line of Business : |
Importer and wholesaler of hardware and giftware
such as stainless steel ware, plastic, clocks, wicker baskets, glassware |
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No of Employees : |
30 |
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 |
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Status : |
Satisfactory |
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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
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
TOTALLY
HOME CC
Crown Road
Cnr of Diamond and Kimberlite Road
ORMONDE
Johannesburg
Gauteng
Crown Road
Cnr of Diamond and Kimberlite Road
ORMONDE
Johannesburg
Gauteng
+27 11 829 3322
+27 11 839 3323
M IDNANI ID
No. 7004275963184
None
FIRST NATIONAL BANK,
Jabulani Mall Branch. The subject has an
overdraft facility, however, further information was declined by the
respondent.
26 February 2008
Registration Certificate Number: 2008/039836/23
The subject commenced trading in 2008
4290245689
9119946169
Importers
and wholesalers of hardware and giftware such as stainless steel ware, plastic,
clocks, wicker baskets, glassware
The subject imports 95% of its supplies from China,
India, Brazil and Turkey and deals locally with:
JAS FORWARDING
GLA
Retailers
such as Edcon and Wallmart
South
Africa
None
30
None
The
premises are reported to be owned by the subject
R100
The following estimated financial situation was
submitted as at 21 January 2014 :
STOCK R 50 000 000
DEBTORS
R 10 000 000
CREDITORS
R 1 000 000
TURNOVER per annum R
100 000 000
LAMBAT
& POOCHEE
FEBRUARY
ZURICH INSURANCE BROKERS
ACCOUNT
HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT
CREDIT PATTERN
1. 2 years
R1 000 000 ±R1 000
000 30 days 30 days Very Good
2. 9 months
R2 500 000 R 400 000
30 days 30 days
Very Good
This is an
established business which is not a general credit seeker locally. The subject is, however, meeting its local
commitments timeously and is considered equal to a maximum amount
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.71 |
|
|
1 |
Rs. 103.50 |
|
Euro |
1 |
Rs. 85.82 |
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.