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Report Date : |
02.06.2014 |
IDENTIFICATION DETAILS
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Name : |
JAMCO SUPPLIES CC |
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Registered Office : |
Unit 4, 120 Main Street, Anderbolt, Boksburg, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
07.04.2011 |
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Com. Reg. No.: |
2011/051836/23 |
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Legal Form : |
Private Company |
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Line of Business : |
Importers and distributors of truck and trailer components such as air brake systems, bearings, axels and suspensions |
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No of Employees : |
06 |
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 : |
Slow But Correct |
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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 – March 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 16th largest in the
world. Even though the country's modern infrastructure supports a relatively
efficient distribution of goods to major urban centers throughout the region,
unstable electricity supplies retard growth. The global financial crisis
reduced commodity prices and world demand. GDP fell nearly 2% in 2009 but has
recovered since then, albeit slowly with 2014 growth projected at about 2%.
Unemployment, poverty, and inequality - among the highest in the world - remain
a challenge. Official unemployment is at nearly 25% of the work force, and runs
significantly higher among black youth. Eskom, the state-run power company, has
built two new power stations and installed new power demand management programs
to improve power grid reliability. Construction delays at two additional
plants, however, mean South Africa is operating on a razor thin margin;
economists judge that growth cannot exceed 3% until those plants come on line.
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 |
Note:
(The information contained in this report, other
than statutory data and comment by outside authorities, has been voluntarily
supplied by Officials of the subject):
JAMCO SUPPLIES CC
Unit 4
120 Main Street
ANDERBOLT
Boksburg
Gauteng
P
O Box 12722
NORTHMEAD
1500
TELEPHONE NUMBER: +27 11 894 2624 / 2657
FAX NUMBER: +27 86 767 9599
100% A
JOHN ID
No. 6509145373084
None
NEDBANK, Lakeside Mall. It was stated that the subject does not require overdraft facilities as credit balances are normally maintained at the bank.
7 April 2011
Registration Certificate Number: 2011/051836/23
The subject commenced trading in July 2013. It was stated by the respondent that A JOHN was a member at AUTOMAN TRUCK & TRAILER COMPONENTS CC. A JOHN sold the business and commenced the subject.
4460263447
9802600156
Level 4 contributor
Importers and distributors of truck and trailer components such as air brake systems, bearings, axels and suspensions.
It was stated that the subject imports some of its supplies.
Previously, we have divulged the names of the major suppliers in our reports. We have discontinued this practice to protect our valuable sources of trade information. This has become necessary because we now give a description of the goods or services to which the trade references relate. This gives our client the ability to assess whether the purchases are vital to the subject’s operation and whether we have only been given their essential suppliers that must be paid promptly for the subject to maintain its operation.
Truck and trailer industry
South Africa
African Countries
6
None
The premises are reported to be leased
R100
The following
estimated financial situation was submitted as at 14 May 2014:
STOCK R1 500 000
DEBTORS R1 600 000
CREDITORS R 500 000
TURNOVER (for last eight months) R4 000 000
J RAWAT & COMPANY
FEBRUARY
JACK & SEACH INSURANCE BROKERS
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT
EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Awaiting trade reference
2. 2014 R
150 000 Declined Too new to comment
3. 2013 R 50 000 R 50 000 30
days 30 days Very Good
c/l
4. 1 year Declined R
50 000- 30 days 30 days Very
Good
R 70 000
5. Oct 2013 R
130 000 R 20 000- 30
days 30 days Very Good
c/l R 80 000
(These descriptions relate respectively by number
to the above current trade transactions):
· Forwarding agent
· Spares
· Spares
· Parts
This is a very newly operative business meeting its commitments timeously. We would prefer to see secured dealings until the subject is better established.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.03 |
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1 |
Rs.98.91 |
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Euro |
1 |
Rs.80.33 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
MNL |
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 |
-- |
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.