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Report Date : |
07.06.2014 |
IDENTIFICATION DETAILS
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Name : |
FLAVOURS IMPORT
AND EXPORT (PTY) LTD |
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Registered Office : |
29 Lepus Road, Crown Mines, Johannesburg, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
09.05.2012 |
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Com. Reg. No.: |
2012/082080/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Importers and distributors
of flavour ingredients and flavourants |
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No of Employees : |
03 |
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 |
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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
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
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.
|
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)
FLAVOURS IMPORT AND
EXPORT (PTY) LTD
29
Lepus Road
Crown
Mines
Johannesburg
Gauteng
P
O Box 965
Crown Mines
2025
TELEPHONE NUMBER: +27
11 839 3770
FAX NUMBER: +27
11 837 1866
A
N SAIYAD
F
S CHAUDHRY
T
HUSSAIN
It
was stated by the respondent that the Directors are involved in other
businesses, however, names were not forthcoming.
A N SAIYAD ID
No. 7808086768180
F S CHAUDHRY Ppt
No. AV5122573
T HUSSAIN Ppt
No. BV6893942
HABIB
BANK, Fordsburg Branch. Further information
on banking facilities was not forthcoming from the respondent.
9
May 2012
Registration
Certificate Number: 2012/082080/07
The
subject commenced trading in May 2012 as a new business, however, the antecedents
of the Directors were unknown to the respondent
4370262372
Importers
and distributors of flavour ingredients and flavourants
The
subject imports 98% of its supplies but the respondent declined to assist with
the identity of the local clearing agent.
The
food and beverage industry
South
Africa
None
3
None
The
premises are reported to be leased
R1
000 divided into 1 000 ordinary shares of R1 each
R100
Full
financial information was not forthcoming from respondents at the subject and
outside authorities were unable to assist in this regard.
Unknown
FEBRUARY
Unknown
Not applicable
This is a relatively new
business. In view of the lack of
financial information and payment
pattern, it is suggested that all dealings be on a letter of credit basis only.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.20 |
|
|
1 |
Rs.99.52 |
|
Euro |
1 |
Rs.80.83 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
|
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Report Prepared
by : |
MNL |
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 |
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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 |
|
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.