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Report Date : |
09.06.2014 |
IDENTIFICATION DETAILS
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Name : |
E P MANUFACTURING (PTY) LTD |
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Registered Office : |
20 Bennet Street, Neave Industrial Business Park, Port Elizabeth, Eastern Cape |
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Country : |
South Africa |
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Date of Incorporation : |
28.05.2008 |
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Com. Reg. No.: |
2008/013138/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturers of
automotive components and are also involved in engineering. |
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No. of Employees : |
±150 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – March 31, 2014
|
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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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately 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 |
E P MANUFACTURING (PTY) LTD
EAST CAPE
MANUFACTURERS
20 Bennet Street
Neave Industrial
Business Park
PORT ELIZABETH
Eastern Cape
P O Box 5729
WALMER
6065
+27 41 451 1129
+27 41 451 1192
G JANOS
C A WILSON
J E CARAHER
N J DESILLA
The percentage of shareholding
was declined by the respondent.
EURO STEEL (PTY) LTD
PLASCUT 86 (PTY) LTD
(Registration
Certificate Number: 2001/011294/07), in which G JANOS is involved.
G JANOS ID No. 6103205157080
C A WILSON ID No. 6212195145086
J E CARAHER ID No. 6811255059085
N J DESILLA ID No. 6812065228084
NEDBANK, Business
Bank, Eastern Cape. The subject enjoys a small overdraft facility which is
unsecured. Utilisation of the overdraft is stated to be nil as credit balances
are normally maintained at the bank.
28 May 2008
Registration
Certificate Number: 2008/013138/07
The subject
commenced as a new business.
4270184924
9959003071
Level 6 contributor
Manufacturers of
automotive components and are also involved in engineering.
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.
Steel and automotive
South Africa
UK and Germany
±150
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.
DELOITTE AND TOUCHE
FEBRUARY
RC GREEN INSURANCE
BROKERS
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT
EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 5 years R8 000 000 R1 000 000 30 days
30 days Excellent
Insured CGIC Less 2.5%
2. 10 years R1 500 000 R1 900 000 30 days
30 days Very Good
3. +15 years R 100 000 R
10 000- 30 days 30 days Excellent
R 60 000 Less
2%
ACCOUNT HIGHEST AVERAGE TERMS
PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 8 years R10 000 000 R3 000 000 30 days 30 days Excellent
2. 15 years R2 500 000 R1 500 000 30 days
30 days Very Good
Insured: CGIC 2.5% discount
3. +15 years R1 000 000 R
70 000- 30 days 30 days Excellent
R 200 000 Less
2%
(These descriptions relate respectively by number to the above current
trade transactions):
1. Steel
2. Steel
3. Steel
This is an established business meeting its commitments timeously.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.20 |
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1 |
Rs.99.52 |
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Euro |
1 |
Rs.80.83 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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 |
-- |
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.