MIRA INFORM REPORT

 

 

Report Date :

12.06.2014

 

IDENTIFICATION DETAILS

 

Name :

SHIV DIAMONDS CC

 

 

Registered Office :

Suite 423, S.A. Diamond center, 225 Main Street, Johannesburg, 2001 P O Box 1326, lenas$ia, 1820

 

 

Country :

South Africa

 

 

Date of Incorporation :

17.05.2004

 

 

Com. Reg. No.:

B2004/047530/23

 

 

Legal Form :

Private Company

 

 

LINE OF BUSINESS :

MANUFACTURES OF DIAMOND -STUDDED JEWELRY FOR INTERNATIONAL MARKETS AS WELL AS THE WHOLESALE OF ROUGH CUT DIAMONDS.

 

 

No. of Employees

05

 

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

 

Status :

Satisfactory

Payment Behaviour :

No complaints

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

Moderate Risk

 

B2

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

 

 

 

Company name and address

 

Subject Name

SHIV DIAMONDS CC

Country

South Africa

Enquiry Terms

COD

Subject Contact Person

SEGERAN MOONSAMY - Accountant

Assessment

This is a well-established family business. On investigation contact was made with SERGERAN MOONSAMY who requested a principal enquirer before he could assist with any further information. The subject is meeting commitments timeously with suppliers. We are awaiting 1 further trade reference. We obtained bank code B for R 1 000 000 over a period of 30 days. Please see the available information on the subject below.

 

 

Company Information

 

Registered Name

SHIV DIAMONDS CC

Trading as/ Division Name

None

Previous Name

None

Date of Name Change

None

Registration Number

B2004/047530/23

Registration Date

2004/05/17

Date Commenced Trading

2004-05-17

Age of Business

9 Years 2 Months

History of Business

The subject commenced trading as a new business in 2004.

History of Principals

There are 3 active members within the business.

Shareholders/Members/Partners of subject and % holding

37 % - DAHYABHAI KESHAVBHAI PATEL, 37 % -PRADIPKUMAR DAHYABHAI PATEL, 26 % -MANOJKUMAR DAHYABHAI PATEL

Authorised Share Capital

 

Issued Share Capital/Members Contribution

 

Status

In Business

Operations Assessment

The company operates as manufactures of diamond -studded jewelry for international markets as well as the wholesale of rough cut diamonds.

Industry/ Customers

The jewelry industry

Export

Yes

Export Countries

 

Import

Yes

Import Countries

India

Major Industry Code / SICC

61393

Definition of Code

Wholesale trade in precious stones, jewellery and silverware

Head Office Physical Address

SUITE 423, S.A. DIAMOND CENTER, 225 MAIN STREET, JOHANNESBURG, 2001

Head Office Postal Address

P O BOX 1326, LENASIA, 1820

Current Tel Number

0113348548

Cell Number

Unavailable

Current Fax Number

0113346806

Current Email Address

shivdiamonds.sa@mail.com

Web Site Address

None

Comments

 

 

 

Auditors Information

 

Company Registered Name

PRIMESH AND ASSOCIATES CC

Trading Name

None

Registration Number

B2004/090314/23

Physical Address

SA DIAMOND CENTRE, 240 COMMISSIONER STREET, JOHANNESBURG, 2001

Postal Address

PO BOX 1326, LENASIA, 1820

Contact Person

SEGERAN MOONSAMY

Contact Number

0113342048

Email

None

Principals

1

Judgements Against Subject

No information found on file

Judgements Against Principals

No information found on file

Subject Verified as Client

Yes

Practice Number

633

VAT Number

4110225952

Tax Number

9339672157

BEE Status

None

Financial Year End

February

No of years in Business

1 Years 5 Months

Website

None

Comment

 

 

Previous Auditors Information - No Information on Record

 

 

Tax Information

 

Vat Number

4630214817

Status

ACTIVE

Vat Liable Date

2004/09/01

Tax Number

9314548158

Tax Clearance Expire Date

 

Financial Year End

February

Comment

 

 

 

Black Economic Empowerment Information - No Information on Record

ISO Information - No Information on Record

Work Mans Information - No Information on Record

 

 

Company Structure

 

Subsidiaries Information - No Information on Record

Employees

 

Number of Employees

5

1. Salaried employees

5

2. Waged employees

0

3. Permanent employees

5

4. Casual employees

0

5. Contracted employees

0

Comment

The total number of employees includes the members of the company

 

Company Fleet Information - No Information on Record

 

Offices Information - No Information on Record

Branch Information - No Information on Record

 

 

Management Overview

 

Organisation Chart

 

Level

Position

Name

Comment

 

1

Member

DAHYABHAI KESHAVBHAI PATEL

 

 

1

Member

PRADIPKUMAR DAHYABHAI PATEL

 

 

1

Member

MANOJKUMAR DAHYABHAI PATEL

 

 

Company Structure (Ownership)

 

Holding

Company

Sub

Comment

37 % - DAHYABHAI KESHAVBHAI PATEL

SHIV DIAMONDS CC

None

 

37 % - PRADIPKUMAR DAHYABHAI PATEL

SHIV DIAMONDS CC

None

 

26 % - MANOJKUMAR DAHYABHAI PATEL

SHIV DIAMONDS CC

None

 

 

 

Key Deals - No Information on Record

 

 

Trade References

 

Trade Reference nr

Supplier

Contact

Surety Value

Notarial Bonds

Comment

1

AKSHAR INVESTMENTS CC

0113348698

 

 

 

2

CS DIAMONDS CC

0538316529

 

 

 

3

FLAWLESS DIAMONDS

0113349181

 

 

Awaiting trade reference.

 

 

Trade References Detail

 

Nr

Age of Acc

Terms

Average Purchases

Terms Taken

Comment

1

9 Years

30 Days

R100000

30 Days

Good account. The subject has an open account with the suppliers.

2

10 Years

30 Days

R 2000000

30 Days

Good account. The subject has an open account with the supplier.

 

 

Adverse Information on Subject

 

Judgements - No information on record

BusinessRescue - No Information on Record

Default Listing - No information on record

Notarial Bonds - No information on record

 

Bank

NEDBANK

Branch

BUSINESS CENTRAL GAUTENG

Brach Code

198765

Bank Account Number

1284098354

Type of Account

CHEQUE

Account Name

SHIV DIAMONDS CC

Overdraft Facilities

The company has a overdraft facility

Bank Code

B - For R 1 000 000

Bank Comment

The subject's bankers consider them good for all busines engagements

 

Bank Code History - No Information on Record

Previous Bank Account Information - No Information on Record

Deeds Information - No information on record

 

 

Principals

 

Number of Principals

3

Average Age of Active Principals

42

Active Principals Principal - 1 of 3 MANOJKUMAR PATEL

Surname

PATEL

First Name

MANOJKUMAR

Other Names

DAHYABHAI

Marital Status

 

ID Number

E2551627

Verified ID Number

No

Current Age

31 Years 1 Months

Designation

Member

Status

Active

Appointment Date

2012/02/24

Physical Address (at time of Appointment)

11 DELPHINIUM STREET, WINCHESTER HILLS, EXT 2, 1614

Postal Address

P O BOX 146587, BRACKEN GARDENS, 1452

Current Tel Number

Unavailable

Cell number

Unavailable

Shareholding/Membership

26 %

 

Principal's Adverse - No information on record

 

Business Information for MANOJKUMAR PATEL

Principal's Current Business Interests - No information on record

 

Principal's Previous Business Interests - No information on record

Principal's Deeds Information - No information on record

 

 

Principal - 2 of 3

PRADIPKUMAR PATEL

Surname

PATEL

First Name

PRADIPKUMAR

Other Names

DAHYABHAI

Marital Status

 

ID Number

H7696395

Verified ID Number

No

Current Age

36 Years 6 Months

Designation

Member

Status

Active

Appointment Date

2006/10/04

Physical Address (at time of Appointment)

UNIT 5, RIDEWAY HEIGHTS, 12-13 BOURKE CLOSE, MONDEOR, 2091

Postal Address

P O BOX 1326, LENASIA, 1820

Current Tel Number

Unavailable

Cell number

Unavailable

Shareholding/Membership

37 %

 

 

Business Information for MANOJKUMAR PATEL

 

Principal's Current Business Interests - No information on record

Principal's Previous Business Interests - No information on record

 

Principal's Deeds Information - No information on record

Principal - 3 of 3 DAHYABHAI PATEL

 

Surname

PATEL

First Name

DAHYABHAI

Other Names

KESHAVBHAI

Marital Status

 

ID Number

Z1930849

Verified ID Number

No

Current Age

59 Years

Designation

Member

Status

Active

Appointment Date

2004/05/17

Physical Address (at time of Appointment)

UNIT 5, RIDGEWAY HEIGHTS, 12-13 BOURKE CLOSE, MONDEOR, 2091

Postal Address

P O BOX 1326, LENASIA, 1820

Current Tel Number

Unavailable

Cell number

Unavailable

Shareholding/Membership

37 %

 

 

Business Information for MANOJKUMAR PATEL

Principal's Current Business Interests - No information on record

 

Principal's Previous Business Interests - No information on record

Principal's Deeds Information - No information on record

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.33

UK Pound

1

Rs.99.42

Euro

1

Rs.80.32

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

NIS

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.