MIRA INFORM REPORT

 

 

Report Date :

24.06.2014

 

IDENTIFICATION DETAILS

 

Correct Name :

AVANDA ENTERPRISES (PTY)LTD

 

 

Registered Office :

28 Henwood Road, Pinetown, Kwazulu Natal

 

 

Country :

South Africa

 

 

Date of Incorporation :

04.05.2012

 

 

Com. Reg. No.:

K2012/079976/07

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

·         Engaged in supplying and manufacturing Maize Snacks and Extruded Snacks

·         Engaged in wholesale trading in foodstuffs

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Unknown

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

 

Subject Name

AVANDA ENTERPRISES (PTY)LTD

Country

South Africa

Subject Contact Person

DONOVAN HENDRY PILLAY - Director

Assessment

This is a new business. On investigation contact was made with DONOVAN HENDRY PILLAY, the director who requested the name principal enquirer before he could assist.

 

Please see the available information on the subject below.

 

 

Company Information

 

Registered Name

AVANDA ENTERPRISES (PTY)LTD

Trading as/ Division Name

None

Previous Name

None

Date of Name Change

None

Registration Number

K2012/079976/07

Registration Date

2012/05/04

Date Commenced Trading

2012-05-04

Age of Business

2 Years

History of Business

The subject commenced trading as a new company in 2012.

History of Principals

There is 1 active director within the company.

Shareholders/Members/Partners of subject and % holding

Unavailable

Authorised Share Capital

R 0.00

Issued Share Capital/Members Contribution

R 0.00

Status

In Business

Operations Assessment

The subject supplies and manufacture maize snacks and extruded snacks

Industry/ Customers

General retailers

Export

Unknown

Import

Unknown

Major Industry Code / SICC

61221

Definition of Code

Wholesale trade in foodstuffs

Head Office Physical Address

28 HENWOOD ROAD, PINETOWN, KWAZULU NATAL

Head Office Postal Address

PO BOX 257, UMKOMAAS, KWA-ZULU NATAL, 4170

Current Tel Number

0317011611

Cell Number

0828783390

Current Fax Number

Unavailable

Current Email Address

pillay.donovan@gmail.com

Web Site Address

Unavailable

 

·         Auditors Information - No Information on Record Previous

·         Auditors Information - No Information on Record

·         Tax Information - No Information on Record 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

·         Information - No Information on Record 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

DIRECTOR

DONOVAN HENDRY PILLAY

 

 

Company Structure Information - No Information on Record

 

Note: One level up and all levels down

 

Key Deals - No Information on Record Trade References Information

- No Information on Record

 

 

Adverse Information on Subject

 

·         Judgements - No information on record

·         Business Rescue - No Information on Record

·         Default Listing - No information on record

·         Notarial Bonds - No information on record

·         Bank Information - No Information on Record

·         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

1

Average Age of Active Principals

40

 

Active Principals Principal - 1 of 1 DONOVAN PILLAY

Surname

PILLAY

First Name

DONOVAN

Other Names

Unavailable

Marital Status

 

ID Number

7404225196085

Verified ID Number

Yes

Current Age

40 Years 1 Months

Designation

Director

Status

Active

Appointment Date

2013/01/24

Physical Address (at time of Appointment)

4 SWALLOW ROAD, NEW HAVEN, UMKOMAAS, 1470

Postal Address

4 SWALLOW ROAD, NEW HAVEN, UMKOMAAS, 1470

Current Tel Number

0317011611

Cell number

0828783590

Shareholding/Membership

0.00

 

Principal's Adverse - No information on record

 

Business Information for DONOVAN PILLAY Principal

Current Business Interests

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

AVANDA

ENTERPRISES

(PTY)LTD

K2012/079976/07

In Business

2 Years 2 Months

0

No

 

KB DUNNETT TWENTY FOUR INVESTMENT CC

B1998/055735/23

Deregistration Process

16 Years 4 Months

1

No

 

 

Principal's Previous Business Interests - No information on record

Principal Deeds Information Property

Interests for DONOVAN PILLAY

Title Deed No.

ST43149/2003

Erf/Site No.

831,0

Deeds Office

PIETERMARITZBURG

Physical Address

2 PULLINGER MALVERN QUEENSBURGH

Property Type

U

Extent / Size

 

Purchase Date

2003/04/09

Purchase price

 

% Ownership

0.00

Bond Holder

STANDARD BANK OF SOUTH AFRICA L

Bond Number

SB246912003

Bond Amount

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.19

UK Pound

1

Rs.102.56

Euro

1

Rs.81.91

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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

 

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%)

 

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