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Report Date : |
06.03.2014 |
IDENTIFICATION DETAILS
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Name : |
NATIONAL FABRICS (PTY)
LTD |
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Registered Office : |
20 Bonanza Street Extension 19 SELBY Johannesburg Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
12.10.1988 |
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Com. Reg. No.: |
1988/005824/07 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesalers and
distribution of fashion fabrics and textiles |
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No. of Employees : |
50 |
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 : |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
South Africa |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
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 15th largest in the world. Even though the country possesses modern infrastructure that support 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. Unemployment, poverty, and inequality remain a challenge, with official unemployment at nearly 25% of the work force. Eskom, the state-run power company, has built two new power stations and installed new power demand management programs to improve power grid reliability. 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 |
NATIONAL FABRICS (PTY) LTD
MSR NATIONAL
20 Bonanza Street
Extension 19
SELBY
Johannesburg
Gauteng
P O Box 42762
FORDSBURG
2033
+27 11 556 0800
+27 11 556 0811
M EBRAHIM
I EBRAHIM (Brother)
O H E MOOSA’S WAREHOUSE
(PTY) LTD, which company is dormant. The
assets and operations have been incorporated into the subject
M EBRAHIM ID
No. 7503065201085
I EBRAHIM ID
No. 7909165198081
NEDBANK, Business
Centre, Central Gauteng. Further
information on banking facilities was not forthcoming from the respondent.
12 October 1988
Registration Certificate
Number: 1988/005824/07
It was stated that the
subject commenced trading in 1988
4790250213
9580295641
Wholesalers and distribution
of fashion fabrics and textiles
The subject imports 98%
of its supplies and deals locally with:
SAVINO DEL BENE
SAEL
Fabric retailers and
chain stores
South Africa
None
±50
None
The premises are
reported to be owned by the subject, however further information was not
forthcoming from the respondent.
R1 000 divided into 1
000 ordinary shares of R1 each
R100
Full financial
information was not forthcoming from respondents at the subject, nevertheless
it was stated that the turnover per annum is in excess of R1 000 000.
GORDON & PARTNERS
FEBRUARY
SALEYS AGENCIES
INSURANCE BROKERS
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. +5 years R2 000 000 R 500 000- 30 days 30 days Good
R 600 000
2. Do not give trade references
This is an established business which imports most of its supplies. The subject is meeting its obtainable local commitment timeously. The subject is considered equal to €130 000 over 30 days. The lack of financial information should be borne in mind.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.86 |
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|
1 |
Rs.103.06 |
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Euro |
1 |
Rs.84.92 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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 |
|
<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.