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Report Date : |
10.03.2014 |
IDENTIFICATION DETAILS
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Name : |
FARPOINT TRADING 202 CC |
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Registered Office : |
20 Neutron Street, Uraniaville, Klerksdodrp 2570 |
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Country : |
South Africa |
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Date of Incorporation : |
18.06.2008 |
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Com. Reg. No.: |
2008/128213/23 |
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Legal Form : |
Private Company |
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Line of Business : |
Not Available |
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No. of Employees |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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 |
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, some components retard growth. The economy began to slow in the
second half of 2007 due to an electricity crisis. State power supplier Eskom
encountered problems with aging plants and meeting electricity demand
necessitating "load-shedding" cuts in 2007 and 2008 to residents and
businesses in the major cities. Subsequently, 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. State power
supplier Eskom 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 |
FARPOINT TRADING 202 CC
20 Neutron Street
Uraniaville
Klerksdorp
North West
2570
P O Box 10952
Klerksdorp
2570
TELEPHONE NUMBER: +27
18 469 1103
On investigation
contact was made with Daniel Labuschagne, a member at the subject, who stated
that the subject has numerous suppliers overseas but felt extremely
uncomfortable about divulging confidential company information without knowing
exactly the purpose of the request and who it originates from. It was,
however, stated that should our client be in a position to divulge the
identity of the insured, he would assist the investigator most willingly. It was further requested that the
investigator forward an email questionnaire which would be completed in the
interim. This was duly sent. Please advise if you are in a position to
divulge the required information so that further investigations may be
instituted.
Nevertheless, please see statutory information
obtained from CIPC below:
FARPOINT TRADING 202 CC
PHYSICAL ADDRESS:
20 Neutron Street
URANIAVILLE
Klerksdodrp
2570
POSTAL ADDRESS:
P O Box 10952
KLERKSDORP
2570
OCKERT JACOBUS BLOM
ID No. 5303175036089
Residential Address: La Casa Palazo No 3 Wilkoppies Klerksdorp 2570
Postal Address: P O Box 10952 Klerkdsdorp 2570
DANIEL ENSLIN LABUSCHAGNE
ID No. 5412205129085
Residential Address: 21 Redelinghuys Street Flamwood Klerksdorp 2570
Postal Address: P O Box 10952 Klerksdorp 2570
18 June 2008
Registration Certificate Number: 2008/128213/23
47302515778
9929964147
FEBRUARY
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.99 |
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|
1 |
Rs.102.07 |
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Euro |
1 |
Rs.84.53 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
-- |
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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.