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Report Date : |
18.03.2014 |
IDENTIFICATION DETAILS
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Name : |
INSULATION ADVANCED TECHNOLOGY CC |
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Formerly Known As : |
ARCANE TRADING CC |
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Registered Office : |
4 Klerk Street ALRODE Alberton Gauteng P O Box 4777 Dainfern North 2021 |
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Country : |
South
Africa |
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Date of Incorporation : |
30.01.2008 |
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Legal Form : |
Private Company |
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Line of Business : |
Importers and distributors of electrical insulation
materials such as Mica based products, transformer insulation, rigid
laminates, flexible laminates, sleeving, cable, adhesive tapes |
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No. of Employees : |
49 |
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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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, 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 |
ARCANE TRADING CC
ISOTEC
Cnr. Dan Jacobs & Arnold Street ALRODE Alberton Gauteng
+27 11 908 6929
+27 11 908 0678
On investigation it was established
that ARCANE TRADING CC (Registration Certificate Number: 2008/017651/23) trading as ISOTEC changed its
name to INSULATION ADVANCED TECHNOLOGY CC on 9 April 2009.
Please see the report on
INSULATION ADVANCED TECHNOLOGY CC attached.
INSULATION ADVANCED
TECHNOLOGY CC
ARCANE TRADING CC, the name having been changed on 9 April 2009.
ISOTEC
4 Klerk Street
ALRODE
Alberton
Gauteng
P O Box 4777
DAINFERN NORTH
2021
+27 11 908 6929
+27 11 908 0678
The subject moved in 2011 from Cnr Dan Jacobs and Arnold
Street, Alrode, Alberton, Gauteng.
100% A SCHIMPER ID No. 6605275003085
None
NEDBANK, Fourways branch, account number: 1684135222. It was stated that the subject does not require overdraft facilities as credit balances are maintained at the bank.
30 January 2008
Registration Certificate Number: 2008/017651/23
The subject commenced active operations in July 2008. It was stated that A SCHIMPER was previously the Managing Director of a company named POWERTECH CALIDUS for 4 years prior to commencing the subject.
4200243865
9171862163
Level 5 contributor, however, the subject is in the process of obtaining new certification.
Importers and distributors of electrical insulation materials such as Mica based products, transformer insulation, rigid laminates, flexible laminates, sleeving, cable, adhesive tapes, etc. which consist of leading brands such as COGEBI, MINCO, FIXON, KREMPEL, FAVIER, SUPERIOR ESSEX, etc.
The subject imports most of its supplies from India, China, France, Belgium and Italy and deals locally with:
ADVANCED PRODUCT TECHNOLOGY
DELBA ELECTRICAL
BARLOWORLD
BUFFALO EXECUTAPES
ZIEGLER SA
Manufacturers and repairers of electrical motors and transformers
AREA OF DISTRIBUTION AND SELLING: South Africa
EXPORTS: None
TOTAL EMPLOYEES: ±49
It was reported that the subject has two branches in Cape Town
All premises are reported to be leased
R100
The following estimated financial situation was submitted as at 04 December 2012:
STOCK R 4 000 000
DEBTORS R 3 000 000
CREDITORS R 2 000 000
TURNOVER per month R32 000 000
H E FOURIE Germiston South
FEBRUARY
INTERSURE INSURANCE BROKERS
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 07/2008 R20 000 R 434 30
days New a/c
c/l
2. 07/2008 R20 000 R20
000 30 days New a/c Good
3. Very
new account
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. July’08 R20 000 R15 000- 30 days 30
days Very good
c/l R90 000 1˝%
2. July’08 Declined Declined 30 days 30 days Good
3. July’08 R10 000 R2
000 30 days 30 days Good
c/l
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2008 R
50 000 R 15 000 30
days 30 days Good
2. 2008 R100 000 R100 000 30 days 30 days Excellent
2.5%
3. Awaiting
a fax trade reference
4. Do not
give trade references
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT
EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2008 R 20 000 R
5 000- 30 days 30
days
Good R
19 000
2. 2008 R100 000
R100 000- 30 days 11-30 days Excellent
R300 000 Less
2.5%
3. Do not give trade references
4. Sep 2008 R 20 000 R
2 000- 30 days 30 days Good
R
6 000 Less 2.5%
5. 2013 R200 000 ±R500 000 7 days 7 days Very good
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2013 R500 000 ±R300 000 7 days 7 days Good
2. 2008 R300 000 ±R200 000 30 days 30 days Excellent
3. 2008 Open
Acc
R 10 000- 30 days 30
days Very good
R100 000
This is an established business meeting its commitments timeously.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.52 |
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|
1 |
Rs.102.22 |
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Euro |
1 |
Rs.85.23 |
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 |
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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.