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Report Date : |
21.03.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
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Country : |
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Date of Incorporation : |
19.08.1992 |
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Com. Reg. No.: |
M1992/004728/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Engaged in exporting, wholesaling & retailing of household goods. (We tried to confirm / obtain the detailed activity but the same is not
available from any sources.) |
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No. of Employees |
12 |
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 – 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 |
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Subject Name |
AFRICA FOOD AND CHEMICAL EXPORT COMPANY (PTY)LTD |
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Country |
South Africa |
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Subject Contact Person |
ZAIRA JOOSAB - Financial Manager |
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Assessment |
This is an established business. On investigation contact was made with ZAIRA JOOSAB, the financial manager who assisted with all of the required information. The subject is meeting commitments timeously with its supplier. Majority of the subjects suppliers are based internationally as such only one trade reference was made available. Please see the available information obtained below.. |
|
Registered Name |
AFRICA FOOD AND CHEMICAL EXPORT COMPANY
(PTY)LTD |
|
Trading as/ Division Name |
None |
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Previous Name |
None |
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Date of Name Change |
None |
|
Registration Number |
M1992/004728/07 |
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Registration Date |
1992/08/19 |
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Date Commenced Trading |
1992-08-19 |
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Age of Business |
21 Years 7 Months |
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History of Business |
The subject commenced trading as a new company in 1992. |
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History of Principals |
There is 1 active principal within the company |
|
Shareholders/Members/Partners of subject and % holding |
20 % - AHI AKOONJEE FAMILY TRUST, 20 % -
ASI AKOONJEE FAMILY TRUST, 20 % - MI AKOONJEE FAMILY TRUST, 20 % - SI
AKOONJEE FAMILY TRUST, 20 % - S AKOONJEE FAMILY TRUST |
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Status |
In Business |
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Operations Assessment |
The subjects main operation is the exporting, wholesaling & retailing household goods. |
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Industry/ Customers |
The subject main customers are wholesalers, retailers and manufactures. |
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Export |
Yes |
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Export Countries |
Australia |
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Import |
Yes |
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Import Countries |
Bulgaria, China, India |
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Major Industry Code / SICC |
61399 |
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Definition of Code |
Wholesale trade in other household goods n.e.c |
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Head Office Physical Address |
80 HUNSLET ROAD, PHOENIX INDUSTRIAL PARK, DURBAN, 4080 |
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Head Office Postal Address |
P O BOX 60512, PHOENIX, 4080 |
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Current Tel Number |
0315089500 |
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Cell Number |
Unavailable |
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Current Fax Number |
0315007864 |
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Current Email Address |
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Web Site Address |
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Company Registered Name |
DESIA JADWAT INC |
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Trading Name |
None |
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Registration Number |
1995/002083/21 |
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Physical Address |
1st KENILWORTH PARK, 202 BRICKFIELD ROAD, OVERPORT, 4000 |
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Postal Address |
PO BOX 4969, DURBAN, 4000 |
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Contact Person |
ZACK VAHAD |
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Contact Number |
0312043311 |
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Email |
Unavailable |
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Principals |
5 |
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Judgements Against Subject |
Unavailable |
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Judgements Against Principals |
Unavailable |
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Subject Verified as Client |
Yes |
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Practice Number |
914991E |
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VAT Number |
4340151390 |
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Tax Number |
Unavailable |
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BEE Status |
Unavailable |
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Financial Year End |
February |
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No of years in Business |
21 Years 4 Months |
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Website |
Previous Auditors Information - No Information on Record
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Vat Number |
4160166676 |
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Status |
ACTIVE |
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Vat Liable Date |
1997/07/01 |
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Tax Number |
9003142206 |
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Financial Year End |
February |
Black Economic
Empowerment Information - No Information on Record
ISO Information - No
Information on Record
Work Mans Information
- No Information on Record
Subsidiaries
Information - No Information on Record
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Employees |
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Number of Employees |
12 |
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1. Salaried employees |
12 |
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2. Waged employees |
-- |
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3. Permanent employees |
12 |
Company Fleet Information - No Information on Record
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Offices |
Offices |
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Head Office Owned/ Rented |
Leased |
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Rental Company |
ZEULAND INVESTMENT |
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Type of Premises |
Warehouse with office blocks |
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Branch
Information |
||
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Branches Names |
Country |
Province |
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RONHILL TRADING |
South Africa |
GAUTENG |
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KOKSTAD WHOLESALERS |
South Africa |
EASTERN CAPE |
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TRADE PORT DISTRIBUTION |
South Africa |
KZN |
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Branch Detail
Information |
||
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Branches Owned/ Rented |
Owned |
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Owned by |
AFRICA FOOD AND CHEMICAL EXPORT COMPANY (PTY) LTD |
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Type of Premises |
Warehouse and office blocks |
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Branches Owned/ Rented |
Owned |
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Owned by |
AFRICA FOOD AND CHEMICAL EXPORT COMPANY (PTY) LTD |
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Type of Premises |
Warehouse and office blocks |
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Branches Owned/ Rented |
Owned |
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Owned by |
AFRICA FOOD AND CHEMICAL EXPORT COMPANY (PTY) LTD |
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Type of Premises |
Warehouse and office blocks |
Organisation Chart
Level Position Name
1 DIRECTOR S.I AKOONJEE
2 FINANCIAL MANAGER ZAIRA JOOSAB
Company Structure
(Ownership)
Note: One level up and all levels down
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Holding |
Company |
Sub |
Comment |
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20 % - AHI
AKOONJEE FAMILY TRUST |
AFRICA FOOD AND CHEMICAL EXPORT COMPANY (PTY) LTD |
None |
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20 % - ASI
AKOONJEE FAMILY TRUST |
AFRICA FOOD AND CHEMICAL EXPORT COMPANY (PTY) LTD |
None |
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20 % - MI
AKOONJEE FAMILY TRUST |
AFRICA FOOD AND CHEMICAL EXPORT COMPANY (PTY) LTD |
None |
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20 % - SI
AKOONJEE FAMILY TRUST |
AFRICA FOOD AND CHEMICAL EXPORT COMPANY (PTY) LTD |
None |
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20 % - S
AKOONJEE FAMILY TRUST |
AFRICA FOOD AND CHEMICAL EXPORT COMPANY (PTY) LTD |
None |
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Key Deals - No
Information on Record
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Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
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1 |
THREAT IMPACT |
0313320192 |
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Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
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1 |
10 Years |
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30 Days |
R150000 |
30 Days |
Good account.
The subject has an open account with its suppliers |
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
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Bank |
FIRST NATIONAL BANK |
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Branch |
VERULAM |
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Brach Code |
250655 |
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Bank Account Number |
50910021597 |
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Type of Account |
CURRENT |
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Account Name |
AFRICA FOOD AND CHEMICAL EXPORT COMPANY (PTY) |
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Overdraft Facilities |
None |
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Bank Comment |
The subject's bankers consider them good for all business normal
engagements |
Bank Code History - No Information on Record
Previous Bank Account Information - No Information on Record
Deeds Information - No information on record
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Current Turnover per month |
R 3750000.00 |
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Current Turnover per annum |
R 45000000.00 |
Please note the following:
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Turnover and assets less than R 1,000,000.00 |
The subject falls within the National Credit Act |
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Turnover and assets less than R 2,000,000.00 |
The subject falls within the Consumer Protection Act |
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Number of Principals |
1 |
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Average Age of Active Principals |
41 |
Active Principals Principal - 1 of 1 SHAFIQUE AKOONJEE
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Surname |
AKOONJEE |
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First Name |
SHAFIQUE |
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ID Number |
7308185163086 |
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Verified ID Number |
Yes |
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Current Age |
40 Years 7 Months |
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Designation |
Director |
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Status |
Active |
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Appointment Date |
1997/07/01 |
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Physical Address (at time of Appointment) |
900 JAN SMUTS HIGHWAY, SHERWOOD, DURBAN, KWA-ZULU NATAL, 4091 |
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Postal Address |
END WESTHAM DRIVE, WESTHAM, WESTHAM, PHOENIX, 4068 |
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Current Tel Number |
0315089500 |
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Cell number |
0837863256 |
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Shareholding/Membership |
0.00 |
Principal's Adverse -
No information on record
Business Information
for SHAFIQUE AKOONJEE
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
AFRICAN MINING AND TRUST COMPANY LTD |
M1931/003633/06 |
In Business |
82 Years 10 Months |
0 |
No |
|
|
ASSMANG LTD |
M1935/007343/06 |
In Business |
78 Years 6 Months |
0 |
No |
|
|
ASSORE LTD |
M1950/037394/06 |
In Business |
63 Years 3 Months |
0 |
No |
|
|
ORE AND METAL COMPANY LTD |
M1930/002363/06 |
In Business |
83 Years 11 Months |
0 |
No |
|
|
ORESTEEL INVESTMENTS (PTY)LTD |
M1975/003008/07 |
In Business |
38 Years 2 Months |
0 |
No |
|
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THE SACCO COMMUNITY CENTRE |
M2009/013212/08 |
In Business |
4 Years 4 Months |
0 |
No |
|
|
WONDERSTONE LTD |
M1935/006371/06 |
In Business |
78 Years 6 Months |
0 |
No |
|
|
XERTECH (PTY)LTD |
M2001/006462/07 |
In Business |
0 |
0 |
No |
|
|
ZEERUST CHROME MINES LTD |
M1962/001355/06 |
In Business |
51 Years 3 Months |
0 |
No |
|
|
OAKMEAD INVESTMENTS (PTY)LTD |
M1994/004577/07 |
In Business |
20 Years 8 Months |
0 |
No |
|
|
OHLANGA CASH AND CARRY (PTY)LTD |
M2004/007913/07 |
In Business |
10 Years 10 Months |
0 |
No |
|
|
OHLANGA MOTOCITI (PTY)LTD |
M2000/007252/07 |
In Business |
14 Years 2 Months |
0 |
No |
|
|
OHLANGA WHOLESALERS (PTY)LTD |
M1992/004461/07 |
In Business |
22 Years 10 Months |
0 |
No |
|
|
SONANCE TRADING
(PTY)LTD |
M1999/021629/07 |
In Business |
15 Years 3 Months |
0 |
No |
|
|
TRADECASH (PTY)LTD |
M2004/025094/07 |
In Business |
10 Years 10 Months |
0 |
No |
|
|
TRADEPORT DISTRIBUTION (PTY)LTD |
M2003/031163/07 |
In Business |
11 Years 11 Months |
0 |
No |
|
|
TRUSTMORE INVESTMENTS (PTY)LTD |
M1997/012890/07 |
In Business |
17 Years 5 Months |
0 |
No |
|
|
UNISEL INVESTMENTS (PTY)LTD |
M1998/011531/07 |
Deregistration Process |
16 Years 4 Months |
0 |
No |
|
|
ZEALAND INVESTMENTS (PTY)LTD |
M1997/002510/07 |
In Business |
17 Years 5 Months |
0 |
No |
|
|
ZIMATA INVESTMENTS (PTY)LTD |
M1998/008608/07 |
In Business |
16 Years 4 Months |
0 |
No |
|
|
903 GOLDEN SANDS (PTY)LTD |
M2004/001939/07 |
In Business |
10 Years 10 Months |
0 |
No |
|
|
AFRICA FOOD AND CHEMICAL EXPORT COMPANY (PTY)LTD |
M1992/004728/07 |
In Business |
22 Years 10 Months |
0 |
No |
|
|
ALCARA INVESTMENTS (PTY)LTD |
M2001/004731/07 |
In Business |
13 Years 1 Months |
0 |
No |
|
|
CIGARETTE CITY (PTY)LTD |
M1995/009175/07 |
In Business |
19 Years 7 Months |
0 |
No |
|
|
COLLARD INVESTMENTS (PTY)LTD |
M1996/013676/07 |
In Business |
18 Years 6 Months |
0 |
No |
|
|
DAWOOD TIMOL (PTY)LTD |
M2004/001398/07 |
In Business |
10 Years 10 Months |
0 |
No |
|
|
ELITE FORCE CC |
B1994/012072/23 |
In Business |
20 Years 8 Months |
0 |
No |
|
|
FAVORS CASH AND CARRY (PTY)LTD |
M1995/008205/07 |
In Business |
19 Years 7 Months |
0 |
No |
|
|
GLENDORA INVESTMENTS (PTY)LTD |
M1995/007574/07 |
In Business |
19 Years 7 Months |
0 |
No |
|
|
HAPPY FAMILY DISTRIBUTORS (PTY)LTD |
M1997/010404/07 |
In Business |
17 Years 5 Months |
0 |
No |
|
|
KEALPROP INVESTMENTS (PTY)LTD |
M1994/009355/07 |
In Business |
20 Years 8 Months |
0 |
No |
|
|
KOKSTAD WHOLESALERS (PTY)LTD |
M1992/005618/07 |
In Business |
22 Years 10 Months |
0 |
No |
|
|
MOTOGATE CARS (PTY)LTD |
M2005/041375/07 |
In Business |
9 Years 9 Months |
0 |
No |
|
|
NORPHIN PROPERTIES 299 (PTY)LTD |
M1994/006938/07 |
In Business |
20 Years 8 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 11 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
||||
|
ARMS KING (PTY)LTD |
M1999/008785/07 |
In Business |
15 Years 3 Months |
0 |
No |
|
||||
|
ORION PROPERTIES 134 (PTY)LTD |
M2007/028584/07 |
Deregistration Process |
7 Years 7 Months |
0 |
No |
|
||||
Principal Deeds
Information
Property Interests for
SHAFIQUE AKOONJEE
|
Title Deed No. |
T32402/2011 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
HYDE PARK SANDTON |
|
Property Type |
Freehold |
Extent / Size |
2050.0SQM |
|
Purchase Date |
2011/03/21 |
Purchase price |
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% Ownership |
0.00 |
Bond Holder |
|
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Bond Number |
K28291977S |
Bond Amount |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.13 |
|
UK Pound |
1 |
Rs.101.17 |
|
Euro |
1 |
Rs.84.59 |
INFORMATION DETAILS
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.