MIRA INFORM REPORT

 

 

Report Date :

27.03.2014

 

IDENTIFICATION DETAILS

 

Name :

RANDLES 2021 INVESTMENTS CC

 

 

Registered Office :

20 Canberra Road CONGELLA Umbilo Durban KwaZulu-Natal P O Box 149809 East End 4018

 

 

Country :

South Africa

 

 

Date of Incorporation :

09.01.2002

 

 

Com. Reg. No.:

2002/002715/23

 

 

Legal Form :

Private Company

 

 

Line of Business :

Importers and distributors of various commodities such as textiles, hardware, abrasives, glass and household item

 

 

No. of Employees :

08

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No complaints

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

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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

 

Source : CIA

 

 

 

 

Company name

 

RANDLES 2021 INVESTMENTS CC

 

 

TRADING NAME 

 

AKAYDEE INTERNATIONAL

 

 

PHYSICAL ADDRESS

 

Unit 4, 3 Canberra Park

20 Canberra Road

CONGELLA

Umbilo

Durban

KwaZulu-Natal

 

 

POSTAL ADDRESS

 

P O Box 149809

EAST END 4018

 

 

TELEPHONE NUMBER   

 

+27 31 304 6023

 

 

FAX NUMBER

 

+27 31 306 5912

 

The subject moved from 16 West Centre, 207 Timber Street, Durban prior to 2005.

 

 

MEMBERS

 

28.25% A K SHARMA                                        ID No.   5604045446188

28.25% D K GUPTA                                           ID No.   6204295203188

11.93% K WADHERA                                        D.O.B.  760904

10.00% J GUPTA                                               Ppt No. J0489547

  8.24% A N SHARMA                            Ppt No. F3471132

  7.33% R OHRI                                     Ppt No. H4452388

  6.00% A OHRI                                     ID No.   7101061075189

 

 

ASSOCIATE COMPANIES

 

RANDLES 2011 INVESTMENTS CC trading as AARDEE INTERNATIONAL

(Registration Certificate Number: 1996/026992/23)

AFRICHOICE TRADING CC

(Registration Certificate Number: 2003/078261/23)

HENQUE 3631 CC trading as SAJDEE INTERNATIONAL

(Registration Certificate Number: 2000/070097/23)

 

 

BANKERS

 

NEDBANK, Business Branch, KwaZulu-Natal, Account Number: 1010739875.  Further information on banking facilities was not forthcoming from the respondent.

 

 

DATE REGISTERED

 

9 January 2002

Registration Certificate Number:  2002/002715/23

 

The subject commenced trading in 2002.  The subject then became dormant for a few years and re-commenced trading in 2011 when it took over some of the assets and operations of its associate company RANDLES 2011 INVESTMENTS CC trading as AARDEE INTERNATIONAL

 

 

VAT NUMBER    

 

4500196862

 

TAX NUMBER    

 

9052457141

 

 

MAJOR OPERATION

 

Importers and distributors of various commodities such as textiles, hardware, abrasives, glass and household items.  There are no specific brand names.

 

 

MAJOR SUPPLIERS

 

The subject imports 95% of its supplies and deals locally with:

 

BARLOWORLD LOGISTICS

 

 

MAJOR CUSTOMERS OR BUSINESS SECTORS   

 

Wholesalers and retailers

 

AREA OF DISTRIBUTION AND SELLING:            South Africa

 

EXPORTS:                                                        None

 

TOTAL EMPLOYEES:                                        ±8

 

OTHER PREMISES:                                          None

 

OWNED OR LEASED:                                       The premises are reported to be leased

 

 

FINANCIALS

 

Full financial information was not forthcoming from respondents at the subject and outside authorities were unable to assist in this regard.

 

AUDITORS    

 

SOUTH AFRICAN FINANCIAL SERVICES

 

 

FINANCIAL YEAR END  

 

FEBRUARY

 

 

INSURANCE BROKERS 

 

GKI INSURANCE BROKERS

 

 

CURRENT TRADE REFERENCES:

 

      ACCOUNT    HIGHEST       AVERAGE       TERMS     PAYMENT   EXPERIENCE

      OPENED      CREDIT         CREDIT                           PATTERN

 

1.    +3 years       R1 500 000    R  800 000      30 days     30 days        Very Good            

 

 

COMMENTS

 

This is a relatively newly rejuvenated operation meeting its local commitment timeously. 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.17

UK Pound

1

Rs.99.39

Euro

1

Rs.83.09

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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