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Report Date : |
05.05.2014 |
IDENTIFICATION DETAILS
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Name : |
AKHALWAYAS SPICES OF MAYFAIR CC |
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Formerly Known As : |
PRETERITE CC |
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Registered Office : |
25 Central Avenue, Mayfair, Johannesburg, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
25.01.1999 |
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Com. Reg. No.: |
1999/003223/23 |
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Legal Form : |
Private Company |
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Line of Business : |
Importers and distributors of spices, herbs and
groceries. |
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No. of Employees : |
5 |
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 : |
Slow but correct |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 16th largest in the world. Even though the
country's modern infrastructure supports 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,
albeit slowly with 2014 growth projected at about 2%. Unemployment, poverty,
and inequality - among the highest in the world - remain a challenge. Official
unemployment is at nearly 25% of the work force, and runs significantly higher
among black youth. Eskom, the state-run power company, has built two new power
stations and installed new power demand management programs to improve power
grid reliability. Construction delays at two additional plants, however, mean
South Africa is operating on a razor thin margin; economists judge that growth
cannot exceed 3% until those plants come on line. 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 |
AKHALWAYAS SPICES OF MAYFAIR CC
Formerly: PRETERITE CC, the name having been
changed on 26 February 2013
PHYSICAL ADDRESS: 25
Central Avenue
MAYFAIR
Johannesburg
Gauteng
POSTAL ADDRESS: P O
Box 421033
FORDSBURG
2033
TELEPHONE NUMBER: +27 11 839 2113
FAX NUMBER: +27 11 839
2113
100% MRS S BHAIJEE ID No. 6903270098089
None
ABSA BANK, Fordsburg Branch. It was stated that the subject enjoys
overdraft facilities secured by the personal guarantee of the member.
Utilisation of the overdraft is stated to be nil.
The subject also banks with HBZ BANK, Fordsburg
Branch. It was stated that the subject does not require overdraft facilities as
credit balances are maintained at the bank.
25 January 1999
Registration Certificate Number: 1999/003223/23
It was stated that the company commenced trading
in 2002
4640202356
9008259872
Importers and
distributors of spices, herbs and groceries.
The subject grinds, blends, processes and packs their products under the
brand name AKHALWAYAS.
It was stated that the subject imports most of its
supplies and deals with the clearing agents MSC as well as MAERSK on a C.O.D.
basis, however, the subject has a credit facility with:
A H KHAN
Public
Gauteng and surrounding areas
None
5
None
The premises are reported to be leased
R50
Full financial information was not forthcoming from
respondents, nevertheless it was stated that the stock is approximately
R3 000 000.
A ASHRAF, Johannesburg
FEBRUARY
ABSA INSURANCE BROKERS
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Old declined R
35 000 30 days 30 days Very
Good
2. 10 years R 54 000 R 35 000 30
days 30 days Very Good
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 20 years R100 000 R
50 000- 30 days 30 days Excellent
R 80 000
2. Deals on a C.O.D basis
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Old acc Declined R
50 000- 30 days 30 days Excellent
R100
000
2. Deals on a C.O.D basis
3. Deals on a C.O.D. basis
This is an established business meeting its moderate obtainable
commitment timeously.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.23 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.46 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NNA |
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 |
|
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 |
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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.