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Report Date : |
21.05.2014 |
IDENTIFICATION DETAILS
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Name : |
UXOLO DIAMOND CUTTING WORKS (PTY)LTD |
|
|
|
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Registered Office : |
R1 1st Floor Rinmel Centre, 225 Main Street, Johannesburg, 0001 |
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|
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Country : |
South Africa |
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Date of Incorporation : |
11.09.2006 |
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Reg. No.: |
M2006/028328/07 |
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Legal Form : |
Private Company |
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Line of Business : |
The subjects main operation is to manufacture diamonds |
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No. of Employees : |
65 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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 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 |
|
Subject Name |
UXOLO DIAMOND CUTTING WORKS (PTY)LTD |
|
Country |
South Africa |
|
Subject Contact Person |
SHRIRAGE DESHBAND - CFO |
|
Assessment |
This is an established business. On investigation contact was made
with SHRIRAGE DESHBAND, the CFO who assisted with most of the information. He
however declined to assist with suppliers as such trade references could not
be obtained. The banking information and financials were declined as these
are considered to be confidential. Please see the available information
obtained below. |
|
Registered Name |
UXOLO DIAMOND CUTTING WORKS (PTY)LTD |
|
Trading as/ Division Name |
None |
|
Previous Name |
None |
|
Date of Name Change |
None |
|
Registration Number |
M2006/028328/07 |
|
Registration Date |
2006/09/11 |
|
Date Commenced Trading |
2006-09-11 |
|
Age of Business |
7 Years 6 Months |
|
History of Business |
The subject commenced trading as a new
business in 2006. |
|
History of Principals |
There are 2 active principals within the
company. |
|
Shareholders/Members/Partners of subject
and % holding |
74 % - SUNAGE SOUTH AFRICA, 26 % - UXOLO
EMPLOYMENT TRUST |
|
Authorised Share Capital |
|
|
Issued Share Capital/Members Contribution |
|
|
Status |
In Business |
|
Operations Assessment |
The subjects main operation is to
manufacture diamonds |
|
Industry/ Customers |
The mining and jewelery industry |
|
Export |
Yes |
|
Export Countries |
India |
|
Import |
Yes |
|
Import Countries |
Botswana |
|
Major Industry Code / SICC |
39212 |
|
Definition of Code |
Diamond cutting and polishing |
|
Head Office Physical Address |
R1 1ST FLOOR RINMEL CENTRE, 225 MAIN STREET,
JOHANNESBURG, 0001 |
|
Head Office Postal Address |
R1 1ST FLOOR RINMEL CENTRE, 225 MAIN
STREET, JOHANNESBURG, 0001 |
|
Current Tel Number |
0113341161 |
|
Cell Number |
Unavailable |
|
Current Fax Number |
0113342754 |
|
Current Email Address |
|
|
Web Site Address |
|
|
Comments |
|
|
Company Registered Name |
J C BARNARD AND PARTNERS JOHANNESBURG
INCORPORATED INC |
|
Trading Name |
JCB (JHB) |
|
Registration Number |
2000/022847/21 |
|
Physical Address |
4 SEVENTH AVENUE, PARKTOWN NORTH, 2193 |
|
Postal Address |
P O BOX 2152, PARKLANDS, 2121 |
|
Contact Person |
JOHAN LE ROUX |
|
Contact Number |
0115371560 |
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Email |
|
|
Principals |
9 |
|
Judgements Against Subject |
Unavailable |
|
Judgements Against Principals |
Unavailable |
|
Subject Verified as Client |
Yes |
|
Practice Number |
913952E |
|
VAT Number |
Unvailable |
|
Tax Number |
9950020140 |
|
BEE Status |
Unavailable |
|
Financial Year End |
February |
|
No of years in Business |
3 Years 11 Months |
|
Website |
|
|
Comment |
|
Previous Auditors Information - No
Information on Record
|
Vat Number |
4130257472 |
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Status |
ACTIVE |
|
Vat Liable Date |
2010/07/02 |
|
Tax Number |
9581680155 |
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Tax Clearance Expire Date |
|
|
Financial Year End |
March |
|
Comment |
|
Black Economic Empowerment Information - No
Information on Record
ISO Information - No Information on Record
|
Registered |
Yes |
|
Compliance Certified |
Yes |
|
Comment |
|
Subsidiaries Information - No Information on
Record
|
Employees |
|
|
Number of Employees |
65 |
|
1. Salaried employees |
65 |
|
2. Waged employees |
|
|
3. Permanent employees |
65 |
|
4. Casual employees |
|
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5. Contracted employees |
|
|
Comment |
|
Company Fleet Information - No Information
on Record
Offices Information - No Information on
Record
Branch Information - No Information on
Record
|
Holding |
Company |
Sub |
Comment |
|
74
% -SUNAGE SOUTH AFRICA |
UXOLO
DIAMOND CUTTING WORKS (PTY) LTD |
None |
|
|
26
% - UXOLO EMPLOYMENT TRUST |
UXOLO
DIAMOND CUTTING WORKS (PTY) LTD |
None |
|
Note: One level up and all levels down
Organisational Ohart - No In formation on
Record
Key Deals - No Information on Record
Trade References Information - No
Information on Record
Judgements - No information on record
BusinessRescue - No Information on Record
Default Listing - No information on record
Notarial Bonds - No information on record
Bank Information - No Information on Record
Bank Code History - No Information on Record
Previous Bank Account Information - No
Information on Record
Deeds Information - No information on record
|
Number of Principals |
2 |
|
Average Age of Active Principals |
58 |
|
Active Principals Principal - 1 of 2
SHREYAS DOSHI |
|
|
Surname |
DOSHI |
|
First Name |
SHREYAS |
|
Other Names |
KIRTILAL |
|
Marital Status |
|
|
ID Number |
Z1781906 |
|
Verified ID Number |
No |
|
Current Age |
63 Years 4 Months |
|
Designation |
BUSINESSMAN |
|
Status |
Active |
|
Appointment Date |
2010/03/01 |
|
Physical Address (at time of Appointment) |
162 NEELAMBER, 16TH FLOOR 37 G D MARG,
MUMBAI 26, 0000 |
|
Postal Address |
162 NEELAMBER, 16TH FLOOR, 37 G D MARG,
MUMBAI 26, 0000 |
|
Current Tel Number |
|
|
Cell number |
|
|
Shareholding/Membership |
0.00 |
Business Information for SHREYAS DOSHI
Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
ORE AND METAL COMPANY LTD |
M1930/002363/06 |
In Business |
83 Years 11 Months |
0 |
No |
|
|
ITHEMBA DIAMONDS (PTY)LTD |
M2005/042927/07 |
In Business |
9 Years 9 Months |
0 |
No |
|
|
UXOLO DIAMOND CUTTING WORKS (PTY)LTD |
M2006/028328/07 |
In Business |
8 Years 8 Months |
0 |
No |
|
Principal Previous
Business Interests
Average Age of Previous Business 14
Years
|
Company Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
UNIT 63 SANTANA CC |
B1999/029756/23 |
Deregistration Final |
14 Years 2 Months |
0 |
No |
|
Principal's Deeds
Information - No information on record
Principal - 2 of 2
MARTIN PEARSON
|
Surname |
PEARSON |
|
First Name |
MARTIN |
|
Other Names |
|
|
Marital Status |
|
|
ID Number |
093156123 |
|
Verified ID Number |
No |
|
Current Age |
53 Years 2 Months |
|
Designation |
BUSINESSMAN |
|
Status |
Active |
|
Appointment Date |
2010/03/01 |
|
Physical Address (at time of Appointment) |
300 MERRAND CRESCENT, KYALAMI ESTATES,
JOHANNESBURG, 1684 |
|
Postal Address |
SUITE 104, JEWEL CITY, JOHANNESBURG, 2001 |
|
Current Tel Number |
|
|
Cell number |
0768745500 |
|
Shareholding/Membership |
0.00 |
Business Information for MARTIN PEARSON
Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
ORE AND METAL COMPANY LTD |
M1930/002363/06 |
In Business |
83 Years 11 Months |
0 |
No |
|
|
VIKING COMMUNICATIONS CC |
B1998/072535/23 |
In Business |
15 Years 3 Months |
0 |
No |
|
|
ITHEMBA DIAMONDS (PTY)LTD |
M2005/042927/07 |
In Business |
9 Years 9 Months |
0 |
No |
|
|
UXOLO DIAMOND CUTTING WORKS (PTY)LTD |
M2006/028328/07 |
In Business |
8 Years 8 Months |
0 |
No |
|
Principal's Deeds Information - No
information on record
Average Age of
Previous Business 14
Years
|
Company
Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
COATIQUE (PTY)LTD |
M1999/026316/07 |
Dissolved |
14 Years 2 Months |
0 |
No |
|
|
TENSHARE CC |
B1998/017879/23 |
Deregistration Final |
15 Years 3 Months |
0 |
No |
|
Principal Previous Business Interests
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.74 |
|
|
1 |
Rs.98.77 |
|
Euro |
1 |
Rs.80.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.