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Report Date : |
18.11.2014 |
IDENTIFICATION DETAILS
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Name : |
TANTUS TRADING 284 CC |
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Registered Office : |
Cnr. Diamond And Emerald Street, Carletonville, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
01.12.2008 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
General dealer, wholesalers, retail traders, importers of linen wear, textiles,
curtaining and other related items. |
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No of Employees : |
45 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 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.
|
Source
: CIA |
TANTUS TRADING 284 CC
EDURA
Cnr. Diamond And Emerald Street
Carletonville
Gauteng
P O Box 107
CARLETONVILLE
2500
+27 18 788 6697
+27 18 787 2768 / 787 3909
+27 82 5551546
75% R A NORSARKA (Resident in
Australia) ID No. 4104035093059
25% M I KAROLIA ID No. 8303045048089
Formerly shareholding of 74% RANCO (AUSTRALIA) (PTY) LTD and
26% M I KAROLIA.
RFN INVESTMENTS (PTY) LTD
ERF 341 AZAADVILLE (PTY) LTD
CARLETON COLLECTIONS CC
CARLETON FABRICS CC
XTRAPROPS 214 (PTY) LTD (dormant)
HABIB OVERSEAS BANK, Fordsburg, Acc No. 1122500520 5001. It was stated that the subject enjoys
overdraft facilities to an extent of R4 800 000, unsecured. The subject also
banks with FIRST NATIONAL BANK, Carletonville, Acc No. 62093482497.
The subject also banks with STANDARD BANK, Carletonville.
1 December 2008
Registration Certificate Number 2008/249202/23
The subject was originally a private company trading since 2004
(Registration Certificate Number: 2004/027472/07) and prior to that was known
as COLIN TRADING HOLDINGS CC, trading as EDURA and the business has been an
institution in Carletonville under different legal entities for over 50 years.
4490217785
9046594157
Non-compliant
General dealer, wholesalers, retail traders, importers of linen wear, textiles,
curtaining and other related items.
Previously, we have divulged the names of the
major suppliers in our reports. We have
discontinued this practice to protect our valuable sources of trade
information. This has become necessary
because we now give a description of the goods or services to which the trade
references relate. This gives our client
the ability to assess whether the
purchases are vital to the subject’s operation and whether we have only been
given their essential suppliers that must be paid promptly for the subject to
maintain its operation.
Textile traders and general public
South Africa
Australia
45
None
The premises are reported to be owned by an associate company.
R100
Full financial information was not forthcoming from
respondents at the subject and outside authorities were unable to assist in
this regard.
R W F C FINANCIAL CONSULTING INC
FEBRUARY
COMMRISK INSURANCE BROKERS,
+27 11 446 7800
TRADE REFERENCES –
JUNE 2006:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 15 Years Good for R1 000 000 60
days 15 days Excellent
cash
in advance
2. 33 Years R40 000 R40 000 pays
on invoice Good
3. 2 Years declined figures 60 days 60
days Good
TRADE REFERENCES –
MAY 2009:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 5
Years R400 000 R300 000 60
days 30/60 days Very Good
2. 1992 R300 000 R250
000 60 days 30/60 days Very Good
3. 18
Years R516 000 R352 000 30 days 30
days Excellent
TRADE REFERENCES – MAY 2010:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 5+ Years R500 000 R125 000 60
days 30 days Good
c/l
2. 2005-2007 R550 000 R160 000 60
das 30 days Very Good
c/l
3. 1992 declined declined 30 days 15 days Very
Good
4. Do not give trade
references.
TRADE REFERENCES-MAY 2010:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 5 Years R1 500 000 R100 000 60 days 30 days Very
Good
c/l R300 000 5% discount
2. Unable to obtain
3. Last bought in
2009. Account is inactive
4. Unable to obtain
CURRENT TRADE REFERENCES:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2007 R1 700 000 R500 000- 30
days 30 days Excellent
R1 000
000
2. ±10 years R250 000 Declined 60
days 30 days Very Good
Insured:COFACE
3. 1985 Declined Declined 30 days 30 days Very
Good
NATURE OF GOODS OR SERVICES SUPPLIED:
(These descriptions relate respectively by number
to the above current trade transactions):
1. Beddings
2. Towels
3. Fabrics
This is an established company that is meeting its commitments timeously
and is highly regarded by its
suppliers. The subject is considered equal to its normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.68 |
|
|
1 |
Rs.96.94 |
|
Euro |
1 |
Rs.77.36 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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|
Report Prepared
by : |
TPT |
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 |
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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 |
|
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 |
|
<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.