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Report Date : |
04.10.2014 |
IDENTIFICATION DETAILS
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Name : |
SAFEQUIP (PTY) LTD |
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Formerly Known As : |
JOSDEL PROPERTY NO 167 (PTY) LTD HI-LAY SALES (PTY) LTD |
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Registered Office : |
No |
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Country : |
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Date of Incorporation : |
07.10.2005 |
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Com. Reg. No.: |
2005/036033/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Wholesalers and distributors of SABS approved
fire and safety equipment for fire fighting which includes fire extinguishers
and quality safe solutions for the protection appliance requirements. The
subject is the only local producer of fire fighting powders such as FIREMATE
and BLUE CRANE. The subject also supplies fire hose reels, cabinets, valves
and couplings. The subject is an agent for CEODOUX and AWG (manufacturers of
fire fighting fittings and equipment) |
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No. of Employees : |
91 |
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) |
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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
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 |
SAFEQUIP (PTY) LTD
Formerly: HI-LAY SALES (PTY) LTD, the name having
been changed on 28 October 2008
Formerly: JOSDEL PROPERTY NO 167 (PTY) LTD, the
name having been changed on 29 September 2006
PHYSICAL ADDRESS: No 1 Saxenburg Road
BLACKHEATH
Cape Town
Western Cape
POSTAL ADDRESS: P O Box 281
KUILSRIVER
7580
TELEPHONE NUMBER: +27
21 907 2500
FAX NUMBER: +27 21 907 2526
100% ROVIC
INTERNATIONAL (PTY) LTD
The shareholding changed in 2014 and was
previously:
A A DE VILLIERS
C H RICKENS
L BERGH
ISLAND BOATS (PTY) LTD
Registration Certificate Number: 2003/010816/07
ROVIC AND LEERS (PTY) LTD
It was stated that A A DE VILLIERS is involved in
ISLAND BOATS (PTY) LTD.
A A DE VILLIERS ID
No. 5512065073081
C H RICKENS ID
No. 5405145189086
F A J STROH ID
No. 6608135155087
C BAHLMANN ID
No. 7903045021084
A KOORTZ ID
No. 8512225080080
STANDARD BANK, Account Number: 272897795. It was
stated that the subject enjoys overdraft facilities to an extent of
R3 500 000 but further information was declined.
7 October 2005
Registration Certificate Number: 2005/036033/07
It was stated that the subject was previously known
as CRANE ENGINEERING and that HILAY SALES and BLUE CRANE ENGINEERING merged to
form the subject.
VAT NUMBER: 4390227116
TAX NUMBER: 9888658144
Wholesalers and distributors of SABS approved fire
and safety equipment for fire fighting which includes fire extinguishers and
quality safe solutions for the protection appliance requirements. The subject
is the only local producer of fire fighting powders such as FIREMATE and BLUE
CRANE. The subject also supplies fire hose reels, cabinets, valves and
couplings. The subject is an agent for CEODOUX and AWG (manufacturers of fire
fighting fittings and equipment)
PETZETAKIS, Pretoria
HOSE MANUFACTURERS, Cape Town
MEIHUIZEN FREIGHT, Cape Town
MATTHEWS DREW S.A, Johannesburg
EDM METAL
Government, private companies and wholesale
industry
South Africa
Central Africa and the Indian Ocean Islands
91
It was stated that the subject has branches
in Johannesburg and Durban
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.61.75 |
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1 |
Rs.100.06 |
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Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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Report Prepared
by : |
SDA |
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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.