MIRA INFORM REPORT

 

 

Report Date :

07.10.2014

 

IDENTIFICATION DETAILS

 

Name :

TEMPLETON & QZACK CC

 

 

Registered Office :

Unit No 22, Jones Road, Jan Smuts Park, Jet Park, Boksburg, Gauteng, P O Box 446, Parklands, 2121

 

 

Country :

South Africa

 

 

Date of Incorporation :

06.11.2009

 

 

Legal Form :

Private Company

 

 

Line of Business :

Importers and distributors of chemicals and other general supplies. 

 

 

No. of Employees :

5

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Unknown

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

 

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 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

 

 

 

 

COMPANY NAME

 

TEMPELTON AND QZACK CC

 

 

PHYSICAL ADDRESS    

 

Unit No 22 Jones Road Jan Smuts Park JET PARK Boksburg Gauteng

 

 

POSTAL ADDRESS   

 

P O Box 446 PARKLANDS 2121

 

 

TELEPHONE NUMBER

 

+27 11 046 9683

 

 

FAX NUMBER                    

 

+27 86 587 2732

 

 

MEMBERS

 

100%    A I PARUK                                            ID No.   6305165135085

 

 

ASSOCIATE COMPANIES

 

OCEANIC BONDED WAREHOUSE CC

 

 

BANKERS

 

ABSA BANK, Business Banking Branch, Sandton.  The subject has an overdraft facility secured by member guarantees.  Utilisation of the overdraft is stated to fluctuate. 

 

 

DATE REGISTERED

 

6 November 2009

Registration Certificate Number:  2009/206143/23

 

The subject commenced trading in 2009

 

 

VAT NUMBER    

 

4280256654

 

 

MAJOR OPERATION

 

Importers and distributors of chemicals and other general supplies. 

 

 

MAJOR SUPPLIERS

 

It was stated that the subject imports 95% of its supplies and undertakes its own in-house clearing.

 

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.

 

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

           

Manufacturers and wholesalers

 

 

AREA OF DISTRIBUTION AND SELLING   

 

South Africa

 

 

EXPORTS

 

African Countries

 

 

TOTAL EMPLOYEES

 

5

 

 

OTHER PREMISES   

 

None

 

 

OWNED OR LEASED

 

The premises are reported to be leased

 

 

MEMBERS CONTRIBUTION

 

R100

 

 

FINANCIALS

 

Full financial information was not forthcoming from respondents at the subject, nevertheless, it was stated that the turnover per annum is between R5 000 000 to R10 000 000.

 

 

AUDITORS

 

UMI MOODLEY

 

 

FINANCIAL YEAR END

           

FEBRUARY

 

 

INSURANCE BROKERS 

 

FIRST NATIONAL  INSURANCE BROKERS

 

 

CURRENT TRADE REFERENCES:

 

Not applicable

 

 

COMMENTS

 

This is a relatively established business which is not a general credit seeker locally.  In view of the lack of full financial information and a payment pattern, we would prefer to see such dealings on a letter of credit basis only and we are unable to recommend a maximum figure.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.75

UK Pound

1

Rs.100.07

Euro

1

Rs.77.95

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SMN

 

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.