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Report Date : |
09.10.2014 |
IDENTIFICATION DETAILS
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Name : |
GRIMMPLATTEN PAVERS (PTY) LTD |
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Formerly Known As : |
CAPRABYTE (PTY) LTD |
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Registered Office : |
51 / 68A |
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Country : |
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Date of Incorporation : |
17.06.2009 |
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Com. Reg. No.: |
2009/011639/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Importers and Distributors of Pavers Manufactured |
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No. of Employees : |
10 |
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 : |
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 – June 1, 2014
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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 |
GRIMMPLATTEN PAVERS
(PTY) LTD
Formerly: CAPRABYTE (PTY) LTD, the name having been
changed on 19 October 2009
GPL
51 / 68A Main Road
DIEP RIVER
Cape Town
Western Cape
51 / 68A Main Road
DIEP RIVER
Cape Town
8000
+27 21 712 8697
+27 21 712 7205
100% J KREJCI
GRIMMPLATTEN PAVERS
GMBH, situated in Germany
J KREJCI (Germany) D.O.B. 610703
STANDARD BANK,
Constantia Branch. It was stated that
the subject does not require overdraft facilities as credit balances are
maintained at the bank.
17 June 2009
Registration
Certificate Number: 2009/011639/07
The subject commenced
trading on 1 April 2010
4470253800
9326930162
Level 4 contributor
Importers and
distributors of pavers manufactured at the 2 factories situated in Germany carrying
the brand name GRIMMPLATTEN
The subject imports
100% of its supplies from its associate company and utilises one local freight
forwarder.
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.
Retailers, as well as
the building industry and contractors
South Africa
Africa
10
None
The premises are reported to be leased
Full financial information
was not forthcoming from respondents at the subject, however, it was stated
that the estimated turnover per annum is approximately R5 000 000.
LSG INTEGRATED
CLARK ACCOUNTING
SERVICES
FEBRUARY
None
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. ±4 years R 100 000 R
100 000 30 days 30 days Good
(These descriptions relate
respectively by number to the above current trade transactions):
1. Freight Forwarder
This is a relatively newly established small
business that purchases only from its associate company in Germany. In view of
the lack of an established payment pattern and full financial information, it
is suggested that all dealings be on a letter of credit or secured basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.46 |
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1 |
Rs.98.77 |
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Euro |
1 |
Rs.77.65 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
NIT |
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.