MIRA INFORM REPORT

 

 

Report Date :

11.10.2014

 

IDENTIFICATION DETAILS

 

Name :

JUST PARTS CC

 

 

Registered Office :

K H Centre, Suite 104, 314 Grey Street, Durban 4001

 

 

Country :

South Africa

 

 

Date of Incorporation :

06.02.1995

 

 

Com. Reg. No.:

1995/003932/23

 

 

Legal Form :

Not Available

 

 

Line of Business :

Not Available

 

Note:

(We tried to confirm obtain the details activity but the same is not available from any source.)

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

 

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

 

JUST PARTS CC

 

 

PHYSICAL ADDRESS

 

K H Centre

Suite 104

314 Grey Street

DURBAN

4001

 

 

TELEPHONE NUMBER

 

031 700 5252

 

 

FAX NUMBER

 

031 700 5254

 

On investigation contact was made the member A GAJAN who declined to assist with information telephonically and requested that a standard questionnaire be e-mailed.  This was duly done.

 

Contact was once again made with the respondent at a later stage who confirmed that he has received the relevant e-mail; however he is unable to assist with any information. It was stated that the only person to assist with information is the member Mr R GAJAN.   It was then stated that Mr R GAJAN is away on business and will only return during the 1st week of November. Contact will then be made with the R GAJAN and a report compiled and forwarded to our client.

 

Nevertheless, please see statutory information obtained from COMPANIES AND INTELLECTUAL PROPERTY COMMISSION (CIPC):

 

 

COMPANY NAME

 

JUST PARTS CC

 

ADDRESSES ON CIPRO

 

PHYSICAL ADDRESS: 

Unit 3

6 Leemans Place

WESTMEAD

PINETOWN

3068

 

POSTAL ADDRESS:

P O Box 3087

PRESTONDALE

Umhlanga Rocks

4021

 

 

MEMBERS

 

RANJITH GAJAN

ID No. 4811225119052

Residential Address: 17 Canterbury Street, Umhlanga Ridge, UMHLANGA 4319

Postal Address: P O Box 3087, Prestondale, UMHLANGA ROCKS

Interest Held: 34%

 

RADHA GAJAN

ID No. 5401060132052

Residential Address: 17 Canterbury Street, Umhlanga Ridge, UMHLANGA 4319

Postal Address:  P O Box 3087, Prestondale, UMHLANGA ROCKS

Interest Held:  33%

                       

ASHWIN RANJITH GAJAN

ID No. 7504055113082

Residential Address: 17 Canterbury Street, Umhlanga Ridge, UMHLANGA 4319

Postal Address:  P O Box 3087, Prestondale, UMHLANGA ROCKS

Interest Held:  33%

 

 

DATE REGISTERED

 

6 February 1995

Registration Certificate Number: 1995/003932/23

 

 

VAT NUMBER

 

4240149353

 

 

TAX NUMBER    

 

2091355592 (NB: Invalid number recorded at CIPC – all Tax numbers begin with the number 9)

 

 

YEAR END

 

FEBRUARY

 

 

COMMENTS

 

Should further information become available a report will be submitted.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.16

UK Pound

1

Rs.98.62

Euro

1

Rs.77.67

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

NIT

 

               

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.