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Report Date : |
16.10.2014 |
IDENTIFICATION DETAILS
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Name : |
KONTOS ENGINEERING CC |
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Registered Office : |
5 Graphite Road Driehoek Germiston Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
01.03.1995 |
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Legal Form : |
Close corporation |
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Line of Business : |
Manufacturers of steel products such as
hinges and roller wheels |
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No. of Employees : |
25 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
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
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
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 |
KONTOS ENGINEERING CC
5 Graphite Road DRIEHOEK Germiston
Gauteng
P O Box 2243
BEDFORDVIEW
2008
TELEPHONE NUMBER: +27 11 873 5034
FAX NUMBER: +27
11 873 5149
The mobile number +27 82 331 2718 that was
supplied by our client was unknown to the respondent at the subject. When the
number is dialled it instantly diverts to a voice message saying "the subscriber
you have dialled is not available at present. Please try again later"
100% M V HAMMOND (Ms)
VICRO MARKETING CC
NEDBANK, Greenstone branch. Further
information was not forthcoming from the respondent.
1 March 1995
Registration Certificate Number:
1995/008285/23
The subject commenced trading in 1995 as a
new business
VAT NUMBER: 4550147823
TAX NUMBER: 9426331840
BEE STATUS: Level 2
Manufacturers of steel products such as
hinges and roller wheels
Declined telephonically - An email request
for suppliers names has been sent.
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: Steel suppliers
AREA OF DISTRIBUTION AND SELLING: South Africa
EXPORTS: None
TOTAL EMPLOYEES: 25
OTHER PREMISES: None
OWNED OR LEASED: Leased
MEMBERS CONTRIBUTION: R100
Full financial information was not forthcoming
from respondents at the subject and outside authorities were unable to assist
in this regard.
AUDITORS: BROWN AND FERGUSON
YEAR END: FEBRUARY
INSURANCE BROKERS: THE GARRUN GROUP
We were unable to obtain trade references as
the respondent declined to assist with the names of suppliers and requested
that an email be forwarded. This was duly sent. Should further information be
forthcoming trade references will be obtained, incorporated in the report and
forwarded to our client.
This is an established business however in
view of the lack of financial information and a payment pattern at present we
are unable to comment on the creditworthiness or a maximum credit. As soon as
further information is forthcoming the same will be incorporated in the report
and forwarded to our client.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.10 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.68 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
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 |
|
|
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.