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Report Date : |
29.10.2014 |
IDENTIFICATION DETAILS
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Name : |
C S M GLOBAL EXPORT (PTY) LTD |
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Registered Office : |
Unit 35 Pebble Lahe Florin Road Strubben Valley Johannesburg Gauteng 1724 |
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Country : |
South Africa |
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Date of Incorporation : |
07.06.2013 |
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Legal Form : |
Not Available |
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Line of Business : |
Not Available [We tried to confirm / obtain the detailed activity but the same is
not available from any sources] |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Poor |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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 |
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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 |
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Company name: |
C S M GLOBAL EXPORT
(PTY) LTD |
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On investigation exhaustive attempts to trace a telephone number or contact details for the subject proved unsuccessful. Attempts to trace a website for the subject led to a website named “FRAUD IN SOUTH AFRICA” on which the subject was lodged by some overseas business people who state that they have lost money by paying for goods in advance that have been offered at very low prices by the subject. One such businessman states that the address supplied to him by the subject “is fake” and that the company “is also fake”. We were able to obtain a company search from CIPC which normally includes details of the Auditors of the company but in this case the search was devoid of such details. We were, therefore, unable to contact the Auditors to establish the BONA FIDES of the company. Please see the information contained in the CIPC search. |
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A company search undertaken at CIPC revealed the statutory information hereunder: |
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Company Name: |
C S M GLOBAL EXPORT
(PTY) LTD |
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Addresses on Cipc: |
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Physical Address: |
Unit 35 Pebble Lahe Florin Road STRUBBEN VALLEY Johannesburg Gauteng 1724 |
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Postal Address: |
Unit 35 Pebble Lahe Florin Road STRUBBEN VALLEY Johannesburg Gauteng 1724 |
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Directors: Address: |
Jean Claude Toh Loh Passport Number: 01528841 Date of Birth: 1986/09/12 Unit 35 Pebble Lahe Florin Road STRUBBEN VALLEY Johannesburg Gauteng 1724 Appointment Date: 2013/06/07 Status: Active |
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Date Registered: |
7 June 2013 Registration Certificate Number: 2013/093961/07 |
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Financial Year End: |
JUNE |
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Status: |
In Business (This is reflected at CIPC) |
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Comments: |
In the absence of contact details for the subject and no data that would confirm the bona fides of the subject we have no basis upon which to recommend dealings with the subject and would advise extreme caution in any communication with the subject. The name of the director reflected at CIPC appears to be a mixture of French/Belgian and what would appear to be Chinese or eastern. The company was registered last year and the country of original of the directors is designated as CM (Cameroon). The registered physical address of the subject and the postal address are all the same as the given residential address of the director which misspells the words “Lane” and “Struben” in each address. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.25 |
|
|
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.77.92 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIS |
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 |
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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.