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Report Date : |
29.10.2014 |
IDENTIFICATION DETAILS
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Name : |
SAWAB FREIGHT FORWARDERS AND CUSTOMS CONSULTANTS CC |
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Registered Office : |
Unit 19 |
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Country : |
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Date of Incorporation : |
26.04.2011 |
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Com. Reg. No.: |
2011/063676/23 |
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Legal Form : |
Close corporation |
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Line of Business : |
Freight forwarders and consultants |
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No. of Employees : |
5 |
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
|
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 |
SAWAB FREIGHT SERVICES
Unit 19 Jan Smuts
Office Park
Jones Road
JET PARK
Boksburg
On investigation it was established that the
correct name of the subject is SAWAB
FREIGHT FORWARDERS AND CUSTOMS CONSULTANTS CC, which report should be consulted
SAWAB FREIGHT FORWARDERS AND CUSTOMS CONSULTANTS CC
Unit 19 Jan Smuts
Office Park
Jones Road
JET PARK
Boksburg
P O Box 4166
KEMPTON PARK
1619
TELEPHONE NUMBER: +27 11 397 6897
FAX NUMBER: +27 11 397 8813
100% G OLIPHANT ID No. 7811220423084
FIRST NATIONAL BANK, Woodridge Branch. Further information on banking facilities was
not forthcoming from the respondent.
26 April 2011
Registration Certificate Number: 2011/063676/23
The subject commenced trading in 2011
Unknown
Unknown
Freight forwarders and consultants
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.
Industry in general
Worldwide
5
None
The premises are
reported to be leased
R 100
Full financial
information was not forthcoming from respondents at the subject and outside
authorities were unable to assist in this regard.
GOOLAM SABER AKOOJEE
FEBRUARY
Unknown
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2011 Open R 5 000 30 days 30
days Excellent
2. COD
3. COD
NATURE OF GOODS OR SERVICES
SUPPLIED:
(These descriptions relate respectively by number to the above current
trade transactions):
1. Shipper
2. Shipper
3. Shipper
This is a
relatively new business which deals mainly on a COD basis or on 30 days with
small purchases. In view of the lack of financial information and a full
payment pattern it is suggested that all dealings be on a letter of credit
basis until the subject is better established.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.35 |
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1 |
Rs.98.93 |
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Euro |
1 |
Rs.77.92 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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Report Prepared
by : |
PDT |
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.