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Report Date : |
30.10.2014 |
IDENTIFICATION DETAILS
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Name : |
OKAVANGO DIAMOND COMPANY (PTY) LTD |
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Registered Office : |
Plot 67782, Block 8, P O Box 2258 ABG Sebele, Diamond Technology Park, Industrial Gabarone Botswana |
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Country : |
South Africa |
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Date of Incorporation : |
18.04.2013 |
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Com. Reg. No.: |
CO2013/4158 |
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Legal Form : |
Private Company |
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Line of Business : |
Distribution of Rough Diamond. |
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No. of Employees : |
25 |
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) |
|
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.
|
Source
: CIA |
OKAVANGO DIAMOND COMPANY (PTY) LTD
Plot 67782
Block 8
Diamond Technology Park
Industrial
GABARONE
Botswana
P O Box 2258 ABG
SEBELE
Gabarone
Botswana
00 267 399 2300
00 267 390 7711
100% GOVERNMENT
OF BOTSWANA
None
J THAMAGE
B MOLOSIWA
C DE KOP
B MOESI
T FREARS
STANDARD CHARTERED BANK, Main Branch, Account
Number: 8740073289600. The subject does
not require an overdraft facility as credit balances are maintained at the
bank.
18 April 2013
Registration Certificate Number: CO2013/4158
The subject commenced
trading in 2013 as a new business
C28676501113
C28676
Rough diamond distribution
The subject deals with:
DIAMOND TRADING CO BOTSWANA
MALCA AMIT
TRAVEL WISE
GRAND PALM
Diamond Industry
Botswana
India, Belgium, Israel, South Africa, United Arab Emirates, Hong Kong
and the USA
25
None
The premises are
reported to be leased
BWP100 divided into 100 ordinary shares of BWP1
each
BWP100
The following estimated financial situation was
submitted as at 6 October 2014:
STOCK BWP 400 000 000
CASH BWP 390 000 000
FIXED ASSETS BWP 14 600 000
TURNOVER per annum BWP1
000 000 000
KPMG
MARCH
AON INSURANCE BROKERS
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT
EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. +1 years Open R 200 000 30 days 30 days Very Good
2. June 2013 Open R
70 000 60 days 30 days Excellent
3. May 2013 R 30 000 R 25 000 30
days 30 days Excellent
(These descriptions relate respectively by number
to the above current trade transactions):
1. Rental
2. Courier
3. Accommodation
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. May
2013 BWP30 000 Declined 30 days 30 days Very
Good
2. 1
year Declined R 100 000 30 days 30 days Very Good
3. 1
year Open BWP500 000 30
days 30 days Very Good
(These descriptions relate respectively by number
to the above current trade transactions):
1. Accommodation
2. Courier
3. Accommodation
This is a new business which is owned by the
Botswana Government. The subject is
meeting its commitments timeously. The subject appears to be cash flush at
present.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.32 |
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|
1 |
Rs.99.00 |
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Euro |
1 |
Rs.78.14 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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.