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Report Date : |
02.09.2014 |
IDENTIFICATION DETAILS
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Name : |
COMPO AGENCIES (PTY) LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
22.03.1973 |
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Com. Reg. No.: |
1973/003642/07 |
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Legal Form : |
Private Company |
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Line of Business : |
The subject acts as commissioned agents for overseas principals
specialising in packaging film (film used for packaging). It was stated that the subject has recently
started keeping a small stock on hand as well. It was stated that there are no specific brand
names or types |
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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 01, 2014
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 |
COMPO AGENCIES
(PTY) LTD
150 Woburn Avenue
BENONI WEST
Benoni
Gauteng
P O Box 17164
BENONI WEST
1503
TELEPHONE NUMBER: +27 11
421 6321
FAX NUMBER: +27
11 422 3648
100% D N GREENSLADE
MIKAMED (PTY) LTD – It was stated that the
shareholder is a director of the
associate company.
D N GREENSLADE (Sole director)
ID No.6302185039009
STANDARD BANK, Benoni Branch. It was stated that the subject does not
require overdraft facilities as credit balances are maintained.
22 March 1973
Registration Certificate Number: 1973/003642/07
4410119830
9135070846
Level 4 contributor
The subject acts as commissioned agents for
overseas principals specialising in packaging film (film used for
packaging). It was stated that the
subject has recently started keeping a small stock on hand as well. It was stated that there are no specific
brand names or types.
The subject imports all its supplies from
its overseas principals and deals locally with a freight forwarder.
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.
The packaging industry
South Africa
None
5
None
The premises are reported to be leased
R10 000 divided into 10 000 ordinary shares
of R1 each
R10 000
The following
estimated financial information was submitted as at 25 August 2014:
STOCK R 700 000
DEBTORS R 350 000
CREDITORS R 329 000
TURNOVER per annum R3 900 000
ROGAN KIHN & COMPANY
Randburg
JUNE
REEF INSURANCE BROKERS
TRADE
REFERENCES – JUNE 2005:
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 1997 R50 000 R20 000 -
30 days 30
days Excellent
R50
000
TRADE REFERENCES –
FEBRUARY 2012:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2007 R1 000 000 +R100 000 30 days 30
days Very Good
TRADE REFERENCES –
JULY 2013:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1.
7 years R100 000 R70 000- 30 days 30 days Excellent
R80 000
CURRENT TRADE
REFERENCES:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Aug 2008 R 100 000 R 70 000 30 days 30
days Very Good
(These descriptions
relate respectively by number to the above current trade transactions):
1. Freight Forwarders
This is a well-established small company that is not a general credit
seeker locally. The subject is meeting its one local commitment timeously and
is spoken of highly by the freight forwarder.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.47 |
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1 |
Rs.100.42 |
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Euro |
1 |
Rs.79.39 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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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.