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Report Date : |
04.09.2014 |
IDENTIFICATION DETAILS
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Name : |
SNAK SNAKS (PTY)LTD |
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Registered Office : |
Unit |
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Country : |
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Date of Incorporation : |
06.12.2013 |
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Com. Reg. No.: |
K2013/228343/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Other activities not adequately defined. |
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No. of Employees |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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 |
|
Subject Name |
SNAK SNAKS (PTY)LTD |
|
Country |
South Africa |
|
Subject Contact Person |
JEAN-PIERRE PELSER - Financial Manager |
|
Assessment |
On investigation contact was made with
JEAN-PIERRE PELSER the financial manager who declined all of the required
information on the subject. MR. PELSER has stated that the management is
still deciding if they going to do business with the entity in India or not.
If the subject decides to do business with the entity, MR PELSER has agreed
to divulge all of the requested information. Please see the available
information on the subject below. |
|
Registered Name |
SNAK SNAKS (PTY)LTD |
|
Trading as/ Division Name |
SNAK SNAKS |
|
Previous Name |
None |
|
Date of Name Change |
None |
|
Registration Number |
K2013/228343/07 |
|
Registration Date |
2013/12/06 |
|
Date Commenced Trading |
2013-12-06 |
|
Age of Business |
8 Months |
|
History of Business |
The company was established in 2013 and
operations commenced immediately. |
|
History of Principals |
There are 2 active directors within the
company |
|
Shareholders/Members/Partners of subject
and % holding |
Unavailable |
|
Status |
In Business |
|
Operations Assessment |
Unavailable |
|
Industry/ Customers |
Unavailable |
|
Major Industry Code / SICC |
9000 |
|
Definition of Code |
Other activities not adequately defined. |
|
Head Office Physical Address |
Unit 2 Marken Place, 12 Woodlands Drive,
WATERFALL, 3652 |
|
Head Office Postal Address |
P O BOX 1795, LINKHILLS, KWA-ZULU NATAL,
3652 |
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Current Tel Number |
0317663024 |
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Cell Number |
Unavailable |
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Current Fax Number |
Unavailable |
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Current Email Address |
|
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Web Site Address |
Unavailable |
Auditors Information - No Information on
Record
Previous Auditors Information - No
Information on Record
Tax Information - No Information on Record
Black Economic Empowerment Information - No
Information on Record
ISO Information - No Information on Record
Work Mans Information - No Information on
Record
Subsidiaries Information - No Information on
Record
Employees Information - No Information on
Record
Company Fleet Information - No Information
on Record
Offices Information - No Information on
Record
Branch Information - No Information on
Record
Organisation Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
Director |
BRUCE HUGHES |
|
|
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|||
|
1 |
Director |
ANNE SMITH |
|
Company Structure Information - No
Information on Record
Note: One level
up and all levels down
Key Deals - No Information on Record
Trade References Information - No
Information on Record
Judgements - No information on record
BusinessRescue - No Information on Record
Default Listing - No information on record
Notarial Bonds - No information on record
Bank Information - No Information on Record
Bank Code History - No Information on Record
Previous Bank Account Information - No
Information on Record
Deeds Information - No information on record
|
Number of Principals |
2 |
|
Average Age of Active Principals |
36 |
|
Active Principals Principal - 1 of 2 BRUCE
HUGHES |
|
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Surname |
HUGHES |
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First Name |
BRUCE |
|
Other Names |
None |
|
Marital Status |
|
|
ID Number |
7607195127084 |
|
Verified ID Number |
Yes |
|
Current Age |
38 Years 1 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
2013/12/06 |
|
Physical Address (at time of Appointment) |
6 FAIRWAYS REACH, MOUNT EDGECOMBE, DURBAN,
KWA-ZULU NATAL, 4302 |
|
Postal Address |
P O BOX 25050, GATEWAY, 4321 |
|
Current Tel Number |
0312408181 |
|
Cell number |
0837771369 |
|
Shareholding/Membership |
0.00 |
Business Information for BRUCE HUGHES
Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
EXPRESS MODEL TRADING 292 (PTY)LTD |
M2001/011209/07 |
Voluntary Liquidation |
13 Years 1 Months |
0 |
Yes |
|
|
MONTEAGLE AFRICA LTD |
M2002/013127/06 |
In Business |
0 |
0 |
No |
|
|
MONTEAGLE MERCHANDISING SERVICES (PTY)LTD |
K2012/041227/07 |
In Business |
2 Years 2 Months |
0 |
No |
|
|
MONTEAGLE MERCHANDISING SERVICES KZN
(PTY)LTD |
K2012/126070/07 |
In Business |
2 Years 2 Months |
0 |
No |
|
|
SNAK SNAKS (PTY)LTD |
K2013/228343/07 |
In Business |
1 Years 1 Months |
0 |
No |
|
Principal's Previous Business Interests - No
information on record
Principal Deeds Information Property Interests for BRUCE HUGHES
|
Title Deed No. |
T31049/2004 |
Erf/Site No. |
757 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
6 FAIRWAYS MOUNT EDGECOMBE COUNTRY ESTATE
2 MOUNT EDGECOMBE |
|
Property Type |
E |
Extent / Size |
|
|
Purchase Date |
2004/02/19 |
Purchase price |
R 700000.00 |
|
% Ownership |
0.00 |
Bond Holder |
STANDARD BANK OF SOUTH AFRICA L |
|
Bond Number |
B261702004 |
Bond Amount |
R1400000.00 |
|
Comment |
|
||
Principal - 2 of 2
ANNE SMITH
|
Surname |
SMITH |
|
First Name |
ANNE |
|
Other Names |
None |
|
Marital Status |
|
|
ID Number |
7901050099086 |
|
Verified ID Number |
Yes |
|
Current Age |
35 Years 7 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
2013/12/06 |
|
Physical Address (at time of Appointment) |
11 STRADFORD, ZUNIS CLOSE, MOUNT
EDGECOMBE, DURBAN, 4302 |
|
Postal Address |
P O BOX 25050, GATEWAY, GATEWAY, 4321 |
|
Current Tel Number |
0315663962 |
|
Cell number |
0829276394 |
|
Shareholding/Membership |
0.00 |
Business Information for ANNE SMITH
Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
MONTEAGLE AFRICA LTD |
M2002/013127/06 |
In Business |
0 |
0 |
No |
|
|
MONTEAGLE MERCHANDISING SERVICES (PTY)LTD |
K2012/041227/07 |
In Business |
2 Years 2 Months |
0 |
No |
|
|
MONTEAGLE MERCHANDISING SERVICES KZN
(PTY)LTD |
K2012/126070/07 |
In Business |
2 Years 2 Months |
0 |
No |
|
|
SNAK SNAKS (PTY)LTD |
K2013/228343/07 |
In Business |
1 Years 1 Months |
0 |
No |
|
Principal's Previous Business Interests - No
information on record
Principal Deeds Information Property Interests for ANNE SMITH
|
Title Deed No. |
ST41925/2013 |
Erf/Site No. |
434 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
MOUNT EDGECOMBE EXT 3 |
|
Property Type |
U |
Extent / Size |
339.0SQM |
|
Purchase Date |
2013/09/30 |
Purchase price |
R 3900000.00 |
|
% Ownership |
0.00 |
Bond Holder |
FIRSTRAND BANK LIMITED |
|
Bond Number |
SB262872013 |
Bond Amount |
R1500000.00 |
|
Comment |
|
||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.54 |
|
UK Pound |
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.79.54 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>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 |
|
|
26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
|
|
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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
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.