|
Report Date : |
11.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
SONAR SHA ENTERPRISES CC |
|
|
|
|
Registered Office : |
Shop |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
03.05.2001 |
|
|
|
|
Legal Form : |
Closed Corporation |
|
|
|
|
Line of Business : |
The subject imports, exports and distributes Hindu traditional and cultural supplies. It was stated that the subject also sells IT supplies on a small scale. |
|
|
|
|
No. of Employees |
5 including the
member |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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 |
|
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 |
COMPANY NAME: SONAR SHA ENTERPRISES CC
TRADING
NAME: SANSKRITI
PHYSICAL
ADDRESS: Shop No. 2
Central Square
Arcadia 51
Hanover Street
MAYFAIR
Johannesburg
Gauteng
POSTAL
ADDRESS: 1389 Spitskop Street
BERGBRON
1709
TELEPHONE
NUMBER: +27 11 837
7927
FAX NUMBER: +27 86 535 1312
MS S TAKHU ID
No. 7407160200085
It was stated
that the member is also on the Board of Directors of the non-profit
organisation, THE HINDU OMKAR PANCH EKTA SANGH.
FIRST NATIONAL
BANK, Randburg Commercial branch. It was stated that the subject has overdraft
facilities available, however, the facility has never been utilised.
3 May 2001
Registration
Certificate Number: 2001/027536/23
4810247116
9048338140
Level 3
contributor
The subject imports, exports and distributes
Hindu traditional and cultural supplies. It was stated that the subject also
sells IT supplies on a small scale.
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 general public
South Africa
None
5 including the member
None
The premises are reported to be leased
Full financial information was not
forthcoming from respondents at the subject, however, the turnover as at 28 February
2014 was R460 503 for the year.
AUDITORS: DESIGARAJEN
ARUMUGAM MOODLEY
YEAR END: FEBRUARY
INSURANCE BROKERS: None
CURRENT TRADE
REFERENCES:
ACCOUNT HIGHEST
AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT
CREDIT PATTERN
1. 4 years N/a R5 000 C.O.D C.O.D Good
2.
Awaiting email trade reference
3.
Do not give trade references
(These descriptions relate respectively by
number to the above current trade transactions):
1.
Whey products
This is an established small business which
imports most of its supplies and deals with one small local obtainable supplier
on a C.O.D basis. In view of the lack of full financial information and an established
payment pattern, it is suggested that dealings be on a letter of credit basis
only.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.83 |
|
UK Pound |
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.78.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
|
|
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 |
|
|
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.