MIRA INFORM REPORT

Report No. :	314038
Report Date :	03.04.2015

IDENTIFICATION DETAILS

Name :	CONDOR MEDICAL AFRICA (PTY) LTD

Formerly Known As :	JOZISYS INVESTMENTS

Registered Office :	196 Oxford Road Snr, Chaplin Road Suite 102, 1^st Floor Oxford Manor, Illovo Johannesburg Gauteng, P O Box: 425, Parkland 2121

Country :	South Africa

Date of Incorporation :	20.10.2010

Com. Reg. No.:	2010/021246/07

Legal Form :	Private Company

Line of Business :	The subject operates as representatives and distributors of medical devices that are required for cardiology.

No. of Employees :	±10

RATING & COMMENTS

MIRA’s Rating :

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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

South Africa

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

CONDOR MEDICAL AFRICA (PTY) LTD

Formerly: JOZISYS INVESTMENTS

PHYSICAL ADDRESS

196 Oxford Road Snr

Chaplin Road Suite 102

1^st Floor Oxford Manor

ILLOVO

Johannesburg

Gauteng

POSTAL ADDRESS

P O Box 425

PARKLAND 2121

TELEPHONE NUMBER

+27 11 268 2296

FAX NUMBER

+27 86 528 8367

SHAREHOLDERS

The shareholder information was declined by the respondent at the subject, as it was deemed private and personal information.

DIRECTORS

I HEWETT ID No. 6602175251088

BANKERS

ABSA BANK, Business Banking branch. Further banking details were declined by the respondent at the subject.

DATE REGISTERED

20 October 2010

Registration Certificate Number: 2010/021246/07

CONDOR MEDICAL AFRICA (PTY) LTD was established as a new company in 2010.

VAT NUMBER

4680258581

TAX NUMBER

9662632158

BBBEE STATUS

Level 4 contributor

MAJOR OPERATION

The subject operates as representatives and distributors of medical devices that are required for cardiology. These devices fall under the NEOGEN, MOZEC and BIOMINE products. It was stated that the subject are members of SAMED and SASCI.

MAJOR SUPPLIERS

The subject imports all of its supplies from India, and uses only one local clearing agent.

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.

MAJOR CUSTOMERS OR BUSINESS SECTORS

Medical hospitals, clinics and health professionals

AREA OF DISTRIBUTION AND SELLING

South Africa

EXPORTS

None

TOTAL EMPLOYEES

±10

OTHER PREMISES

None

OWNED OR LEASED

The premises are reported to be leased.

FINANCIALS

Full financial information was not forthcoming from respondents at the subject and outside authorities were unable to assist in this regard.

AUDITORS

In the process of appointing new auditing officers

YEAR END

FEBRUARY

INSURANCE BROKERS

COMRISK RISK INSURANCE BROKERS

CURRENT TRADE REFERENCES

ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE

OPENED CREDIT CREDIT PATTERN

1. Do not give trade references, against company policy

COMMENTS

This is an established company, however, due to the lack of financial information and a payment pattern we are unable to recommend any unsecured credit dealings.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.59
UK Pound	1	Rs.92.46
Euro	1	Rs.67.51

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	NIT

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.