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Report No. : |
337474 |
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Report Date : |
26.08.2015 |
IDENTIFICATION DETAILS
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Name : |
PRATLEY (PTY) LTD |
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Registered Office : |
14 Jackson
Street, Factoria, Krugersdorp, Gauteng, P O Box 3055, Kenmare
1745 |
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Country : |
South Africa |
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Date of Incorporation : |
28.03.1996 |
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Com. Reg. No.: |
1996/003890/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Retailers,
Electrical Wholesalers and Hardware Stores. |
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No. of Employees : |
76 salaried and
125 waged staff within the Group. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 |
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 Africa’s largest and among the top 20 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. Economic growth has decelerated in recent years, slowing to just 1.5% in 2014. Unemployment, poverty, and inequality - among the highest in the world - remain a challenge. Official unemployment is roughly 25% of the work force, and runs significantly higher among black youth. Eskom, the state-run power company, is building three new power stations and is installing new power demand management programs to improve power grid reliability. Load shedding and resulting rolling blackouts gripped many parts of South Africa in late 2014 and early 2015 because of electricity supply constraints that resulted from technical problems at some generation units, unavoidable planned maintenance, and an accident at a power station in Mpumalanga province. The rolling black outs were the worst the country faced since 2008. Construction delays at two additional plants, however, mean South Africa will continue to operate on a razor thin margin; economists judge that growth cannot exceed 3% until electrical supply problems are resolved.
South Africa's economic policy has focused on controlling inflation; however, the country faces structural constraints that also limit economic growth, such as skills shortages, declining global competitiveness and frequent work stoppages due to strike action. The current government faces growing pressure from urban constituencies to improve the delivery of basic services to low-income areas and to increase job growth.
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Source
: CIA |
COMPANY NAME: PRATLEY
(PTY) LTD
PHYSICAL ADDRESS: 14
Jackson Street
FACTORIA
Krugersdorp
Gauteng
POSTAL ADDRESS: P
O Box 3055
KENMARE
1745
TELEPHONE NUMBER: +27
11 955-2190
FAX NUMBER: +27
11 955-3918
100% K G M PRATLEY
None, however, it was
stated that the subject is affiliated to a number of companies within the Group
of Companies through a common shareholder.
PRATLEY HOLDINGS
(PTY) LTD, a property owning company
Registration
Certificate Number: 1948/030233/07
PRATLEY
MANUFACTURING & ENGINEERING COMPANY (PTY) LTD, the Group purchasing
company.
Registration
Certificate Number: 1964/004175/07
K G M PRATLEY (CEO)
I D ELSWORTH
STANDARD BANK,
Krugersdorp, account number 021384541. The
account is in the name of PRATLEY MANUFACTURING & ENGINEERING COMPANY (PTY)
LTD, the purchasing company for the Group. It was stated that the subject does
not require an overdraft facility as credit balances are normally maintained.
28 March 1996
Registration
Certificate Number 1996/003890/07
PRATLEY
(PTY) LTD was established in March 1996.
4110156231
9037002624
Non-compliant
The subject is involved
in the sourcing of supplies and the distribution of products manufactured in
the affiliated companies, being: electrical cables, glands, junction boxes and
accessories used to anchor cables, as well explosion protected equipment. The subject is also involved in the
distribution of perlite, zeolite and diamonds from the affiliated mining
companies within the Group. The subject also distributes adhesives and putties
under the brand name, PRATLEYS, which is manufactured in an affiliated company.
Retailers,
electrical wholesalers and hardware stores.
South Africa
Into Africa and to
Australia.
76 salaried and 125
waged staff within the Group.
The
subject has branches in Cape Town, Port Elizabeth and Durban.
The premises are
reported to be owned by the subject, free of bond.
Full financial information was not forthcoming
from respondents at the subject and outside authorities were unable to assist
in this regard.
R S M BETTY &
DICKSON
JUNE
ECONORISK INSURANCE
BROKERS
It was stated that all accounts are in the name of the purchasing company
within the Group, PRATLEY MANUFACTURING & ENGINEERING
COMPANY (PTY) LTD.
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT
EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. +10 years R200
000 R75 000 30 days 30 days Very Good
2. 1996 R600
000 Up to 30 days Within Very Good
R450 000 30 days
3. +10 years Declined Declined 30
days 30 days Very Good
4. Against company policy to divulge trade
reference information.
(These descriptions relate respectively by number
to the above current trade transactions):
1. Printing
2. Chemicals
3. Non-Ferrous
metals
This is a well-established
and well-connected company which is part of a large Group of Companies. The subject is meeting its commitments
timeously and one of its commitments within terms and is highly esteemed by its
suppliers. It should be noted that
accounts are in the name of PRATLEY MANUFACTURING & ENGINEERING COMPANY
(PTY) LTD, however, which is the purchasing company within the Group. The subject is considered equal to a maximum
figure of €80 000 over 30 days. The
lack of financial information should, however, be borne in mind.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.71 |
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|
1 |
Rs.105.10 |
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Euro |
1 |
Rs.77.11 |
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.