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Report No. : |
299817 |
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Report Date : |
03.02.2014 |
IDENTIFICATION DETAILS
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Name : |
EPG BELEGGINGS CC |
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Registered Office : |
C/o 450 DF Malan
Drive and Bloed Street, Pretoria,
Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
24.02.1992 |
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Com. Reg. No.: |
1992/004916/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
Subject is wholesalers, retailers and distributors of LPG gas
cylinders. |
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No. of Employee : |
15 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 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 |
EPG GAS
C/o 450 DF Malan Drive and Bloed Street, Pretoria, Gauteng
Telephone Number: +27 12 324 3294
On investigation it was established that the
correct legal name for the subject is EPG BELEGGINGS CC which trades as EPG
GAS. Please find attached a report for the subject EPG BELEGGINGS CC.
EPG BELEGGINGS CC
EPG GAS
C/o 450 DF Malan Drive
and Bloed Street, PRETORIA, Gauteng
Postal Address: P O Box 35758, MENLO
PARK, 0102
Telephone Number: +27 12 324 3294
Fax Number: +27 12 328 6778
40% E LE ROUX ID
No. 7911150006089
40% S UYS ID
No. 7609180156086
10% H LE ROUX ID
No. 7407130049083
10% P G LE ROUX ID No. 8107165069084
The subject banks with
ABSA, Andries Street. The subject does not require an overdraft facility as
credit balances are maintained at the bank.
24 February 1992
Registration
Certificate Number: 1992/004916/23
It was stated that the
subject commenced trading in 1992 as a new business.
4040135206
9260906640
Non-compliant
Wholesalers, retailers and distributors of LPG gas cylinders.
It was stated that the subject operates on a strict COD basis only with
the sole supplier.
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.
General public
Pretoria and
surrounding areas
15
The premises are reported to be owned, further details were not forthcoming
from the respondent at the subject.
R100
Full financial information was not forthcoming from the respondent at
the subject and outside authorities were unable to assist in this regard.
J W VAN DEN BERG
FEBRUARY
SANTAM INSURANCE BROKERS
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1.Do not give
trade references- which is the subject’s only supplier, but the subject only
deals on a COD basis.
This is a-well
established company that deals on a strict COD basis with its only supplier
whose company policy is to not give out trade references, Due to the lack of a payment
pattern, financial information and the fact that the subject deals only on a
COD basis, we suggest dealings be on a COD basis or a letter of credit basis
only. Consequently we are unable to recommend a maximum credit.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.88 |
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|
1 |
Rs. 93.27 |
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Euro |
1 |
Rs. 69.94 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ASH |
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 |
-- |
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.