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Report No. : |
307236 |
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Report Date : |
17.02.2015 |
IDENTIFICATION DETAILS
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Name : |
MASQUERADE ANTIQUES AND THINGS CC |
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Registered Office : |
Unit 32 Medical Centre House Ii, |
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Country : |
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Date of Incorporation : |
29.08.2003 |
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Com. Reg. No.: |
B2003/072928/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
Subject is offers a selection of home-ware, body & bath
products, candles, fine linen, kitchenware, furniture & more. |
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No. of Employee : |
3 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
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.
|
Source
: CIA |
Subject Contact PersonMARTIE HEYNS FOSTER - Member/Owner |
This is a well-established business. On investigation contact was made with
the Owner, MARTIE HEYNS FOSTER who assisted with the required information. The
company is meeting its commitments timeously with suppliers. The subject
effects a substantial turnover. A bank code C was obtained for an enquiry
amount of R100 000 over 30 days. No adverse information was revealed. Please see the information obtained below.
|
Registered Name |
MASQUERADE ANTIQUES AND THINGS CC |
|
Trading as/ Division Name |
MASQUERADE |
|
Previous Name |
None |
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Date of Name Change |
None |
|
Registration Number |
B2003/072928/23 |
|
Registration Date |
2003/08/29 |
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Date Commenced Trading |
2003 |
|
Age of Business |
11 Years 6 Months |
|
History of Business |
MASQUERADE ANTIQUES AND THINGS CC was registered in 2003. |
|
History of Principals |
There is 1 active Member within the business. |
|
Shareholders/Members/Partners of subject and % holding |
100% - MARTIE HEYNS FOSTER |
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Authorised Share Capital |
|
|
Issued Share Capital/Members Contribution |
R 100.00 |
|
Status |
Active |
|
Operations
Assessment |
The subject offers a selection of home-ware, body & bath products, candles, fine linen, kitchenware, furniture & more. The ranges are designed & developed, imported or hand picked by the owner. |
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Industry/ Customers |
Retail |
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Export |
None |
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Export Countries |
|
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Import |
Yes |
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Import Countries |
|
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Major Industry Code / SICC |
61399 |
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Definition of Code |
Wholesale trade in other household goods n.e.c |
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Head Office Physical Address |
NO 1 KRUGER STREET, FRANSCHHOEK, 7690 |
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Head Office Postal Address |
PO BOX 191, FRANSCHHOEK, 7690 |
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Current Tel Number |
0218763944 |
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Cell Number |
0832344082 |
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Current Fax Number |
0218764626 |
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Current Email Address |
shop@masquerade.co.za |
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Web Site Address |
www.masquerade.co.za |
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Comments |
|
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Company Registered Name |
VISSER LOUW PROFFESIONAL ACCOUNTANTS SA CC |
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Trading Name |
VL PROFESSIONAL ACCOUNTANTS |
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Registration Number |
2006/185966/23 |
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Physical Address |
UNIT 32 MEDICAL CENTRE HOUSE II,WELLINGTON PARK,DURBANVILLE, 7550 |
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Postal Address |
P O BOX 4215, DURBANVILLE, 7551 |
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Contact Person |
RYNARDT VISSER |
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Contact Number |
0726273841 |
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Email |
Unavailable |
|
Principals |
1 |
|
Judgements Against Subject |
None |
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Judgements Against Principals |
None |
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Subject Verified as Client |
|
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Practice Number |
9169 |
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VAT Number |
4850211543 |
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Tax Number |
9341841154 |
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BEE Status |
Unavailable |
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Financial Year End |
February |
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No of years in Business |
4 Years 10 Months |
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Website |
Unavailable |
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Comment |
Landline: 021 975 0361 |
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Previous Auditors Information - No Information on Record |
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Vat Number |
4530208562 |
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Status |
ACTIVE |
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Vat Liable Date |
2003/09/01 |
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Tax Number |
9919506148 |
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Tax Clearance Expire Date |
|
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Financial Year End |
February |
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Comment |
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Status |
No |
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Score |
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Expire Date |
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BEE Certificate Available |
No |
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Comment |
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ISO Status |
|
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Type of ISO Grade |
No |
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ISO Certificate |
No |
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ISO Certificate Available |
No |
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Certified by an Accredited Agent |
No |
Comment |
|
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Workman’s compensation |
|
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Registered |
Yes |
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Compliance Certified |
Yes |
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Comment |
|
SUBSIDIARIES
|
Subsidiary Company |
None |
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Shareholding |
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Registration Number |
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Import / Export |
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Comment |
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EMPLOYEES
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Number of Employees |
3 |
1. Salaried employees
2. Waged employees
3. Permanent employees
4. Casual employees
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5. Contracted employees |
3 |
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Comment |
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COMPANY FLEET
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Company Fleet |
No of vehicles: |
Owned/Leased |
Value |
Outstanding Balance |
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Fleet Operations |
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The Fleet is made up of |
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Comment |
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None |
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OFFICES
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Offices |
Offices |
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Head Office Owned/ Rented |
Leased |
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Rental Company |
MERLICO 148 CC |
Owned by
Value
Bond
Bank
|
Lease Agreement |
5 Years |
Lease Expire Date
|
Type of Premises |
Shop/Store |
Comment
BRANCH DETAIL
INFORMATION
Branches Owned/ Rented Rental Company
Owned by
Value
Bond Bank
Lease Agreement Lease Expire Date Type of Premises
|
Comment |
None |
ORGANISATION CHART
|
Level |
Position |
Name |
Comment |
|
1 |
MEMBER |
MARTIE HEYNS FOSTER |
|
COMPANY STRUCTURE
(OWNERSHIP)
Note: One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
100% - MARTIE HEYNS FOSTER |
MASQUERADE ANTIQUES AND THINGS CC |
None |
|
Key Deals - No
Information on Record
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
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SUMMIT RIDGE |
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1 |
|
0828230870 |
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TRADING |
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2 |
BLEND SA |
0312668532 |
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3 |
KAPULA CANDLES |
083 4103005 |
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4 |
CHARISMA CANDLES |
0832512188 |
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5 |
TAO PRINTERS |
0215106006 |
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Trade References Detail
Average
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Terms Taken |
Comment |
|
1 |
11 Years |
|
30 Days |
R 60000 |
30 Days |
There is no credit limit set in place. This is a very good account. |
|
2 |
+1.5 Years |
|
30 Days |
R 80000 |
30 Days |
There is no credit limit set in place. This is a very good account. |
|
3 |
+10 years |
|
30 Days |
R 15000 |
30 Days |
There is no credit limit set in place. This is a very good account. |
|
4 |
3 Years |
|
30 Days |
R 100000 |
30 Days |
There is no credit limit set in place. This is a very good account. |
|
5 |
5 Years |
|
30 Days |
R 20000 |
30 Days |
There is no credit limit set in place. The average purchases differ based on how many units are sent in per month.
The subject pays mostly on a COD basis. This is a very good account. |
|
Bank |
NEDBANK |
|
Branch |
FRANSCHHOEK |
|
Brach Code |
198765 |
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Bank Account Number |
1470072963 |
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Type of Account |
CHEQUE |
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Account Name |
MASQUERADE ANTIQUES AND THINGS CC |
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Overdraft Facilities |
Yes - R100 000 |
|
Bank Code |
C for R100 000.00 |
|
Bank Comment |
The subject’s bankers consider them good for all normal business
engagements. |
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Current Turnover per month |
R 416666.67 |
|
Current Turnover per annum |
R 5000000.00 |
|
Comment |
The figures are estimated. |
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Please note the
following: |
|
Turnover and assets less than R 1,000,000.00 |
The subject falls within the National Credit Act |
|
Turnover and assets less than R 2,000,000.00 |
The subject falls within the Consumer Protection Act |
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Number of Principals |
1 |
|
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Average Age of Active Principals |
48 |
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Number of Inactive Principals |
|
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Active
Principals |
|
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Active Principal
– 1 of 1 |
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MARTI FOSTER |
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Surname |
FOSTER |
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First Name |
MARTI |
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Other Names |
HEYNS |
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Marital Status |
|
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ID Number |
6709180015083 |
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Verified ID Number |
Yes |
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Current Age |
47 Years 5 Months |
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Designation |
Member |
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Status |
Active |
|
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Appointment Date |
2003/08/29 |
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Physical Address (at time of Appointment) |
PO BOX 191, FRANSCHHOEK, 7690 |
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Postal Address |
NO 1 KRUGER STREET, FRANCHHOEK, 7690 |
|
|
Current Tel Number |
0218769344 |
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Cell number |
0832344082 |
|
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Shareholding/Membership |
100% |
|
Business
Information for MARTI FOSTER
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
MASQUERADE ANTIQUES AND THINGS CC |
B2003/072928/23 |
Deregistration Process |
0 |
0 |
No |
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MASQUERADE ANTIQUES CC |
B2000/049002/23 |
Deregistration Final |
15 Years 3 Months |
0 |
No |
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WATES MEIRING AND BARNARD EASTERN GAUTENG (PTY)LTD |
M2000/000249/07 |
Deregistration Process |
15 Years 3 Months |
0 |
No |
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PRINCIPAL DEEDS
INFORMATION
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Property Interests for |
MARTI FOSTER |
|
|
Title Deed No. |
T39972/1995 |
|
Erf/Site No. |
106 |
|
Deeds Office |
CAPE TOWN |
|
Physical Address |
FRANSCHHOEK |
|
Property Type |
F |
|
Extent / Size |
1001.00000000 |
|
Purchase Date |
1995/02/20 |
|
Purchase price |
R 70000.00 |
|
% Ownership |
0.00 |
|
Bond Holder |
ABSA BANK LTD |
|
Bond Number |
B368501995 |
|
Bond Amount |
R 63000.00 |
|
Comment |
|
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Property Interests for |
MARTI FOSTER |
|
|
Title Deed No. |
T48639/2001 |
|
Erf/Site No. |
1688 |
|
Deeds Office |
CAPE TOWN |
|
Physical Address |
|
|
Property Type |
E |
|
Extent / Size |
|
|
Purchase Date |
2001/01/31 |
|
Purchase price |
R 60000.00 |
|
% Ownership |
0.00 |
|
Bond Holder |
|
|
Bond Number |
|
|
Bond Amount |
R 0.00 |
|
Comment |
|
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Property Interests for |
MARTI FOSTER |
|
|
Title Deed No. |
T48640/2001 |
|
Erf/Site No. |
1689 |
|
Deeds Office |
CAPE TOWN |
|
Physical Address |
|
|
Property Type |
E |
|
Extent / Size |
|
|
Purchase Date |
2001/01/31 |
|
Purchase price |
R 60000.00 |
|
% Ownership |
0.00 |
|
Bond Holder |
|
|
Bond Number |
|
|
Bond Amount |
R 0.00 |
|
Comment |
|
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.20 |
|
|
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
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|
Report Prepared
by : |
ASH |
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.