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Report No. : |
309381 |
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Report Date : |
27.02.2015 |
IDENTIFICATION DETAILS
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Name : |
AHS ATLANTIC TRADING SA (PTY) LTD |
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Registered Office : |
311 Mary Street, Florida, Roodepoort Gauteng,
1710 |
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Country : |
South Africa |
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Date of Incorporation : |
10.09.2013 |
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Com. Reg. No.: |
2013/165656/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Traders locally and a brokerage internationally supplying worldwide
buyers with various local agricultural products. |
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No. of Employees : |
15 Permanent Staff |
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 : |
Slow |
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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 |
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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.
|
Source
: CIA |
AHS ATLANTIC TRADING SA (PTY) LTD
PHYSICAL ADDRESS
311 Mary Street
FLORIDA
Roodepoort
Gauteng
POSTAL ADDRESS:
311 Mary Street
FLORIDA
Roodepoort
Gauteng
1710
+27 11 051 4418
100% A H
SEEBA
None
A H SEEBA Ppt
No. H2511834
It would appear that the
director is not a South African citizen
FIRST NATIONAL BANK. Braamfontein Branch. It was stated that the subject does not
require overdraft facilities as credit balances are maintained at the bank.
10 September 2013
Registration Certificate Number: 2013/165656/07
It was stated that the director was previously
involved in another business, the name of which is unknown, in a similar field,
as a member. In 2013 he split started
the subject when he left the business.
4360106533
Unknown to the
respondent.
Non-Compliant
Traders locally and a brokerage internationally
supplying worldwide buyers with various local agricultural products. No specific brand names are held by the
subject.
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.
It was stated that the subject only deals on a
C.O.D basis, and has no accounts.
The agricultural industry
South Africa
Worldwide
15 permanent staff
The subject is reported
to have a temporary office situated in Luxemburg.
The premises are
reported to be leased
The following estimated financial situation was
submitted as at 24 February 2015:
STOCK Per
order
DEBTORS C.O.D
CREDITORS C.O.D
TURNOVER per annum +R5 000
000
It was stated that auditors are utilised as
required.
JUNE
OUTSURANCE INSURANCE BROKERS
Not applicable
This is a comparatively newly established
small business which deals strictly on a C.O.D basis and is not a general
credit seeker. In view of the lack of an
established payment pattern and full financial information, it is recommended
that dealings be on a letter of credit basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.94 |
|
|
1 |
Rs.96.24 |
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Euro |
1 |
Rs.70.39 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.