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Report No. : |
308957 |
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Report Date : |
27.02.2015 |
IDENTIFICATION DETAILS
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Name : |
JUNIT MANUFACTURING CC |
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Formerly Known As : |
JUANJES MANUFACTURERS CC |
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Registered Office : |
37 Voor Street Utrecht Kwazulu-Natal, P O Box 483 Utrecht 2980 |
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Country : |
South Africa |
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Date of Incorporation : |
06.03.1991 |
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Com. Reg. No.: |
1991/005896/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Manufacturers of active wear and pyjamas for Woolworths, |
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No. of Employee : |
550 |
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 : |
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
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 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 |
JUNIT
MANUFACTURING CC
Formerly: JUANJES MANUFACTURERS CC, the name having
been changed on 6 March 1991.
PHYSICAL ADDRESS
37 Voor Street
UTRECHT
KwaZulu-Natal
POSTAL ADDRESS
P O Box 483
UTRECHT
2980
TELEPHONE NUMBER:+27 34 331 4524
FAX NUMBER: +27
86 585 3812
MEMBERS:
100% Mrs L BESTER ID
No. 5611100084085
JURIS MANUFACTURERS (PTY) LTD, situated in
Swaziland.
FIRST NATIONAL BANK, Utrecht Branch. Further information on banking details was
declined by respondents at the subject.
6 March 1991
Registration Certificate Number: 1991/005896/23
The subject utilised a shelf close corporation for
registration purposes and commenced active trading in 1991.
VAT NUMBER: 4090118946
TAX NUMBER: 9130078679
BEE STATUS: Level 6 contributor
Manufacturers of active wear and pyjamas for
Woolworths, which ultimately carry the WOOLWORTHS brand name.
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.
Woolworths
Specifically to Woolworths head office.
None
The subject employs approximately 550 staff. It was stated that the sister company employs approximately 1 400 employees.
None
The premises are
reported to be owned by the member’s husband in his personal capacity.
Full financial
information was not forthcoming from the financial manager at the subject, who
stated that only Mr J Bester is authorised to assist with financial
information. An email request was
forwarded to Mr Bester, and as soon as further information is forthcoming the
same will be compiled and forwarded to our client.
VON STEYN LABUSCHAGNE INC.
FEBRUARY
AON INSURANCE BROKERS
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT
EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. ±20 years Declined R500 000- 60 days 60
days Good
R2 000 000
2. Feb 1997 R600 000 R100 000 60 days 60-65
days Good
3. Against company policy to
divulge trade reference information.
(These descriptions relate respectively by number
to the above current trade transactions):
1. Textiles
2. Zips
and fasteners
This is a very well established business
meeting its commitments over terms at times but the suppliers regard the
subject highly. But the account may require disciplining. It should be noted be
noticed that their only customer has in the past proven to be very demanding
and at times ruthless if deadlines and quality specifications are not met.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.94 |
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1 |
Rs.96.24 |
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Euro |
1 |
Rs.70.39 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
ANK |
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.