|
Report No. : |
309681 |
|
Report Date : |
27.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
XCO SPORT AND
TEAMWEAR (PTY) LTD |
|
|
|
|
Formerly Known As : |
SILVER FALCON TRADING 350 (PTY) LTD |
|
|
|
|
Registered Office : |
Route 21, Corporate Park, 101 Sovereign Drive, Irene, Pretoria ,Gauteng |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
16.08.2005 |
|
|
|
|
Com. Reg. No.: |
2005/028338/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Subject is Manufacturer and
suppliers of school and university sports equipment and corporate clothing. |
|
|
|
|
No. of Employee : |
60 |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
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 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
XCO SPORT AND TEAMWEAR (PTY)
LTD
Formerly: SILVER FALCON TRADING 350 (PTY) LTD, the name having been
changed on 23 November 2005.
Route 21
Corporate
Park
101
Sovereign Drive
IRENE
Pretoria
Gauteng
POSTAL ADDRESS: P O Box 29620
SUNNYSIDE
0132
TELEPHONE NUMBER: +27 12 481
9260
FAX NUMBER: +27 861 926 776
It
was established that the physical address 807 Park Street, Arcadia, Pretoria, was
the previous physical address of the subject. The subject reportedly moved
premises in 2014.
33.33% M S J MAZIBUKO
33.33% H M MAREE
33.33% M I FERREIRA
None
M S J MAZIBUKO ID
No. 6012185785085
H M MAREE ID
No. 6611155170085
M I FERREIRA ID
No. 7403085175080
FIRST NATIONAL BANK,
Hatfield branch. It was stated that the subject does not require an overdraft
facility as credit balances are maintained at the bank.
16 August 2005
Registration Certificate
Number: 2005/028338/07
The shelf company
SILVER FALCON TRADING 350 (PTY) LTD was utilised for registration purposes. The
company underwent a name change on 23 November 2005 when the operations began.
VAT NUMBER: 4340225079
TAX NUMBER: 9332756155
BBBEE STATUS: Level
3 contributor
Manufacturers and suppliers of school and university sports equipment
and corporate clothing.
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.
Schools, universities,
corporates and industry in general
South Africa
African countries
60
The premises are reported to be leased.
R1 000 divided into 1 000 ordinary shares of R1 each
R100
The following
estimated financial situation was submitted as at 25 February 2015:
STOCK R 8 000 000
DEBTORS R10 000
000
CREDITORS R 4 000 000
TURNOVER per annum R80 000
000
J M OOSTHUIZEN
DECEMBER
MUTUAL AND FEDERAL INSURANCE BROKERS
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2006 R5 000 000 R1 000 000 60 days 60 days Good
2. 2009 R200 000 R200 000 30 days 30 days Good
3. +5 years Declined Declined 60 days 60
days Good
4. Do not
give trade references
(These descriptions relate respectively by number to the above current
trade transactions):
1. Corporate
clothing
2. Corporate
clothing
3. Sport
clothing
This is an established company which is meeting its
commitments as per arranged terms. Suppliers regard the subject well.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.94 |
|
|
1 |
Rs.96.24 |
|
Euro |
1 |
Rs.70.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.