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Report No. : |
303237 |
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Report Date : |
16.01.2015 |
IDENTIFICATION DETAILS
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Name : |
CORDISPEX CC |
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Registered Office : |
350 Umhlangane Road, Riverhorse Valley, Effingham, 4051 |
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Country : |
South Africa |
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Date of Incorporation : |
04.05.2010 |
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Com. Reg. No.: |
B2010/059742/23 |
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Legal Form : |
Private Company |
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Line of Business : |
Not Available Note: We tried to confirm
/ obtain the detailed activity but the same is not available from any
sources. |
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No. of Employee : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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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 (30.06.2014) |
Current Rating (30.09.2014) |
|
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 |
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Registered Name |
CORDISPEX CC |
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Trading as/ Division Name |
Unavailable |
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Previous Name |
Unavailable |
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Date of Name Change |
Unavailable |
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Registration Number |
B2010/059742/23 |
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Registration Date |
2010/05/04 |
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Date Commenced Trading |
2010 |
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Age of Business |
4 Years 8 Months |
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History of Business |
Unavailable |
|
History of Principals |
There is 1 active member within the business. |
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Shareholders/Members/Partners of subject and % holding |
100% - ASHLEY MAHARAJ |
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Authorised Share Capital |
R 0.00 |
|
Issued Share Capital/Members Contribution |
R 0.00 |
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Status |
In Business |
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Operations Assessment |
Unavailable |
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Industry/ Customers |
Unavailable |
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Export |
Declined |
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Export Countries |
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Import |
Declined |
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Import Countries |
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Major Industry Code / SICC |
9000 |
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Definition of Code |
Other activities not adequately defined. |
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Head Office Physical Address |
350 UMHLANGANE ROAD, RIVERHORSE VALLEY, EFFINGHAM, 4051 |
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Head Office Postal Address |
P O BOX 2939, DURBAN, 4001 |
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Current Tel Number |
Unavailable |
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Cell Number |
0833785568 |
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Current Fax Number |
Unavailable |
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Current Email Address |
Unavailable |
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Web Site Address |
Unavailable |
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Comments |
Please note: The Physical Address provided differs from the
Physical Address provided by the CIPC. |
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Company Registered Name |
M R MATHIR CONSULTANTS CC |
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Trading Name |
Unavailable |
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Registration Number |
2003/004995/23 |
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Physical Address |
3 ETTERBY, 40 CHANCELLOR AVENUE, BEREA, DURBAN, 4001 |
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Postal Address |
P O BOX 50699, MUSGRAVE, 4062 |
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Contact Person |
Unavailable |
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Contact Number |
Unavailable |
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Email |
Unavailable |
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Principals |
|
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Judgements Against Subject |
Unavailable |
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Judgements Against Principals |
Unavailable |
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Subject Verified as Client |
|
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Practice Number |
000997 |
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VAT Number |
Unavailable |
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Tax Number |
9078524155 |
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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 8 Months |
|
Website |
Unavailable |
|
Comment |
According to CIPC information, it states that M R MATHIR
CONSULTANTS CCs' business status is listed as Deregistration Final. However, this
information has not been confirmed. |
Previous Auditors
Information - No Information on Record
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Vat
Number |
4900256928 |
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Status |
ACTIVE |
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Vat
Liable Date |
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Tax
Number |
Unavailable |
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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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Black Economic Empowerment
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Status |
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Score |
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Expire
Date |
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BEE
Certificate Available |
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Comment |
Unavailable |
ISO Status
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Type
of ISO Grade |
Unavailable |
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ISO
Certificate |
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ISO
Certificate Available |
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Certified
by an Accredited Agent |
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Comment |
Unavailable |
Workman's compensation
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Registered |
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Compliance
Certified |
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Comment |
Unavailable |
Subsidiaries
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Subsidiary Company |
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Shareholding |
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Registration Number |
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Import / Export |
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Comment |
Unavailable |
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Employees |
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Number of Employees |
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1. Salaried employees |
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2. Waged employees |
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3. Permanent employees |
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4. Casual employees |
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5. Contracted employees |
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Comment |
Unavailable |
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 |
Unavailable |
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Offices
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Offices |
Offices |
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Head Office Owned/ Rented |
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Rental Company |
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Owned by |
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Value |
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Bond |
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Bank |
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Lease Agreement |
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Lease Expire Date |
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Type of Premises |
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Comment |
Unavailable |
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Branch Information |
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Branches Names |
Country |
Province |
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Branch Detail Information |
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Branches Owned/ Rented |
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Rental Company |
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Owned by |
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Value |
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Bond |
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Bank |
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Lease Agreement |
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Lease Expire Date |
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Type of Premises |
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Comment |
Unavailable |
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Organisation Chart
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Level |
Position |
Name |
Comment |
|
1 |
Member |
ASHLEY MAHARAJ |
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Company Structure (Ownership)
Note: One level up and all levels down
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Holding |
Company |
Sub |
Comment |
|
100%
- ASHLEY MAHARAJ |
CORDISPEX
CC |
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Key deals signed within the past 12 months
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Company |
Value |
Contact |
Comment |
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|
Unavailable |
Trade References Information - No
Information on Record
Judgements - No information on record
Business Rescue - No Information on
Record
Default Listing - No information on record
Notarial Bonds - No information on record
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Bank |
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Branch |
Unavailable |
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Brach Code |
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Bank Account Number |
Unavailable |
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Type of Account |
Unavailable |
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Account Name |
Unavailable |
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Overdraft Facilities |
Unavailable |
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Bank Code |
Unavailable |
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Bank Comment |
Unavailable |
Bank Code History
- No Information on Record
Previous Bank
Account Information - No Information on Record
Deeds Information
- No information on record
Financial Estimates
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CURRENT ASSETS |
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Stock |
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Debtors |
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FIXED ASSETS |
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Plant, Equipment, Vehicles |
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Property |
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CURRENT LIABILITIES |
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Creditors |
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Loans/ From? |
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Loan Details |
Unavailable |
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LONG TERM LIABILITIES |
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Morgage Bonds |
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Previous Year Turnover |
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Estimated Current Year Turnover |
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Current Turnover per month |
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Current Turnover per annum |
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Comment |
Unavailable |
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Please note
the following: |
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|
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 |
|
Number of Principals |
1 |
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Average Age of Active Principals |
45 |
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Number of Inactive Principals |
|
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Active Principals Active
Principal - 1 of 1 ASHLEY MAHARAJ |
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Surname |
MAHARAJ |
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First Name |
ASHLEY |
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Other Names |
|
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Marital Status |
Married |
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ID Number |
7010105094082 |
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Verified ID Number |
Yes |
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Current Age |
44 Years 3 Months |
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Designation |
Member |
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Status |
Active |
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Appointment Date |
2010/05/04 |
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Physical Address (at time of Appointment) |
UNIT 3 ROYALTON, 25 OLD BRUSH ROAD, LA LUCIA, 4001 |
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Postal Address |
P O BOX 2939, DURBAN, 4000 |
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Current Tel Number |
0315696091 |
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Cell number |
0833785568 |
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Shareholding/Membership |
100.00 |
Principal's Adverse -
No information on record
Business Information
for ASHLEY MAHARAJ
Principal Current
Business Interests
|
Company
Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
CORDISPEX CC |
B2010/059742/23 |
In Business |
5 Years 5 Months |
0 |
No |
|
|
EXQUISITE HOUSE CC |
B1987/000499/23 |
Deregistration
Final |
28 Years 4 Months |
0 |
No |
|
|
GOLDSACK
INVESTMENTS CC |
B2005/026260/23 |
Deregistration
Final |
10 Years 10 Months |
0 |
No |
|
|
TREZINIX CC |
B2010/111903/23 |
In Business |
5 Years 5 Months |
0 |
No |
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Principal Previous
Business Interests
Average Age of
Previous Business 28
years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
EXQUISITE INDENTS (PTY)LTD |
M1992/005305/07 |
In Business |
23
Years 11 Months |
2 |
No |
|
|
SUB
146 SPRINGFIELD PARK (PTY)LTD |
M1990/002260/07 |
In Business |
25
Years 1 Months |
0 |
No |
|
|
TWO NINE SIX SYDNEY ROAD SHARE BLOCK (PTY)LTD |
M1978/001750/07 |
In Business |
37 Years 1 Months |
0 |
No |
|
Principal Deeds
Information
Property Interests
for ASHLEY MAHARAJ
|
Title Deed No. |
ST4228/2006 |
Erf/Site No. |
2890,0 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
25 OLD BUSH LA LUCIA UMHLANGA |
|
Property Type |
U |
Extent / Size |
|
|
Purchase Date |
2005/11/27 |
Purchase price |
R 3068400.00 |
|
% Ownership |
0.00 |
Bond Holder |
STANDARD BANK OF SOUTH AFRICA L |
|
Bond Number |
SB55372006 |
Bond Amount |
R 3068400.00 |
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Comment |
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.94.01 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
DPT |
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.