MIRA INFORM REPORT
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Report No. : |
331662 |
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Report Date : |
18.07.2015 |
IDENTIFICATION DETAILS
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Name : |
T JS SNACKS MANUFACTURING CC |
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Registered Office : |
9 Amanda Avenue, Lea Glen Roodepoort Gauteng, P O Box 3136, Florida1710 |
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Country : |
South Africa |
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Date of Incorporation : |
24.11.1997 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Subject is engaged in manufacturing naks and
puff chips as well as mielie pops and puffed corn. |
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No. of Employees : |
180 |
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 : |
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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 Africa’s largest and among the top 20 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. Economic growth has decelerated in recent years, slowing to just 1.5% in 2014. Unemployment, poverty, and inequality - among the highest in the world - remain a challenge. Official unemployment is roughly 25% of the work force, and runs significantly higher among black youth. Eskom, the state-run power company, is building three new power stations and is installing new power demand management programs to improve power grid reliability. Load shedding and resulting rolling blackouts gripped many parts of South Africa in late 2014 and early 2015 because of electricity supply constraints that resulted from technical problems at some generation units, unavoidable planned maintenance, and an accident at a power station in Mpumalanga province. The rolling black outs were the worst the country faced since 2008. Construction delays at two additional plants, however, mean South Africa will continue to operate on a razor thin margin; economists judge that growth cannot exceed 3% until electrical supply problems are resolved. South Africa's economic policy has focused on controlling inflation, however, the country faces structural constraints that also limit economic growth, such as skills shortages, declining global competitiveness and frequent work stoppages due to strike action. The current government faces growing pressure from urban constituencies to improve the delivery of basic services to low-income areas and to increase job growth.
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Source
: CIA |
COMPANY
NAME
T JS SNACKS MANUFACTURING CC
It was stated the company should have been registered
as TJ’S SNACKS MANUFACTURING CC.
TRADING
NAME
TJ’S SNACKS MANUFACTURING
Company
Address
PHYSICAL ADDRESS:
9 Amanda Avenue
LEA GLEN
Roodepoort
Gauteng
POSTAL ADDRESS: P O Box 3136
FLORIDA
1710
TELEPHONE NUMBER: +27 11 674 1071
FAX NUMBER: +27 11 472 5717
MEMBERS
100% ANASTASIO ALTOUNIS ID No. 62000761280
ASSOCIATE
COMPANIES
None
BANKERS
FIRST NATIONAL BANK, Industria Branch. Account Number 62000761280. It was stated that the subject has overdraft
facilities available, but further information was unknown.
DATE
REGISTERED
24 November 1997
Registration Certificate Number: 1997/062845/23
TJ’S SNACKS MANUFACTURING CC was established in
November 1997.
VAT
NUMBER
4360170312
TAX
NUMBER
9187391843
BBBEE
STATUS
Non-compliant
MAJOR
OPERATION
The subject is involved in manufacturing Naks and
Puff chips as well as Mielie Pops and Puffed Corn. The brand name utilised is TIGOS SNACKS.
MAJOR
SUPPLIERS
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.
MAJOR
CUSTOMERS OR BUSINESS SECTORS
Wholesalers, retailers and independents such as
hawkers.
AREA
OF DISTRIBUTION AND SELLING:
South Africa
EXPORTS
Neighbouring countries
TOTAL
EMPLOYEES
180
OTHER
PREMISES
The subject has a factory situated in Robertville,
Gauteng, which is reported to be owned by the subject with an outstanding bond.
OWNED
OR LEASED
The head office premises are reported to be owned
by the subject, free of bond.
FINANCIALS
Full financial information was not forthcoming
from respondents at the subject and outside authorities were unable to assist
in this regard.
It was however, suggested that an email request
for financials be forwarded to the member to respond to himself should he feel
necessary. This was duly sent. No reply has been forthcoming to date. Should
further financial information be forthcoming the same will be integrated into
the report and forwarded to our client.
AUDITORS
G CAMBANIS INCORPORATED
FINANCIAL
YEAR END
FEBRUARY
INSURANCE
BROKERS
THOR INSURANCE BROKERS
CURRENT TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Against company policy to divulge trade
reference information.
2. Against company policy to divulge trade
reference information.
3. Against
company policy to divulge trade reference information, however, confirmed that
this is a good account.
NATURE
OF GOODS OR SERVICES SUPPLIED
(These descriptions relate respectively by number
to the above current trade transactions):
1. Favouring and colorants
2. Packaging
3. Corn
COMMENTS
This is a well-established business which has three main suppliers, none
of which divulge trade reference information.
In the absence of an established payment pattern and comprehensive
financial information, we find we are unable to comment on a maximum figure.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.49 |
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UK Pound |
1 |
Rs.99.43 |
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Euro |
1 |
Rs.69.14 |
INFORMATION DETAILS
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Analysis Done by
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KAS |
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Report Prepared
by : |
TRU |
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.