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Report No. : |
324569 |
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Report Date : |
03.06.2015 |
IDENTIFICATION DETAILS
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Name : |
B G INTERNATIONAL TRADING CC |
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Registered Office : |
Unit 1 22 Yarborough Road Shorts Retreat Pietermaritzburg
Kwazulu-Natal |
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Country : |
South Africa |
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Date of Incorporation : |
06.11.2000 |
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Com. Reg. No.: |
2000/066870/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Subject operates as
importers and suppliers of textiles and fabric. |
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No. of Employee : |
10 |
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 – 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 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. The global financial crisis reduced commodity prices and world demand, and GDP fell nearly 2% in 2009 but has recovered since then, albeit slowly, with 2014 growth less than 2%. 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, has built two new power stations and installed 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 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 those plants come on line. 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. 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 |
B G INTERNATIONAL TRADING CC
B G I
PHYSICAL ADDRESS
Unit 1
22 Yarborough Road
Shorts Retreat
PIETERMARITZBURG
KwaZulu-Natal
POSTAL ADDRESS
P O Box 28674
HAYMARKET
3201
TELEPHONE NUMBER: +27 33 386 1649
FAX NUMBER: +27 33 386 0741
CELLULAR NUMBER: +27
82 550 4917
The subject moved from 17 Nelson Close, Lincoln Meade, Pietermaritzburg
in February 2008.
50% J SRIDHAR ID
No. 6208135226184
25% M SRIDHAR (wife) ID No. 6706201194186
25% A SRIDHAR (daughter) ID No. 8703310789186
Members changed in October 2007 and was previously 50% M SRIDHAR and 50%
J SRIDHAR.
None
ABSA BANK, Longmarket Street, Pietermaritzburg Branch. Further banking information was not
forthcoming from respondents at the subject.
6 November 2000
Registration Certificate Number: 2000/066870/23
B G INTERNATIONAL TRADING
CC was registered in November 2000 and operations commenced immediately. In
2002 the subject had a name change from ETERNAL LIGHT TRADING to the current
name.
4830203610
9121172143
Level 2 contributor
The subject operates as
importers and suppliers of textiles and fabric.
The subject imports most of its supplies
and deals locally with one shipper.
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.
Fabric and clothing manufacturers
Mainly KwaZulu-Natal and also the rest of South Africa
African countries
10
None
The premises are reported to be owned.
Full financial information was not forthcoming from respondents at the company and
outside authorities were unable to assist in this respect.
N J D CONSULTING
APRIL
FIRST NATIONAL BANK
INSURANCE BROKERS
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. Few
years R650 000 R400 000 30 days 30
days Very Good
PERIOD HIGHEST AVERAGE TERMS PAYMENTPATTERN EXPERIENCE
CREDIT CREDIT
1. 3
years R2 500 000 R600 000 60 days +60days Average
c/l
(These descriptions relate respectively by number
to the above current trade transactions):
Shipper
CURRENT TRADE REFERENCES:
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. Awaiting
emailed trade reference
This is an established
business which is not a general credit seeker. We have not traced dealings to
the extent of €255 168 and would prefer to see dealings with the subject
on a secured basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.83 |
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1 |
Rs.97.10 |
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Euro |
1 |
Rs.69.74 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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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.