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Report No. : |
324772 |
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Report Date : |
04.06.2015 |
IDENTIFICATION DETAILS
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Name : |
SIMAYE IMPORT AND EXPORT (PTY) LTD |
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Registered Office : |
No 4. Rodos Complex, Swart Dr President Park, Midrand Gauteng 1682 |
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Country : |
South Africa |
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Date of Incorporation : |
29.08.2014 |
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Com. Reg. No.: |
2014/169338/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Not Available |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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
|
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.
|
Source
: CIA |
SIMAYE IMPORT AND EXPORT (PTY) LTD
+27 79 380 0674
On investigation contact was made with Mr
Henslee Govender who is the director at the company and advised us that he
currently busy and is willing to assist us with the information required at the
end of the week. An email questionnaire was forwarded to him to look in the
meantime. Contact will be made with him during the course of the week and we
will forward the report once completed.
Nevertheless, please see statutory information
obtained from CIPC below:
SIMAYE IMPORT AND EXPORT (PTY) LTD
PHYSICAL ADDRESS: No 4. Rodos Complex,
Swart Dr
President
Park
MIDRAND
Gauteng
682
POSTAL ADDRESS: P O Box 12505
Lenasia
South
JHB
Gauteng
1829
HENSLEE GOVENDER
ID No. 8112115199080
Residential Address: 43
Rodos Complex, Swart Dr President Park, Midrand, Gauteng, 1682
Postal Address: P O Box,
12505, Lenasia, Gauteng, 1829
Date Appointed:
29 August 2014
Registration Certificate Number: 2014/169338/07
4920268457
FEBRUARY
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.63.85 |
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|
1 |
Rs.98.12 |
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Euro |
1 |
Rs.71.28 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIT |
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.