MIRA INFORM REPORT

 

 

 

 

Report No. :

323923.2

Report Date :

16.06.20152

 

IDENTIFICATION DETAILS

 

Name :

J C S TRADING CC

 

 

Formerly Known As :

STOCK 41 INVESTMENTS CC

 

 

Registered Office :

P O Box 2224,  New Germany, Durban, Kwazulu-Natal

 

 

Country :

South Africa

 

 

Date of Incorporation :

27.09.1994

 

 

Com. Reg. No.:

1994/031257/23

 

 

Legal Form :

Close Corporation

 

 

Line of Business :

Subject is sources and distributes plastic components, such as plastic buckles, wheels amongst various other hard plastic products

 

 

No. of Employee :

10

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

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 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.

 

Source : CIA

 

COMPANY NAME

 

J C S TRADING CC

 

Formerly: STOCK 41 INVESTMENTS CC, the name having been changed on 27 September 1994.

 

PHYSICAL ADDRESS

 

P O Box 2224

 NEW GERMANY

Durban

KwaZulu-Natal

 

 

POSTAL ADDRESS

 

P O Box 2224

NEW GERMANY

Durban

KwaZulu-Natal

 

 

TELEPHONE NUMBER

 

+27 31 701 3874 / 5

 

 

FAX NUMBER

 

+27 31 701 3878

 

 

MEMBERS

 

100%    J C SCHOOMBIE          ID No.   5704235055003

 

It was stated that the member is also a member in the following company:

D M & S DISTRIBUTORS CC T/A MA MARKETING

Registration Certificate Number 2008/157398/23

 

 

BANKERS

 

STANDARD BANK, Glenwood Branch.  Account Number 251724719.  It was stated that the subject does not require overdraft facilities as credit balances are maintained at the bank.

 

 

DATE REGISTERED

 

27 September 1994

Registration Certificate Number:  1994/031257/23

 

J C S TRADING CC was established as a new company in September 1994 utilising the details of a shelf company styled, STOCK 41 INVESTMENTS CC, for registration purposes and the name was changed to the current name. 

 

Further historical information was not forthcoming, as specifics are unknown.

 

 

VAT NUMBER

 

4700147590

 

 

TAX NUMBER

 

9135428200

 

 

BBBEE STATUS

 

Level 3 contributor

 

 

MAJOR OPERATION

 

J C S TRADING CC sources and distributes plastic components, such as plastic buckles, wheels amongst various other hard plastic products.

 

 

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

           

Wholesale distributors, such as suppliers into Game.  The subject also supplies to luggage manufacturers.

 

 

AREA OF DISTRIBUTION AND SELLING

 

South Africa

 

 

EXPORTS

 

It was stated that the subject is in the process of extending distribution over the border.

 

 

TOTAL EMPLOYEES

 

10

 

 

OTHER PREMISES

 

None

 

 

OWNED OR LEASED

 

The premises are reported to be leased from one of its suppliers, CAD PLASTICS.

 

 

FINANCIALS

 

The following estimated financial situation was submitted as at 10 June 2015:

 

STOCK                                                                                                         R   216 397

DEBTORS                                                                                                    R   642 745

FIXED ASSETS                                                                                            R1 070 338

CREDITORS                                                                                                 R   477 457

LONG TERM LIABILITIES                                                                               R   676 603

TURNOVER per annum                                                                                  R   982 726

 

 

AUDITORS

 

LIEBENBERG FRASER HOPLEY

 

 

FINANCIAL YEAR END

 

 

FEBRUARY

 

 

INSURANCE BROKERS

 

BAY UNION INSURANCE BROKERS

 

 

CURRENT TRADE REFERENCES:

 

      ACCOUNT    HIGHEST      AVERAGE      TERMS     PAYMENT   EXPERIENCE

      OPENED      CREDIT         CREDIT                          PATTERN

 

1.    Before 2000  Open             R5 000            30 days     30 days       Very Good                       

2.    15 years       R100 000       R50 000          30 days     30 days       Very Good

 

3.    Old account  R30 000         R8 000            30 days     30 days       Good

 

 

NATURE OF GOODS OR SERVICES SUPPLIED

 

(These descriptions relate respectively by number to the above current trade transactions):

 

1.    Courier services                

                         

2.    Various plastic components                    

 

3.    Logistics company           

 

 

COMMENTS

 

This is a well-established moderately sized business which is meeting its small to moderate commitments timeously.  The subjects’ turnover is considerably low in relation to their current purchases. In view of this, we are unable to recommend a maximum and would recommend that dealings be on a letter of credit basis or cash in advance. Monitor the account until a payment trend has been established. The account may be reviewed after 6 months.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.09

UK Pound

1

Rs.99.57

Euro

1

Rs.71.84

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.