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Report No. : |
313276 |
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Report Date : |
26.03.2015 |
IDENTIFICATION DETAILS
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Name : |
F E POWDER SUPPLIES
(PTY) LTD |
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Formerly Known As : |
SCOPEFULL 31 (PTY) LTD |
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Registered Office : |
No 7 Volt Lane, Kya Sand, Randburg, Johannesburg, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
18.07.2000 |
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Com. Reg. No.: |
2000/016071/07 |
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Legal Form : |
Private Company |
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Line of Business : |
subject operates as suppliers of Metal Spray Equipment, Consumables and Iron Powders Subject product ranges includes:- Iron Powders ·
Powder
Metallurgy ·
Welding ·
Friction ·
SMC ·
Chemical
Metallurgical ·
Surface
Coating Thermal Spraying ·
Corrosion ·
Abrasion ·
Friction ·
Hard
Facing |
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No of Employees : |
04, having
increased from 3 reported in November 2006 |
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 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 |
Note:
(The information contained in this report, other than statutory data and comment by outside authorities, has been voluntarily supplied by Officials of the subject):
F E POWDER SUPPLIES (PTY)
LTD
Formerly: SCOPEFULL 31 (PTY) LTD, the name having been changed in July 2003.
No 7 Volt Lane
Kya Sand
Randburg
Johannesburg
Gauteng
P O Box 242
Kya Sand
2163
TELEPHONE NUMBER: +27 11 708 7951
FAX NUMBER: +27
11 708 7983
It was stated that the subject moved its premises from Unit No 8, APD Industrial Park, Kya Sand, Randburg, 2 years ago.
· 50% R G McCULLOUGH
· 50% MRS N A McCULLOUGH
None
· R G McCULLOUGH ID No. 6403080028087
· MRS N A McCULLOUGH ID No. 5002095166105
STANDARD BANK, Randburg, Account Number: 420308083. It was stated that the subject enjoys overdraft facilities, secured by the personal guarantees of the shareholders. Utilisation of the overdraft is stated to be partial.
18 July 2000
Registration Certificate Number: 2000/016071/07
F E POWDER SUPPLIES (PTY) LTD was established in 2003, when the shelf company, namely SCOPEFULL 31 (PTY) LTD was utilised for registration purposes and changed its name to the current name.
4110189364
9447116147
In the process of
BBBEE audit
The subject operates as suppliers of metal spray equipment, consumables and iron powders.
Product details
Iron Powders
·
Powder
Metallurgy
·
Welding
·
Friction
·
SMC
·
Chemical
Metallurgical
·
Surface
Coating
Thermal Spraying
·
Corrosion
·
Abrasion
·
Friction
· Hard Facing
The subject imports supplies from USA and also deals with small local 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.
The subject deals with companies such as Afrox, GKM Sintermetals, OESA and Highveld Steel.
Southern Africa
Zambia, Mozambique and Zimbabwe.
4, having increased from 3 reported in November 2006.
None
Leased
Full financial information was not forthcoming from respondents at the subject and outside authorities were unable to assist in this regard, however, historical information dated November 2006 reads as follows:
STOCK R 1 200 000
DEBTORS R 1 300 000
FIXED ASSETS R 50 000
CREDITORS R 1 000 000
OVERDRAFT R 180 000
LOANS R 320 000
TURNOVER per month R 700 000
NICO V D SMIT
DECEMBER
MALLIC INSURANCE BROKERS
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. ±4
yrs R200 000 ±R140 000 30 days 30 days Very good
2. ±4
yrs R20 000 R20 000 30 days 30 days Very good
2.5%
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 5
months R60 000 R34 000 30 days 30 days Very good
2. 10
yrs R200 000 R120 000 30 days 30 days Excellent
3. 3 yrs R30 000 R20 000 30 days 30 days Good
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Do
not give trade references
2. 6
years Open R50 000- 30 days 30 days Very Good
R300 000
3. Do
not give trade references
(These descriptions relate respectively by number to the above current
trade transactions):
2. Zinc
This is a well-established company meeting local commitments timeously. Suppliers speak highly of the subject as they have dealt with the owner in his personal capacity for a few years. The subject is considered equal to its normal business engagements. Caution is advised.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.34 |
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UK Pound |
1 |
Rs.92.65 |
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Euro |
1 |
Rs.68.12 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
MNL |
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 |
-- |
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.