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Report No. : |
319535 |
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Report Date : |
07.05.2015 |
IDENTIFICATION DETAILS
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Name : |
CAT SUPPORT SYSTEMS (PTY) LTD |
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Formerly Known As : |
ROWMOOR INVESTMENTS NO 123 (PTY) LTD |
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Registered Office : |
Units D10 and D12 Prime Park Mocke Road Diep River, 7800 Western Cape |
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Country : |
South
Africa |
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Date of Incorporation : |
05.12.1997 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturers of automotive seals which are used in the manufacturing
of catalytical converters. |
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No. of Employees : |
23 |
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
|
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 |
CAT SUPPORT SYSTEMS (PTY) LTD
Formerly ROWMOOR INVESTMENTS NO 123 (PTY) LTD, the name having been
changed on 20 April 1998.
Units D10 and D12
Prime Park
Mocke Road
DIEP RIVER
7800
Western Cape
As above
+27 21 706 8138
+27 21 706 9351
Shareholding information was declined by respondents at the subject, who
stated that two of the current directors are also shareholders, but negated to
assist with further information.
It was stated that shareholding changed and was previously 50% S M
FORBER,
25% A M FORBER and 25% E FORBER, all residing in the UK.
KNITWIRE PRODUCTS LTD - in the UK
KNITWIRE EUROPE LTD – in the UK
KNIT WIRE TRADING (PTY) LTD
(Registration Certificate Number 1996/001705/07)
CATALYTIC SUPPORT SYSTEMS LTD – in the UK
KNIT WIRE SOUTH AFRICA (PTY) LTD
(Registration Certificate 2003/017725/07)
S M FORBER D.O.B 55/06/10
T M FORBER Ppt
No. 040497810
B R PIENAAR ID
No. 6701265077088
STANDARD BANK, Blue Route branch.
It was stated that the subject does not require overdraft facilities as
credit balances are maintained at the bank.
5 December 1997
Registration Certificate Number: 1997/021132/07
CAT SUPPORT SYSTMES (PTY) LTD was established in April 1998 when a shelf
company styled ROWMOOR INVESTMENTS NO 123 (PTY) LTD was utilised for
registration purposes and changed the name to the current name.
4160173490
9522021030
Level 3 contributor
Manufacturers of automotive seals which are used in the manufacturing of
catalytical converters. Further
information was not forthcoming from respondents at the subject.
The subject imports raw materials from China, India and the UK as well
as dealing with South African 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.
Manufacturers of catalytical converters.
South Africa
Worldwide
23 permanent employees
None. The respondent stated that the heading premises comprise of
administration offices and a factory.
The premises are reported to be owned by the subject, free of bond.
Full financial information was not forthcoming from respondents at the
subject and outside authorities were unable to assist in this regard.
APPERLEY RESNIKOFF INCORPORATED
FEBRUARY
SANTAM INSURANCE BROKERS
TRADE REFERENCES – SEPTEMBER 2009:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 5 years R400 000 R100
000 - 30 days 30 days Very good
c/l R140 000
2. 2 years+ R40 000 R3 000 - 30
days 30 days Excellent
c/l R13 000
3. 5 years open confidential 30 days 30
days Excellent
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. +10
years Declined Declined 30 days 30
days Excellent
-2.5%
2. ±5
years R40 000 Up to 30 days 30 days Very Good
R17
000
3. Unable
to obtain. There appears to be a problem
with the line.
4. Against
company policy to divulge trade reference information.
NATURE OF GOODS OR SERVICES SUPPLIED:
(These descriptions relate respectively by number to the above current
trade transactions):
1. Wire products
2. Bulk boxes
This is a well-established company, meeting its commitments
timeously. The subject is highly
esteemed by its suppliers and is considered equal to a maximum figure of €45
000 over 30 days. The lack of financial
information should be borne in mind.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.64 |
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|
1 |
Rs.96.81 |
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Euro |
1 |
Rs.71.51 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
TPT |
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.