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Report No. : |
323187 |
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Report Date : |
26.05.2015 |
IDENTIFICATION DETAILS
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Name : |
KLA RICE CC |
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Registered Office : |
79, Fifth Street Springs Gauteng, P O Box 1233 Springs 1559 |
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Country : |
South Africa |
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Date of Incorporation : |
12.10.2004 |
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Com. Reg. No.: |
2004/105037/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Not Available |
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No. of Employee : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Deregistration |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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 |
KLA RICE CC
PHYSICAL ADDRESS
79, Fifth Street
SPRINGS
Gauteng
POSTAL ADDRESS
P O Box 1233
SPRINGS
1559
On investigation it was established that the
supplied physical and postal address of the subject are both for the subject’s
auditors, BRUCE MORRISON AND ASSOCIATES.
A further search to obtain contact details was undertaken using the
company’s name, however no South African listings were forthcoming. A director search was undertaken utilising
the members’ names, however, no contact details are listed for either
member.
The CIPC search revealed that the company is
in Annual Return Final Deregistration, so contact was made with the auditors to
confirm the status of the subject. The
auditor, Louise, stated that she has attempted to contact the members to
establish whether the company should be re-instated and has received no reply. She stated that the only contact detail she
is in possession of is the email address of Ashok Agrawal in India, and to the
best of her knowledge, the members are residing in India and are linked to a
company situated in India. An email
questionnaire was then forwarded to the email address supplied, ashok@klaindia.com, with an automatic
response request attached. To date,
neither an automatic nor manual receipt response has been received.
Should our client be in possession of any
further contact details, please advise soonest so that further investigations
may be instituted. Perchance further
information is received, the same will be compiled and forwarded to our client.
Nevertheless, please see statutory information
obtained from CIPC below:
COMPANY NAME
KLA RICE CC
AR Final deregistration
ADDRESSES ON CIPC
PHYSICAL ADDRESS
79
FIFTH STREET
SPRINGS
1559
POSTAL ADDRESS
P O BOX 1233
SPRINGS
1560
ASHOK
AGRAWAL
ID No.
710625
Residential Address NUMBER 33 AZAAD AVENUE AZAADVILLE 1750
Postal Address:
P O BOX 9192 AZAADVILLE
Interest Held:
50%
ARUN
AGARWAL
ID No.
651211
Residential Address
NUMBER 33 AZAAD AVENUE AZAADVILLE 1750
Postal Address:
P O BOX 9192 AZAADVILLE
Interest Held:
50%
12
October 2004
Registration Certificate Number: 2004/105037/23
4240237042
9315090168
BRUCE
MORRISON AND ASSOCIATES
February
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.62 |
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|
1 |
Rs.96.51 |
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Euro |
1 |
Rs.69.93 |
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 |
-- |
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.