|
Report No. : |
342759 |
|
Report Date : |
03.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
AIMESSA INVESTMENTS CC |
|
|
|
|
Registered Office : |
302 Brickfield Road, Overport, Durban Kwazulu-Natal |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
21.08.2001 |
|
|
|
|
Com. Reg. No.: |
2001/059241/23 |
|
|
|
|
Legal Form : |
Closed Corporation |
|
|
|
|
Line of Business : |
Importers and Distributors of Spices, Incense Sticks, Pots. |
|
|
|
|
No. of Employees : |
50 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
South Africa |
A1 |
A1 |
|
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 |
AIMESSA
INVESTMENTS CC
ABBA
MOOSA WHOLESALERS
PHYSICAL ADDRESS:
Overport
POSTAL ADDRESS:
Overport
TELEPHONE NUMBER: +27 31
209 1125
FAX NUMBER: +27 31 209 1328
15% MS Z B
A S ESSA ID No. 4806220139089
15% M ESSA
(son) ID No. 8707055114054
15% N ESSA
(son) ID No. 7502115239087
The remaining 55% membership previously belonged to
I A M ESSA who passed away in 2007. The
estate is still in the process of being wound up, and his 55% membership will
be distributed equally amongst the remaining three members.
AIMESSA
PROPERTY TRUST
STANDARD
BANK, Overport City Branch. The
respondent declined to divulge the bank account number. It was stated that the subject has overdraft
facilities available to an extent of R3 500 000.
27
August 2001
Registration
Certificate Number: 2001/059241/23
AIMESSA
INVESTMENTS CC was established in August 2001, when the assets and operations
of an existing sole proprietorship, originally established by H A MOOSA ESSA in
1909, trading as ABBA MOOSA WHOLESALERS, and which then became I A MOOSA ESSA
T/A ABBA MOOSA WHOLESALERS were incorporated into the subject.
4630198101
9099332141
Non-compliant
Importers
and distributors of spices, incense sticks, pots etc from the Far East. It was
stated that one of the main brand names carried by the subject is MAHARANI.
The subject imports approximately 90% of its
supplies and sources supplies locally on a small scale.
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.
Retailers
and wholesalers.
South
Africa
None
50
None
The
premises are reported to be owned by the family trust, free of bond.
The
following estimated financial situation was submitted on 29 September 2015:
STOCK R18
000 000
DEBTORS R3
000 000 – R 4 000 000
CREDITORS (fluctuates
on imports) R1 000 000 –
R 2 000 000
TURNOVER per month R40 000 000 –
R 50 000 000
ISMAIL
TAYOB INCORPORATED, +27 31 309 5955
FEBRUARY
NONE
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2008 R40 000 R 10 000 30 days 30
days Excellent
c/l
2. ±10
years open acc R100 000± 30 days 30 days Good
3. 3
years open acc R
20 000± 7 days 7 days Excellent
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT
EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. +20 years Open -R300 000 30 days 30 days Good
2. 4 years R40
000 See below 30 days 30
days Very Good
The
subject only makes approximately 3 bulk purchases per year of approximately
R25 000 to R50 000 per order, but pay timeously.
3. Aug 2008 R6
000 R1 300- 30 days 30 days Very Good
R1 920
4. Against company policy to divulge trade
reference information.
(These descriptions relate respectively by number to
the above current trade transactions):
1. Legumes
and lentils
2. Salt
3. Tracking
and fleet solutions
This is a
well-established business which incorporated the assets and operations of a Sole
Proprietorship originally established in 1909. The subject imports most of its
supplies, however, is meeting its local commitments timeously and is spoken of
highly by its suppliers. The lack of
full financial information should be borne in mind.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.55 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
Report Prepared
by : |
NIT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.