MIRA INFORM REPORT

 

 

Report No. :

346476

Report Date :

30.10.2015

 

IDENTIFICATION DETAILS

 

Name :

MUKADAMS GENERAL ENTERPRISES CC

 

 

Registered Office :

149 Von Tonder Street Sunderland Ridge Industrial Centurion 0157

 

 

Country :

South Africa

 

 

Date of Incorporation :

26.03.1997

 

 

Legal Form :

Close Corporation

 

 

Line of Business :

Not Available

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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

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

General comments

 

Subject declined an interview, we are therefore unable to recommend any unsecured credit dealings.

 

 

STATUTORY INFORMATION    

 

Registered Name

MUKADAMS GENERAL ENTERPRISES CC

 

Trading As

AKBERALLYS INTERNATIONAL

 

Registration Number

1997/015342/23

 

Type of Company

Close Corporation (CC)

 

Registration Date

26/03/1997

 

Commercial Status

In Business

 

 

 

CONTACT DETAILS    

 

Contact Number                  +2712 666 7434

 

Email Address

Sabir@telkomsa.net

 

Fax Number

+27 12 666 7419

 

Social Media Presence

 

Registered Physical Address

149 VON TONDER STREET

Sunderland Ridge Industrial Centurion

0157

 

 

Trading Physical Address

149 VAN TONDER STREET

Sunderland Ridge Industrial Centurion

0157

 

Postal Address

P O BOX 13685

Laudium Centurion 0037

 

 

 

 

TAX INFORMATION    

 

Income tax Number       9509023645

 

Vat Number                   450164799

 

 

AUDITORS INFORMATION

 

Name  OMAR EBRAHIM MOHIDEEN

GENERAL COMMENTS   

 

Comments

 

The spokesperson for the concern declined to divulge any company information, any information contained in this report is thus unconfirmed.

 

 

OWNERSHIP STRUCTURE

 

PRINCIPAL INFORMATION PRINCIPAL DETAILS

 

Full Name

ID No.

Designation

Status

Date of Appoint- ment

Active Interests

Prev. Interests

Judg- ments

Fraud Listing

MUKADAM, ZUBEIDA

7012120108087

Invalid Code

Active

26/03/1997

1

0

0

0

 

BANK ACCOUNT VERIFICATION         

 

OPERATIONS

 

MAJOR OPERATIONS

BRANCH INFORMATION                

PREMISES                                                                                                       

EMPLOYEES  

FINANCING TERMS                                                                                   

 

FINANCIAL FIGURES

 

 

ADMIN DETAILS

INTERVIEWER

 

Contact Tel No.

+27 10 001 0540

 

 

INTERVIEWEE

 

Contact Person            Zubeida

 

Position                         Director

 

Company Tel No.         +27 12 666 7434

 

 

 

LEGEND


FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.15

UK Pound

1

Rs.99.36

Euro

1

Rs.71.25

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TRU

 

               

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.