MIRA INFORM REPORT

 

 

Report No. :

339425

Report Date :

09.09.2015

 

IDENTIFICATION DETAILS

 

Name :            

ROUVIERE BRANDS

 

 

Formerly Known As :

RUEVI COSMETICS CC

 

 

Registered Office :

2 Sherbourne Village, Umhlanga Manors, Umhlanga Rocks 4319

 

 

Country :

South Africa

 

 

Date of Incorporation :

12.10.2004

 

 

Com. Reg. No.:

2004/105008/23

 

 

Legal Form :

Close Corporation

 

 

Line of Business :

Not Available

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Moderate

 

 

Payment Behaviour :

--

 

 

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 – 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 Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

B2

Moderate High Risk

 

C1

High Risk

C2

Very High Risk

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

 

Company name

 

ROUVIERE BRANDS

 

 

POSTAL ADDRESS   

 

DURBAR

SOUTH AFRICA

 

On investigation a search at CIPC revealed a company with the registered name ROUVIERE BRANDS CC, Registration Certificate Number 2004/105008/23, with the member being Vis Soodhoo, ID Number 5603235126089.  A further search for contact details for ROUVIERE BRANDS at Google provided telephone numbers +27 31 459 0771 and +27 31 811 3537, which are both answered by Segran Reddy, who, when contacted stated that the subject is a Private Company with a director being A Soodhoo, and he has no knowledge of Mr V Soodhoo.  All further information was declined.  He states that he is currently the only person in the office and management will only be available after 10 September 2015.  It was suggested that the investigator attempt to contact management at that point.

 

Should our client be in possession of further details on the subject, please advise soonest to ensure that further investigations be instituted on the correct entity.  In view of the lack of comprehensive information on the subject, however, we are unable to recommend credit dealings. 

 

In the interim, however, please see statutory information obtained from CIPC on ROUVIERE BRANDS CC below:

 

 

COMPANY NAME

 

ROUVIERE BRANDS CC

 

Formerly RUEVI COSMETICS CC, the name having been changed on 15 August 2006.

                                                

 

ADDRESSES ON CIPC

 

PHYSICAL ADDRESS:              2 SHERBOURNE VILLAGE

                                                UMHLANGA MANORS

                                                UMHLANGA ROCKS

                                                4319

           

POSTAL ADDRESS:                             P O BOX 74775

ROCHDALE PARK

4034

 

MEMBERS

 

VIS SOODHOO

ID No. 5603235126089

Residential Address 3 SANDRINGHAM COURT UMHLANGA ROCKS 4001

Postal Address: P O BOX 75775 ROCHDALE PARK

Interest Held:100%

 

 

DATE REGISTERED

 

12 October 2004

Registration Certificate Number: 2004/105008/23

 

 

VAT NUMBER    

 

4120231248

 

 

TAX NUMBER    

 

9734943146

 

 

AUDITORS        

 

P REDDY

 

                        

YEAR END    

 

FEBRUARY

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 66.60

UK Pound

1

Rs. 102.30

Euro

1

Rs. 74.60

 

INFORMATION DETAILS

 

Analysis Done by :

TRI

 

 

Report Prepared by :

DPT

 

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.