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MIRA INFORM REPORT
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Report No. : |
502189 |
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Report Date : |
14.04.2018 |
IDENTIFICATION DETAILS
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Name : |
EURO DIY CC |
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Formerly Known As : |
ZHO INVESTMENTS |
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Registered Office : |
32
Ebony Field Avenue Springfield Park Durban Kwa-Zulu Natal 4051 |
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Country : |
South Africa |
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Date of Incorporation : |
25.03.2008 |
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Com. Reg. No.: |
2008/063983/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
The subject is involved in the importing
and wholesale of door mechanisms and locking systems. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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.
Economic growth has decelerated in recent years, slowing to an estimated 0.7% in 2017. Unemployment, poverty, and inequality - among the highest in the world - remain a challenge. Official unemployment is roughly 27% of the workforce, and runs significantly higher among black youth. 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. 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 but has been plagued with accusations of mismanagement and corruption and faces an increasingly high debt burden.
South Africa's economic policy has focused on controlling inflation
while empowering a broader economic base; 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 government faces growing pressure from urban constituencies to
improve the delivery of basic services to low-income areas, to increase job
growth, and to provide university level-education at affordable prices.
Political infighting among South Africa’s ruling party and the volatility of
the rand risks economic growth. International investors are concerned about the
country’s long-term economic stability; in late 2016, most major international
credit ratings agencies downgraded South Africa’s international debt to junk
bond status.
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Source
: CIA |
Executive
Summary
The subject is well established. No judgments recorded against the subject. A comprehensive trade survey could not be obtained. The subject has an excellent reputation. The lack of financial information should be borne in mind.
COMPANY INFORMATION
OVERVIEW
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History |
EURO
DIY CC was registered in March 2008 when the details of a shelf entity styled
ZHO INVESTMENTS CC was utilised for registration purposes. The subject
underwent a name change in October 2014 to the current name. |
STATUTORY
INFORMATION
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Registered
Name |
EURO
DIY CC |
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Previous
Names |
ZHO
INVESTMENTS (10/10/2014) |
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Registration
Number |
2008/063983/23 |
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Type
Of Company |
Close
Corporation |
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Registered
Date |
25/03/2008 |
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Date
Commenced Trading |
25/03/2008 |
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Commercial
Status |
In
Business |
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Financial
Year End |
February |
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CONTACT DETAILS
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Contact
Number |
+27
31 579 3105 |
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Email
Address |
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Fax
Number |
+27
31 579 3106 |
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Website |
The
subject does not have a website. |
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Social
Media Presence |
Facebook;
LinkedIn |
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Registered
Physical Address |
32
EBONY FIELD AVENUE SPRINGFIELD PARK DURBAN KWA-ZULU
NATAL South
Africa 4051 |
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Trading
Physical Address |
32
Ebony Field Avenue Springfield
Park DURBAN
Kwa-Zulu Natal South
Africa 4051 |
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Postal
Address |
32
Ebony Field Avenue SPRINGFIELD PARK Kwa-Zulu Natal South
Africa 4051 |
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GENERAL
COMMENTS
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Comments |
The
subject declined to provide any information without details of the enquirer
and requires the policy holder to contact them directly. Any information
contained in this report was obtained from outside sources and public
information and is thus unconfirmed by the subject. |
TAX INFORMATION
TAX
INFORMATION
Income
Tax Number 9438471162
VAT
INFORMATION
VAT
Status The subject is registered for
VAT (VAT number/s made available)
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VAT
Number |
4720246422 |
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Status |
Active |
OFFICERS AND
PROFESSIONAL SERVICES
LIST OF
OFFICERS AND PROFESSIONAL SERVICES
|
Type |
Name |
Contact
Name |
Contact
Number |
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Auditor |
MOOLLA
AHMED ABDOOL KHALIK |
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OWNERSHIP STRUCTURE
SHAREHOLDING
INFORMATION
CURRENT
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Shareholder/Member
Name |
Share/Interest |
Type |
Comment |
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HAMZA
OMARJEE |
50.00% |
Member |
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MOHAMED
ZAKIR OMARJEE |
50.00% |
Member |
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PRINCIPAL INFORMATION
Director
/ Member
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Full
Name |
ID
No. |
Type |
Status |
DOA |
Active
Interests |
Previous
Interests |
Judgments |
Fraud
Listing |
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HAMZA
OMARJEE |
8302235309087 |
Member |
Active |
25/03/2008 |
0 |
0 |
0 |
0 |
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MOHAMED ZAKIR OMARJEE |
8406105225081 |
Member |
Active |
25/03/2008 |
0 |
0 |
0 |
0 |
Management
No principals found for this principal type.
Officer
No principals found for this principal type.
Other
No principals found for this principal type.
BANK ACCOUNT
INFORMATION
BANK
ACCOUNTS
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Account
Reference Number |
Account
Holder |
Account
Number |
Bank
Name |
Branch
Name |
Branch
Code |
Verification
Status |
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ABB131117 |
EURO
DIY CC |
202010740 |
Standard
Bank (South Africa) |
051001 |
051001 |
Unverified |
OPERATIONAL
ACTIVITIES
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Operational
Activities Status |
The
subject declined to provide the information |
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Industry |
Importing
& wholesale |
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Major
Industry SIC Code |
46630
- Wholesale of hardware and locks |
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Secondary
Industry SIC Code(s) |
Other
business support service activities n.e.c. |
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NACE
Code |
46,74
- Wholesale of hardware, plumbing and heating equipment and supplies |
MAJOR OPERATION
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Major
Business Activities |
The
subject is involved in the importing and wholesale of door mechanisms and
locking systems. |
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Foreign
Trade Activities |
National |
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Major
Suppliers |
• NMLDSM • GRIBBON TRADING • ALBARAKA BANK • BABA HARIB |
GENERAL
COMMENTS
General
Comments The subject declined to
provide the information.
OPERATIONAL FOOTPRINT
Operational
Footprint Status The subject declined to
provide the information
BRANCH
& PREMISES INFORMATION
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Location |
Description/Type |
Size
(m2) |
#
of Staff |
Rented
or Owned |
Lease
Expiry Date |
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SPRINGFIELD
PARK |
• Warehouse • Office |
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N/A |
GENERAL
COMMENTS
General
Comments The subject declined to
provide the information.
FINANCING TERMS
GENERAL
COMMENTS
General
Comments Financing terms were declined.
FINANCIAL FIGURES
GENERAL
COMMENTS
General
Comments Financial figures were
declined.
TRADE REFERENCES
TRADE
REFERENCES
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Trade Reference |
Date |
Trade Score |
Terms Given (Taken) in days |
Monthly Limit Given (Taken) |
Account Opened |
Payment Trend (prev.
3 years) |
Account Insured |
Notes |
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TR18041085 |
10/04/2018 |
N/A |
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Supplier
untraceable |
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TR18041081 |
10/04/2018 |
N/A |
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Company
policy not to provide trade references |
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TR18041080 |
10/04/2018 |
N/A |
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No
record of account |
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Open |
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TR18041078 |
10/04/2018 |
Neutral |
Cash
(Cash) |
Account
(45,000) (ZAR) |
2013 |
50% |
50% |
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No |
This
is a good account. Monthly purchases range between ZAR30,000 and ZAR60,000. |
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LTR161104184 |
04/11/2016 |
N/A |
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Company
policy not to provide trade references |
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LTR161104155 |
04/11/2016 |
N/A |
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Number
rings unanswered |
TRADE REFERENCE
ANALYTICS
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Number
of valid Trade References |
2 |
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Overall
Trade Score |
50% |
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Average
Usage of Terms |
0% |
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Average
Monthly Purchase |
37,500
ZAR |
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Average
Usage of Credit Limit |
0% |
GENERAL COMMENTS
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General
Comments |
Further creditor details were not made available for
trade reference purposes. |
COURT NOTICES
No judgments on file in the name of the
subject
No liquidation applications on file in the
name of the subject
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.22 |
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1 |
INR 92.77 |
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Euro |
1 |
INR 80.34 |
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ZAR |
1 |
INR 5.40 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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PRI |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.