MIRA INFORM REPORT

Report No. :	482248
Report Date :	01.01.2018

IDENTIFICATION DETAILS

Name :	COUNTRY ROAD VENTURES (INCORPORATED IN AUSTRALIA)
Registered Office :	Woolworths house 93 longmarket street cape town South africa, 8001
Country :	South Africa
Date of Incorporation :	29.06.2010
Com. Reg. No.:	2010/014092/10
Legal Form :	External Company
Line of Business :	Retail sale of clothing, footwear and leather articles in specialized stores
No. of Employees :	5,590

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Branch of foreign company
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

Country Name	Previous Rating (30.06.2017)	Current Rating (30.09.2017)
South Africa	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately 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.

Economic growth has decelerated in recent years, slowing to an estimated 0.3% in 2016. Unemployment, poverty, and inequality - among the highest in the world - remain a challenge. Official unemployment is roughly 26% 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; in late 2016 they issued a request for bids to revamp South Africa’s nuclear power generating capabilities. Load shedding and resulting rolling blackouts gripped many parts of South Africa in late 2014 and early 2015 because of electricity supply constraints due to technical problems at some generation units, unavoidable planned maintenance, and an accident at a power station.

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 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; as of December 2016, most major international credit ratings agencies placed South Africa only one level above junk bond status.

Source : CIA

Executive Summary

The subject is very well established. No judgments recorded against the subject . A comprehensive trade survey could not be obtained. No bank information supplied. The subject is part of a well financed group. The subject has an excellent reputation. Although a comprehensive trade survey could not be established, the subject is still considered an acceptable risk for your enquiry amount and terms

COMPANY INFORMATION

OVERVIEW

History COUNTRY ROAD VENTURES (INCORPORATED IN AUSTRALIA) was registered and

commenced operations in June 2010.

STATUTORY INFORMATION

Registered Name	COUNTRY ROAD VENTURES (INCORPORATED IN AUSTRALIA)
Registration Number	2010/014092/10
Type Of Company	External Company
Registered Date	29/06/2010
Date Commenced Trading	29/06/2010
Commercial Status	In Business
Financial Year End	June

CONTACT DETAILS

Contact Number	+27 21 407 9111
Email Address	marvinwright@woolworths.co.za
Fax Number	+27 21 407 3939
Website	The subject does not have a website.
Social Media Presence	The subject does not have a social media presence.
Registered Physical Address	WOOLWORTHS HOUSE 93 LONGMARKET STREET CAPE TOWN South Africa 8001
Trading Physical Address	Woolworths House; 93 Longmarket Street CAPE TOWN Western Cape South Africa 8001
Postal Address	P O Box 680 CAPE TOWN Western Cape South Africa 8000

TAX INFORMATION

TAX INFORMATION

Income Tax Number 9356008178

VAT INFORMATION

VAT Status	The subject is registered for VAT (VAT number/s made available)
VAT Number	4020256022
Status	Active
Registered Name	COUNTRY ROAD VENTURES (INCORPORATED IN AUSTRALIA)
Trading Name	COUNTRY ROAD VENTURES

OFFICERS AND PROFESSIONAL SERVICES

LIST OF OFFICERS AND PROFESSIONAL SERVICES

Type	Name	Contact Name	Contact Number
Auditor	ERNST & YOUNG INC

OWNERSHIP STRUCTURE

SHAREHOLDING INFORMATION

CURRENT

Ultimate Holding Company	Share	Type	Comment
WOOLWORTHS HOLDINGS LTD	100.00%	Ultimate Holding Company
Holding Company	Share	Type	Comment
WOOLWORTHS HOLDINGS LTD, Australasia	100.00%	Holding Company

PRINCIPAL INFORMATION

Director / Member

Full Name	ID No.	Type	Status	DOA	Active Interests	Previous Interests	Judgments	Fraud Listing
ASHLEY JOHN GARDNER	E3078535	Director	Active	04/11/2016	1	1	0	0
IAN MOIR	E3078698	Director	Active	29/06/2010	9	3	0	0
MOEGAMAT REEZA ISAACS	6811155256088	Alternate Director	Active	08/09/2014	14	7	0	0
MOEGAMAT REEZA ISAACS	6811155256088 6811155256088	Representative	Active	07/12/2016	14	7	0	0
MOEGAMAT REEZA ISAACS		Director	Active		14	7	0	0
SCOTT IAIN FYFE	513158426	Director	Active	25/01/2017	1	0	0	0
DAVID ANDREW THOMAS	L4328546	Director	Resigned	20/10/2010	0	0	0	0
HELEN JANET EAMES	N2757165	Alternate Director	Resigned	17/08/2015	0	1	0	0
HOWARD ROY GOLDBERG	E7596418	Director	Resigned	07/03/2011	0	0	0	0
IAIN WISHART NAIRN	O99166936	Director	Resigned	02/10/2012	0	0	0	0
MATTHEW STEPHEN E4059893 KEOGH		Director	Resigned	08/09/2014	0	1	0	0
NORMAN WILLIAM THOMSON	5106265076083	Representative	Resigned	29/06/2010	8	15	0	0
OLIVER KYSELA	M9778849	Director	Resigned	02/10/2012	0	1	0	0
PAULA DISBERRY	0932163960000	Director	Resigned	28/02/2012	0	0	0	0
PETRUS JACQUES DU TOIT	7706175105084	Director	Resigned	17/08/2015	1	0	0	0
SACHA LAING	PA5580637	Alternate Director	Resigned	08/09/2014	1	0	0	0
SOPHIE BALDERSTONE HOLT	L431653200000	Director	Resigned	20/10/2010	0	0	0	0

ACTIVE BUSINESS INTERESTS: ASHLEY JOHN GARDNER

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
WITCHERY FASHIONS SA	2010/015845/07	In Business	Active	Director	0

PREVIOUS BUSINESS INTERESTS: ASHLEY JOHN GARDNER

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
K FASHION GROUP	2006/015570/07	In Business	Resigned	Director	0

ACTIVE BUSINESS INTERESTS: IAN MOIR

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
WITCHERY FASHIONS SA	2010/015845/07	In Business	Active	Director	0
MARKS AND SPENCER (S A)	1957/002437/07	In Business	Active	Director	0
E-COM INVESTMENTS 16	2001/018715/07	In Business	Active	Director	0
VIRTUAL MARKET PLACE	1997/016316/07	In Business	Active	Director	0
WOOLWORTHS INTERNATIONAL SA	1993/007394/07	Deregistration Final	Active	Director	0
UNIVERSAL PRODUCT NETWORKS	1999/024569/07	In Business	Active	Director	0
WOOLWORTHS DEVELOPMENTS	1980/007481/07	In Business	Active	Director	0
WOOLWORTHS HOLDINGS	1929/001986/06	In Business	Active	Director	0
WOOLWORTHS	1956/000518/07	In Business	Active	Director	0

PREVIOUS BUSINESS INTERESTS: IAN MOIR

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
WOOLWORTHS FINANCIAL SERVICES	2000/009327/07	In Business	Resigned	Director	0
INTHEBAG	2000/000225/07	Deregistration Final	Resigned	Director	0
CONSUMER GOODS
COUNCIL OF SOUTH	1982/006710/08	In Business	Resigned	Director	0

ACTIVE BUSINESS INTERESTS: MOEGAMAT REEZA ISAACS

Company Name WITCHERY FASHIONS SA	Registration No. 2010/015845/07	Business Status In Business	Principal Status Active	Principal Type Director	Judgments 0
ACCOUNT ON US	2004/017415/07	Deregistration Final	Active	Director	0
ISENTIALS	2003/019862/07	In Business	Active	Director	0
WOOLWORTHS	1956/000518/07	In Business	Active	Director	0
E-COM INVESTMENTS 16	2001/018715/07	In Business	Active	Director	0
WOOLWORTHS FINANCIAL SERVICES	2000/009327/07	In Business	Active	Director	0
WOOLWORTHS INTERNATIONAL SA	1993/007394/07	Deregistration Final	Active	Director	0
MARKS AND SPENCER (S A)	1957/002437/07	In Business	Active	Director	0
INTHEBAG	2000/000225/07	Deregistration Final	Active	Director	0
UP-FRONT INVESTMENTS 132	2000/003242/07	Deregistration Final	Active	Director	0
WOOLWORTHS HOLDINGS	1929/001986/06	In Business	Active	Director	0
WITCHERY FASHIONS SA	2010/015845/07	In Business	Active	Alternate Director	0
NATION-WIDE RECOVERY SERVICES	1997/010435/07	In Business	Active	Director	0
THE WESTERN CAPE SOCIETY OF CHARTERED ACCOUNTANTS	1907/000835/08	AR Deregistration Process	Active	Director	0

PREVIOUS BUSINESS INTERESTS: MOEGAMAT REEZA ISAACS

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
ERNST AND YOUNG SERVICES	1955/000930/07	In Business	Resigned	Director	0
ERNST AND YOUNG	2005/002308/21	In Business	Resigned	Director	0
ERNST AND YOUNG B-BBEE VERIFICATION AGENCY	2009/020363/07	In Business	Resigned	Director	0
WOOLWORTHS DEVELOPMENTS	1980/007481/07	In Business	Resigned	Director	0
VIRTUAL MARKET PLACE	1997/016316/07	In Business	Resigned	Director	0
ACCELERATE CAPE TOWN	2006/032094/08	In Business	Resigned	Director	0
UNIVERSAL PRODUCT NETWORKS	1999/024569/07	In Business	Resigned	Director	0

ACTIVE BUSINESS INTERESTS: MOEGAMAT REEZA ISAACS

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
WITCHERY FASHIONS SA	2010/015845/07	In Business	Active	Director	0
WOOLWORTHS FINANCIAL SERVICES	2000/009327/07	In Business	Active	Director	0
E-COM INVESTMENTS 16	2001/018715/07	In Business	Active	Director	0
ACCOUNT ON US	2004/017415/07	Deregistration Final	Active	Director	0
UP-FRONT INVESTMENTS 132	2000/003242/07	Deregistration Final	Active	Director	0
NATION-WIDE RECOVERY SERVICES	1997/010435/07	In Business	Active	Director	0
WITCHERY FASHIONS SA	2010/015845/07	In Business	Active	Director	0
WOOLWORTHS HOLDINGS	1929/001986/06	In Business	Active	Director	0
ISENTIALS	2003/019862/07	In Business	Active	Director	0
WOOLWORTHS INTERNATIONAL SA	1993/007394/07	Deregistration Final	Active	Director	0
THE WESTERN CAPE SOCIETY OF CHARTERED ACCOUNTANTS	1907/000835/08	AR Deregistration Process	Active	Director	0
MARKS AND SPENCER (S A)	1957/002437/07	In Business	Active	Director	0
INTHEBAG	2000/000225/07	Deregistration Final	Active	Director	0
WOOLWORTHS	1956/000518/07	In Business	Active	Director	0

PREVIOUS BUSINESS INTERESTS: MOEGAMAT REEZA ISAACS

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
ERNST AND YOUNG B- BBEE VERIFICATION AGENCY	2009/020363/07	In Business	Resigned	Director	0
ERNST AND YOUNG SERVICES	1955/000930/07	In Business	Resigned	Director	0
VIRTUAL MARKET PLACE	1997/016316/07	In Business	Resigned	Director	0
ACCELERATE CAPE TOWN	2006/032094/08	In Business	Resigned	Director	0
UNIVERSAL PRODUCT NETWORKS	1999/024569/07	In Business	Resigned	Director	0
ERNST AND YOUNG	2005/002308/21	In Business	Resigned	Director	0
WOOLWORTHS DEVELOPMENTS	1980/007481/07	In Business	Resigned	Director	0

ACTIVE BUSINESS INTERESTS: MOEGAMAT REEZA ISAACS

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
E-COM INVESTMENTS 16	2001/018715/07	In Business	Active	Director	0
WOOLWORTHS INTERNATIONAL SA	1993/007394/07	Deregistration Final	Active	Director	0
WOOLWORTHS	1956/000518/07	In Business	Active	Director	0
WOOLWORTHS FINANCIAL SERVICES	2000/009327/07	In Business	Active	Director	0
UP-FRONT INVESTMENTS 132	2000/003242/07	Deregistration Final	Active	Director	0
THE WESTERN CAPE SOCIETY OF CHARTERED ACCOUNTANTS	1907/000835/08	AR Deregistration Process	Active	Director	0
NATION-WIDE RECOVERY SERVICES	1997/010435/07	In Business	Active	Director	0
MARKS AND SPENCER (S A)	1957/002437/07	In Business	Active	Director	0
ISENTIALS	2003/019862/07	In Business	Active	Director	0
WOOLWORTHS HOLDINGS	1929/001986/06	In Business	Active	Director	0
WITCHERY FASHIONS SA	2010/015845/07	In Business	Active	Director	0
ACCOUNT ON US	2004/017415/07	Deregistration Final	Active	Director	0
WITCHERY FASHIONS SA	2010/015845/07	In Business	Active	Alternate Director	0
INTHEBAG	2000/000225/07	Deregistration Final	Active	Director	0

PREVIOUS BUSINESS INTERESTS: MOEGAMAT REEZA ISAACS

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
WOOLWORTHS DEVELOPMENTS	1980/007481/07	In Business	Resigned	Director	0
ERNST AND YOUNG B-BBEE VERIFICATION AGENCY	2009/020363/07	In Business	Resigned	Director	0
ERNST AND YOUNG	2005/002308/21	In Business	Resigned	Director	0
ERNST AND YOUNG SERVICES	1955/000930/07	In Business	Resigned	Director	0
UNIVERSAL PRODUCT NETWORKS	1999/024569/07	In Business	Resigned	Director	0
ACCELERATE CAPE TOWN	2006/032094/08	In Business	Resigned	Director	0
VIRTUAL MARKET PLACE	1997/016316/07	In Business	Resigned	Director	0

ACTIVE BUSINESSINTERESTS: SCOTT IAIN FYFE

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
WITCHERY FASHIONS SA	2010/015845/07	In Business	Active	Director	0

Management

No principals found for this principal type.

Officer

Full Name	ID No.	Type	Status	DOA	Active Interests	Previous Interests	Judgments	Fraud Listing
MELISSA HENNESSY	N1053348	Company Secretary	Active	08/09/2014	0	0	0	0

Other

No principals found for this principal type

BANK ACCOUNT INFORMATION

GENERAL COMMENTS
General Comments	Banking details were declined.

OPERATIONAL ACTIVITIES
Operational Activities Status	The following information was provided
Industry	Retail & Importing
Major Industry SIC Code	4761 - Retail sale of clothing, footwear and leather articles in specialized stores
NACE Code	47,71 - Retail sale of clothing in specialised stores

MAJOR OPERATION

Major Business Activities	The subject is involved in the importing and retail of apparel, home ware, and related accessories from its holding company.
Foreign Trade Activities	International
Agencies Held	Subject holds no agencies.
Franchises Held	The subject holds franchises but declined to provide the information.
Major Suppliers	Subject declined to provide information.
Major Customers	WOOLWORTHS RETAIL STORES
Major Brands	• EDITION • SUPERSPORT • TRENERY • COUNTRY ROAD
Major Contracts	Subject does not operate on a contract basis.

IMPORT ACTIVITIES

Subject imports.

Imports From	To the value of
Australasia

GENERAL COMMENTS

General Comments

It was advised that the subject imports all of its supplies from the holding. Further information was declined.

OPERATIONAL FOOTPRINT

Operational Footprint Status

The following information was provided

BRANCH & PREMISES INFORMATION

Location	Description/Type	Size (m2 )	# of Staff	Rented or Owned	Lease Expiry Date
CAPE TOWN	· Warehouse · Office

EMPLOYEES

Permanent Employees

5,590

GENERAL COMMENTS

General Comments

Company fleet information was not forthcoming.

FINANCING TERMS

GENERAL COMMENTS

General Comments

Financing terms were declined.



FINANCIAL FIGURES

GENERAL COMMENTS

General Comments

Please see attached consolidated financial statements for the financial year ending June 2017.



TRADE REFERENCES

GENERAL COMMENTS

GENERAL COMMENTS

No creditor details were made available for trade reference purposes as it was stated that the subject only imports from the holding company.

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

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.93
UK Pound	1	INR 86.06
Euro	1	INR 76.39
ZAR	1	INR 5.16

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	NIY
Report Prepared by :	KET

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
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)

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.