MIRA INFORM REPORT

Report No. :	482713
Report Date :	10.01.2018

IDENTIFICATION DETAILS

Name :	SALVIT GENERAL TRADING (PTY) LTD
Registered Office :	42 Third Avenue Westdene, Johannesburg Gauteng 0001
Country :	South Africa
Financials (as on) :	2017
Date of Incorporation :	26.07.2016
Com. Reg. No.:	2016/313551/07
Legal Form :	Private Company
Line of Business :	· Other building and industrial cleaning activities · The subject is involved in housing estate cleaning, renovation and maintenance.
No. of Employees :	8

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 :	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

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 recently established. No judgments recorded against the subject. Subject makes cash purchases only. In view of the lack of a comprehensive trade survey and audited financial statements, we are unable to suggest any unsecured credit dealings.

COMPANY INFORMATION

OVERVIEW

History

SALVIT GENERAL TRADING (PTY) LTD was registered commenced trading 26th July, 2016.

STATUTORY INFORMATION

Registered Name	SALVIT GENERAL TRADING
Trading As	SALVIT GENERAL TRADING
Registration Number	2016/313551/07
Type Of Company	Private Company
Registered Date	26/07/2016
Date Commenced Trading	26/07/2016
Commercial Status	In Business
Financial Year End	February

CONTACT DETAILS

Contact Number	+27 61 312 2986
Email Address	globe.trade77@gmail.com
Website	The subject does not have a website
Social Media Presence	The subject does not have a social media presence.
Registered Physical Address	42 THIRD AVENUE WESTDENE JOHANNESBURG GAUTENG South Africa 0001
Trading Physical Address	42 Third Avenue Westdene JOHANNESBURG Gauteng South Africa 0001
Postal Address	42 Third Avenue Westdene JOHANNESBURG Gauteng South Africa 0001

TAX INFORMATION

TAX INFORMATION

Income Tax Number

9218445432

VAT INFORMATION

VAT Status

Not VAT registered

OFFICERS AND PROFESSIONAL SERVICES

GENERAL COMMENTS

Comments

Auditor not yet appointed.

OWNERSHIP STRUCTURE

SHAREHOLDING INFORMATION

CURRENT

Shareholder/ Member Name	Share/Interest	Type	Comment
LORRAINE SEGOTSO MAKAMANE	100.00%

PRINCIPAL INFORMATION

DIRECTOR / MEMBER

Full Name	ID No.	Type	Status	DOA	Active Interests	Previous Interests	Judgments	Fraud Listing
LORRAINE SEGOTSO MAKAMANE	9207190888083	Director	Active	26/07/2016	0	0	0	1

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

Account Reference Number	Account Holder	Account Number	Bank Name	Branch Name	Branch Code	Verification Status
ABB157959	MISS LORRAINE S MAKAMANE	62729516990	First National Bank (South Africa)	Clearwater	251141	Unverified

OPERATIONAL ACTIVITIES

Operational Activities Status	The following information was provided
Industry	Construction
Major Industry SIC Code	81290 - Other building and industrial cleaning activities

MAJOR OPERATION

Major Business Activities	The subject is involved in housing estate cleaning, renovation and maintenance.
Foreign Trade Activities	National
Agencies Held	Subject holds no agencies.
Franchises Held	The subject holds no franchises.
Major Suppliers	Subject declined to provide information.
Major Customers	Subject declined to provide information.
Major Brands	Subject does not have any brands.
Major Contracts	350,000 ZAR

OPERATIONAL FOOTPRINT

Operational Footprint Status

The following information was provided

BRANCH & PREMISES INFORMATION

Location	Description/Type	Size (m^2)	# of Staff	Rented or Owned	Lease Expiry Date
WESTDENE	Office				N/A

EMPLOYEES

Permanent Employees	8
Salaried Employees	5
Waged Employees	3

GENERAL COMMENTS

General Comments

Details pertaining to fleet were declined.

FINANCING TERMS

FINANCING TERMS

Sales Terms	• Cash • Progress Payments • COD
Overdraft Facility	The Subject does not have an overdraft facility
Sureties	The Principals have not signed sureties.
Debtors Ceded	Debtors have not been ceded.
Debtors Factored	Debtors have not been factored.
Bonds	The Subject has no bonds.

FINANCIAL FIGURES

FINANCIAL FIGURES

Financial Year	2017
Currency	ZAR
Actual numbers, 000' or mio	Actual Numbers
Source	Completed questionnaire

INCOME STATEMENT

Turnover/Revenue	350,000
Net Profit	150,000

GENERAL COMMENTS

General Comments

Full financial information not made available

TRADE REFERENCES

GENERAL COMMENTS

General Comments

The subject has no accounts on credit, only buys cash.

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 63.47
UK Pound	1	INR 86.15
Euro	1	INR 75.92
ZAR	1	INR 5.16

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

INFORMATION DETAILS

Analysis Done by :	PRI
Report Prepared by :	NIT

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.