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MIRA INFORM REPORT
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Report No. : |
485068 |
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Report Date : |
16.01.2018 |
IDENTIFICATION DETAILS
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Name : |
LEELA'S SARRIE CENTRE CC |
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Registered Office : |
10 Pelican Avenue Lenasia, South Africa 1820 |
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Country : |
South Africa |
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Date of Incorporation : |
18.10.1991 |
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Com. Reg. No.: |
1991/027946/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
Retail Sale of Clothing, Footwear and Leather Articles in Specialized
Stores |
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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 : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 (30.06.2017) |
Current Rating (30.09.2017) |
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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
0.3% 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.
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Source
: CIA |
Company
information
Overview
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History |
LEELA'S SARRIE CENTRE CC was registered in October 1991 and operations commenced immediately. |
STATUTORY INFORMATION
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Registered Name |
LEELA'S SARRIE CENTRE |
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Registration Number |
1991/027946/23 |
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Type Of Company |
Close Corporation |
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Registered Date |
18/10/1991 |
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Date Commenced Trading |
18/10/1991 |
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Commercial Status |
In Business |
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Financial Year End |
February |
CONTACT DETAILS
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Contact Number |
+27 11 852 4561 |
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Email Address |
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Fax Number |
+27 11 852 5798 |
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Website |
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Social Media Presence |
Facebook; LinkedIn; Instagram |
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Registered Physical Address |
10 Pelican Avenue Lenasia South Africa 1820 |
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Trading Physical Address |
10 Pelican Avenue Lenasia Extension 1 Johannesburg Gauteng South Africa 1820 |
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Postal Address |
P O Box 42908 FORDSBURG Gauteng South Africa 2033 |
GENERAL COMMENTS
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Comments |
The subject was reluctant in assisting us telephonically
with the required information and requested an emailed questionnaire be forwarded to the accounting officers. This
was duly sent. Further
contact was made with the accounting officer, who confirmed receipt, however, stated that the
completed questionnaire would only be
returned at a later date due to extreme current workload. Any
information contained in this report
was obtained from
outside sources and
public information and is thus unconfirmed by the subject. |
Tax
information
Income Tax Number 9351250841
Vat
information
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Vat Status |
The subject is registered for VAT (VAT number/s made available) |
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VAT Number |
4470132277 |
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Status |
Active |
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Registered Name |
LEELA'S SARRIE CENTRE CC |
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Trading Name |
LEELAS SARRIE CENTRE CC |
OFFICERS
AND PROFESSIONAL SERVICES
LIST OF OFFICERS AND PROFESSIONAL SERVICES
|
Type |
Name |
Contact Number |
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Auditor |
DK MOTIRAM ACCOUNTING OFFICERS |
+27118391993 |
OWNERSHIP
STRUCTURE
SHAREHOLDING INFORMATION
CURRENT
|
Shareholder/Member Name |
Share/Interest |
Type |
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BIPINCHANDRA AMBELAL DESAI |
100.00% |
Member |
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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BIPINCHANDRA AMBELAL DESAI |
4807035063084 |
Member |
Active |
09/09/2014 |
1 |
0 |
1 |
0 |
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JAGDISH AMBELAL DESAI |
5604065151080 |
Member |
Resigned |
09/09/2014 |
1 |
1 |
0 |
0 |
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KISHORECHANDRA AMBELAL DESAI |
5306135641088 |
Member |
Resigned |
09/09/2014 |
0 |
0 |
0 |
0 |
ACTIVE BUSINESS INTERESTS: BIPINCHANDRA AMBELAL DESAI
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Company Name |
Registration No. |
Business Status |
Principal Status |
Principal Type |
Judgments |
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PSM INVESTMENTS |
2003/104682/23 |
In Business |
Active |
Member |
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.
GENERAL COMMENTS
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General Comments |
Judgement recorded against the principal
BIPINCHANDRA AMBELAL DESAI. |
OPERATIONAL
ACTIVITIES
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Operational Activities
Status |
The subject declined to provide the information |
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Industry |
Retail |
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Major Industry SIC Code |
4761 - Retail sale of clothing, footwear and leather articles in
specialized stores |
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NACE Code |
47,71 - Retail sale of clothing in specialized stores |
MAJOR OPERATION
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Major Business
Activities |
The subject is involved in the import and retail of eastern attire
including bridal wear. |
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Foreign Trade
Activities |
International |
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Agencies Held |
Subject holds no agencies. |
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Franchises Held |
The subject holds no franchises. |
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Major Brands |
Subject does not have any brands. |
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Major Contracts |
Subject does not operate on a contract basis. |
GENERAL
COMMENTS
General
Comments Full operational information
was not made available.
Operational
footprint
Operational
Footprint Status The following information
was provided
BRANCH
& PREMISES INFORMATION
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Location |
Description/Type |
Lease Expiry Date |
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LENASIA |
·
Office ·
Retail Outlet |
N/A |
GENERAL
COMMENTS
General
Comments Fleet and employee information was not made
available.
TRADE
REFERENCES
GENERAL COMMENTS
General
Comments No creditor details were 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 63.41 |
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1 |
INR 87.17 |
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Euro |
1 |
INR 77.45 |
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ZAR |
1 |
INR 5.17 |
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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NIY |
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Report Prepared
by : |
TPT |
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.