MIRA INFORM REPORT

Report No. :	486334
Report Date :	23.01.2018

IDENTIFICATION DETAILS

Name :	EMET DIAMOND DEALERS PTY LTD
Registered Office :	Ground Floor, East Wing, 27 Ridge Road, Parktown Johannesburg, Gauteng, South Africa, 2193
Country :	South Africa
Date of Incorporation :	10.10.2005
Com. Reg. No.:	2005/036294/07
Legal Form :	Private Company
Line of Business :	The subject is involved in the buying and selling of polished diamonds.
No. of Employees :	3

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 0.7% 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; 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

Assessment based on trade references only. The subject is well established. No judgment against the subject. There are no principal judgments. Accounts are paid on due date. The subject is considered equal for its normal business engagements.

COMPANY INFORMATION

OVERVIEW
History	EMET DIAMOND DEALERS PTY LTD (PTY) LTD was established in March 2008 when it took over the is polished diamond operations of the holding company
STATUTORY INFORMATION
Registered Name	EMET DIAMOND DEALERS PTY LTD PTY LTD
Registration Number	2005/036294/07
Type Of Company	Private Company
Registered Date	10/10/2005
Date Commenced Trading	01/03/2008
Commercial Status	In Business
Financial Year End	December
CONTACT DETAILS
Contact Number	+27 11 643 2840
Email Address	yossie@emetdcw.co.za
Fax Number	+27 11 643 2841
Website	www.emetdaw.co.za
Social Media Presence	The subject does not have social media presence.
Registered Physical Address	GROUND FLOOR EAST WING 27 RIDGE ROAD PARKTOWN JOHANNESBURG GAUTENG South Africa 2193
Trading Physical Address	Ground Floor; East Wing; 27 Ridge Road Parktown JOHANNESBURG Gauteng South Africa 2193
Postal Address	P O Box 1066 Houghton JOHANNESBURG Gauteng South Africa 2041

GENERAL COMMENTS

Comments

The subject declined to provide any information without details of the enquirer. Please see historical information dated December 2016

TAX INFORMATION

TAX INFORMATION

Income Tax Number 9247112163

VAT INFORMATION

VAT Status	The subject is registered for VAT (VAT number/s made available)
VAT Number	4900227846
Status	Active
Registered Name	EMET DIAMOND DEALERS PTY LTD PTY LTD
Trading Name	EMET DIAMOND DEALERS PTY LTD

OFFICERS AND PROFESSIONAL SERVICES

LIST OF OFFICERS AND PROFESSIONAL SERVICES

Type	Name	Contact Name	Contact Number
Insurance	LLOYDS OF LONDON
Auditor	LUTRIN AND ASSOCIATES
Auditor	MILTON LUTRIN
Auditor	HARRIS DOWDEN AND FONTAINE

OWNERSHIP STRUCTURE

SHAREHOLDING INFORMATION

CURRENT

Shareholder/Member Name	Share/Interest	Type	Comment
EMET DIAMOND CUTTING WORKS (PTY) LTD	100.00%

PRINCIPAL INFORMATION

Director / Member

Full Name	ID No.	Type	Status	DOA	Active Interests	Previous Interests	Judgments	Fraud Listing
YOSEF ILLOS	7110205447089	Director	Active	10/10/2005	5	3	0	0
EHUD DAVID ILLOS	6803155158083	Director	Resigned	10/10/2005	0	0	0	0

ACTIVE BUSINESS INTERESTS: YOSEF ILLOS

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
VERUM IN TEMPORE	2014/208183/07	In Business	Active	Director	0
YOSSIES TRADING	2000/012745/23	Deregistration Final	Active	Member	0
PICCOLO BRILLIANTI	2017/195048/07	In Business	Active	Director	0
CAPE KOSHER	2009/118877/23	Conversion CO/CC or CC/CO	Active	Member	0
EMET DIAMOND CUTTING WORKS	1973/008018/07	In Business	Active	Director	0
PREVIOUS BUSINESS INTERESTS: YOSEF ILLOS
Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
MINT INVESTMENTS	1990/000679/07	In Business	Resigned	Director	0
GLOBAL DIAMOND TRADING	1994/032607/23	In Business	Resigned	Member	0
CAPE KOSHER	2016/111074/07	In Business	Resigned	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
HENGILCON SECRETARIAL		Secretary (Companies & CCs)	Resigned	01/10/2007	0	0	0	0
SERVICES

Other

No principals found for this principal type.

GENERAL COMMENTS

General Comments

The subject was uncooperative

BANK ACCOUNT INFORMATION

GENERAL COMMENTS

General Comments

Banking details not made available

OPERATIONAL ACTIVITIES

Operational Activities Status	No information could be obtained
Industry	Wholesale
Major Industry SIC Code	466 - Other specialised wholesale
NACE Code	46,7 - Other specialised wholesale
MAJOR OPERATION
Major Business Activities	The subject is involved in the buying and selling of polished diamonds.
Foreign Trade Activities	International
Agencies Held	Subject holds no agencies.
Major Suppliers	• EGL • GIA • BRINKS SA • RAM COURIERS
Major Customers	Subject declined to provide information.
Major Brands	Subject does not have any brands.
Major Contracts	Subject does not operate on a contract basis.

IMPORT ACTIVITIES

Subject imports.

Imports From	To the value of
• Hong Kong
• United States
• North America
• Europe

EXPORT ACTIVITIES

Subject exports

Exports To		To the value of
• Belgium • United States • India • Europe • Asia
GENERAL COMMENTS
General Comments	Full information could not be obtained.

OPERATIONAL FOOTPRINT

Operational Footprint Status

No information could be obtained

BRANCH & PREMISES INFORMATION

Location Description/Type	Size (m^2) # of Staff Rented or Owned		Lease Expiry Date
PARKTOWN Office	Leased		N/A
EMPLOYEES
Permanent Employees		3
Salaried Employees		3

COMPANY FLEET

Total Vehicles 2

The fleet is made up of: Cars / SUV's 2

GENERAL COMMENTS

General Comments

Full details were unconfirmed

FINANCING TERMS

FINANCING TERMS

Sales Terms	• 30 Days • 60 Days • 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

GENERAL COMMENTS

General Comments

Financial figures not made available.

TRADE REFERENCES

TRADE REFERENCES

Trade Reference	Date	Trade Score	Terms Given (Taken) in days	Monthly Limit Given (Taken)	Account Opened	Payment Trend (prev. 3 years)		Account Insured	Notes
TR180122204	22/01/2018	Positive	30 Days (30 Days)	Open Account (1,700,000) (ZAR)	2011	100%	100%	Yes	This is an excellent account.
TR180122203	22/01/2018	Positive	30 Days (30 Days)	Open Account (150,000) (ZAR)		100%	100%	No	This is an excellent account.

TRADE REFERENCE ANALYTICS

Number of valid Trade References	4
Overall Trade Score	100%
Average Usage of Terms	100%
Average Monthly Purchase	602,500 ZAR
Average Usage of Credit Limit	0%

GENERAL COMMENTS

General Comments

Further creditor details 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

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.89
UK Pound	1	INR 88.60
Euro	1	INR 78.12
ZAR	1	INR 5.27

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

INFORMATION DETAILS

Analysis Done by :	PRI
Report Prepared by :	SYL

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.