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MIRA INFORM REPORT
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Report No. : |
486834 |
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Report Date : |
25.01.2018 |
IDENTIFICATION DETAILS
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Name : |
CANDY WAY TRADING |
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Registered Office : |
21 Christian Avenue, Malleon Park, Epping Industrial 1, Western Cape 7460 |
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Country : |
South Africa |
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Date of Incorporation : |
20.02.2008 |
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Com. Reg. No.: |
2008/034321/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
Not Available |
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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 0.7% 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.
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Source
: CIA |
Executive
Summary
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Subject was
unresponsive; therefore we are unable to comment on the enquiry. |
COMPANY
INFORMATION
STATUTORY
INFORMATION
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Registered
Name |
CANDY
WAY TRADING |
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Registration
Number |
2008/034321/23 |
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Type
Of Company |
Close
Corporation |
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Registered
Date |
20/02/2008 |
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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
82 959 9092 |
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Email
Address |
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Website |
The
subject does not have a website. |
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Social
Media Presence |
The
subject does not have a social media presence. |
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Registered
Physical Address |
21 CHRISTIAN AVENUE MALLEON PARK EPPING INDUSTRIA 1 WESTERN
CAPE South
Africa 7460 |
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Postal
Address |
P
O Box 44691 CLAREMONT Western
Cape South
Africa 7735 |
GENERAL
COMMENTS
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Comments |
The
subject was reluctant in assisting us telephonically with the required information
and requested an emailed questionnaire. This was duly sent. However, to date
there has been no response, despite having followed up on numerous occasions.
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 9628762156
VAT
INFORMATION
VAT
Status Information not made available
OFFICERS
AND PROFESSIONAL SERVICES
LIST OF
OFFICERS AND PROFESSIONAL SERVICES
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Type |
Name |
Contact
Name |
Contact
Number |
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Auditor |
I
MAYET |
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Auditor |
IDRIS
MAYET |
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OWNERSHIP
STRUCTURE
GENERAL
COMMENTS
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General Comments |
Shareholding information
was unconfirmed. |
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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ABDUL
WAHAB KARRIEM |
7203235222083 |
Member |
Active |
20/02/2008 |
2 |
0 |
0 |
0 |
ACTIVE BUSINESS INTERESTS: ABDUL WAHAB
KARRIEM
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Company
Name |
Registration No. |
Business Status |
Principal Status |
Principal Type |
Judgments |
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DAFODIL
TRADING 50 |
2001/064314/23 |
AR Final deregistration |
Active |
Member |
0 |
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RABETTA
TRADING 30 |
2003/042292/23 |
AR Final deregistration |
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.
OPERATIONAL
ACTIVITIES
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Operational Activities
Status |
No information could be
obtained |
GENERAL COMMENTS
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General Comments |
Operational information
was unconfirmed. |
OPERATIONAL
FOOTPRINT
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Operational Footprint
Status |
No information could be
obtained |
GENERAL COMMENTS
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General Comments |
Information not made
available. |
TRADE
REFERENCES
GENERAL COMMENTS
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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 63.64 |
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1 |
INR 89.32 |
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Euro |
1 |
INR 78.45 |
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ZAR |
1 |
INR 5.35 |
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 : |
NIT |
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.