MIRA INFORM REPORT

Report No. :	515921
Report Date :	23.06.2018

IDENTIFICATION DETAILS

Name :	PREMIER HOUSEWARES CC
Registered Office :	18, Mopedi Road, Sebenza Edenglen,
Country :	South Africa
Date of Incorporation :	07.02.1995
Com. Reg. No.:	1995/004149/23
Legal Form :	Close Corporation
Line of Business :	The subject is involved in the importing and wholesale of general household products, such as: plasticware, brushes, scourers, kitchen cleaning and bathroom textiles.
No. of Employees :	50

RATING & COMMENTS

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

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
Payment Behaviour :	No Complaints
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 (31.12.2017)	Current Rating (01.04.2018)
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 but has been plagued with accusations of mismanagement and corruption and faces an increasingly high debt burden.

South Africa's economic policy has focused on controlling inflation while empowering a broader economic base; 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; in late 2016, most major international credit ratings agencies downgraded South Africa’s international debt to junk bond status.

Source : CIA

Executive Summary

Executive Summary

The subject is very well established. No judgments recorded against the subject. Accounts are paid on due date. The subject has an excellent reputation. The subject is considered equal to its normal business engagements. The lack of financial information should be borne in mind.

COMPANY INFORMATION

OVERVIEW

HISTORY

PREMIER HOUSEWARES CC was registered in February 1995, and operations commenced immediately. According to the subject's website it was established in 1990, however, this could not be confirmed.

STATUTORY INFORMATION

Registered Name	PREMIER HOUSEWARES
Registration Number	1995/004149/23
Type Of Company	Close Corporation
Registered Date	07/02/1995
Date Commenced Trading	07/02/1995
Commercial Status	In Business
Financial Year End	February

CONTACT DETAILS

Contact Number	+27 11 609 6536
Email Address	Jeni@premierhousewares.co.za
Fax Number	+27 11 609 6215
Website	www.premierhousewares.co.za
Social Media Presence	Facebook; Google+
Registered Physical Address	18 Mopedi Road Sebenza Edenglen Gauteng South Africa 1610
Trading Physical Address	16 Mopedi Road Sebenza Edenvale Gauteng South Africa 1609
Postal Address	P O Box 10324 Edenglen Johannesburg Gauteng South Africa 1613

TAX INFORMATION

TAX INFORMATION

Income Tax Number

9483581840

VAT INFORMATION

VAT Status	The subject is registered for VAT (VAT number/s made available)
VAT Number	4320149430
Status	Active
Registered Name	PREMIER HOUSEWARES CC

OFFICERS AND PROFESSIONAL SERVICES

LIST OF OFFICERS AND PROFESSIONAL SERVICES

Type	Name	Contact Name	Contact Number
Auditor	Haralambous And Associates		+27112640487

OWNERSHIP STRUCTURE

SHAREHOLDING INFORMATION

CURRENT

Shareholder/Member Name	Share/Interest	Type	Comment
Harold Leon Kahn	100%	Member

PRINCIPAL INFORMATION

Director / Member

Full Name	ID No.	Type	Status	DOA	Active Interests	Previous Interests	Judgments	Fraud Listing
Harold Leon Kahn	5607285053085	Member	Active	30/05/1995	0	0	0	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.

BANK ACCOUNT INFORMATION

BANK ACCOUNT CLIENT REQUESTED DETAILS

Account Reference	Account Holder Number	Account Number	Bank Name	Branch Name	Branch Code	Verification Status
PREMIER HOUSEWARES CC	ABB131383	220125783	Standard Bank (South Africa)	Edenvale	051001	Verified by Bank Code

OPERATIONAL ACTIVITIES

Operational Activities Status	The following information was provided
Industry	Wholesale
Major Industry SIC Code	464 - Wholesale of household goods
NACE Code	46,4 - Wholesale of household goods

MAJOR OPERATION

Major Business Activities	The subject is involved in the importing and wholesale of general household products, such as: plasticware, brushes, scourers, kitchen cleaning and bathroom textiles.
Foreign Trade Activities	International
Agencies Held	Subject holds no agencies.
Franchises Held	The subject holds no franchises.
Major Suppliers	Subject declined to provide information.
Major Customers	The General Public
Major Brands	Premier
Major Contracts	Subject does not operate on a contract basis.

IMPORT ACTIVITIES

Subject Imports

Imports From	To the value of
· India · China

EXPORT ACTIVITIES

Subject Exports

Exports To	To the value of
· Botswana · Namibia · Africa

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
Edenvale	Office Warehouse	--	50	Leased	N/A

EMPLOYEES

Permanent Employees	50
Salaried Employees	50

COMPANY FLEET

Total Vehicles

3

The fleet is made up of:

Light Delivery Vehicles

3

Owned

FINANCING TERMS

FINANCING TERMS

Sales Terms	Cash
Overdraft Facility	The Subject has an overdraft facility.
Overdraft	500,000 ZAR
Overdraft Usage	Seldom
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 were declined.

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
TR180619162	19/06/2018	Neutral	30 Days (30 Days)	Open Account (2,000,000) (ZAR)	1998	50%	50%	No	This is a good account.
TR180619160	19/06/2018	Neutral	30 Days (30 Days)	2,000,000 (300,000) (ZAR)	2011	75%	50%	No	This is a good account.
TR180619158	19/06/2018	Neutral	30 Days (30 Days)	300,000 (Confidential)	1998	50%		Yes	This is a good account.
LTR16111171	11/11/2016	Positive	30 Days (30 Days)	Confidential (300,000) (ZAR)	2001		100%		This is an excellent

TRADE REFERENCE ANALYTICS

Number of valid Trade References	7
Overall Trade Score	64%
Average Usage of Terms	100%
Average Monthly Purchase	645,833 ZAR
Average Usage of Credit Limit	39%

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 67.77
UK Pound	1	INR 89.96
Euro	1	INR 78.86
ZAR	1	INR 5.05

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

INFORMATION DETAILS

Analysis Done by :	NIY
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.