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MIRA INFORM REPORT
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Report No. : |
515281 |
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Report Date : |
27.06.2018 |
IDENTIFICATION DETAILS
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Name : |
ATIT GEMS CC |
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Registered Office : |
Suite
205, 5 Sturdee Avenue, Rosebank Gauteng South Africa, 2193 |
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Country : |
South Africa |
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Date of Incorporation : |
18.10.2005 |
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Com. Reg. No.: |
2005/149674/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
Importing, exporting and trading of diamonds |
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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 : |
C |
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Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured 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 (31.12.2017) |
Current Rating (01.04.2018) |
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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 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.
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Source : CIA |
Executive
Summary
The subject was
uncooperative, therefore we are unable to comment on your enquiry.
COMPANY
INFORMATION
STATUTORY INFORMATION
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Registered
Name |
ATIT GEMS CC |
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Registration
Number |
2005/149674/23 |
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Type Of
Company |
Close
Corporation |
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Registered
Date |
18/10/2005 |
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Commercial
Status |
In
Business |
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Financial
Year End |
February |
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CONTACT DETAILS |
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Website |
The
subject does not have a website. |
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Social
Media Presence |
Facebook |
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Registered
Physical Address |
Suite
205 5
Sturdee Avenue Rosebank
Gauteng South Africa 2193 |
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Postal
Address |
Suite
205 5
Sturdee Avenue Rosebank
Gauteng South Africa
2193 |
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GENERAL COMMENTS |
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Comments |
The
respondent Ashish Shah (Member) declined to provide any information or to
update existing information as this information is deemed to be confidential.
Any information contained in this report was obtained from outside sources
and public information records and is thus unconfirmed by the subject. |
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TAX INFORMATION |
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TAX INFORMATION |
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Income
Tax Number |
9193040160 |
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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 |
4640228906 |
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Status |
Active |
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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 |
Lutrin
And Associates |
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OWNERSHIP
STRUCTURE
GENERAL COMMENTS
General
Comments
Ownership
structure was not made available.
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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Ashish Jayantilal Shah |
6103245322181 |
Member |
Active |
18/10/2005 |
0 |
0 |
0 |
0 |
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Atit Ashishbhai
Shah |
Z-2045679 |
Member |
Active |
15/11/2007 |
0 |
0 |
0 |
0 |
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Lerato
Augustine Sithole |
9208200344083 |
Member |
Active |
12/06/2012 |
0 |
0 |
0 |
0 |
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Barry
Colin Maripan |
7705165183085 |
Member |
Resigned |
30/05/2006 |
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
GENERAL COMMENTS
General
Comments
Banking details were
declined.
OPERATIONAL
ACTIVITIES
Operational
Activities Status
Importing, exporting and trading of diamonds
GENERAL COMMENTS
General
Comments
The
subject declined to provide the information.
OPERATIONAL
FOOTPRINT
Operational
Footprint Status
The subject declined to provide the information
GENERAL COMMENTS
General
Comments
The subject declined to provide the information
FINANCING
TERMS
GENERAL COMMENTS
General
Comments
Financing terms were declined
FINANCIAL
FIGURES
GENERAL COMMENTS
General
Comments
Financial figures were
declined.
TRADE
REFERENCES
GENERAL COMMENTS
General
Comments
Creditor details were declined 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 68.17 |
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1 |
INR 90.47 |
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Euro |
1 |
INR 79.74 |
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ZAR |
1 |
INR 5.06 |
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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PRI |
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Report Prepared
by : |
SYL |
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
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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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.