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MIRA INFORM REPORT
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Report No. : |
493620 |
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Report Date : |
03.03.2018 |
IDENTIFICATION DETAILS
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Name : |
GENTECH ENGINEERING PLASTICS CC |
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Registered Office : |
5 Somerset Street,Central, Port Elizabeth, 6000 |
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Country : |
South Africa |
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Date of Incorporation : |
29.11.1995 |
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Com. Reg. No.: |
1995/051772/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
The subject is involved in the manufacture of cast polyurethane elastomer components as well other injection moulded parts |
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No. of Employees : |
32 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 (30.09.2017) |
Current Rating (31.12.2017) |
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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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Executive Summary |
The subject is very well established. No judgments recorded against the subject. There are no principal judgments. Accounts are paid on due date. The subject is considered equal to its normal business engagements |
COMPANY INFORMATION
OVERVIEW
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History |
GENTECH ENGINEERING PLASTICS
CC, trading as GENTECH, was registered in November 1995 and commenced trading
immediately. |
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STATUTORY INFORMATION
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Registered Name |
GENTECH ENGINEERING PLASTICS |
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Trading As |
GENTECH |
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Registration Number |
1995/051772/23 |
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Type Of Company |
Close Corporation |
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Registered Date |
29/11/1995 |
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Date Commenced Trading |
29/11/1995 |
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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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Contact Number |
+27 41 453 1900 |
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Email Address |
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Fax Number |
+27 41 451 4065 |
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Website |
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Social Media Presence |
The subject does not have
any social media presence |
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Registered Physical Address |
5 SOMERSET STREET CENTRAL PORT
ELIZABETH South Africa 6000 |
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Trading Physical Address |
6 Cox Street Neave PORT
ELIZABETH Eastern Cape South Africa 6001 |
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Postal Address |
P O Box 12512 Neave
Industrial PORT ELIZABETH Eastern Cape South Africa 6000 |
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TAX
INFORMATION
TAX INFORMATION
Income Tax Number 9270837074
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 |
4890155197 |
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Status |
Active |
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Registered Name |
GENTECH ENGINEERING PLASTICS CC |
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Trading Name |
GENTECH |
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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 |
ALAN COUSINS AND ASSOCIATES |
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OWNERSHIP
STRUCTURE
SHAREHOLDING
INFORMATION
CURRENT
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Shareholder/Member Name |
Share/Interest |
Type |
Comment |
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BARRY JOHN MC CLELAND |
100.00% |
Member |
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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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BARRY
JOHN MC CLELAND |
4711215146083 |
Member |
Active |
29/11/1995 |
2 |
2 |
0 |
0 |
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STEFANUS MARTIENUS NEL |
5904065023085 |
Member |
Resigned |
01/12/2005 |
3 |
0 |
0 |
0 |
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ACTIVE BUSINESS
INTERESTS: BARRY JOHN MC CLELAND
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Company Name |
Registration No. |
Business Status |
Principal Status |
Principal Type |
Judgments |
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GENTECH PREFORM AND FIBRE |
2010/027098/23 |
Conversion CO/CC or CC/CO |
Active |
Member |
0 |
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GENTECH
PREFORM AND FIBRE |
2010/027098/23 |
Conversion CO/CC or CC/CO |
Active |
Director |
0 |
PREVIOUS BUSINESS
INTERESTS: BARRY JOHN MC CLELAND
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Company Name |
Registration No. |
Business Status |
Principal Status |
Principal Type |
Judgments |
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GENTECH
PREFORM AND FIBRE |
2016/298126/07 |
In Business |
Resigned |
Director |
0 |
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MULTICARB |
1996/055557/23 |
In Business |
Resigned |
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
BANK
ACCOUNT INFORMATION
BANK ACCOUNT CLIENT REQUESTED DETAILS
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Account Reference Number |
Account Holder |
Account Number |
Bank Name |
Branch Name |
Branch Code |
Verification Status |
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ABB142393 |
GENTECH ENGINEERING PLASTICS C C |
080436900 |
STANDARD BANK |
PORT ELIZABETH |
051001 |
Verified by Bank Code |
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BANK ACCOUNTS
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Account Reference Number |
Account Holder |
Account Number |
Bank Name |
Branch Name |
Branch Code |
Verification Status |
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ABB119663 |
GENTECH ENGINEERING PLASTICS CC |
080436900 |
Standard Bank (South Africa) |
PORT ELIZABETH |
051001 |
Verified by Bank Code |
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OPERATIONAL
ACTIVITIES
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Operational Activities Status |
The following information was provided |
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Industry |
Manufacturing |
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Major Industry SIC Code |
20130 - Manufacture of plastics in primary forms: polymers, including those of ethylene, propylene, styrene, vinyl chloride, vinyl acetate and acrylics |
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NACE Code |
20,16 - Manufacture of plastics in primary forms |
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MAJOR
OPERATION
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Major Business Activities |
The subject is involved in
the manufacture of cast polyurethane elastomer components as well other
injection moulded parts |
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Foreign Trade Activities |
National |
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Agencies Held |
• AES SEAL • KLINGER • BIRCHER • PS 23 • JOHNSON
FLUITEN • KADAT
JOHNSON • SWIFT |
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Franchises Held |
The subject holds no
franchises. |
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Major Suppliers |
• INTEGRATED
TOOLING SUPPLY • INSIKA
SERVICE • VULCAN
ENGINEERING LIMITED • SPECIALIZED
MOULDING • HANNOVER
ENGINEERING • CARLIN MEDICAL
EXTRUSIONS • ALP AFRICA • THE SWIFT
INDUSTRIAL COMPANY • JOHN MOFFAT
PROLOCK • BELTING
SUPPLY SERVICES • SONDOR • NATIONAL
URETHANE INDUSTRY |
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Major Customers |
• CONTINENTAL
TYRE • FORD MOTOR
COMPANY • FAURECIA
EXHAUST SYSTEMS • RHEINMETAL • TANKTAINER
LOGISTIC • NISSAN SA • BASF SA • WELFIT ODDY • AIC
CHEMICALS • FIRESTONE • GOODYEAR |
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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. |
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IMPORT
ACTIVITIES
Subject imports.
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Imports From |
To the value of |
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• United States |
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• China |
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• Singapore |
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• Netherlands |
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• India |
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• Poland |
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• Switzerland |
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• United Kingdom |
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• Germany |
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EXPORT
ACTIVITIES
Subject exports
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Exports To |
To the value of |
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• Turkey • United States |
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OPERATIONAL
FOOTPRINT
Operational Footprint Status The following information was
provided
BRANCH & PREMISES
INFORMATION
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Location |
Description/Type |
Size (m2) |
# of Staff |
Rented or Owned |
Lease Expiry Date |
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NEAVE |
Office |
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Owned |
N/A |
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PORT ELIZABETH |
Factory |
1,200 |
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Leased |
30/09/2020 |
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EMPLOYEES
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Permanent Employees |
32 |
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Waged Employees |
16 |
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Casual Employees |
6 |
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COMPANY FLEET
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Total Vehicles |
10 |
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The fleet is made up of: |
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Cars / SUV's |
6 |
Owned |
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Light Delivery Vehicles |
3 |
Owned |
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Trailers |
1 |
Owned |
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FINANCING TERMS
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FINANCING
TERMS |
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Sales Terms |
• 120 Days • 30 Days • 90 Days |
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Overdraft Facility |
The Subject does not have an
overdraft facility |
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Sureties |
The Principals have signed
sureties |
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Debtors Ceded |
Debtors have been ceded. |
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Debtors Factored |
Debtors have not been
factored. |
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Bonds |
The Subject has no bonds. |
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FINANCIAL FIGURES
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GENERAL
COMMENTS |
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General Comments |
Financial information was
declined. |
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TRADE
REFERENCES
TRADE REFERENCES
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Trade Reference |
Date |
Trade Score |
Terms Given (Taken) in days |
Monthly Limit Given (Taken) |
Account Opened |
Payment Trend (prev. 3 years) |
Account Insured |
Notes |
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TR180226171 |
26/02/2018 |
Positive |
30 Days (30 Days) |
50,000 (15,000) (ZAR) |
2008 |
100% |
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No |
This is an excellent account. |
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TR180226170 |
26/02/2018 |
Neutral |
30 Days (30 Days) |
250,000 (50,000) (ZAR) |
1996 |
67% |
50% |
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No |
This is a good account. Maximum amount purchases in one month totalled ZAR180,000. |
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TR180226168 |
26/02/2018 |
Neutral |
30 Days (30 Days) |
45,000 (30,000) (ZAR) |
2015 |
50% |
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Yes |
This is a good account. |
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TR171107339 |
08/11/2017 |
Neutral |
30 Days (30 Days) |
45,000 (20,000) (ZAR) |
2014 |
50% |
50% |
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Yes |
This is a good account. |
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TR1711089 |
08/11/2017 |
Positive |
30 Days (30 Days) |
Confidential (Confidential) |
2011 |
100% |
100% |
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No |
This is an excellent account. |
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TR171107336 |
07/11/2017 |
Positive |
30 Days (30 Days) |
Open Account (720,000) (ZAR) |
2007 |
75% |
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No |
This is an excellent account. |
TRADE REFERENCE ANALYTICS
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Number of valid Trade
References |
14 |
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Overall Trade Score |
71% |
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Average Usage of Terms |
100% |
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Average Monthly Purchase |
102,833 ZAR |
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 64.10 |
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1 |
INR 94.44 |
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Euro |
1 |
INR 79.59 |
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ZAR |
1 |
INR 5.47 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
VAR |
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Report Prepared
by : |
KET |
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.