MIRA
INFORM REPORT
|
Report Date : |
29th
June 2006 |
IDENTIFICATION
DETAILS
|
Name : |
GOLDKEYS INTERNATIONAL PREPACKS CC |
|
|
|
|
Registered Office : |
87 Shepstone Street Point Durban Kwazulu
Natal |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
5 December 2002 |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
The importing and repacking of grain |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular
|
|
|
|
|
Litigation : |
Clear |
COMPANY NAME
GOLDKEYS INTERNATIONAL PREPACKS CC
PHYSICAL ADDRESS
87 Shepstone Street Point
Durban
Kwazulu
Natal
POSTAL ADDRESS
P O Box 185
DURBAN
4000
TELEPHONE NUMBER: (031) 337-7648
FAX NUMBER: (031) 368-6695
MEMBERS
100% A ALLY
(formerly 50% MS S A ALLY - sister)
ASSOCIATE COMPANIES
ZAFAE FAMILY TRUST
BANKERS
FIRST NATIONAL BANK, Queen Street Branch, account number 62063746625. It was stated that the subject enjoys overdraft facilities to an extent of R500 000, unsecured. Utilisation of the overdraft is stated to fluctuate.
DATE REGISTERED
5 December 2002
Registration certificate number 2002/102773/23.
The subject was registered to take over the assets and operations of a company styled GOLD KEYS PREPACKS CC registration number 1992/004467/23 when the member bought out the remaining shares from his sister.
It was stated that Mr A Ally has a B.Com. degree in finance.
VAT NUMBER
4500211349
MAJOR OPERATION
The importing and prepacking of grain.
MAJOR SUPPLIERS
S A TRADE Durban
FLEXO THENE Durban
IMPACT FREIGHT Durban
M & L SHIPPING Durban
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Retailers and wholesalers.
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
None
TOTAL EMPLOYEES
60
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be owned by a property trust namely the Zafae Family Trust.
MEMBERS CONTRIBUTION
R100
The following estimated financial situation was submitted:
STOCK R 5 000 000
DEBTORS R18 000 000
CREDITORS R 3 500 000
TURNOVER Per month R15 000 000
AUDITORS
D S T
YEAR END
FEBRUARY
INSURANCE BROKERS
PRAESIDIUM INSURANCE BROKERS
TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Unable to obtain trade reference
2. Unable to obtain trade reference
3. Unable
to obtain trade reference
4. 1999 R200
000 R300
000 30 days 30/45 days Good
COMMENTS
This is an established company which is meeting its one commitment over terms at times. We have not traced dealings to an extent of US$1 000 000 DA and would prefer to see far lesser dealings on a spread and secured basis. The account may require monitoring.
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |