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MIRA INFORM REPORT
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Report Date : |
12th May 2006 |
IDENTIFICATION DETAILS
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Name : |
AMC-CEMA
ELECTRIC (PTY) LTD |
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Registered Office : |
Unit 24 Wadeville
Industrial Crocker
Road WADEVILLE Gauteng |
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Date of Incorporation : |
18
May 1994 |
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Legal Form : |
Pty
Ltd |
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Line of Business : |
Importers
of alternators and manufacturers of generator panels and controls |
RATING & COMMENTS
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MIRA’s Rating : |
B |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
AMC-CEMA ELECTRIC (PTY) LTD
PHYSICAL ADDRESS
Unit 24
Wadeville Industrial
Crocker Road
WADEVILLE
Gauteng
POSTAL ADDRESS
P O Box 14532
WADEVILLE
1422
TELEPHONE NUMBER: 011 902 3692
FAX NUMBER: 011 902 2248
SHAREHOLDERS
50% S J AMOS
50% C LEWEIS
ASSOCIATE COMPANIES
None.
DIRECTORS
S J AMOS ID No. 7403185032082
C LEWEIS ID No. 3709275078007
BANKERS
NEDBANK, Dunswart Branch. It was stated that the subject does not require overdraft facilities as credit balances are maintained at the bank.
DATE REGISTERED
18 May 1994
Registration Certificate Number: 1994/003384/07
VAT NUMBER
4370143671
MAJOR OPERATION
Importers of alternators and manufacturers of generator panels and controls.
MAJOR SUPPLIERS
The subject imports supplies and deals locally with:
ZEST ELECTRIC
IMPSON FREIGHT
AC.DC
MAJOR CUSTOMERS OR BUSINESS SECTORS
Various industries.
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
Occasionally to Australia and African countries.
TOTAL EMPLOYEES
14
OTHER PREMISES
None.
OWNED OR LEASED
The premises are reported to be leased.
AUTHORISED SHARE CAPITAL
R1000 divided into 1000 ordinary shares of R1 each.
ISSUED SHARE CAPITAL
R1000
Full financial information was not forthcoming from respondents at the company and outside authorities were unable to assist in this regard.
AUDITORS
A G BORRAJEIRO
YEAR END
FEBRUARY
INSURANCE BROKERS
MUTUAL & FEDERAL
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 2003 declined R200 000 60
days 60 days Very good
2. 5 yrs R1
000 000 R220 000 60 days 60 days Very good
3. 2004 R 50 000 declined 30 days 30
days Very good
COMMENTS
This is an established company meeting its commitments timeously. We have not traced dealings to an extent of US$1 000 000 and would prefer to see a far lesser amount well spread and fully secured. The lack of financial information should be borne in mind.
RATING EXPLANATIONS
RATING
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STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |