MIRA
INFORM REPORT
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Report Date : |
27th
May 2006 |
IDENTIFICATION
DETAILS
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Name : |
MAVERICK TRADING 534 CC |
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Registered Office : |
20 Parkside Drive Silverglen CHATSWORTH Kwazulu Natal |
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Country : |
South
Africa |
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Date of Incorporation : |
15 October 2003 |
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Com. Reg. No.: |
2003/088094/23 |
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Legal Form : |
Limited
liability company |
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Line of Business : |
Importing, purchasing and distribution of
basmati rice from India |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
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 : |
New
Company |
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
COMPANY NAME
MAVERICK TRADING 534 CC
PHYSICAL ADDRESS
20 Parkside Drive
Silverglen
CHATSWORTH
Kwazulu Natal
POSTAL ADDRESS
P O Box 23045
DURBAN
4000
TELEPHONE NUMBER: 031 902 1900 / 031 401 3931
CELLULAR NUMBER: 084 811 8622
MEMBERS
100% D BHARDWAJ ID No. 7201256159184
ASSOCIATE COMPANIES
None.
BANKERS
FIRST NATIONAL BANK, Queens Street Branch. It was stated that the subject does not require overdraft facilities as credit balances are maintained.
DATE REGISTERED
15 October 2003
Registration Certificate Number: 2003/088094/23
D BHADWAJ worked for SPICE EMPORIUM for 1½ years prior to starting the subject.
MAJOR OPERATION
Importing, purchasing and distribution of basmati rice from India.
MAJOR SUPPLIERS
The subject only deals on a COD basis with local suppliers, which are the clearing agents.
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Local customers such as supermarkets, retail, Indian restaurants.
AREA OF DISTRIBUTION AND SELLING
Kwazulu Natal
EXPORTS
None.
TOTAL EMPLOYEES
3
OTHER PREMISES
None.
OWNED OR LEASED
The premises are reported to be leased and D BHADWAJ’s home premises.
MEMBERS CONTRIBUTION
R100
Full financial information was not forthcoming from respondents at the company, however it was stated that stock is between R60 – R70 000 and turnover per month is R10 – R20 000.
AUDITORS
C P G
YEAR END
FEBRUARY
INSURANCE BROKERS
NONE.
TRADE REFERENCES
NOT APPLICABLE
COMMENTS
This is a comparatively new business that is not a general credit seeker locally. In view of the absence of a payment pattern and full financial information, we are not in a position to speak to a figure US$1 000000 which is far too high and would prefer to see a far lesser figure on a letter of credit basis only.
RATING EXPLANATIONS
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RATING |
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 |