MIRA
INFORM REPORT
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Report Date : |
9th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
COPPERTONE
TRADING CC |
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Registered Office : |
3rd Floor, Kevro House,
Hulbert Street, New Centre, Johannesburg, Gauteng |
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Country : |
South
Africa |
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Date of Incorporation : |
03.11.2005 |
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Com. Reg. No.: |
2005/159522/23 |
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Line of Business : |
Import
of clothing for the associate company which in turn distributes to the
clothing industry. |
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 : |
Usually
Correct |
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Litigation : |
Clear |
COMPANY NAME
COPPERTONE TRADING CC
PHYSICAL ADDRESS
3rd Floor
Kevro House
Hulbert Street
NEW CENTRE
Johannesburg
Gauteng
POSTAL ADDRESS
P O Box 29098
SANDRINGHAM
2131
TELEPHONE NUMBER
(011)
493-6621
FAX NUMBER
(011)
493-4295
CELLULAR NUMBER
082 417
5675
MEMBERS
50% K BERKOWITZ Identity number:
6609045227008
50% R A HODES Identity
number: 6001315063083
ASSOCIATE COMPANIES
The
members are reported to be involved in other companies, the names of which were
not forthcoming.
BANKERS
ABSA
BANK, Kempton Park. It was stated that
the subject does not require overdraft facilities as credit balances are
maintained.
DATE REGISTERED
3
November 2005
Registration
Certificate Number 2005/159522/23
MAJOR OPERATION
Import of
clothing for the associate company which in turn distributes to the clothing
industry.
MAJOR SUPPLIERS
The
subject is reported to import all of its supplies through KUEHNE & NAGEL.
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Clothing
industry
AREA OF DISTRIBUTION AND SELLING
South
Africa
EXPORTS
None
TOTAL EMPLOYEES
4
OTHER PREMISES
None
OWNED OR LEASED
Leased
MEMBERS CONTRIBUTION
R100
Full
financial information was not forthcoming from respondents at the company and
outside authorities were unable to assist in this respect.
AUDITORS
LIPSCHITZ
ASSIN AND PARTNERS
FINANCIAL YEAR END
FEBRUARY
INSURANCE BROKERS
FERGUSON
& ASSOCIATES
TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 3 months R534 000 declined 30 days 30
days Very good
COMMENTS
This is a
new business which imports all of its supplies. We have not traced dealings to an extent of US$1 000 000 and
would prefer to see such dealings on a letter of credit basis in view of the
lack of financial information.
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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