MIRA
INFORM REPORT
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Report Date : |
9th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
RANDLES
2011 INVESTMENTS CC |
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Registered Office : |
Unit No. 4.3, Canberra Park, 20 Canberra Road, Umbilo,
Kwazulu Natal |
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Country : |
South
Africa |
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Date of Incorporation : |
10.06.1996 |
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Com. Reg. No.: |
1996/026992/23 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Trading in textiles, garments, glass, metals, abrasives, hardware and household items, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable
to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
COMPANY NAME
RANDLES
2011 INVESTMENTS CC
TRADING NAME
AARDEE
INTERNATIONAL
PHYSICAL ADDRESS
Unit No.
4.3
Canberra Park
20
Canberra Road
UMBILO
Kwazulu
Natal
POSTAL ADDRESS
P O Box
149809
EAST
END
4018
TELEPHONE NUMBER
031 304
6023
FAX NUMBER
031 306
5912
The subject
moved from Unit No. 16, Point West Centre, Timber Street, Durban a few years
ago.
MEMBERS
30% D K GUPTA (Majority)
30% A K SHARMA
20% MISS A OHRI
20% R OHRI (Brother – temporary resident in SA)
ASSOCIATE COMPANIES
RANDLES
2021 INVESTMENT CC trading as AKAYDEE INTERNATIONAL
AFRICHOICE
TRADING CC
HENQUE
3631 CC trading as SAJDEE INTERNATIONAL
BANKERS
NEDBANK,
Gale Street Branch, Account Number: 1381395007. It was stated that the subject does not have overdraft facilities
as credit balances are maintained at the bank.
DATE REGISTERED
10 June
1996
Registration
Certificate Number: 1996/026992/23
MAJOR OPERATION
Trading company, which deals in textiles, garments, glass, metals, abrasives, hardware and household items, etc.
MAJOR SUPPLIERS
The
subject imports most of its supplies and deals locally with:
SABENZA
FORWARDING
OCEANWIDE
CLEARING & FORWARDING
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Wholesalers
AREA OF DISTRIBUTION AND SELLING
South
Africa
EXPORTS
India
TOTAL EMPLOYEES
15
OTHER PREMISES
It was
reported that the subject has a warehouse situated at 121 Old South Coast Road,
Bayhead, Durban.
OWNED OR LEASED
The
premises are reported to be leased
MEMBERS CONTRIBUTION
R600 000
The following
estimated financial situation was submitted:
STOCK R13
000 000
DEBTORS R 5 000 000
FIXED ASSETS R 100 000
CREDITORS R 5 000 000
LOANS R 1 000 000
CAPITAL EMPLOYED R 6 000 000
TURNOVER per month R 3 000 000
AUDITORS
PATEL
& PATEL (Mr V J Patel)
YEAR END
FEBRUARY
INSURANCE BROKERS
PATEL
& PATEL and GKI INSURANCE
PREVIOUS TRADE REFERENCES –
FEBRUARY 2000
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 4 yrs R500 000 R250 000 - 60 days 60 Good
R350
000
2. 3 yrs R 35 000 R
25 000 30 30 Good
R 35 000
CURRENT TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1.9 yrs R3 500 000 R1 000 000± 30 days 30
days Very good
2.5 yrs + declined declined 30 days 30
days Very good
COMMENTS
This is an established business that imports most of its supplies and is meeting its local commitments timeously. We have not traced dealings to an extent of $1 million and would prefer to see a far lesser amount dealt with on a spread basis.
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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