MIRA INFORM REPORT

 

 

Report Date :

02.08.2007

 

IDENTIFICATION DETAILS

 

Name :

MEYKER RE-TENG CONSTRUCTOIN (PTY) LTD

 

 

Registered Office :

2A Lilyvale Road, Raydon, Bloemfontein, Free State

 

 

Country :

South Africa

 

 

Date of Incorporation :

22 October 2004

 

 

Com. Reg. No.:

2004/030758/07

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Construction and Civil Engineering

 

 

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

 

MEYKER RE-TENG CONSTRUCTOIN (PTY) LTD

 

 

PHYSICAL ADDRESS

 

2A Lilyvale Road

RAYDON

Bloemfontein

Free State

 

 

POSTAL ADDRESS

 

P O Box 29713

DANHOF

9310

TELEPHONE NUMBER:  051 436 9356

FAX NUMBER:                051 436 9357

 

 

SHAREHOLDERS

 

49%      MEYKER CONSTRUCTION (PTY) LTD

40%      RE TENG BUSINESS ENTERPRISES (PTY) LTD (BEE Company)

11%      AFRICAN SPIRIT TRADING NO 78 (PTY) LTD (BEE Company)

 

 

ASSOCIATE / SUBSIDIARY COMPANIES

 

Not stated

 

 

DIRECTORS

 

M O P MOLEMA (Chairman of the Board)            ID No.   5407055775086

S I MOKGELE (Chief MO)                                  ID No.   5806215572087

M M KHOMO (Non Executive)                             ID No.   5912285806080

J GUTTER (CEO)                                               ID No.   6311305025087

J L DE BRUIN (Executive)                                   ID No.   7204075130089

D C LOURENS (Executive)                                 ID No.   7212085152084

 

 

BANKERS

 

FIRST NATIONAL BANK College Court Bloemfontein Branch, Account Number 62101452704.  Further banking information was not forthcoming from respondents at the subject.

 

 

DATE REGISTERED

 

22 October 2004

Registration Certificate Number:   2004/030758/07

 

 

VAT NUMBER

 

4020220655

 

 

MAJOR OPERATION

 

Construction and Civil Engineering

 

 

MAJOR SUPPLIERS

 

The subject imports most of its supplies and deals locally with:

 

HOLCIM SA

LAFARGE CEMENT

TOSAS

RAUBEX CONSTRUCTION

STONE & ALLIED

 

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

 

Government organizations mainly

 

 

AREA OF DISTRIBUTION AND SELLING

 

South Africa

 

 

EXPORTS

 

Neighbouring countries

 

 

TOTAL EMPLOYEES

 

369

 

 

OTHER PREMISES

 

None

 

 

OWNED OR LEASED

 

Not stated

 

 

AUTHORISED SHARE CAPITAL

 

R1000 divided into 1000 ordinary shares of R1 each

 

 

ISSUED SHARE CAPITAL

 

R120

           

Full financial information was not forthcoming from respondents at the company and outside authorities were unable to assist in this regard.

 

 

AUDITORS

 

C J GEEL INC  Welkom

 

 

YEAR END

 

FEBRUARY

 

 

TRADE REFERENCES

 

            PERIOD            HIGHEST          AVERAGE         TERMS             PAYMENT         EXPERIENCE

                                    CREDIT            CREDIT                                    PATTERN

 

1.         Oct 2006           R800 000          R130 000          30 days             30 days             Good

                                    c/l

 

2.         Do not give trade references.

 

3.         2006                 open acc           R300 000-         30 days             30 days             Good

                                                            R400 000

 

4.         12 months+       R1 000 000        R400 000-         30 days             30 days             Very good

                                    c/l                     R500 000

 

COMMENTS

 

This is a fairly established company meeting commitments timeously. The subject is considered as equal to its normal business engagements.

 

 

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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions