MIRA
INFORM REPORT
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Report Date : |
02.08.2007 |
IDENTIFICATION DETAILS
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Name : |
MISTER IMPORT CC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
25 July 2004 |
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Com. Reg. No.: |
2004/071963/23 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and export of industrial fasteners. |
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 : |
Small Business |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY
MR IMPORT CC
PHYSICAL ADDRESS
79 Grahamstown road
NORTH END
postal address
NORTH END
6056
TELEPHONE NUMBER : 041 484 2122
FAX NUMBER : 041 484 2123
On investigation it was established that the correct, registered name of the subject is MISTER IMPORT CC, which report should be consulted.
COMPANY NAME
MISTER IMPORT CC
PHYSICAL ADDRESS
NORTH END
POSTAL ADDRESS
NORTH END
6056
TELEPHONE NUMBER: 041 484 2122
FAX NUMBER:
041 484 2123
MEMBERS
50% K NATHOO ID
No. 7004115004082
50%
ASSOCIATE /
SUBSIDIARY COMPANIES
BANKERS
STANDARD BANK, North End,
DATE REGISTERED
25 July 2004
Registration Certificate Number: 2004/071963/23
The subject took over existing import and export operations from the associate business in INDIA BOLT AND NUT (PTY) LTD and now acts as the import and export arm for the associate business.
VAT NUMBER
4750216618
MAJOR OPERATION
Import and export of industrial fasteners.
MAJOR SUPPLIERS
The subject imports 100% of its supplies and deals locally with SEBENZA FORWARDING.
MAJOR CUSTOMERS OR
BUSINESS SECTORS
The subject only deals with its associate company, which
then distributes into
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
Neighbouring countries.
TOTAL EMPLOYEES
2 Members
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be leased.
MEMBERS CONTRIBUTION
R100
Full financial information was not forthcoming from respondents at the subject, however, it was stated that there are very small loans in the subject; stock is fast moving and the annual turnover is approximately R1 000 000.
AUDITORS
RAMATHE,
YEAR END
FEBRUARY
INSURANCE BROKERS
S A EAGLE INSURANCE BROKERS
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. April 2006 R15 000 R14 000 14 days 14 days Good
c/l
COMMENTS
This is a fairly
established business that is not a general credit seeker locally. We have not
traced dealings to an extent of US$1 000 000 and would prefer to see a far
lesser figure on a letter of credit basis in view of the small operation.
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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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%)