MIRA INFORM REPORT

 

 

Report Date :

07.08.2007

 

IDENTIFICATION DETAILS

 

Name :

AUTOTRAIL COMPONENTS CC

 

 

Registered Office :

27 Teakwood Road, Jacobs, Kwa-Zulu Natal,

 

 

Country :

South Africa

 

 

Date of Incorporation :

12.07.1988

 

 

Com. Reg. No.:

1988/018728/23

 

 

Legal Form :

Limited Liability

 

 

Line of Business :

Wholesaling and retailing and supplying of spares and components to the trailer market.

 

 

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

 

Maximum Credit Limit :

US$1 000 000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

COMPANY NAME

 

AUTOTRAIL COMPONENTS CC

 

 

PHYSICAL ADDRESS

 

27 Teakwood Road

Jacobs

Kwa-Zulu Natal

 

POSTAL ADDRESS

 

P O Box 12345

JACOBS

4026

TELEPHONE NUMBER  : 031 465 9056

FAX NUMBER               : 031 465 6662

 

 

MEMBERS

 

100%    A R TARAJIA     ID No.   4801275093059

 

It was stated that the subject chanced his surname and it was previously HASSEN

 

 

ASSOCIATE COMPANIES

 

None

 

 

BANKERS

 

ABSA BANK, Jacobs Branch. It was stated that the subject does not require overdraft facilities as credit balances are maintained at the bank.

 

 

DATE REGISTERED

 

12 July 1988

Registration Certificate Number: 1988/018728/23

 

 

VAT NUMBER

 

4680112671

 

MAJOR OPERATION

 

Wholesaling and retailing and supplying of spares and components to the trailer market.

                                                                                                                                   

 

MAJOR SUPPLIERS

 

BPW AXELS, Johannesburg

GOODYEAR AIRBAGS, Johannesburg

ASSOCIATED TRAILER SPARES, Johannesburg

HEAVY DUTY SPARES, Durban

 

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

 

Trailer retailers and transport companies.

 

 

AREA OF DISTRIBUTION AND SELLING

 

Kwa-Zulu Natal

 

 

EXPORTS

 

None

 

 

TOTAL EMPLOYEES

 

9

 

 

OTHER PREMISES

 

None

 

 

OWNED OR LEASED

 

The premises are reported to be owned in a family trust.

 

 

MEMBERS CONTRIBUTION

 

R100

           

The following estimated financial situation was submitted:

 

STOCK (inventory)         R1 200 000 – R1 300 000

TURNOVER per month   R   700 000 – R   800 000

 

 

AUDITORS

 

SULTAN AND ASSOCIATES

 

 

YEAR END

 

FEBRUARY

 

 

INSURANCE BROKERS

 

PETER CHRISTIE INSURANCE BROKERS        

 

 

TRADE REFERENCES

 

            PERIOD            HIGHEST          AVERAGE        TERMS             PAYMENT        EXPERIENCE

                                    CREDIT CREDIT                         PATTERN

 

1.         Oct 1997           R400 000          R160 000          30 days             30 days             Good

                                    c/l                                             2.5%                 2.5%

 

2.         2007                 declined            R100 000          30 days             30 days             Very good

 

3.         March 2003       R  50 000          R    2 000-         30 days             30 days             Good

                                    c/l                     R  30 000

 

4.         Do not give trade references.

 

 

COMMENTS

 

This is an established business meeting commitments timeously. We have not traced dealings to an extent of US$1 000 000 and would prefer to see a far lesser figure, well spread.

 

 

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