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MIRA
INFORM REPORT
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Report Date : |
17.08.2007 |
IDENTIFICATION DETAILS
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Name : |
TARZAN SHOE PROPERTIES (PTY) LTD |
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Formerly Known As : |
TARZAN SHOE FACTORY (PTY) LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
15.11.1965 |
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Com. Reg. No.: |
1965/009250/07 |
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Legal Form : |
Private Limited |
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Line of Business : |
Manufacturers of leather shoes and goods |
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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Maximum Credit Limit : |
US$1 000 000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
TARZAN SHOE PROPERTIES (PTY) LTD
Formerly
TARZAN SHOE FACTORY (PTY) LTD, the name having been changed on 31 July 2007.
Trading Name
TARZAN FOOTWEAR
ADDRESS
PHYSICAL ADDRESS
Tulbagh
POSTAL ADDRESS
Tulbagh
6820
TELEPHONE NUMBER : (023) 230-1083
FAX NUMBER : (023) 230-1273
SHAREHOLDERS
J A OLDE-OLTHOF (Jnr)
J A OLDE-OLTHOF (Snr)
MRS H R G OLDE-OLTHOF (Wife)
ASSOCIATE COMPANIES
THE NATURE SHOE (PTY) LTD
DIRECTORS
J A OLDE-OLTHOF (Jnr)
J A OLDE-OLTHOF (Snr)
MRS H R G OLDE-OLTHOF (Wife)
BANKERS
ABSA BANK Tulbagh Main branch. It was stated that the subject enjoys overdraft facilities to an extent of R1 800 000, unsecured. Utilisation of the overdraft is stated to be nil as normally credit balances are maintained.
DATE REGISTERED
15 November 1965
Registration certificate number 1965/009250/07
The subject commenced as a new business.
It was stated that Mr J A Olde-Olthof (Jnr) and Mrs H R G Olde-Olthof both have marketing diplomas and that Mr J A Olde-Olthof (Snr) is reported to have a BCom degree.
VAT NUMBER
4120105764
MAJOR OPERATION
Manufacturers of leather shoes and goods
MAJOR SUPPLIERS
The subject imports most of its supplies and deals locally with:
MOSSOPS
JOHN WHITTLE
EXPEDITORS
MENDELSON AND FROST
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Corporate industry
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
TOTAL EMPLOYEES
30 permanent staff and 18 contract workers
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be owned by the subject.
AUTHORISED SHARE
CAPITAL
R1000 divided into 1000 ordinary shares of R1 each.
ISSUED SHARE CAPITAL: R100
Full financial information was not forthcoming from respondents at the company and outside authorities were unable to assist in this respect.
AUDITORS
L D P AUDITORS
YEAR END
FEBRUARY
INSURANCE BROKERS
WEST PRO INSURANCE BROKERS
TRADE REFERENCES –
NOVEMBER 2000
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. Unable to obtain trade reference
2. 2 yrs R50 000 R30 000 COD Very good
3. 15 – do not disclose figures 60 days 60 Very good
20 yrs
CURRENT TRADE
REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. ±15 yrs R 50 000 R 30 000 60 days 60 days Excellent
2. 2001 open acc R 5 000 30 days 30 days Very good
3. ±10 yrs R500 000 R150 000 60 days 60 days Very good
COMMENTS
This is a well established company that is not a general credit seeker locally. The subject is meeting its local commitments timeously, however, we have not traced dealings to an extent of US$1 000 000. It is suggested that dealings be to a lesser figure on a secured basis and the lack of financial information should be borne in mind.
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. |
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%)