MIRA
INFORM REPORT
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Report Date : |
21.08.2007 |
IDENTIFICATION DETAILS
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Name : |
DBT TECHNOLOGIES (PTY) LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
8 September 2006 |
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Com. Reg. No.: |
2006/028250/07 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Heavy engineering for power generation and the petro chemical industry |
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. |
Small |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY NAME
DB THERMAL (PTY) LTD
PHYSICAL ADDRESS
WOODMEAD
POSTAL ADDRESS
KELVIN
2054
TELEPHONE NUMBER: 011 236 6375
note
On investigation it was established that the subject is a trading division of DBT TECHNOLOGIES (PTY) LTD. DB Thermal was previously a division of a company namely SPX Technologies (Pty) Ltd but was taken out of that company and incorporated into the subject in January 2007.
Please see the report on DBT TECHNOLOGIES (PTY) LTD.
COMPANY NAME
DBT TECHNOLOGIES (PTY) LTD
TRADING NAME
DB THERMAL
PHYSICAL ADDRESS
Woodmead
SANDTON
POSTAL ADDRESS
KELVIN
2054
TELEPHONE NUMBER: 011 236 6300
FAX NUMBER: 011 236 6430
SHAREHOLDERS
74,9% SPX CORPORATION (
25,1% TERMICO (PTY) LTD
ASSOCIATE COMPANIES
Companies within the SPX Group of companies
DIRECTORS
K LILLY D.O.B. 530108
I N MKHIZE ID No. 630516015089
P J O’LEARY D.O.B. 570619
H SPREITZER ID No. 510507566182
BANKERS
STANDARD BANK, Parktown Branch. It was stated that the subject does not require overdraft facilities as credit balances are maintained at the bank.
DATE REGISTERED
8 September 2006
Registration Certificate Number: 2006/028250/07
It was stated by respondent that the subject commenced trading in January 2007 when the DB THERMAL Division of SPX TECHNOLOGIES (PTY) LTD was incorporated into the subject.
VAT NUMBER
4270233242
MAJOR OPERATION
Heavy engineering for power generation and the petro chemical industry
MAJOR SUPPLIERS
The subject imports supplies and deals locally with:
AMT
CLOVER CARGO
MACSTEEL WADEVILLE
MAJOR CUSTOMERS OR
BUSINESS SECTORS
ESKOM and SASOL
AREA OF DISTRIBUTION AND
SELLING
EXPORTS
None
TOTAL EMPLOYEES
200 permanent and 800 casual
OTHER PREMISES
The subject has a factory in Nigel
OWNED OR LEASED
The factory premises are reported to be owned by the subject and the head office is leased
AUTHORISED SHARE
CAPITAL
R1000 divided into 1000 ordinary shares of R1 each
ISSUED SHARE CAPITAL
R1000
Full financial information was not forthcoming from respondents at the subject and outside authorities were unable to assist in this regard.
AUDITORS
DELOITTE & TOUCHE
YEAR END
DECEMBER
INSURANCE BROKERS
AON
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. Old open acc R3 000 000 30 days 30 days Very good
2. 2002 R900 000 R 550 000 30 days 30 days Good
c/l
3. Do not give trade references
COMMENTS
This is a relatively
new company which incorporated an established division of an established
company, however, we have not traced dealings to an extent of US$1 000 000 and
would prefer to see a lesser amount well spread.
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%)