MIRA
INFORM REPORT
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Report Date : |
22.08.2007 |
IDENTIFICATION DETAILS
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Name : |
KOYAL ORIENTAL ARTIFACTS CC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
25 July 2001 |
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Com. Reg. No.: |
2001/050498/23 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Importers and distributors of brassware |
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 : |
Small Company |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
COMPANY NAME
KOYAL ORIENTAL ARTIFACTS CC
PHYSICAL ADDRESS
Reservoir Hills
Kwa-Zulu
POSTAL ADDRESS
As Above
TELEPHONE NUMBER: 031 262 0441
FAX NUMBER:
031 262 0441
MEMBERS
33⅓% K RAMNATH ID
No. 6706305514081
33⅓% L RAMNATH (brother) ID No. 7204165168080
33⅓% Y RAMNATH (brother) ID No. 7005315133084
It was stated by the
respondent that the Members are employed at other companies. The subject is a very small part-time family business.
ASSOCIATE COMPANIES
None
BANKERS
STANDARD BANK, Albert Street Branch, account number: 250450054. It was stated that the subject enjoys overdraft facilities to an extent of R15 000, secured by a cession of debtors. Utilisation is stated to fluctuate.
DATE REGISTERED
25 July 2001
Registration Certificate Number: 2001/050498/23
VAT NUMBER
4410195814
MAJOR OPERATION
Importers and distributors of brassware
MAJOR SUPPLIERS
The subject imports supplies and deals locally with:
R S SHIPPING
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Retailers and hawkers
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
None
TOTAL EMPLOYEES
3
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be the home premises of K RAMNATH and are owned in his personal capacity and valued in the region of R1 million, bonded in favour of ABSA BANK to an extent of R200 000.
MEMBERS CONTRIBUTION
R100
The following estimated financial situation was submitted:
STOCK R150 000
DEBTORS R 30 000
CREDITORS Nil
OVERDRAFT R15 000
LOANS Nil
TURNOVER per month R10 000
AUDITORS
Y D MAHARAJ & CO
YEAR END
SEPTEMBER
INSURANCE BROKERS
ROY PILLAY
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 2001 R100 000 R50 000 30 days 30 days Good
Last purchased in 2005
COMMENTS
This is a relatively
established business which imports most of its supplies. We would prefer to see dealings with the
subject on a letter of credit basis in view of the negligible turnover.
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%)