MIRA
INFORM REPORT
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Report Date : |
30.08.2007 |
IDENTIFICATION DETAILS
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Name : |
CHRISTELIKE UITGEWERSMAATSKAPPY (PTY) LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
9 February 1981 |
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Com. Reg. No.: |
1981/001143/07 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importing, publishing and distribution of Christian literature. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
CUM PRODUCTION
PHYSICAL ADDRESS
VEREENIGING
TELEPHONE NUMBER: 016 440 7000
note
On investigation it was
established that there is no company registered at CIPRO under the name of CUM
PRODUCTION, however, the heading address belongs to a number of companies, one
namely, CHRISTIAN ART DISTRIBUTORS CC, which imports and distributes Christian
books and gifts and one called, CHRISTELIKE UITGEWERSMAATSKAPPY(PTY) LTD,
trading as CUM BOOKS, which also imports, publishes and distributes Christian
literature. Respondents at the company
stated that the latter company is the one that deals with the
COMPANY NAME
CHRISTELIKE UITGEWERSMAATSKAPPY (PTY) LTD
TRADING NAME
CUM BOOKS
PHYSICAL ADDRESS
VEREENIGING
POSTAL ADDRESS
VEREENIGING
1930
TELEPHONE NUMBER: 016 440 7014
FAX NUMBER: 016 421 1748
SHAREHOLDERS
C H JOHNSEN
(Majority)
E D JOHNSEN
ASSOCIATE COMPANIES
CHRISTIAN ART DISTRIBUTORS CC
Plus there is a property owning company within the group, namely, IBI HORVATH (PTY) LTD.
DIRECTORS
C H JOHNSEN ID No. 4912295099008
E D JOHNSEN (Wife) ID No. 5106080099005
J JOHNSEN (Son) ID No. 7409235146087
BANKERS
ABSA BANK, Vereeniging Branch. It was stated that the subject enjoys overdraft facilities, secured by a cession of debtors. Utilisation is stated to fluctuate.
DATE REGISTERED
9 February 1981
Registration Certificate Number: 1981/001143/07.
VAT NUMBER
4720102922
MAJOR OPERATION
Importing, publishing and distribution of Christian literature.
MAJOR SUPPLIERS
PREMIER FREIGHT Johannesburg
BOOKSITE AFRICA
ON THE
SAREPTA
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Retailers of Christian literature
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
None
TOTAL EMPLOYEES
300
OTHER PREMISES
35 book stores throughout
OWNED OR LEASED
The head office premises are reported to be owned by the group property company and the book stores are leased.
The following estimated financial situation was submitted:
STOCK R30 000 000
DEBTORS (15% on credit) Cash
FIXED ASSETS R15 000 000
CREDITORS R 8 000 000
LOANS Nil
TURNOVER per annum R10 000 000
AUDITORS
SMITH AND FOURIE
YEAR END
FEBRUARY
INSURANCE BROKERS
H & H MAKELAARS
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. Do not give trade references.
2. Do not give trade references.
3. 7-8 yrs declined R100 000 60 days 60 days Excellent
4. Do not give trade references.
COMMENTS
This is an
established company meeting its obtainable commitment timeously. We have not traced
dealings to an extent of US$1 000 000 and would prefer to see a lesser figure
on a well spread basis.
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%)