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MIRA
INFORM REPORT
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Report Date : |
13.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
VHAZWIMI PROPERTIES (PTY) LTD |
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Registered Office : |
5th Floor, Corporate Place, 23 Fredman Drive, Sandton, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
03.02.1998 |
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Com. Reg. No.: |
1998/001764/07 |
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Legal Form : |
Private Limited |
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Line of Business : |
Building contractors |
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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Maximum Credit Limit : |
US$1 000 000 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
VHAZWIMI PROPERTIES (PTY) LTD
ADDRESS
PHYSICAL ADDRESS:
5th Floor
Corporate Place
23 Fredman Drive
Sandton
Gauteng
POSTAL ADDRESS:
P O Box 411406
CRAIGHALL
2024
TELEPHONE NUMBER : 011 884 7910
FAX NUMBER : 011 884 7911
SHAREHOLDERS
100% VHAZWIMI INVESTMENT HOLDINGS (PTY) LTD
ASSOCIATE COMPANIES
VHAZWIMI SECURITY (PTY) LTD
DIRECTORS
C M MAHLANGU ID No. 7911170301080
M J MOTSOENENG ID No. 7306295350080
S T MOTSUMI ID No. 5905215780086
T N MOTSUMI (son) ID No. 8507155023084
BANKERS
STANDARD BANK, Randburg branch. It was stated that the subject enjoys overdraft facilities, secured by the personal guarantees of the Directors. Utilisation is stated to be nil as credit balances are normally maintained at the bank.
DATE REGISTERED
3 February 1998
Registration Certificate Number: 1998/001764/07
VAT NUMBER
4540177708
MAJOR OPERATION
Building contractors
MAJOR SUPPLIERS
BUILDERS WAREHOUSE
ACON BRICKS
HOLCIM
PLUMBLINE
MAJOR CUSTOMERS OR
BUSINESS SECTORS
General public and Government
AREA OF DISTRIBUTION
AND SELLING
South Africa
EXPORTS
None
TOTAL EMPLOYEES
8 permanent and 150 contract staff
OTHER PREMISES
The subject has a warehouse in Wynberg
OWNED OR LEASED
Leased
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 subject and outside authorities were unable to assist in this regard.
AUDITORS
NARUNSKY ELLIS & ASSOCIATES
YEAR END
FEBRUARY
INSURANCE BROKERS
UNINSURED
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. Do not give trade references
2. 08/2006 R300 000 R20 000 30 days 30 days Very good
3. 10/2006 R100 000 R10 000 30 days 34 days Good
4. 08/2007 declined R10 000 30 days 30 days Too new to
Comment
COMMENTS
This is an established business meeting its small commitments over terms. We have not traced dealings to an extent of US$1 000 000 over DA and suggest that all dealings be on a letter of credit 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%)