MIRA
INFORM REPORT
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Report Date : |
21.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
ALATURCA NATURAL STONE WHOLESALERS CC |
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Registered Office : |
371 Angus Crescent, Northlands Business Park, New Market Street, Northriding, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
19 July 2005 |
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Com. Reg. No.: |
2005/096399/23 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Importers and distributors of natural stone, block slabs
and tile |
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 : |
No Complaints |
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Litigation : |
Clear |
COMPANY NAME
ALATURCA NATURAL STONE WHOLESALERS CC
PHYSICAL ADDRESS
371 Angus Crescent
Northlands Business Park
New Market Street
NORTHRIDING
Gauteng
POSTAL ADDRESS
P O Box 1017
NORTHRIDING
2162
TELEPHONE NUMBER: 011 462 5963
FAX NUMBER: 011 462 5916
The subject has a
branch in Cape Town situated at 48 Killarney Avenue, Killarney Gardens, Cape
Town, Western Cape with telephone number 021 557 5131 and fax number 021 557
5231
MEMBERS
33⅓% S CANER D.O.B.
681020
33⅓% H OKSUZ D.O.B.
730217
33⅓% K OKSUZ D.O.B.
801020
ASSOCIATE COMPANIES
It was stated that the same Members are involved in a company in Turkey named ERDEM MARBLE
BANKERS
ABSA BANK, Horizon branch. It was stated that the subject enjoys overdraft facilities. Utilisation is stated to be nil as credit balances are normally maintained at the bank.
DATE REGISTERED
19 July 2005
Registration Certificate Number: 2005/096399/23
VAT NUMBER
4440223578
MAJOR OPERATION
Importers and distributors of natural stone, block slabs and tiles which are quarried in Turkey by the associate company ERDEM MARBLE
MAJOR SUPPLIERS
The subject imports all of its supplies and deals locally with:
EAGLE GLOBAL LOGISTICS Johannesburg
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Retailers
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
Worldwide
TOTAL EMPLOYEES
30
OTHER PREMISES
The subject has branches in Johannesburg, Durban and Cape Town
OWNED OR LEASED
Leased
The following estimated financial situation was submitted:
STOCK minimal
DEBTORS fluctuates
FIXED ASSETS R 2 000 000
CREDITORS fluctuates on imports
OVERDRAFT Nil
TURNOVER per annum R37 000 000
AUDITORS
JULIAN WESSON
YEAR END
FEBRUARY
INSURANCE BROKERS
OUTSURANCE
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. Unable to obtain a trade reference
COMMENTS
This is an established
business which imports all of its supplies.
We have not traced dealings to an extent of US$1 500 000 and would
prefer to see dealings on a letter of credit basis. The lack of a payment pattern 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%)