MIRA
INFORM REPORT
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Report Date : |
21.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
PEEKAY INTERNATIONAL CC |
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Registered Office : |
41 Chatsworth Centre, Durban, Kwa-Zulu Natal |
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Country : |
South Africa |
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Date of Incorporation : |
22 March 1996 |
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Com. Reg. No.: |
1996/013257/23 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Importers and distributors of ladies garments and saris. |
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
PEEKAY INTERNATIONAL CC
PHYSICAL ADDRESS
41 Chatsworth Centre
DURBAN
Kwa-Zulu Natal
POSTAL ADDRESS
P O Box 2144
DURBAN
2000
TELEPHONE NUMBER: 031 403 7361 / 031 402 9900
FAX NUMBER: 086 666 9997
SHAREHOLDERS
100% M A KARA
ASSOCIATE COMPANIES
None
BANKERS
STANDARD BANK, Chatsworth. It was stated that the subject enjoys overdraft facilities to an extent of R100 000 secured by the member’s guarantee. Utilisation is stated to fluctuate.
DATE REGISTERED
22 March 1996
Registration Certificate Number: 1996/013257/23
MAJOR OPERATION
Importers and distributors of ladies garments and saris.
MAJOR SUPPLIERS
The subject imports all of its supplies and deals locally with the agents OCEAN WIDE CLEARING AND FORWARDING
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Wholesalers and the general public.
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
Occasionally to the UK and the USA.
TOTAL EMPLOYEES
6
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be leased.
MEMBERS CONTRIBUTION
R100
Full financial information was not forthcoming from respondents at the subject and outside authorities were unable to assist in this regard.
AUDITORS
S A B & T
YEAR END
FEBRUARY
INSURANCE BROKERS
ALEXANDER FORBES
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. Old acc declined R100 000 120 days 120 days Very good
COMMENTS
This is an established
business meeting its local commitment as arranged. We have not traced dealings
to an extent of $1 500 000 over DA terms and would prefer to see a far lesser
amount spread and secured.
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%)