MIRA
INFORM REPORT
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Report Date : |
31st
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
J-QUIP
SPORTS CC |
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Registered Office : |
293
Voortrekker Road, Maitland, Cape Town, Western Cape |
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Country : |
South
Africa |
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Date of Incorporation : |
06.07.1999 |
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Com. Reg. No.: |
1999/038626/23 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Manufacture
and sale of sports equipment. |
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 : |
Usually
Correct |
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Litigation : |
Clear |
COMPANY NAME
J-QUIP
SPORTS CC
PHYSICAL ADDRESS
293
Voortrekker Road
Maitland
CAPE TOWN
Western Cape
POSTAL ADDRESS
P O Box 409
MAITLAND
7404
TELEPHONE NUMBER
021 511
0522
FAX NUMBER
021 511 0522
MEMBERS
50% B M JACOBS ID
No. 7508145030081
50% D JACOBS ID
No. 4609255126082
ASSOCIATE COMPANIES
None
BANKERS
FIRST
NATIONAL BANK, Maitland Branch, Account Number: 62010939562. It was stated that the subject enjoys
overdraft facilities. Utilisation is
stated to be occasional.
DATE REGISTERED
6 July
1999
Registration
Certificate Number: 1999/038626/23
VAT NUMBER
4730190222
MAJOR OPERATION
Manufacture
and sale of sports equipment
MAJOR SUPPLIERS
DE WETS
SPORTS Cape Town
HORNET
KNITTING MILLS Parow
KEHLS
EQUIPMENT Cape Town
VITA
FOAM SA Cape Town
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Athletics
groups, clubs, schools, etc
AREA OF DISTRIBUTION AND SELLING
Western
Cape
EXPORTS
None
TOTAL EMPLOYEES
5
OTHER PREMISES
None
OWNED OR LEASED
The
premises are reported to be leased.
MEMBERS CONTRIBUTION
R200
Full
financial information was not forthcoming from respondents at the subject,
however, it was stated that:
STOCK manufacture
on order
FIXED ASSETS R100
000
LOANS Nil
TURNOVER per month R100
000
AUDITORS
DAVID
LEVETON
YEAR END
FEBRUARY
INSURANCE BROKERS
BUDGET
INSURANCE BROKERS
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 8 yrs COD Very
good
2. 3 yrs COD Very
good
3. COD No
comment
COMMENTS
This is
an established business that is meeting its commitments on a COD basis. It is therefore suggested that all dealings
be on a letter of credit basis only in view of the age of the operation.
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/normal. |
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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