MIRA
INFORM REPORT
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Report Date : |
31st
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
SHEMAROO
IMPORT & EXPORT CC |
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Registered Office : |
57 Cherry
Lane, 85 Loon Road, Sherwood, Durban, Kwazulu Natal |
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Country : |
South Africa |
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Date of Incorporation : |
18.07.2002 |
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Com. Reg. No.: |
2002/055499/23 |
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Legal Form : |
Limited
Company |
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Line of Business : |
Import of
leather |
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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Maximum Credit Limit : |
US$1 000
000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
COMPANY NAME
SHEMAROO
IMPORT & EXPORT CC
PHYSICAL ADDRESS
57 Cherry
Lane
85 Loon
Road
SHERWOOD
Durban
Kwazulu
Natal
POSTAL ADDRESS
P O Box
1154
WANDSBECK
3631
TELEPHONE NUMBER
(031) 207-5148
FAX NUMBER
(031)
209-8534
MEMBERS
50% D CHHIBA ID
NO: 7709215030080
50% P S CHHIBA - brother ID NO:
5902265137085
ASSOCIATE COMPANIES
None
BANKERS
STANDARD
BANK, Musgrave. Respondent declined to assist
with information on banking facilities telephonically and requested that a fax
questionnaire be forwarded. This was
duly sent and as soon as information is forthcoming, the same will be forwarded
to our client.
DATE REGISTERED
18 July
2002
Registration
Certificate Number 2002/055499/23
VAT NUMBER
4900204469
MAJOR OPERATION
Import of
leather.
MAJOR SUPPLIERS
The subject
imports all of its supplies through the shippers ASSURED FREIGHT in Durban.
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Shoe industry
and manufacturers.
AREA OF DISTRIBUTION AND SELLING
Kwazulu
Natal and it was stated that the subject is looking in to distributing to
Johannesburg in the near future.
EXPORTS
None
TOTAL EMPLOYEES
2
OTHER PREMISES
None
OWNED OR LEASED
Leased
MEMBERS CONTRIBUTION
R5 000
We are
awaiting financial information. As soon
as this is forthcoming, the same will be forwarded to our client.
AUDITORS
RAM NAIDOO
FINANCIAL YEAR END
FEBRUARY
INSURANCE BROKERS
DIAL DIRECT
TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 4 – 5 yrs R100 000 R50 000 30 days 30
days Very good
COMMENTS
This is an established
business which is not a general credit seeker locally. We have not traced
dealings to an extent of US$1 000 000 DA and in view of the absence of
financial information we have no basis upon which to speak to such a figure. We would prefer to see dealings to a lesser
extent 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/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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