MIRA
INFORM REPORT
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Report Date : |
21st
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
UNIVERSAL
TRUCK AND BUS PARTS CC |
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Registered Office : |
425
Umgeni Road, Durban, Kwazulu Natal |
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Country : |
South
Africa |
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Date of Incorporation : |
24.02.1995 |
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Com. Reg. No.: |
1995/007575/23 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Import
and distribution of heavy duty truck and bus spares. |
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
UNIVERSAL
TRUCK AND BUS PARTS CC
PHYSICAL ADDRESS
425 Umgeni
Road
DURBAN
Kwazulu
Natal
POSTAL ADDRESS
P O Box
74571
ROCHDALE
PARK
4034
TELEPHONE NUMBER
(031)
309-3344
FAX NUMBER
(031)
309-5490
MEMBERS
100% A BAIJNATH
ASSOCIATE COMPANIES
AUTO BODY
SUPPLIES (PTY) LTD
AUTO
TRIMMERS & GLASS FITTERS (PTY) LTD
425 UMGENI
ROAD (PTY) LTD – property owning company
BANKERS
FIRST
NATIONAL BANK, Florida Road, Durban.
The subject is reported to enjoy overdraft facilities, secured by the
member’s guarantee. Utilisation of the
overdraft is stated to fluctuate.
DATE REGISTERED
24 February
1995
Registration
Certificate Number 1995/007575/23
VAT NUMBER
4280149446
MAJOR OPERATION
Import and
distribution of heavy duty truck and bus spares.
MAJOR SUPPLIERS
The subject
imports 60% of its supplies and deals with its associate companies. The subject also deals with:
BIG
MAX Johannesburg
SPEDAG Durban
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Trucking
industry
AREA OF DISTRIBUTION AND SELLING
South
Africa
EXPORTS
African
countries
TOTAL EMPLOYEES
11
OTHER PREMISES
A branch in
Springfield Park, Durban.
OWNED OR LEASED
The
premises are reported to be owned by the associate property owning company.
MEMBERS CONTRIBUTION
R100
Full
financial information was not forthcoming from respondents at the company and
outside authorities were unable to assist in this respect.
AUDITORS
KEEGAN
FINANCIAL YEAR END
JUNE
INSURANCE BROKERS
REID
RAETZER
TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2 yrs R20
000 varies 30 days 45 – 60 Slow
Days
2. 8 yrs+ R100
000 R50 000 30 days 30 days Very good
COMMENTS
This is an
established business meeting its commitments over terms at times. It is
suggested 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/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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