MIRA
INFORM REPORT
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Report Date : |
10.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
HIKMA MARKETING CC |
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Registered Office : |
8
Haggie Road, Dunswart, Boksburg,
Gauteng |
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Country : |
South
Africa |
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Date of Incorporation : |
15
April 1997 |
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Com. Reg. No.: |
1997/019314/23 |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Wholesalers
and distributors of groceries. |
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
HIKMA MARKETING CC
PHYSICAL ADDRESS
8 Haggie
Road
DUNSWART
Boksburg
Gauteng
POSTAL ADDRESS
P O Box 6083
DUNSWART
1508
TELEPHONE NUMBER: 011
914 4331
FAX NUMBER: 011
914 4338
MEMBERS
100% ABDUL QAYYUM HOOSAIN (ID no: 6809065081083)
ASSOCIATE COMPANIES
NTCO
IMPORT AND EXPORT CC
HIKMA
FIREARMS & AMMUNITIONS CC
SOFTI
BREAD CC
HIKMA
PROPERTY CC
PRINCESS
CIRCLE INVESTMENTS (PTY) LTD
BANKERS
STANDARD
BANK, Boksburg Branch, Account Number: 422042110. It was stated that the subject enjoys overdraft facilities to an
extent of R5 million, secured by insurance policies and a pledge of properties. Utilisation is stated to be partial.
The
subject also banks with NEDBANK, Business East Rand Branch, Account
Number: 1288109644. The subject enjoys overdraft facilities to
an extent of R5 million, secured by insurance policies and a pledge of
properties. Utilisation is stated to be
partial.
DATE REGISTERED
15 April
1997
Registration
Certificate Number 1997/019314/23
The
subject commenced as a new business.
VAT NUMBER
4350178986
MAJOR OPERATION
Wholesalers
and distributors of groceries.
MAJOR SUPPLIERS
The
subject imports from India, but deals locally with:
PREMIER
FOODS Johannesburg
TIGER
MILLING Johannesburg
TASTIC
RICE Johannesburg
LANGEBERG
FOODS Johannesburg
LION
MATCH CO Johannesburg
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Wholesalers
e.g. Jumbo Cash & Carry etc.
AREA OF DISTRIBUTION
AND SELLING
South
Africa, however, mainly in Gauteng.
EXPORTS
None
TOTAL EMPLOYEES
40
OTHER PREMISES
None,
however it was stated that the subject has approximately 20 agents situated
mainly in the rural areas of South Africa.
OWNED OR LEASED
The
heading premises are reported to be owned by NTCO IMPORT AND EXPORT CC and
valued in the region of R75 million, free of bond. The latter close corporation is also in the process of building a
second warehouse on the property which will be completed in approximately 6
months time and that will also be valued in the region of R20 million, free of
bond.
MEMBERS CONTRIBUTION
R100
The
following estimated financial situation was submitted:
STOCK R10 000 000
– R 20 000 000
DEBTORS R
12 000 000
CREDITORS R
10 000 000
TURNOVER
per annum R 210 000 000
ACCOUNTING OFFICER
MIA
KADWA AND COMPANY
YEAR END
FEBRUARY
INSURANCE BROKERS
A C
CHRYSAMATOUS
TRADE REFERENCES –
MAY 2006
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 8 yrs R12 000 000 R 8
000 000 - 30 days 30 days Excellent
R12
000 000
2. 6 yrs R 2 000 000 R 2 000 000 21
days 21 days Excellent
2½%
3. 6 yrs R 3 000 000 declined 30 days 30 days Very Good
c/l
4. 1999 R 4 500 000 R4 500 000 30 days 30
days Good
c/l
TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 5 yrs R10
000 000 R 4 000 000 - 21 days 21 days Very
good
R10
000 000 1%
2. 10 yrs R 4 500 000 R 4 500 000 30
days 30 days Excellent
Date
of delivery
2%
3. 6 yrs R11 000 000 R 6
000 000 - 30 days 30 days Very Good
R 7 000 000 2%
COMMENTS
This is a well established business meeting its commitments timeously. No adverse comments have been heard. The subject is considered equal to its normal business engagements and for an amount of US$1 million against DA terms.
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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