MIRA
INFORM REPORT
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Report Date : |
13.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
R HAMMOND CC |
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Registered Office : |
43 Gold Street, Johannesburg, Gauteng |
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Country : |
South
Africa |
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Date of Incorporation : |
1987 |
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Com. Reg. No.: |
1987/013444/23 |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Retailers, wholesalers and factories in
the sewing industry |
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
R HAMMOND CC
PHYSICAL ADDRESS
43 Gold Street
JOHANNESBURG
Gauteng
POSTAL ADDRESS
P O Box 9846
JOHANNESBURG
2000
TELEPHONE NUMBER: 011 334 6729 / 334-6728
FAX NUMBER: 011 334 5893
MEMBERS
40% P R HAMMOND (Jnr) (Son)
30% J HAMMOND
30% V NORMAN (Daughter of J Hammond)
ASSOCIATE COMPANIES
K ADLER (PTY) LTD
CIRCA – AFRICA (PTY) LTD
MANRICH HOLDINGS (PTY) LTD
BANKERS
STANDARD BANK, Carlton Centre Branch, Account Number 001267590. It was stated that the subject enjoys overdraft facilities to an extent of R400 000, secured by members’ guarantees.
DATE REGISTERED
1987
Registration certificate number 1987/013444/23.
The subject was previously a (Pty) Ltd which had been trading since 1963 and prior to that was a sole proprietorship which had been trading since 1953.
VAT NUMBER
4470108939
MAJOR OPERATION
Haberdashery wholesale merchants
MAJOR SUPPLIERS
The subject imports most of its supplies and deals locally with:
FREUDENBURG Cape Town
BRAITEX Cape Town
SA BIAS Johannesburg
CONTRACT FORWARDING Johannesburg
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Retailers, wholesalers and factories in the sewing industry
AREA OF DISTRIBUTION
AND SELLING
South Africa
EXPORTS
Occasionally to Zambia, Zimbabwe, Botswana,
Namibia, Lesotho and Swaziland.
TOTAL EMPLOYEES
26 approx
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be owned by the
associate property company.
MEMBERS CONTRIBUTION
R25 000
The following estimated financial situation was submitted:
STOCK R 3 000 000
DEBTORS R 2 000 000
CREDITORS R 500 000
TURNOVER per annum R15 000 000
AUDITORS
E BALLIM
YEAR END
FEBRUARY
INSURANCE BROKERS
GRAHAM BROKING
RADE REFERENCES –
NOVEMBER 2002
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 1985 R100
000 ±R26 000 30 days 30 days Very good
2. 1980 R100
000 declined 60 days 30 days Very good
3. 20 yrs R15 000 R8
000 30 days 30 days Very
good
4. 10 yrs R150 000 ±R150
000 7/10 days 7/10 days Very good
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 1979 R100
000 varies 60 days 30 days Excellent
2. 1985 R 50 000 R 15 000 - 30
days 30 days Excellent
R 20 000
3. 5 yrs + R400 000 R200
000 15 days 15 days Excellent
From
date of statement
COMMENTS
This is an established business meeting commitments timeously. Suppliers speak highly of the subject. We have not traced dealings to an extent of US$1 million and we would prefer to see such a figure on a well spread and secured 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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