MIRA
INFORM REPORT
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Report Date : |
18.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
MYBURG’S
SPORTS |
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Registered Office : |
74 Durban
Street, Uitenhage Central, Uitenhage , Eastern Cape 6229 |
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Country : |
South
Africa |
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Date of Incorporation : |
13.10.1970 |
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Com. Reg. No.: |
713/0060/08/5 |
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Line of Business : |
Dealer in
sports goods and equipment and repair thereof |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Fair |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
SOLE PROPRIETOR
MRS MARION
BAARS
Identity
Number: 5111250086089
TRADING NAME
MYBURG’S
SPORTS
PHYSICAL ADDRESS
74 Durban
Street
UITENHAGE
CENTRAL
Uitenhage
Eastern
Cape
6229
POSTAL ADDRESS
As above
TELEPHONE NUMBER
(041)
992-2148
FAX NUMBER
(041) 992-2148
ASSOCIATE COMPANIES
None
BANKERS
NEDBANK,
Uitenhage. Further information on
banking facilities was not disclosed.
DATE STARTED
13 October
1970
Registration
Certificate Number 713/0060/08/5
VAT NUMBER
4230102347
MAJOR OPERATION
Dealer in
sports goods and equipment and repair thereof.
MAJOR SUPPLIERS
ADIDAS
REEBOK
KINGFISHER
WET SPORTS
IMPORTERS
MAJOR CUSTOMERS OR
BUSINESS SECTORS
General
public
AREA OF DISTRIBUTION
AND SELLING
Locally
EXPORTS
None
TOTAL EMPLOYEES
5
OTHER PREMISES
None
OWNED OR LEASED
The premises
are reported to be owned by Mrs Baars and are stated to be free of bond.
Full
financial information was not forthcoming from respondents at the company and
outside authorities were unable to assist in this respect.
AUDITORS
MICHAEL
MYBURGH
FINANCIAL YEAR END
FEBRUARY
INSURANCE BROKERS
OLD MUTUAL
TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 07/2002 do not disclose figures 60
days 30 days Good
2. 2004 R20
000 R20 000 30 days 30 days Excellent
3. 20 yrs R20
000 R8 000 30/60 30 days Excellent
days 5%
COMMENTS
This is an
established business meeting its commitments timeously. We have not traced dealings to an extent of
US$1 000 000 and such a figure is far too high. In the absence of financial information we would prefer to see
only moderate dealings with the subject.
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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