MIRA
INFORM REPORT
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Report Date : |
19th
January, 2007 |
IDENTIFICATION DETAILS
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Name : |
IRWING
342 INVESTMENTS CC |
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Formerly Known As : |
IRWING
342 CC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
23.05.2000 |
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Com. Reg. No.: |
2000/026625/23 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Trading
and importing of carpets |
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
IRWING
342 INVESTMENTS CC
Formerly IRWING 342 CC, the name
having been changed 21 April 2004
PHYSICAL ADDRESS
PRETORIA
POSTAL ADDRESS
0001
TELEPHONE NUMBER
012 335
1901
FAX NUMBER
012 335 1903
MEMBERS
100% A
MOHAMMED D.O.B. 640731
ASSOCIATE COMPANIES
None
BANKERS
ABSA
BANK, Gezina Branch. It was stated that
the subject does enjoy overdraft facilities.
Utilisation is stated to be occasional.
DATE REGISTERED
23 May
2000
Registration
Certificate Number: 2000/026625/23
VAT NUMBER
4900203714
MAJOR OPERATION
Trading
and importing of carpets
MAJOR SUPPLIERS
The
subject imports mostly from
GENERAL
FREIGHT Durban
MAJOR CUSTOMERS OR BUSINESS
SECTORS:
Retail
and public
AREA OF DISTRIBUTION AND SELLING
EXPORTS
None
TOTAL EMPLOYEES
8
OTHER PREMISES
None
OWNED OR LEASED
The
premises are reported to be owned by the subject and bonded in favour of ABSA
BANK.
Full financial information was not
forthcoming from respondents at the company, however, it was stated that the
subject imports according to orders and the turnover per month can fluctuate
between R1.5 and R2 million.
AUDITORS
MARITZ
BROUARD & ASSOCIATES
YEAR END
FEBRUARY
INSURANCE BROKERS
NONE
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 2 yrs declined R100 000 Cash in advance Very
good
COMMENTS
This is
an established business which is meeting its one local commitment on a cash
basis. We have not traced dealings to an
extent of US$1 million and would prefer to see a far lesser figure on a letter
of credit basis only.
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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