MIRA INFORM REPORT

 

 

Report Date :

11.07.2007

 

IDENTIFICATION DETAILS

 

Name :

M P GENERAL TRADING CC

 

 

Registered Office :

13 Aquarius Street, Phoenix, Milnerton, Western Cape

 

 

Country :

South Africa

 

 

Date of Incorporation :

30 March 2000

 

 

Com. Reg. No.:

2000/015340/23

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

General traders of any airconditioning products as well as the installation thereof.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

Small

 

Status :

Satisfactory

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

COMPANY NAME

 

M P GENERAL TRADING CC

 

 

PHYSICAL ADDRESS

 

13 Aquarius Street

PHOENIX

Milnerton

Western Cape

 

 

POSTAL ADDRESS

 

P O Box 52101

PHOENIX

7441

TELEPHONE NUMBER:  021 555 3548

FAX NUMBER:                021 551 8655

CELLULAR NUMBER:      072 942 4414

 

 

MEMBERS

 

100%    M PACK           ID No.   5309255172085

 

 

ASSOCIATE COMPANIES

 

None

 

 

BANKERS

 

NEDBANK Tokai.  It was stated that the subject enjoys overdraft facilities secured by the member.  Utilisation of the overdraft facility is stated to fluctuate.

 

 

DATE REGISTERED

 

30 March 2000

Registration Certificate Number: 2000/015340/23.

 

 

MAJOR OPERATION

 

Airconditioning – general traders of any airconditioning products as well as the installation thereof.

 

MAJOR SUPPLIERS

 

Respondent stated that they would assist with suppliers, however, they have not as yet provided any further information to the investigator.

 

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

 

Contractors, public

 

 

AREA OF DISTRIBUTION AND SELLING

 

Cape Town and surrounds

 

 

EXPORTS

 

None

 

 

TOTAL EMPLOYEES

 

10 including contractors

 

 

OTHER PREMISES

 

None

 

 

OWNED OR LEASED

 

The premises are reported to be owned and reported to be Mr Pack’s home premises which are owned in his personal capacity.

 

 

MEMBERS CONTRIBUTION

 

R100

           

Full financial information was not forthcoming from respondents at the company and outside authorities were unable to assist in this regard.

 

 

ACCOUNTING OFFICER

 

MICHAEL FRIEDMAN Cape Town 

 

 

YEAR END

 

FEBRUARY

 

 

INSURANCE BROKERS

 

The subject is stated to be insured, however, the name of the brokers was not known

 

 

TRADE REFERENCES

 

None at present

 

 

COMMENTS

 

This is an established business, however, in view of the absence of a payment pattern and financial data we are not in a position to recommend credit dealings whatsoever.  Should further trade references be available same will be forwarded to our client.

 

 

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions