MIRA
INFORM REPORT
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Report Date : |
12.07.2007 |
IDENTIFICATION DETAILS
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Name : |
FREDISCO DYES & CHEMICALS CC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
25 August 1987 |
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Com. Reg. No.: |
1987/019206/23 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Importers and distributors of dye stuffs as well as importers, exporters and manufacturers of chemicals |
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
FREDISCO DYES & CHEMICALS CC
PHYSICAL ADDRESS
GILLETTS
POSTAL ADDRESS
4000
TELEPHONE NUMBER: 031 767 1287
FAX NUMBER: 031 767 1054
MEMBERS
55% P P SCHNEIDER ID No. 3908215075103
25% E M SCHNEIDER (Wife) ID No. 4701240022003
20% L L S Y JONES (Resident in
ASSOCIATE COMPANIES
E T C EURASIAN TRADING (PTY) LTD
REMATEX CC
BANKERS
RMB PRIVATE BANK Umhlanga Ridge Branch,
DATE REGISTERED
25 August 1987
Registration certificate number 1987/019206/23. The close corporation was registered to take over a business that was commenced in approximately 1935, but the present members took over the business in 1982 as a (Pty) Ltd company.
MAJOR OPERATION
Importers and distributors of dye stuffs as well as importers, exporters and manufacturers of chemicals
MAJOR SUPPLIERS
The subject imports substantially and deals locally with:
AXIS FREIGHT
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Textile, leather, plastics and paints industry
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
TOTAL EMPLOYEES
7
OTHER PREMISES
The subject is stated to have a warehouse in
OWNED OR LEASED
The premises are reported to be owned by P P Schneider, free of bond.
MEMBERS CONTRIBUTION
R1000
The following estimated financial situation was submitted:
STOCK varies due to shipments R 500 000 – R2 000 000
DEBTORS R2 000 000 - R3 000 000
CREDITORS fluctuate as subject deals on a letter of credit basis
TURNOVER per month R1 500 000
AUDITORS
LIEBENBERG & FRASER
YEAR END
FEBRUARY
INSURANCE BROKERS
BAY
TRADE REFERENCES JULY
1997
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 15 yrs R500 000 R 5 000- C.O.D
R500 000
2. 10 yrs R100 000 R 30 000- 30 days 30 days Good
c/l R100 000
CURRENT TRADE
REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Do not give trade references
2. Do not give trade references
COMMENTS
This is an established business which appears to import most of its supplies. We have not traced dealings to an extent of US$1 000 000 and would prefer to see dealings to a far lesser figure well spread and secured.
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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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%)