MIRA
INFORM REPORT
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Report Date : |
12.07.2007 |
IDENTIFICATION DETAILS
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Name : |
LIMITED EDITIONS (PTY) LTD |
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Registered Office : |
Cnr Bekker and Montrose Streets, |
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Country : |
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Date of Incorporation : |
16 June 1986 |
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Com. Reg. No.: |
1986/002437/07 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Mail order company and
sale of television advertised products. |
RATING & COMMENTS
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MIRAs 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
LIMITED EDITIONS (PTY) LTD
TRADING NAME
GLOMAIL
PHYSICAL ADDRESS
Cnr Bekker and Montrose Streets
Midrand
POSTAL ADDRESS
HALFWAY HOUSE
1685
TELEPHONE NUMBER: 011 554 3000
FAX NUMBER:
0866807383
The subject moved from
SHAREHOLDERS
100% GLOHOLD LTD registration certificate
number: 1994/001593/06 (delisted from
the JSE Ltd in April 2000)
ASSOCIATE COMPANIES
MAIL ORDER DISTRIBUTION
(PTY) LTD
CAPTIVE ADVERTISING (PTY) LTD registration certificate number: 1995/000197/07.
MAGIC BY MAIL (PTY) LTD
GROW-TIME (PTY) LTD
ELECTRONIC RETAIL TV (PTY) LTD (shortened name: E R TV) registration certificate number: 1997/005819/07.
HEALTH ZONE (PTY) LTD
registration certificate number:
1999/013886/07.
DIRECTORS
C J JANKELOWITZ
A BER
A J
M H SALOMON
BANKERS
STANDARD BANK, Corporate Branch. It was stated that the subject enjoys overdraft facilities secured by a cession of debtors. Utilisation of the overdraft is stated to fluctuate.
DATE REGISTERED
16 June 1986
Registration certificate
number 1986/002437/07
VAT NUMBER
4370116040
MAJOR OPERATION
Mail order company and
sale of television advertised products.
MAJOR SUPPLIERS
SABC
INTER TALENT
MEDI TV
DD LOGISTICS
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Retail chain stores, e g
PICK N PAY, MAKRO and the general public.
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
The subject is reported
to have a special export division that deals internationally.
TOTAL EMPLOYEES
450 - 500
OTHER PREMISES
The subject has 85
stores countrywide.
OWNED OR LEASED
The premises are
reported to be leased.
ISSUED SHARE CAPITAL
R13 300 000
The following estimated financial situation was submitted:
STOCK R25 000 000 R 26 000 000
DEBTORS R25 000 000 R 30 000 000
CREDITORS R 20 000 000
TURNOVER per annum R200 000 000
AUDITORS
GRANT THORNTON KESSEL
FEINSTEIN
FINANCIAL YEAR END
JUNE
INSURANCE BROKERS
SHIELD FINANCIAL
SERVICES
TRADE REFERENCES
SEPTEMBER 2006
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 8 yrs R8 000 000 R6 000 000 59 days 59
days Good
2. 5 yrs R 20 000 R 20 000 30
days 30 days Good
3. 7 yrs R1 000 000 R
800 000 30 days 30 days Good
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 9 yrs open acc R4 000 000 59 days 59 days Good
2. Old acc open acc declined 30 days 30 days Excellent
3. 7 yrs open acc R 800 000 45 days 45 days Very good
4. 15 yrs open acc R 500 000 30 days 30 days Excellent
COMMENTS
This is an established company meeting commitments timeously. The subject is considered equal to US$1 000 000 spread over 90 days
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 SCs 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%)