MIRA
INFORM REPORT
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Report Date : |
14.07.2007 |
IDENTIFICATION DETAILS
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Name : |
CKARATCO (PTY) LTD |
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Registered Office : |
Suite 203, 27 Ridge Road, Cnr St Andrews and York Street, Parktown, Johannesburg, Gauteng |
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Country : |
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Date of Incorporation : |
24 July 2003 |
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Com. Reg. No.: |
2003/017551/07 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Wholesale and
retail of diamonds and jewellery. |
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
CKARATCO (PTY) LTD
Formerly
PANDA DIAMONDS (PTY) LTD, the name having been changed on 2 November 2006.
TRADING DIVISIONS
PANDA DIAMONDS
JEWEL
SUNSTAR
PHYSICAL ADDRESS
Cnr St Andrews and
PARKTOWN
POSTAL ADDRESS
2001
TELEPHONE NUMBER: 011 274-4900
FAX NUMBER: 011 274-4980
SHAREHOLDERS
T L WATSON (majority)
ROSY BLU DIAMONDS
ASSOCIATE COMPANIES
CULLINAN AND
DIAMONDS (PTY) LTD
JEWEL AFRICA (PTY)
LTD, dormant.
TROPICAL COLLECTION
(PTY) LTD
DIRECTORS
T L WATSON ID No. 5712225245088
W F MAKOVINI ID No. 6905115052080
BANKERS
NEDBANK,
DATE REGISTERED
24 July 2003
Registration Certificate
Number 2003/017551/07
The subject
converted from a close corporation that was established in 1988, Registration
Certificate Number 1988/021376/23.
VAT NUMBER
4100105362
MAJOR OPERATION
Wholesale and retail
of diamonds and jewellery.
MAJOR SUPPLIERS
The subject imports
and deals locally with
GADDI DIAMONDS
BRINKS
RAM INTERNATIONAL
EFUNE INTERNATIONAL
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Jewellery stores
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
TOTAL EMPLOYEES
130
OTHER PREMISES
OWNED OR LEASED
Leased
AUTHORISED SHARE
CAPITAL
1 000 divided into 1
000 ordinary R1 shares.
ISSUED SHARE CAPITAL
R140
The following estimated
financial situation was submitted:
STOCK R 55 000 000
DEBTORS R 30 000 000
FIXED ASSETS R 4 000 000
CREDITORS R 12 000 000
OVERDRAFT Nil
TURNOVER per annum R200 000 000
AUDITORS
HARRIS DOWDEN AND
FONTAINE
FINANCIAL YEAR END
FEBRUARY
INSURANCE BROKERS
ASSOCIATED INSURANCE
BROKERS
TRADE REFERENCES –
AUGUST 2006
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 3 yrs R800
000 R600 000 30 days 30 days Excellent
2. 3 yrs R500
000 R500 000 30 days 30 days Good
3. 5 yrs R 50 000 R 50 000 30
days 30 days Good
CURRENT TRADE
REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 7 yrs+ open
acc declined 30 days 30 days Excellent
2. 20 yrs open
acc R1 000 000 30 days 30
days Excellent
3. Old acc R60
000 R 60 000+ 30
days 30 days Very Good
4. 10 yrs+ open
acc R40 000 30 days 30 days Excellent
COMMENTS
This is a relatively established company meeting its commitments timeously. The subject is considered equal to its normal business engagements.
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%)