MIRA
INFORM REPORT
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Report Date : |
26.07.2007 |
IDENTIFICATION DETAILS
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Name : |
SAFETY MATCH TRADERS CC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
09.06.2006 |
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Com. Reg. No.: |
2006/094296/23 |
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Legal Form : |
Limited Liability |
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Line of Business : |
Trading in matches, smoking pipes, requisites and other
small food products |
RATING & COMMENTS
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MIRA’s Rating : |
NR |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
COMPANY NAME
SAFETY MATCH TRADERS CC
PHYSICAL ADDRESS
Fordsburg
POSTAL ADDRESS
CROWN MINES
2025
TELEPHONE NUMBER : 011 836 3636
FAX NUMBER : 011 836 3637
CELL NUMBER : 083 444 4700
MEMBERS
100% A MAYET
ID No. 7612252346189
ASSOCIATE COMPANIES
None
BANKERS
STANDARD BANK,
DATE REGISTERED
9 June 2006
Registration Certificate Number: 2006/094296/23
S S Mayet is reported to manage the business and is reported to be the husband of the Member. He is stated to have been involved in the trading for over 5 years.
The subject will only commence operating within the next few months as it has just started and they are awaiting their VAT registration number.
MAJOR OPERATION
The subject will be trading in matches, smoking pipes, requisites and other small food products.
MAJOR SUPPLIERS
The subject imports all of its supplies and does not as yet utilise clearing agents as they are organising imports directly to the subject.
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Wholesalers
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
Neighbouring countries.
TOTAL EMPLOYEES
5
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be leased
MEMBERS CONTRIBUTION
R100
Full financial information was not forthcoming from respondents at the subject, in view of the infancy of the concern, however, it was stated that the subject is being financed by the Member and her husband and they are dealing on a letter of credit basis with overseas. The estimated turnover per month is
R700 000.
AUDITORS
MONEY STYLE NETWORK CC
YEAR END
FEBRUARY
INSURANCE BROKERS
RELIANCE INSURANCE BROKERS
TRADE REFERENCES
NOT APPLICABLE
COMMENTS
This is a brand new business that has not, as yet, begun trading. We, therefore, are not in a position to recommend credit dealings. We suggest that all dealings be 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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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%)