MIRA
INFORM REPORT
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Report Date : |
28.07.2007 |
IDENTIFICATION DETAILS
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Name : |
AUSTRALAB CC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
4 March 2003 |
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Com. Reg. No.: |
2003/017367/23 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Exporters of medical supplies |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
COMPANY NAME
AUSTRALAB CC
Formerly
INTERLAB CC, the name having been changed on 1st October 2004.
PHYSICAL ADDRESS
HONEYDEW
POSTAL ADDRESS
HONEYDEW
2040
TELEPHONE NUMBER: 011 794 4751
FAX NUMBER: 011 794 4742
MEMBERS
60% R M J DA COSTA ID No. 6203175220080
40% S J B MC PARTLAND D.O.B. 670131
ASSOCIATE COMPANIES
None
BANKERS
STANDARD BANK. It was stated that the subject enjoys overdraft facilities, secured by a cession of debtors. Utilisation is stated to be partial.
DATE REGISTERED
4 March 2003
Registration Certificate Number : 2003/017367/23
VAT NUMBER
4540205343
MAJOR OPERATION
Exporters of medical supplies
MAJOR SUPPLIERS
ROSCH PHARMACEUTICALS
PHARMQUIP
PROGEN DIAGNOSTICS
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Medical industry, Mozambique Government
AREA OF DISTRIBUTION
AND SELLING
TOTAL EMPLOYEES
3 full time and 1 part time
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 and outside authorities were unable to assist in this regard.
AUDITORS
RYNO HARTMAN
YEAR END
FEBRUARY
INSURANCE BROKERS
UNKNOWN
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. Do not give trade references
2. Unable to obtain a trade references
3. 2 yrs R1 600 000 R1 000 000 30 days 30/45 days Fair
COMMENTS
This is an established business meeting its one contactable commitment slightly over terms. We have not traced dealings to an extent of US$1 000 000 and would prefer to see a far lesser figure on a spread and secured basis.
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%)