MIRA
INFORM REPORT
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Report Date : |
05.06.2007 |
IDENTIFICATION DETAILS
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Name : |
MARBLE CLASSIC (PTY) LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
31 January 2005 |
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Com. Reg. No.: |
2005/002750/07 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
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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
MARBLE CLASSIC (PTY) LTD
PHYSICAL ADDRESS
SPARTAN
POSTAL ADDRESS
ISANDO
1600
TELEPHONE NUMBER: (011) 392 6700
FAX NUMBER: (011) 392 6798/9
It was stated by respondents that the address of 6 Loper Avenue, Spartan are the premises of HIGHTECH CERAMICS CC in which business Mr D’Agnolo’s wife, Mrs S D’Agnolo, is the 100% member.
SHAREHOLDERS
100% F D'AGNOLO (Italian)
ASSOCIATE COMPANIES
MARBLE CLASSIC
VALGRANITE (PTY) LTD
GRANITI TECNICA CC
MARBLE AND GRANITE TEAM CC
TEKNO GRANITE (PTY) LTD
D'AGNOLO PROPERTIES (PTY) LTD
DIRECTORS
F D'AGNOLO
BANKERS
FIRST NATIONAL BANK Carlton Centre Branch, account number 50490134084. It was stated that the subject enjoys group overdraft facilities, secured by the member’s guarantee. Utilisation of the overdraft is stated to fluctuate.
DATE REGISTERED
31 January 2005
Registration Certificate Number 2005/002750/07
The subject originally commenced as a close corporation that had been trading since 1996, Registration Certificate Number 1996/024830/23.
VAT NUMBER
4830131282
MAJOR OPERATION
MAJOR SUPPLIERS
The subject imports marble slabs from
STRATEGIC LOGISTICS
UNION TILES
LANLINK
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Industry in general e.g. building contractors
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
It was stated that the subject exports the finished product worldwide
TOTAL EMPLOYEES
70 - 100
OTHER PREMISES
None
OWNED OR LEASED
The head office premises are reported to be owned by D'AGNOLO PROPERTIES (PTY) LTD, bonded in favour of First National Bank for an outstanding amount of R3 000 000.
Full financial information was not forthcoming from respondents at the company, nevertheless the following historical estimated financial situation was submitted as at September 2006:
STOCK R10 000 000
DEBTORS R 5 000 000
CREDITORS R 4 000 000
MEMBERS LOANS Nil
TURNOVER per month R 5 000 000
AUDITORS
VILLIER MARTIN & ASSOCIATES
FINANCIAL YEAR END
FEBRUARY
INSURANCE BROKERS
COMEX
TRADE REFERENCES
SEPTEMBER 2006
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2002 R700
000 R400 000 45 days 45 days Excellent
2. 06/1993 do
not disclose figures 30
days 30 days Very good
3. 5 yrs R50
000 R50 000 30 days 30 days Good
TRADE REFERENCES
SEPTEMBER 2006
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Old acc declined declined 30 days 30
days Very Good
2. 2002 R900
000 R400 000 45 days 45 days Excellent
c/l
3. 6 yrs declined R45 000 30 days 30
days Good
COMMENTS
This is a company that originated as a close corporation. The subject is meeting commitments timeously, however, we have not traced dealings to an extent of US$10 000 000. We would prefer to see a far lesser amount 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%)