MIRA
INFORM REPORT
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Report Date : |
05.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SPICE AND HERB IMPORTERS CC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
30 May 2001 |
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Com. Reg. No.: |
2001/035286/23 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Importers and distributors of herbs and spices |
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 : |
New Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
SPICE AND HERB IMPORTERS CC
PHYSICAL ADDRESS
Sebenza
EDENVALE
POSTAL ADDRESS
Postnet
Private Bag X1
EDENGLEN
1613
TELEPHONE NUMBER: 011 524 0038
FAX NUMBER: 011 609 1564
MEMBERS
50% W A LASCH ID
No. 6905280041082
50%
ASSOCIATE COMPANIES
None
BANKERS
NEDBANK, Isando Branch. It was stated that the subject enjoys overdraft facilities, secured by the personal guarantees of the Members. Utilisation is stated to be nil to partial.
DATE REGISTERED
30 May 2001
Registration Certificate Number: 2001/035286/23
The subject utilised a dormant company for registration purposes and commenced active operations in February 2007
VAT NUMBER
4030235370
MAJOR OPERATION
Importers and distributors of herbs and spices
MAJOR SUPPLIERS
The subject imports most of its supplies and deals locally with:
SAXPORT
DUZI LOGISTICS
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Wholesalers and retailers
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
None
TOTAL EMPLOYEES
7
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 company and outside authorities were unable to assist in this regard.
AUDITORS
BEN MILNERS
YEAR END
FEBRUARY
INSURANCE BROKERS
UNKNOWN
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. Too new to comment
2. Too new to comment
COMMENTS
This is a very new
business. We have not traced dealings to
an extent of US$1 000 000 and in view of the infancy of the concern would
prefer to see all dealings on a letter of credit basis until the subject is
better established.
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%)