MIRA
INFORM REPORT
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Report Date : |
05.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SHAN’S TRANSPORT AND LOGISTICS AGENCY CC |
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Registered Office : |
49 Woodlands Estate, Smuts Drive, Halfway Gardens,
Midrand, |
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Country : |
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Date of Incorporation : |
11 April 2002 |
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Com. Reg. No.: |
2002/027377/23 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Buying and selling as well as metal trading. |
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
SHAN’S TRANSPORT AND LOGISTICS AGENCY CC
PHYSICAL ADDRESS
49 Woodlands Estate
HALFWAY GARDENS
Midrand
POSTAL ADDRESS
1686
TELEPHONE NUMBER: 011 312 1952
FAX NUMBER: 011 312 1952
EMAIL ADDRESS: trevor@shans.co.za
MEMBERS
100% B PILLAY
ASSOCIATE COMPANIES
SHAN’S METAL TRADING (PTY) LTD, which company is being registered at CIPRO
BANKERS
STANDARD BANK, Midrand Branch, Account Number 201131722. It was stated that the subject enjoys overdraft facilities to an extent of R300 000, secured by personal guarantees of the member. Utilisation is stated to be full at times.
DATE REGISTERED
11 April 2002
Registration Certificate Number: 2002/027377/23.
The subject was commenced as a new business.
VAT NUMBER
4930217759
MAJOR OPERATION
Buying and selling as well as metal trading
MAJOR SUPPLIERS
RAIL ROAD AFRICA
B G SCRAP Brakpan
MAIN SCRAP
CARGO MOVERS
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Steel Mills
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
TOTAL EMPLOYEES
3
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be the private home of B PILLAY, who is married in community of property. The value of the premises is stated to be in the region of R1 million, bonded in favour of STANDARD BANK to an extent of R600 000. It was stated that B PILLAY has recently bought a second property in Kyalami where he will be moving to and these premises are valued in the region of R3 million, bonded to an extent of R140 000.
MEMBERS CONTRIBUTION
R20 000
The following estimated financial situation was submitted:
STOCK in approximately 25 containers at Cargo Movers in City Deep
where the containers are stored R 1 500 000
DEBTORS R 1 400 000
CREDITORS R 300 000
OVERDRAFT R 200 000
MEMBERS LOANS R 300 000 – R 4 000 000
TURNOVER for 2006 financial year R14 000 000 – R15 000 000
TURNOVER estimated for 2007 financial year R20 000 000 – R25 000 000
AUDITORS
ACCOUNTING EXCELLENCE Woodmead
YEAR END
FEBRUARY
INSURANCE BROKERS
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 9 mths open acc declined 30 days 30 days Good
2. 2005 open acc R 20 000- 30 days 30 days Good
R 100 000
3. 2 yrs open acc R1 300 000 30 days 30 days Excellent
COMMENTS
This is an
established business meeting commitments timeously. No adverse comments have been heard. 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%)