MIRA
INFORM REPORT
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Report Date : |
2nd March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
ALEXA
TRADING (PTY) LTD |
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Registered Office : |
45
Mountain View Avenue, Morningside, Durban, Kwazulu Natal |
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Country : |
South Africa |
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Date of Incorporation : |
25.03.1998 |
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Com. Reg. No.: |
1998/005749/07 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading, import
and sale of goods, garments, furniture, tiles, footwear, etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$1 000
000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY
NAME
ALEXA
TRADING (PTY) LTD
TRADING
DIVISIONS
ALEXA
GARMENTS
ALEXA TILES
ALEXA
FOOTWEAR
ALEXA
FURNITURE
PHYSICAL
ADDRESS
45 Mountain
View Avenue
MORNINGSIDE
Durban
Kwazulu
Natal
POSTAL
ADDRESS
P O Box
70645
OVERPORT
CITY
4067
TELEPHONE
NUMBER
(031)
207-3845
FAX
NUMBER
(031)
209-7402
SHAREHOLDERS
90% R RUNGTA
It was
stated that Mrs M Abrahams is being appointed at present as a 10% shareholder
and director.
ASSOCIATE
COMPANIES
None
DIRECTORS
R RUNGTA Date of birth: 8 October 1962
MRS M
ABRAHAMS is being appointed at present.
BANKERS
STANDARD
BANK, Florida Road, Durban. It was
stated that the subject enjoys overdraft facilities to an extent of R125 000,
unsecured. Utilisation of the overdraft
is stated to be nil as credit balances are maintained.
DATE
REGISTERED
25 March
1998
Registration
Certificate Number 1998/005749/07
VAT
NUMBER
4320184494
MAJOR
OPERATION
Trading, import
and sale of goods, garments, furniture, tiles, footwear, etc.
MAJOR
SUPPLIERS
The subject
imports all of its supplies through the following shippers on a COD basis.
DELMAS
MSE
We were
unable to obtain telephone numbers for these suppliers.
MAJOR
CUSTOMERS OR BUSINESS SECTORS
Chain
stores, Mr Price, Tile Afrika, etc.
AREA
OF DISTRIBUTION AND SELLING
South
Africa
EXPORTS
Namibia,
Mozambique and Botswana.
TOTAL
EMPLOYEES
3
OTHER
PREMISES
The subject
is reported to have a warehouse in Rossburgh.
OWNED
OR LEASED
Leased
AUTHORISED
SHARE CAPITAL
R1 000
divided into 1 000 ordinary R1 shares.
ISSUED
SHARE CAPITAL
R100
The
following estimated financial situation was submitted:
STOCK R 2 000 000
DEBTORS the subject deals mainly on
a COD basis R 2 000 000
FIXED ASSETS None
CREDITORS None
TURNOVER per
annum R11 000 000
Anticipated for 2006/2007 R24
000 000
AUDITORS
NAGAM & ASSOCIATES, Durban
YEAR
END
FEBRUARY
INSURANCE
BROKERS
GLENRAND MIB
TRADE
REFERENCES
Not
available in view of the fact that the subject only purchases on a COD basis.
COMMENTS
This is an established company that purchases
on a COD basis locally and imports all other supplies. We have no basis upon which to recommend
credit dealings to an extent of US$1 000 000 DA and would prefer to see all
dealings on a letter of credit 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%)
PRIVATE & CONFIDENTIAL : This information
is provided to you at your request, you having employed MIPL for such purpose.
You will use the information as aid only in determining the propriety of giving
credit and generally as an aid to your business and for no other purpose. You
will hold the information in strict confidence, and shall not reveal it or make
it known to the subject persons, firms or corporations or to any other. MIPL
does not warrant the correctness of the information as you hold it free of any
liability whatsoever. You will be liable to and indemnify MIPL for any loss,
damage or expense, occasioned by your breach or non observance of any one, or
more of these conditions