MIRA
INFORM REPORT
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Report Date : |
09.05.2007 |
IDENTIFICATION DETAILS
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Name : |
ALLBRO INDUSTRIES (PTY) LTD |
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Registered Office : |
121, |
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Country : |
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Date of Incorporation : |
20 February 1998 |
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Com. Reg. No.: |
1998/003057/07 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Electrical and mechanical engineers. |
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
ALLBRO INDUSTRIES (PTY) LTD
PHYSICAL ADDRESS
121,
ANDERBOLT
Boksburg
POSTAL ADDRESS
DUNSWART
1508
TELEPHONE NUMBER: 011 894 8341
FAX NUMBER: 011 918 1072
SHAREHOLDERS
J A ALLAN
R J ALLAN
M SMITH
ASSOCIATE COMPANIES
ALLTRAVEL SERVICES (PTY) LTD
ALLBRO INDUSTRIAL MARKETING (PTY) LTD
DIRECTORS
J A ALLAN ID No. 4305135072089
R J ALLAN (Jnr) ID No. 7406255187082
M SMITH ID No. 6912030346084
BANKERS
NEDBANK, Dunswart Branch. It was stated that the subject enjoys overdraft facilities, secured by a cession of debtors. Utilisation is stated to be nil as normally credit balances are maintained.
DATE REGISTERED
20 February 1998
Registration Certificate Number 1998/003057/07
VAT NUMBER
4710173164
MAJOR OPERATION
Electrical and mechanical engineers.
MAJOR SUPPLIERS
CHIMLUNG
NCS RESINS
SCOTT BADER
PROTEA INDUSTRIAL CHEMICALS
EXODOR
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Electrical industry
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
TOTAL EMPLOYEES
150
OTHER PREMISES
The subject is reported to have site office in Boksburg North.
OWNED OR LEASED
The premises are reported to be owned by ALGEHA PROPERTIES (PTY) LTD, a property owning company owned by J A Allan. The value of the premises was unknown to respondents at the subject.
ISSUED SHARE CAPITAL
R100
The following estimated financial situation was submitted:
DEBTORS R3 000 000
CREDITORS R1 000 000
LOANS Nil
TURNOVER per month R2 500 000
AUDITORS
PHILIP SHIFREN & CO,
YEAR END
FEBRUARY
INSURANCE BROKERS
INSURITE BROKERS
TRADE REFERENCES –
MAY 2006
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 10 yrs R400 000 R 40 000 30 days 30 days Very good
R160 000
2. 1999 declined declined 30 days 30 days Very good
2.5%
3. 6 yrs R130 0000 R100 000 30 days 30 days Very good
CURRENT TRADE
REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Do not give trade references.
2. 2001 R40 000 R 10 000 30 days 30 days Good
3. 5 yrs open acc R200 000- 30 days 30 days Excellent
R300 000
4. 8 yrs open acc R 50 000- 30 days 30 days Very good
R200 000
COMMENTS
This is an established business meeting its commitments timeously. We have not traced dealings to an extent of US$1 000 000 and would prefer to see a lesser figure well spread.
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%)