MIRA
INFORM REPORT
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Report Date : |
09.05.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Unit 17, |
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Country : |
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Date of Incorporation : |
13 September 2000 |
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Com. Reg. No.: |
2000/054950/23 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Imports and distributors of exotic décor |
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 |
note
On investigation it was established that the correct registered name of the subject is BALI WAREHOUSE CC trading as SPACES & PLACES, which report should be consulted.
COMPANY NAME
TRADING NAME
SPACES & PLACES
PHYSICAL ADDRESS
Unit 17
Kwa-Zulu
POSTAL ADDRESS
4301
TELEPHONE NUMBER: 031 539 7672
FAX NUMBER: 031 539 7672
MEMBERS
50% I A
50% J D VILJOEN ID No. 5406150048083
ASSOCIATE COMPANIES
MIVONNE PROPERTY CC (property owning company)
BANKERS
STANDARD BANK, Durban North Branch. It was stated that the subject enjoys overdraft facilities. Utilisation is stated to be nil as credit balances are normally maintained at the bank.
DATE REGISTERED
13 September 2000
Registration Certificate Number: 2000/054950/23
VAT NUMBER
4060190354
MAJOR OPERATION
Imports and distributors of exotic decor
MAJOR SUPPLIERS
The subject imports 95% of its supplies and deals locally with:
SAFCOR PANALPINA
WORLDWIDE LOGISTICS
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Retailers
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
None
TOTAL EMPLOYEES
4
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be owned by the associate property owning company
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
MICHAEL OGDEN
YEAR END
JUNE
INSURANCE BROKERS
HTI INSURANCE
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. Do not give trade references
2. 3 mths R100 000 R28 000 30 days 30 days Very good
COMMENTS
This is an established business. The subject is meeting its obtainable commitment timeously. We have not traced dealings to an extent of US$1 000 000 and 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%)