MIRA
INFORM REPORT
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Report Date : |
09.05.2007 |
IDENTIFICATION DETAILS
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Name : |
FOUR TO FORTUNE MARKETING CC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
9 January 1999 |
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Com. Reg. No.: |
1999/051286/23 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Importing of raw materials and finished goods being plastics, paints (pigments), stabilisers, etc. The subject also manufactures plastics and paints |
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
FOUR TO FORTUNE MARKETING CC
TRADING NAME
PNS INTERNATIONAL
PHYSICAL ADDRESS
SELBY
POSTAL ADDRESS
2137
TELEPHONE NUMBER: 011 493 0225
FAX NUMBER: 011 493 1238
CELL NUMBER: 083 951 8446
It should be noted that the subject moved from
It was stated that there is a problem with the fax line and the main telephone number should be used for faxing.
MEMBERS
100% E M RADEBE ID No. 6104285691089
ASSOCIATE COMPANIES
NEW AGE SPECIALITY CHEMICALS (PTY) LTD in which business E M RADEBE has just recently bought out his partner with effect from February 2007.
BANKERS
FIRST NATIONAL BANK, City Branch. It was stated that that the subject enjoys overdraft facilities to an extent of R300 000, secured by a cession of debtors. Utilisation is stated to be occasional as credit balances are normally maintained at the bank.
DATE REGISTERED
9 January 1999
Registration Certificate Number : 1999/051286/23
VAT NUMBER
4410189429
MAJOR OPERATION
Importing of raw materials and finished goods being plastics, paints (pigments), stabilisers, etc. The subject also manufactures plastics and paints
MAJOR SUPPLIERS
The subject imports supplies from
DAVCHEM
SUNCRYL
XENA CHEMICALS
MAJOR CUSTOMERS OR
BUSINESS SECTORS
SA COATERS; EURO AFRICA; GOODYEAR; NEW COTE; and other companies that make tarpaulines
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
TOTAL EMPLOYEES
10
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be leased
MEMBERS CONTRIBUTION
R100
The following estimated financial situation was submitted:
STOCK R 800 000
DEBTORS R 100 000
CASH R90 000 – R 100 000
FIXED ASSETS R1 500 000
CREDITORS R30 000 – R 40 000
LONG TERM LIABILITIES Nil
LOANS +R 800 000
TURNOVER per month R150 000 – R 200 000
AUDITORS
Changing at present
YEAR END
FEBRUARY
INSURANCE BROKERS
INDWE / AUTO & GENERAL
TRADE REFERENCES:
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 4 months declined declined 30 days 30 days Good
2. 2006 open acc declined C O D C O D Good
3. 6 months R20 000 R 4 000- 30 days 30 days Average
R 10 000
COMMENTS
This is a small business meeting its commitments reasonably. The subject imports substantially. We have not traced dealings to an extent of US$15 000 000 and would prefer to see far lesser 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%)