MIRA
INFORM REPORT
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Report Date : |
15.05.2007 |
IDENTIFICATION DETAILS
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Name : |
A G X IMPORT AND EXPORT (PTY) LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
28 February 2003 |
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Com. Reg. No.: |
2003/004614/07 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importers and distributors of food products |
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
A G X IMPORT AND EXPORT (PTY) LTD
PHYSICAL ADDRESS
POSTAL ADDRESS: P O Box 12919
TRAMSHED
0126
TELEPHONE NUMBER: 012 327 6344
FAX NUMBER: 012 327 6232
SHAREHOLDERS
100% S M Q KADER
ASSOCIATE COMPANIES
None
DIRECTORS
S M Q KADER ID No. 7111095092084
BANKERS
STANDARD BANK West End Pretoria, Account Number 011420855. The subject does not require overdraft facilities as credit balances are maintained at the bank.
DATE REGISTERED
28 February 2003
Registration Certificate Number: 2003/004614/07
VAT NUMBER
4720206236
MAJOR OPERATION
Importers and distributors of food products e.g. canned and frozen foods.
MAJOR SUPPLIERS
The subject imports 95% of its supplies and deals locally with:
HOXIES
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Wholesalers
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
None
TOTAL EMPLOYEES
5
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be leased.
AUTHORISED SHARE
CAPITAL
R1 000 divided into 1000 ordinary shares of R1 each
ISSUED SHARE CAPITAL
R100
The following estimated financial situation was submitted:
STOCK R1 200 000
DEBTORS R1 000 000
CREDITORS R 800 000
LOANS R 500 000
TURNOVER per month R 550 000
AUDITORS
A MOOSA & CO
YEAR END
FEBRUARY
INSURANCE BROKERS
JAMES GARDNER
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 2003 R1 000 000 R500 000 30 days 30 days Very good
COMMENTS
This is a relatively established business which is not a general credit seeker locally. The subject is meeting its local 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%)