MIRA
INFORM REPORT
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Report Date : |
21.05.2007 |
IDENTIFICATION DETAILS
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Name : |
OLAM |
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Registered Office : |
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Country : |
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Date of Incorporation : |
22 August 2000 |
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Com. Reg. No.: |
2000/020922/07 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importers and distributors of food commodities |
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
OLAM
PHYSICAL ADDRESS
La
Kwa-Zulu
POSTAL ADDRESS
4019
TELEPHONE NUMBER: 031 566 5499
FAX NUMBER: 031 566 6499
It was stated by respondents that the subject moved from the
premises at
SHAREHOLDERS
100% OLAM INTERNATIONAL
(registered in
ASSOCIATE COMPANIES
CARAWAY FOODS INTERNATIONAL
DIRECTORS
S G VERGHESE D.O.B. 591119
BANKERS
ABSA BANK, Business Centre Branch, Account Number: 4053539870. It was stated that the subject enjoys overdraft facilities to an extent of R8 million, secured by a cession of debtors. Utilisation is stated to fluctuate.
DATE REGISTERED
22 August 2000
Registration Certificate Number: 2000/020922/07
VAT NUMBER
4810192569
MAJOR OPERATION
Importers and distributors of food commodities
MAJOR SUPPLIERS
The subject imports 80% of its supplies and deals locally with:
DLA GRAIN DISTRIBUTORS
JUMBOS
ALIANCE MILLING
VALBROS
FREE PORT SHIPPING
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Pre-packers
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
None
TOTAL EMPLOYEES
37
OTHER PREMISES
The subject has a factory in
OWNED OR LEASED
The premises are reported to be leased
AUTHORISED SHARE
CAPITAL
R1000 divided into 1000 ordinary shares of R1 each
ISSUED SHARE CAPITAL
R100
The following estimated financial situation was submitted:
STOCK R 2 800 000
DEBTORS R 8 000 000
CASH R 5 000
CREDITORS R 5 400 000
LOANS R 1 600 000
TURNOVER per month R17 700 000
AUDITORS
ERNST & YOUNG
YEAR END
JUNE
INSURANCE BROKERS
Insured through the holding company
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 5 yrs R200 000 R23 000 30 days 30 days Good
2. 4-5 yrs confidential confidential 30 days 30 days Good
3. 4 yrs open
acc R350 000 30 days 30 days Very
Good
COMMENTS
This is an established business meeting its commitments timeously. The subject is considered equal to its normal business engagements.
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%)