MIRA
INFORM REPORT
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Report Date : |
29.05.2007 |
IDENTIFICATION DETAILS
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Name : |
POWER RUSH TRADING 31 CC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
20 November 2003 |
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Com. Reg. No.: |
2003/101023/23 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Sale of Persian carpets |
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 : |
Usually correct |
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Litigation : |
Clear |
COMPANY NAME
POWER RUSH TRADING 31 CC
TRADING NAME
PERISH CARPETS & KLIM
PHYSICAL ADDRESS
WALMER
POSTAL ADDRESS
WALMER
6065
TELEPHONE NUMBER: 041 581 7838
FAX NUMBER: 041
581 7838
MEMBERS
50% H KERMANSHAHI RAD ID No. 6403106237183
50% L KERMANSHAHI RAD (Mrs) ID No. 6605110008083
ASSOCIATE COMPANIES
None
BANKERS
NEDBANK, Walmer Branch. It was stated by respondents that the subject enjoys overdraft facilities, secured by the personal guarantees of the Members. Utilisation is stated to be nil to partial.
DATE REGISTERED
20 November 2003
Registration Certificate Number: 2003/101023/23
It was stated by respondents that the business commenced trading in April 2004.
VAT NUMBER
4700211636
MAJOR OPERATION
Sale of Persian carpets
MAJOR SUPPLIERS
The subject imports most of its supplies and deals with its own customs clearing in-house
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Public
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
None
TOTAL EMPLOYEES
4
OTHER PREMISES
It was stated by respondents that the subject will be
opening a branch in
OWNED OR LEASED
The premises are reported to be owned by the Members
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
O L ACCOUNTING
YEAR END
FEBRUARY
INSURANCE BROKERS
SANTAM
TRADE REFERENCES
NOT APPLICABLE
COMMENTS
This is a relatively established business which imports most of its supplies. We would prefer to see dealings on a secured basis in view of the lack of a payment pattern and financial information.
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%)