MIRA
INFORM REPORT
|
Report Date : |
29.05.2007 |
IDENTIFICATION DETAILS
|
Name : |
RAIEL
MARKETING (PTY) LTD |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
21/04/97 |
|
|
|
|
Com. Reg. No.: |
1997/005945/07 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Marketing of cupboard, furniture accessories,
handles, hinges etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
COMPANY NAME
RAIEL
MARKETING (PTY) LTD
PHYSICAL ADDRESS
MALMESBURY
POSTAL ADDRESS
MALMESBURY
7300
TELEPHONE NUMBER: 022
482 7400
FAX NUMBER: 022
482 1496
SHAREHOLDERS
100% RAIEL
GROUP TRUST
ASSOCIATE COMPANIES
RAIEL MARKETING GAUTENG (PTY) LTD
RAIEL MARKETING
RAIEL MARKETING P E (PTY) LTD
LIGNA TRUST (property owning company)
DIRECTORS
R LE ROUX
BANKERS
NEDBANK, Malmesbury Branch, Account Number
1285044010. It was stated that the
subject enjoys overdraft facilities to an extent of R1 750 000, secured by the
Trust. Utilisation is stated to
fluctuate.
DATE REGISTERED
21/04/97
Registration Certificate Number 1997/005945/07
VAT NUMBER
4540171404
MAJOR OPERATION
Marketing of cupboard, furniture accessories, handles,
hinges etc.
MAJOR SUPPLIERS
NDE STEEL
A & D DISTRIBUTORS
BAILY LUMBER
HULLETS HYDRO
MAJOR CUSTOMERS OR BUSINESS SECTORS
Furniture manufacturers, DIY and hardware retailers
AREA OF DISTRIBUTION AND SELLING
EXPORTS
TOTAL EMPLOYEES
60
OTHER PREMISES
None, however the group has offices in P.E.,
OWNED OR LEASED
The head office premises are owned by the associate
property owning Trust in which R LE ROUX is the Trustee. The
ISSUED SHARE CAPITAL
R100
The following estimated financial situation was
submitted:
STOCK R9
000 000
FIXED ASSETS R3
000 000
LOANS Nil
TURNOVER per month R4
600 000
AUDITORS
TENK LOUBSER & ASSOCIATES
YEAR END
FEBRUARY
INSURANCE BROKERS
HYSAMEN / THEBE RISK
TRADE REFERENCES –
AUGUST 2005
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Old R700
000 R700 000 30 days 30 days Very
Good
2. 2003 R400
000 R400 000 30 days 30 days Very
Good
c/l
3. 6 yrs R200
000 R 50 000 - 30
days 30 days Very good
R200 000
CURRENT TRADE
REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 1998 declined declined 30 days 57
days Good
2. Last bought in December 2005 and still
has an amount of R76 000 outstanding
3. 2003 R400
000 R100 000 - 30 days 30
days Very good
R300
000
4. 8 yrs+ declined declined 30 days 30
days Good
COMMENTS
This is an
established company meeting its commitments over terms at times. We have not traced dealings to an extent of
US10 000 000 and would prefer to see a far lesser amount dealt with on a letter
of credit basis.
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)