MIRA
INFORM REPORT
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Report Date : |
07.10.2007 |
IDENTIFICATION
DETAILS
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Name : |
K CARRIM BUILDERS HARDWARE (PTY) LTD |
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Registered Office : |
159 up to 171 Boom Street, Pretoria, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
10 August 1976 |
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Com. Reg. No.: |
1976/002783/07 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Suppliers of all types of building equipment including tools, hardware, etc |
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
K CARRIM BUILDERS HARDWARE (PTY) LTD
TRADING NAME
K CARRIM DISCOUNT BUILDERS HYPER
PHYSICAL ADDRESS
159 up to 171 Boom Street
PRETORIA
Gauteng
POSTAL ADDRESS
P O Box 46036
BELLE OMBRE
0142
TELEPHONE NUMBER: 012 323 1316
FAX NUMBER: 012 323 2173
SHAREHOLDERS
50% Z E CARRIM
50% A B CARRIM
The shareholding changed in 1999 and was previously 50% E CARRIM (father), 24% Z CARRIM, 24% A B CARRIM and 2% comprised unallocated shares.
ASSOCIATE COMPANIES
VERONA INVESTMENTS (PTY) LTD
K E SONS INVESTMENTS (PTY) LTD
SHAMSHA INVESTMENTS (PTY) LTD
VOCO TRADE 19 (PTY) LTD
Plus approximately 30 other companies.
DIRECTORS
Z E CARRIM
A B CARRIM (brother)
BANKERS
ABSA BANK, Ben Swart Street branch, Account Number: 4051633183. It was stated that the subject enjoys group overdraft facilities to an extent of R21.5 million, secured by the personal guarantees of the Directors. Utilisation is stated to be seldom to credit balances.
DATE REGISTERED
10 August 1976
Registration Certificate Number: 1976/002783/07
VAT NUMBER
4050102872
MAJOR OPERATION
Suppliers of all types of building equipment including tools, hardware, etc
MAJOR SUPPLIERS
COBRA WATERTECH East Rand
DOORWISE Johannesburg
EVERITE Johannesburg
W H SAFFER & CO Johannesburg
ROLLCO Johannesburg
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Building industry and home owners
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
On occasion to African countries
TOTAL EMPLOYEES
250 in the Group.
OTHER PREMISES
The subject is reported to have a warehouse in Hermanstad, a branch in Menlyn and branches in Fourways and Centurion
OWNED OR LEASED
The premises are reported to be 50% owned by the company and 50% owned by the City Council of Pretoria.
AUTHORISED SHARE CAPITAL
R300 divided into 300 ordinary shares of R1 each
ISSUED SHARE CAPITAL
R98
The following estimated Group financial situation was submitted:
STOCK R 18 000 000
DEBTORS (60 days) R 30 000 000
FIXED ASSETS R100 000 000
CREDITORS R 15 000 000
OVERDRAFT fluctuates
TURNOVER per annum R150 000 000
TURNOVER per annum for the group R450 000 000
AUDITORS
PKF
YEAR END
FEBRUARY
INSURANCE BROKERS
URBAN INSURANCE
TRADE REFERENCES – MAY 2006
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 9 yrs R600
000 R200 000 30 days 30 days Very
good
2. 11 yrs R300
000 R150 000 30 days 30 days Excellent
3. 10 yrs do
not disclose figures 30
days 30 days Excellent
CURRENT TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 10 yrs R200
000 R70 000 - 30 days 30 days Very
good
R80
000
2. 7 yrs declined declined 30 days 30
days Good
3. 5 yrs open declined 30 days 30
days Good
COMMENTS
This is an established company meeting its commitments timeously. The subject is considered equal to US$1 000 000 spread over 90 days.
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. |
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%)