MIRA INFORM REPORT

 

 

Report Date :

06.11.2007

 

IDENTIFICATION DETAILS

 

Name :

PROVAL ACTUATION SA (PTY) LTD

 

 

Registered Office :

P O Box 14998, Bredell, 1623

 

 

Country :

South Africa

 

 

Date of Incorporation :

19 September 2002

 

 

Com. Reg. No.:

2002/023508/07

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Sale of valves and actuators

 

 

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 :

Regular

 

 

Litigation :

Clear

 

 

COMPANY NAME

 

PROVAL ACTUATION SA (PTY) LTD

 

 

PHYSICAL ADDRESS

 

Unit 17

Gateway Park

Graniet Street

Jet Park

BOKSBURG

Gauteng

 

 

POSTAL ADDRESS

 

P O Box 14998

BREDELL

1623

TELEPHONE NUMBER: 011 397 8850

FAX NUMBER:                          011 397 8873

 

It was stated by the respondent that the subject moved from Unit 1, 27 Golden Drive, Benoni in 2003 and no longer utilises the postal address of P O Box 28215, Morchill Ext 8, Benoni.

 

 

SHAREHOLDERS

 

100%    R F GEYSER

 

 

ASSOCIATE COMPANIES

 

None

 

 

DIRECTORS

 

R F GEYSER                ID No. 5311105102087

 

 

BANKERS

 

STANDARD BANK, Germiston branch, account number: 020398565.  It was stated that the subject enjoys overdraft facilities, secured by the personal guarantee of the Shareholder.  Utilisation is stated to be seldom.

 

 

DATE REGISTERED

 

19 September 2002

Registration Certificate Number: 2002/023508/07

 

 

VAT NUMBER

 

4010204636

 

 

MAJOR OPERATION

 

Sale of valves and actuators

 

 

MAJOR SUPPLIERS

 

The subject imports most of its supplies and deals locally with:

 

ROHLIG GRINDROD

 

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

 

Mining, petrochemical and general industry

 

 

AREA OF DISTRIBUTION AND SELLING

 

South Africa

 

 

EXPORTS

 

None

 

 

TOTAL EMPLOYEES

 

13

 

 

OTHER PREMISES

 

None

 

 

OWNED OR LEASED

 

The premises are reported to be leased

 

The following estimated financial situation was submitted:

 

STOCK                                                             R500 000 – R1 000 000

DEBTORS                                                                               fluctuates

FIXED ASSETS                                                                    R   150 000

CREDITORS                                                                            fluctuates

LOANS Nil

TURNOVER per month                                       R500 000 – R1 000 000

 

 

AUDITORS

 

MBH FINANCIAL SERVICES

 

 

YEAR END

 

FEBRUARY

 

 

INSURANCE BROKERS

 

THOR FINANCIAL SERVICES

 

 

TRADE REFERENCES

 

            ACCOUNT        HIGHEST          AVERAGE         TERMS             PAYMENT         EXPERIENCE

            OPENED           CREDIT            CREDIT                                    PATTERN

 

1.         04/2007 R300 000          R  68 000 -        30 days             30 days             Good

                                    c/l         R300 000

 

 

COMMENTS

 

This is an established business that is not a general credit seeker locally.  We have not traced dealings to an extent of US$1 000 000 and would prefer to see a lesser figure well spread.

 

 

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.

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions