MIRA
INFORM REPORT
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Report Date : |
12.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
CAPE PAVING SUPPLIES CC |
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Registered Office : |
29 Patterson Road, North End, Port Elizabeth, Eastern Cape |
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Country : |
South Africa |
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Date of Incorporation : |
6.06.1988 |
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Com. Reg. No.: |
014943 / 23 |
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Legal Form : |
Private Company |
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Line of Business : |
Building material merchants |
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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Maximum Credit Limit : |
US $ 1 000 000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
CAPE PAVING SUPPLIES CC
PHYSICAL ADDRESS
29 Patterson Road
North End
PORT ELIZABETH
Eastern Cape
POSTAL ADDRESS
P O Box 2524
PORT ELIZABETH
6056
TELEPHONE NUMBER
041 484 4946 / 1059
FAX NUMBER
041 484 2754
MEMBERS
100% E P BOWKER
ASSOCIATE COMPANIES:
None
BANKERS
NEDBANK, Eastern Cape Business (Sidwell) branch, account number: 1276004311. It was stated that the subject enjoys overdraft facilities, unsecured. Utilisation is stated to be nil as credit balances are normally maintained at the bank.
DATE REGISTERED:
6 June 1988
Registration Certificate Number: 1988/014943/23
It was stated that the subject was registered to take over a well established private company that originated in 1971.
VAT NUMBER
4880101565
MAJOR OPERATION:
Building material merchants
MAJOR SUPPLIERS:
COROBRIK
MAZISTA
LEBENSLATE
ABE
MAJOR CUSTOMERS OR BUSINESS
SECTORS:
DIY industry and building contractors
AREA OF DISTRIBUTION AND SELLING
Eastern Cape and surrounds
EXPORTS
None
TOTAL EMPLOYEES
4 and the subject utilises casual staff
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be owned by the subject and valued in the region of R500 000, free of bond
MEMBERS CONTRIBUTION
R100
The following estimated financial situation was submitted:
STOCK R1 000 000
FIXED ASSETS R 500 000
TURNOVER per month R300 000 – R 500 000
AUDITORS
KPMG
YEAR END
FEBRUARY
INSURANCE BROKERS
GLENRAND MIB
TRADE REFERENCES – APRIL 2000:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Few yrs R 30 000 R30 000 30 days 30/35 days Good
2. 1994 R150 000 declined 30 days 30 days Good
3. Few yrs R 80 000 declined 30 days 30 days Very good
CURRENT TRADE REFERENCES:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. declined R130 000 R 30 000 - 30 days 30 days Very good
R 55 000
2. 4 yrs R180 000 R180 000+ 30 days 30 days Excellent
3. 5 yrs declined declined 30 days 30 days Good
COMMENTS:
This is an
established business meeting its commitments timeously. We have not traced dealings to an extent of
US$1 000 000 over DA terms and would prefer to see a far lesser amount spread
and secured.
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%)