MIRA
INFORM REPORT
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Report Date : |
24.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
MAKHRO-AGRO (SA) (PTY) LTD |
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Registered Office : |
21 Viben Street, Brackenfell, Cape Town, Western Cape |
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Country : |
South Africa |
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Date of Incorporation : |
17 March 1994 |
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Com. Reg. No.: |
1994/001973/07 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading in agricultural chemicals |
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 : |
No Complaints |
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Litigation : |
Clear |
COMPANY NAME
MAKHRO-AGRO (SA) (PTY) LTD
PHYSICAL ADDRESS
21 Viben Street
Brackenfell
CAPE TOWN
Western Cape
POSTAL ADDRESS
P O Box 498
BRACKENFELL
7561
TELEPHONE NUMBER: 021 982 1460
FAX NUMBER: 021 982 5810
SHAREHOLDERS
100% P M BURGER
ASSOCIATE COMPANIES
None
DIRECTORS
P M BURGER (Sole director)
BANKERS
ABSA BANK, Commercial branch, Bellville. It was stated that the subject does not require an overdraft facility as normally credit balances are maintained.
DATE REGISTERED
17 March 1994
Registration Certificate Number 1994/001973/07
The subject was commenced as a new business.
VAT NUMBER
4890143714
MAJOR OPERATION
Trading in agricultural chemicals
MAJOR SUPPLIERS
The subject imports supplies and deals locally with:
UTI
VOLCANO AGRO Durban
GAP CHEMICALS Durban
COMBAT CHEMICALS
NIALCOR
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Agricultural sector
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
Zimbabwe, Namibia and Kenya.
TOTAL EMPLOYEES
8
OTHER PREMISES
None
OWNED OR LEASED
Leased
AUTHORISED SHARE CAPITAL
R100 divided into 100 ordinary shares of R1 each
ISSUED SHARE CAPITAL
R100
Full financial information was not forthcoming from respondents at the company, however it was stated that debtors are R700 000 – R800 000 per month; creditors fluctuate from overseas and turnover per annum is R6 million.
AUDITORS
IMMELMAN & FERREIRA
YEAR END
MARCH
INSURANCE BROKERS
IMPAC INSURANCE
TRADE REFERENCES – APRIL 2006
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 5 yrs R2 000 000 R2 000 000 60 days 60
days Excellent
2. 6 yrs R 100 000 R 100 000 30
days 30 days Very good
3. 5 yrs R 500 000 R 500 000 30
days 30 days Excellent
CURRENT TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Do not give trade
references.
2. 5 yrs declined R1 100 000 60
days 60 days Good
3. 10 yrs open R 150 000 60 days 60
days Good
R 200 000 seasonal
4. 6-7 yrs open R 100 000- 30 days 30
days Excellent
R1
000 000
COMMENTS
This is a well established company meeting commitments timeously. No adverse comments have been heard and the subject is considered equal to its normal business engagements. A figure of US$1 000 000 is more than the subject’s annual turnover and we would prefer to see a far lesser figure well spread. The lack of full financial information should be borne in mind.
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%)