MIRA
INFORM REPORT
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Report Date : |
05.10.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
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Country : |
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Date of Incorporation : |
17 October 1963 |
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Com. Reg. No.: |
1963/005738/07 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Clearing and forwarding agents (airfreight and seafreight) and warehousing |
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
PHYSICAL ADDRESS
POSTAL ADDRESS
8000
TELEPHONE NUMBER: 021 462 4190
FAX NUMBER: 021 462 4435
SHAREHOLDERS
100% TRADE-OFF 98 (PTY) LTD
The Shareholding
changed in 2001 and was previously 100%
ASSOCIATE COMPANIES
BLU PETA PROPERTIES (PTY) LTD
TRADE-OFF 116 (PTY) LTD (property owning company)
DIRECTORS
R M
M BRAIN ID No. 4611215117086
P NAIDOO ID No. 6706235782089
S M FRIEDMANN ID No. 5807155030086
BANKERS
ABSA BANK, Heerengracht branch. The subject does not require overdraft facilities, however, has an invoice discounting facility.
DATE REGISTERED
17 October 1963
Registration Certificate Number: 1963/005738/07
VAT NUMBER
4280101348
MAJOR OPERATION
Clearing and forwarding agents (airfreight and seafreight) and warehousing
MAJOR SUPPLIERS
SACD
PORTNET
MAJOR CUSTOMERS OR
BUSINESS SECTORS
General industry
AREA OF
DISTRIBUTION AND SELLING
EXPORTS
Worldwide
TOTAL EMPLOYEES
162
OTHER PREMISES
The subject has a warehouse in
OWNED OR LEASED
The head office premises are reported to be owned by BLU
PETA PROPERTIES (PTY) LTD. The
ISSUED SHARE
CAPITAL
Nominal
Full financial information was not forthcoming from respondents at the subject and outside authorities were unable to assist in this regard.
AUDITORS
HOBS DAVID INC
YEAR END
FEBRUARY
INSURANCE BROKERS
HERITAGE
TRADE REFERENCES –
MAY 1995
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 8 yrs R200 000 R100 000 30 days 30 days Very good
2. 1992 R 7 000 R 200 - 30 days 30 days Very good
R 500
3. 5 yrs R 10 000 R 4 000 30 days 30 days Very good
CURRENT TRADE
REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Aug 1998 open acc R170 000 30 days 30 days Good
2. Do not give trade references.
COMMENTS
This is an
established business meeting its obtainable commitment timeously. We have not traced dealings to an extent of
US$1 000 000 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%)