MIRA
INFORM REPORT
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Report Date : |
24.10.2007 |
IDENTIFICATION DETAILS
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Name : |
LEDGER FOOT WEAR MANUFACTURERS CC |
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Registered Office : |
Unit 1, |
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Country : |
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Date of Incorporation : |
31.05.1995 |
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Com. Reg. No.: |
1995/021889/23 |
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Legal Form : |
Limited Liability |
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Line of Business : |
Manufacturing of Foot Wear |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$1 000 000 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
COMPANY NAME
LEDGER FOOT WEAR MANUFACTURERS CC
ADDRESS
PHYSICAL ADDRESS:
Unit 1
New
Kwa-Zulu
POSTAL ADDRESS:
NEW
3620
TELEPHONE NUMBER : 031 705 7447
FAX NUMBER : 031 705 7449
MEMBERS
100% S HILDEBRAND ID No. 6004015033000
ASSOCIATE COMPANIES
None
BANKERS
NEDBANK, GTPO Department,
DATE REGISTERED
31 May 1995
Registration Certificate Number: 1995/021889/23
VAT NUMBER
4880151693
MAJOR OPERATION
Foot wear manufacturing
MAJOR SUPPLIERS
STROD MARKETING
LEATHER FINISHING PRODUCTS
SHORTLANDS PACKAGING
ANTEX
AVIOCEAN
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Chain stores such as Foschini and small retailers
AREA OF
DISTRIBUTION AND SELLING
EXPORTS
None
TOTAL EMPLOYEES
100
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be leased
MEMBERS
CONTRIBUTION
R100
The following estimated financial situation was submitted:
STOCK R1 200 000
DEBTORS R1 200 000
CREDITORS R 800 000
TURNOVER DECLINED
AUDITORS
KEVIN STONE
YEAR END
FEBRUARY
INSURANCE BROKERS
REID RAETZER
TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Old acc declined declined 30 days 30 days Very good
2. 8 yrs open R 4 000 30 days 45 days Average
3. 10 yrs declined R30 000 60 days 60 days Very good
COMMENTS
This is an established business meeting its smaller commitments over terms at times. 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. 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%)