MIRA
INFORM REPORT
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Report Date : |
26.10.2007 |
IDENTIFICATION DETAILS
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Name : |
BAJ X-PRESS PRINT CC |
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Registered Office : |
Unit 6, |
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Country : |
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Date of Incorporation : |
17.10.1995 |
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Com. Reg. No.: |
1995/044275/23 |
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Legal Form : |
Limited Liability |
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Line of Business : |
Company is engaged in Litho printing and stationers |
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 : |
Usually Correct |
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Litigation : |
Clear |
COMPANY NAME
BAJ X-PRESS PRINT CC
ADDRESS
PHYSICAL ADDRESS
Unit 6
Mineral Crescent
Crown Ext 3
POSTAL ADDRESS
SOUTHDALE
2135
TELEPHONE NUMBER : 011 830 0349
FAX NUMBER : 011 837 9923
MEMBERS
50% A GOSAI
50% B M PATEL
ASSOCIATE COMPANIES
None
BANKERS
ABSA BANK, Southdale branch, account number: 4045523388. It was stated that the subject does not require overdraft facilities as credit balances are maintained at the bank.
DATE REGISTERED
17 October 1995
Registration Certificate Number: 1995/044275/23
VAT NUMBER
4290155532
MAJOR OPERATION
Litho printing and stationers
MAJOR SUPPLIERS
PAPERCOR
MARMEL LABELS
MEGA PAPER
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Corporates, public and industry in general
AREA OF
DISTRIBUTION AND SELLING
EXPORTS
Overseas on occasion
TOTAL EMPLOYEES
6
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be leased
MEMBERS
CONTRIBUTION
R100
The following estimated financial situation was submitted:
STOCK R40 000 - R 45 000
DEBTORS fluctuates
FIXED ASSETS R 500 000
CREDITORS fluctuates
TURNOVER per month R75 000 – R100 000
AUDITORS
C K HARI & COMPANY
YEAR END
FEBRUARY
INSURANCE BROKERS
RELIANCE
TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2000 R45 000 R 5 000 - 30 days 30 days Excellent
R30 000
2. 8 yrs open R10 000 - 30 days 30 days Good
R15 000
3. 2 yrs R25 000 R10 000 - 60 days 60 days Good
R15 000
COMMENTS
This is an established business meeting its commitments timeously. We have not traced dealings to an extent of US$1 000 000 DA and would prefer to see a far lesser figure on a well spread and secured basis.
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%)