MIRA
INFORM REPORT
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Report Date : |
26.10.2007 |
IDENTIFICATION DETAILS
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Name : |
BASTIAN TRADING CC |
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Registered Office : |
73, Sandon Manor, |
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Country : |
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Date of Incorporation : |
6 November 1997 |
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Com. Reg. No.: |
1997/059378/23 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Export of ferrous and non ferrous metals into |
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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Status : |
New & Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
COMPANY NAME
BASTIAN TRADING CC
ADDRESS
PHYSICAL ADDRESS:
73 Sandown Manor
Sandton
POSTAL ADDRESS:
As above
TELEPHONE NUMBER : 011 883 9400
FAX NUMBER :
011 883 9400
CELLULAR NUMBER : 084 518 9428
MEMBERS
100% P
SINGH (Mrs) D.O.B. 480718
ASSOCIATE COMPANIES
None
BANKERS
STATE BANK OF INDIA, Rosebank branch and ABSA
BANK,
DATE REGISTERED
6 November 1997
Registration Certificate Number 1997/059378/23
A dormant company was utilised for active operations
to commence in 2003.
It was stated by Mrs Singh that she has been
travelling backwards and forwards to
MAJOR OPERATION
Export of ferrous and non ferrous metals into
MAJOR SUPPLIERS
Declined by respondents as her sources of
supply constitute her market edge
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Major trading companies
AREA OF
DISTRIBUTION AND SELLING
EXPORTS
TOTAL EMPLOYEES
Only the Member, however, it was stated that the
subject has a profit sharing partner, the name of whom was not forthcoming.
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be leased
MEMBERS
CONTRIBUTION
R1 000
Full financial information was not forthcoming
from respondents at the subject. It was,
however, stated that the subject only deals on a back to back letter of credit
basis.
AUDITORS
BIZ IQ TAX SERVICES, Northcliff
YEAR END
FEBRUARY
INSURANCE BROKERS
AIG
TRADE REFERENCES
NOT AVAILABLE
COMMENTS
This is a comparatively newly operative
business whose suppliers were declined by respondents. In view of the lack of financial information
and a payment pattern, we have no basis upon which to recommend credit dealings. It is suggested that all dealings be on a
letter of credit 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%)