MIRA
INFORM REPORT
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Report Date : |
01.08.2007 |
IDENTIFICATION DETAILS
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Name : |
MRJ INTERNATIONAL TRADERS CC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
27 October 2004 |
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Com. Reg. No.: |
2004/110784/23 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Importer and exporter of clothing, fabrics and materials and manufacture ball fibre pillows. |
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
MRJ INTERNATIONAL TRADERS CC
PHYSICAL ADDRESS
Kwa-Zulu
POSTAL ADDRESS
DALBRIDGE
4014
TELEPHONE NUMBER: 031 301 2224 / 5 / 6
FAX NUMBER:
031 301 2230
MEMBERS
100% M RAMON ID
No. 6402285259083
ASSOCIATE COMPANIES
COPPERLAKE INVESTMENTS CC
BANKERS
FIRST NATIONAL BANK, Davenport Branch, account number: 62072682282. It was stated that the subject enjoys overdraft facilities secured by property and debtors. Utilisation is stated to fluctuate.
DATE REGISTERED
27 October 2004
Registration Certificate Number: 2004/110784/23
VAT NUMBER
4740216256
MAJOR OPERATION
Importer and exporter of clothing, fabrics and materials and manufacture ball fibre pillows.
MAJOR SUPPLIERS
DEEP SLEEP
HUL INTERNATIONAL
KM TRUCKING
BRANSON MARKETING
NAMCO FREIGHT
MAJOR CUSTOMERS OR
BUSINESS SECTORS
The subject supplies pillows to various chain stores and mainly sells to the MR PRICE retail group of companies.
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
None
TOTAL EMPLOYEES
120
OTHER PREMISES
The subject has warehouses in
OWNED OR LEASED
The premises are reported to be owned by the associate company, COPPERLAKE INVESTMENTS CC which, in turn, is owned 100% by Mr Ramon.
The following estimated financial situation was submitted:
STOCK R10 000 000
DEBTORS R 5 000 000
FIXED ASSETS R10 000 000
CREDITORS Fluctuates
LOANS Nil
TURNOVER per month R 5 000 000
AUDITORS
YEAR END
FEBRUARY
INSURANCE BROKERS
NFS INSURANCE
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. ±4 yrs declined declined 30 days 30 days Good
2. 6 yrs open acc R300 000- 30 days 30 days Very good
R400 000
3. ±2 yrs declined R100 000 30 days 30 days Good
COMMENTS
This is an established
business meeting commitments timeously. We have not traced dealings to an
extent of US$1 000 000 and would prefer to see a lesser figure on a well spread
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%)