MIRA
INFORM REPORT
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Report Date : |
04.09.2007 |
IDENTIFICATION
DETAILS
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Name : |
SAFNA (PTY) LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
27 July 2001 |
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Com. Reg. No.: |
2001/016584/07 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importing and sale of |
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
SAFNA (PTY) LTD
TRADING NAME
GEMINI PARTS
PHYSICAL ADDRESS
POSTAL ADDRESS
EXCOM
2023
TELEPHONE NUMBER: 011 334 1417
FAX NUMBER:
011 334 0069
SHAREHOLDERS
A SALEE
M A SALEE
Z SALEE
ASSOCIATE COMPANIES
None
DIRECTORS
A SALEE (son) ID No. 8305275107089
M A SALEE ID No. 5704275168088
Z SALEE (wife) ID No. 6106180133083
BANKERS
STANDARD BANK, Southdale Branch. It was stated that the subject enjoys overdraft facilities to an extent of R1 million, secured by cash on call and policies. Utilisation is stated to fluctuate.
DATE REGISTERED
27 July 2001
Registration Certificate Number: 2001/016584/07
The subject incorporated operations of a previous Sole Proprietorship namely GEMINI PARTS and began trading in 2003. The latter company was owned by M A SALEE and had been trading since 1983.
VAT NUMBER
4570205619
MAJOR OPERATION
Importing and sale of
MAJOR SUPPLIERS
SAFCOR PANELPINA
PARTS INCORPORATED
PARTQUIP
DANNY AUTOMOTIVE
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Motor dealers and retailers
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
Neighbouring countries
TOTAL EMPLOYEES
27
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be leased
AUTHORISED SHARE
CAPITAL
R1000 divided into 1000 ordinary shares of R1 each
ISSUED SHARE CAPITAL
R100
Full financial information was not forthcoming from respondents at the subject, however, it was stated that the annual turnover is R12 million
AUDITORS
BOAKE INC
YEAR END
JUNE
INSURANCE BROKERS
ORCHID
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. Do not give trade references
2. 1995 declined R50 000 30 days 30 days Good
2.5% 2.5%
3. 10 yrs declined declined 30 days 30 days Very good
4. 10 yrs R45 000 declined 30 days 30 days Excellent
COMMENTS
This is an
established business meeting its commitments timeously. We have not traced dealings to an extent of
US$1 000 000 and we would prefer to see a lesser figure on a well spread
basis. The lack of 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%)