MIRA INFORM REPORT

 

 

Report Date :

04.09.2007

 

IDENTIFICATION DETAILS

 

Name :

HEXAGON INTERNATIONAL COMMODITY TRADERS (PTY) LTD

 

 

Registered Office :

1st Floor, Informax House, Wessels Street, Rivonia, Gauteng

 

 

Country :

South Africa

 

 

Date of Incorporation :

30 May 1991

 

 

Com. Reg. No.:

1991/002787/07

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Importers and exporters of fast moving consumer goods as well as hardware, etc

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

COMPANY NAME

 

HEXAGON INTERNATIONAL COMMODITY TRADERS (PTY) LTD

 

 

PHYSICAL ADDRESS

 

1st Floor

Informax House

Wessels Street

RIVONIA

Gauteng

 

                                               

POSTAL ADDRESS

 

P O Box 1135

RIVONIA

2128

TELEPHONE NUMBER:  011 803 4462

FAX NUMBER:                011 803 4946

 

 

SHAREHOLDERS

 

100% HEXAGON BREMEN (which is reported to be a well established company).

 

 

ASSOCIATE COMPANIES

 

There are reported to be group companies situated throughout Africa.

 

 

DIRECTORS

 

B M KOTIAN                 DOB:    16 July 1970

T MOHORN (Germany)   ID No:   5910113604000

 

 

BANKERS

 

NEDBANK, Rivonia branch, account number 1969095318.  It was stated that the subject enjoys overdraft facilities secured by a letter of comfort from the holding company.  Utilisation is stated to fluctuate.

 

 

DATE REGISTERED

 

30 May 1991

Registration Certificate Number: 1991/002787/07

 

 

VAT NUMBER

 

4470130602

 

 

MAJOR OPERATION

 

Importers and exporters of fast moving consumer goods as well as hardware, etc

 

 

MAJOR SUPPLIERS

 

WILLOWTON PRODUCTS  Pietermaritzburg

DAVITA TRADING  Johannesburg

INDIGO COSMETICS  Cape Town

OXYGEN LANCING  Johannesburg

 

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

 

Various companies.

 

 

AREA OF DISTRIBUTION AND SELLING

 

South Africa

 

 

EXPORTS

 

Angola and the DRC.

 

 

TOTAL EMPLOYEES

 

8

 

 

OTHER PREMISES

 

None

 

 

OWNED OR LEASED

 

The premises are reported to be leased.

 

The following estimated financial situation was submitted:

 

STOCK                                                                                                 Nil

DEBTORS - Fluctuates depending on contract orders between 7 and 30 days.

LOANS                                                                                                 Nil

TURNOVER                                                             per month R6 000 000

 

 

AUDITORS

 

J C B

 

 

YEAR END

 

DECEMBER

 

 

INSURANCE BROKERS

 

MALLAC HEARLE & ASSOCIATES

 

 

TRADE REFERENCES

 

            PERIOD            HIGHEST          AVERAGE         TERMS             PAYMENT         EXPERIENCE

                                    CREDIT            CREDIT                                    PATTERN

 

1.         Do not give trade references.

 

2.         Old acc             declined            declined            30 days             30 days             Good

 

3.         Feb 2003           R400 000          R400 000          30 days             30 days             Very good

 

4.         Do not give trade references.

 

 

COMMENTS

 

This is an established company meeting commitments timeously. We have not traced dealings to an extent of $1 000 000 and would prefer to see a lesser figure on a well spread basis.

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions