MIRA
INFORM REPORT
|
Report Date : |
08.09.2007 |
IDENTIFICATION DETAILS
|
Name : |
AGRO-ORGANICS (PTY) LTD |
|
|
|
|
Registered Office : |
2 Gate Complex, AECI Site, Off |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
22 March 2000 |
|
|
|
|
Com. Reg. No.: |
2000/005499/07 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers and distributors of organic pesticides and herbicides |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
COMPANY NAME
AGRO-ORGANICS (PTY) LTD
FORMERLY
EVERVEST TWENTY SIX (PTY) LTD, the name having been changed on the 5 November 2001.
PHYSICAL ADDRESS
2 Gate Complex
AECI Site
Off
SOMERSET WEST
POSTAL ADDRESS
Postnet
Private Bag X15
SOMERSET WEST
7129
TELEPHONE NUMBER: 021 851 2403
FAX NUMBER: 021 852 3508
SHAREHOLDERS
33⅓% J H
33⅓% K S
33⅓% H
ASSOCIATE COMPANIES
The shareholders are reported to be involved in a company namely S A PLANT ORGANISATION (PTY) LTD, trading as SAPO.
DIRECTORS
J H
K S
H
BANKERS
NEDBANK, Wynland Branch. It was stated that the subject enjoys
overdraft facilities to an extent of R800 000 secured by the Shareholders
guarantees. Utilisation is stated to fluctuate.
DATE REGISTERED
22 March 2000
Registration Certificate Number 2000/005499/07
The subject was commenced as a new business. It was stated that Mr Jacobs previously worked for KWV Co-operation and Mr van der Merwe previously owned a company namely J C H Import & Export CC. Mr Ferreira previously worked for a Government organisation.
VAT NUMBER
48010188339
MAJOR OPERATION
Manufacturers and distributors of organic pesticides and herbicides
MAJOR SUPPLIERS
The subject imports most of its supplies and deals locally with:
BERRY & DONALDSON
PROTEA CHEMICALS
POLY
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Agricultural and organic markets
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
None
TOTAL EMPLOYEES
6
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be leased.
AUTHORISED SHARE
CAPITAL
R1 000 divided into 1 000 ordinary R1 shares
ISSUED SHARE CAPITAL
R1 000
Full financial information was not forthcoming from respondents at the company, however it was stated that turnover per month is R1 600 000.
AUDITORS
G E WOLFE-COOTE
YEAR END
MAY
INSURANCE BROKERS
SARFIN BROKERS
TRADE REFERENCES –
NOVEMBER 2001
PERIOD HIGHEST AVERAGE TERMS
PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. ±1 yr declined declined 30 days 30 days Very good
2. 01/2001 R20 000 R1 000 - 30 days 30 days Very good
c/l R2 000
3. 07/2000 R15 000 R10 000 30 days 30 days Very good
CURRENT TRADE
REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 1.5 yrs R60 000 R15 000 30 days 30 days Good
2. Do not give trade references
3. 2 yrs open R20 000 30 days 30 days Very good
4. 02/2001 R20 000 R 1 500 30 days 30 days Good
COMMENTS
This is a newly registered business meeting its small commitments timeously. We have not traced dealings to an extent of US$1 000 000 and would prefer to see a far lesser figure on a well spread and secured 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%)