MIRA INFORM REPORT

 

 

Report Date :

13.09.2007

 

IDENTIFICATION DETAILS

 

Name :

TEAMPLAY TRADING ENTERPRISES (PTY) LTD

 

 

Registered Office :

161 Umbilo Road, Durban, Kwa-Zulu Natal

 

 

Country :

South Africa

 

 

Date of Incorporation :

27 January 2006

 

 

Com. Reg. No.:

2006/002238/07

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Traders in sports equipment.

 

 

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 :

Regular

 

 

Litigation :

Clear

 

 

COMPANY NAME

 

TEAMPLAY TRADING ENTERPRISES (PTY) LTD

 

 

PHYSICAL ADDRESS

 

161 Umbilo Road

DURBAN

Kwa-Zulu Natal

 

 

POSTAL ADDRESS

 

P O Box 1964

DURBAN

4000

TELEPHONE NUMBER:  031 305 1368

FAX NUMBER:                031 306 2674

CELLULAR NUMBER:      082 575 4184

 

 

SHAREHOLDERS

 

The shares of the subject are reported to be owned by the two Directors in their own Trusts

 

 

ASSOCIATE COMPANIES

 

M BANA is reported to be involved in a number of other companies, namely:

 

AFRICAN QUEEN TRADING (PTY) LTD

BLUE DIAMOND SA (PTY) LTD

GOTTLIEBS CLOTHING (PTY) LTD

 

 

DIRECTORS

 

M BANA                       ID No. 6505065134050

D A SCOTT                   ID No. 6104145098087

 

 

BANKERS

 

HBZ BANK LTD and NEDBANK LTD, Durban branch.  It was stated that the subject is at present negotiating overdraft facilities.

 

 

DATE REGISTERED

 

27 January 2006

Registration Certificate Number: 2006/002238/07

 

The subject only commenced trading in July 2006.

 

 

VAT NUMBER

 

4520225634

 

 

MAJOR OPERATION

 

Traders in sports equipment

 

 

MAJOR SUPPLIERS

 

The subject imports supplies and deals locally with:

 

R & A SHIPPING

 

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

 

MR PRICE sports retail stores at present, however, the subject is hoping to expand

 

 

AREA OF DISTRIBUTION AND SELLING

 

Durban

 

 

EXPORTS

 

None

 

 

TOTAL EMPLOYEES

 

3

 

 

 

 

 

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 subject’s turnover at present is in the region of R650 000 per month

 

 

AUDITORS

 

SAB & T INC

 

 

YEAR END

 

MAY

 

 

INSURANCE BROKERS

 

SALEYS AGENCIES

 

 

TRADE REFERENCES

 

            ACCOUNT        HIGHEST          AVERAGE         TERMS             PAYMENT         EXPERIENCE

            OPENED           CREDIT            CREDIT                                    PATTERN

 

1.         6 months           R200 000          R   200 000-      30 days             30 days             Very good

                                    C/L                   R1 000 000

 

 

COMMENTS

 

This is a new company meeting its local commitments timeously. It is suggested at present that all dealings be on a letter of credit basis only until the subject is better established

 

 

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