MIRA
INFORM REPORT
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Report Date : |
21.09.2007 |
IDENTIFICATION DETAILS
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Name : |
GKD-BUISMET (PTY)
LTD |
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Registered Office : |
Cnr Fiat & Chrysler Streets, Aureus, |
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Country : |
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Date of Incorporation : |
15 November 1994 |
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Com. Reg. No.: |
1994/009220/07 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and suppliers of filtration material, conveyor idlers and architectural mesh and steel mesh. |
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
GKD-BUISMET (PTY)
LTD
Formerly
ROCTRADE 62 (PTY) LTD, the name having been changed 15 November 1994.
PHYSICAL ADDRESS
Cnr Fiat & Chrysler Streets
AUREUS
Randfontein
POSTAL ADDRESS
GREENHILLS
1767
TELEPHONE NUMBER: 011 412 4770
FAX NUMBER: 011 412 4823
SHAREHOLDERS
100% SIKUFILT-BETEILIGUNGSGESELLSCHAFT
GmbH (
ASSOCIATE COMPANIES
GKD BUISMET RSA (PTY) LTD (Reg. No. 1999/001387/07), a small company that mainly manufactures mesh wire products
G K D DALCOR (PTY) LTD (which is also a subsidiary)
DIRECTORS
DR S A KUFFERATH-KASSNER (German)
K I KUFFERATH-KASSNER (German) (brother)
R VAN BLERK (SA)
DR R A ZIMMERMANN
BANKERS
NEDBANK, Randfontein Branch, Account Number: 1989045340. It was stated that the subject enjoys overdraft facilities to an extent of R7 million, secured by a cession of debtors. Utilisation is stated to fluctuate to partial.
DATE REGISTERED
15 November 1994
Registration Certificate Number: 1994/009220/07
The subject converted from a well-established close corporation.
VAT NUMBER
4450146123
MAJOR OPERATION
Manufacturers and suppliers of filtration material, conveyor idlers and architectural mesh and steel mesh
MAJOR SUPPLIERS
The subject imports 90% of its screen and filtration products
mainly from
ZA TRANS LOGISTICS
BEIER
AFRICAN ROLLER
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Retailers, industry in general and architectural sector
AREA OF DISTRIBUTION
AND SELLING
EXPORTS
Worldwide
TOTAL EMPLOYEES
90
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be owned by the subject and are valued in the region of R8 000 000+, bonded in favour of NEDBANK.
AUTHORISED SHARE
CAPITAL
R1 000 divided into 1 000 ordinary shares of R1 each
ISSUED SHARE CAPITAL
R1 000
The following estimated financial situation was submitted:
STOCK R 18 000 000
DEBTORS R 16 000 000
FIXED ASSETS net book value R 15 000 000
CREDITORS R 10 000 000
OVERDRAFT Fluctuates
TURNOVER per annum R105 000 000
AUDITORS
GRANT THORNTON KESSEL FEINSTEIN Tel No. 011 322 4500
YEAR END
DECEMBER
INSURANCE BROKERS
HERITAGE
TRADE REFERENCES –
MARCH 2004
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2000 R120 000 R 50 000 - 30 days 30 days Good
c/l R 80 000
2. 10 yrs R 40 000 R 40 000 30 days 30 days Good
3. 1999 R300 000 R 50 000 - 30 days 30 days Good
c/l R300 000
TRADE REFERENCES –
MARCH 2007
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2005 R200 000 R200 000 60 days 60 days+ Slow
2. 20 yrs R120 000 R120 000 30 days 30 days Average
3. Do not give trade references
CURRENT TRADE
REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 1999 R1 500 000 R400 000 30 days 30 days Good
2. 15 yrs R 120 000 R 50 000 30 days 30 days Excellent
3. Old acc R 150 000 R 50 000 - 30 days 30 days Very good
R150 000
COMMENTS
This is an established company that converted from a well established close corporation. The subject is meeting its current commitments timeously. We have not traced dealings to an extent of US$1 000 000 and would prefer to see such a 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%)