MIRA INFORM REPORT

 

 

Report Date :

21.09.2007

 

IDENTIFICATION DETAILS

 

Name :

R AND W TRANSPORT COMPONENTS CC

 

 

Registered Office :

21 Crown Road, Fordsburg, Johannesburg, Gauteng

 

 

Country :

South Africa

 

 

Date of Incorporation :

22 November 2001

 

 

Com. Reg. No.:

2001/079877/23

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Importers and retailers of truck and trailer spares.

 

 

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

 

R AND W TRANSPORT COMPONENTS CC

 

 

PHYSICAL ADDRESS

 

21 Crown Road

FORDSBURG

Johannesburg

Gauteng

 

 

POSTAL ADDRESS

 

P O Box 34406

ERASMIA

0023

TELEPHONE NUMBER:  011 838 5187

FAX NUMBER:                011 838 5186

 

 

MEMBERS

 

F ESSOP          ID No:   6603125126081

 

 

ASSOCIATE COMPANIES

 

PANKANA CC (Dormant)

ASPECT TRUCK AND TRAILER SPARES CC

 

 

BANKERS

 

FIRST NATIONAL BANK, Fordsburg Branch. It was stated that the subject does not require overdraft facilities as credit balances are maintained at the Bank.

 

 

DATE REGISTERED

 

22 November 2001

Registration Certificate Number:  2001/079877/23

 

 

VAT NUMBER

 

4750197420

 

MAJOR OPERATION

 

Importers and retailers of truck and trailer spares.

 

 

MAJOR SUPPLIERS

 

CONTROL INSTRUMENTS

POLY LOGIC

QSV AUTOMOTIVE

BRAKE SPEC

MICOR

 

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

 

Transport industry.

 

 

AREA OF DISTRIBUTION AND SELLING

 

South Africa

 

 

EXPORTS

 

African Countries

 

 

TOTAL EMPLOYEES

 

9

 

 

OTHER PREMISES

 

None

 

 

OWNED OR LEASED

 

The premises are reported to be leased.

 

 

 

 

 

MEMBERS CONTRIBUTION

 

R1

 

The following estimated financial situation was submitted:

 

STOCK                                                             R2 500 000

DEBTORS                                                         R3 000 000

FIXED ASSETS                                                 R   600 000

CREDITORS                                                      R2 500 000

LOANS                                                                         Nil

TURNOVER per month                                       R1 700 000

 

 

AUDITORS

 

SAB AND T CHARTERED ACCOUNTANTS INC

 

 

YEAR END

 

FEBRUARY

 

 

INSURANCE BROKERS

 

SOLID BROKERS

 

 

TRADE REFERENCES

 

            ACCOUNT        HIGHEST          AVERAGE         TERMS             PAYMENT         EXPERIENCE

            OPENED           CREDIT            CREDIT                                    PATTERN

 

1.         2004                 R120 000          R  10 000-         30 days             30 days             Good

                                    c/l                     R  90 000

 

2.         Do not give trade references.

 

3.         Old acc             declined            R  50 000          30 days             30 days             Very good

 

4.         2 yrs                 declined            R200 000          30 days             30 days             Very good

 

 

COMMENTS

 

This is a relatively established business meeting its commitments timeously. We have not traced dealings to an extent of $1 000 000 and would prefer to see a far lesser amount spread and secured.

 

 

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