MIRA
INFORM REPORT
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Report Date : |
29.09.2007 |
IDENTIFICATION DETAILS
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Name : |
B AND S AGENCIES (PTY) LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
26 October 1973 |
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Com. Reg. No.: |
1973/013255/07 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importers and distributors of imported foodstuffs e.g. olive oil, cheese, mustard, pickles and tuna, etc. |
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
B AND S AGENCIES (PTY) LTD
Formerly
ARI-AVIV (PTY) LTD, the name having been changed on 3 January 1984.
PHYSICAL ADDRESS
MIDRAND
POSTAL ADDRESS
Postnet
Private Bag X11
HALFWAY HOUSE
1685
TELEPHONE NUMBER: 011 466 1367
FAX NUMBER: 011 466 1368
CELLULAR NUMBER: 082 8951918
The subject moved on
1 June 2007 from Unit 15/16,
SHAREHOLDERS
50% R P SCHAFFNER
25% A B DU FEY
25% C E DU FEY
The shareholding changed as the end of June 2006 and was previously 50% R P SCHAFFNER and 50% A B DU FEY.
ASSOCIATE COMPANIES
None
DIRECTORS
R P SCHAFFNER
A B DU FEY (Mrs)
C E DU FEY (husband)
BANKERS
STANDARD BANK, Bramley Branch, Account Number: 001752111. It was stated that the subject enjoys overdraft facilities to an extent of R4.5 million, unsecured. Utilisation is stated to fluctuate.
DATE REGISTERED
26 October 1973
Registration Certificate Number: 1973/013255/07
Respondents stated that they were indent and property agents until March 2002, when they commenced trading as importers and distributors.
VAT NUMBER
4890139985
MAJOR OPERATION
Importers and distributors of imported foodstuffs e.g. olive oil, cheese, mustard, pickles and tuna, etc
MAJOR SUPPLIERS
The subject imports 85% of its supplies from Europe,
F
SAFCOR
BIKALI FOODS
MICOR
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Wholesalers and retailers e.g. Pick ‘n Pay and Spar (Retail chain stores).
AREA OF
DISTRIBUTION AND SELLING
EXPORTS
None
TOTAL EMPLOYEES
21 including 6 representatives.
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be leased
AUTHORISED SHARE
CAPITAL
R4 000 divided into 4 000 ordinary shares of R1 each
ISSUED SHARE
CAPITAL
R200
The following estimated financial situation was submitted:
STOCK R6 000 000
DEBTORS R5 900 000 – R6 100 000
FIXED ASSETS R1 200 000
CREDITORS R2 600 000
LOANS Nil
TURNOVER per month R4 200 000
AUDITORS
FINANCIAL FRONTIERS, Tel No. 011 442 6662
YEAR END
JUNE
INSURANCE BROKERS
GRAHAM SILVA
TRADE REFERENCES –
NOVEMBER 2006
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Old acc R300
000 R300 000 60 days 60 days Very
good
2. 2003 R500
000 R300 000 30 days 30 days Very
good
c/l
3. 5 yrs R250
000 R200 000 30 days 30 days Very
good
TRADE REFERENCES –
JUNE 2007
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 4 yrs confidential confidential 30 days 30
days Excellent
2. Do not give trade references
3. 10 yrs R250
000 R300 000 30 days 30 days Very
Good
4. Do not give trade references
CURRENT TRADE
REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Old acc open R200
000 60 days 60 days Very good
2. Old acc R300
000 R250 000 30 days 30 days Very
good
3. Do not give trade references
4. Do not give trade references
COMMENTS
This is an established company that imports most of its supplies. We have not traced dealings to an extent of US$1 000 000 and would prefer to see a far lesser amount spread and secured.
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%)