MIRA
INFORM REPORT
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Report Date : |
29.09.2007 |
IDENTIFICATION DETAILS
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Name : |
DYNAMAX AUTO COMPONENTS CC |
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Registered Office : |
Unit 3, Pinehurst, |
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Country : |
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Date of Incorporation : |
25 July 1995 |
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Com. Reg. No.: |
1995/030471/23 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers and assemblers of components for motor vehicles. |
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
DYNAMAX AUTO COMPONENTS CC
PHYSICAL ADDRESS
Unit 3
Pinehurst
SPARTAN
Isando
POSTAL ADDRESS
2037
TELEPHONE NUMBER: 011 974 7861
FAX NUMBER:
011 974 6340
MEMBERS
51% A SANCHEZ ALBADE
49% O J JENKINS ID No. 4003220047088
ASSOCIATE COMPANIES
None
BANKERS
FIRST NATIONAL BANK,
DATE REGISTERED
25 July 1995
Registration Certificate Number: 1995/030471/23.
VAT NUMBER
4020152056
MAJOR OPERATION
Manufacturers and assemblers of components for motor vehicles.
MAJOR SUPPLIERS
The subject deals mainly with:
WIRE SYSTEMS TECHNOLOGY
HENNEWAYS
MAJOR CUSTOMERS OR
BUSINESS SECTORS
The automotive industry
AREA OF
DISTRIBUTION AND SELLING
EXPORTS
TOTAL EMPLOYEES
16
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be leased.
MEMBERS
CONTRIBUTION
R100
The following estimated financial situation was submitted:
STOCK R2 500 000 – R 3 000 000
DEBTORS R 1 500 000
CREDITORS R 500 000
LOANS Nil
TURNOVER per annum R12 000 000
AUDITORS
GRANT THORNTON
YEAR END
FEBRUARY
INSURANCE BROKERS
SANDTON INSURANCE BROKERS
TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. May 2006 R200 000 R 50 000 30 days 30 days Very good
c/l
2. 1998 R338 000 R 50 000- 30 days 30 days Good
c/l R150 000 5% 5%
EFT
COMMENTS
This is an 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
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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%)