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MIRA
INFORM REPORT
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Report Date : |
03.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
COMMERCIAL AUTO PARTS
(SELBY) (PTY) LTD |
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Registered Office : |
Cnr. Trump and West
Street, SELBY, Johannesburg, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
02.12.1996 |
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Com. Reg. No.: |
1996/017028/07 |
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Legal Form : |
Propriety Limited |
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Line of Business : |
Wholesaling, Retailing
and Importing of Motor Spares, Accessories and Second Hand 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
COMMERCIAL AUTO PARTS
(SELBY) (PTY) LTD
PHYSICAL ADDRESS
cnr. Trump and West
Street
SELBY
Johannesburg
Gauteng
POSTAL ADDRESS
P O Box 34179
JEPPESTOWN
2043
TELEPHONE NUMBER: 011 493
7010
FAX NUMBER: 011 493 8022
SHAREHOLDERS
50% C J R WILLIS
50% M A BOTES
ASSOCIATE COMPANIES
STAND 309310 SELBY (PTY)
LTD – property owning company
DIRECTORS
C J R WILLIS ID. No.
5603205167105
M A BOTES ID. No.
6204275107003
BANKERS
FIRST NATIONAL BANK
Meadowdale Branch. It was stated that the subject enjoys overdraft facilities,
secured by the shareholders and the assets of the company. Utilisation of the
overdraft facility is stated to fluctuate.
DATE REGISTERED
2 December 1996
Registration Certificate
Number: 1996/017028/07
The subject was formerly
a close corporation that commenced trading in 1991. Former Registration
Certificate Number: 1991/011985/23.
VAT NUMBER
4850121468
MAJOR OPERATION
Wholesaling, retailing
and importing of motor spares, accessories and second hand vehicles.
MAJOR SUPPLIERS
ALERT ENGINE PARTS,
Johannesburg
PARTS INCORPORATED,
Johannesburg
PARTS INTERNATIONAL,
Durban
DANNY’S, Johannesburg
GAYDONS, Durban
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Public and Industry
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
Neighbouring Countries
TOTAL EMPLOYEES
±120
OTHER PREMISES
None
OWNED OR LEASED
The premises are
reported to be owned by the associate property owning company, STAND 309310
SELBY (PTY) LTD.
ISSUED SHARE CAPITAL
R100
Full financial
information was not forthcoming from respondents at the subject, however, the
following estimated financial situation was submitted:
STOCK R9 000 000 – R12 000
000
DEBTORS Mainly C. O. D.
FIXED ASSETS R
3 900 000
TURNOVER per annum R65 000 000
AUDITORS
GRANT THORNTON, Sandown
YEAR END
FEBRUARY
INSURANCE BROKERS
PSG
TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 05/2006 declined R 12 000 - 30 days 30 days Good
R125 000
2. 5 yrs R100 000 R100 000 30 days 30 days Good
c/l
3. Do not give trade references
4. Do not give trade references
COMMENTS
This is an
established company meeting its commitments timeously. We have not traced dealings to an extent of
$1 000 000 over DA terms and suggest dealings be to a lesser extent on a well
spread basis.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.90 |
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UK Pound |
1 |
Rs.74.30 |
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Euro |
1 |
Rs.63.42 |
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%)