MIRA
INFORM REPORT
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Report Date : |
05.12.2008 |
IDENTIFICATION
DETAILS
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Correct Name : |
CONCIOUS TRADING
ENTERPRISES CC |
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Registered Office : |
1 Vogelman Street,
Albermarle Ext 2, Alberton, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
07.11.1994 |
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Com. Reg. No.: |
1994/036868/23 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing and Sale of
Leather Goods, Belts, Clothing, Bags and Other Clothing |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY NAME
SAVANNAH INTERNATIONAL
PHYSICAL ADDRESS
1 Vogelman Street
Albemarle Ext 2
ALBERTON
Gauteng
TELEPHONE NUMBER: 082 410 5209
FAX NUMBER: 011 902 7091
On investigation it
was established that the subject is a trading name for a company named CONCIOUS
TRADING ENTERPRISES CC, which report should be consulted.
COMPANY NAME
CONCIOUS TRADING ENTERPRISES
CC
TRADING NAME
SAVANNAH INTERNATIONAL
LIZZARD
FAST FORWARD
PHYSICAL ADDRESS
1 Vogelman Street
Albermarle Ext 2
ALBERTON
Gauteng
POSTAL ADDRESS
P O Box 7796
ALBERMARLE
1410
TELEPHONE NUMBER: 011 902 7091
FAX NUMBER: 011 902 7091
CELLULAR NUMBER: 082 410 5209
On investigation contact
was made with a Member of the subject who was reluctant to divulge detailed
information as he stated that he only deals on a payment up front basis with
overseas suppliers. Nevertheless, the
following basic information was obtained, which reads as follows:
MEMBERS
50% M ASLING
50% J BARCHARDT
ASSOCIATE COMPANIES
None
BANKERS
NEDBANK. Further banking information was not
forthcoming from respondents at the subject.
DATE REGISTERED
7 November 1994
Registration Certificate
Number: 1994/036868/23
VAT NUMBER
4090148166
MAJOR OPERATION
Importing and sale of
leather goods, belts, clothing, bags and other clothing.
MAJOR SUPPLIERS
TRIAD CLEANING
MAXCOW
INTERBRAND
LIZZARD Durban
NANHWA TRADING
MAJOR CUSTOMERS OR BUSINESS
SECTORS
The subject sells goods
through its own stores to the general public
AREA OF DISTRIBUTION AND SELLING
Gauteng
EXPORTS
None
OTHER PREMISES
The subject is reported to have 5 stores in the
Gauteng area
OWNED OR LEASED
The head office is
stated to be owned by the subject and the store premises are leased.
Full financial
information was not forthcoming from respondents at the subject and outside
authorities were unable to assist in this regard.
AUDITORS
RESOLUTION ACCOUNTING
YEAR END
FEBRUARY
INSURANCE BROKERS
DECLINED
TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Unable to assist – busy with financials
2. Do not give trade references.
3. Do not give trade references.
4. Unable to obtain.
5. Few yrs Declined R 8 000 - C.O.D. Good
R30 000 10%
COMMENTS
This is an established business meeting its one obtainable commitment on a C.O.D. basis. In view of the absence of detailed information, we suggest all dealing be on a letter of credit basis.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.69 |
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UK Pound |
1 |
Rs.72.96 |
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Euro |
1 |
Rs.63.46 |
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%)