MIRA
INFORM REPORT
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Report Date : |
05.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
MIMOSA SWEETS CC |
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Registered Office : |
3 Smuts Avenue,
Vereeniging, Vaal Triangle |
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Country : |
South Africa |
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Date of Incorporation : |
15.02.1996 |
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Com. Reg. No.: |
1996/006732/23 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Retailers of Sweets |
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
MIMOSA SWEETS CC
PHYSICAL ADDRESS
3 Smuts Avenue
VEREENIGING
Vaal Triangle
POSTAL ADDRESS
P O Box 21249
ROSHNEE
1936
TELEPHONE NUMBER: 016 422 0593 / 4050
FAX NUMBER: 016
455 5346
MEMBERS
40% I DADABHAY ID No. 8111275249081
30% B DADABHAY (brother) ID No. 7901285147080
30% Y DADABHAY (brother) ID No. 8405015046082
The Membership was previously 100% D DADABHAY, having changed.
ASSOCIATE COMPANIES
LEZMIN 2962 CC
DAZ INVESTMENTS CC
BANKERS
HBZ BANK, Lenasia Branch
(570130), account number: 11901179821.
It was stated that the subject does not require overdraft facilities as
credit balances are normally maintained at the bank.
DATE REGISTERED
15 February 1996
Registration Certificate
Number: 1996/006732/23
VAT NUMBER
4190155533
MAJOR OPERATION
Retailers of sweets
MAJOR SUPPLIERS
ABI VAAL
NESTLE
CADBURYS
BEACON
NATIONAL BRANDS
BRITISH AMERICAN TOBACCO
SIMBA
CARTOON CANDY
MAJOR CUSTOMERS OR BUSINESS
SECTORS
General public,
retailers and hawkers
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
None
TOTAL EMPLOYEES
28
OTHER PREMISES
None
OWNED OR LEASED
Leased
MEMBERS CONTRIBUTION
R100
Full financial information
was not forthcoming from respondents at the subject and outside authorities
were unable to assist in this regard.
AUDITORS
A H COONARA & CO
YEAR END
FEBRUARY
INSURANCE BROKERS
SALOOJEE TALIA
TRADE REFERENCES – JUNE 1997
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 1 yr R 40 000 R 40 000 30 days 30 days Very good
2. 1 yrs R450 000 R300 000 7 days 7 days Good
Per month per month
3. Unable to obtain a trade reference
CURRENT TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2005 R150 000 R30 000 30 days 30 days Good
2. Few Yrs R100 000 R50 000 7 days 7 days Good
3. 2000 R300 000 R100 000 7 days 7 days+ Average
c/l from invoice
COMMENTS
This is an
established business meeting its commitments timeously. We have not traced
dealing to an extent of US$1 000 000 over DA terms and would prefer to see
dealings to a lesser extent on a fully secured 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%)