MIRA
INFORM REPORT
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Report Date : |
16.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
ZEMDOCK CC |
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Registered Office : |
P O Box 1687, Vereeniging, 1930 |
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Country : |
South Africa |
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Date of Incorporation : |
24.03.1997 |
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Com. Reg. No.: |
1997/014733/23 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Retailing and wholesaling of men’s and ladies
clothing, sportswear, jewellery, footwear and school wear. |
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
ZEMDOCK CC
TRADING NAME
SEDGARS
PHYSICAL ADDRESS
9c Market Street
VEREENIGING
Gauteng
POSTAL ADDRESS
P O Box 1687
VEREENIGING
1930
Telephone Number: 016
422 3804
Fax Number: 016
422 0899
MEMBERS
50% M E DOCKRAT ID No. 6012245214050
45% F CASSIM ID No. 6303230006084
5% R DOCKRAT ID
No. 6110240254087
The Membership was previously 50% M E DOCKRAT and 50% S E DOCKRAT,
having changed.
ASSOCIATE COMPANIES
SEDOCK ENTERPRISES
(PTY) LTD
BANKERS
STANDARD BANK,
Vereeniging North Branch. It was stated
that the subject enjoys overdraft facilities, secured. Utilisation is stated to be nil as credit
balances are normally maintained at the bank.
DATE REGISTERED
24 March 1997
Registration
Certificate Number: 1997/014733/23
It was stated that
the subject converted from a private company that was originally registered in
1988.
VAT NUMBER
4710126584
MAJOR OPERATION
Retailing and wholesaling
of men’s and ladies clothing, sportswear, jewellery, footwear and school wear.
MAJOR SUPPLIERS
The subject imports
all of its supplies and deals locally with:
KUEHNE & NAGEL
M & F SHIPPING
NIKE
TRUBOK
MAJOR CUSTOMERS OR BUSINESS
SECTORS
General public and
various industries e.g. United Cricket Board, Coca Cola, Sasol and other
corporates.
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
None
TOTAL EMPLOYEES
140
OTHER PREMISES
The subject is reported
to have branches in Boksburg, Vanderbijlpark, Welkom and East London.
OWNED OR LEASED
The head office
premises are reported to be owned by the subject and the branch premises are
leased.
MEMBERS CONTRIBUTION
R1000
The following estimated financial situation was submitted:
DEBTORS R25
000 000
FIXED ASSETS R 1 000 000
CREDITORS R 3 000 000
LOANS Nil
TURNOVER per month R15 000 000
AUDITORS
H POCHEE &
COMPANY
YEAR END
FEBRUARY
INSURANCE BROKERS
RELIANCE INSURANCE
TRADE REFERENCES – MARCH 2001
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 7
yrs R200 000 R130 000 - 30 days 30 days Very good
R200
000
2. 10
yrs+ R250 000 R100 000 date
of invoice Excellent
3. 1985+ R400 000 R300 000 30 days 30 days Very
good
TRADE REFERENCES – MARCH 2007
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 15
yrs R 100 000 R 90 000 - 30
days 10 days Very good
R100
000
2. 1
yrs R1 000 000 R122 000 15
days 15 days Excellent
3. 1988 R
300 000 declined 30 days 30 days Good
5%
CURRENT TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. Old
Acc R200 000 R150 000 30 days 30 days Very
Good
(varies)
2. ±10
yrs R500 000 R250 000 60
days 30 days Excellent
c/l
3. 1997 R300 000 Declined 30 days 30 days Excellent
c/l 5% 5%
COMMENTS
This is an
established business that converted from a well established private company.
The subject is meeting its commitments timeously and is considered equal to an
amount of US$1 000 000 on a well spread and 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.47.94 |
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UK Pound |
1 |
Rs.72.07 |
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Euro |
1 |
Rs.64.70 |
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%)