MIRA
INFORM REPORT
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Report Date : |
16.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
FARSHI PAK CC |
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Registered Office : |
209 Jan Smuts Avenue,
Parktown North, Johannesburg, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
09.02.2005 |
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Com. Reg. No.: |
2005/015682/23 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing of Persian
and oriental hand made carpets and the wholesaling and retailing thereof |
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 : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY NAME
FARSHI PAK CC
PHYSICAL ADDRESS
209 Jan Smuts Avenue
Parktown North
JOHANNESBURG
Gauteng
POSTAL ADDRESS
P O Box 2572
SAXONWOLD
2132
TELEPHONE NUMBER: 011 447 2339
FAX NUMBER: 011 880 6613
MEMBERS
50% K Z DAR ID No. 6309045310181
50% A SHARIF ID No. 6701019186185
ASSOCIATE COMPANIES
PAK PERSIAN
INTERNATIONAL CC
BANKERS
NEDBANK, Fordsburg
branch and FIRST NATIONAL BANK, Lenasia branch. Further banking information was not forthcoming from respondents
at the subject.
DATE REGISTERED
9 February 2005
Registration Certificate
Number: 2005/015682/23
VAT NUMBER
4200218651
MAJOR OPERATION
Importing of Persian and
oriental hand made carpets and the wholesaling and retailing thereof
MAJOR SUPPLIERS
The subject imports most
of its supplies and deals locally with:
KUEHNE & NAGEL
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Group companies and
retailers
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
None
TOTAL EMPLOYEES
6
OTHER PREMISES
The subject has retail shops in Johannesburg,
Pretoria and Cape Town
OWNED OR LEASED
The premises are
reported to be owned by a group company in which the Members are involved, the
name of which was not forthcoming.
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
DOUGLAS AND ASSOCIATES
YEAR END
FEBRUARY
INSURANCE BROKERS
UNINSURED
TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Cash on delivery
COMMENTS
This is an
established business that is not a general credit seeker. We have not traced
dealings to an extent of $1 000 000 over DA terms and suggest a far lesser
figure 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.47.33 |
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UK Pound |
1 |
Rs.73.92 |
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Euro |
1 |
Rs.66.69 |
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%)