MIRA
INFORM REPORT
|
Report Date : |
09.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
TSE BIG MAX CC |
|
|
|
|
Formerly Known as : |
O ESSOP’S |
|
|
|
|
Registered Office : |
366 Main Reef Road, Denver, Johannesburg, Gauteng |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
1985 |
|
|
|
|
Com. Reg. No.: |
2003/059857/23. |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Importers, Manufacturers and Distributors of Trailer Parts |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
COMPANY NAME
TSE BIG MAX CC
PHYSICAL ADDRESS
366 Main Reef Road
DENVER
Johannesburg
Gauteng
POSTAL ADDRESS
P O Box 27459
BENROSE
2011
Telephone Number:
011 622 1527
Fax Number: 011 616
8458
MEMBERS
50% O ESSOP ID
No. 6210315087055
50% MRS N HASSEN ID No. 6504220160050
ASSOCIATE COMPANIES
COLOUR PLATE SERVICES CC
PRAXOS 76 CC (Manufacturing company for the subject)
BANKERS
STANDARD BANK, Johannesburg Main branch. It was stated that the subject enjoys overdraft facilities. Utilisation is stated to be nil as credit balances are normally maintained at the bank.
DATE REGISTERED
17 July 2003
Registration Certificate Number: 2003/059857/23.
The subject originated in 1985 as a Sole Proprietorship in O ESSOP’S name.
VAT NUMBER
4090206824
MAJOR OPERATION
Importers, manufacturers and distributors of trailer parts
MAJOR SUPPLIERS
NATCO
JOST SA
NYLON TUBES AND COILS
RSS (REFLEXITE)
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Trailer manufacturers and garages.
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
Neighbouring countries.
TOTAL EMPLOYEES
70
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be leased.
MEMBERS CONTRIBUTION
R100
The following estimated financial situation was submitted:
STOCK R15 000 000
DEBTORS Fluctuates
FIXED ASSETS R550 000
CREDITORS Fluctuates
SHAREHOLDERS' LOANS Nil
LONG TERM LIABILITIES R2 000 000
TURNOVER per annum R80 000 000 – R90 000 000
AUDITORS
M AND M ACCOUNTING SERVICES
YEAR END
FEBRUARY
INSURANCE BROKERS
LENSURE INSURANCE BROKERS
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 05/2004 open R 20 000 - 14 days 14 days Excellent
R250 000
2. 10 yrs declined R700 000 - 30 days 30 days Very good
R800 000
3. 17 yrs open R100 000+ 30 days 30 days Excellent
2.5% 2.5%
COMMENTS
This is an
established business meeting its commitments timeously. We have not traced dealings to an extent of
US$1 000 000 DA and would prefer to see a lesser figure well spread.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)