MIRA
INFORM REPORT
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Report Date : |
14.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
THOMAS ABRASIVES PTY LTD |
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Registered Office : |
29 Smits Street,
Industria West, Germiston, Transvaal |
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Country : |
South Africa |
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Date of Incorporation : |
26 February 1964 |
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Com. Reg. No.: |
1964/001307/07 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Producers of grids and shots |
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
THOMAS ABRASIVES (PTY) LTD
PHYSICAL ADDRESS
29 Smits Street
INDUSTRIA WEST
Germiston
Transvaal
POSTAL ADDRESS
P O Box 1461
GERMISTON
1400
TELEPHONE NUMBER: 011 821 2800
FAX NUMBER: 011 873
2696
SHAREHOLDERS
100% TALLERES FABIO MERGER
(Spain)
ASSOCIATE COMPANIES
None
DIRECTORS
P R ARNAUD DOB: 5 December 1954
Y G M BARRAQUAND DOB: 23 September 1960
T P H GEORGES DOB: 14 November 1974
A M MARTINGANO ID NO: 6308265108085
BANKERS
STANDARD BANK, Malvern branch, account number 201852683. It was stated that the subject enjoys
overdraft facilities, secured by a cession of debtors. Utilisation is stated to be seldom as credit
balances are normally maintained at the bank.
DATE REGISTERED
26 February 1964
Registration Certificate Number: 1964/001307/07.
It was stated that THOMAS ABRASIVES (PTY) LTD was previously a division
of THOMAS FOUNDRY (PTY) LTD then a division was incorporated into a dormant
company and was registered and started trading from March 1991.
MAJOR OPERATION
Producers of grids and shots
MAJOR SUPPLIERS
I N SIMBI ALLOY SUPPLIES
AMETSA
E M TOOLING
D H L
B & W METALS
MAJOR CUSTOMERS OR BUSINESS
SECTORS:
Steel industries
AREA OF DISTRIBUTION AND
SELLING:
South Africa
EXPORTS
Neighbouring countries, Japan, Germany, China
TOTAL EMPLOYEES
74
OTHER PREMISES
None
OWNED OR LEASED
The premises are owned by the subject, however,
further information was not forthcoming from the respondent.
AUTHORISED SHARE CAPITAL
R100 divided into 100 ordinary shares of R1 each.
ISSUED SHARE CAPITAL
R100
Full financial information was not forthcoming from respondents at the
subject and outside authorities were unable to assist in this regard.
AUDITORS
DELOITTE & TOUCHE Sandton
YEAR END
FEBRUARY
INSURANCE BROKERS
ALEXANDER FORBES INSURANCE BROKERS
TRADE REFERENCES – MARCH 1993
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 1 yr R50 000 R40
000 30 days 30 days Very
Good
2. 1991 R150 000 R100
000 30 days 30 days Very Good
3. Few yrs R45 000 R40
000 30 days 30 days Very
Good
CURRENT TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 15 yrs R250 000 R100 000- 30 days 30 days Excellent
c/l R200 000
2. Old acc declined declined 30 days 30 days Very good
3. March 2007 R150 000 R 50 000- 30
days 30 days Very good
R150
000 2.5%
COMMENTS
This is an established business meeting its commitments timeously. The
subject is considered equal to its normal business engagements. The lack of
financial information should be borne in mind.
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%)