MIRA
INFORM REPORT
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Report Date : |
21.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
M L P DISTRIBUTORS CC |
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Registered Office : |
Cnr Main Reef and Kelvin Roads, Industria, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
23.11.1988 |
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Com. Reg. No.: |
1988/032691/23 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturing, Distribution and Wholesaling of Snuff Products |
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
M L P DISTRIBUTORS CC
PHYSICAL ADDRESS
Cnr Main Reef and Kelvin Roads
INDUSTRIA
Gauteng
POSTAL ADDRESS
P O Box 9975
JOHANNESBURG
2000
TELEPHONE NUMBER: 011 661 5777
FAX NUMBER: 011 661 5778
MEMBERS
25% R M PATEL ID No. 4501085089087
25% K S PATEL ID No. 7904305158087
25% A M LALA ID No. 6002045151057
25% C R MADHU ID No. 7207315210082
ASSOCIATE COMPANIES
RAMSAM CLOTHING CC
S R A INVESTMENTS CC
C K V PROPERTIES CC
BANKERS
STANDARD BANK Johannesburg Main branch. It was stated that the subject
enjoys overdraft facilities secured by the members’ guarantees. Utilisation of the overdraft is stated to fluctuate.
DATE REGISTERED
23 November 1988
Registration Certificate Number 1988/032691/23
The subject converted from a private company (Reg. No. 1971/014190/07).
VAT NUMBER
4420105399
MAJOR OPERATION
Manufacturing, distribution and wholesaling of snuff products
MAJOR SUPPLIERS
The subject imports some of its supplies and purchase from farmers and deal locally with:
R T T (PTY) LTD Johannesburg
PROTEA CHEMICALS
V PARAGBHAI & SONS Johannesburg
MAJOR CUSTOMERS OR BUSINESS
SECTORS:
Retailers and wholesalers, e.g. Makro
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
Occasionally to Botswana and Lesotho
TOTAL EMPLOYEES
50
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be owned by a property company in the Group, namely, C K V PROPERTIES CC.
MEMBERS CONTRIBUTION
R300
Full financial information was not forthcoming from respondents at the subject and outside authorities were unable to assist in this respect.
AUDITORS
HORWATH LEVETON BONER Benmore
YEAR END
FEBRUARY
INSURANCE BROKERS
HERITAGE
TRADE REFERENCES – MAY 2001
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1.1 yr+ R2 500 000 R1 000 000 - 15 days 15 days Very good
c/l R2 000 000
2. 5 yrs+ R 400 000 R 200 000 - 30 days 30 days Very good
R 400 000
3.Old acc. R 250 000 R 250 000 30 days 30 days Very good
CURRENT TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 40 yrs R4 000 000 R3 000 000- 30 days 30 days Very good
R4 000 000
2. Old acc declined declined 30 days 30 days Very good
3. Do not give trade references
COMMENTS
This is an established business meeting commitments timeously. The subject is considered equal to US$1 000 000 spread over 180 days. 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%)