MIRA
INFORM REPORT
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Report Date : |
21.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
CASENE AGENCIES CC |
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Registered Office : |
100 Richard
Carter Road, Mobeni, Durban, Kwa-Zulu Natal |
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Country : |
South Africa |
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Date of Incorporation : |
10 April 2000 |
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Com. Reg. No.: |
2000/017794/23 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
The retailing of surgical gloves |
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
CASENE AGENCIES CC
PHYSICAL ADDRESS:
100 Richard Carter
Road
MOBENI
Durban
Kwa-Zulu Natal
POSTAL ADDRESS
P O Box 21355
BLUFF
4036
Telephone Number: 031
469 2745
Fax Number:
031 469 2747
MEMBERS
100% MRS
M GOVENDER ID No: 7004230244084
(Nickname: Kogie)
ASSOCIATE COMPANIES
None
BANKERS
NEDBANK, Bluff Branch, Durban. It was stated that the subject enjoys overdraft
facilities of approximately R100 000 secured by the personal guarantee of the
Member. Utilisation is stated to fluctuate.
DATE REGISTERED
10 April 2000
Registration Certificate Number: 2000/017794/23.
VAT NUMBER
4900191406
MAJOR OPERATION
The retailing of surgical gloves
MAJOR SUPPLIERS
The subject imports 100% of its supplies and deals only on a C O D basis
with suppliers.
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Hospitals, retailers
AREA OF DISTRIBUTION AND SELLING
Kwa-Zulu Natal
EXPORTS
None
TOTAL EMPLOYEES
5
OTHER PREMISES
None
OWNED OR LEASED
The premises are
reported to be leased.
The following estimated financial situation was submitted:
STOCK R300
000
CREDITORS COD
LOANS NIL
TURNOVER per month R400 000 – R600 000
AUDITORS
MALHERBE LOURENS
YEAR END
FEBRUARY
INSURANCE BROKERS
SANLAM
TRADE REFERENCES
C O D
COMMENTS
This is an established business that deals only
on a cash basis with suppliers. We therefore suggest that all dealings with the
subject be on a letter of credit basis.
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%)