MIRA
INFORM REPORT
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Report Date : |
12.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
CAPE UNION MART GROUP (PTY) LIMITED |
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Registered Office : |
K-Way House, 34 - 40 Barrack Street, Cape Town, Western Cape |
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Country : |
South Africa |
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Date of Incorporation : |
14 April 1980 |
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Com. Reg. No.: |
1980/003138/07 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading Activities |
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
CAPE UNION MART GROUP (PTY) LIMITED
PHYSICAL ADDRESS
K-Way House
34 - 40 Barrack Street
CAPE TOWN
Western Cape
POSTAL ADDRESS
P O Box 2545
CAPE TOWN
8000
TELEPHONE NUMBER: 021 464 5800
FAX NUMBER: 021 461 8774
SHAREHOLDERS
100% AMALA TRUST
ASSOCIATE COMPANIES
CAPE UNION MART (PTY) LTD (dormant)
SPARKS & ELLIS (CAPE) (PTY) LTD
K-WAY MANUFACTURERS (PTY) LTD (Formerly Dorothea Zuidema (Pty) Ltd the name having been changed in 1996)
CAPE UNION MART INTERNATIONAL (PTY) LTD (this is the main trading company in the Group) (100% subsidiary of the subject)
DIRECTORS
P J KRAWITZ
A ANGELINIADIS
M VOGELMAN
BANKERS
FIRST NATIONAL BANK, Cape Town Commercial Suites branch. It was stated that the subject enjoys substantial overdraft facilities, unsecured. Utilisation is stated to fluctuate according to the needs of the company.
DATE REGISTERED
14 April 1980
Registration certificate number 1980/003138/07
The subject's operations originated in approximately 1966 but over the years the company has restructured.
MAJOR OPERATION
The subject is now purely a holding company for the group but it was previously the main trading company of the group. The trading operations of the subject have been taken over by CAPE UNION MART INTERNATIONAL (PTY) LTD and K-WAY MANUFACTURERS (PTY) LTD.
MAJOR SUPPLIERS
Not applicable as the subject is a holding company.
MAJOR CUSTOMERS OR BUSINESS
SECTORS
The group companies sell to the general public and government bodies
AREA OF DISTRIBUTION AND SELLING
The Group distributes throughout South Africa
EXPORTS
The Group exports to Europe, USA and the United Kingdom
TOTAL EMPLOYEES
1500 in the group
OTHER PREMISES
The subject does not have any other premises but the Group has branches in Cape Town, Ottery and Johannesburg.
OWNED OR LEASED
The head office premises are leased.
AUTHORISED SHARE CAPITAL
R1 000 divided into 1 000 ordinary shares of R1 each
ISSUED SHARE CAPITAL
R1 000
Full financial information was not forthcoming from respondents at the company and outside authorities were unable to assist in this respect.
AUDITORS
KPMG
YEAR END
MARCH
INSURANCE BROKERS
J B ROSEN & CO Cape Town
TRADE REFERENCES
NOT APPLICABLE
COMMENTS
This is an established company that is not a general credit seeker. We have not traced dealings to an extent of US$1 000 000 and it should be established with which company in the group business dealings are being undertaken.
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%)