MIRA
INFORM REPORT
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Report Date : |
18.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUPRA LATEX PTY LTD |
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Registered Office : |
1 Manchester
Road, Wadeville , Germiston, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
28 September 2007 |
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Com. Reg. No.: |
2007/027848/07 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Surgical Latex Products |
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
SUPRA LATEX (PTY) LTD
PHYSICAL ADDRESS
1 Manchester Road
Wadeville
GERMISTON
Gauteng
POSTAL ADDRESS
P O Box 14948
WADEVILLE
1422
Telephone Number: 011 827 7747
Fax Number: 011 827 7754
SHAREHOLDERS
100% DR
V NAIK
The Shareholding was previously 90% S KONFORTY and 10% N KONFORTY,
having changed in 2006.
ASSOCIATE COMPANIES
None
DIRECTORS
V DESAI ID
No. 7402020202082
S NAIK Passport
No: AN213598
V NAIK (Brother) D.O.B. 620823
S L SINGH ID No.
7405155020082
BANKERS
STANDARD BANK, Florida branch, account number 021199256. It was stated that the subject enjoys overdraft facilities, unsecured. Utilisation is stated to be occasional.
DATE REGISTERED
28 September 2007
Registration Certificate Number: 2007/027848/07.
It was stated by the respondent that the subject converted from a close corporation that was established on 20 April 1985 (Reg. No. 1985/004426/23).
MAJOR OPERATION
Manufacturers of surgical latex products
MAJOR SUPPLIERS
The subject imports supplies and deals locally with:
SILICONE EXTRUSIONS Johannesburg
CARLIN MEDICAL EXTRUSIONS Johannesburg
PLASTELLE PLASTICS Johannesburg
ANAMED Johannesburg
PROTEA CHEMICALS Johannesburg
NORTH STAR Johannesburg
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Private and government hospitals and clinics
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
Occasionally to Zambia, Israel, Botswana and Namibia
TOTAL EMPLOYEES
35
OTHER PREMISES
The subject is reported to have a branch in Cape Town.
OWNED OR LEASED
The premises are reported to be leased.
AUTHORISED SHARE CAPITAL
R1 000 divided
into 1 000 ordinary shares of R1 each.
ISSUED SHARE CAPITAL
R100
Full financial information was not forthcoming from respondents at the company and outside authorities were unable to assist in this respect
AUDITORS
KPA
YEAR END
FEBRUARY
INSURANCE BROKERS
INFINITY BROKERS
TRADE REFERENCES –
NOVEMBER 2001
PERIOD HIGHEST AVERAGE TERMS
PAYMENT EXPERIENCE CREDIT CREDIT PATTERN
1. 5 yrs R20
000 R 5 000- 30 days
30 days Good
c/l R20 000
2. 3 months R30
000 R25 000 30
days 30 days Good
c/l
3. 16 yrs R30
000 R20 000- 30
days 30 days Very Good
R30 000
CURRENT TRADE
REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE CREDIT CREDIT PATTERN
1. 1996 R200
000 R10 000 - 30 days
30 days Good
2. 10 yrs declined large amt 30 days 30 days Very good
3. 12 yrs open R
4 000 - 30 days 30 days
Excellent
R 5 000
4. Last purchased 2 to 3 years ago 60 days 60 days Good
5. Do not give trade references
COMMENTS
This is a well-established
business meeting its moderate commitments timeously. No adverse comments have been heard. We have no basis upon which to recommend dealings to an extent of
US$1 500 000 DA and would prefer to see larger dealings on a letter of credit
basis. The lack of full 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%)