MIRA
INFORM REPORT
|
Report Date : |
19.01.2008 |
IDENTIFICATION
DETAILS
|
Name : |
THE BUSINESS ZONE 1555 CC |
|
|
|
|
Registered Office : |
13 Crassula Street, Bloubergrand, Cape Town, Western Cape |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
11.07.2006 |
|
|
|
|
Com. Reg. No.: |
2006/116226/23 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Import Related Services |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Status : |
New Company |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
COMPANY NAME
THE BUSINESS ZONE 1555 CC
TRADING NAME
IMPORT EXPORT GROUP SA
CHEMTECH HYGIENE SERVICES
PHYSICAL ADDRESS
13 Crassula Street
BLOUBERGRAND
Cape Town
Western Cape
POSTAL ADDRESS
P O Box 517166
WEST BEACH
7449
TELEPHONE NUMBER: 021 556 3775 / 021 557 8221
FAX NUMBER: 021 557 9118
MEMBERS
100% S W LOGGENBERG ID No: 6910205246089
ASSOCIATE COMPANIES
ROYAL ALBATROSS INVESTMENTS 129 CC (Dormant)
BANKERS
STANDARD BANK, Thibault Square, account number 072822341. It was stated that the subject enjoys overdraft facilities to an extent of R1 850 000.
DATE REGISTERED
11 July 2006
Registration Certificate Number: 2006/116226/23
It was stated that prior to the subject being registered Mr Loggenberg was the Financial Director of the Platinum Group of Companies from 2002 to 2006 and prior to that had been involved in importing since 1995.
He still consults to the Platinum Group of Companies.
VAT NUMBER
4420238760
MAJOR OPERATION
The subject provides import related services. The subject also undertakes industrial cleaning on a very small scale.
MAJOR SUPPLIERS
The subject imports all of its supplies and uses BERRY AND DONALDSON. The subject is reported to pay on receipt of documents.
MAJOR CUSTOMERS OR BUSINESS
SECTORS:
The clothing sector as well as having one factory where they do the industrial cleaning.
AREA OF DISTRIBUTION AND SELLING
Cape Town
EXPORTS
None
TOTAL EMPLOYEES
4 permanent as well as casuals.
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be owned by Mr Loggenberg in his personal name and valued in the region of R2 000 000 and bonded in favour of STANDARD BANK for approximately R2 000 000. The premises were bought in August 2007.
MEMBERS CONTRIBUTION
R1
Full financial information was not forthcoming from respondents at the subject, however, it was stated that the monthly turnover is approximately R700 000.
AUDITORS
MAZARS MOORES ROWLAND
YEAR END
FEBRUARY
INSURANCE BROKERS
FIRST LINK INSURANCE BROKERS
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. July 2007 R750 000 R200 000 60 days60 days Good
c/l
COMMENTS
This is a very new
business that is not a general credit seeker locally. We have no basis upon
which to recommend credit dealings to an extent of $1 000 000 DA and it is suggested that all dealings be on
a letter of credit basis.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)