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MIRA
INFORM REPORT
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Report Date : |
28.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
STEAM AND VALVE SPECIALISTS (PTY) LTD |
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Registered Office : |
4 Mike Crook Road, Industries East, GERMISTON, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
19.09.1978 |
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Legal Form : |
Private Limited |
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Line of Business : |
Retailers of valves |
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
STEAM AND VALVE SPECIALISTS (PTY) LTD
ADDRESS
PHYSICAL ADDRESS:
4 Mike Crook Road
Industries East
GERMISTON
Gauteng
POSTAL ADDRESS:
P O Box 4142
GERMISTON SOUTH
1411
TELEPHONE NUMBER: 011 873 6377
FAX NUMBER: 011 625 6452
SHAREHOLDERS
100% WTFM
INVESTMENTS (PTY) LTD
ASSOCIATE COMPANIES
MANDIRK (PTY) LTD
TOOL & ELECTRICAL DISTRIBUTORS (PTY) LTD
DIRECTORS
K G ANGELOS ID No.
4210125017104
H P C FERREIRA ID No.
5105035030081
BANKERS
NEDBANK, Germiston branch, account number: 1918370761. It was stated that the subject enjoys
overdraft facilities. Utilisation is
stated to be nil as credit balances are normally maintained at the bank.
DATE REGISTERED
19 September 1978
Registration Certificate Number: 1978/003632/07
The present Shareholders took over the subject in 1994.
VAT NUMBER
4840142600
MAJOR OPERATION
Retailers of valves
MAJOR SUPPLIERS
The subject imports most of its supplies and deals locally with:
VALVETECH Johannesburg
NATIONAL TRADING Cape Town
G C BAARS Johannesburg
ROSS CONTROLS
PRO LOGISTICS
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Wholesalers, resellers, boilermakers, hospitals, etc
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
None
TOTAL EMPLOYEES
8
OTHER PREMISES
The subject has a branch in Cape Town
OWNED OR LEASED
Leased
ISSUED SHARE CAPITAL
R1000
The following estimated financial situation was submitted:
STOCK R2
500 000
DEBTORS R 500 000
CREDITORS local & foreign R 300 000
TURNOVER per annum R4
000 000
AUDITORS
WOEST MALAN WENHOLD VON ZWUETRING
YEAR END
JUNE
INSURANCE BROKERS
GENESIS GROUP
TRADE REFERENCES – NOVEMBER 1999
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 11/1998 R 10
000 R 5 000 - 30 days 30 days Good
R 10 000
2. 06/1998 R 20
000 R 10 000 - 30 days 30 days Good
R 20 000
3. 02/1996 R123 000 R 49 000 - 30
days 30 days Good
R123
000
CURRENT TRADE REFERENCES:
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. Nov 1998 R10 000 R10 000 30
days 30 days Very good
c/l 10% 10%
2. 1998 R20 000 R 2 000 30 days 30 days Very
good
c/l Last purchased in September
2007
3. 2 yrs open acc R 6 000 30 days 30 days Good
COMMENTS
This is a well established business that is
meeting its small local commitments timeously. We have not traced dealings to
an extent of $1 000 000 over DA terms and would prefer to see a far lesser
figure on a well spread 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%)