MIRA
INFORM REPORT
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Report Date : |
03.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
TRYSOME AUTO ELECTRICAL AND PLANT HIRE CC |
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Registered Office : |
7 Model Road, Whitfield Ext 20, Jet Park, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
22.03.1991 |
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Com. Reg. No.: |
1991/007655/23 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and Distributors of Auto Electrical and Heavy
Duty Equipment |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
TRYSOME PARTS DISTRIBUTORS
PHYSICAL ADDRESS
7 Model Road
Whifield Ext 20
JET PARK
Gauteng
POSTAL ADDRESS
P O Box 13677
WHITFIELD
1459
On investigation
it was established that the correct registered name of the subject is TRYSOME
AUTO ELECTRICAL AND PLANT HIRE CC, which report should be consulted.
COMPANY NAME
TRYSOME AUTO ELECTRICAL AND PLANT HIRE CC
PHYSICAL ADDRESS
7 Model Road
Whitfield Ext 20
JET PARK
Gauteng
POSTAL ADDRESS
P O Box 13677
WHITFIELD
1467
TELEPHONE NUMBER: 011 823 5650
FAX NUMBER: 011 823 5662
MEMBERS
92,5% E W SMITH ID
No. 6211135078001
5% A
G JURGENS ID No.
7308085060085
2,5% W
JEFFERY
The Membership was
previously 95% E W SMITH and 5% A G JURGENS having changed.
ASSOCIATE COMPANIES
DPM PROPERTIES CC which is owned by E W SMITH (property owning company)
BANKERS
STANDARD BANK, Benoni Branch. It was stated that the subject enjoys overdraft facilities, secured by a cession of debtors. Utilisation is stated to fluctuate.
DATE REGISTERED
22 March 1991
Registration Certificate Number: 1991/007655/23
VAT NUMBER
4690126851
MAJOR OPERATION
Importers and distributors of auto electrical and heavy duty equipment
MAJOR SUPPLIERS
DIESEL ELECTRIC
PARTS INCORPORATED
SKF
CONTRACT FORWARDING
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Heavy construction and mining industries, etc
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
Neighbouring countries up to Congo and Tanzania
TOTAL EMPLOYEES
80 - 90
OTHER PREMISES
The subject has branches in Cape Town, Rustenburg, Witbank and Lydenburg
OWNED OR LEASED: The Johannesburg and Witbank premises are reported to be owned by the associate property owning and the remainder of the premises are leased.
MEMBERS CONTRIBUTION
R100
The following estimated financial situation was submitted:
STOCK R3 500 000
DEBTORS R4 000 000
CREDITORS R2 500 000
LOANS fluctuate
TURNOVER per month R4 000 000
AUDITORS
STEWART & COMPANY, East Rand 011 972 8244
YEAR END
FEBRUARY
INSURANCE BROKERS
THE BROKERAGE
TRADE REFERENCES – SEPTEMBER 2007
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 1997 R200 000 R120 000 30 days 30 days Very good
2. Sep 1998 R150 000 declined 30 days 30 days Very good
c/l 2.5% 2.5%
3. Unable to give trade references.
4. Old acc declined declined 30 days 30 days Good
CURRENT TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 1997 Confidential R60 000+ 30 days 30 days Good
2. 1998 R60 000 R40 000 - 30 days 30 days Good
c./l R50 000 2.5% 2.5%
3. Unable to obtain information
COMMENTS
This is an
established business meeting commitments timeously. We have not traced dealings
to an extent of $1 000 000 and would prefer to see a far lesser figure on a well
spread basis.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.34 |
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UK Pound |
1 |
Rs.86.53 |
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Euro |
1 |
Rs.68.54 |
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%)