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MIRA
INFORM REPORT
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Report Date : |
29.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
CRESCENT CHEMICALS (PTY) LTD |
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Registered Office : |
19 Hyde Woods, 9 Townshend
Road, Hyde Park, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
13.10.1995 |
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Com. Reg. No.: |
1995/010947/07 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers of Specialised Chemicals |
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 : |
No Complaints |
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Litigation : |
Clear |
COMPANY NAME
CRESCENT CHEMICALS (PTY) LTD
PHYSICAL ADDRESS
19 Hyde Woods
9 Townshend Road
HYDE PARK
Gauteng
POSTAL ADDRESS
P O Box 2032
WITKOPPEN
2068
TELEPHONE NUMBER: 011
788 8145
FAX NUMBER: 011
327 0240
The subject moved from 14 Pearl Crescent, Fairfield, Witkoppen Ext 4 4
years ago.
SHAREHOLDERS
100% C A WAGNER
ASSOCIATE COMPANIES
None
DIRECTORS
C A WAGNER (Sole director)
BANKERS
STANDARD BANK Parktown. It was stated
that the subject enjoys overdraft facilities, secured by the personal guarantee
of Mr Wagner. Utilisation of the
overdraft is stated to be partial.
DATE REGISTERED
13 October 1995
Registration Certificate Number 1995/010947/07.
The subject was commenced as a new business.
VAT NUMBER
441015224
MAJOR OPERATION
Importers of specialised chemicals
MAJOR SUPPLIERS
The subject imports 99% of its supplies and deals locally with:
CONTRACT FORWARDING Durban
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Plastic and printing industries
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
None
TOTAL EMPLOYEES
3
OTHER PREMISES
None, however the subject is reported to have 3 agents, 1 in Durban, 1 in Cape Town and another in
Harare.
OWNED OR LEASED
The premises are reported to be the home and business premises and owned
by C A WAGNER in his personal capacity.
AUTHORISED SHARE CAPITAL
R100 divided into 100 ordinary shares of R1 each
ISSUED SHARE CAPITAL
R100
Full financial information was not forthcoming from respondents at the
company, however it was stated that the turnover per annum is R16 million.
AUDITORS
L REYNECKE & ASSOCIATES
YEAR END
FEBRUARY
INSURANCE BROKERS
PREST MARINE
TRADE REFERENCES – FEBRUARY 2003
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 1 yr R100 000 R80 000 30 days 30
days Very good
CURRENT TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 5 yrs R700 000 R250 000
- 30 days 30 days+ Very
good
c/l R300 000
COMMENTS
This is an established company which is not a
general credit seeker locally. The
subject is meeting its one local commitment slightly over terms at times. We have not traced dealings to an extent of
US$1 000 000 and it is suggested
dealings to a lesser extent be well spread and secured. The lack of full financial information should
be borne in mind.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.54 |
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UK Pound |
1 |
Rs.84.86 |
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Euro |
1 |
Rs.66.95 |
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%)