MIRA
INFORM REPORT
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Report Date : |
03.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
T R C CONVEYOR BELTING
CC |
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Registered Office : |
7 Madeley Road,
Strubenvale, Springs, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
05.02.2001 |
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Com. Reg. No.: |
2001/005803/23 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing and Sale of Conveyor Belting |
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
T R C CONVEYOR BELTING
CC
PHYSICAL ADDRESS
7 Madeley Road
Strubenvale
SPRINGS
Gauteng
POSTAL ADDRESS
P O Box 10372
STRUBENVALE
1570
TELEPHONE NUMBER:011 812
2760
FAX NUMBER: 011 812 2764
MEMBERS
D W NORRIS (majority)
M S MAKHATHINI
ASSOCIATE COMPANIES
CONVEYOR & PLANT SERVICES CC in which business D W NORRIS is involved
JIMSU INVESTMENTS CC
(property owning company)
BANKERS
STANDARD BANK, Springs Branch, Account Number: 020839316. 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
5 February 2001
Registration certificate
number 2001/005803/23
The subject converted from T R C CONVEYOR BELTING (PTY) LTD, which began trading in 1985, registration number: 1985/002867/07.
VAT NUMBER
417015560
MAJOR OPERATION
Importing and sale of conveyor belting
MAJOR SUPPLIERS
The subject imports all of its supplies and deals locally with:
LOCHHEAD WHITE & WOMERSLEY Johannesburg.
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Mines
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
Neighbouring countries
TOTAL EMPLOYEES
9 for the subject and 28
in the group.
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be owned by the associate property owning company.
The following estimated
financial situation was submitted:
STOCK R5 000 000
DEBTORS R3 000 000
CREDITORS R1 800 000
TURNOVER per month R1 500 000
ACCOUNTANT
C B VISSER (Kimberley)
YEAR END
FEBRUARY
INSURANCE BROKERS
L H BROKERS
TRADE REFERENCES - MARCH 2006
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. Old acc. R100 000 unknown 30 days 30 days Good
c/l
TRADE REFERENCES – MAY 2007
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 10 yrs R100 000 R100 000 30 days 30 days Good
CURRENT TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 10 yrs R400 000 R100 000 - 30 days 30 days Excellent
R200 000 varies
COMMENTS
This is an established company that is not a general credit seeker locally. It is suggested that dealings to an extent of US$1 500 000 be on a well spread and secured 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%)