MIRA
INFORM REPORT
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Report Date : |
11.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
MULTISTONE CAPE CC |
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Registered Office : |
Unit 5, Charddonnay
Street, Saxenburg Park, Blackheath, Cape Town, Western Cape |
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Country : |
South Africa |
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Date of Incorporation : |
08.02.2005 |
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Com. Reg. No.: |
2005/014583/23 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesalers of Granite
and Marble |
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
MULTISTONE CAPE CC
PHYSICAL ADDRESS
Unit 5
Charddonnay Street
Saxenburg Park
Blackheath
CAPE TOWN
Western Cape
POSTAL ADDRESS
P O Box 560
HARTENVOS
6520
TELEPHONE NUMBER: 021 905 7986
FAX NUMBER : 021 905
7981
MEMBERS
80% G L BURGER ID
No. 5605065066087
20% M G NEL ID
No. 4510240074082
ASSOCIATE COMPANIES
None
BANKERS
STANDARD BANK, Tyger
Manor branch, account number: 082501882.
It was stated that the subject does not require overdraft facilities as
credit balances are maintained at the bank.
DATE REGISTERED
8 February 2005
Registration Certificate
Number: 2005/014583/23
VAT NUMBER
4260220472
MAJOR OPERATION
Wholesalers of granite
and marble
MAJOR SUPPLIERS
The subject imports most
of its supplies and deals locally with:
CLEAR FREIGHT
STONE CONNECTION
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Granite and marble
manufacturers
AREA OF DISTRIBUTION AND SELLING
Cape Town
EXPORTS
None
TOTAL EMPLOYEES
7
OTHER PREMISES
None
OWNED OR LEASED
Leased
MEMBERS CONTRIBUTION
R100
The following estimated
financial situation was submitted:
STOCK R 800 000
DEBTORS R1 000 000
FIXED ASSETS R1 000 000
CREDITORS R1 000 000
OVERDRAFT Nil
LOANS Nil
TURNOVER per month R800 000 – R1 000 000
AUDITORS
MAZARS ROWLAND, Cape
Town
YEAR END
DECEMBER
INSURANCE BROKERS
SANTAM
TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 3 yrs declined declined 30
days 30 days Good
2. 1 yr R1 400 000 R500 000 30
days 30 days Very good
COMMENTS
This is a relatively
established business meeting its local commitments timeously. We have not traced dealings to an extent of
US$1 000 000 and would prefer to see a far lesser amount spread and secured.
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%)