MIRA INFORM REPORT

 

 

Report Date :

18.03.2008

 

 

IDENTIFICATION DETAILS

 

Name :

ARBAR EXPORT CC

 

 

Registered Office :

Unit 7, Langenagen Street, Strand, Western Cape

 

 

Country :

South Africa

 

 

Date of Incorporation :

04.11.1992

 

 

Com. Reg. No.:

1992/030081/23

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importing and Distributing of Sports Equipment.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

 

 

 

 

 

COMPANY NAME

 

ARBAR EXPORT CC

 

 

PHYSICAL ADDRESS

 

Unit 7

Langenagen Street

STRAND

Western Cape

 

 

POSTAL ADDRESS

 

P O Box 1133

GORDONS BAY

7151

TELEPHONE NUMBER:021 853 5640 / 021 853 0117

FAX NUMBER:               021 853 5710

 

 

MEMBERS

 

100%    A R BARKER    ID No:   6502165766188

 

 

ASSOCIATE COMPANIES

 

ARBAR TRADING CC

 

 

BANKERS

 

FIRST NATIONAL BANK, Fourways Branch. It was stated that the subject enjoys overdraft facilities to an extent of R200 000 secured by the personal guarantee of the member. Utilisation is stated to fluctuate.

 

 

DATE REGISTERED

 

4 November 1992

Registration Certificate Number: 1992/030081/23

 

It was stated that the subject was commenced as a new business.

 

 

 

VAT NUMBER    

 

4200205807

 

 

MAJOR OPERATION

 

Importing and distributing of sports equipment.

 

 

MAJOR SUPPLIERS

 

CTC SPORTS    Cape Town

ROHLIG GRINDROD  Cape Town

DE WET SPORTS  Cape Town

MSB SPORTSWEAR 

LAYCOL  Johannesburg

TIME CLOTHING  East London

 

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

 

Retailers, end users.

 

 

AREA OF DISTRIBUTION AND SELLING

 

South Africa

 

 

EXPORTS

 

Neighbouring countries.

 

 

TOTAL EMPLOYEES

 

5 plus 5 agents throughout the country.

 

 

OTHER PREMISES

 

None

 

 

 

 

OWNED OR LEASED

 

The premises are reported to be leased.

 

 

MEMBERS CONTRIBUTION

 

R12

 

Full financial information was not forthcoming from respondents at the subject, however, the following limited financial information was submitted:

 

STOCK                                     R   600 000

DEBTORS (at present)               R1 000 000

TURNOVER (per annum)            R3 000 000

 

 

AUDITORS

 

KATHY MANN AND ASSOCIATES

 

 

YEAR END

 

MARCH

 

 

INSURANCE BROKERS

 

UNINSURED

 

 

TRADE REFERENCES

 

            PERIOD            HIGHEST          AVERAGE         TERMS             PAYMENT         EXPERIENCE

                                    CREDIT            CREDIT                                    PATTERN

 

1.         2 yrs                 declined            declined            30 days             30 days             Very good

 

2.         2003                 R200 000          varies                30 days             30 days             Good

 

3.         Do not give trade references

 

4.         Do not give trade references

 

5.         06/2007 R  20 000          R5 000              60 days             60 days             Excellent

 

 

 

 

 

COMMENTS

 

This is an established business meeting its commitments timeously.  We have not traced dealings to an extent of US$1 000 000 DA and would prefer to see far lesser dealings dealt with on a spread basis.

 

 

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions