MIRA
INFORM REPORT
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Report Date : |
18.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
TANYA'S AGENCIES CC |
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Registered Office : |
Sucosa House, cnr Apple and Desmond Road, Kramerville,
Sandton, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
15.09.1992 |
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Com. Reg. No.: |
1992/019311/23 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and Wholesalers of exclusive Fabrics e.g. Silk,
Cotton |
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
THE
SILK AND COTTON COMPANY
PHYSICAL ADDRESS
8
Kramer Road
KRAMERVILLE
POSTAL ADDRESS
P O Box 1738
PARKLANDS
2121
On investigation it was established that THE SILK AND COTTON
COMPANY is the trading name of a business registered as TANYA'S AGENCIES CC
which report should be consulted
COMPANY NAME
TANYA'S AGENCIES CC
TRADING NAME
THE SILK & COTTON COMPANY
PHYSICAL ADDRESS
Sucosa House
cnr Apple and Desmond Road
Kramerville
SANDTON
Gauteng
POSTAL ADDRESS
P O Box 1738
PARKLANDS
2121
TELEPHONE NUMBER: 011 448 2578
FAX NUMBER: 011 448 2522
MEMBERS
100% T C STURGEON (Mrs)
The Membership was previously 90% T C STURGEON and 10% S BLACK, having changed in 2004.
ASSOCIATE COMPANIES
None
BANKERS
NEDBANK, Hyde Park, account number 1523017104. It was stated that the subject enjoys overdraft facilities, secured by a cession of debtors. Utilisation is stated to be nil at present as credit balances are maintained at the bank.
DATE REGISTERED
15 September 1992
Registration certificate number 1992/019311/23
VAT NUMBER
4630135343
MAJOR OPERATION
Importers and wholesalers of exclusive fabrics e.g. silk, cotton
MAJOR SUPPLIERS
The subject imports 100% of its supplies from countries worldwide (USA, India, Thailand, Europe) and deals locally with:
S A MERCANTILE Johannesburg.
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Interior decorators
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
Occasionally to the United Kingdom.
TOTAL EMPLOYEES
30
OTHER PREMISES
The subject has a branch in Cape Town and agents in Cape Town, Port Elizabeth and Durban
OWNED OR LEASED
The office premises are reported to be leased.
MEMBERS CONTRIBUTION
R100
The following estimated financial situation was submitted:
STOCK R3 500 000
DEBTORS R2 000 000
CREDITORS R1 000 000 – R2 000 000
LOANS Nil
TURNOVER per annum +R9 000 000
AUDITORS
DEIRDRE VAN RIEL
YEAR END
FEBRUARY
INSURANCE BROKERS
GARRUN BROKERS
TRADE REFERENCES – AUGUST 2006
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 3 yrs R350
000 R350 000 60 days 60 days Good
c/l
TRADE REFERENCES – FEBRUARY 2007
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 5 yrs R375
000 R100 000 60 days 68 days Good
c/l
TRADE REFERENCES – AUGUST 2007
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 4 mths R367
000 varies 30 days 30
days Good
CURRENT TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 1 yr R20
000 R20 000 30 days 30 days Very
good
COMMENTS
This is an established business meeting its one commitment timeously. We have not traced dealings to an extent of $1 000 000 and would prefer to see a far lesser amount spread and secured.
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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%)