MIRA
INFORM REPORT
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Report Date : |
08.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
A AND F MOTOR SPARES AND ACCESSORIES CC |
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Registered Office : |
49 Webber Street, Selby, Johannesburg,
Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
6.12.1988 |
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Com. Reg. No.: |
1988/033858/23 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Wholesalers of motor spares and accessories |
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
A AND F MOTOR
SPARES AND ACCESSORIES CC
TRADING NAME
K O MOTOR SPARES
PHYSICAL ADDRESS
49 Webber Street
Selby
JOHANNESBURG
Gauteng
POSTAL ADDRESS
P O Box 1862
LENASIA
1820
Telephone Number: 011 493 0100
Fax Number: 011
493 4957
MEMBERS
100% A KHAN ID
No.5512195159057
ASSOCIATE COMPANIES
It was stated that
A KHAN is involved in other businesses the names of which were not forthcoming
from respondents at the subject.
BANKERS
FIRST NATIONAL
BANK, Lenasia Branch, Account Number 55281701703. It was stated that the subject enjoys overdraft facilities,
secured by the personal guarantee of the Member. Utilisation is stated to fluctuate.
DATE REGISTERED
6 December 1988
Registration Certificate Number:
1988/033858/23
VAT NUMBER
4730118124
MAJOR OPERATION
Wholesalers of motor spares and accessories
MAJOR SUPPLIERS
SPARE PRO
QSV
AUTOPART
DISTRIBUTORS
MAJOR CUSTOMERS OR
BUSINESS SECTORS
Motor industry
AREA OF
DISTRIBUTION AND SELLING
South Africa
EXPORTS
Zimbabwe
TOTAL EMPLOYEES
20
OTHER PREMISES
The subject has 3
retail shops in Gauteng
OWNED OR LEASED
The premises are reported to be owned by the
Member in his personal capacity
MEMBERS
CONTRIBUTION
R100
The following estimated financial situation was submitted:
STOCK R4
000 000
DEBTORS R1
000 000
CREDITORS R 600 000
OVERDRAFT R 500 000
LOANS Nil
TURNOVER per month R1
500 000 – R2 000 000
AUDITORS
AAA BAHADOOR
YEAR END
FEBRUARY
INSURANCE BROKERS
VIS NAIDOO
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. Old
acc declined R60 000 30
days 30 days Very good
2. 10
yrs R100 000 R20 000 - 30
days 30 days Very good
c/l R50 000
3. 2003 declined R20 000 - 30
days 30 days Very good
R50
000
COMMENTS
This is an
established business meeting its 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%)