MIRA INFORM REPORT

 

 

Report Date :

13.05.2008

 

 

IDENTIFICATION DETAILS

 

Name :

CARBONCOR SOUTH AFRICA (PTY) LTD

 

 

Registered Office :

16 Palala Road, Protea Park, Cnr Oranje Rivier and Zuurfontein Roads, Chloorkop Gauteng

 

 

Country :

South Africa

 

 

Date of Incorporation :

24.11. 1999

 

 

Com. Reg. No.:

1999/025929/07

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturers of Cold applied Road Surfacing Products

 

 

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

 

CARBONCOR SOUTH AFRICA (PTY) LTD

 

 

PHYSICAL ADDRESS

 

16 Palala Road

Protea Park

Cnr Oranje Rivier and Zuurfontein Roads

CHLOORKOP

Gauteng

 

 

POSTAL ADDRESS   

 

25 Porter Avenue

MELROSE NORTH

2196

TELEPHONE NUMBER: 011 976 0917

FAX NUMBER:  011 976 0919

 

 

SHAREHOLDERS

 

K STAVROU

A STAVROU

O VAN DER WALT

P F GARRIOCH

 

 

ASSOCIATE COMPANIES

 

MAFIKA CARBONCOR (PTY) LTD

 

 

DIRECTORS

 

K STAVROU (daughter)              ID No. 7301230366085

A STAVROU (father)

 

 

BANKERS

 

STANDARD BANK, Hyde Park Branch.  It was stated that the subject enjoys overdraft facilities, secured by the personal guarantees of the Shareholders.  Utilisation is stated to be nil to partial at times.

 

 

DATE REGISTERED

 

24 November 1999

Registration Certificate Number: 1999/025929/07

 

 

VAT NUMBER          

 

4920202662

 

 

MAJOR OPERATION

 

Manufacturers of cold applied road surfacing products

 

 

MAJOR SUPPLIERS

 

HOLCIM

SANYATI (Nyanga Roads)

SLATER CORE

LINK PLASTIC

 

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

 

Government and contractors

 

 

AREA OF DISTRIBUTION AND SELLING

 

South Africa

 

 

EXPORTS

 

Worldwide

 

 

TOTAL EMPLOYEES

 

13 permanent and 15 casual

 

 

 

OTHER PREMISES

 

The subject has an office at 25 Porter Street, Melrose North

 

 

OWNED OR LEASED

 

The head office premises are reported to be leased and the office at Melrose North is owned by A STAVROU in his personal capacity

 

 

AUTHORISED SHARE CAPITAL

 

R100 divided into 100 ordinary shares of R1 each

 

 

ISSUED SHARE CAPITAL

 

R100

 

Full financial information was not forthcoming from respondents at the subject and outside authorities were unable to assist in this regard.

 

 

AUDITORS    

 

CHARTFORDS CENTRAL INC

 

 

YEAR END    

 

FEBRUARY

 

 

INSURANCE BROKERS 

 

COM RISK

 

 

TRADE REFERENCES

 

            PERIOD            HIGHEST          AVERAGE         TERMS             PAYMENT         EXPERIENCE

            CREDIT                                    CREDIT                                    PATTERN

 

1.         4 yrs                 open                 R1 500 000        30 days             30 days             Very good

 

2.         Old acc             open                 R   250 000       30 days             30 days             Very good

 

3.         Old acc             declined            declined            30 days             30 days             Very Good

 

 

COMMENTS

 

This is an established business, meeting its commitments timeously.  We have not traced dealings to an extent of US$1 000 000 over DA terms and would prefer to see a lesser amount spread and secured.

 

 

 

 

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