MIRA INFORM REPORT

 

 

 

 

Report Date :

22.05.2008

 

 

IDENTIFICATION DETAILS

 

Name :

JAN HOFMEYER TRADING CC

 

 

Registered Office :

12 8th Avenue, Parktown North, Johannesburg, Gauteng

 

 

Country :

South Africa

 

 

Date of Incorporation :

08.12. 2006

 

 

Com. Reg. No.:

2006/218690/23

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importers and Distributors of Chemicals to the Soap and Detergent Industry

 

 

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 :

No Complaints

 

 

Litigation :

Clear

 

 

 

 

 

 

 

 

COMPANY NAME

 

JAN HOFMEYER TRADING CC

 

 

TRADING NAME

 

JHT

 

 

PHYSICAL ADDRESS

 

12 8th Avenue

Parktown North

JOHANNESBURG

Gauteng

 

 

POSTAL ADDRESS

 

P O Box 446

PARKLANDS

2121

TELEPHONE NUMBER: 011 442 9539

FAX NUMBER:  011 880 1825

CELLULAR NUMBER:    073 178 6071

 

 

MEMBERS

 

100%    A I PARUK        ID No. 6305165135051

 

 

ASSOCIATE COMPANIES

 

None

 

 

BANKERS

 

STANDARD BANK, Jan Smuts Avenue branch, account number: 062496468.  It was stated that the subject enjoys overdraft facilities.  Utilisation is stated to be nil as credit balances are normally maintained at the bank.

 

 

 

 

 

DATE REGISTERED

 

8 December 2006 Registration Certificate Number: 2006/218690/23

 

The subject originated as a Sole Proprietorship in 2001.

 

 

VAT NUMBER

 

4610239867

 

 

 MAJOR OPERATION

 

Importers and distributors of chemicals to the soap and detergent industry

 

 

MAJOR SUPPLIERS

 

The subject imports most of its supplies and deals locally with:

 

NATIONAL SOAP

KWALITY EXPORTS

 

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

 

Soap and detergent manufacturers and retailers such as SPAR Group

 

 

AREA OF DISTRIBUTION AND SELLING

 

South Africa mainly Gauteng

 

 

EXPORTS

 

None

 

 

TOTAL EMPLOYEES

 

8

 

 

 

 

OTHER PREMISES   

 

The subject has a warehouse in Durban

 

 

OWNED OR LEASED

 

The head office premises are reported to be the home premises of A I Paruk and owned in a personal Trust, free of bond.  The warehouse premises are leased

 

The following estimated financial situation was submitted:

 

STOCK                                                                                           fluctuates on imports

LONG TERM LIABILITIES vehicles                                                                     R170 000

LOANS                                                                                                                      Nil

TURNOVER per month                                                                                   R1 400 000

 

 

AUDITORS

 

GOOLAM SABER AKJOOGE, Lenasia

 

 

YEAR END    

 

FEBRUARY

 

 

INSURANCE BROKERS

 

SAU

 

 

TRADE REFERENCES

 

PERIOD              HIGHEST       AVERAGE       TERMS     PAYMENT    EXPERIENCE

                          CREDIT         CREDIT                          PATTERN

1.                1 yr              R300 000       R250 000 -      30 days    30 days        Good

                          c/l                 R260 000

 

2.                1 yr+            R400 000       R400 000        30 days    30 days        Good

                                               fluctuates

 

 

COMMENTS

 

This is an established business that is not a general credit seeker locally.  The subject is considered equal to its normal business engagements.

 

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