MIRA
INFORM REPORT
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Report Date : |
21.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
RHUBARB INTERNATIONAL IMPORTS CC |
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Registered Office : |
Old Castle Brewery Building, Unit G1, 6 Beach Road,
Woodstock, Cape Town, Western Cape |
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Country : |
South Africa |
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Date of Incorporation : |
09.09. 2002 |
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Com. Reg. No.: |
2002/074194/23 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and Distributors of Leather Goods |
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 : |
No Complaints |
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Litigation : |
Clear |
COMPANY NAME
RHUBARB INTERNATIONAL IMPORTS CC
TRADING NAME
INTERNATIONAL COLOURS
PHYSICAL ADDRESS
Old Castle Brewery Building
Unit G1
6 Beach Road
Woodstock
CAPE TOWN
Western Cape
POSTAL ADDRESS
P O Box 51675
WATERFRONT
8002
TELEPHONE NUMBER: 021 447 6830
FAX NUMBER: 021 447 8036
MEMBERS
100% B G BULTEMEIER ID No. 6505305072086
ASSOCIATE COMPANIES
STAL231 CC
BANKERS
STANDARD BANK, Thibault Square branch. It was stated that the subject enjoys overdraft facilities, secured by the personal guarantee of the Member. Utilisation is stated to fluctuate.
DATE REGISTERED
9 September 2002
Registration Certificate Number: 2002/074194/23
VAT NUMBER
4110202860
MAJOR OPERATION
Importers and distributors of leather goods
MAJOR SUPPLIERS
The subject imports most of its supplies and deals locally with:
SEA CASTLE FREIGHT
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Retailers
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
None
TOTAL EMPLOYEES
6
OTHER PREMISES
None
OWNED OR LEASED
Leased
MEMBERS CONTRIBUTION
R100
The following estimated financial situation was submitted:
STOCK R 1 500 000
DEBTORS R 2 000 000
CREDITORS R 500 000
OVERDRAFT R 250 000
TURNOVER per annum R13 000 000
AUDITORS
RALPH STANTON & ASSOCIATES
YEAR END
FEBRUARY
INSURANCE BROKERS
DIAGONAL
TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 1½ yrs R1 200 000 R1 000 000 30 days 30 days Very good
COMMENTS
This is an established business which is not a general credit seeker locally. The subject is meeting its one local commitment timeously. We have not traced dealings to an extent of US$1 000 000 over DA terms and suggest that dealings be to a far lesser amount spread over 90 days.
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%)