MIRA INFORM REPORT

 

 

Report Date :

27.05.2008

 

IDENTIFICATION DETAILS

 

Name :

ALLBRO INDUSTRIES (PTY) LTD

 

 

Registered Office :

121, 13th Avenue, Anderbolt, Boksburg, Gauteng

 

 

Country :

South Africa

 

 

Date of Incorporation :

20.02. 1998

 

 

Com. Reg. No.:

1998/003057/07

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Electrical and Mechanical Engineers.

 

 

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

 

ALLBRO INDUSTRIES (PTY) LTD

 

 

PHYSICAL ADDRESS

 

121, 13th Avenue

Anderbolt

BOKSBURG

Gauteng

 

 

POSTAL ADDRESS   

 

P O Box 6699

DUNSWART

1508

TELEPHONE NUMBER:  011 894 8341

FAX NUMBER:  011 918 1072

 

 

SHAREHOLDERS

 

J A ALLAN

R J ALLAN

M SMITH

 

 

ASSOCIATE COMPANIES

 

ALLTRAVEL SERVICES (PTY) LTD

ALLBRO INDUSTRIAL MARKETING (PTY) LTD

ALGEHA PROPERTIES (PTY) LTD which is owned by J A ALLAN (property owning company)

 

 

DIRECTORS

 

J A ALLAN                    ID No. 4305135072089

R J ALLAN (Jnr) ID No. 7406255187082

M SMITH                       ID No. 6912030346084

 

 

BANKERS

 

NEDBANK, Dunswart Branch.  It was stated that the subject enjoys overdraft facilities, secured by a cession of debtors.  Utilisation is stated to be nil as normally credit balances are maintained.

 

DATE REGISTERED

 

20 February 1998

Registration Certificate Number 1998/003057/07

 

 

VAT NUMBER          

 

4710173164

 

 

MAJOR OPERATION

 

Electrical and mechanical engineers.

 

 

MAJOR SUPPLIERS

 

CHIMLUNG  Durban

NCS RESINS  Johannesburg

SCOTT BADER  Durban

PROTEA INDUSTRIAL CHEMICALS  Johannesburg

EXODOR  Johannesburg

 

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

 

Electrical industry

 

 

AREA OF DISTRIBUTION AND SELLING

 

South Africa

 

 

EXPORTS

 

Australia, New Zealand, UK and Namibia.

 

 

TOTAL EMPLOYEES

 

300

 

 

 

 

OTHER PREMISES   

 

The subject is reported to have site office in Boksburg North.

 

 

OWNED OR LEASED

 

The premises are reported to be owned by the associate property owning company.  The value of the premises was unknown to respondents at the subject.

 

 

ISSUED SHARE CAPITAL

 

R100

 

The following estimated financial situation was submitted:

 

DEBTORS         R3 000 000

CREDITORS      R1 000 000

LOANS Nil

TURNOVER per month   R2 500 000 – R3 000 000

 

 

AUDITORS    

 

PHILIP SHIFREN & CO, Johannesburg.  (011) 487 0558

 

 

YEAR END    

 

FEBRUARY

 

 

INSURANCE BROKERS 

 

INSURITE BROKERS

 

 

TRADE REFERENCES – MAY 2006

 

            ACCOUNT        HIGHEST         AVERAGE         TERMS             PAYMENT         EXPERIENCE

            OPENED           CREDIT           CREDIT                                    PATTERN

 

1.         10 yrs               R400 000          R  40 000          30 days             30 days             Very good

                                                            R160 000

 

2.         1999                 declined            declined            30 days             30 days             Very good

                                                                                    2.5%

 

3.         6 yrs                 R130 0000         R100 000          30 days             30 days             Very good

 

 

 TRADE REFERENCES – APRIL 2007

 

            ACCOUNT        HIGHEST         AVERAGE         TERMS             PAYMENT         EXPERIENCE

            OPENED           CREDIT           CREDIT                                    PATTERN

 

1.         Do not give trade references.

 

2.         2001                 R40 000            R  10 000          30 days             30 days             Good

 

3.         5 yrs                 open                 R200 000 -        30 days             30 days             Excellent

                                    R300 000

 

4.         8 yrs                 open                 R  50 000 -        30 days             30 days             Very good

                                    R200 000

 

 

CURRENT TRADE REFERENCES

 

            ACCOUNT        HIGHEST          AVERAGE         TERMS             PAYMENT         EXPERIENCE

            OPENED           CREDIT            CREDIT                                    PATTERN

 

1.         10 years            open                 R  50 000 -        30 days             30 days             Very good

                                                            R200 000          2.5%                 2.5%

 

2.         Do not give trade references

 

3.         Do not give trade references

 

4.         Do not give trade references

 

 

COMMENTS

 

This is an established business meeting its commitments timeously.  The subject is considered as 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