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MIRA
INFORM REPORT
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Report Date : |
04.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
WIDNEY TRANSPORT
COMPONENTS (PTY) LTD |
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Registered Office : |
49 Potgieter Street,
Alrode, Alberton, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
23.10.1968 |
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Com. Reg. No.: |
1968/012451/07 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturers of
Sliders and Windows for Busses and Trains |
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
WIDNEY TRANSPORT
COMPONENTS (PTY) LTD
PHYSICAL ADDRESS
49 Potgieter Street
Alrode
ALBERTON
Gauteng
POSTAL ADDRESS
P O Box 17291
RANDHART
1457
TELEPHONE NUMBER: 011 439 9300
FAX NUMBER: 011 908 1856
SHAREHOLDERS
70% P G GROUP (PTY) LTD
30% PHATSIMA (PTY) LTD (Black Economic
Empowerment)
(BEE Company)
ASSOCIATE COMPANIES
Companies within the P G
GROUP (PTY) LTD group of companies
DIRECTORS
M S CAREW ID No. 5807035036089
S R JENNINGS ID No. 5112125029080
N J MALAO ID No. 5508025822088
H S P MASHABA ID No. 5908265731082
R C WALSH ID No. 7203265047087
M WILLIAMSON ID No. 5506050094185
BANKERS
ABSA BANK, Alberton
branch. It was stated that the subject
does not require overdraft facilities but obtains inter-company finance through
P G GROUP (PTY) LTD.
DATE REGISTERED
23 October 1968
Registration Certificate
Number: 1968/012451/07
VAT NUMBER
4100218587
MAJOR OPERATION
Manufacturers of sliders
and windows for busses and trains
MAJOR SUPPLIERS
The subject purchases
mainly from the P G Group and deals locally with:
DHL
WISPECO
STAFF DYNAMICS
ABG ENGINEERING
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Bus and train
manufacturers and transport industry
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
None
TOTAL EMPLOYEES
45
OTHER PREMISES
None
OWNED OR LEASED
Leased
The following estimated
financial situation was submitted:
STOCK R10 000 000
DEBTORS R8 000 000 – R 9 000 000
FIXED ASSETS R
4 000 000
CREDITORS R5 000 000 – R 6 000 000
LOANS ongoing
TURNOVER per annum R88 000 000
AUDITORS
KPMG
YEAR END
DECEMBER
INSURANCE BROKERS
GLENRAND MIB
TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Do not give trade
references
2. 7 years R500 000 R350 000 30
days 30 days Good
c/l
3. 12 years declined declined 30
days 30 days Very good
4. 7 years± R150 000 R100 000 30
days 30 days Very good
COMMENTS
This is an
established and well connected company meeting commitments timeously. We have
not traced dealings to an extent of $1 000 000 over DA terms and would prefer
to see such a figure on a spread basis.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.88 |
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UK Pound |
1 |
Rs.82.97 |
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Euro |
1 |
Rs.64.99 |
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%)