MIRA
INFORM REPORT
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Report Date : |
21.10.2008 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Buiten Kloof Studios, |
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Country : |
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Date of Incorporation : |
15.03. 2002 |
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Com. Reg. No.: |
2002/021789/23 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Designing,
Facilitating, Ordering and Importing of Men’s Quality Clothing |
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
PHYSICAL ADDRESS
Buiten Kloof Studios
Gardens
POSTAL ADDRESS
KLOOF STREET
8008
TELEPHONE NUMBER: 021 422 3649
FAX NUMBER: 021 422 0701
CELLULAR NUMBER: 082 451 6878
MEMBERS
100% G B SANSON ID
No.5101025090086
ASSOCIATE COMPANIES
PURPLE MOSS CC (property
owning company)
BANKERS
NEDBANK, Gardens Centre
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
15 March 2002
Registration Certificate
Number: 2002/021789/23
VAT NUMBER
4900202245
MAJOR OPERATION
Designing, facilitating,
ordering and importing of men’s quality clothing
MAJOR SUPPLIERS
The subject imports most
of its supplies and deals locally with:
BLUE STRATA TRADING
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Blue chip companies i.e.
Truworths, Cape Union Mart
AREA OF DISTRIBUTION AND SELLING
EXPORTS
None
TOTAL EMPLOYEES
3
OTHER PREMISES
None
OWNED OR LEASED
The premises are
reported to be owned by the associate property owning company
MEMBERS CONTRIBUTION
R100
Full financial
information was not forthcoming from respondents at the subject, however, it
was stated that the average annual turnover is R28 million
AUDITORS
MKD CHARTERED
ACCOUNTANTS (SA)
YEAR END
FEBRUARY
INSURANCE BROKERS
UNISON RISK MANAGEMENT
TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 3 yrs R11 000 000 R2 500 000 30
days 30 days Excellent
COMMENTS
This is an
established business which imports most of its supplies. The subject is meeting its local commitment
timeously. We have not traced dealings
to an extent of $1 000 000 DA and it is suggested that such dealings be
undertaken 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.48.83 |
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1 |
Rs.85.12 |
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Euro |
1 |
Rs.65.86 |
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%)