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MIRA
INFORM REPORT
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Report Date : |
24.10.2008 |
IDENTIFICATION DETAILS
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Name : |
NIMBA TRADING COMPANY
(PTY) LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
25.11.1996 |
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Com. Reg. No.: |
1996/016539/07. |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject acts as an Agent
for Overseas Companies by Importing and Distributing their products, mainly
Food. |
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
NIMBA TRADING COMPANY
(PTY) LTD
PHYSICAL ADDRESS
13 Drakenstein Street
PAULSHOF
Rivonia
Gauteng
POSTAL ADDRESS
P O Box 5068
RIVONIA
2028
TELEPHONE NUMBER: (011) 803
7685
FAX NUMBER: (011)
803 7688
The address of 22, 7th
Avenue, Parktown North and P O Box 464, Parklands 2121 is reported to belong to
the subjects auditors.
SHAREHOLDERS
100% K F RIHAOUI
ASSOCIATE COMPANIES
None
DIRECTORS
K F RIHAOUI (Sole
director) D.O.B. 630901
BANKERS
NEDBANK, Sandown Branch.
Account number 1933119152. It was stated
that the subject does not require overdraft facilities as credit balances are
normally maintained at the bank.
DATE REGISTERED
25 November 1996
Registration certificate
number 1996/016539/07.
The subject commenced
active operations in 1997.
VAT NUMBER
4060176494
MAJOR OPERATION
The subject acts as an
agent for overseas companies by importing and distributing their products,
mainly food.
MAJOR SUPPLIERS
The subject imports fruit, maize meal etc. worldwide and deals locally with FREIGHT MANAGEMENT in Cape Town.
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Retailers, wholesalers
and importers.
AREA OF DISTRIBUTION AND
SELLING
South Africa
EXPORTS
Mainly Africa and small
to Europe.
TOTAL EMPLOYEES
7
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be leased.
ISSUED SHARE CAPITAL
R100
Full financial
information was not forthcoming from respondents at the company. Nevertheless,
it was stated that the subject does not carry stock and that the turnover per
annum is R20 000 000.
AUDITORS
TICHAUER & ASSOCIATES, Johannesburg
YEAR END
FEBRUARY
INSURANCE BROKERS
ELY ALUS AND ASSOCIATES
TRADE REFERENCES – FEBRUARY 2004
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Dec’01 R100 000 R100 000 30
days 30 days+ Good
CURRENT TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 4 years+ R700 000 R350 000 30
days 30 days Very good
c/l R450 000
COMMENTS
This is an established
company, which imports most of its supplies.
The subject is meeting its only local commitment timeously. It is
suggested that dealings to an extent of $1 000 000 be on a well spread basis.
The lack of full financial information should be borne in mind.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.79 |
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UK Pound |
1 |
Rs.81.27 |
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Euro |
1 |
Rs.63.91 |
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%)