MIRA
INFORM REPORT
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Report Date : |
10.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
LARGEDATA CC |
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Registered Office : |
1E Plantation Road,
Bedfordview, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
05.03.2004 |
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Com. Reg. No.: |
2004/021025/23 |
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Legal Form : |
Private Limited Comapny |
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Line of Business : |
Importers and
Distributors of Various Commodities |
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
LARGEDATA CC
TRADING NAME
BADWELL
PHYSICAL ADDRESS
1E Plantation Road
BEDFORDVIEW
Gauteng
POSTAL ADDRESS
P O Box 50485
RANDJESPARK
TELEPHONE NUMBER: 011 622 3303
FAX NUMBER: 011 622 3303
CELLULAR NUMBER: 083 570 1105/6
MEMBERS
100% D S DZUMBIRA (resident
in Zimbabwe) D.O.B. 730404
It was stated that the
Membership will be changing to 50% D S DZUMBIRA and 50% A T DZUMBIRA, his
brother
ASSOCIATE COMPANIES
AMADWALA TRADING 30 CC
LARGE DATA PVT LTD (in
Zimbabwe)
A B PETROLEUM PVT LTD
(in Zimbabwe)
SUNSET POINT PROPERTIES
76 CC (property owning company)
BANKERS
FIRST NATIONAL BANK,
Sandton City branch (254605), account number: 62065057010010. Further banking information was not
forthcoming from respondents at the subject.
DATE REGISTERED
5 March 2004
Registration Certificate
Number: 2004/021025/23
VAT NUMBER
No number traced at official sources. The number 4780213635 was submitted by the respondent. This number, however, was checked at official sources and belongs to AMADWALA TRADING 30 CC, the associate company. The respondent stated that he would revert with a VAT number but several attempts to get him to do this proved unsuccessful.
MAJOR OPERATION
Importers and
distributors of various commodities
MAJOR SUPPLIERS
PROCET FREIGHT
GET SPARES FOR AFRICA
SILVER RUBY TRADING
MOGWELE TRADING
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Wholesalers and
manufacturers
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
African countries
TOTAL EMPLOYEES
7
OTHER PREMISES
None
OWNED OR LEASED
The premises are
reported to be the home premises of A T DZUMBIRA, which are owned in his
personal capacity.
MEMBERS CONTRIBUTION
R100
The following estimated financial
situation was submitted:
STOCK R1 000 000
DEBTORS pay upfront
CREDITORS R 100 000
TURNOVER per month R1 500 000
AUDITORS
TEGELEX FINANCIAL
SERVICES, 083 714 1810
This is the name of the
auditors provided by the respondent but when someone named Dumisani was
contacted on the cell phone number he stated that the name of his business was
TELEGENIX CC. A search at CIPRO failed
to reveal registration details for the latter business.
YEAR END
DECEMBER
INSURANCE BROKERS
OLD MUTUAL
TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 1 yr declined R
50 000 30 days 30 days Very good
This references refers to AMADWALA TRADING 30 CC
2. 3 yrs R1 000 000 R500 000 30
days 30 days Very good
3. 2006 R1 000 000 R500 000 30
days 30 days Very good
One of the above suppliers stated that the purchases are delivered to
LARGE DATA PVT LTD in Zimbabwe but payment is made by the subject.
COMMENTS
This is an
established business meeting its commitments timeously. In view of our inability to trace a VAT
number for the subject through official sources, caution should be exercised in
dealings with the subject and any dealings should be on a payment upfront
basis. Please note that the Member is a
non-resident of South Africa.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.12 |
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UK Pound |
1 |
Rs.79.60 |
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Euro |
1 |
Rs.63.83 |
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%)