MIRA
INFORM REPORT
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Report Date : |
11.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUCHAR TRADE LINKS CC |
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Registered Office : |
163 Gold Reef Sands,
Northern Parkways Road, Ormonde, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
14.08.2007 |
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Com. Reg. No.: |
2007/156523/23 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesaling of
Clothing and Home Furnishing |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
COMPANY NAME
SUCHAR TRADE LINKS CC
PHYSICAL ADDRESS
163 Gold Reef Sands
Northern Parkways Road
ORMONDE
Gauteng
POSTAL ADDRESS
As above
TELEPHONE NUMBER: 011 496 3451
FAX NUMBER: 011 496 3451
CELLULAR NUMBER: 083 409 8683
MEMBERS
70% ANIL SHARMA (uncle) ID No. Z1402090
30% AKIL SHARMA (nephew) ID No. G1599596
ASSOCIATE COMPANIES
None
BANKERS
ABSA BANK, Fordsburg branch
and HABIB BANK, Johannesburg branch. It
was stated that the subject does not require overdraft facilities as credit
balances are maintained at the bank.
DATE REGISTERED
14 August 2007
Registration Certificate
Number: 2007/156523/23
It was stated that ANIL
SHARMA previously had his own similar business and his nephew worked with him
in that business for a number of years
VAT NUMBER
Awaiting VAT number
MAJOR OPERATION
Wholesaling of clothing
and home furnishing
MAJOR SUPPLIERS
The subject imports all
of its supplies and deals locally with:
L N SHIPPING
Johannesburg
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Retailers, wholesalers
and general public
AREA OF DISTRIBUTION AND SELLING
Local & surrounds
EXPORTS
None
TOTAL EMPLOYEES
5
OTHER PREMISES
None
OWNED OR LEASED
Leased
MEMBERS CONTRIBUTION
R100
Full financial
information was not forthcoming from respondents at the subject, however, it
was stated that the monthly turnover is R100 000.
AUDITORS
A H KHAN & CO
YEAR END
FEBRUARY
INSURANCE BROKERS
NONE
TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2008 declined to give a trade
reference Problematic
COMMENTS
This is a new business
that seems to be experiencing cash flow problems. It is suggested all dealings be on a letter of credit basis only.
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%)