MIRA
INFORM REPORT
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Report Date : |
04.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
MULTISURGE CC |
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Registered Office : |
Unit 1, Wadeville
Industrial Village, 6 Crocker Road, Wadeville Ext 6, Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
12.08.1997 |
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Com. Reg. No.: |
1997/043621/23 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing and
Wholesaling |
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
MULTISURGE CC
PHYSICAL ADDRESS
Unit 1
Wadeville Industrial
Village
6 Crocker Road
WADEVILLE EXT 6
Gauteng
POSTAL ADDRESS
P O Box 167702
BRACKENDOWNS
1454
TELEPHONE NUMBER: 011 902 1216
FAX NUMBER: 011 902 1317
CELLULAR NUMBER: 082 551 8353
MEMBERS
R REWACHANDA ID No. 7201010198080
ASSOCIATE COMPANIES
None
BANKERS
NEDBANK, account number:
1915119618. It was stated that the
subject enjoys overdraft facilities to an extent of R12 million, secured by a cash
deposit of R10,5 million. Utilisation
is stated to be R4 million at present.
DATE REGISTERED
12 August 1997
Registration Certificate
Number: 1997/043621/23
VAT NUMBER
4840167755
MAJOR OPERATION
Importing and
wholesaling
MAJOR SUPPLIERS
The subject imports most
of its supplies from:
SWORD WUHAN CO, LTD
China (+86 27 857 7950)
JIANGSU PROVINCE
JIANERKENG China (+86 519 244 1138)
ANUIKANGAA MEDICAL
PRODUCTS CO. LTD China (+86 550 709 3889)
BIOMED HEALTHCARE
PRODUCTS India (+29 225 0750)
SURGIMED MEDICAL
SUPPLIES CO India (+86 575 861 8008)
and deals locally with:
NELSON FREIGHT
EXCELLENCE FORWARDING
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Government and private
hospitals
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
Lesotho, Swaziland, Botswana, Namibia, Mozambique, Zambia, Angola, DRC, Malawi and Zimbabwe
TOTAL EMPLOYEES
16
OTHER PREMISES
The subject has branches
in Durban and Cape Town
OWNED OR LEASED
Leased
MEMBERS CONTRIBUTION
R100
The following estimated
financial situation was submitted:
STOCK R11 000 000
DEBTORS R12 000 000
CASH R14 000 000
CREDITORS R 3 000 000
OVERDRAFT R 4 000 000
LOANS for vehicles R
1 000 000
CAPITAL EMPLOYED R 3
000 000
TURNOVER per month R 6
000 000
TURNOVER per annum R70 000 000
AUDITORS
JLC DE WAAL
YEAR END
FEBRUARY
INSURANCE BROKERS
OUTSURANCE
TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2 yrs R1 500 000 R
50 000 - 30 days 30 days Excellent
c/l R300 000
2. COD account
COMMENTS
This is an
established business that is not a general credit seeker locally. The subject is meeting its one obtainable
commitment timeously. The subject is
considered equal to its normal business engagements but a figure of
US$1 000 000 DA is considered too high.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.34 |
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UK Pound |
1 |
Rs.82.96 |
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Euro |
1 |
Rs.65.82 |
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%)