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MIRA
INFORM REPORT
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Report Date : |
26.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
SATRADE (PTY) LTD |
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Registered Office : |
7A Corporate Park, Umhlanga Ridge Drive, Umhlanga Rocks,
Kwa-Zulu Natal |
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Country : |
South Africa |
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Date of Incorporation : |
12.10.1993 |
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Com. Reg. No.: |
1993/006013/07 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Agents – Buying and Selling of Commodities mainly Sugar at
present. |
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 : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
S A TRADE (PTY) LTD
POSTAL ADDRESS
P O Box 2181
BEDFORDVIEW
2007
On investigation it was established
that the correct registered name of the subject is SATRADE (PTY) LTD, which
report should be consulted.
It was stated by a
respondent that the postal address of P O Box 2181, Bedfordview, 2008 is
reported to be that of one of the subject’s suppliers named SECTOR 5 TRADING 57
(PTY) LTD.
COMPANY NAME
SATRADE (PTY) LTD
PHYSICAL ADDRESS
7A Corporate Park
Umhlanga Ridge Drive
UMHLANGA ROCKS
Kwa-Zulu Natal
POSTAL ADDRESS
P O Box 354
UMHLANGA RIDGE
4320
TELEPHONE NUMBER: 031 566 6920
FAX NUMBER: 031 566 6866
The address of 5 San
Vito, George Road, Bryanston, Gauteng is reported to be a previous address of
the subject.
SHAREHOLDERS
100% MRS M E BROWN
ASSOCIATE COMPANIES
M E BROWN is reported to have a property company which owns her home premises.
DIRECTORS
MRS M E BROWN ID No: 4310020137181
BANKERS
FIRST NATIONAL BANK, Davenport, account number 62130030480. It was stated that the subject does not require overdraft facilities as credit balances are maintained at the Bank.
DATE REGISTERED
12 October 1993
Registration Certificate Number: 1993/006013/07.
VAT NUMBER
4080147053
MAJOR OPERATION
Agents – buying and selling of commodities mainly sugar at present.
MAJOR SUPPLIERS
GOLD KEYS Durban
FOODMAC
TRADE WINDOWS Durban
SECTOR 5
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Corporates and businesses
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
None
TOTAL EMPLOYEES
3
OTHER PREMISES
None, however, the subject has a representative in Johannesburg.
OWNED OR LEASED
The premises are reported to be leased.
ISSUED SHARE CAPITAL
R100
Full financial information was not forthcoming from respondents at the subject, however, it was stated that the subject does not carry stock and there are no loans in the company. Turnover per month fluctuates between R1 000 000 to R2 000 000.
AUDITORS
BRUCE MORRISON AND ASSOCIATES
YEAR END
FEBRUARY
INSURANCE BROKERS
HAWKEYE BROKERS, 031 566 1245
TRADE REFERENCES – APRIL 2008:
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 5 yrs open R 70 000 - 30 days 30 days Very good
R 90 000
2. 2 yrs declined declined 30 days 30 days Excellent
3. 1 yr open R100 000 - 30 days 30 days Excellent
R300 000 varies
CURRENT TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. Old acc declined declined 30 days 30 days Very good
2. 8 yrs R200 000 R 80 000 - 30 days 30 days Excellent
R100 000
3. 10 yrs declined R300 000 - 30 days 30 days Very good
R400 000
COMMENTS
This is an
established business meeting its commitments timeously. We have not traced dealings to an extent of
$1 000 000 and would prefer to see a far lesser amount spread and secured. 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.46.43 |
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UK Pound |
1 |
Rs.85.38 |
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Euro |
1 |
Rs.67.95 |
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%)