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MIRA
INFORM REPORT
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Report Date : |
28.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
DYNOTHERM (PTY) LTD |
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Registered Office : |
7 Salinga Road, Howick Industrial Area, Howick, Kwa –Zulu Natal |
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Country : |
South Africa |
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Date of Incorporation : |
23.04.1987 |
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Com. Reg. No.: |
1987/001702/07 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture of Friction Material. |
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
DYNOTHERM (PTY) LTD
PHYSICAL ADDRESS
7 Salinga Road
Howick Industrial
Area
HOWICK
Kwa –Zulu Natal
POSTAL ADDRESS
P O Box 76
MERRIVALE
3291
TELEPHONE NUMBER: 033 330 5193
FAX NUMBER: 033 330 6592
SHAREHOLDERS
51% AFRICAN VENTURES TRUST in which G C CANTARELLI is involved
49% DOBERMAN TRUST in which A CANTARELLI is a Trustee
The Shareholding was previously G C CANTERELLI and F J HAWLEY having changed in September 2007.
ASSOCIATE COMPANIES
DIANE SECURITIES (PTY) LTD
DIRECTORS
G C CANTARELLI ID No. 4209205047106
A CANTERELLI (son) ID No. 7104275193087
BANKERS
NEDBANK, Kwazulu Natal Business branch, account number 1648107219. It was stated that the subject enjoys an overdraft facility secured by a cession of debtors. Utilisation is stated to be nil as credit balances are normally maintained at the bank.
DATE REGISTERED
23 April 1987
Registration Certificate Number 1987/001702/07
VAT NUMBER
4880113099
MAJOR OPERATION
The manufacture of friction material.
MAJOR SUPPLIERS
The subject imports 50% of it supplies and deals locally with:
NCS RESINS
SERVOCHEM Durban
STEEL & PIPE Pietermaritzburg
MICON ENGINEERING Durban
IDWALA FREIGHT Durban
EXPEDITORS Johannesburg
CARST & WALKER Johannesburg
SI GROUP
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Motor vehicle manufacturers, industry, large mining companies and truck companies.
AREA OF DISTRIBUTION AND SELLING
South Africa
EXPORTS
Canada, Australia and USA.
TOTAL EMPLOYEES
75
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be owned by the associate property owning company.
AUTHORISED SHARE CAPITAL
R1000 divided into 1000 ordinary shares of R1 each
ISSUED SHARE CAPITAL
R100
Full financial information was not forthcoming from respondents at the company and outside authorities were unable to assist in this respect.
AUDITORS
PRICEWATERHOUSECOOPERS
YEAR END
FEBRUARY
INSURANCE BROKERS
HOLLARD
TRADE REFERENCES – OCTOBER 2002
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. Few yrs R50
000 R30 000- 30 days 30 days Very
good
R50 000
2. 2 yrs+ R5
000 R 5 000 30
days 30 days Good
3. 3 yrs+ fluctuates R20 000- 30 days 30
days Very good
R40
000
CURRENT TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 10 yrs Good
for R100 000 30 days 30 days Very
good
2. 01/2008 R400
000 R250 000 30 days 30 days Very
good
c/l
3. 5 yrs declined declined 30 days 30
days Very good
COMMENTS
This is an established company meeting commitments timeously. We have not traced dealings to an extent of $1 000 000 over DA terms and would prefer to see a far lesser amount spread and secured. The lack of 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%)