MIRA INFORM
REPORT
|
Report Date : |
15.04.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
NEEL CC |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
26.01.1998 |
|
|
|
|
Com. Reg. No.: |
1998/003810/23 |
|
|
|
|
Legal Form : |
Closed Corporation |
|
|
|
|
Line of Business : |
Wholesalers of farm implements, hardware and related products |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment
Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Notes:
(The
information contained in this report, other than comment by outside authorities,
has been voluntarily supplied by Officials of the subject):
COMPANY
NAME
NEEL CC
TRADING
NAME
FARM IMPLEMENTS
PHYSICAL
ADDRESS
Chiselhurst
POSTAL
ADDRESS
5200
Telephone Number: 043 727 0241
Fax Number: 043 727 0240
MEMBERS
34% OCTNEEL TRUST
33% D P KAHTS ID
No. 6805275023008
33% P C KAHTS ID
No. 6912275024081
ASSOCIATE
COMPANIES
CHISELHURST INDUSTRIAL PARK (PTY) LTD
(Registration Certificate Number: 1974/002910/07)
16 NAHOON CRESCENT CC
(Registration Certificate Number: 2010/078215/23)
It was stated that D P KAHTS is involved in the above mentioned businesses.
BANKERS
NEDBANK, Business Branch,
It was stated that the subject does not require overdraft facilities as credit balances are normally maintained at the bank.
DATE
REGISTERED
26
January 1998
Registration Certificate Number: 1998/003810/23
The subject converted from NEEL (PTY) LTD (Registration Certificate Number: 1957/002443/07) in January 1998.
It was stated that the subject has been in the KAHTS family since the early 1980’s.
VAT
NUMBER
4050101213
MAJOR
OPERATION
Wholesalers of farm implements, hardware and related products.
MAJOR
SUPPLIERS
The subject imports from various countries.
The names of the subject’s major suppliers were declined by the respondent.
MAJOR
CUSTOMERS OR BUSINESS SECTORS
Agricultural
sector such as retailers and cooperatives
AREA
OF DISTRIBUTION AND SELLING
Eastern
and Southern
EXPORTS
None
TOTAL
EMPLOYEES
25 permanent employees
OTHER
PREMISES
The subject has a
branch in
OWNED
OR LEASED
The heading premises are reported to be owned by CHISELHURST
INDUSTRIAL PARK (PTY) LTD, while the
MEMBERS
CONTRIBUTION
R100
Full financial information was not forthcoming from respondents at the subject and outside authorities were unable to assist in this regard.
AUDITORS
BIRCH BRUCE, Vincent
YEAR
END
FEBRUARY
INSURANCE
BROKERS
GLENRAND MIB
TRADE
REFERENCES
Not applicable
COMMENTS
This is an established close corporation, which converted from a private company. In view of the lack of a payment pattern and financial information on the subject, we are not in a position to recommend credit dealings to an extent of US$1 000 000 and suggest that all dealings be undertaken on a letter of credit or secured basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.48 |
|
|
1 |
Rs.72.37 |
|
Euro |
1 |
Rs.64.42 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.