MIRA
INFORM REPORT
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Report Date : |
28.04.2011 |
IDENTIFICATION DETAILS
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Name : |
BELLA GEMS CC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
12.05.2006 |
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Com. Reg. No.: |
2006/073576/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
Wholesalers of gemstones |
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 : |
Usually Correct |
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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
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
COMPANY NAME
BELLA GEMS CC
Address
PHYSICAL ADDRESS:
COWIES HILL
POSTAL ADDRESS:
3610
TELEPHONE NUMBER
031 701 3094
FAX NUMBER
031 304 3326
CELL NUMBER
082 576 9313 (MRS J W CARDWELL)
MEMBERS
90% MRS J W CARDWELL ID. No. 6301080033083
10% I CARDWELL ID.
No. 5308045086081
ASSOCIATE COMPANIES
None
BANKERS
INVESTEC Grayston branch. The subject is stated to
have overdraft facilities that are secured by the members guarantees. The
utilisation of the overdraft is stated to be nil as credit balances are
maintained at the bank.
DATE REGISTERED
12 May 2006
Registration Certificate Number: 2006/073576/23
It was stated by the
respondent that MRS J W CARDWELL was employed in the jewellery industry for
many years.
The company has been put
into the deregistration process for annual return non-compliance.
It was stated by the respondent that they
have sorted out the issue with CIPRO in 2010 and that CIPRO still haven’t
corrected the.
VAT NUMBER
4200228999
TAX NUMBER
9118269167
MAJOR OPERATION
Wholesalers of gemstones
MAJOR SUPPLIERS
It was stated that the subject imports 90% of its
supplies and deals locally with:
UNITY DIAMONDS
UNITED GEMS
FEDEX
UPS
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Jewellers
AREA OF DISTRIBUTION AND SELLING
EXPORTS
None
TOTAL EMPLOYEES
1
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be an office at the
home premises which are owned by I CARDWELL in his personal capacity.
MEMBERS CONTRIBUTION
R100
Full financial information was not forthcoming from
the respondent at the subject, however, an e-mail questionnaire was forwarded
to which they will respond. We await a
reply. Nevertheless, the following
estimated financial situation was submitted as at March 2009:
STOCK R500
000
DEBTORS R
35 000
CREDITORS Nil
TURNOVER per annum R900
000
AUDITORS
CHRISTOPHER JOOSTE
YEAR END
FEBRUARY
INSURANCE BROKERS
UNINSURED
TRADE REFERENCES – MARCH 2009
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
10 years+ Open Varies 30 / 60 / 90 days Good
(seasonal
- terms depend on the purchase amount)
3 years Open R15 000 - 30
days 14 days Excellent
R25 000 (client is regarded as good for
amounts up to R500 000 by this supplier)
C.O.D. ±R3
000 on average
Do not give trade
references.
CURRENT TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
Unable to obtain a
trade reference
±4 years R100 000± R50 000± 30 days 30
days Very Good
Do not give trade references
Do not have such an account
COMMENTS
This is an established business which imports most of its supplies. The
subject is meeting its one local commitment timeously. We have not traced dealings to an extent of
US$1 000 000 and would prefer to see a far lesser amount spread and
secured. The lack of updated 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.44.40 |
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1 |
Rs.73.26 |
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Euro |
1 |
Rs.65.17 |
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 |
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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NB |
New Business |
-- |
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.