MIRA
INFORM REPORT
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Report Date : |
30.08.2011 |
IDENTIFICATION DETAILS
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Name : |
MULTI FABRICS CC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
28.04.1989 |
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Com. Reg. No.: |
1989/013365/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
Trading in Fabrics |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 |
Assessment
This is an established business that imports most of its
supplies.
The business only contains the 2 members.
The subject has made payments up to R1 500 000
over 30 days, with its clearing agent.
Financials were declined as well as bank details.
We therefore are not in a position to recommend dealings.
Company Information
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Registered Name |
MULTI FABRICS CC |
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Trading as/ Division Name |
None |
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Previous Name |
None |
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Date of Name Change |
N/A |
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Registration Number |
1989/013365/23 |
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Registration Date |
1989-04-28 |
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Date Commenced Trading |
1989 |
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History of Business |
The subject commenced as a new business in 1989 |
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Members of subject and
% holding |
50% M MOTTIAR 50% A MOTTIAR |
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Members Contribution |
R100 |
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Age of Company |
22 years 4 months |
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Status |
In Business |
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Operations Assessment |
Trading in Fabrics |
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Industry/ Customers |
Wholesalers |
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Export |
Neighbouring Countries |
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Major Industry Code / SICC |
61310 Wholesale Retail |
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Definition of Code |
Wholesale trade in textiles clothing and footwear. |
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Head Office Physical Address |
INDUSTRIA |
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Head Office Postal Address |
FORDSBURG 2033 |
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Current Tel Number Cell number |
011 4740755 082 7831223 |
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Current Fax Number |
086 5564512 |
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Current Email Address |
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Web Site Address |
None |
Auditors Information
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Company Registered Name |
MOHAMMED KAROLIA JEENA |
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Contact Person |
MOHAMMED |
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Contact Number |
082 8264022 (not available on cell phone) |
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SAICA number |
920037E |
Previous Auditors
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Company Name/ Tel |
Time With Previous Auditors |
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M |
Unknown |
Tax Information
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Vat Number |
4320184474 |
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Status |
Active |
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Vat Liable Date |
25th September 2011 |
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Tax Number |
Declined |
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Tax Clearance Expire Date |
February |
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Financial Year End |
February |
Black Economic Empowerment
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Status |
None |
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Score |
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Expire Date |
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BEE Certificate Available |
No |
ISO Status
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Type
of ISO Grade |
None |
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ISO Certificate |
No |
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ISO Certificate Available |
No |
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Certified by an Accredited Agent |
No |
Workman’s compensation
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Registered |
No |
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Compliance Certified |
No |
Company Structure
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Branches |
None |
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Subsidiary Company |
None |
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Shareholding |
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Registration Number |
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Import / Export |
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Number of Employees |
Only the 2 members |
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Salaried employees |
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Waged employees |
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Permanent employees |
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Casual employees |
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Contracted employees |
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Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding Balance |
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Fleet Operations |
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The Fleet is made up of |
None |
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Cars |
2 personally owned |
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Light Delivery Vehicles |
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Trailers |
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Busses |
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Trucks |
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Fork Lifts |
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Other |
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Head Office Owned/ Rented |
Rented |
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Rental Company |
CLEVE |
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Owned by |
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Value |
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Bond |
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Bank |
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Lease Agreement |
1 year |
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Lease Expire Date |
April 2012 |
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Type of Premises |
Warehouse |
Trade References
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Supplier |
Contact |
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MARINECON |
082 9033055 Ahmed |
Trade References
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Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
5 years |
R1 500 000 |
R1 500 000 |
30 days |
R1 000 000-R1 500 000 |
30 days |
Very Good |
Adverse Information on Subject
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Judgements |
None |
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Possible Judgements |
None |
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Civil Court |
None |
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RDs |
None |
Default Data
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Date |
Details |
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None |
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Notarial Bonds
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Date |
Details |
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None |
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Deeds Information
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Property
Interest |
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Property Type: |
None |
Stand Number: |
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Street Number: |
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Street Name: |
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Municipal Suburb: |
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Township Name: |
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Province: |
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Deeds Office: |
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Transfer ID: |
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Title Deed Number: |
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Purchase Date: |
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Transfer Date: |
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Erf Size: |
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Sold Price: |
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Bank Information
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Bank |
HABIB OVERSEAS BANK |
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Branch |
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Bank Account Number |
Declined |
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Type of Account |
Declined |
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Branch Code |
701505 |
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Account Name |
MULTI FABRICS CC |
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Overdraft Facilities |
Declined |
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Date Opened |
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Bank Code |
None Obtained, need account number |
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Bank Comment |
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Bank Codes History
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Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
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None |
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Previous Bank Accounts
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Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
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None |
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Financial Information
Financial
Estimates
The respondent declined to assist with any financial
information and stated he deals on an L C basis with overseas suppliers.
Principals
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Number of Principals |
2 |
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Average Age of Active Principals |
62 |
Active Principals
Principal
1 of 2
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Surname |
MOTTIAR |
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First Names |
ABDUL |
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ID Number |
3303155059053 |
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Verified ID Number |
Yes |
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Current Age |
78 |
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Designation |
Member |
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Status |
Active |
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Appointment Date |
Not on Record |
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Address (at time of Appointment) |
HOUGHTON 2198 |
Adverse Information on Principal
Judgement
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Number of Judgements |
None |
Debt Review
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Debt review |
None |
Other
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Default data |
None |
Business Information on Principal
Current Business Interests
|
Company Name |
Registration
No |
Status |
Judgements |
Liquidation |
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MOSSBAY PROPERTY INVESTMENTS (PTY)
LTD |
1988/006569/07 |
In Business |
0 |
No |
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IPS FOODS CC |
1988/023563/23 |
Conversion CC/CO or CO/ CC |
0 |
No |
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FORUM TEXTILES CC |
1989/008328/23 |
Deregistration Process |
0 |
No |
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ONE TWO FOUR CROWN EXTENSION CC |
1991/024244/23 |
In Business |
0 |
No |
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1994/029125/23 |
In Business |
0 |
No |
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TDF DISTRIBUTORS CC |
1999/058402/23 |
In Business |
0 |
No |
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DATRO TECH 11 (PTY) LTD |
2001/006447/07 |
Deregistration Process |
0 |
No |
Previous Business Interests
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Average Age of Previous Business
Interests |
12.8 years |
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Company
Name |
Registration
No |
Status |
Judgements |
Liquidation |
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PROTEA TEXTILES CC |
1991/014028/23 |
Voluntary Liquidation |
0 |
Yes |
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CHILLERS (PTY) LTD |
1996/001400/07 |
Voluntary Liquidation |
0 |
Yes |
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CHANYARON INVESTMENTS CC |
1996/044680/23 |
In Business |
0 |
No |
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APX PHARMA DISTRIBUTORS (PTY) LTD |
2003/002511/07 |
In Business |
0 |
No |
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ERF 97 LEA GLEN TOWNSHIP (PTY) LTD |
2006/011433/07 |
In Liquidation |
0 |
Yes |
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
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Title Deed No. |
None |
Erf/Site No. |
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Deeds Office |
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Physical Address |
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Property Type |
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Extent / Size |
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Purchase Date |
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Purchase price |
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% Ownership |
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Bond Holder |
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Bond Number |
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Bond Amount |
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Principal
2 of 2
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Surname |
MOTTIAR |
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First Names |
MAHHMAD |
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ID Number |
6406185228087 |
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Verified ID Number |
Yes |
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Current Age |
47 |
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Designation |
Member |
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Status |
Active |
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Appointment Date |
Not on Record |
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Address (at time of Appointment) |
HOUGHTON 2198 |
Adverse Information on Principal
Judgement
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Number of Judgements |
None |
Debt
Review
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Debt review |
None |
Other
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Default data |
None |
Business Information on Principal
Current
Business Interests
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Company
Name |
Registration
No |
Status |
Judgements |
Liquidation |
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MOSSBAY PROPERTY INVESTMENTS (PTY) LTD |
1988/006569/07 |
In Business |
0 |
No |
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ONE TWO FOUR CROWN EXTENSION CC |
1991/024244/23 |
In Business |
0 |
No |
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1994/029125/23 |
In Business |
0 |
No |
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TDF DISTRIBUTORS CC |
1999/058402/23 |
In Business |
0 |
No |
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DATRO TECH 11 (PTY) LTD |
2001/006447/07 |
Deregistration Process |
0 |
No |
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CHANYARON INVESTMENTS CC |
1996/044680/23 |
In Business |
0 |
No |
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UNIVERSAL FIBRE CC |
2001/026849/23 |
In Business |
0 |
No |
Previous Business
Interests
|
Average Age of Previous Business Interests |
12.5 years |
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Company
Name |
Registration
No |
Status |
Judgements |
Liquidation |
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PROTEA TEXTILES CC |
1991/014028/23 |
Voluntary Liquidation |
0 |
Yes |
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ERF 97 LEA GLEN TOWNSHIP (PTY) LTD |
2006/011433/07 |
In Liquidation |
0 |
Yes |
Deeds Information
Property
Interests of Principle
|
Property
Interest |
|||
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Title Deed No. |
ST 36463/2004 |
Erf/Site No. |
2480,2 |
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Deeds Office |
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Physical Address |
HOUGHTON ESTATE |
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Property Type |
Sectional Title/ Unit |
Extent / Size |
169.0SQM |
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Purchase Date |
2004-03-16 |
Purchase price |
120000.0000 |
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% Ownership |
0.0000 |
Bond Holder |
|
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Bond Number |
I-23222003C |
Bond Amount |
0.0000 |
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Property Interest |
|||
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Title Deed No. |
ST96694/2007 |
Erf/Site No. |
1286,0 |
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Deeds Office |
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Physical Address |
LONEHILL SANDTON |
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Property Type |
Sectional Title/ Unit |
Extent / Size |
82.0SQM |
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Purchase Date |
2006-01-03 |
Purchase price |
728600.0000 |
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% Ownership |
0.0000 |
Bond Holder |
NEDBANK LTD |
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Bond Number |
SB1199382007 |
Bond Amount |
713600.0000 |
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Property Interest |
|||
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Title Deed No. |
ST96685/2007 |
Erf/Site No. |
1286,0 |
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Deeds Office |
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Physical Address |
LONEHILL SANDTON |
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Property Type |
Sectional Title/ Unit |
Extent / Size |
122.0SQM |
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Purchase Date |
2006-01-03 |
Purchase price |
898310.0000 |
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% Ownership |
0.0000 |
Bond Holder |
NEDBANK LTD |
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Bond Number |
SB1199312007 |
Bond Amount |
883310.0000 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.87 |
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|
1 |
Rs.75.14 |
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Euro |
1 |
Rs.66.67 |
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 |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.