MIRA INFORM
REPORT
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Report Date : |
25.01.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
ASA BRAKE AND CLUTCH CC |
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Formerly Known As : |
ASA CLUTCHES CC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
27.08.2008 |
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Com. Reg. No.: |
2008/184818/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Retailers of TVS brake linings |
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 : |
Small Company |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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
ASA CLUTCHES CC
PHYSICAL ADDRESS
Unit 21, Block E
Crown Mines
POSTAL ADDRESS
Crown Mines
2025
Telephone Number: 011 839 0869
On investigation it was established that the subject has changed its name to ASA BRAKE AND CLUTCH CC, which report should be consulted.
Note:
(The
information contained in this report, other than comment by outside
authorities, has been voluntarily supplied by Officials of the subject):
COMPANY NAME
ASA BRAKE AND CLUTCH
CC
· Formerly ASA CLUTCHES CC, the name having been changed on January 2009.
· Formerly SUBLIMOR 17 CC, the name having been changed as at 13 October 2008.
TRADING NAME
BRAKE FORCE GAUTENG
PHYSICAL ADDRESS
Primrose
Germiston
POSTAL ADDRESS
Primrose
1416
TELEPHONE NUMBER: 011 839 0869 / 822 5419
FAX NUMBER: 011 830 1307 / 822
4989
It was stated by respondents that the subject moved from the
premises
MEMBERS
A M BOTHA ID No: 5601315051086
G HARRIS was previously stated to be a member of the subject but he has since resigned.
ASSOCIATE COMPANIES
None
BANKERS
ABSA BANK, Alberton Branch. Acc. No. 4072881357. Full banking information was not forthcoming from respondents at the subject and outside authorities were unable to assist in this regard.
DATE REGISTERED
27 August 2008
Registration Certificate Number: 2008/184818/23
The antecedents of the members were not known to respondents at the subject.
VAT NUMBER
4720251588
MAJOR OPERATION
Retailers
of TVS brake linings
MAJOR SUPPLIERS
The subject imports 98% of its suppliers and deals locally with:
LOGWIN,
MAJOR CUSTOMERS OR BUSINESS SECTORS
Clutch
and brake industry
AREA OF DISTRIBUTION AND SELLING
TOTAL EMPLOYEES
15
OTHER PREMISES
None.
OWNED OR LEASED
Further information
was not forthcoming from respondents.
Financial information was not forthcoming from respondents at the subject and outside authorities were unable to assist in this regard.
AUDITORS
CHARTER
& FINANCIAL GROUP Tel. 011 483 0911
YEAR END
FEBRUARY
INSURANCE BROKERS
Unknown
TRADE REFERENCES – JANUARY 2009
Not Applicable
CURRENT TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. March
2010 R300 000 R300 000 60 days 60 days Good
c/l
COMMENTS
This is an established business meeting its local commitment timeously. We have not traced dealings to an extent of US$1 000 000 DA terms and would prefer to see a far lesser amount spread and secured.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.58 |
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1 |
Rs.72.79 |
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Euro |
1 |
Rs.62.01 |
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 |
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.