MIRA INFORM REPORT

 

 

Report Date :

25.01.2011

 

IDENTIFICATION DETAILS

 

Name :

P H MARKETING CC

 

 

Registered Office :

22 Hennie Alberts Street, Brackenhurst, Alberton, Gauteng

 

 

Country :

South Africa

 

 

Date of Incorporation :

13.01.2000

 

 

Com. Reg. No.:

2000/001198/23

 

 

Legal Form :

Closed Corporation

 

 

Line of Business :

Project Base Company

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

South Africa

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Note

(The information contained in this report, other than comment by outside authorities, has been voluntarily supplied by officials of the subject):

 

 

COMPANY NAME

 

P H MARKETING CC

 

 

PHYSICAL ADDRESS    

 

22 Hennie Alberts Street

Brackenhurst

Alberton

Gauteng

 

 

Postal Address        

 

P O Box 1925

Mulbarton

2059

Telephone Number:    011 867 6767

Fax Number:               011 867 0155

 

 

MEMBERS

 

100%    V DHAWAKIERAM        ID No. 6912160048088

 

 

ASSOCIATE COMPANIES

 

None

BANKERS

 

STANDARD BANK, Glen Shopping Centre Branch (6005), Account Number:  003040097.  It was stated that the subject enjoys overdraft facilities to an extent of R50 000, unsecured.  Utilisation is nil as credit balances are normally maintained at the bank.

 

 

DATE REGISTERED

 

13 January 2000

Registration Certificate Number 2000/001198/23

 

The subject was commenced as a new business.

 

 

VAT NUMBER          

 

4070192952

 

 

MAJOR OPERATION

 

Respondents stated that the subject is a project base company e.g. transmission line projects.  The subject imports and distributes insulators and overhead line conductors.

 

 

MAJOR SUPPLIERS

 

The subject imports from Germany and India and deals with the following South African suppliers:

 

ROHLIG  Johannesburg

ARGUS FREIGHT  Johannesburg

ATLAS CABLES  Johannesburg

ASSOCIATION CABLES  Johannesburg

LITECOR  Randburg

ARB  East London

VOLTEX (T & D division)  Johannesburg

 

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

 

Electricity supply companies such as ESKOM and municipalities

 

AREA OF DISTRIBUTION AND SELLING   

 

South Africa

 

 

EXPORTS

 

None

 

 

TOTAL EMPLOYEES

 

10

 

 

OTHER PREMISES   

 

None

 

 

OWNED OR LEASED

 

The premises are reported to be owned by the subject and valued in the region of R1 800 000 and stated to be free of bond.

 

 

MEMBERS CONTRIBUTION

 

R100

 

Full financial information was not forthcoming from respondents at the company.  Nevertheless, it was stated that the subject purchases stock as per project, monthly debtors fluctuate and the annual turnover is stated to be ±R40 000 000, excluding commission.  Respondents stated that the subject works on a tender basis.

 

 

ACCOUNTING OFFICER

 

J R RAWAT  Benoni (Tel No. 011 423 2535)

 

YEAR END         

 

FEBRUARY

 

 

INSURANCE BROKERS 

 

PRESTMARINE

 

 

TRADE REFERENCES – MARCH 2007 

 

                        ACCOUNT   HIGHEST    AVERAGE    TERMS   PAYMENT    EXPERIENCE

                        OPENED      CREDIT       CREDIT                      PATTERN

 

1a.                    May’03         R100 000     confidential   30 days   30 days        Good

                                           c/l                      2½%

 

1b.                    May’03         R100 000     confidential   30 days   30 days        Good

                                           c/l                      2½%

 

2.                     May’05         R2 mill        R500 000      30 days   30 days        Very Good

                                           c/l                      2½%

 

 

CURRENT TRADE REFERENCES

 

                  ACCOUNT    HIGHEST       AVERAGE       TERMS     PAYMENT    EXPERIENCE

                  OPENED      CREDIT         CREDIT                          PATTERN

 

1.                2004             R1 600 000    R200 000+      30 days    30 days        Very Good

                                      c/l                                       5%           5%

 

2.                March 2005   R700 000       R500 000-       30 days    30 days        Very Good

                                      c/l                 R700 000

 

3.                 Dormant account

 

4.                 Satisfactory account

COMMENTS

 

This is an established business, meeting its commitments timeously.  The subject is considered equal to its normal business engagements.  The lack of full financial information should be borne in mind together with the fact that the subject is reliant on projects.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.58

UK Pound

1

Rs.72.79

Euro

1

Rs.62.01

 

 

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%)

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.