%20LTD%20-%20144976%2010-Jun-2011_files/image002.jpg){kind=small}
MIRA INFORM
REPORT
|
Report Date : |
10.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
FABRIC CORPORATION (PTY) LTD |
|
|
|
|
Formerly Known As : |
Mary-Lou (Pty) Ltd |
|
|
|
|
Registered Office : |
Site 53 cnr Andwe and Woodpecker Street, Fort Jackson, Eastern Cape |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
04.01.1994 |
|
|
|
|
Com. Reg. No.: |
1994/092554/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Importing and sale of home décor items. |
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 : |
No Complaints |
|
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
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
South Africa |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Assessment:
This is an established company, meeting its commitments timeously. No bank code could be obtained. The amount of US$1 000 000 is considered too high.
Company Information
|
Registered
Name |
Fabric Corporation (Pty) Ltd |
|
Trading
as/ Division Name |
Fabricor |
|
Previous Name |
Mary-Lou (Pty) Ltd |
|
Date of Name
Change |
1998 |
|
Registration
Number |
1994/092554/07 |
|
Registration
Date |
1994-01-04 |
|
Date Commenced
Trading |
1994 |
|
History of
Business |
The company has been trading originally since 1984, and undergone
restructuring over the years. |
|
Shareholders of
subject and % holding |
100% Mr Pieter Andre Van Niekerk |
|
Authorised Share
Capital |
Nominal |
|
Issued Share
Capital |
Nominal |
|
Age of Company |
15 years |
|
Status |
Active |
|
Industry/
Customers |
Retailers, and chain stores |
|
Operations
Assessment |
Importing and sale of home décor items. |
|
Head Office
Physical Address |
Site 53 cnr Andwe and Woodpecker Street Fort Jackson Eastern Cape |
|
Head Office
Postal Address |
P O Box 2525 Beacon Bay 5205 |
|
Current Tel
Number |
043 7631476 |
|
Current Fax
Number |
043 7635071 |
|
Current Email
Address |
fabcomlo@iafrica.co.za |
Tax Information
|
Vat Number |
4910157090 |
|
Vat Liable Date |
22 July 2011 |
|
Status |
Active |
|
Tax Number |
9748002111 |
|
Tax Clearance |
Yes |
|
Tax Clearance
Expire Date |
February 2012 |
|
Financial Year
End |
February |
Black Economic Empowerment
|
Status |
None |
ISO Status
|
Type of ISO
Grade |
No |
Workman’s compensation
|
Registered |
Yes |
|
Compliance Certified
|
Yes |
Company Structure
|
Branches |
None |
|
Associated
Companies |
None |
|
Number of
Employees |
25 |
|
1.
Salaried
employees |
5 |
|
2.
Waged
employees |
20 |
|
3.
Permanent
employees |
|
|
4.
Casual
employees |
|
|
5.
Contracted
employees |
|
Company Fleet |
2 |
|
Fleet Operations |
|
|
The Fleet is
made up of |
|
|
1.
Cars |
1 |
|
2.
Light
Delivery Vehicles |
|
|
3.
Trailers |
|
|
4.
Busses |
1 |
|
5.
Trucks |
|
|
6.
Fork
Lifts |
|
|
7.
Other |
|
Head Office
Owned/ Rented |
Owned |
|
Owned by |
Fabric Corporation (Pty) Ltd |
|
Value |
R1 200 000 |
|
Bank |
First National Bank |
|
Bond |
Nil |
|
Type of Premises |
Warehouse and offices |
Trade References
|
Supplier |
Contact |
|
TWK ZIPPER |
043 7362749 |
|
COATES SA |
031 7362171 Fax 031 7363200 |
|
UTI |
|
|
SKYNET |
011 8749431 |
|
FALCON TRADING |
043 7226002 |
Trade References
|
Age of Acc |
Credit Limit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
7 years |
R30 000 |
30 days |
R15 000 |
30 days |
Good |
|
Sept 2007 |
R16 000 |
30 days |
R1 000 –
R6 000 |
30 days |
Good |
|
Do |
Not |
Give |
Trade |
References |
|
|
Do |
Not |
Give |
Trade |
References |
|
|
5 years |
R15 000 |
30 days |
R2 500 – R5 000 |
30 days |
Good |
Adverse Information on Subject
|
Judgements |
None on record |
|
Possible
Judgements |
None |
|
Civil Court |
None |
|
RDs |
None |
Default Data
|
Date |
Details |
|
None |
|
Notarial Bonds
|
Date |
Details |
|
None |
|
Auditors Information
|
Company
Registered Name |
Moore Stephens PDB Inc |
|
Physical Address |
12 Sansom Road Vincent East London East London |
|
Postal Address |
P O Box 1715 East London 5200 |
|
Contact Person |
Daylan Staude |
|
Contact Number |
043 7263344 |
|
Email |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
Pdb Pretorius Dandashe (EL) |
Unknown |
Bank Information
|
Bank |
First National Bank |
|
Branch |
East London |
|
Bank Account
Number |
52120077708 |
|
Type of account |
Cheque |
|
Branch Code |
210121 |
|
Account Name |
Fabric Corporation (Pty) Ltd |
|
Bank Code |
No bank code supplied |
Deeds Information
|
Property Interest 1 of 1 |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property Type: |
None on record |
Stand Number: |
|
|
Street Number: |
|
Street Name: |
|
|
Municipal Suburb: |
|
Municipal City: |
|
|
Township Name: |
|
Province: |
|
|
Deeds Office: |
|
Transfer ID: |
|
|
Title Deed Number: |
|
Purchase Date: |
|
|
Transfer Date: |
|
Erf Size: |
|
|
Sold Price: |
|
|
|
Financial Information
Financial
Estimates
|
Stock |
R4 200 000 |
|
Debtors |
R2 800 000 – R3 200 000 |
|
Cash on Hand |
Fluctuates |
|
FIXED ASSETS |
R3 200 000 |
|
Plant,
Equipment, Vehicles |
R2 000 000 |
|
Property |
R1 200 000 |
|
Creditors |
Local R300 000 |
|
Loans/ From? |
Nil |
|
LONG TERM
LIABILITIES |
Nil |
|
Morgage Bonds |
Nil |
|
ANNUAL Turnover |
R16 000 000 |
|
Previous Year
Turnover |
R15 000 000 |
|
Estimated
Current Year Turnover |
R16 500 000 |
Principals
|
Number of
Principals |
1 |
|
Average Age of
Active Principals |
61 |
Active Principals
Principal 1
|
Surname |
Van Niekerk |
|
First Names |
Pieter Andre |
|
ID Number |
5008055063000 |
|
Current Age |
61 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
1996-12-06 |
|
Address (at time of
Appointment) |
30 Nahoon Crescent Beacon Bay 5241 |
|
ID Verification |
Yes |
|
Marital Status |
Widower |
Adverse
Information on Principal
Judgement 0 of 0
|
Number of
Judgements |
None |
Debt
Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information on Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
Smyrnax (Pty) Ltd |
1966/008824/07 |
Deregistration
final |
0 |
No |
|
Innerspace
Interior Décor Manufacturer (Pty) Ltd |
1990/001071/07 |
Dissolved |
0 |
No |
|
German Autohaus (Ridgeway)(Pty)
Ltd |
1994/000254/07 |
Deregistration
final |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
None |
|
|
|
|
|
|
|
|
|
|
Deeds Information
Property Interests of Principle
|
Property Interest 1 |
|||
|
Title Deed No. |
None |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.72 |
|
UK Pound |
1 |
Rs.73.47 |
|
Euro |
1 |
Rs.65.38 |
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 |
|
---- |
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.