MIRA INFORM
REPORT
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Report Date : |
24.06.2011 |
IDENTIFICATION DETAILS
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Name : |
IG. HOOSEN & CO |
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Registered Office : |
140 Denis Hurley Street, Durban, 4001 |
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Country : |
South Africa |
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Year of Establishment : |
1930 |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Private Company |
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Line of Business : |
General Wholesalers |
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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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South Africa |
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:
A
contact at the subject stated that the business is not a registered company but
a partnership, therefore CIPRO information is not available.
The financial manager replied and only assisted
with the following information.
The business is well established and is
meeting payments within terms.
Suppliers speak highly of the subject.
It is suggested dealings be fully secured and
the lack of details be borne in mind.
Company Information
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Registered
Name |
The subject is a partnership |
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Trading
as/ Division Name |
IG. HOOSEN & CO |
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Previous Name |
None |
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Date of Name
Change |
None |
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Registration
Number |
None |
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Registration
Date |
Declined |
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Date Commenced
Trading |
1930’s |
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Age of Company |
77 years |
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Status |
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Industry/
Customers |
Wholesalers and Retailers |
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Major Industry
Code |
61901 Wholesale Retail |
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Definition of
Code |
General Wholesale Trade |
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Operations
Assessment |
General Wholesalers |
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Head Office Physical
Address |
140 Denis Hurley Street DURBAN 4001 |
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Head Office
Postal Address |
P O Box 49339 QUALBERT 4078 |
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Current Tel
Number |
031 334 2500 |
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Current Fax
Number |
031 305 6408/ 086 511 6036 |
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Current Email
Address |
ighoosen@icon.co.za |
Tax Information
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Vat Number |
43301007279 |
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Vat Liable Date |
Declined |
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Status |
Declined |
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Tax Number |
Declined |
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Tax Clearance |
Declined |
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Tax Clearance
Expire Date |
Declined |
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Financial Year
End |
February |
Black Economic Empowerment
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Status |
N/A |
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Score |
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Expire Date |
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BEE Certificate
Available |
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ISO Status
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Type of ISO
Grade |
N/A |
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ISO Certificate |
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ISO Certificate
Available |
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Certified by an
Accredited Agent |
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Workman’s compensation
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Registered |
N/A |
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Compliance
Certified |
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Company Structure
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Branches |
0 |
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Branches Names |
Country |
Province |
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None |
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Number of
Employees |
52 |
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1.
Salaried
employees |
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2.
Waged
employees |
52 |
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3.
Permanent
employees |
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4.
Casual
employees |
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5.
Contracted
employees |
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Company Fleet |
3 |
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Fleet Operations |
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The Fleet is
made up of |
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1.
Cars |
1 |
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2.
Light
Delivery Vehicles |
2 |
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3.
Trailers |
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4.
Busses |
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5.
Trucks |
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6.
Fork
Lifts |
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7.
Other |
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Head Office
Owned/ Rented |
Owned |
Trade References
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Supplier |
Contact |
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UNITED SHIPPING |
031 3139800 |
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CHAMERS SPORTS |
031 3055529 |
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JEFFREYS
HARDWARE |
031 7022570 |
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Age of Acc |
Credit Limit |
Terms |
Average Purchases |
Terms Taken |
Comment |
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Old |
R500 000 |
30 days |
R300 000 |
30 days |
Very good |
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50 years |
R1 000 000 |
30 days |
Up to R1 000 000 |
30 days |
Very good |
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20 years |
R300 000 |
30 days |
R200 000-
R300 000 |
30 days |
Excellent |
Auditors Information
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Company
Registered Name |
I SALEJEE KADWA AND CO |
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Postal Address |
P O Box 26330 ISIPINGO BEACH 4115 |
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Contact Person |
Ahmed Kadwa |
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Contact Number |
031 9029786 |
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Years With Auditors |
40 years |
Bank Information
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Bank |
FIRST NATIONAL BANK |
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Branch |
Declined |
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Bank Account
Number |
50891071570 |
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Type of account |
Current |
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Branch Code |
Declined |
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Bank Code |
Unable to obtain without more details |
Financial Information
Financial
Estimates
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CURRENT ASSETS |
Declined to assist with any Financial information. |
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Stock |
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Debtors |
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Cash on Hand |
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FIXED ASSETS |
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Plant,
Equipment, Vehicles |
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Property |
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CURRENT
LIABILITIES |
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Creditors |
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Loans/ From? |
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LONG TERM
LIABILITIES |
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Morgage Bonds |
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ANNUAL / MONTHLY
Turnover |
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Previous Year
Turnover |
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Estimated
Current Year Turnover |
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Principals
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Number of
Principals |
Declined to provide names of Partners |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.93 |
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UK Pound |
1 |
Rs.72.09 |
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Euro |
1 |
Rs.64.21 |
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 |
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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.