MIRA INFORM
REPORT
|
Report Date : |
24.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
STUART GRAHAM FURNISHING FABRICS CC |
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Registered Office : |
1 Sidon Street, North End, Port Elizabeth 6056 |
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Country : |
South Africa |
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Date of Incorporation : |
25.02.2009 |
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Com. Reg. No.: |
2009/036242/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
Wholesaling of furnishing fabrics |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
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 : |
Unknown |
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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
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
South Africa |
a2 |
a2 |
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Risk Category |
ECGC Classification |
|
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.
We are unable to obtain trade references as most companies in the
textile industry do not give any.
We cannot recommend a maximum figure.
It would be suggested that all dealings be on a secured basis.
Company Information
|
Registered
Name |
STUART GRAHAM FURNISHING FABRICS CC |
|
Trading
as/ Division Name |
None |
|
Previous Name |
None |
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Date of Name
Change |
N/A |
|
Registration
Number |
2009/036242/23 |
|
Registration
Date |
2009-02-25 |
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Date Commenced
Trading |
2009 |
|
History of
Business |
The subject was originally a (Pty) Ltd company that was converted and
had been trading for over 10 years. |
|
Members of
subject and % holding |
80% STUART GRAHAM FAMILY TRUST in which S GRAHAM is the trustee 20% JOHN ROB TRUST in which J SMITH is the trustee |
|
Members
Contribution |
R100 |
|
Age of Company |
2 years |
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Status |
Active |
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Industry/
Customers |
Retailers mainly in SA and occasionally to
neighbouring countries and New Zealand and Australia. |
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Operations
Assessment |
Wholesaling of furnishing fabrics. |
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Head Office
Physical Address |
1 Sidon Street North End PORT ELIZABETH 6056 |
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Head Office
Postal Address |
P O Box 1517 PORT ELIZABETH 6000 |
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Current Tel
Number |
041 4021300 |
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Current Fax
Number |
041 4873432 |
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Current Email
Address |
john@stuart graham.co za |
Tax Information
|
Vat Number |
4560170518 |
|
Vat Liable Date |
Monthly |
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Status |
Active |
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Tax Number |
9178005071 |
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Tax Clearance |
Yes |
|
Tax Clearance
Expire Date |
February |
|
Financial Year
End |
February |
Black Economic Empowerment
|
Status |
None |
ISO Status
|
Type of ISO
Grade |
None |
Workman’s compensation
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
Company Structure
|
Branches |
4 |
|
Branches Names |
Country |
Province |
|
Cape Town |
SA |
Western Cape |
|
Durban |
SA |
Kwazulu Natal |
|
Johannesburg |
SA |
Gauteng |
|
Bloemfontein |
SA |
Free State |
|
Associated
Companies |
PRESTIGE TEXTILES SA (a partnership) |
|
Shareholding |
50% STUART GRAHAM FURNISHING FABRICS CC 50% PRESTIGE TEXTILES ( a company in the UK) |
|
Import / Export |
Yes |
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Number of
Employees |
53 |
|
1.
Salaried
employees |
31 |
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2.
Waged
employees |
22 |
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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 |
10 |
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Fleet Operations |
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The Fleet is
made up of |
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1.
Cars |
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2.
Light
Delivery Vehicles/ sudans |
10 |
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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 |
Leased from a group related business |
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Rental Company |
Sidon Trust |
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Owned by |
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Lease Agreement |
ongoing |
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Lease Expire
Date |
None |
|
Type of Premises |
Office and warehouse |
Branches Owned/
Rented |
All branches are leased from various companies outside the group. |
Trade References
The company does
not purchase much from local suppliers, therefore 90% of its products are
imported.
|
Supplier |
Contact |
|
BERGRIVER
TEXTILES |
021 8689300 |
|
UTI |
Do Not GIve |
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HELM TEXTILES |
011 4955495
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Age of Acc |
Credit Limit |
Terms |
Average Purchases |
Terms Taken |
Comment |
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Do |
Not |
Give |
Trade |
References |
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Do |
Not |
Give |
Trade |
References |
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Do |
Not |
Give |
Trade |
Refrences |
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Adverse Information on Subject
|
Judgements |
None |
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Possible
Judgements |
None |
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Civil Court |
None |
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RDs |
None |
Default
Data
|
Date |
Details |
|
None |
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Notarial
Bonds
|
Date |
Details |
|
None |
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Auditors Information
|
Company
Registered Name |
MAZARS |
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Trading Name |
None |
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Registration
Number |
Partnership |
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Physical Address |
30 Bird Street Central PORT ELIZABETH 6000 |
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Postal Address |
P O Box 285 PORT ELIZABETH 6000 |
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Contact Person |
JACK |
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Contact Number |
041 5019700 |
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Directors/
Members/ Partners |
11 partners |
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Subject Verified
as Client |
Yes |
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Profession number |
900222 |
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BEE Status |
Level 3 |
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Website |
www.mazars.co.za |
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Financial Year
End |
|
|
Years With
Auditors |
In total 16 years |
Previous
Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
None |
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Bank Information
|
Bank |
Standard Bank |
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Branch |
North End |
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Bank Account
Number |
080661947 |
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Type of account |
Current |
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Branch Code |
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Account Name |
Stuart Graham Furnishing Fabrics CC |
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Bank Code |
C |
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Bank Comment |
The subjects bankers consider them good for R200 000 over 30 days
in the normal way of business. |
Deeds Information
|
Property Interest 1 of 1 |
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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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Municipal City: |
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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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Financial Information
Financial
Estimates
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ANNUAL Turnover |
R50 000 000 plus |
Principals
|
Number of
Principals |
2 |
|
Average Age of
Active Principals |
48 |
Active
Principals
Principal
1 of 2
|
Surname |
SMITH |
|
First Names |
JOHN |
|
ID Number |
6708195160082 |
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Current Age |
44 |
|
Designation |
Member |
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Status |
Active |
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Appointment Date |
2009-02-25 |
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Address (at time
of Appointment) |
36 Wychwood Avenue Linkside PORT ELIZABETH 6001 |
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ID Verification |
Yes |
Adverse Information on Principal
Judgements
|
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 |
|
ROMELEC PROPERTY
CC |
1993/030678/23 |
|
0 |
No |
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STYLELINE
INVESTMENTS CC |
2006/138498/23 |
|
0 |
No |
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MUSTARD SEED
PROPERTIES (PTY) LTD |
2009/016498/07 |
|
0 |
No |
|
STUART GRAHAM
FURNISHING FABRICS CC |
2009/036242/23 |
|
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
None |
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
N/A |
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|
Deeds Information
Property
Interests of Principle
|
Property Interest 1 of 2 |
|||
|
Title Deed No. |
None |
Erf/Site No. |
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Deeds Office |
|
Physical Address |
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Property Type |
|
Extent / Size |
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Purchase Date |
|
Purchase price |
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% Ownership |
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Bond Holder |
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|
Bond Number |
|
Bond Amount |
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Personal Information
Principal 2 of 2
|
Surname |
GRAHAM |
|
First Names |
STUART |
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ID Number |
5802175104086 |
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Current Age |
53 |
|
Designation |
Member |
|
Status |
Active |
|
Appointment Date |
2009-02-25 |
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Address (at time of
appointment) |
15 Short Street Walmer PORT ELIZABETH 6070 |
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ID Verification |
Yes |
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Marital Status |
|
Adverse Information on Principal
Judgement 1 of 1
|
Number Of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information of Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
LINGRAY
WHOLESALERS (PTY) LTD |
1993/000629/07 |
|
0 |
No |
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DE-WINN PROPERTY
CC |
1996/057100/23 |
|
0 |
No |
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STUART GRAHAM
READY MADES (PTY) LTD |
1999/004507/07 |
|
0 |
No |
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ACHILLES
FINANCIAL INVESTMENTS (PTY) LTD |
2006/012690/07 |
|
0 |
No |
|
STYLELINE
INVESTMENTS CC |
2006/138498/23 |
|
0 |
No |
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MUSTARD SEED
PROPERTIES (PTY) LTD |
2009/016498/07 |
|
0 |
No |
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STUART GRAHAM
TEXTILES |
5802175104003 |
|
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
17 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
ROMLEC PROPERTY |
1993/030678/23 |
|
0 |
No |
Deeds Information
Property Interests of Principal
|
Property Interest 1 |
|||
|
Title Deed No. |
None |
Erf/Site No. |
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Deeds Office |
|
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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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.93 |
|
UK Pound |
1 |
Rs.72.09 |
|
Euro |
1 |
Rs.64.21 |
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.