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MIRA
INFORM REPORT
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Report Date : |
05.03.2011 |
IDENTIFICATION DETAILS
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Name : |
NEOMEDIC (PTY) LTD |
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Formerly Known As : |
WISHTRADE 001 (PTY) LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
09.07.1999 |
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Com. Reg. No.: |
1999/014783/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Importing and distribution of medical supplies such as hospital gas,
gloves, needles, blood pressure machines |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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
NEOMEDIC (PTY) LTD
Formerly WISHTRADE 001 (PTY) LTD, the name having been changed on 29
June 2000.
Address
PHYSICAL ADDRESS:
KwaZulu Natal
POSTAL ADDRESS:
4034
TELEPHONE NUMBER: 031 533 9680
FAX NUMBER: 031 569
6679
SHAREHOLDERS
25% A G K MOLEDINA
25% B B MOLEDINA
25% A K A MOLEDINA
25% S MOLEDINA
ASSOCIATE COMPANIES
WINTER FANCY TRADING AND INVESTMENTS CC – property owning
(Registration Certificate Number: 2005/020350/23)
ADROIT TRADING (PTY) LTD
(Registration Certificate Number:
2001/005777/07)
DIRECTORS
A G K MOLEDINA (
MRS B B MOLEDINA (Tanzanian) (Wife) D.O.B:
510417
A K A MOLEDINA (Son) D.O.B:
760428
BANKERS
HBZ BANK,
It was stated that the subject enjoys an overdraft facility. The respondent stated that the overdraft
facility is not utilised as credit balances are normally maintained at the
above mentioned bank.
DATE REGISTERED
9 July 1999
Registration Certificate Number: 1999/014783/07
The subject commenced active operations in June 2000.
VAT NUMBER
4110193127
MAJOR OPERATION
Importing and distribution of medical supplies such as hospital gas,
gloves, needles, blood pressure machines
MAJOR SUPPLIERS
The subject imports 100% of their supplies from the Far East (
CUSTOCLEAR
DHL
MEDICO LAB,
MAJOR CUSTOMERS OR BUSINESS SECTORS
Pharmacies, wholesalers, retailers and a few selected hospitals
AREA OF DISTRIBUTION AND SELLING
EXPORTS
Neighbouring countries
TOTAL EMPLOYEES
9 permanent employees
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be owned by WINTER FANCY TRADING AND
INVESTMENTS CC, free of bond.
The following estimated financial situation was
submitted as at February 2011:
STOCK R3 000 000
– R 5 000 000
DEBTORS R2 000 000
– R 4 000 000
CREDITORS US$
300 000
DIRECTORS LOANS small
amount
TURNOVER per annum R20 000
000
AUDITORS
S A B AND T INC, (Tel No: 031 275 9400)
YEAR END
FEBRUARY
INSURANCE BROKERS
TIB
TRADE REFERENCES – JUNE 2006
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 2 years R300
000 R300 000 30 days 30 days Good
2. 4 years R100
000 R 50 000 30
days 30
days Very
good
3. Do not give trade
references
TRADE REFERENCES – FEBRUARY 2010
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Do not give trade
references
2. 7 years open
acc R400 000- Very Good
R700 000
3. 10 years R400 000 30
days 30
days Very
Good
CURRENT TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
Old acc R300 000+ R300 000+ 7 days 7
days Very
good
Open
account
Do not give trade references
Old acc large amounts 30 days 30 days Very
good
Sporadic
purchases
COMMENTS
This is an established company meeting commitments timeously. No adverse comments have been heard and the
subject is considered equal to its normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.99 |
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1 |
Rs.73.24 |
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Euro |
1 |
Rs.62.80 |
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.