MIRA INFORM
REPORT
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Report Date : |
14.03.2011 |
IDENTIFICATION DETAILS
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Name : |
M L P DISTRIBUTORS CC |
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Registered Office : |
Cnr Main Reef and Kelvin Roads, |
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Country : |
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Date of Incorporation : |
23.11.1988 |
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Com. Reg. No.: |
1988/032691/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Manufacturing, distribution
and wholesaling of snuff
products |
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 : |
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 |
NotE:
(The information contained in this report, other than comment by outside authorities, has been voluntarily supplied by officials of the subject):
COMPANY NAME
M L P DISTRIBUTORS
CC
PHYSICAL ADDRESS
Cnr Main Reef and
Kelvin Roads
Industria
POSTAL ADDRESS
2000
Telephone Number: 011 661 5777
Fax Number: 011
661 5778
MEMBERS
33.3% R M P FAMILY
TRUST - in which S K PATEL is a trustee
33.3% S K PATEL
FAMILY TRUST - in which S K PATEL is a trustee
33.3% A M L
FAMILY TRUST – in which A M LALA is a trustee
The shareholding was previously equal between R M PATEL, K
ASSOCIATE COMPANIES
RAMSAM CLOTHING MANUFACTURERS CC
(Registration Certificate Number 1988/032628/23)
S R A INVESTMENTS CC
(Registration Certificate Number 1994/029431/23)
CKV PROPERTIES CC
(Registration Certificate Number 2001/085477/23)
MEDAL PAINT MANUFACTURERS (PTY) LTD
(Registration certificate Number 1982/001195/07)
BANKERS
STANDARD BANK,
It was stated that the subject does not require overdraft facilities as
credit balances are normally maintained at the bank.
DATE REGISTERED
23 November 1988
Registration Certificate Number 1988/032691/23
The subject converted from a private company, namely, M L P DISTRIBUTORS (PTY) LTD (Registration Certificate Number 1971/014190/07) in November 1988.
VAT NUMBER
4420105399
MAJOR OPERATION
Manufacturing, distribution and wholesaling of snuff products
MAJOR SUPPLIERS
The subject imports tobacco from
R T T (PTY) LTD
PROTEA CHEMICALS
V PARAGBHAI AND SONS
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Retailers and wholesalers, e.g. MAKRO
AREA OF DISTRIBUTION AND SELLING
EXPORTS
Neighbouring countries such as
TOTAL EMPLOYEES
50 permanent employees
OTHER PREMISES
None
OWNED OR LEASED
The premises are reported to be owned by a property company in the
Group, namely, C K V PROPERTIES CC, free of bond.
MEMBERS CONTRIBUTION
R300
Full financial information was not forthcoming from respondents at the subject and outside authorities were unable to assist in this respect.
AUDITORS
HORWATH LEVETON BONER, Benmore
YEAR END
FEBRUARY
INSURANCE BROKERS
AON
TRADE REFERENCES – MAY 2001
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 1 yr+ R2
500 000 R1 000 000 - 15 days 15 days Very
good
c/l R2 000 000
2. 5 yrs+ R 400 000 R 200 000 - 30
days 30 days Very good
R 400 000
3. Old acc. R 250 000 R 250 000 30
days 30 days Very good
TRADE REFERENCES – FEBRUARY 2008
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. 40 yrs R4 000 000 R3 000 000- 30 days 30 days Very
good
R4
000 000
2. Old acc declined declined 30 days 30 days Very good
3.
Do not give trade references
CURRENT TRADE REFERENCES
PERIOD HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
CREDIT CREDIT PATTERN
1. Awaiting a fax trade reference response
2. 5 years R350
000 confidential 30 days 30
days Good
c/l
3. 40 years open
account R2 000 000 - 30 - 60 30
– 60 Very good
R3 000 000 R3 000 000 days days
4. Awaiting
a fax trade reference response
COMMENTS
This is an established business meeting commitments timeously. The subject is considered equal to US$1 000 000 spread over 180 days. The lack of financial information should be borne in mind.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.21 |
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1 |
Rs.72.55 |
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Euro |
1 |
Rs.62.43 |
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 |
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.