MIRA INFORM REPORT

 

 

Report Date :

31.03.2011

 

IDENTIFICATION DETAILS

 

Name :

COALITION TRADING 844 CC

 

 

Registered Office :

15A Bridgewater Street  Paarden Eiland Cape Town Western Cape

 

 

Country :

South Africa

 

 

Date of Incorporation :

08.05.2006

 

 

Com. Reg. No.:

2006/069931/23

 

 

Legal Form :

Close Corporation

 

 

Line of Business :

Importers and suppliers of clothing

 

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 :

Slow

 

 

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

 

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

South Africa

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

COMPANY NAME

 

COALITION TRADING 844 CC

 

 

Address

 

PHYSICAL ADDRESS: 

15A Bridgewater Street

Paarden Eiland

CAPE TOWN

Western Cape

 

POSTAL ADDRESS:    

P O Box 24325

CLAREMONT

7735

 

TELEPHONE NUMBER: 021 671 0453

 

CELL NUMBER:                        083 454 6950

 

It was stated by the respondent that the subject moved from 53 Dalest, Rondebosh East, Cape Town in 2010.

 

 

MEMBERS

 

100%    P BISWAJIT      ID No.   7105215882184

 

 

ASSOCIATE COMPANIES

 

None

 

 

BANKERS

 

STANDARD BANK, Cape Town.  It was stated that the subject does not require overdraft facilities as credit balances are maintained at the bank.

 

 

DATE REGISTERED

 

8 May 2006

Registration Certificate Number: 2006/069931/23

 

The subject commenced trading as a new business

 

 

VAT NUMBER    

 

4650233655

 

 

MAJOR OPERATION

 

Importers and suppliers of clothing

 

 

MAJOR SUPPLIERS

 

It was stated that the subject imports 95% of its supplies and deals locally with the clearing agent WORLDNET LOGISTICS.

 

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

 

Clothing wholesalers and small businesses and retail stores

 

 

AREA OF DISTRIBUTION AND SELLING

 

Cape Town

 

 

EXPORTS

 

None

 

 

TOTAL EMPLOYEES

 

2

 

OTHER PREMISES   

 

None

 

 

OWNED OR LEASED

 

The premises are reported to be leased

 

 

MEMBERS CONTRIBUTION

 

R100

 

Full financial information was not forthcoming from respondents at the subject and outside authorities were unable to assist in this regard.

 

 

AUDITORS    

 

REYNEKE & ASSOCIATES

 

 

YEAR END    

 

FEBRUARY

 

 

INSURANCE BROKERS

 

UNINSURED

 

 

TRADE REFERENCES

 

            ACCOUNT        HIGHEST          AVERAGE         TERMS             PAYMENT         EXPERIENCE

            OPENED           CREDIT            CREDIT                                    PATTERN

 

1.         2009                 declined            figure                60 days             150 days           Slow

 

COMMENTS

 

This is an established business meeting its only local commitment slowly.  It is suggested that all dealings be on a letter of credit basis.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.77

UK Pound

1

Rs.71.69

Euro

1

Rs.63.02

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.