MIRA INFORM
REPORT
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Report Date : |
13.05.2011 |
IDENTIFICATION DETAILS
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Name : |
P A R HEAVY DUTY SPARES CENTRE CC |
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Registered Office : |
Unit 8, Waterford Park, 60 Peter Road, Springfield Park,
Durban, Kwazulu-Natal |
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Country : |
South Africa |
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Date of Incorporation : |
07.09.2001 |
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Com. Reg. No.: |
2001/062502/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Importers and distributors
of heavy duty automotive spare parts. |
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 : |
Usually Correct |
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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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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 |
Note:
(The
information contained in this report, other than comment by outside authorities,
has been voluntarily supplied by Officials of the subject):
COMPANY NAME
P
A R HEAVY DUTY SPARES CENTRE CC
PHYSICAL ADDRESS
Unit
8
Waterford
Park
Springfield Park
Durban
Kwazulu-Natal
POSTAL ADDRESS
P O Box 74394
Rochdale Park
4034
Telephone Number: 031 577 6188
Fax Number: 031 577 6188
MEMBERS
100% A R NANDKOOMAR ID No. 7508255057080
ASSOCIATE COMPANIES
CASTLE TRUCK AND BUS CC
BANKERS
NEDBANK, Global Business Centre Branch, Durban. It was stated that the subject enjoys overdraft facilities secured by the personal guarantees of the Members. Utilisation is stated to fluctuate.
DATE REGISTERED
7 September 2001
Registration Certificate Number: 2001/062502/23
VAT NUMBER
4910195660
TAX NUMBER
9086338143
MAJOR OPERATION
Importers and distributors of heavy duty automotive spare parts.
MAJOR SUPPLIERS
The
subject imports 95% of its supplies and deals locally with EDWARD JOHN
SHIPPING.
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Automotive
parts retailers
AREA OF DISTRIBUTION AND SELLING
South
Africa
EXPORTS
African Countries
TOTAL EMPLOYEES
8
OTHER PREMISES
It was stated that the
subject has a branch in Newcastle
OWNED OR LEASED
The premises are reported to be owned by the subject and valued in the region of R1 400 000, free of bond
MEMBERS CONTRIBUTION
R100
Full
financial information was not forthcoming from respondents at the subject,
however, it was stated that the annual turnover is in excess of
R1 000 000.
AUDITORS
RUGANATHAN
AGENCY
YEAR END
FEBRUARY
INSURANCE BROKERS
KEVKO
INSURANCE
TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 8
years undisclosed R 50 000- 30 days 30
days Very Good
R100
000
COMMENTS
This is an established business meeting its moderate local commitment timeously. We have not traced dealings to an extent of US$1 000 000 and would prefer to see a far lesser amount spread and secured. 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.44.79 |
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UK Pound |
1 |
Rs.73.19 |
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Euro |
1 |
Rs.63.59 |
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.