MIRA INFORM REPORT

 

 

Report Date :           

21.05.2011

 

IDENTIFICATION DETAILS

 

Name :

DCLSA DISTRIBUTORS (PTY) LTD

 

 

Registered Office :

118 Richards Drive, Halfway House, Midrand, Gauteng

 

 

Country :

South Africa

 

 

Date of Incorporation :

29.06.1995

 

 

Com. Reg. No.:

1995/006039/07

 

 

Legal Form :

Private Company

 

 

Line of Business :

Importers and distributors of ironmongery

 

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 :

No Complaints

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

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

Note:

(The information contained in this report, other than comment by outside authorities, has been voluntarily supplied by officials of the subject):

 

 

COMPANY NAMe

 

DCLSA DISTRIBUTORS (PTY) LTD

 

 

PHYSICAL ADDRESS

 

118 Richards Drive

Halfway House

Midrand

Gauteng

 

 

POSTAL ADDRESS   

 

P O Box 7934

Midrand

1685

 

Telephone Number:        011 315 8286

Fax Number:                 011 315 3878

 

 

SHAREHOLDERS

 

100%    GEZE INTERNATIONAL GmbH of Germany

 

 

ASSOCIATE COMPANIES

 

None

 

 

DIRECTORS

 

K J DIAMOND                                                   ID No 6107125248085

I A S BRITZ (Mrs)                                               ID No 6104210002089

T D K GOEBEL (Mrs)                                         ID No 7003310363087

M SCHELL                                                        Passport No 617520480

 

 

BANKERS

 

STANDARD BANK, Westgate branch, account number 401395588.

 

It was stated that the subject enjoys overdraft facilities, secured.  Utilisation is stated to fluctuate from nil to partial at times.

 

 

DATE REGISTERED

 

29 June 1995

Registration Certificate Number 1995/006039/07

 

 

VAT NUMBER    

 

4300151265

 

 

MAJOR OPERATION

 

Importers and distributors of ironmongery

 

 

MAJOR SUPPLIERS

 

The subject imports ironmongery from the UK, Italy and Hong Kong and deals with the following South African suppliers:

 

·         EURO LOCK Cape Town

·         HENEWAYS Johannesburg

·         TRITON EXPRESS Durban

·         TRANSWORLD FREIGHT Johannesburg

 

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

 

Hardware merchants

 

AREA OF DISTRIBUTION AND SELLING

 

South Africa

 

 

EXPORTS

 

Sub-Saharan Africa

 

 

TOTAL EMPLOYEES

 

69 permanent employees

 

 

OTHER PREMISES

 

The subject is reported to have agents and representatives throughout South Africa and in Namibia.

 

 

OWNED OR LEASED

 

The premises are reported to be leased.

 

 

AUTHORISED SHARE CAPITAL

 

R1 000 divided into 1 000 ordinary shares of R1 each.

 

 

ISSUED SHARE CAPITAL 

 

R100

 

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

 

 

AUDITORS    

 

VON WYK COMPTON

 

YEAR END    

 

JUNE

 

 

INSURANCE BROKERS

 

ECONORISK

 

 

TRADE REFERENCES – SEPTEMBER 2005

 

                  ACCOUNT    HIGHEST       AVERAGE       TERMS     PAYMENT    EXPERIENCE

                  OPENED      CREDIT         CREDIT          PATTERN

 

1.                Do not give trade references

 

2.                5 years+       do not disclose figures 30 days               30 days        Very good

 

3.                1998             R500 000       R500 000        7 days      7 days          Very good

 

 

TRADE REFERENCES – FEBRUARY 2007

 

     ACCOUNT    HIGHEST       AVERAGE       TERMS     PAYMENT    EXPERIENCE

     OPENED      CREDIT         CREDIT          PATTERN

 

1.   Do not give trade references.

 

2.   7 years         large              large 30 days   30 days    Very good

 

3.   6 years         R30 000         R30 000 30 days              30 days        Very good

 

 

TRADE REFERENCES – APRIL 2008

 

     ACCOUNT    HIGHEST       AVERAGE       TERMS     PAYMENT    EXPERIENCE

     OPENED      CREDIT         CREDIT          PATTERN

 

1.  8 years         R1 000 000    R200 000        30 days    30 days        Very good

 

2.   Nov 2006      R30 000         R15 000 30 days              30 days        Good

 

3.   4 years         open acc        R7 000 30 days                30 day          Excellent

 

TRADE REFERENCES – JANUARY 2010

 

      ACCOUNT    HIGHEST       AVERAGE       TERMS     PAYMENT    EXPERIENCE

      OPENED      CREDIT         CREDIT                          PATTERN

 

1.    4 years         R1 000 000    R400 000±       14 days    14 days        Very good

                          c/l

 

2.    2006             R50 000         R20 000 -        30 days    30 days        Excellent

                                               R50 000

 

3.    ±4 years       open acc        R30 000±        30 days    30 days        Very good

 

 

CURRENT TRADE REFERENCES

 

      ACCOUNT    HIGHEST       AVERAGE       TERMS     PAYMENT    EXPERIENCE

      OPENED      CREDIT         CREDIT                          PATTERN

 

1.    10 years       R1 000 000    R1 000 000      15 days    15 days        Excellent

                          c/l

 

2.    Nov 2006      R30 000         R40 000 -        30 days    30 days        Good

                          c/l                 R60 000

 

3.    7 years+       R25 000         R20 000 -        30 days    30 days        Very good

                          open              R25 000

 

 

COMMENTS

 

This is an established company which is meeting its commitments timeously.     The subject is considered equal to an amount of $1 000 000 over 90 days on a secured basis.  The lack of financial information should be borne in mind.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.93

UK Pound

1

Rs.72.92

Euro

1

Rs.64.34

 

 

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.