MIRA INFORM REPORT
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Report Date : |
25.11.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
CORDISPEX CC |
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Registered Office : |
350 Umhlanga Road, River Horse Valley, Effingham 4051 |
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Country : |
South Africa |
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Date of Incorporation : |
04.05.2010 |
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Com. Reg. No.: |
2010/059742/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Import and sale of homeware and clothing |
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No. of Employees
: |
5 Persons |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment
Behaviour : |
Unknown |
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Litigation : |
--- |
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 |
Assessment:
This is a newly trading small business that is not a general credit
seeker locally.
We were unable to obtain a payment trend.
There is no real basis upon which to recommend credit dealings.
We still await a bank code.
Company Information
|
Registered
Name |
CORDISPEX CC |
|
Trading
as/ Division Name |
None |
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Previous Name |
None |
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Date of Name
Change |
N/A |
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Registration
Number |
2010/059742/23 |
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Registration
Date |
2010-05-04 |
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Date Commenced
Trading |
2010 |
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History of
Business |
The subject commenced as a new business in 2010. |
|
History of
Principals |
MR S MAHARAJ was formerly employed in the same industry for a number
of years. |
|
Members and % holding |
100% ASHLEY MAHARAJ |
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Members
Contribution |
R100 |
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Age of Company |
1 year 6 months |
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Status |
In Business |
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Operations
Assessment |
Import and sale of homeware and clothing. |
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Industry/
Customers |
Retail chain stores |
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Export |
None |
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Major Industry
Code / SICC |
61901 Wholesale Retail |
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Definition of
Code |
General wholesale trade |
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Head Office
Physical Address |
350 Umhlanga Road River Horse Valley EFFINGHAM 4051 |
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Head Office Postal
Address |
P O Box 2939 DURBAN 4000 |
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Current Tel
Number Cell number |
031 5696361 083 3785568 |
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Current Fax
Number |
031 5693362 |
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Current Email
Address |
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Web Site Address |
None |
Auditors Information
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Company
Registered Name |
LOGIE GOVENDER AND COOMPANY |
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Trading Name |
None |
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Registration
Number |
None/ Sole proprietor ID:4807035179054 |
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Physical Address |
691 Umgeni Road STAMFORD HILL Durban |
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Postal Address |
P O Box 47682 GREYVILLE 40001 |
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Contact Person |
NICKY |
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Contact Number |
031 3127521 |
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Email |
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Principals |
L GOVENDER |
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Judgements
Against Subject |
None |
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Judgements
Against Principals |
None |
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Subject Verified
as Client |
Yes |
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VAT Number |
4160105655 |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
M R MATHIER |
Unknown |
Tax Information
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Vat Number |
4900256928 |
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Status |
Active |
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Vat Liable Date |
Monthly |
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Tax Number |
? |
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Tax Clearance
Expire Date |
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Financial Year
End |
February |
Black Economic
Empowerment
|
Status |
None |
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Score |
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|
Expire Date |
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BEE Certificate
Available |
Yes/No |
ISO Status
|
Type of ISO
Grade |
None |
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ISO Certificate |
No |
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ISO Certificate
Available |
No |
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Certified by an Accredited
Agent |
No |
Workman’s
compensation
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
Company Structure
|
Branches |
None |
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Branches Names |
Country |
Province |
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None |
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Subsidiary
Company |
None |
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Shareholding |
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Registration
Number |
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Import / Export |
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Number of
Employees |
5 |
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1.
Salaried
employees |
5 |
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2.
Waged
employees |
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3.
Permanent
employees |
5 |
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4.
Casual
employees |
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5.
Contracted
employees |
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Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding
Balance |
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Fleet Operations |
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The Fleet is
made up of |
None |
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1.
Cars |
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2.
Light
Delivery Vehicles |
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3.
Trailers |
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4.
Busses |
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5.
Trucks |
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6.
Fork
Lifts |
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7.
Other |
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Head
OfficeOwned/ Rented |
Rented |
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Rental Company |
SOUVARIS PROPERTIES |
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Owned by |
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Value |
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Bond |
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Bank |
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Lease Agreement |
Monthly |
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Lease Expire
Date |
End November |
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Type of Premises |
Office and storage |
Trade References
|
Supplier |
Contact |
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GRINDROD
SHIPPING |
031 3041451 |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
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Do |
Not |
Give |
Trade |
References |
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Adverse
Information on Subject
|
Judgements |
None |
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Possible
Judgements |
None |
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Civil Court |
None |
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RDs |
None |
Default Data
|
Date |
Details |
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None |
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Notarial Bonds
|
Date |
Details |
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None |
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Deeds Information
|
Property Interest |
|||
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Title Deed No. |
None |
Erf/Site No. |
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Deeds Office |
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Physical Address |
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Property Type |
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Extent / Size |
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Purchase Date |
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Purchase price |
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% Ownership |
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Bond Holder |
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Bond Number |
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Bond Amount |
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Bank Information
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Bank |
STANDARD BANK |
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Branch |
GREYVILLE |
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Bank Account
Number |
281640890 |
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Type of Account |
Cheque |
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Account Name |
CORDISPEX CC |
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Overdraft
Facilities |
None |
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Bank Code |
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Bank Comment |
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Bank
CodesHistory
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
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None |
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Previous Bank
Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
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None |
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Financial Information
Financial
Estimates
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CURRENT ASSETS |
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Stock |
Only hold as per order, small |
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Debtors |
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Cash on Hand |
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FIXED ASSETS |
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Plant,
Equipment, Vehicles |
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Property |
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CURRENT
LIABILITIES |
None |
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Creditors |
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Loans/ From? |
None |
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LONG TERM
LIABILITIES |
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Morgage Bonds |
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ANNUAL / MONTHLY
Turnover |
R20 000 000 |
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Previous Year
Turnover |
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Estimated
Current Year Turnover |
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Principals
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Number of
Principals |
1 |
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Average Age of
Active Principals |
41 |
Active Principals
Principal 1 of 1
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Surname |
MAHARAJ |
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First Names |
ASHLEY |
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Marital Status |
Married |
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ID Number |
7010105094082 |
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Verified ID
Number |
Yes |
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Current Age |
41 |
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Designation |
Member |
|
Status |
Active |
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Appointment Date |
2010-05-04 |
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Address (at time of
Appointment) |
Unit 3 Royalton 25 Old Brush Road LA LUCIA 4001 |
Adverse
Information on Principal
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information on
Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
EXQUISITE HOUSE CC |
1987/000499/23 |
Deregistration
Process |
0 |
NO |
|
TREZINIX CC |
2010/111903/23 |
In Business |
0 |
NO |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
22 years |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
SUB 146
SPINGFIELD PARK (PTY) LTD |
1990/002260/07 |
In Business |
0 |
No |
|
EXQUISITE
INDENTS (PTY) LTD |
1992/005305/07 |
In Business |
1 |
No |
|
GOLDSACK
INVESTMENTS CC |
2005/026260/23 |
Deregistration
Final |
0 |
No |
|
TWO NINE SIX
SYDNEY ROAD SHARE BLOCK (PTY) LTD |
M1978/00175007 |
In business |
0 |
No |
Deeds Information
Property Interests of
Principle
|
Property Interest |
|||
|
Title Deed No. |
ST4228/2006 |
Erf/Site No. |
2890,0 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
BLOWHARD ESTATE DOLPHIN COAST BALLITO |
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Property Type |
Sectional Title/ Unit |
Extent / Size |
458.0SQM |
|
Purchase Date |
2005-11-27 |
Purchase price |
R3 068 400.00 |
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% Ownership |
0.0000 |
Bond Holder |
STANDARD BANK |
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Bond Number |
SB55372006 |
Bond Amount |
R3 068 400.00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.25 |
|
UK Pound |
1 |
Rs.81.23 |
|
Euro |
1 |
Rs.69.83 |
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 |
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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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.