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Report No. : |
329381 |
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Report Date : |
04.07.2015 |
IDENTIFICATION DETAILS
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Name : |
TIMBER AND BORDS EXPRESS CC |
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Registered Office : |
33 15th Street, Eastgate Gardens (off Marlboro Drive) Sandton Gauteng |
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Country : |
South Africa |
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Date of Incorporation : |
13.04.2007 |
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Com. Reg. No.: |
2007/073332/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Manufacturers of melamines on a small scale, as well as distributors of timber and boards. |
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No. of Employees : |
80 |
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 : |
No Complaints |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
SOUTH AFRICA ECONOMIC OVERVIEW
South Africa is a middle-income, emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors, and a stock exchange that is Africa’s largest and among the top 20 in the world. Even though the country's modern infrastructure supports a relatively efficient distribution of goods to major urban centers throughout the region, unstable electricity supplies retard growth. Economic growth has decelerated in recent years, slowing to just 1.5% in 2014. Unemployment, poverty, and inequality - among the highest in the world - remain a challenge. Official unemployment is roughly 25% of the work force, and runs significantly higher among black youth. Eskom, the state-run power company, is building three new power stations and is installing new power demand management programs to improve power grid reliability. Load shedding and resulting rolling blackouts gripped many parts of South Africa in late 2014 and early 2015 because of electricity supply constraints that resulted from technical problems at some generation units, unavoidable planned maintenance, and an accident at a power station in Mpumalanga province. The rolling black outs were the worst the country faced since 2008. Construction delays at two additional plants, however, mean South Africa will continue to operate on a razor thin margin; economists judge that growth cannot exceed 3% until electrical supply problems are resolved. South Africa's economic policy has focused on controlling inflation, however, the country faces structural constraints that also limit economic growth, such as skills shortages, declining global competitiveness and frequent work stoppages due to strike action. The current government faces growing pressure from urban constituencies to improve the delivery of basic services to low-income areas and to increase job growth.
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Source
: CIA |
COMPANY NAME: TIMBER AND BORDS EXPRESS CC
TRADING NAME: WOOD CENTRE
PHYSICAL ADDRESS: 33 15th Street
EASTGATE GARDENS (off Marlboro
Drive)
Sandton
Gauteng
POSTAL ADDRESS: P O Box 103
BERGVLEI
2012
TELEPHONE NUMBER: +27 11 262 2662
FAX NUMBER: +27 11 262 2184
It was stated by the respondent
at the company that the address of 33 – 41 Fifteenth Street, Eastgate Gardens
Commercial Park Marlboro Drive Sandton
submitted by our client, is not the correct address of the subject, and
that Eastgate Gardens is in fact the suburb in which the subject is situated
and they only utilise no 33 15th Street. The suburb Eastgate Gardens is just off
Marlboro Drive in Sandton.
60% P C BROUGHILL-DOWLING (MD) ID No. 5803145066082
30% C B PEPPER ID No. 6703315052087
5% J R POWELL ID No. 8002125110088
5% G D HEUER ID No.
7011285185088
EXPS BORDS AND TIMBER CC
(Registration Certificate Number:
2000/060080/23)
MAJELLA TRADING CC
(Registration Certificate Number:
1997/008823/23)
KWIKCORP 3 CC
(Registration Certificate Number: 2004/033650/23)
CHANSON TRADING 1103 CC
(Registration Certificate Number: 2009/100866/23)
EPPENDORF PROPERTIES (PTY) LTD
(Registration Certificate Number: 1996/009439/07)
The above close corporations are associated by means of the members of
the subject.
FIRST NATIONAL BANK, Woodmead Branch, Branch Code: 250955, Account
Number: 62081156278. It was stated that
the subject enjoys overdraft facilities to an extent of R10 000 000,
secured by the shareholders guarantees.
Utilisation is stated to be partial.
13 April 2007
Registration certificate number:
2007/073332/23
TIMBER AND BORDS EXPRESS (PTY) LTD (Registration Certificate Number:
1993/007848/07) was established in 1993.
In April 2007 the subject converted to a Private Company.
It was stated that prior to commencing the subject Messrs P C
BROUGHILL-DOWLING and C B PEPPER worked for P G WOOD for approximately 7 - 8
years. P C BROUGHILL-DOWLING was the
General Manager for the Johannesburg region where he ran approximately 4 - 5
branches and C B PEPPER was a Sales Representative.
4950141707
9597619841
Non-compliant
Manufacturers of melamines on a small scale, as well as distributors of
timber and boards.
The subject imports most of its supplies and deals locally with
suppliers.
Previously, we have divulged the names of the
major suppliers in our reports. We have
discontinued this practice to protect our valuable sources of trade
information. This has become necessary
because we now give a description of the goods or services to which the trade
references relate. This gives our client
the ability to assess whether the
purchases are vital to the subject’s operation and whether we have only been
given their essential suppliers that must be paid promptly for the subject to
maintain its operation.
Kitchen cupboard and furniture manufacturers and shopfitters
Gauteng & surrounds
Occasionally to Namibia, Mozambique and Zimbabwe
80 having increased from 70 reported in 2013.
None
The premises are reported to be owned by 3 associate businesses in the
group named CHANSON TRADING1103 CC, EPPENDORF PROPERTIES (PTY) LTD and MAJELLA
TRADING CC. The property is reported to
be valued in the region of R35 000 000 and bonded to FNB for R6 000 000.
The following financial situation was submitted as at the 1st
July 2015:
STOCK R 25 400 000
DEBTORS R 15 000 000
CREDITORS R 25 000 000
MEMBERS LOANS R 500 000
TURNOVER per annum R130 000 000
DRYSDALE & ASSOCIATES Randburg
FEBRUARY
RICHARD DEHRMAN INSURANCE BROKERS (MUTUAL & FEDERAL)
TRADE REFERENCES – APRIL 2006:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Dec 2003 R800 000 R100 000 30
days 30 days Very Good
2. Apr
1998 R 60 000 R 22 000 30
days 30 days Very Good
3. 3
Years open R 50 000 30
days 30 days Good
TRADE REFERENCES – APRIL 2011:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. June 06 amounts confidential 30
days 30 days Very Good
Do not give trade references
Do not give trade references
Do not give trade references
Dormant account
TRADE REFERENCES – MARCH 2012:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2 Years declined declined 30
days 30 days Very Good
2. 2009 R700 000 R300 000 30/60
days 30/60 days Good
3. Do not give trade
references
TRADE REFERENCES – MARCH 2012:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2 Years declined declined 30
days 30 days Very Good
2. 2009 R700 000 R300 000 30/60
days 30/60 days Good
3. Do not give trade
references
TRADE REFERENCES –
FEBRUARY 2013:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Do
not give trade references
2. Do
not give trade references
3. 3
years declined declined 30 days 30
days Very Good
TRADE REFERENCES - MAY 2013:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Do not give trade
references
2. Do not give trade
references
3. July 2009 R1 200 000 R 200 000 45
days 45 days Very Good
c/l R 600 000 By arrangement
CURRENT TRADE REFERENCES:
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. Many Yrs R1 500 000 R 500 000 30 days 30
days Good
c/l
2. Do not give trade
references
3. 1994 R25 000 000 R6
000 000 90 days 90 days Very Good
c/l
(These
descriptions relate respectively by number to the above current trade
transactions):
1. Logistics
3. Board and timber
This is an established business meeting its larger commitments on
extended terms. Suppliers speak highly
of the subject and the subject is considered equal disproportionately high
creditors figure.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 63.39 |
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1 |
Rs. 98.94 |
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Euro |
1 |
Rs. 70.33 |
INFORMATION DETAILS
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Analysis Done by
: |
KRN |
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Report Prepared
by : |
DPT |
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.