MIRA INFORM REPORT

 

 

 

Report Date :

26.09.2008

 

IDENTIFICATION DETAILS

 

Name :

THE GERALD AND MARC HOBERMAN COLLECTION (PTY) LTD

 

 

Registered Office :

6 & 17 Victoria Junction, Prestwich Street, Green Point, CAPE TOWN, Western Cape

 

 

Country :

South Africa

 

 

Date of Incorporation :

01.06.1999

 

 

Com. Reg. No.:

1999/000167/07

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Publishers of Coffee Table Books, Postcards, etc.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

COMPANY NAME

 

THE GERALD AND MARC HOBERMAN COLLECTION (PTY) LTD

 

 

PHYSICAL ADDRESS    

 

6 & 17 Victoria Junction

Prestwich Street

Green Point

CAPE TOWN

Western Cape

 

 

POSTAL ADDRESS

 

P O Box 60044

VICTORIA JUNCTION

8001

 

TELEPHONE NUMBER: 021 419 6657

FAX NUMBER:  021 425 4410

 

 

SHAREHOLDERS

 

G HOBERMAN (Snr)

M HOBERMAN (Jnr)

 

 

ASSOCIATE COMPANIES

 

HOBERMAN COLLECTION UK

 

 

DIRECTORS

 

G HOBERMAN (Snr)

M HOBERMAN (Jnr)

 

 

BANKER

 

NEDBANK, Cape Town Commercial branch,.  It was stated that the subject enjoys overdraft facilities available.  Utilisation is stated to be nil as credit balances are normally maintained at the bank.

 

DATE REGISTERED

 

1 June 1999

Registration Certificate Number 1999/000167/07

 

The subject is reported to have been in existence in different forms prior to being registered as a private company.  The foreign companies are reported to be well established.

 

 

VAT NUMBER    

 

4210185783

 

 

MAJOR OPERATION

 

Publishers of coffee table books, postcards, etc.

 

 

MAJOR SUPPLIERS

 

TRIDENT PRESS

FORMS MEDIA INDEPENDENT

CASTLE GRAHPICS

STURROCK SHIPPING

 

 

MAJOR CUSTOMERS OR BUSINESS SECTORS

 

Retailers and wholesalers

 

 

AREA OF DISTRIBUTION AND SELLING

 

South Africa

 

 

EXPORTS

 

Neighbouring countries

 

 

TOTAL EMPLOYEES

 

13

 

OTHER PREMISES   

 

None

 

 

OWNED OR LEASED

 

The premises are reported to be owned by the company.

 

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

 

 

AUDITORS

 

VANESSA LAUBSCHER, Cape Town 021 976 3039

 

 

YEAR END    

 

FEBRUARY

 

 

INSURANCE BROKERS 

 

WEST GARTH MERCER

 

 

TRADE REFERENCES – APRIL 2001

 

            PERIOD            HIGHEST          AVERAGE         TERMS             PAYMENT         EXPERIENCE

                                    CREDIT            CREDIT                                    PATTERN

 

1.         1 yr                   R200 000          R200 000          60 days             60/65 days        Good

 

2.         Old acc.            R60 000            R  20 000 -        30 days             60 days             Fair

                                                            R  60 000                                  by arrangement 

 

3.         1996                 R200 000          R  40 000          60 days             60 days             Very good

                                    c/l

 

CURRENT TRADE REFERENCES

 

            PERIOD            HIGHEST          AVERAGE         TERMS             PAYMENT         EXPERIENCE

                                    CREDIT            CREDIT                                    PATTERN

 

1.         2007                 R100 000          R30 000 -          30 days             30 days             Very good

                                    c/l                     R50 000

 

2.         2005                 R    7 500          R  5 000            30 days             30 days             Very good

 

3.         2007                 open                 R  5 000            30 days             30 days             Very good

 

 

COMMENTS

 

This is an established business that has been in existence for a number of years.  The subject is meeting its commitments timeously.  We have not traced dealings to an extent of $1 000 000 and would prefer to see a far lesser amount spread and secured.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.43

UK Pound

1

Rs.85.38

Euro

1

Rs.67.95

 

 

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

Unfavourable & favourable factors carry similar weight in credit consideration. 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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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