|
Report Date : |
17.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
VICTOR LIDCHI CC |
|
|
|
|
Registered Office : |
Shop 33,
|
|
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|
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Country : |
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|
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Date of Incorporation : |
21.08.1985 |
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Com. Reg. No.: |
B1985/009418/23 |
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|
|
|
Legal Form : |
Closed Corporation |
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|
|
|
Line of Business : |
Manufacturer
of carpets, Rugs and Mats |
|
|
|
|
No. of Employees : |
12 employees |
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 : |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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; a stock exchange that is the 18th largest in the world; and modern infrastructure supporting a relatively efficient distribution of goods to major urban centers throughout the region. Growth was robust from 2004 to 2007 as South Africa reaped the benefits of macroeconomic stability and a global commodities boom but began to slow in the second half of 2007 due to an electricity crisis and the subsequent global financial crisis' impact on commodity prices and demand. GDP fell nearly 2% in 2009 but recovered in 2010-11. Unemployment remains high and outdated infrastructure has constrained growth. State power supplier Eskom encountered problems with aging plants and meeting electricity demand necessitating "load-shedding" cuts in 2007 and 2008 to residents and businesses in the major cities. Daunting economic problems remain from the apartheid era - especially poverty, lack of economic empowerment among the disadvantaged groups, and a shortage of public transportation. South Africa''s economic policy is fiscally conservative focusing on controlling inflation and attaining a budget surplus. The current government largely follows these prudent policies but must contend with the impact of the global crisis and is facing growing pressure from special interest groups to use state-owned enterprises to deliver basic services to low-income areas and to increase job growth.
|
Source : CIA |
|
Subject Name |
VICTOR LIDCHI CC |
|
Country |
South Africa |
|
Subject Contact
Person |
JAMES KOLOPHA -
0113410367 |
|
Assessment |
This is
a well-established and well -connected business. On investigation
contact was made with the Assistant Manager, JAMES KOLOPHA, who assisted with
the information. The
company only imports goods as such the subject does not have any local trade
references. The
subject is reported to be free of judgements. The
banking information and financial information for the subject has been
declined as this information is considered to be confidential. Please
see the available information for the subject below. |
|
Registered Name |
VICTOR LIDCHI CC |
|
Trading as/
Division Name |
VICTOR LIDCHI |
|
Previous Name |
NONE |
|
Registration
Number |
B1985/009418/23 |
|
Registration Date |
1985/08/21 |
|
Age of Business |
27 Years 3 Months |
|
History of
Business |
HENRI LIDCHI,
VICTOR LIDCHI'S father, was an international dealer in art and Persian
carpets based in Paris. In 1935, during his travels he met Sir Ernest
Oppenheimer who persuaded him to exhibit at the 1936 Empire Exhibition in
Johannesburg. MR. LIDCHI did so with great success, fell in love with the
country, and settled in to expand the business with his family. In 1960,
MAURICE LIDCHI, HENRI'S eldest son left South Africa in later years to
redevelop the London and Paris branches and because buying had become such an
important aspect of the business, it was felt that a full-time member of the
family on the buying market was required. The younger son, VICTOR LIDCHI, was
left to expand the business in South Africa. |
|
History of
Principals |
VICTOR took
on this family tradition in the 1960s, determined to provide quality
affordable persian and oriental carpets. He owns 100 % of the company. |
|
Shareholders/Members/Partners
of subject and % holding |
100 % - VICTOR
LIDCHI |
|
Authorised Share
Capital |
R0.00 |
|
Issued Share
Capital/Members Contribution |
R0.00 |
|
Status |
In Business |
|
Operations
Assessment |
IMPORTS
CEILING PEGEANT AND CARPERTS FROM INDIA, PAKISTAN. |
|
Industry/
Customers |
PUBLIC etc. |
|
Import |
Yes |
|
Import Countries |
India, Pakistan |
|
Major Industry
Code / SICC |
31220 |
|
Definition of
Code |
Manufacture of
carpets,Rugs and Mats |
|
Head Office
Physical Address |
SHOP 33, DUNKELD
WEST CENTER, CNR JAN SMUTS AND BOMPAS ROAD, DUNKELD, JOHANNEBURG, 2196 |
|
Head Office Postal
Address |
PO BOX 733803,
SANDTON, 2146 |
|
Current Tel
Number |
0113410367 |
|
Cell Number |
0823306095 |
|
Current Fax
Number |
0113410355 |
|
Current Email
Address |
|
|
Web Site Address |
|
Company
Registered Name |
SAB
AND T CHARTERED ACCOUNTANTS INC |
|
Trading
Name |
SAB
AND T |
|
Registration
Number |
M1997/018869/21 |
|
Physical
Address |
1ST
FLOOR HAZEL PARK, 119 WITCH HAZEL AVENUE, CENTURION, 0046 |
|
Postal
Address |
P
0 BOX 10512, CENTURION, 0046 |
|
Contact
Person |
CORNELIA
DE BEER |
|
Contact
Number |
0126828800 |
|
Principals |
20 |
|
Judgements
Against Subject |
NONE |
|
Judgements
Against Principals |
NONE |
|
Subject
Verified as Client |
Yes |
|
Practice
Number |
953008 |
|
VAT
Number |
4110217462 |
|
Tax
Number |
9215161200 |
|
BEE
Status |
Unavailable |
|
Financial
Year End |
February |
|
No
of years in Business |
Unknown |
|
Website |
Previous auditors
|
Company Name |
Phone Number |
Time with
previous auditors |
Comment |
|
SAB &T INC |
|
Unknown |
|
|
R PARBHOO INCORPORATED |
|
14 |
|
|
GORDEN AND
PARTNERS |
|
14 |
|
|
Vat Number |
4630117051 |
|
Status |
ACTIVE |
|
Vat Liable Date |
1991/09/30 |
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Tax Number |
9640167848 |
|
Financial Year
End |
June |
|
Comment |
|
|
Black
Economic Empowerment |
|
|
Status |
No |
|
ISO Status |
|
|
ISO Certificate |
No |
|
Workman's
compensation |
|
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
Subsidiaries
Information - No Information on Record
|
Employees |
||||
|
Number of Employees |
12 |
|||
|
1. Salaried
employees |
12 |
|||
|
Company
Fleet |
||||
|
Company Fleet |
No of vehicles: |
Owned/Leased |
Value |
Outstanding
Balance |
|
Fleet Operations |
|
|
|
|
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The Fleet is made
up of |
2 |
|||
|
Comment |
|
|||
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Light delivery Vehicles |
2 |
Owned |
|
|
|
Offices |
Offices |
|
Head
Office Owned/ Rented |
Leased |
|
Rental
Company |
JHI
PROPERTIES |
|
Lease
Agreement |
5
YEARS |
|
Type
of Premises |
SHOP |
Branch Information - No Information on Record
Organisation
Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
MEMBER |
VICTOR LIDCHI |
|
Company
Structure (Ownership)
Note: One
level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
100% VICTOR
LIDCHI |
VICTOR LIDCHI CC |
|
|
Key
Deals - No Information on Record
|
Trade Reference
nr |
Supplier |
Contact |
Surety Value |
Notarial
Bonds |
Comment |
|
1 |
|
|
|
|
The subject has no local trade references as they import
all their goods. |
Judgements - No
information on record
BusinessRescue
- No Information on Record
Default Listing
- No information on record
Notarial Bonds
- No information on record
|
Bank |
ABSA |
|
Branch |
ROSEBANK |
|
Brach Code |
632005 |
|
Type of Account |
CURRRENT |
|
Account Name |
VICTOR LIDCHI CC |
|
Overdraft
Facilities |
YES |
|
Bank Comment |
ACCOUNT NUMBER
DEEMED CONFIDENTIAL |
Bank Code History - No Information on Record
Previous Bank Account Information - No
Information on Record
Deeds Information - No information on record
Financial Estimates
|
Comment |
DEEMED
CONFIDENTIAL |
|
Please note the following: |
|
|
Turnover and assets less than R 1,000,000.00 |
The subject falls
within the National Credit Act |
|
Turnover and assets less than R
2,000,000.00 |
The subject falls
within the Consumer Protection Act |
|
Number of
Principals |
1 |
|
Average Age of
Active Principals |
72 |
|
Active
Principals Principal - 1of 1 VICTOR LIDCHI |
|
|
Surname |
LIDCHI |
|
First Name |
VICTOR |
|
Other Names |
NONE |
|
Marital Status |
Single |
|
ID Number |
4007125133000 |
|
Verified ID
Number |
Yes |
|
Current Age |
72 |
|
Designation |
MEMBER |
|
Status |
Active |
|
Appointment Date |
1985/08/21 |
|
Physical
Address (at time of Appointment) |
10 GROVE ROAD,
GARDENS, 2192 |
|
Postal Address |
PO BOX 733803,
SANDTON, 2146 |
|
Current Tel
Number |
0113410367 |
|
Cell number |
0823306095 |
|
Shareholding/Membership |
100% |
Principal's
Adverse - No information on record
Business
Information for VICTOR LIDCHI
Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
VICTOR LIDCHI CC |
B1985/009418/23 |
In Business |
27 Years 3 Months |
0 |
No |
|
Principal
Previous Business Interests
Average
Age of Previous Business
14 years
|
Company
Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
VICTOR
LIDCHI CONTRACTS CC |
B2008/221419/23 |
Deregistration
Final |
4 Years 4 Months |
0 |
No |
|
|
NEW
ERA WORLD FILMS (PTY)LTD |
M1987/000373/07 |
Deregistration
Final |
25 Years 1 Months |
0 |
No |
|
|
CRIMINON SOUTH
AFRICA |
M1999/008111/08 |
In Business |
13 Years 1 Months |
0 |
No |
|
Principal's
Deeds Information - No information on record
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.99 |
|
UK Pound |
1 |
Rs.87.21 |
|
Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.