MIRA INFORM REPORT

 

 

Report Date :

04.04.2013

 

IDENTIFICATION DETAILS

 

Name :

GONSENHAUSERS FINE RUGS CC

 

 

Registered Office :

Shop 4 The Palms, 145 Sir Lowry Road, Salt River, Capetown, 8010

 

 

Country :

South Africa

 

 

Date of Incorporation :

25.10.2007

 

 

Com. Reg. No.:

2007/215990/23

 

 

Legal Form :

Closed Corporation

 

 

Line of Business :

Import and Wholesale of rugs and carpets

 

 

No. of Employees :

07

 

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 :

Unknown 

 

 

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 Unemployment remains high and outdated infrastructure has constrained growth.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

GONSENHAUSERS FINE RUGS CC

Country

South Africa

Subject Contact Person

CHARLES GONSENHAUSER - Managing Member

Assessment

This is an established business.

 

On Investigation contact was made with the managing member MR. CHARLES GONSENHAUSER who assisted with the basic information.

 

Trade references were declined due to the information being confidential.

 

The subject's financial information was not available.

 

A bank code C was obtained for an amount of R 500 000 over a period of 30 days.

 

Please see the available information on the subject below.

 

 

Company information

 

Registered Name

GONSENHAUSERS FINE RUGS CC

Trading as/ Division Name

GONSENHAUSERS FINE RUGS

Previous Name

None

Registration Number

2007/215990/23

Registration Date

2007/10/25

Date Commenced Trading

2007-10-25

Age of Business

5 Years 5 Months

History of Business

The subject was established as a new business in 2007 and operations commenced immediately.

History of Principals

There is currently 1 active member within the business.

Shareholders/Members/Partners of subject and % holding

100 % - CHARLES GONSENHAUSER

Authorised Share Capital

R0.00

Issued Share Capital/Members Contribution

R0.00

Status

In Business

Operations Assessment

Import and Wholesale of rugs and carpets.

Industry/ Customers

Wholesale to all major furniture companies such as WOOLWORTHS, CORI CRAFT and retail sales to the general public.

Export

Yes

Export Countries

 

Import

Yes

Import Countries

 

Major Industry Code / SICC

61310

Definition of Code

Wholesale trade in textiles, clothing and footwear

Head Office Physical Address

SHOP 4 THE PALMS, 145 SIR LOWRY ROAD, SALT RIVER, CAPETOWN, 8010

Head Office Postal Address

P O BOX 12053, MILL STREET GARDEN, CAPE TOWN, 8010

Current Tel Number

0214624819

Current Fax Number

0214624819

Current Email Address

charles@finerugs.co.za

Comments

Further information of the exporting and importing countries were not made available.

 

 

Auditors information

 

Company Registered Name

MOORE STEPHENS BKV INC

Trading Name

MOORE STEPHENS

Registration Number

M2002/031472/21

Physical Address

THE GATEWAY, 3RD AND 4TH FLOOR, CENTURY WAY, CENTURY CITY, 7441

Postal Address

P 0 BOX 1955, OR DOCEX 209, CAPE TOWN, 8000

Contact Person

ANDREW

Contact Number

0215258600

Principals

7

Subject Verified as Client

Yes

Practice Number

945846

VAT Number

4930205184

Tax Number

9609215158

BEE Status

 

Financial Year End

February

No of years in Business

10

Previous Auditors Information - No Information on Record

 

Tax Information - No Information on Record

 

Black Economic Empowerment Information - No Information on Record

 

ISO Information - No Information on Record

 

 

Workman's compensation

 

Registered

Yes

Compliance Certified

Yes

 

Company Structure

 

Subsidiaries Information - No Information on Record

 

Employees

Number of Employees

7

1. Salaried employees

7

2. Waged employees

 

3. Permanent employees

7

Company Fleet

Company Fleet

No of vehicles:

Owned/Leased

Value

Outstanding Balance

Fleet Operations

 

 

 

 

The Fleet is made up of

1

Comment

 

Cars

1

Owned

 

 

 

Offices

 

Offices

Offices

Head Office Owned/ Rented

Leased

Rental Company

OMNICRON

Type of Premises

Showroom and offices

Comment

 

 

Branch Information

Branches Names

Country

Province

GONEHAUSERS FINE RUGS

South Africa

 

 

Branch Detail Information

Branches Owned/ Rented

Leased

Rental Company

THE PIRAMID GROUP

Type of Premises

Offices and a showroom

 

Management Overview

 

Organisation Chart

Level

Position

Name

Comment

 

1

Managing Member

CHARLES GONSENHAUSER

 

 

Company Structure (Ownership)

Note: One level up and all levels down

 

Holding

Company

Sub

Comment

100% - CHARLES GONSENUSER

GONSENHAUSERS FINE RUGS CC

 

 

 

Key Deals - No Information on Record

 

Trade References Information - No Information on Record

 

 

Adverse Information on Subject

 

Judgements - No information on record

 

Business Rescue - No Information on Record

 

Default Listing - No information on record

 

Notarial Bonds - No information on record

 

 

Bank Information

 

Bank

STANDARD BANK

Branch

SEA POINT

Brach Code

051001

Bank Account Number

071043667

Type of Account

Current

Account Name

GONSENHAUSERS FINE RUGS CC

Overdraft Facilities

None

Bank Code

C FOR R 500 000

Bank Comment

The subject's bankers consider them good for all business normal engagements

 

Bank Code History - No Information on Record

 

Previous Bank Account Information - No Information on Record

 

Deeds Information - No information on record

 

 

Principals

 

Number of Principals

1

Average Age of Active Principals

44

Active Principals Principal - 1of 1 CHARLES GONSENHAUSER

Surname

GONSENHAUSER

First Name

CHARLES

Other Names

None

Marital Status

Married

ID Number

6908165330083

Verified ID Number

Yes

Current Age

44

Designation

MEMBER

Status

Active

Appointment Date

2007/10/25

Physical Address (at time of Appointment)

6 KINKIEWAY AVENUE, NEWLANDS, 7700

Postal Address

P 0 BOX 12053, MILL STREET, 8001

Current Tel Number

0216718401

Cell number

0876718401

Shareholding/Membership

100%

 

Principal's Adverse - No information on record

 

Business Information for CHARLES GONSENHAUSER

 

Principal Current Business Interests

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

GONSENHAUSERS FINE RUGS CC

2007/215990/23

In Business

5 Years 5 Months

0

No

 

GONSENHAUSERS

6908165330083

 

Unknown

0

No

 

 

Principal Previous Business Interests

 

Average Age of Previous Business                                10 Years

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

GONSENHAUSER CRESER PROPERTIES CC

B1998/000220/23

Deregistration Final

15 Years 2 Months

0

No

 

PATIN TRADING 225 (PTY) LTD

M2007/020521/07

Deregistration Final

5 Years 8 Months

0

No

 

 

Principal's Deeds Information - No information on record

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.39

UK Pound

1

Rs.82.05

Euro

1

Rs.69.59

 

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%)

 

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.