|
Report Date : |
09.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
GALAXY JEWELLERY FINANCIAL SERVICES (PTY) LTD |
|
|
|
|
Registered Office : |
KPMG
House Narvic Drive Greenacres 6045 P O BOX 1662PORT Elizabeth6000 |
|
|
|
|
Country : |
South
Africa |
|
|
|
|
Date of Incorporation : |
24.05.2005 |
|
|
|
|
Com. Reg. No.: |
M2005/016864/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Subject
main operation is to supply diamond jewellery |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 and a stock exchange that is the
15th largest in the world. Even though the country possesses modern
infrastructure that support a relatively efficient distribution of goods to
major urban centers throughout the region, some components retard growth. The
economy began to slow in the second half of 2007 due to an electricity crisis.
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. Subsequently, the global
financial crisis reduced commodity prices and world demand. GDP fell nearly 2%
in 2009 but has recovered since then. Unemployment, poverty, and inequality
remain a challenge, with official unemployment at nearly 25% of the work force.
Eskom has built two new power stations and installed new power demand
management programs to improve power grid reliability. South Africa's economic
policy has focused on controlling inflation, however, the country has had
significant budget deficits that restrict its ability to deal with pressing
economic problems. The current government faces 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 |
GALAXY
AND CO (PTY)LTD |
|
Country |
South
Africa |
|
Requested
Credit Limit |
R 0.00 |
|
Enquiry
Terms |
30 days |
|
Account
Review |
Recommended
every 6 months |
|
Subject
Contact Person |
STEPHAN
OLIVIER (CEO) |
|
Assessment |
This is
a well-established business. On investigation we made contact with STEPHAN
OLIVIER (CEO), who declined to assisst with the required information. Please
see the available information on the subject below. |
|
Registered
Name |
GALAXY
JEWELLERY FINANCIAL SERVICES (PTY)LTD |
|
Trading
as/ Division Name |
GALAXY
AND CO |
|
Previous
Name |
None |
|
Date of
Name Change |
|
|
Registration
Number |
M2005/016864/07 |
|
Registration
Date |
2005/05/24 |
|
Date
Commenced Trading |
2005-05-24 |
|
Age of
Business |
8 Years
6 Months |
|
History
of Business |
Galaxy
was founded in 1930 by Mr. Icky Kurgan, under the name of I Kurgan & Co
(Pty) Limited, a significant supplier to all major jewellery retail chains in
South Africa. By 1970 Galaxy became the major supplier of diamond jewellery
to the jewellery chain store industry throughout South Africa. The gold price
spiked resulting in high commodity prices which resulted in a drop in unit
sales forcing jewellery retailers to cut orders dramatically. Kurgan &
Co, in an effort to keep the factory production going, responded to this
downturn by opening its own retail outlets; Galaxy & Co. |
|
History
of Principals |
There
are 6 principles within the subject |
|
Shareholders/Members/Partners
of subject and % holding |
In 2005
the incumbent management team purchased the business from Mr. Price, as it
was formerly a subsidiary company of the Mr Price group. |
|
Authorised
Share Capital |
R1000.00 |
|
Issued
Share Capital/Members Contribution |
R 120.00 |
|
Status |
Deregistration
Final |
|
Operations
Assessment |
The
subject main operation is to supply diamond jewellery |
|
Major
Industry Code / SICC |
39211 |
|
Definition
of Code |
Jewellery
and related articles of precious and semiprecious compounts |
|
Head
Office Physical Address |
1 Canal
Close Century Boulevard Century City 7441 The address provided below belongs
to the Distribution Centre of the subject09 Drukkery Road Goodwood CAPE
TOWN7460 |
|
Head
Office Postal Address |
P O BOX
3282 CAPE TOWN 8001 |
|
Current
Tel Number |
0215903600 |
|
Cell
Number |
0868869953 |
|
Web Site
Address |
|
|
Comments |
The
subject status on CIPC is Deregistered- due to annual return non-compliance,
however Mrs Neethling stated that they the company is active We have
conatcted the auditors and await a reply. |
|
Company
Registered Name |
KPMG INC |
|
Trading
Name |
|
|
Registration
Number |
1999/021543/21 |
|
Physical
Address |
KPMG
HouseNarvic DriveGreenacres6045 |
|
Postal
Address |
P O BOX
1662PORT ELIZABETH6000 |
|
Contact
Person |
MICHELLE |
|
Contact
Number |
0413951500 |
|
Email |
|
|
Practice
Number |
900117E |
|
VAT
Number |
4530188665 |
|
Tax
Number |
9559555843 |
|
BEE Status |
Level 2 |
|
Financial
Year End |
|
|
No of
years in Business |
6 Years
9 Months |
|
Website |
|
|
Comment |
|
Previous Auditors Information - No Information on
Record
|
Vat
Number |
Unavailable |
|
Status |
|
|
Vat
Liable Date |
|
|
Tax
Number |
9427680153 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
Unavailable |
|
Comment |
|
Black Economic Empowerment Information - No Information
on Record
ISO Information - No Information on Record
Work Mans Information - No Information on Record
Subsidiaries Information - No Information on Record
Employees Information - No Information on Record
Company Fleet Information - No Information on Record
Offices Information - No Information on Record
|
Branches
Names |
Country |
Province |
|
|
|
|
|
Branch Detail Information |
||
|
Comment |
Galaxy
& Co today is the largest independent jewellery retail chain in Southern
Africa with a national footprint of 80 stores situated in every major
shopping centre and high street location throughout the country with 3 stores
in Namibia. The Namibia stores are held by a wholly owned subsidiary of
Galaxy in the form of Galaxy Jewellers Africa (Pty) Limited. |
|
Organisation Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
CEO |
STEPHANUS
JANKOBUS |
|
|
OLIVIER |
|
||
Key Deals - No Information on Record
Trade References Information - No Information on Record
Judgements - No information on record
BusinessRescue - No Information on Record
Default Listing - No information on record
Notarial Bonds - No information on record
Bank Information - No Information on Record
Bank Code History - No Information on Record
Previous Bank Account Information - No Information on
Record
Deeds Information - No information on record
|
Number
of Principals |
6 |
|
Average
Age of Active Principals |
52 |
|
Active Principals Principal - 1 of 6 GAVIN BLIGNAUT |
|
|
Surname |
BLIGNAUT |
|
First
Name |
GAVIN |
|
Other
Names |
RODNEY |
|
Marital
Status |
|
|
ID
Number |
7002115263088 |
|
Verified
ID Number |
Yes |
|
Current
Age |
43 Years
9 Months |
|
Designation |
BUSINESSMAN |
|
Status |
Active |
|
Appointment
Date |
2005/05/24 |
|
Physical
Address (at time of Appointment) |
6
PERDEBOS STREET,PROTEA VALLEY 7530 |
|
Postal
Address |
P O BOX
3282CAPE TOWN8001 |
|
Current
Tel Number |
0215903600 |
|
Cell
number |
0834634873 |
|
Shareholding/Membership |
0.00 |
Business Information for GAVIN BLIGNAUT
Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
GALAXY JEWELLERS (PTY)LTD |
M2003/019954/07 |
In
Business |
10 Years
10 Months |
0 |
No |
|
Principal Previous Business Interests
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
10
ROTTERDAM ROAD INVESTMENT HOLDING COMPANY (PTY)LTD |
M1997/014982/07 |
Deregistration
Final |
16 Years 4 Months |
0 |
No |
|
|
GALAXY
JEWELLERY FINANCIAL SERVICES (PTY)LTD |
M2005/016864/07 |
Deregistration
Final |
8
Years 8 Months |
0 |
No |
|
Principal Deeds Information Property Interests for GAVIN
BLIGNAUT
|
Title
Deed No. |
T22946/2011 |
Erf/Site
No. |
|
|
Deeds
Office |
CAPE
TOWN |
Physical
Address |
23
LEIDEN UITZICHT SECURITY ESTATE DURBANVILLE |
|
Property
Type |
Freehold |
Extent /
Size |
620.0SQM |
|
Purchase
Date |
2011/02/15 |
Purchase
price |
|
|
%
Ownership |
0.00 |
Bond
Holder |
A B S A
BANK LTD |
|
Bond
Number |
B120712011 |
Bond
Amount |
|
|
Comment |
|
||
RICHARD BUTTERFIELD
|
Surname |
BUTTERFIELD |
|
First
Name |
RICHARD |
|
Other
Names |
None |
|
Marital
Status |
|
|
ID
Number |
5012305072183 |
|
Verified
ID Number |
Yes |
|
Current
Age |
62 Years
11 Months |
|
Designation |
BUSINESSMAN |
|
Status |
Active |
|
Appointment
Date |
2005/05/24 |
|
Physical
Address (at time of Appointment) |
7 MARAIS
ROADHOUT BAY7806 |
|
Postal
Address |
7 MARAIS
ROAD HOUT BAY7806 |
|
Current
Tel Number |
0217902356 |
|
Cell
number |
0826555427 |
|
Shareholding/Membership |
0.00 |
Business Information for RICHARD BUTTERFIELD
Principal
Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
BUTTERSOULE
CHOCOLATE CC |
B2011/033332/23 |
In
Business |
2 Years
2 Months |
0 |
No |
|
|
MAISON
DE CHOCOLAT RESTAURANT CC |
B2011/033137/23 |
In Business |
2 Years
2 Months |
0 |
No |
|
|
SOLAR
ESCAPE INVESTMENTS CC |
B1996/028817/23 |
In
Business |
17 Years
5 Months |
0 |
No |
|
|
TOELANI CONSTRUCTION CC |
B1998/035491/23 |
In
Business |
15 Years
3 Months |
0 |
No |
|
Principal Deeds Information
Principal Previous Business Interests
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
221
NEPTUNE'S ISLE PROPERTIES CC |
B1997/046622/23 |
Deregistration
Final |
16
Years 4 Months |
0 |
No |
|
|
ALAIRE
PROPERTIES CC |
B1996/012067/23 |
Deregistration
Final |
17
Years 5 Months |
0 |
No |
|
|
GALAXY JEWELLERS
(PTY)LTD |
M2003/019954/07 |
In
Business |
10
Years 10 Months |
0 |
No |
|
|
GALAXY JEWELLERY
FINANCIAL SERVICES (PTY)LTD |
M2005/016864/07 |
Deregistration
Final |
8
Years 8 Months |
0 |
No |
|
|
GALPROP
(PTY)LTD |
2007/030682/07 |
Deregistration
Final |
6
Years 6 Months |
0 |
No |
|
|
STORECO
MANAGEMENT SERVICES (PTY)LTD |
M1968/000687/07 |
Deregistration
Final |
45
Years 9 Months |
0 |
No |
|
|
TESSUTI
RETAIL (PTY)LTD |
M2007/025289/07 |
In
Business |
6
Years 6 Months |
0 |
No |
|
|
THE
BUSINESS ZONE 786 CC |
2004/054616/23 |
Deregistration
Final |
9
Years 9 Months |
0 |
No |
|
|
WESTPORT
TRADING (PTY)LTD |
M2007/000519/07 |
In
Business |
6
Years 6 Months |
0 |
No |
|
Property
Interests for RICHARD BUT TERFIELD
|
Title
Deed No. |
T66419/2006 |
Erf/Site
No. |
|
|
Deeds
Office |
CAPE
TOWN |
Physical
Address |
7 MARAIS
SCOTT ESTATE HOUT BAY |
|
Property
Type |
Freehold |
Extent /
Size |
774.0SQM |
|
Purchase
Date |
2006/06/01 |
Purchase
price |
|
|
%
Ownership |
0.00 |
Bond
Holder |
|
|
Bond
Number |
|
Bond
Amount |
|
|
Comment |
|
||
|
Property
Interests for RICHARD BUTTERFIELD |
|||
|
Title
Deed No. |
ST1357/2013 |
Erf/Site
No. |
18712 |
|
Deeds Office |
CAPE
TOWN |
Physical
Address |
22
CHEPSTOWE TIJGERHOF MILNERTON |
|
Property
Type |
Sectional
Title |
Extent /
Size |
76.0SQM |
|
Purchase
Date |
2010/03/18 |
Purchase
price |
|
|
%
Ownership |
0.00 |
Bond
Holder |
A B S A
BANK LTD |
|
Bond
Number |
SB4102013 |
Bond
Amount |
|
|
Comment |
|
||
DARRNE KRAMER
|
Surname |
KRAMER |
|
First
Name |
DARRNE |
|
Other
Names |
JEFFREY |
|
Marital
Status |
|
|
ID
Number |
6210245035083 |
|
Verified
ID Number |
Yes |
|
Current
Age |
51 Years
1 Months |
|
Designation |
EXECUTIVE |
|
Status |
Active |
|
Appointment
Date |
2005/05/24 |
|
Physical
Address (at time of Appointment) |
1 PADMA
ESTATE, AMANDA LANE, MORNINGSIDE, JOHANNESBURG, GAUTENG, 2196 |
|
Postal
Address |
PO BOX
967, WENDYWOOD, WENDYWOOD, 2144 |
|
Current
Tel Number |
0112694040 |
|
Cell
number |
0833266554 |
|
Shareholding/Membership |
0.00 |
Business Information for DARRNE KRAMER
Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
ACDOCO
SA 2007 (PTY)LTD |
M2007/007186/07 |
In
Business |
6 Years
6 Months |
0 |
No |
|
|
ADW
CAPITAL (PTY)LTD |
K2013/209419/07 |
In
Business |
0 |
0 |
No |
|
|
ASTLEY PROPERTIES (PTY)LTD |
M2000/020527/07 |
In
Business |
13 Years
1 Months |
0 |
No |
|
|
CAPITAL
GATE (PTY)LTD |
M2006/031499/07 |
In
Business |
7 Years
7 Months |
0 |
No |
|
|
CAPITAL
GATE HOLDINGS CC |
B2007/107909/23 |
In
Business |
6 Years 6
Months |
0 |
No |
|
|
CAPITAL
GATE ONE (PTY)LTD |
M2007/028667/07 |
In
Business |
6 Years
6 Months |
0 |
No |
|
|
CLIFTON
DUNES INVESTMENTS 214 (PTY)LTD |
M2005/008401/07 |
In
Business |
8 Years
8 Months |
0 |
No |
|
|
INCUBETA
HOLDINGS (PTY)LTD |
M2004/016127/07 |
In
Business |
9 Years
9 Months |
0 |
No |
|
|
MOSS
MORRIS BUSINESS ADVISORY SERVICES (PTY)LTD |
M1997/011616/07 |
In
Business |
16 Years
4 Months |
0 |
No |
|
|
MYSTIC
BLUE TRADING 391 CC |
B2008/143336/23 |
In
Business |
5 Years
5 Months |
0 |
No |
|
|
NOTEWORTHY
TRADE 16 (PTY)LTD |
2010/005639/07 |
In
Business |
3 Years
3 Months |
0 |
No |
|
|
SSA ACCELERATION
GROUP (PTY)LTD |
K2013/178035/07 |
In
Business |
0 |
0 |
No |
|
|
STRAWBERRY
ROSE (PTY)LTD |
M2005/011950/07 |
In
Business |
8 Years
8 Months |
0 |
No |
|
Principal Previous Business Interests
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
ACDOCO
S A (PTY)LTD |
M2007/007226/07 |
Deregistration
Final |
6
Years 6 Months |
0 |
No |
|
|
AMERICAN
HOME IMPROVEMENTS CC |
B1991/026955/23 |
Deregistration
Final |
22 Years 10
Months |
0 |
No |
|
|
BATSWADI PHARMACEUTICALS (PTY)LTD |
M2005/027838/07 |
In
Business |
8 Years
8 Months |
0 |
No |
|
|
CORPORATE
PERFOMANCE INVESTMENT HOLDINGS (PTY)LTD |
M1997/006700/07 |
Deregistration
Final |
16 Years
4 Months |
0 |
No |
|
|
DARREN
KRAMER AND ASSOCIATES CC |
B1990/002295/23 |
Deregistration
Final |
23 Years
11 Months |
0 |
No |
|
|
ENS BUSINESS
ADVISORY SERVICES (PTY)LTD |
2004/016197/07 |
Deregistration
Final |
9 Years
9 Months |
0 |
No |
|
|
FOONDI
MEDIA SOLUTIONS (PTY)LTD |
M2008/001792/07 |
In
Business |
5 Years
5 Months |
0 |
No |
|
|
GALAXY
JEWELLERS (PTY)LTD |
M2003/019954/07 |
In
Business |
10 Years
10 Months |
0 |
No |
|
|
GALAXY
JEWELLERY FINANCIAL SERVICES (PTY)LTD |
M2005/016864/07 |
Deregistration
Final |
8 Years
8 Months |
0 |
No |
|
|
LEW
GEFFEN FINANCIAL SERVICES CC |
B2004/075649/23 |
Conversion
CO/CC or CC/CO |
9 Years
9 Months |
0 |
No |
|
|
MATES
BEAUTY (PTY)LTD |
M2000/025973/07 |
Voluntary
Liquidation |
13 Years
1 Months |
0 |
Yes |
|
|
PRECIOUS
PROSPECT TRADING 273 (PTY)LTD |
2008/001790/07 |
In
Business |
5 Years
5 Months |
0 |
No |
|
|
SASFIN
FINANCIAL ADVISORY SERVICES (PTY)LTD |
1997/010819/07 |
In
Business |
16 Years
4 Months |
0 |
No |
|
|
WESTPORT
TRADING (PTY)LTD |
M2007/000519/07 |
In
Business |
6 Years
6 Months |
0 |
No |
|
|
WRC
TRADING (PTY)LTD |
M2006/016622/07 |
Deregistration
Final |
7 Years
7 Months |
0 |
No |
|
Principal Deeds Information Property Interests for DARRNE
KRAMER
|
Title
Deed No. |
|
Erf/Site
No. |
|
|
Deeds
Office |
|
Physical
Address |
|
|
Property
Type |
|
Extent /
Size |
|
|
Purchase
Date |
|
Purchase
price |
|
|
%
Ownership |
|
Bond
Holder |
|
|
Bond
Number |
|
Bond
Amount |
|
|
Comment |
|
||
Principal - 4 of 6 STEPHANUS OLIVIER
|
Surname |
OLIVIER |
|
First
Name |
STEPHANUS |
|
Other
Names |
JANKOBUS |
|
Marital
Status |
|
|
ID
Number |
6109045011080 |
|
Verified
ID Number |
Yes |
|
Current
Age |
52 Years
2 Months |
|
Designation |
BUSINESSMAN |
|
Status |
Active |
|
Appointment
Date |
2005/05/24 |
|
Physical
Address (at time of Appointment) |
6
GROBLER STREETDURBANVILLE7550 |
|
Postal
Address |
P O BOX
3282CAPE TOWN 8001 |
|
Current
Tel Number |
0215903600 |
|
Cell
number |
0826575124 |
|
Shareholding/Membership |
0.00 |
Business Information for STEPHANUS OLIVIER
Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
EVANGELISE
AFRICA TODAY |
M2002/024973/08 |
In
Business |
11 Years
11 Months |
0 |
No |
|
|
GALAXY
HOLDINGS (PTY)LTD |
M2010/017557/07 |
In
Business |
3 Years
3 Months |
0 |
No |
|
|
GALAXY JEWELLERS (PTY)LTD |
M2003/019954/07 |
In
Business |
10 Years
10 Months |
0 |
No |
|
|
STEPHAN
OLIVIER GENOTE |
6109045011080 |
|
Unknown |
0 |
No |
|
Principal Deeds Information
Principal Previous Business Interests
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
CANYON
SPRINGS INVESTMENTS 133 (PTY)LTD |
M2007/034171/07 |
Deregistration Final |
6
Years 6 Months |
0 |
No |
|
|
CROWN
HILL PROPERTIES 111 CC |
2004/059519/23 |
Deregistration
Final |
9
Years 9 Months |
0 |
No |
|
|
ETHICON
(PTY)LTD |
M1998/004329/07 |
Deregistration
Final |
15
Years 3 Months |
0 |
No |
|
|
GALAXY
JEWELLERY FINANCIAL SERVICES (PTY)LTD |
M2005/016864/07 |
Deregistration
Final |
8
Years 8 Months |
0 |
No |
|
|
GALPROP
(PTY)LTD |
2007/030682/07 |
Deregistration
Final |
6
Years 6 Months |
0 |
No |
|
|
HA-AMI
INVESTMENTS CC |
B2000/073872/23 |
Deregistration
Final |
13
Years 1 Months |
0 |
No |
|
|
MODEL
CASH BUTCHERIES CC |
B1996/000428/23 |
Provisional
Liquidation |
17
Years 5 Months |
0 |
Yes |
|
|
SILVEX
104 CC |
2004/059273/23 |
Deregistration
Final |
9
Years 9 Months |
0 |
No |
|
|
TESSUTI
RETAIL (PTY)LTD |
M2007/025289/07 |
In
Business |
6
Years 6 Months |
0 |
No |
|
|
WESTPORT
TRADING (PTY)LTD |
M2007/000519/07 |
In
Business |
6
Years 6 Months |
0 |
No |
|
|
WRC
TRADING (PTY)LTD |
M2006/016622/07 |
Deregistration
Final |
7
Years 7 Months |
0 |
No |
|
Property
Interests for STEPHANUS OLIVIER
|
Title
Deed No. |
T16247/1997 |
Erf/Site
No. |
0 |
|
Deeds
Office |
CAPE
TOWN |
Physical
Address |
10
BIRKENHEAD DE KELDERS DE KELDERS |
|
Property
Type |
Freehold |
Extent /
Size |
616SQM |
|
Purchase
Date |
1996/10/03 |
Purchase
price |
|
|
%
Ownership |
0.00 |
Bond
Holder |
FIRST
NAT BANK |
|
Bond
Number |
B118841997 |
Bond
Amount |
|
|
Comment |
|
||
Principal - 5 of 6
MICHAEL SMITH
|
Surname |
SMITH |
|
First
Name |
MICHAEL |
|
Other
Names |
CARLIN |
|
Marital
Status |
|
|
ID
Number |
5703075220081 |
|
Verified
ID Number |
Yes |
|
Current
Age |
56 Years
8 Months |
|
Designation |
BUSINESSMAN |
|
Status |
Active |
|
Appointment
Date |
2005/05/24 |
|
Physical
Address (at time of Appointment) |
27
GROBLER STREETDURBANVILLE7550 |
|
Postal
Address |
P O BOX
3282CAPE TOWN8001 |
|
Current
Tel Number |
0118733106 |
|
Cell
number |
0833215308 |
|
Shareholding/Membership |
0.00 |
Business Information for MICHAEL SMITH
Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
GALAXY JEWELLERS (PTY)LTD |
M2003/019954/07 |
In
Business |
10 Years
10 Months |
0 |
No |
|
Principal Previous Business Interests
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
GALAXY
JEWELLERY FINANCIAL SERVICES (PTY)LTD |
M2005/016864/07 |
Deregistration
Final |
8
Years 8 Months |
0 |
No |
|
|
GALPROP
(PTY)LTD |
2007/030682/07 |
Deregistration
Final |
6
Years 6 Months |
0 |
No |
|
|
ND-MS TRADING
ENTERPRISES CC |
M1994/020355/23 |
Deregistration
Final |
19
Years 7 Months |
0 |
No |
|
|
TESSUTI
RETAIL (PTY)LTD |
M2007/025289/07 |
In
Business |
6
Years 6 Months |
0 |
No |
|
|
WESTPORT
TRADING (PTY)LTD |
M2007/000519/07 |
In
Business |
6
Years 6 Months |
0 |
No |
|
Principal Deeds Information Property Interests for MICHAEL
SMITH
|
Title
Deed No. |
T114624/2003 |
Erf/Site
No. |
|
|
Deeds
Office |
CAPE
TOWN |
Physical
Address |
27
GROBLER AURORA DURBANVILLE |
|
Property
Type |
Freehold |
Extent /
Size |
1250.0SQM |
|
Purchase
Date |
2003/09/23 |
Purchase
price |
|
|
%
Ownership |
0.00 |
Bond
Holder |
NEDBANK
LTD |
|
Bond
Number |
B745882003 |
Bond
Amount |
|
|
Comment |
|
||
Principal - 6 of 6
HEIN STOOP
|
Surname |
STOOP |
|
First
Name |
HEIN |
|
Other
Names |
LAUN |
|
Marital
Status |
|
|
ID
Number |
6104195070002 |
|
Verified
ID Number |
Yes |
|
Current
Age |
52 Years
7 Months |
|
Designation |
BUSINESSMAN |
|
Status |
Active |
|
Appointment
Date |
2005/05/24 |
|
Physical
Address (at time of Appointment) |
8
KAREEBERG PLACE, ALBERTSDAL, ALBERTON, 1450 |
|
Postal
Address |
P O BOX
145416, BRACKEN GARDENS, 1450 |
|
Current
Tel Number |
0215903600 |
|
Cell
number |
0834434318 |
|
Shareholding/Membership |
0.00 |
Business Information for HEIN STOOP
Principal Current Business Interests
|
Company
Name |
Registration
No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
CUPID''S
CAVE CC |
B1995/016705/23 |
Deregistration
Process |
18 Years
6 Months |
0 |
No |
|
Principal Previous Business Interests
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
GALAXY
JEWELLERS (PTY)LTD |
M2003/019954/07 |
In
Business |
10 Years 10
Months |
0 |
No |
|
|
GALAXY
JEWELLERY FINANCIAL SERVICES (PTY)LTD |
M2005/016864/07 |
Deregistration
Final |
8
Years 8 Months |
0 |
No |
|
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the
untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
-
The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
-
Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and
philanthropy.
-
Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
-
Excerpts from Times of India dated 30th October 2010 is as
under –
-
Gem & Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has
stopped completely.” Demand has started coming from the US, the UK, Japan and
China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
-
The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market
liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.67 |
|
UK Pound |
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.84.25 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.