|
Report Date : |
14.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
LEONEVAN MATLA
JEWELLERS (PTY) LTD |
|
|
|
|
Registered Office : |
Shop L55 Eastgate Shopping Centre, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
16.11.2000 |
|
|
|
|
Com. Reg. No.: |
M2000/028931/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
·
retailer
of diamonds Wholesale trader of Precious Stones, Jewellery
and Silverware |
|
|
|
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
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 the 16th largest 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. The global financial crisis reduced commodity prices and
world demand. GDP fell nearly 2% in 2009 but has recovered since then, albeit
slowly with 2014 growth projected at about 2%. Unemployment, poverty, and
inequality - among the highest in the world - remain a challenge. Official
unemployment is at nearly 25% of the work force, and runs significantly higher
among black youth. Eskom, the state-run power company, has built two new power
stations and installed new power demand management programs to improve power
grid reliability. Construction delays at two additional plants, however, mean
South Africa is operating on a razor thin margin; economists judge that growth
cannot exceed 3% until those plants come on line. 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 |
LEONEVAN MATLA JEWELLERS (PTY)LTD |
|
Country |
South Africa |
|
Subject Contact Person |
EVAN MERVIS - Director |
|
Assessment |
This is an established business. On investigation contact was made with EVAN MERVIS the director who requested a questionnaire to be sent for completion. We have followed up on the questionnaire on numerous occasions however MR MERVIS requested more time to provide the information. Please see the available information on the subject . |
|
Registered Name |
LEONEVAN MATLA JEWELLERS (PTY)LTD |
|
Trading as/ Division Name |
MERVIS BROTHERS JEWELLERS |
|
Previous Name |
None |
|
Date of Name Change |
None |
|
Registration Number |
M2000/028931/07 |
|
Registration Date |
2000/11/16 |
|
Date Commenced Trading |
2000-11-16 |
|
Age of Business |
13 Years 7 Months |
|
History of Business |
The subject commenced trading as a new company in 2000. |
|
History of Principals |
There are 2 active directors within the company |
|
Shareholders/Members/Partners of subject and % holding |
Unavailable |
|
Authorised Share Capital |
R 4000.00 |
|
Issued Share Capital/Members Contribution |
R 100.00 |
|
Status |
In Business |
|
Operations Assessment |
The subjects main operation is the retail of diamonds |
|
Industry/ Customers |
The general public |
|
Export |
Unknown |
|
Import |
Unknown |
|
Major Industry Code / SICC |
61393 |
|
Definition of Code |
Wholesale trade in precious stones,
jewellery and silverware |
|
Head Office Physical Address |
Shop L55 Eastgate shopping Centre, 46 Bradford Road, BEDFORDVIEW, 2007 |
|
Head Office Postal Address |
P O BOX 988, GERMISTON, 1400 |
|
Current Tel Number |
0116167504 |
|
Cell Number |
None |
|
Current Fax Number |
0116226000 |
|
Current Email Address |
|
|
Web Site Address |
www.mervis.co.za (Under Construction) |
|
Company Registered Name |
EKSTEEN LOUW & BADENHORST INCORPORATED |
|
Trading Name |
EKSTEEN LOUW & BADENHORST |
|
Registration Number |
M1998/024871/21 |
|
Physical Address |
34 WEBBER ROAD, GERMISTON, 1401 |
|
Postal Address |
PO BOX 5522, PRETORIA, 0001 |
|
Contact Person |
ARNO |
|
Contact Number |
0118730203 |
|
Email |
|
|
Principals |
2 |
|
Judgements Against Subject |
None On Record |
|
Judgements Against Principals |
None On Record |
|
Subject Verified as Client |
Yes |
|
Practice Number |
923028E |
|
VAT Number |
4280183262 |
|
Tax Number |
9803027649 |
|
BEE Status |
None |
|
Financial Year End |
December |
|
No of years in Business |
Unknown |
|
Website |
Unavailable |
Previous Auditors Information - No Information on Record
|
Vat Number |
4070197910 |
|
Status |
ACTIVE |
|
Vat Liable Date |
2002/03/01 |
|
Tax Number |
9380097148 |
|
Financial Year End |
February |
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
Branch Information -
No Information on Record
Organisation Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
Director |
EVAN PHILIP MERVIS |
|
|
|
|||
|
1 |
Director |
KENNITH MERVIS |
|
Company Structure
Information - No Information on Record
Note: One level up and all
levels down
Key Deals - No
Information on Record
Trade References
Information - No Information on Record
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 - 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 |
2 |
|
Average Age of Active Principals |
58 |
Active Principals
Principal - 1 of 2 EVAN MERVIS
|
Surname |
MERVIS |
|
First Name |
EVAN |
|
Other Names |
None |
|
ID Number |
7110285214086 |
|
Verified ID Number |
Yes |
|
Current Age |
42 Years 8 Months |
|
Status |
Active |
|
Appointment Date |
2010/04/01 |
|
Physical Address (at time of Appointment) |
10 TREGONING STREET, LINKSFIELD, GAUTENG, 2008 |
|
Postal Address |
P O BOX 751714, GARDENVIEW, GARDENVIEW, 2008 |
|
Current Tel Number |
0116167504 |
|
Cell number |
0823338883 |
|
Shareholding/Membership |
0.00 |
Principal's Adverse -
No information on record
Business Information for EVAN MERVIS
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
CS HENTIQ 1207 (PTY)LTD |
K2012/084707/07 |
In Business |
2 Years 2 Months |
0 |
No |
|
|
LEONEVAN MATLA JEWELLERS (PTY)LTD |
M2000/028931/07 |
In Business |
14 Years 2 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 13 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
ALFA SWEETS (PTY)LTD |
M1996/016710/07 |
Deregistration Final |
18 Years 6 Months |
0 |
No |
|
|
CLIFFLIV NO 6 CC |
B1997/026639/23 |
Deregistration Final |
17 Years 5 Months |
0 |
No |
|
|
MONEYLINE 1435 CC |
B1998/033048/23 |
Deregistration Final |
16 Years 4 Months |
0 |
No |
|
|
PRETORIA SUNS BASKETBALL CLUB CC |
B1998/054208/23 |
Deregistration Final |
16 Years 4 Months |
0 |
No |
|
|
TSHWANE SUNS BASKET BALL CLUB (PTY)LTD |
M2002/003869/07 |
Deregistration Final |
|
0 |
No |
|
Principal Deeds
Information
Property Interests
for EVAN MERVIS
|
Title Deed No. |
T28826/2010 |
Erf/Site No. |
11 |
|
Deeds Office |
JOHANNESBURG |
Physical Address |
10A TREGONING LINKSFIELD JOHANNESBURG |
|
Property Type |
E |
Extent / Size |
|
|
Purchase Date |
2009/12/01 |
Purchase price |
R 2000000.00 |
|
% Ownership |
0.00 |
Bond Holder |
STANDARD BANK OF SOUTH AFRICA L |
|
Bond Number |
B218492010 |
Bond Amount |
R1800000.00 |
Principal - 2 of 2
KENNETH MERVIS
|
Surname |
MERVIS |
|
First Name |
KENNETH |
|
Other Names |
None |
|
ID Number |
4104125050084 |
|
Verified ID Number |
Yes |
|
Current Age |
73 Years 2 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
2001/06/26 |
|
Physical Address (at time of Appointment) |
7 LA PONACHE, 24 MUNDAY AVENUE, MORNINGHILL, GAUTENG, 2008 |
|
Postal Address |
P O BOX 751714, GARDENVIEW, GAUTENG, 2008 |
|
Current Tel Number |
0116165705 |
|
Cell number |
0825205577 |
|
Shareholding/Membership |
0.00 |
Principal's Adverse -
No information on record
Business
Information for KENNETH MERVIS
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
JEWELLERY CLAIM CENTRE (PTY)LTD |
M1999/002492/07 |
In Business |
15 Years 3 Months |
0 |
No |
|
|
LEONEVAN MATLA JEWELLERS (PTY)LTD |
M2000/028931/07 |
In Business |
14 Years 2 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 17
Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
EMESGE (PTY)LTD |
M1987/004360/07 |
Dissolved |
27 Years 3 Months |
0 |
No |
|
|
LEVAN JEWELLERS CC |
B1989/006632/23 |
Deregistration Final |
25 Years 1 Months |
0 |
No |
|
|
TEN ALOE HILL CC |
B1990/005553/23 |
Deregistration Final |
|
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.59.48 |
|
UK Pound |
1 |
Rs.100.93 |
|
Euro |
1 |
Rs.80.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.