|
Report Date : |
31.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
5TH AVENUE FINE
ART (PTY)LTD |
|
|
|
|
Registered Office : |
404 Jan Smuts Avenue, Craighall Park, Sandton |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
17.04.1991 |
|
|
|
|
Com. Reg. No.: |
M1991/002061/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
· Subject is a direct importer of fine arts, antiques, collectibles, furniture and carpets · Manufacturer of carpets, rugs and mats |
|
|
|
|
No of Employees : |
12 |
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 – 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 |
5TH AVENUE FINE ART (PTY)LTD |
|
Country |
South Africa |
|
Subject Contact Person |
ALIREZA RAFII - Director |
|
Assessment |
This is an established business. On investigation contact was made with ALIREZA RAFII the director of the company. The subject is meeting its commitment with its supplier. No further suppliers were made available. Please see the available information on the subject below. |
|
Registered Name |
5TH AVENUE FINE ART (PTY)LTD |
|
Trading as/ Division Name |
5TH AVENUE FINE ART |
|
Previous Name |
None |
|
Date of Name Change |
None |
|
Registration Number |
M1991/002061/07 |
|
Registration Date |
1991/04/17 |
|
Date Commenced Trading |
1991-04-17 |
|
Age of Business |
23 Years 1 Months |
|
History of Business |
The company is in operation for the past 23 Years 1 Month. |
|
History of Principals |
There is 1 active director within the company namely : ALIREZA RAFII. |
|
Shareholders/Members/Partners of subject and % holding |
100% - ALIREZA RAFII |
|
Authorised Share Capital |
R 0.00 |
|
Issued Share Capital/Members Contribution |
R 0.00 |
|
Status |
Conversion CO/CC or CC/CO |
|
Operations Assessment |
The company is a direct importer of fine arts, antiques, collectibles, furniture and carpets. |
|
Industry/ Customers |
Retailers and wholesalers. |
|
Export |
Yes |
|
Import |
Yes |
|
Import Countries |
China |
|
Major Industry Code / SICC |
31220 |
|
Definition of Code |
Manufacturer of carpets, rugs and mats |
|
Head Office Physical Address |
404 JAN SMUTS AVENUE, CRAIGHALL PARK, SANDTON |
|
Head Office Postal Address |
P O BOX 784191, SANDTON, 2146 |
|
Current Tel Number |
0117812040 |
|
Cell Number |
0827701270 |
|
Current Fax Number |
0117877593 |
|
Current Email Address |
|
|
Web Site Address |
Unavailable |
|
Company Registered Name |
J C BARNARD AND PARTNERS JOHANNESBURG INC |
|
Trading Name |
JCB (JHB) |
|
Registration Number |
2000/022847/21 |
|
Physical Address |
4 Seventh Avenue, Parktown North, 2193 |
|
Postal Address |
P.O. Box 2152, PARKLANDS, 2121 |
|
Contact Person |
IGSAAN |
|
Contact Number |
0115371560 |
|
Email |
|
|
Principals |
9 |
|
Judgements Against Subject |
None On Record |
|
Judgements Against Principals |
None On Record |
|
Subject Verified as Client |
Yes |
|
Practice Number |
913952E |
|
VAT Number |
None |
|
Tax Number |
9950020140 |
|
BEE Status |
Unavailable |
|
Financial Year End |
February |
|
No of years in Business |
13 Years 8 Months |
|
Website |
Previous Auditors Information - No Information on Record
|
Vat Number |
4160121879 |
|
Status |
ACTIVE |
|
Vat Liable Date |
1991/09/30 |
|
Tax Number |
9262166847 |
|
Financial Year End |
February |
Black Economic Empowerment Information - No Information
on Record
ISO Information - No Information on Record
|
Registered |
Yes |
|
Compliance Certified |
Yes |
Subsidiaries Information
- No Information on Record
Employees
|
Number of Employees |
12 |
|
1. Salaried employees |
12 |
|
2. Waged employees |
0 |
|
3. Permanent employees |
12 |
|
4. Casual employees |
0 |
|
5. Contracted employees |
0 |
|
Company Fleet |
No of vehicles: |
Owned/Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is made up of |
6 |
|||
|
Comment |
|
|||
|
Other |
6 |
Owned |
|
|
|
Offices |
Offices |
|
Head Office Owned/ Rented |
Owned |
|
Rental Company |
N/A |
|
Owned by |
5TH AVENUE FINE ART (PTY)LTD |
|
Bank |
Unavailable |
|
Lease Agreement |
N/A |
|
Lease Expire Date |
N/A |
|
Type of Premises |
Office |
|
Branches Names |
Country |
Province |
|
5TH AVENUE FINE ART (PTY)LTD (RIVONIA) |
South Africa |
Gauteng |
|
Branches Owned/ Rented |
Owned |
|
Owned by |
5TH AVENUE FINE ART (PTY)LTD |
|
Bank |
Unavailable |
|
Lease Agreement |
N/A |
|
Lease Expire Date |
N/A |
|
Type of Premises |
Office |
Organisation Chart
|
Level |
Position |
Name |
Comment |
|
1 |
Director |
ALIREZA RAFII |
|
Company Structure
(Ownership)
Note:
One level up and all levels down
|
Holding |
Company |
Sub |
Comment |
|
100 % - ALIREZA RAFII |
5TH AVENUE FINE ART (PTY)LTD |
None |
|
Key Deals - No
Information on Record
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
|
1 |
MEGA FREIGHT |
0119711000 |
|
|
|
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
1 Year |
R1000000.00 |
R1000000 |
30 Days |
R 300000 |
30 Days |
Good Account |
Judgements - No
information on record
Business Rescue - No
Information on Record
Default Listing - No
information on record
Notarial Bonds - No
information on record
|
Bank |
STANDARD BANK |
|
Branch |
SANDTON |
|
Brach Code |
051001 |
|
Bank Account Number |
220411085 |
|
Type of Account |
CURRENT |
|
Account Name |
5TH AVENUE FINE ART (PTY)LTD |
|
Overdraft Facilities |
YES |
|
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
Property Interests
for Company 5TH AVENUE FINE ART (PTY)LTD
|
Title Deed No. |
T56668/1999 |
Erf/Site No. |
0 |
|
Deeds Office |
JOHANNESBURG |
Physical Address |
24 KOORNHOF 2277-0770-000 GERMISTON |
|
Property Type |
Freehold |
Extent / Size |
|
|
Purchase Date |
1999/04/09 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
N B S BANK LTD |
|
Bond Number |
B633621996 |
Bond Amount |
|
Financial
Estimates
|
Previous Year Turnover |
R17000000.00 |
|
Estimated Current Year Turnover |
R 20000000.00 |
|
Current Turnover per month |
R1500000.00 |
|
Current Turnover per annum |
|
|
Comment |
|
|
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 |
55 |
Active Principals
Principal - 1 of 1 ALIREZA RAFFII
|
Surname |
RAFFII |
|
First Name |
ALIREZA |
|
Other Names |
None |
|
ID Number |
5906025234082 |
|
Verified ID Number |
Yes |
|
Current Age |
54 Years 11 Months |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
1991/04/17 |
|
Physical Address (at time of Appointment) |
18 CENTRE ROAD, MORNINGSIDE, SANDTON, GAUTENG, 2157 |
|
Postal Address |
P O BOX 784191, SANDTON, GAUTENG, 2146 |
|
Current Tel Number |
0117834775 |
|
Cell number |
0827701270 |
|
Shareholding/Membership |
100 % |
Principal's
Adverse - No information on record
Business Information for ALIREZA RAFFII
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
5TH AVENUE AUCTIONEERS CC |
B1999/007863/23 |
In Business |
15 Years 3 Months |
0 |
No |
|
|
5TH AVENUE FINE ART (PTY)LTD |
M1991/002061/07 |
Conversion CO/CC or CC/CO |
23 Years 11 Months |
0 |
No |
|
|
CASPIAN COMMERCIAL PROPERTY HOLDINGS CC |
B1999/025047/23 |
In Business |
15 Years 3 Months |
0 |
No |
|
|
DUBAI EXPO CC |
B1999/008314/23 |
In Business |
15 Years 3 Months |
0 |
No |
|
|
E R H GLOBAL ENTERPRISES (PTY)LTD |
K2013/022941/07 |
In Business |
1 Years 1 Months |
0 |
No |
|
|
EIGHTEEN CENTRE ROAD MORNINGSIDE CC |
B1991/009979/23 |
In Business |
23 Years 11 Months |
0 |
No |
|
|
FIDELITY STOCK LIQUIDATORS CC |
B2009/038550/23 |
In Business |
5 Years 5 Months |
0 |
No |
|
|
IRANIAN CHAMBERS OF COMMERCE |
M2000/013166/08 |
In Business |
14 Years 2 Months |
0 |
No |
|
|
PERSAM ENERGY (PTY)LTD |
K2014/080850/07 |
In Business |
0 |
0 |
No |
|
|
PERSICO IMPORT AND EXPORT CC |
B1997/062506/23 |
In Business |
17 Years 5 Months |
0 |
No |
|
|
PERSICO PROPERTY HOLDINGS CC |
B1999/025045/23 |
In Business |
15 Years 3 Months |
0 |
No |
|
|
RAYENFELD FINE ARTS AND ESTATE AGENTS CC |
B1995/005523/23 |
In Business |
19 Years 7 Months |
0 |
No |
|
|
ROSEBANK GALLERY |
5906025234082 |
|
Unknown |
0 |
No |
|
|
SANDTON SQUARE GALLERY CC |
B1994/021654/23 |
In Business |
20 Years 8 Months |
0 |
No |
|
|
TWENTY CENTRE ROAD MORNINGSIDE CC |
B2003/108920/23 |
In Business |
11 Years 11 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 |
|
ALIBIPROPS 1032 CC |
B1996/027328/23 |
In Business |
18 Years 6 Months |
0 |
No |
|
|
IMOD SA CC |
B2007/077903/23 |
Deregistration Final |
7 Years 7 Months |
0 |
No |
|
|
QUIRKS AND THINGS (BLOEMFONTEIN) CC |
B1997/066914/23 |
Dissolved |
17 Years 5 Months |
0 |
No |
|
Principal Deeds
Information
|
Property Interests
for ALIREZA RAFFII |
|||
|
Title Deed No. |
T105520/2013 |
Erf/Site No. |
9 |
|
Deeds Office |
PRETORIA |
Physical Address |
FARMALL AGRICULTURAL HOLDINGS |
|
Property Type |
H |
Extent / Size |
3.6885H |
|
Purchase Date |
2013/04/09 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
I-25282011AT |
Bond Amount |
|
|
Property Interests for
ALIREZA RAFFII |
|||
|
Title Deed No. |
T58888/2013 |
Erf/Site No. |
187 |
|
Deeds Office |
PRETORIA |
Physical Address |
PORT D''AFRIQUE EXT 2 |
|
Property Type |
E |
Extent / Size |
26.0SQM |
|
Purchase Date |
2013/05/14 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
K3172008S |
Bond Amount |
|
|
Property Interests for
ALIREZA RAFFII |
|||
|
Title Deed No. |
T13326/2012 |
Erf/Site No. |
813 |
|
Deeds Office |
PRETORIA |
Physical Address |
18 CENTRE MORNINGSIDE SANDTON |
|
Property Type |
E |
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
STANDARD BANK |
|
Bond Number |
B906061994 |
Bond Amount |
|
|
Property Interests for
ALIREZA RAFFII |
|||
|
Title Deed No. |
T40354/1990 |
Erf/Site No. |
797 |
|
Deeds Office |
PRETORIA |
Physical Address |
31 FLAMBOYANT SANDTON |
|
Property Type |
F |
Extent / Size |
1983.00000000 |
|
Purchase Date |
1990/03/05 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
STANDARD BANK OF SOUTH AFRICA LTD |
|
Bond Number |
B446741990 |
Bond Amount |
|
|
Comment |
|
||
|
Property Interests for
ALIREZA RAFFII |
|||
|
Title Deed No. |
T13326/2012 |
Erf/Site No. |
813 |
|
Deeds Office |
PRETORIA |
Physical Address |
18 CENTRE SANDTON |
|
Property Type |
F |
Extent / Size |
3500.00000000 |
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
STANDARD BANK OF SOUTH AFRICA LTD |
|
Bond Number |
B906061994 |
Bond Amount |
|
|
Property Interests for
ALIREZA RAFFII |
|||
|
Title Deed No. |
T49294/1996 |
Erf/Site No. |
11 |
|
Deeds Office |
PRETORIA |
Physical Address |
44 MELVILLE SANDTON |
|
Property Type |
F |
Extent / Size |
|
|
Purchase Date |
1996/02/18 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
STANDARD BANK OF SOUTH AFRICA LTD |
|
Bond Number |
B482671996 |
Bond Amount |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.03 |
|
UK Pound |
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.33 |
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.