Asset Management and Storage

As the country has been in hard lockdown in all economic sectors, all companies have had to cease trading, causing unquantifiable damage and cessation of cash flow in the entire economy of South Africa. This will have a ripple effect of an increasing wave of bankruptcies pretty much across the board. T Platinum has pivoted and seen a gap in the market to offer our services to financial institutions,  in order to flatten the curve of the rapidly growing wave of asset repossessions.

Vehicle Recovery / Storage / Sales Division

• Cars / bakkies / trucks / motorcycles / boats etc. are going to have to be repossessed at a rapidly escalating rate. 
• There is no point repossessing thousands of vehicles when there is very little appetite to buy these repossessed vehicles in the 2^nd hand / auction market. 
• The existing auctioneering firms are nowhere near geared up to deal with the current situation in terms of digital viewing of assets for sale and information needed for buyers to make informed decisions.
• T Platinum has storage facilities nationwide to decommission and store these vehicles and release them back into the market in a responsible manner in conjunction with the financial institutions that own them. 
• We have repo companies all over South Africa willing to track and repossess any item on behalf of the financial institution / owner. 
• We clean and sanitise the vehicles as well as make comprehensive video footage of the vehicle inside and out in order for South African buyers as well as international buyers to go online and peruse the vehicle / asset safely and comprehensively from any part of South Africa or the world. 
• We also market these vehicles internationally where right-hand vehicles are the order of the day.
• It is in all financial institution’s interest to act together and not repossess and release thousands of vehicles into the market as a massive oversupply will decimate the value of the vehicle / asset. 
• We work with the institutions to slowly release the vehicles / assets back into the market in an orderly manner as the markets pick up. 
• As an example, a vehicle finance division finances a Mercedes Benz for R750,000.00. The purchaser puts down a R150,000.00 deposit leaving a balance of R R600,000.00 owing to the finance institution. On auction under normal circumstances there would be a good opportunity to regain the outstanding capital amount, however, with the growing wave the market will be hopelessly oversupplied leaving the financial institutions compromised.
• T-Platinum offers 24-hour under cover security and each vehicle will be covered with vehicle covers to maintain the integrity of the vehicle / asset until sold. 

Hospitality Division

• The Hospitality Industry has been decimated as a result of the COVID19 Pandemic and very few restaurants / hotels / guest houses / conference centers will be able to resume trading in the foreseeable future. 
• We believe that bankruptcies are going to be rife.  We offer to act on behalf of the bond holder and the tenant to look after the property and all its contents.  I.e. tables, chairs, carpets, electronic equipment, beds, linen and kitchen equipment etc. 
• As there is not really a market for any of this equipment for the foreseeable future, it is in the best interest of the asset/bond holder of the property and the exiting/bankrupt tenant to keep all assets on the premises until such time that there is an upturn in the hospitality industry and the market picks up, generating viable buyers for this equipment and/or the building. 
• T-Platinum undertakes to provide 24-hour security to protect the integrity of the building and contents from theft by the exiting bankrupt tenant or other criminal elements. 
• Most restaurant buildings are specifically built and equipped as a restaurant, as is the case with hotel buildings and hotel business.  It would be far easier when the appetite for the industry returns to re-rent / sell the building and/or the assets in their individuality rather than trying to auction them off in a saturated market.