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The need for additional debt or additional financing
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Steinheist

The need for additional debtor additional financing

The need for additional debt
or additional financing

Full Transcript

00:00:01.000 --> 00:00:04.032
The need for additional debt or additional financing.
Duration
4 seconds
Views
20
Timestamp in Movie
00:28:48
Uploaded
Apr 30, 2025
Season
1
Episode
3
Genres
documentary, crime
Production
IdeaCandy

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Movie Summary

The biggest corporate scandal in South African history, the fall of Steinhoff led to a loss of R200 billion. Steinheist untangles the story: the investors who were taken in; the victims and the CEO, Markus Jooste, who's still a fr...
S01 • E02 But in all of this, - Steinheist 00:10
But in all of this,
S01 • E01 Steinhoff was always the stock that... We don't understand it. - Steinheist 00:11
Steinhoff was always the stock that... We don't underst...
S01 • E03 Significant related-party transactions. - Steinheist 00:05
Significant related-party transactions.
S01 • E03 When there's many year-end adjustments. - Steinheist 00:08
When there's many year-end adjustments.
S01 • E02 Announced his arrival in town, - Steinheist 00:08
Announced his arrival in town,
S01 • E03 -Dominant management or a dominant CEO. - Steinheist 00:12
-Dominant management or a dominant CEO.
S01 • E02 For a multi-millionaire - Steinheist 00:14
For a multi-millionaire
S01 • E01 One of the things we observed from our side was the low tax rates. - Steinheist 00:12
One of the things we observed from our side was the low tax ...
S01 • E03 When there is a lot of complex transactions - Steinheist 00:11
When there is a lot of complex transactions
S01 • E02 We started out with one shop in Mossel Bay and ended up with 400 stores. - Steinheist 00:05
We started out with one shop in Mossel Bay and ended up with...
S01 • E01 Now, if you're a company operating in the 28% tax jurisdiction, - Steinheist 00:11
Now, if you're a company operating in the 28% tax juris...
S01 • E02 He also created a R100 million trust - Steinheist 00:12
He also created a R100 million trust
S01 • E01 So, these are some of the issues that shareholders, - Steinheist 00:10
So, these are some of the issues that shareholders,
S01 • E03 Deloitte needs to take responsibility for what happened. - Steinheist 00:05
Deloitte needs to take responsibility for what happened.
S01 • E02 I mean, who doesn't want to be part of that business? - Steinheist 00:04
I mean, who doesn't want to be part of that business?
S01 • E03 I think they were one of the key failures - Steinheist 00:10
I think they were one of the key failures
S01 • E02 One afternoon Braam called me and he said, "Here's an idea for you." - Steinheist 00:14
One afternoon Braam called me and he said, "Here's...
S01 • E03 They screwed up, with any doubt, - Steinheist 00:08
They screwed up, with any doubt,
S01 • E01 The manufacturing, sourcing, - Steinheist 00:28
The manufacturing, sourcing,
S01 • E03 One of the root causes that we also discovered was that - Steinheist 00:15
One of the root causes that we also discovered was that