I've currently shopping around myself with pretty much the exact budget that you have. Done my share of research on TV's. Here's my 10c worth.
Contrast Ratio is a big plus. You should be gunning for as high a number as possible here.
Sinotec is cheap for 2 reasons (IMO). 1) it is manafactured here thus cheaper. 2) You get close to what you pay for. Yes it is a good bang for buck tv (was considering one myself) but its cheaper for reasons other than being locally produced.....
If you look at Game and places like Kay Makan, Govan Mani etc, there are some Great prices on 32" (if you're willing to drop in size) Full HD LCD TV's.
Other things to bare in mind is in SA, even with a HD PVR, you wont be using your 1080p. Sadly its currently limited to 720p which any HD READY tv supports. The only place you'll actually see the benefit is when playing games (assuming you're connecting a PC) or playing Bluray movies as mentioned. There are also rumblings that 1080p is Not the way to go for SD. Still have to read up on that, but apparently it makes the viewing quality on SD bad.
Now if you're still reading this, congratulations

Seriously though, here's my input on tv models.....
Samsung LA32A550 - Very nice tv. Full HD, 30 000:1 dynamic contrast ratio, supports pip.
Samsung LA32B530 - The 2009 replacement of the model above (5 Series). 40 000:1 dynamic contrast ratio, SADLY loses the pip support.
LG LG50 32" - Another Full HD offering. 50 000:1 dynamic contrast ratio, pip.
Those are the models for under R10K.
If you can for out a little extra, I think its the Sony W or Z series that offers you the motionflow (100mhz) which makes TRULY noticable difference.
Thats pretty much where my focus has been.... Not sure if it helps you any, but hope there was something worth taking away.
Cheers