MIRA
INFORM REPORT
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Report Date : |
22nd
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
SHAAR
CHEMICALS LTD. |
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Registered Office : |
Harishonim
Street Industrial
Zone EMEK
HEFER 38800 Israel |
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Country : |
Israel |
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Date of Incorporation : |
26.3.1987 |
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Legal Form : |
Private limited company |
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Line of Business : |
Importers and marketers of chemicals. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
US$ 200,000. |
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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
name & address
SHAAR
CHEMICALS LTD.
Telephone 972 4 622 25 22
Fax 972 4 622 25 77
P. O. Box
12085
Harishonim
street
Industrial
Zone
EMEK HEFER
38800 ISRAEL
HISTORY
A private limited company, registered as per file No.
51-106123-6 on the 26.3.1987.
Originally established under the name A. S. A.
CHEMICALS TRANSPORTATION LTD., which changed to the present name on the
28.8.1995.
SHARE
CAPITAL
Authorized share capital NIS 152.00, divided into -
152 ordinary shares of NIS 1.00 each, of which shares
amounting to NIS 100.00 were issued.
SHAREHOLDERS
1. Yaacov Kastenbaum, 85%,
2. Sharon Kastenbaum, 15%.
SOLE
DIRECTOR AND GENERAL MANAGER
Yaacov Kastenbaum.
BUSINESS
Importers and marketers of chemicals.
Amongst clients: ISRAEL AIRCRAFT INDUSTRIES, TAAS,
SANO, ZOHAR DALIA, INTEL, TEVA, etc.
Among suppliers: MAKHTESHIM, FERTILIZERS, GADOT
CHEMICALS, etc.
25% of purchases are imports.
Operating from owned premises, on an area of 2,000 sq.
meters, in Harishonim street, Emek Hefer Industrial Zone.
Having 17 employees (had 18 in 2003).
MEANS
Stock is valued at NIS 500,000.
There are 12 charges for unlimited amounts registered
on the company’s assets, in favor of local banks and companies.
ANNUAL
SALES
2004 sales claimed to be NIS 27,000,000.
2005 sales claimed to be NIS 30,000,000.
First half of 2006 sales claimed to be NIS 15,000,000.
BANKERS
Israel
Discount Bank Ltd., Hagra Branch (No. 082), Tel Aviv, account no. 468444.
The First
International Bank of Israel Ltd., Herzliya Pituach branch (no. 051), account no.
242438.
A check
with the central bank database did not reveal anything detrimental on subject’s
a/m accounts.
CHARACTER
AND REPUTATION
Nothing unfavorable learned.
According to the chairman of the chemical, pharmaceutical and environment union in the industrialists association, sales of the branch in 2004 increased by 18% to US$ 11.93 billion.
Exports of the branch were US$ 6.43 billion, a 27% increase from 2003, and sales to the local market were US$ 5.5 billion, a 9% increase from 2003.
In the first 3 quarters of 2005, exports were US$ 5.6 billion, 22% increase from the parallel period in 2004.
The chemical industry comprises of 14% of Israel’s industrial manufacturing and 17% of its industrial exports. The industry employs close to 26,000 employees.
SUMMARY
Maximum unsecured credit recommended US$ 200,000.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |