MIRA
INFORM REPORT
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Report Date : |
28th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
ZIONTRONICS
LTD. |
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Registered Office : |
14b Raul Wallenberg Street Tel
Aviv 69719 Israel |
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Country : |
Israel |
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Date of Incorporation : |
1950 |
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Legal Form : |
Private
limited company |
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Line of Business : |
Importers
and marketers of electronic components |
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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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Name & address
ZIONTRONICS LTD.
Telephone 972
3 649 86 42
Fax 972
3 649 89 86
P.O Box 13123 (61131)
14B Raul Wallenberg Street
TEL AVIV
69719 ISRAEL
HISTORY
Originally
established as a non-registered business in 1950 under the name of SIMANTOV ELECTRONICS.
Converted
into a private limited company and registered as such as per file No.
51-122313-3 on the 28.8.1987.
SHARE
CAPITAL
Authorized
share capital NIS 2,640.00, divided into -
2,640
ordinary shares of NIS 1.00 each, of
which shares amounting to NIS 40.00 were issued.
SHAREHOLDERS
1. Zion
Siman-Tov, 50%,
2. Mrs.
Carmela, wife of Siman-Tov, 50%.
SOLE
DIRECTOR AND GENERAL MANAGER
Zion
Siman-Tov.
BUSINESS
Importers
and marketers of electronic components.
Products
include switches, key pads, electro-optic components, capacitors, etc.
Amongst
clients: E.C.I. TELECOM, RAD, NEXUS, MEITAV, FLEXTRONICS, etc.
All of
subject’s suppliers are foreign.
Local
agents of:
TAI TECH,
PANTIT, LITE ON, DON CONNEX, FIRSTOHM, SUPERCOM, DICGU, PRINCETON, APEC, of
Taiwan,
SAMXON, of
Hong Kong,
KONEK, of
Spain,
HUNIN, of
Korea,
CONTINENTAL
DEVICE, CHAMPION, CDIL, of India,
MOSEL, of
the USA,
MYRRA, of
France.
Operating
from rented premises, on an area of 700 sq. meters, in 14B Raul Wallenberg
Street, Tel Aviv.
Having 18
employees (same as in 2002).
MEANS
Stock was
valued at NIS 2,000,000 (2002).
Later
financial data not forthcoming.
There are
no charges registered on the company's assets.
ANNUAL
SALES
2004 sales
claimed to be US$ 2,700,000.
2005 sales
claimed to be US$ 3,000,000.
First half
of 2006 sales claimed to be US$ 1,600,000.
OTHER
COMPANIES
ALINA MICRO
LTD., importers and marketers of micro-electronic components.
BANKERS
Bank Leumi
LeIsrael B.M., Ramat Hahayal Business Branch (No. 682), Tel Aviv, account no.
26400/84.
A check
with the central bank database did not reveal anything detrimental on subject’s
a/m account.
CHARACTER
AND REPUTATION
Nothing
unfavorable learned.
Subject is
a long established business.
During the 2nd half of 2003 and
after, The Electronics and Information Technologies sectors performance had
started to recover from the slow-down in the world’s hi-tech markets,
especially in the Telecommunication field since 2000.
According to the Electronics Manufacturers
Association, 2005 sales of the IT and electronics industries amounted to US$
16.6 billion, a 6% increase from 2004. Exports in 2005 were US 14.2 billion, a
6% increase from 2004.
After several years of downsizing, 3,700
new employees entered the branch in 2004 and further 2,300 in 2005 ,and
currently there are 57,200 employees working in the IT and Electronics sectors
directly.
SUMMARY
Maximum unsecured credit recommended US$ 100,000.
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 |