MIRA
INFORM REPORT
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Report Date : |
27.08.2007 |
IDENTIFICATION DETAILS
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Name : |
LAVI PLYWOOD TRADE AND MARKETING LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
26.7.1985 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of plywood, MDF, melamine, veneers, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 500,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Correct Name & address
LAVI PLYWOOD TRADE AND MARKETING LTD.
Industrial Zone
REHOVOT 76360
Telephone 972 8 946 68 78
Fax
972 8 947 30 81
Also trading as
LEVIDEY LAVI LTD., whereas "levidey" means "plywood"
in Hebrew
HISTORY
A private limited company, incorporated as per file No. 51-107935-2 on the
26.7.1985.
SHARE CAPITAL
Authorized share capital
SHAREHOLDERS
1. Mordechai Lavi,
2. Mrs. Dalia Lavi, holding 1 single ordinary share.
DIRECTORS
1. Mordechai (Motty) Lavi - General
Manager,
2. Mrs. Dalia Lavi.
BUSINESS
Importers and marketers of plywood, MDF, melamine, veneers, etc.
Also processors of plywood.
Sales are to carpenters and retailers.
Among clients: AVI ZIV, JACOB NINIO PLYWOOD, HADEKEL, ZIV KITCHENS, etc.
and around 800 other clients (carpentries, furniture manufacturers, kitchens
manufacturers, etc.)
Imports are mainly from
90% of purchases are imports.
Among local suppliers: MAKOR HAFORMICA.
Operating from premises (offices, workshop and warehouse), on an area of
2,500 sq. meters, on a plot of 5,000 sq. meters, owned by the shareholders, in
6 Hayam Road, Industrial Zone, Rehovot.
Having 50 employees (had
MEANS
Current stock is valued at
Machinery and equipment are valued at US$
600,000.
Property (owned by the shareholders) where
subject is operating from, in
There are 10 charges for unlimited amounts
registered on the company's assets, in favor of Bank Leumi LeIsrael Ltd., Israel Discount
Bank Ltd., Union Bank of Israel Ltd., Mercantile Discount Bank Ltd. and a
leasing company.
ANNUAL SALES
2001 sales claimed to be
2002 sales claimed to be
2003 sales claimed to be
2004 sales claimed to be
2005 sales claimed to be
2006 sales claimed to be
First half of 2007 sales claim to be
OTHER COMPANIES
LAMI-NOY LTD., 75% owned by subject, selling hard wooden boards.
P.L. SIGALIOT PROPERTIES LTD., owned by Mordechai Lavi, a real estate
company, owns 20 plots for residential houses construction.
LAVI WOOD INDUSTRIES LTD.
BANKERS
Bank Leumi LeIsrael Ltd., Rehovot Business Branch (No. 978), Rehovot,
account No. 304500/12.
Israel Discount Bank Ltd., Rehovot Branch (No. 045), Rehovot, account No.
887900.
A check with the Central Banks' database did not reveal anything
detrimental on subject’s a/m accounts.
CHARACTER AND REPUTATION
Nothing unfavorable learned.
Subject, a veteran family company, is considered to be one of the leading
plywood importers in
According to
Industrialists' Association data for 2005, revenues of the Furniture and Wood
products branches summed up to US$ 1.574 billion, a 7.5% increase from 2004, of
which US$ 49.4 million derived from exports.
Investments in
machinery and equipment in the branches noted a 28% increase in 2005.
The import of wood
products and furniture in 2005 reached US$ 701.9 million, which represents a 5%
increase from 2004. The wood and timber are imported mostly for construction as
well as for the furniture industries.
According to the
Chairman of the Furniture Industry Union at the Industrialists' Association,
sales of furniture (alone) to the local market for the first 3 quarters of 2006
reached
The import of
furniture in the first 3 quarters of 2006 summed up to US$ 121.4 million (a 20%
increase).
Export of
furniture for the period was US$ 17 million, representing a 15% decrease
comparing to the previous year.
SUMMARY
Good for trade engagements.
Maximum unsecured credit recommended US$ 500,000.
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. |
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)