MIRA
INFORM REPORT
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Report Date : |
03.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
NAFTOOL TRADING LTD. |
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Formerly Known As : |
NAFTOOL TRADING (1994) LTD. |
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Registered Office : |
17 Harakon Street, Ramat Gan 52521 |
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Country : |
Israel |
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Date of Incorporation : |
16.2.1994 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Processors,
exporters and marketers of gold jewelry. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
NAFTOOL TRADING
LTD.
17 Harakon Street
RAMAT GAN 52521 ISRAEL
Telephone 972 3 751 03 61/ 2
Fax 972 3 751 00 73
HISTORY
A private limited
company, incorporated as per file No. 51-193897-9 on the 16.2.1994, under the name
NAFTOOL TRADING (1994) LTD., which changes its name to the present one on the
13.7.1995.
SHARE CAPITAL
Authorized share
capital NIS 126,000.00, divided into - 126,000 ordinary shares of NIS 1.00
each, of which shares amounting to NIS 125,100.00 were issued.
SHAREHOLDERS
1. Yossi Naftali,
2. Maya Naftali, holding 1 single share.
SOLE DIRECTOR AND GENERAL MANAGER
Yossi Naftali
BUSINESS
Processors,
exporters and marketers of gold jewelry.
Also importers and
exporters of gold jewelry.
All sales are for
export.
Subject has a lot
of purchasing in India.
Operating from rented premises (offices, workshop),
on an area of 180 sq. meters, in 17 Harakon Street, Ramat Gan.
Having 9
employees.
MEANS
Financial data not
forthcoming.
Subject is an
"Approved Enterprise", and as such entitled to tax benefits and State
incentives.
In June 2001 the Investment Center
Authority approved a US$ 103,000 investment plan for the
expansion of subject's facilities.
There are 2
charges for unlimited amounts registered on the company's assets (fixed and
financial assets), in favor of Mercantile Discount Bank Ltd. and Mizrahi
Tefahot Bank Ltd.
ANNUAL SALES
2005 sales claimed
to be US$ 4,500,000.
2006 sales claimed
to be US$ 3,500,000.
2007 sales claimed
to be US$ 3,500,000.
BANKERS
Mizrahi Tefahot
Bank Ltd., Lev Dizengoff Branch (No. 453), Tel Aviv, account No. 387759.
Mercantile
Discount Bank Ltd., Main Branch (No. 654), Tel Aviv, account No. 283088.
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's
officials refused to disclose financial data, besides sales figures.
According to the Israeli Export Institute,
export of the jewelry branch in 2006 reached US$ 380 million, a significant
increase of from 2005.
There are some 250 jewelry manufacturers, 200 of
which are exporters, manufacturing gold jewelry, silver jewelry and other
fashionable jewelry.
Over 50% of exporters are to the USA, some 20%
to Europe, 5% to Asia (mainly Hong Kong and Thailand) and the balance to the
rest of the world.
SUMMARY
Good for trade
engagements.
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%)