MIRA
INFORM REPORT
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Report Date : |
13th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
CLASSICA INTERNATIONAL LTD |
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Registered Office : |
P.O.
Box 15104, Main Gate, Jaffa Port, Tel Aviv 61150,
Israel |
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Country : |
Israel |
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Date of Incorporation : |
27.03.1978 |
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Com. Reg. No.: |
51-077876-4 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of general merchandise on a
"Duty Free" basis |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
Company Name & Address
CLASSICA
INTERNATIONAL LTD.
Telephone 972 3 683 71 46
Fax 972 3 681 38 92
P.O. Box
15104
Main
Gate, Jaffa Port
TEL AVIV 61150 ISRAEL
HISTORY
A private limited
company, incorporated as per file No. 51-077876-4 on the 27.3.1978.
SHARE
CAPITAL
Authorized share capital
NIS 600,002.00, divided into –
1,000 management shares of NIS 0.0001 each,
1,000
management shares of NIS 1.00 each,
19,000 ordinary shares of NIS 0.0001 each,
599,000
ordinary shares of NIS 1.00 each, of which shares amounting to NIS 1,600.42
were issued.
SHAREHOLDERS
1.
Gulio Hassan, 50%,
2.
Mrs. Jasmin Hassan, wife of Julio, 50%.
DIRECTORS
1.
Gulio Hassan, General Manager,
2.
Mrs. Jasmin Hassan.
BUSINESS
Importers
and marketers of general merchandise on a "Duty Free" basis.
Subject
supplies goods to ships, planes and the UN Forces.
Also
sells to the United Nation Organization in New York.
Operating
from rented premises (offices and bonded warehouses), on an area of 2,000 sq.
meters near Main Gate, Jaffa Port, Tel Aviv.
Having 20
employees (same as in 2006).
MEANS
Current stock is
valued at US$ 1,000,000 (was valued at US$ 1,500,000 in average in 2006, same
as in previous years, however decided to lower stock quantity held).
There are
7 charges for unlimited amounts and 1 charge for a sum of US$ 149,703.04 registered on the company's
assets, in favor of local banks and companies.
ANNUAL
SALES
1999
sales claimed to be US$ 8,000,000.
2000
sales claimed to be US$ 6,000,000.
2001
sales claimed to be US$ 4,000,000.
2002-2004
sales figures not forthcoming.
2005
sales claimed to be US$ 5,000,000.
2006
sales claimed to be US$ 4,600,000.
OTHER
COMPANIES
The
Hassan couple, owner of subject, also own foreign companies part of the
CLASSICA Group, among them:
CLASSICA
OVERSEAS (CYPRUS) LTD,
CLASSICA
OVERSEAS (RWANDA) SARL,
Also holding:
CASA
ITALIANA LTD., deals in real-estate, constructing 2 building apartment in Tel
Aviv,
CASA
ITALIANA CONSTRUCTION CO. LTD.
Holding
also other local non-active companies.
Mr. Hassan, informed
us that in last recent years he sold his shares in other companies (TOUR LINK
LTD. and CLASSIC-AIR LTD. and their affiliates).
BANKERS
Bank
Leumi LeIsrael Ltd., Central Branch (No. 800), Tel Aviv,
account
No. 835920/69.
A
check with the Central Banks' database did not reveal anything detrimental
regarding subject’s a/m account.
CHARACTER
AND REPUTATION
Nothing
unfavorable learnt.
Subject
is a long established company.
The
CLASSICA Group operates in several markets across the globe, notably in the
African markets, working with government and U.N. organs.
During
the 2001/2, subject closed its branches in Ashdod and Haifa Ports.
SUMMARY
Good for trade
engagements.
Maximum
unsecured credit recommended US$ 150,000.
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 |
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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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