MIRA
INFORM REPORT
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Report Date : |
20th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
SHINTRACO
LTD. |
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Registered Office : |
P.O. Box 1825 (52117), 16 Aba
Hillel Silver Street, Ramat Gan 52506 Israel. |
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Country : |
Israel |
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Date of Incorporation : |
05.11.1991 |
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Com. Reg. No.: |
51-161820-9 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Importers and marketers of
fodder and basic foodstuff, e.g. raw materials, commodities, sugar, edible
oil, rice, 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$
2,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Company Name & Address
SHINTRACO LTD.
Telephone 972 3 751 10 04
Fax 972 3 752 35 08
P.O. Box 1825 (52117)
16 Aba Hillel Silver Street
RAMAT GAN 52506 ISRAEL
HISTORY
A Private Limited Company,
incorporated as per file No. 51-161820-9 on the 5.11.1991.
SHARE CAPITAL
Authorized share capital NIS
430,000.00, divided into -
430,000 ordinary shares of NIS
1.00 each, of which shares amounting to NIS 426,000.00 were issued.
SHAREHOLDERS
1. PROALUM S.A., 76%, of Genève, Switzerland,
2. Shalom Hatuka, 24%.
There are no registered
directors.
GENERAL MANAGER
Shalom Hatuka.
BUSINESS
Importers and marketers of fodder
and basic foodstuff, e.g. raw materials, commodities, sugar, edible oil, rice,
etc.
Among clients: ANGEL'S BAKERY,
TELMA – UNILEVER, EDEN CANDY & FOOD INDUSTRIES, ACHDUT BAKERY,
STRAUSS-ELITE, PRINCE TEHINA MANUFACTURING, etc
All purchases are from import.
Operating from rented premises:
1. on an area of 180 sq. meters in 16 Aba Hillel Silver Street,
Ramat Gan,
2. Kibbutz Hulda- warehouse on an area of 1,000 sq. meters.
Having 10 employees.
MEANS
Current stock is valued at NIS
10,000,000.
There are 18 charges for
unlimited amounts, and a further charge on the sum of Austrian Schillings
2,394,000 registered on the company's assets, in favor of local banks.
ANNUAL SALES
1996 sales claimed to be NIS
40,000,000.
1999 sales claimed to be NIS
80,000,000.
2000 sales claimed to be NIS
70,000,000.
2001-2003 sales figures not
forthcoming.
2004 sales claimed to be NIS
216,000,000.
2005 sales claimed to be NIS
255,000,000.
Projected 2006 sales NIS
300,000,000.
OTHER COMPANIES
SHLOMTZIYON ENTERPRISE K.P. LTD.,
25% held by Shalom Hatuka, importers and marketers of heavy-duty equipment.
BANKERS
Bank Hapoalim Ltd., Pinkas Branch
(No. 754), Tel Aviv, account No. 145522.
Mizrahi Tefahot Bank Ltd.,
Hamigdal Branch (No. 477), Ramat Gan, account No. 285840.
Israel Discount Bank Ltd., Kikar
Yahalom Branch (No. 123), Ramat Gan, account No. 350400.
A check with the Central Banks' database did not
reveal anything detrimental on subject’s a/m accounts.
CHARACTER AND REPUTATION
Nothing unfavorable learned.
According to the Foodstuff Industry Union in the
Industrialists' Association, exports of the foodstuff branch in 2005 were US$
656.4 million, 10% increase from 2004.
Exports were mainly to the EU (US$ 297.6 million, 12%
increase) and the USA (US$ 84 million, 26% increase).
In the first quarter of 2006, exports were US$ 175.8
million, 1.6% decrease compared to the parallel period in 2005. Exports were
mainly to the EU (US$ 75.7 million, 7.7% decrease) and the USA (US$ 25.9
million, 4.9% increase).
Imports of foodstuff to Israel in 2005 were US$ 1.04
billion, 6% increase from 2004. In the first quarter of 2006, imports were US$
302 million, 5.1% increase compared to the parallel period in 2005.
SUMMARY
Good for trade engagements.
Maximum unsecured credit recommended US$ 2,000,000.
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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