MIRA INFORM REPORT

 

 

Report Date :

29.06.2007

 

IDENTIFICATION DETAILS

 

Name :

YES PHARMA LTD.

 

 

Registered Office :

P.O. Box 11075, Sofri House No. 33, Har Tov Industrial Zone , Beit Shemesh 99100 Israel

 

 

Country :

Israel

 

 

Date of Incorporation :

17.01.2005

 

 

Com. Reg. No.:

51-363979-9

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Agencies in the field of raw materials for the pharmaceutical branch.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Company Name & Address

 

YES PHARMA LTD.

P.O. Box 11075

Sofri House No. 33

Har Tov Industrial Zone

BEIT SHEMESH 99100 ISRAEL

Telephone 972 2 992 99 33

Fax           972 2 992 99 55

 

 

HISTORY

 

A private limited company, incorporated as such as per file No. 51-363979-9 on the 17.1.2005.

 

 

SHARE CAPITAL

 

Authorized share capital NIS 10,000.00, divided into - 1,000,000 ordinary shares of NIS 0.01 each, of which shares amounting to NIS 100.00 were issued.

 

 

SHAREHOLDERS

 

Subject is fully owned by Gideon Schurder.

 

 

SOLE DIRECTOR AND GENERAL MANAGER

 

Gideon Schurder.

 

 

BUSINESS

 

Agencies in the field of raw materials for the pharmaceutical branch.

 

Also international traders in raw materials for the pharmaceutical field.

 

All sales are on a commission basis.

 

All of subject suppliers are foreign.

 

Among subject’s customers: TEVA PHARMACEUTICALS, DEXXON, TARO PHARMACEUTICAL INDUSTRIES, CHEMAGIS, CTS CHEMICAL INDS., etc.

 

Sole local agents of:

CIPLA, NICHOLAS PIRAML, INDSWIFT, BENZOCHEM, all of India,

STEROID, of Italy,

CRYSTAL PHARMA, of Spain.

 

Operating from rented premises, on an area of 160 sq. meters, in the Har Tov Industrial Zone, Beit Shemesh.

 

Having 9 employees (had 5 in the beginning of 2006).

           

 

MEANS

 

Holding no stocks, work is based on orders.

Financial data not forthcoming.

 

There is 1 charge for unlimited amount registered on the company assets, in favor of Bank Hapoalim Ltd.

 

 

ANNUAL SALES

 

Actual revenues derive from commission on sales.

2005 sales volume claimed to be US$ 2,500,000, of which US$ 1,500,000 for exports.

2006 sales volume claimed to be US$ 4,500,000, of which US$ 1,250,000 for exports.

 

 

BANKERS

 

Bank Hapoalim Ltd., Beit Shemesh Branch (No.692), account No. 531386.

 

A check with the Central Banks' database did not reveal anything detrimental on subject’s a/m account.

 

 

CHARACTER AND REPUTATION

 

Nothing unfavorable learned.

 

According to the Industrials Association, sales of the pharmaceutical sector reached US$ 3.1 billion in 2005, a 29% increase from 2004. Sales to the local market were US$ 600 million, same as in 2004, and exports were US$ 2.5 billion, 40% increase from 2004.

 

In the first 3 quarters of 2006, exports were US$ 2.27 billion (50% increase compared to the parallel period in 2005). Most exports (72%) are to the USA and 13% to the EU.

 

The pharmaceutical market is considered stable and payment morality is good.

 

 

SUMMARY

 

Good for trade engagements.

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions