MIRA
INFORM REPORT
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Report Date : |
03.07.2007 |
IDENTIFICATION DETAILS
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Name : |
COTTON PRODUCTION AND MARKETING BOARD LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
2.7.1956 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Marketing and export of cotton |
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 |
Correct Name
COTTON PRODUCTION AND MARKETING BOARD LTD.
Industrial Zone
Herzliya B
HERZLIYA 46595
Telephone 972 9 960
40 00
Fax 972
9 960 40 10
Also known as
"The
HISTORY
A private limited
company, incorporated as per file No. 51-015044-4 on the 2.7.1956.
SHARE CAPITAL
Authorized share
capital NIS 0.10, divided into - 1 founder of NIS 0.001 each, 495 ordinary
"A" shares, of NIS 0.0001 each, 495 ordinary "B" shares, of
NIS 0.0001 each, fully paid up.
SHAREHOLDERS
Company is owned
by organizations, agricultural cooperative societies and their cooperative
buying organizations, which represent the interests of cotton growers, the main
ones are:
FARMERS FEDERATION
OF ISRAEL, NIR SHITUFI LTD., THE FALCHA WORKERS ORGANIZATION NATIONAL ACS LTD.,
AMIR SUPPLY CO. OF FARMERS FEDERATION OF ISRAEL LTD., PRODUCTION &
DEVELOPMENT LTD., FARMERS TREASURY FOR MORTAGES LTD., YARHIN-HAKAL LTD., COTTON
GROWERS ORGANISATION, SIV-SHEAN LTD., AMIR BI'AF LTD., SHEAN DEVELOPMENT LTD.,
ISRAEL FARMERS CO. LTD., and others.
The State of
Israel through the Ministry of Agriculture is holding the single issued founder
share.
DIRECTORS
1. Avner Barzilay, Chairman,
2. Uri Gilad, General Manager,
3. Shimshon Rodoy,
4. Shaul Golmb,
5. Yuval Oren,
6. Ilan Peretz,
7. Pini Maharam,
8. Mordi Ventura,
9. Carmi Zamir,
10. Gershon Schlissel,
11. Shmuel Medini,
12. Shuki Ogen.
BUSINESS
Dealing with all
matters concerning the policy, administration, production (subject itself is
not a producer), marketing and export of cotton in
Almost all sales
are for export. Most sales are to Europe and
Subject also
responsible for the marketing of grains from the cotton picking, used as
feeding staff for cows.
Most suppliers are
subject's shareholders/owners.
Operating from
offices in
Having 22
employees.
MEANS
Considered to be
of a solid financial standing, but figures are not obtainable.
There are 4 charges for unlimited amounts registered on the company's
assets in favor of Bank Leumi LeIsrael Ltd., Israel Discount Bank Ltd., Bank
Hapoalim Ltd. and The First International Bank of Israel Ltd.
ANNUAL SALES
2005 revenues
claimed to be US$ 40,000,000, almost 100% of which were for export.
2006 revenues
claimed to be US$ 40,000,000, almost 100% of which were for export.
BANKERS
Bank Leumi LeIsrael Ltd., Hahashmona'im
Branch (No. 817), Tel Aviv.
Israel Discount
Bank Ltd., Main Branch (No. 010), Tel Aviv.
CHARACTER AND
REPUTATION
Nothing
unfavorable learned.
Subject is
responsible for the growing of cotton in
Average cotton
production in recent years yields some 20,000 tons of cotton fibers per annum
and around 30,000 tons of grains.
The Israeli cotton
is considered in world markets as of fine quality, designed for textile plants
producing quality fibers.
The Israeli Cotton
is of 2 types "Pima" and "Acala". Production is fully
mechanized.
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/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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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%)