MIRA INFORM REPORT

 

 

Report Date :

08.06.2007

 

IDENTIFICATION DETAILS

 

Name :

A.M.C.O. ENGINEERING LTD.

 

 

Registered Office :

P.O. Box 965, Industrial Zone, Shefaram 20200

 

 

Country :

Israel

 

 

Date of Incorporation :

27.8.2003

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importers and marketers of fire extinguishing and installation for infrastructure equipment, e.g. fire extinguishers, piping, etc.

 

 

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 :

Regular

 

 

Litigation :

Clear

 

 

Correct Name & address

 

A.M.C.O. ENGINEERING LTD.

P.O. Box 965

Industrial Zone

SHEFARAM 20200 ISRAEL

Telephone         972 4 950 41 55

Fax                   972 4 950 44 75

 

 

HISTORY

 

A private limited company, incorporated as per file No. 51-344658-3 on the 27.8.2003.

 

Originally established under the name A.M.I. PIPING SYSTEMS LTD., which changed to A.M PIPING SYSTEMS LTD. on 7.6.2004, which changed to the present name on 20.3.2006.

 

 

SHARE CAPITAL

 

Authorized share capital NIS 40,000.00 divided into – 40,000 ordinary shares of NIS 1.00 each, of which shares amounting to NIS 2,000.00 were issued.

 

 

SHAREHOLDERS

 

Subject is fully owned by Haled Abu-Rass.

 

 

DIRECTORS

 

1. Haled Abu-Rass – General Manager,

2. Amin Abu-Rass.

 

 

BUSINESS

 

Importers and marketers of fire extinguishing and installation for infrastructure equipment, e.g. fire extinguishers, piping, etc.

 

Among clients: H.G.I.I. BUILDING MATERIALS, ELECTRA, DALKA ENERGY & SERVICES, HEROUTH ENGINEERING, etc.

 

Among local suppliers: PACKER PLADA, AVROT INDUSTRIES, HAKOHAV METAL VALVED INDUSTRIES, etc.

 

Sole local agents of (main ones, among others):

 

PARADISE, KOFLUSO, both of Korea,

VISION, of Holland.

 

 

 

Operating from rented premises, on an area of 5,000 sq. meters, in Industrial Zone, Shefaram.

 

Having 32 employees in subject and 110 employees serving the whole Group (subject and sister company).

 

 

MEANS

 

Current stock is valued at NIS 8,000,000.

 

Other financial data not forthcoming.

 

There are 5 charges for unlimited amounts registered on the company's assets, in favor of Bank Leumi LeIsrael Ltd.

 

 

ANNUAL SALES

 

2006 Sales claimed to be NIS 18,000,000,

First 5 months of 2007 claimed to be NIS 7,500,000.

 

 

OTHER COMPANIES

 

A.M BUILDING PIPING & INVESTMENTS LTD., owned by Haled Abu-Rass, dealing in buildings maintenance and execution of installation projects in buildings.

 

 

BANKERS

 

Bank Leumi LeIsrael Ltd., Yoqneam Branch (No. 729), Yoqneam.

 

 

CHARACTER AND REPUTATION

 

Nothing unfavorable learned.

 

 

SUMMARY

 

Notwithstanding the refusal to disclose financial data, considered 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