MIRA
INFORM REPORT
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Report Date : |
28.06.2007 |
IDENTIFICATION DETAILS
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Name : |
CANADA FOOD LTD. |
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Registered Office : |
Meshek 51 M. P.
Lachish Darom, |
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Country : |
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Date of Incorporation : |
28.2.2000 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of dried foodstuff. |
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 |
name & address
CANADA FOOD LTD.
Meshek 51
M. P. Lachish
Darom
Telephone 972 8 688 25 39
Fax 972 8 688 96 73
HISTORY
A private limited
company, incorporated as per file No. 51-291423-5 on the 28.2.2000, under the name
PETRA MILLENIUM LTD., which changed to the present name on the 10.02.2003.
Subject was
established in order to continue part of the activities of both a private
limited company MISHMASH HAKFAR LTD., incorporated in 1991 (which ceased
activities) and a non registered business ("EZRA LEVY") founded in
1972, both owned by subject's shareholder and his family.
Subject's
General Manager told us that in 2002, subject was non-active following several
changes in ownership, and that it resumed its activities in March 2003.
For
that period, subject's activities were taken over by MISHMESH HAKFAR LTD.
SHARE CAPITAL
Authorized share capital
SHAREHOLDERS
Subject is fully owned by Ezra Levy.
SOLE DIRECTOR AND GENERAL MANAGER
Ezra Levy, born in 1946.
BUSINESS
Importers and marketers of dried foodstuff, e.g. dried fruits, legumes,
spices, nuts, etc.
Since May 2007, subject also entered the field of import and marketing of
sugar in very large quantities.
Sells mostly to marketing chains and to wholesalers.
Among customers: A. AHARONOV FOOD TRADE, AVIKAM ZINGER COMMERCE &
MARKETING, BAREL FOOD PACKAGINGS, etc.
Most purchases are imports.
Operating from premises, offices and warehouses, owned by the shareholders,
on an area of 1,000 sq. meters in Farm 51 ("Farm" means
"Meshek" in Hebrew),
Having 3 employees (same as in previous years).
MEANS
Current stock is
valued at
The Levy Family owns an agricultural farm on a very large area in the
There are 2 charges for unlimited amounts registered on the company's
assets, in favor of Mizrahi Tefahot Bank Ltd.
ANNUAL SALES
2005 sales claimed
to be
2006 sales claimed
to be
First half of 2007
sales claimed to be
The rise in sales
in 2007 is following the entrance of subject into a new field of activity, i.e.
sugar trade. According to subject's General Manager, monthly sales amount to
OTHER COMPANIES
Ezra Levy also
owns (privately) and operates an agricultural farm, which
includes 80,000 sq. meters of vineyards and some
MISHMESH HAKFAR LTD., non-active.
MARINA MISHMASH HAKFAR LP, non-active.
BANKERS
Mizrahi Tefahot Bank Ltd., Kiryat Gat Branch (No. 433), Kiryat Gat, account
No. 154430.
A check
with the Central Banks' database did not reveal anything detrimental on
subject’s a/m account.
CHARACTER AND
REPUTATION
Mr. Levy was arrested in 1997 on suspicion of evading import taxes
estimated at
In 2002, Ms. Levy informed us the case was closed.
Apart
from that and since then, nothing unfavorable learnt.
Imports of foodstuff to
SUMMARY
Maximum
unsecured credit recommended US$ 250,000.
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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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%)