MIRA
INFORM REPORT
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Report Date : |
9th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
AMITEX LTD. |
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Registered Office : |
13 Levinsky Street, Tel Aviv 66098 Israel |
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Country : |
Israel |
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Date of Incorporation : |
19.12.1999 |
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Com. Reg. No.: |
51-287163-3 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers, manufacturers and marketers of beddings (sheets, blankets,
etc.). |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 25,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Company Name & Address
AMITEX LTD.
Telephone 972 3 682 44 50
Fax 972 3 683 72 23
13 Levinsky Street
TEL AVIV 66098
ISRAEL
HISTORY
Originally established as a sole
proprietorship in the beginning of the 1970s, under the style "REVIVO
MACHLUF".
Converted into a private limited company, and
registered as such as per file No. 51-287163-3 on the 19.12.1999.
SHARE CAPITAL
Authorized share
capital NIS 38,000.00, divided into -38,000 ordinary shares, of NIS 1.00 each,
of which shares amounting to NIS 100.00 were issued.
SHAREHOLDERS
1. Machluf Revivo, 99%,
2. Mrs. Juliette Revivo, wife of Machluf, 1%.
There are no
registered directors.
GENERAL MANAGER
Arik Revivo, son
of Machluf Revivo.
BUSINESS
Importers,
manufacturers and marketers of beddings (sheets, blankets, etc.).
Subject imports
finished goods, as well as fabrics for manufacturing.
Among clients: DONNA GAY, COMME IL FAUT, LISETTA, etc.
Operating from:
1.
Main offices and a retail store, owned by the shareholders, on an area
of 220 sq. meters in 13 Levinsky Street, Tel Aviv
2.
Plant and warehouse, owned, on an area of 200 sq. meters, in 3 Hamechoga
Street, Tel Aviv.
Having in all 30
employees.
MEANS
Financial data not
forthcoming.
There are 4 charges
for unlimited amounts registered on the company's assets, in favor Bank Leumi
LeIsrael Ltd., Israel Discount Bank Ltd., and a leasing company.
ANNUAL SALES
Sale figures not forthcoming.
BANKERS
Israel Discount
Bank Ltd., Rothschild Blvd. Branch (No. 100), Tel Aviv.
CHARACTER AND REPUTATION
Nothing
unfavorable learnt.
Subject's
officials refused to disclose financial data.
This is a veteran
family business, well known in the local beddings market.
According to the Chairman of the Textile and Fashion division of the
Industrialists’ Association, the sales of the textile industry in 2006 were
expected to reach US$ 2.165 billion, a 6% rise comparing to 2005.
SUMMARY
Notwithstanding
the refusal to disclose financial information, considered good for maximum
unsecured credit of US$ 25,000.
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%)