MIRA
INFORM REPORT
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Report Date : |
24.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHARON PURATUS
LIMITED PARTNERSHIP |
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Registered Office : |
P. O. Box 832, Ad Halom Industrial Zone,
Ashdod 77106 |
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Country : |
Israel |
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Date of Incorporation : |
12.11.2002 |
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Legal Form : |
Limited Partnership |
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Line of Business : |
Manufacturers and marketers of raw materials, additives and mixtures
for the baking field. |
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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Maximum Credit Limit : |
US$ 400,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name & address
SHARON PURATUS
LIMITED PARTNERSHIP
P.O. Box 832
Ad Halom
Industrial Zone
ASHDOD 77106 ISRAEL
Telephone 972 8 854 98 00
Fax 972 8 854 44 94
HISTORY
A limited
partnership, incorporated as per file No. 55-021231-3 on the 12.11.2002.
PARTNERS
1. SHARON PURATUS LTD., being the general partner (this partner is registered as the authorized
signatory partner),
2. PURATOS ISRAEL LTD.,
limited partner,
3. SHARON LABORATORIES LTD.,
limited partner.
In practice,
ownership is as follows:
1. SHARON LABORATORIES LTD., 55%, controlled
by Dan Sommerfeld,
2. PURATOS ISRAEL LTD., 45%, a fully owned subsidiary of the PURATOS Concern, of Belgium.
GENERAL MANAGER
Shaul Verkel.
BUSINESS
Manufacturers and
marketers of raw materials, additives and mixtures for the baking field.
Most sales are to
the local market. Small portion of sales are for export.
Amongst clients:
VADASH BAKERY, ANGEL BAKERY, DEGANIT EIN BAR FOOD & BAKERY INDUSTRIES,
DAVIDOWITZ BAKERY, BERMAN BAKERY, etc.
Most of subject’s
sales are foreign.
Amongst local
suppliers: DIZENGOFF TRADING, KARTA, SHARON LABORATORIES, etc.
Operating from
rented premises, owned by SHARON LABORATORIES LTD. (total area of
27,000 sq. meters) in the Ad Halom Industrial Zone, Beer Tuvia Regional
Council, near Ashdod.
Having 70
employees (had 60 in 2006, same as in 2005).
MEANS
Current stock is
valued at NIS 4,000,000.
Other financial
data not forthcoming.
ANNUAL SALES
Sales began in
January 2003.
2003 sales claimed
to be NIS 50,000,000.
2004 sales claimed
to be tens of millions of NIS.
2005 sales claimed
to be NIS 54,000,000.
2006 sales claimed
to be NIS 60,000,000.
OTHER COMPANIES
SHARON
LABORATORIES LTD., manufacturers, marketers and exporters of chemicals for the
citrus branch and cosmetics industries.
SHARON PURATUS
LTD., a holding company.
HANAHTOM
A.M.I.-FOOD INDUSTRIES LTD.
M.S. SAGIV (2000)
FOOD MARKETING LTD.
GAZTOV INDUSTRIES
LTD.
PURATOS ISRAEL LTD., parent company, a holding company,
PACA INDUSTRIES LTD., fully owned by the PURATUS concern, importers,
manufacturers, marketers and exporters of yeast and baking improvers, (e.g.
natural yeast, natural alcohol, molasses, baking mixtures, etc.).
BANKERS
Bank Hapoalim
Ltd., Ashdod Branch (No. 658), Ashdod, account No. 636111.
A check with the
Central Banks' database did not reveal anything detrimental on subject’s a/m
account.
CHARACTER AND
REPUTATION
Nothing
unfavorable learnt.
Subject was established after its 2 shareholders signed an agreement to
establish a joint venture which will operate in the baking field.
The deal was approved by the Commissioner for Trade Restrictions in July
2002.
SUMMARY
Good for trade
engagements.
Maximum unsecured
credit recommended US$ 400,000.
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%)