MIRA
INFORM REPORT
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Report Date : |
09.05.2007 |
IDENTIFICATION DETAILS
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Name : |
ITZHAK
SHINITZKY LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
17.11.1957 |
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Com. Reg. No.: |
51-017306-5 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Importers and wholesale
dealers, handling equipment and machinery for the agriculture and industry. |
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$
100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name & Address
ITZHAK SHINITZKY LTD.
Telephone 972 3 562 47 47
Fax 972 3 562 33 85
TEL AVIV 67897ISRAEL
HISTORY
A private limited company,
incorporated as per file No. 51-017306-5 on the 17.11.1957, continuing
activities established several years earlier by the late Itzhak Shinitzky.
SHARE CAPITAL
Authorized share capital
2,501,900 ordinary shares, all of
SHAREHOLDERS
1. Ms. Rivka Shinitzky, holding
53.7% of ordinary shares and 80% of founder shares issued,
2. Igal Siniaver, holding 25.3%
of ordinary shares and 5% of founder shares issued,
3. Ms. Shlomit Siniaver (wife of
Igal), holding 21% of ordinary shares and 15% of founder shares issued.
DIRECTORS
1. Igal Siniaver, General Manager,
2. Ms. Rivka Shinitzky,
3. Ms. Shlomit Siniaver.
BUSINESS
Importers and wholesale dealers,
handling equipment and machinery for the agriculture and industry, e.g. engines
and motors, power transmission, bearings, speed reducers and mechanical
variators, etc.
Among clients: ORMAT INDS., SHEVAH BLOWERS,
HAIFA CHEMICALS, BROMINE COMPOUNDS, DEAD SEA WORKS, SOLBAR HATZOR, ECHTMAN
ENGINEERING CORP., I.D.E. TECHNOLOGIES, etc.
99% of purchases are from import.
Sole local agents of (among
others):
HOWARD, of
BROOK CROMPTON, of
FALK, of the
N.T.N., of
VARVEL, A.E.G. both of
Operating from premises on an
area of 2,500 sq. meters owned by some of the shareholders, in
Having 15 employees.
MEANS
Financial data not forthcoming.
Premises in Tel Aviv (where subject
operates from, owned by the shareholders)
are valued at US$ 2,500,000.
There are no charges registered
on the company's assets.
ANNUAL SALES
2005 sales claimed to be US$
3,500,000.
Projected 2006 sales US$
3,500,000.
BANKERS
Mercantile Discount Bank Ltd.,
Givatayim Branch (No. 666), Givatayim, account No. 28630.
A check with the Central Banks' database did not
reveal anything detrimental on subject’s a/m account.
CHARACTER AND REPUTATION
Nothing unfavorable learned.
Subject's officials refused to disclose financial data
besides sales figures.
Subject is very long established.
SUMMARY
Good for trade engagements.
Maximum unsecured credit recommended US$ 100,000.
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%)