MIRA
INFORM REPORT
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Report Date : |
29.05.2007 |
IDENTIFICATION DETAILS
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Name : |
MOR (K.B.)
INTERNATIONAL LTD. |
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Registered Office : |
Tel Mond 40600 |
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Country : |
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Date of Incorporation : |
22.6.1998 |
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Com. Reg. No.: |
51-264804-9 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Exporters of fresh
agricultural produce, namely fruits and vegetables. |
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 |
Correct Name & address
MOR (K.B.)
TEL MOND 40600
Telephone 972 9 777 66 01
Fax 972 9 777 66 06
HISTORY
A private limited
company, incorporated as per file No. 51-264804-9 on the 22.6.1998.
SHARE CAPITAL
Authorized share capital
SHAREHOLDERS
1. MILEK HOLDINGS
& INVESTMENTS LTD., 65%, owned by Yair Kaplan,
2. M. M.B.A.
HOLDINGS & INVESTMENTS LTD., 35%, owned by Meir Ben-Artzi.
DIRECTORS AND JOINT
GENERAL MANAGERS
1. Yair Kaplan,
2. Meir Ben-Artzi.
BUSINESS
Exporters of fresh
agricultural produce, namely fruits and vegetables.
20% of the exports are
from products grown by subject's Group, 80% are from other growers.
50% of export is to
Among European
clients:
D.F.M.,
UNIVEG,
UTOPIA M.W.V., of the
Among local suppliers:
I.M.A. - Packaging
products;
ZIM NAVIGATION -
Shipping company.
Operating from
premises, owned by the shareholders, situated within the area of the Group's
field crops, which are spread over on an area of
Having 6 employees
in subject and hundreds employees serving the whole Group.
MEANS
Financial data not
forthcoming.
There are no charges
registered on the company’s assets.
ANNUAL SALES
2005 sales claimed to
be
2006 sales claimed to
be
Forecasted 2007 sales
OTHER COMPANIES
There are many
companies in the MOR Group (controlled by subject's shareholders), among them:
MOR HASHARON FRUITS
LTD., operating a packing house.
KOAH MATA'IM LTD.,
agricultural crops.
KAPLAN ZOHAR KAPLAN
MATA'IM LTD.
BANKERS
Bank Leumi LeIsrael Ltd.,
Ra'anana - Kfar Saba Business Branch (No. 744), Ra'anana.
The First
International Bank of Israel Ltd., Hod Hasharon Branch (No. 037), Hod Hasharon.
CHARACTER AND REPUTATION
Nothing unfavorable
learned.
Subject’s officials
refused to disclose financial details, besides sales figures.
The MOR Group is a
veteran and one of the largest private groups in the agricultural sector.
Yair Kaplan
specializes in the growing of the persimmon fruit is considered the largest
exporter of persimmon in
The local
agriculture sector has witnessed an improvement in recent couple of years after
several years of slow-down.
According to the
Citrus Growers estimations 2006/7 harvest season will sum up to 160,000 tons of
fruits, a 15% increase comparing to the 2005/6 season, and total NIS 1 billion
in money terms (mostly for export). In 2006 8,000,000 sq. meters of citrus were
planned to be planted, and in 2007 they are expecting to plant further
12,000,000 sq. meters.
According to the
Bureau of Statistics data,
Export in 2006,
though, remained stagnant: in quantity aspect produce fell by 0.1% after 11.2%
increase in 2005; the value of agriculture export reached US$ 1.035 billion.
In 2005 agricultural
output amounted to
There are 21,100
independent farmers in
SUMMARY
Good for US$ 300,000.
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%)