MIRA
INFORM REPORT
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Report Date : |
20.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
PROTEC SACKS INDUSTRIES LTD. |
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Registered Office : |
Farm No. 75, Hof Ashkelon, Mavki'im 79125 |
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Country : |
Israel |
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Date of Incorporation : |
10.4.2006 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of bags and sacks made of polypropylene. |
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$ 15,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Correct Name
PROTEC SACKS INDUSTRIES LTD.
Also trading under the name style PROTEC LTD.
address
Farm No. 75
Hof Ashkelon
MAVKI'IM 79125 ISRAEL
Telephone 972 8 671 85 66
Fax 972 8 671 85 77
HISTORY
A private limited company, incorporated as per file No. 51-382095-1 on the 10.4.2006.
SHARE CAPITAL
Authorized share capital NIS 38,100.00, divided into - 38,100 ordinary shares of NIS 1.00 each, of which shares amounting to NIS 100.00 were issued.
SHAREHOLDERS
1. Shlomo Kadosh, 34%,
2. Israel Hemo, 33%,
3. Reuven Yaacov, 33%.
SOLE DIRECTOR
Shlomo Kadosh
GENERAL MANAGER
Shimon Hemo
BUSINESS
Importers and marketers of bags and sacks made of polypropylene.
Among local clients: SHARABI BROS., YEHI HARSIYOT, ISRAEL FLOUR MILLS, RE'EM (Gedera), HARUSH BUILDING MATERIALS, etc.
All purchasing is from import.
Operating from rented premises, on an area of 700 sq. meters, in Meshek 75 (Meshek is Farm in Hebrew), Moshav Mavki'im, Hof Ashkelon (a village near Ashkelon in the Southern coast of the country).
Having 4 employees.
MEANS
Current stock is valued at NIS 350,000.
Other financial data not forthcoming.
There are no charges registered on the company's assets.
ANNUAL SALES
Sales started in mid 2006.
July – December 2006 sales were NIS 1,200,000.
First 10 months of 2007 sales claim to be NIS 2,000,000.
BANKERS
Mizrahi Tefahot Bank Ltd., Tel Aviv Main Business Center Branch (No. 461), Tel Aviv, account No, 140234.
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 owners all have previous experience in the field.
SUMMARY
Good for trade engagements.
Maximum unsecured credit recommended US$ 15,000.
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. |
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%)