MIRA
INFORM REPORT
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Report Date : |
23.10.2007 |
IDENTIFICATION DETAILS
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Name : |
ELCON - MAMAB CONTROL INSTRUMENTS LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1960 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturers,
importers and marketers of control and measurement instruments and accessories,
sensors (temperature, pressure, humidity) and valves, for the industry and
research laboratories. |
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$ 50,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
ELCON - MAMAB
CONTROL INSTRUMENTS LTD.
8 Nahal Snir
Street
Northern
Industrial Zone
YAVNE 81224
Telephone 972 8 943 36 31
Fax 972 8 943 36 33
HISTORY
Originally established
as a non-registered business under the name TERMO-HOM in 1960, by the Late
Moshe Brandwin.
Converted into a
private limited company and registered as such as per file No. 51-101995-2 on
the 26.3.1984.
Originally
established under the name of M.M.B. MEASURING INSTRUMENTS (NESS ZIONA) LTD.,
which changed to M.M.B. CONTROL & MEASURING INSTRUMENTS LTD. on the
4.1.1996, which changed to the present name on the 31.10.2000.
SHARE CAPITAL
Authorized share
capital
SHAREHOLDERS
Subject is fully
owned by Ms. Bilha Brandwin (widow of the late Moshe Brandwin).
SOLE DIRECTOR
Ms. Bilha Brandwin
GENERAL MANAGER
Gideon Brandwin
BUSINESS
Manufacturers,
importers and marketers of control and measurement instruments and accessories,
sensors (temperature, pressure, humidity) and valves, for the industry and
research laboratories.
60% of activity is
from manufacturing and 40% from import.
Amongst subject’s
clients: DEAD SEA WORKS, TARA DAIRIES, TNUVA, OIL REFINERIES, CARMEL OLEFINS,
ORMAT INDUSTRIES, TEVA PHARMACEUTICALS, THE ISRAEL ELECTRIC CO., WEIZMANN
INSTITUTE, THE BIOLOGIC RESEARCH INSTITUTE, etc.
Amongst subject’s
local suppliers: I.B.T., TECHNO-BAR, SCOPE METAL TRADING.
Sole local
representative of:
DISIBEINT, DESIN,
FILSA, all of
P.I.C., of
CAB, of
LAB FACILITY,
HYCONTROL, both of the
PIXSYS, SCANDURA,
both of
KIMO, of
NEW-FLOW, of
RIXEN, of
BADOTHERM, of
BOURDON-HAENNI –
BAUMER PROCESS, of
REOTEMP, CALEX,
TEWIRE, all of the
Operating from rented
premises (offices and warehouse), on an area of 700 sq. meters in
Having 20
employees.
MEANS
Current stock is valued at
Consolidated B/S shows:
31.12.2005 31.12.2006
ASSETS
Current Assets
Cash and cash equivalents 375,573 112,456
Customers 2,110,046 2,739,870
Other debtors 39,276 23,378
Stock 753,500 1,077,500
Pre-paid expenses ___26,284 ___18,568
3,304,679 3,971,772
Fixed Assets __647,587 __682,179
3,952,266 4,653,951
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LIABILITIES
Current
liabilities
Banks 15,965 158,652
Short-term liabilities 841,848 764,765
Checks payable 259,804 315,173
Suppliers 737,128 836,747
Advanced payments 511 734
Other creditors __282,914 __359,444
2,138,170 2,435,515
Long-term
liabilities 1,028,688 1,044,230
Equity __785,408 1,174,206
3,952,266 4,653,951
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There are no
charges registered on the company’s assets.
ANNUAL SALES
Statement
of Income
Year
ended 31.12
2005 2006
Sales 6,942,179 7,802,535
Gross profit 1,761,446 2,313,189
Operating profit 529,480 687,445
Profit before tax on income 470,019 549,398
Net income 326,019 388,798
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First 9 months of 2007 sales claim to be
BANKERS
Bank Leumi
LeIsrael Ltd., Ness Ziona Branch (No. 933), Ness Ziona, account No. 058500/59.
Bank Hapoalim Ltd., Ness Ziona Branch (No. 636), Ness Ziona, account No.
655075.
A check with the Central Banks' database did not reveal any negative information
regarding subject's a/m accounts.
CHARACTER AND
REPUTATION
Nothing
unfavorable learned.
Subject is long
established.
Subject is ISO
9001:2000 certified.
SUMMARY
Good for trade
engagements.
Maximum unsecured credit recommended US$ 50,000.
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%)