MIRA INFORM REPORT

 

 

Report Date :

25.09.2007

 

IDENTIFICATION DETAILS

 

Name :

GHANTOS "SHOES" COMPANY LTD.

 

 

Registered Office :

P.O. Box 6633, Christians Neighborhood, Sackhnin 20173

 

 

Country :

Israel

 

 

Date of Incorporation :

12.11.1998

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Shoes dealers.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Small Company

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

name

 

GHANTOS "SHOES" COMPANY LTD.

 

 

Registered Address

 

P.O. Box 6633

Christians Neighborhood

SACKHNIN 20173 ISRAEL

Cellular  972 54 462 0761

Fax        972 4 674 01 85

 

 

HISTORY

 

A private limited company, incorporated as per file No. 51-269859-8 on the 12.11.1998.

 

Based on our checks, we strongly believe that in practice subject is non active.

 

Note: According to the registered of companies, subject status is registered as "Active".

 

 

SHARE CAPITAL

 

Authorized share capital NIS 23,800.00, divided into – 23,800 ordinary shares of NIS 1.00 each, of which shares amounting to NIS 100.00 were issued.

 

 

SHAREHOLDERS

 

1.     Hana Ghantos, 99%,

2.     Ghantos Ghantos, 1%.

 

 

SOLE DIRECTOR

 

Ghantos Ghantos

 

 

GENERAL MANAGER

 

Hana Ghantos

 

 

 

 

 

BUSINESS

 

Shoes dealers.

 

We reached Mr. Hana Ghantos, owner and General Manager of subject on his cellular (972-54-462 0761).

 

He informed us that subject is in bankruptcy process due to financial difficulties.

 

Mr. Ghantos refused to add details and whether he still activates subject.

 

Our checks indicate that subject per se is probably not-active (there may be activities and sales by other affiliated legal entities). According to the data gathered, subject used to operate as vendor of shoes, including retail, as well as import and marketing.

 

The business has been operating from Sackhnin, an Arab populated city in the North of Israel (as in may Arab populated towns and villages, street names and numbers are often not determined).

 

According to the local Trade Directories, subject's listed telephone number is 972-4-674 43 55. This number has been disconnected. The fax number listed (972-4-674 01 85 as on caption) works. We sent a fax to that number but received no reply.

 

We reached Mr. Hana Ghantos' cellular number only through one of his relatives that we traced.

 

According to the Telephone directory, there are no telephones listed under subject's name.

 

There are 2 charges for unlimited amounts registered on the company’s assets, in favor of Mercantile Discount Bank Ltd. The charges include a floating charge on all of subject's assets, a fixed charge on subject's share capital and goodwill, as well as a charge on a vehicle (both charges were created in mid 2006).

 

Subject has accumulative debts to the Registrar of Companies (fees) of NIS 6,260.00, since 2003.

 

We did not find any other detrimental data on subject or Mr. Hana Ghantos in our databases or in media reports.

 

 

SUMMARY

 

In view of the above said, dealings -if any- are recommended on cash in advance basis only.

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions