MIRA
INFORM REPORT
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Report Date : |
25.09.2007 |
IDENTIFICATION DETAILS
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Name : |
POLYPACH BEIT
SHEMESH ENTERPRISES (1991) LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
9.6.1991 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers, processors (rolling) and marketers
of steel. |
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$ 1,400,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
POLYPACH BEIT SHEMESH ENTERPRISES (1991) LTD.
Western Industrial Zone
BEIT SHEMESH 99000
Telephone 972
2 991 56 16
Fax 972
2 991 21 11; 992 88 88
HISTORY
A private limited company, incorporated as per
file No. 51-157734-8 on the 9.6.1991.
SHARE CAPITAL
Authorized share capital
SHAREHOLDERS
1. POLYPACH BEIT SHEMESH LTD., owned by Eli Alon
and his brother David Alon,
2. Eli Alon, holding 1 single share.
DIRECTORS
1. Yoram Alon, General Manager,
2. Eli Alon, a machinery engineer,
3. Simha Alon,
4. Eitan Alon,
5. Gal Alon,
6. Ms. Maya Alon.
BUSINESS
Importers, processors (rolling) and marketers of
steel.
Also manufacturers and marketers of isolating
panels, gypsum profiles and steel allied products.
Among clients: ZABAR BARZEL METAL MARKETING
& SUPPLY, NIRAV METALS, SHAHAM BROS., etc.
Most purchasing is from import.
Among local suppliers: M.S. ELECTRONICS (for
electrical systems), etc.
Operating from premises (offices, plant, and storage
facilities), owned by the shareholders, on a built area of 20,000 sq. meters,
on a plot of 30,000 sq meters, in the Western Industrial Zone, Beit Shemesh.
Having 100 employees in the Group (same as in
2006).
MEANS
Stock is valued at
Other and later financial data not forthcoming.
Property in Beit Shemesh (where subject
operates from, owned by the Alon family) are valued at US$
15,000,000.
There are 12 charges for unlimited amounts
registered on the company's assets, in favor of Bank Leumi LeIsrael Ltd. and
Bank Hapoalim Ltd.
ANNUAL SALES
2000 consolidated sales claimed to be
2001 consolidated sales claimed to be
2002 consolidated sales claimed to be
2003 consolidated sales claimed to be
2004 sales figures not forthcoming.
2005 consolidated sales claimed to be
2006 consolidated sales claimed to be
Consolidated sales for the first 8 months of
2007 claim to be
OTHER COMPANIES
POLYPACH BEIT SHEMESH LTD., a holding company,
established 1982.
BANKERS
Bank Leumi LeIsrael Ltd., Main Branch (No. 901),
A check with the Central Banks’ database did not
reveal any negative information regarding subject’s a/m account.
Bank Hapoalim Ltd., Beit Shemesh Branch (No.
692), Beit Shemesh.
CHARACTER AND REPUTATION
Nothing unfavorable learned.
This is a veteran family business.
Subject enjoys good reputation in its field.
The local building, construction and metal sectors has been slowly
recuperating from the recession during recent years (2001-2003) in the local
market in general and in those sectors in particular, from which many companies
have been adversely affected by. The local economy has been constantly growing
since 2004, although the local construction sector has been recovering in a
slower pace.
In 2005 and 2006 most indicators in the building and infrastructure
sectors have shown improvements.
Metal prices in
According to the Chairman of the Metal and Electricity
sectors at the Manufacturers’ Association, overall sales of the various metal
related sectors in 2006 increased by 6% in real terms from 2005, reaching NIS
70.7 billion (after a 13% rise in 2005 comparing to 2004).
Sales to the local market increased by 6.5% form 2005,
summing up to
Sales for export
grew by 5% in 2006, reaching US$ 5.81 billion (metal sector accounted for US$
1.75 billion).
Investment in machinery and equipment rose by 15%
comparing to 2005, summing up at
The Metal and Electricity sectors forecasted sales in
2007 expected to grow further by 5.5% to NIS 75 billion, representing a growing
trend the 4th year in a raw.
SUMMARY
Good for trade engagements.
Maximum unsecured credit recommended US$
1,400,000.
NOTE
Subject's correct postal box number (No. 49 is
not relevant).
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%)