MIRA
INFORM REPORT
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Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
AWADA MARBLE AND GRANITE LTD. |
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Registered Office : |
P.O. Box 123, New Industrial Zone, Kfar Kanna16930 |
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Country : |
Israel |
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Date of Incorporation : |
29.08.1999 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Traders, Importers and Marketers of Granite
and Marble Boards, sold to Marble and Stone Processing Plants. |
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$ 35,000. |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name & address
AWADA MARBLE AND GRANITE LTD.
Telephone 972 4 641 90 75 / 4
Fax 972 4 641 90 73
P.O. Box 123
New Industrial Zone
KFAR KANNA 16930 ISRAEL
HISTORY AND LEGAL FORMATION
A private limited company, incorporated as per file No. 51-282273-5 on the
29.8.1999.
SHARE
CAPITAL
Authorized share capital NIS 28,000.00, divided into -
28,000 ordinary shares of NIS 1.00 each,
of which shares amounting to NIS 100.00 were
issued.
SHAREHOLDERS
1. Nasser Awada, 98%,
2. Mrs. Zakhia Awada, 2%.
SOLE
DIRECTOR
Haled Awada
GENERAL
MANAGER
Nasser Awada
BUSINESS
Subject operates in two lines of activities:
1.
Traders, importers and marketers of granite and
marble boards, sold to marble and stone processing plants.
2.
(As of the beginning of 2007) importers and
marketers of domestic furniture, sold for the retail branch and for private
customers.
3.
Operating a furniture retail store.
Having some 400 customers in the marble/ stone field.
Among main clients: SAFURI MARBLE, KHASHIBUN MARBLE, HAGALIL MARBLE, etc.
All purchasing is from import.
Sole local agents of several foreign manufactures and suppliers, main one
being:
MARMOL COMPAC, of Spain.
Operating from premises (offices and warehouses, owned by the
shareholders), on an area of 4,000 sq. meters, in New Industrial Zone, Kfar
Kanna, an Arab town in the
Galilee region of Israel.
Having 7 employees (same as in 2007).
MEANS
Current stock is valued at NIS 1,250,000,
comprising:
NIS 1,000,000 – marble and stone.
NIS 250,000 – furniture.
Property in Kfar Kanna, New Industrial Zone
where subject is operating from (owned by the shareholders) is valued at over
US$ 1,000,000.
There are 5 charges
for unlimited amounts registered on the company’s assets, in favor of Mercantile
Discount Bank Ltd., Bank Leumi LeIsrael Ltd. and an automobile agency company.
ANNUAL
SALES
2005 sales claimed to be NIS 5,500,000.
2006 sales claimed to be NIS 5,500,000.
2007 sales claimed to be NIS 6,500,000.
BANKERS
Mercantile
Discount Bank Ltd., Kfar Kanna Branch (No. 665), Kfar Kanna,
account No. 479500.
A check with the Central Banks' database did not reveal any negative
information regarding subject's a/m account.
CHARACTER
AND REPUTATION
Nothing unfavorable learned.
SUMMARY
Good for trade engagements.
Maximum unsecured credit recommended US$ 35,000.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.23 |
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UK Pound |
1 |
Rs.80.89 |
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Euro |
1 |
Rs.63.80 |
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%)