MIRA
INFORM REPORT
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Report Date : |
04.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
ECOSWEET LTD. |
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Registered Office : |
P.O. Box 5 (48100), 23 Hameretz Street, Industrial Zone, ROSH HA’AYIN
48017 |
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Country : |
Israel |
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Date of Incorporation : |
21.09.2008. |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and Marketers of Raw Materials for Artificial Sweeteners |
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$ 100,000. |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Correct Name address
ECOSWEET LTD.
Telephone 972 3 938 22 82
Fax 972 3 938 20 17
P.O. Box 5 (48100)
23 Hameretz Street
Industrial Zone
ROSH HA’AYIN 48017
ISRAEL
HISTORY & LEGAL FORMATION
A private limited
company, incorporated as per file No. 51-1418739-2 on the 21.09.2008.
SHARE CAPITAL
Authorized share
capital NIS 50,000.00, divided into -
5,000,000 ordinary
shares of NIS 0.01 each, of which shares amounting to NIS 1.00 were issued.
SHAREHOLDERS
Company is fully
owned by Lior Levy.
SOLE DIRECTOR AND GENERAL MANAGER
Lior Levy, born
1965.
BUSINESS
Importers and marketers of raw materials for artificial sweeteners.
Among local clients: TEMPO BEVERAGES, STRAUSS GROUP, BISCOL
(affiliate) and others.
All of purchasing is imported.
Operating from
Group’s owned premises (which includes plant, offices and warehouses), on an
area of 3,000 sq. meters, in 23 Hameretz Street, Industrial Zone, Rosh Ha’ayin.
Having 1 employee.
There are 80
employees serving the BISCOL Group (including subject, BISCOL, BISCOL MARKETING and SUCRAZIT).
MEANS
Current stock is
valued at NIS 2,000,000.
Group’s owned
property in Rosh Ha'ayin is valued at US$ 2,000,000.
There are no charges registered on the company's assets.
ANNUAL SALES
Sales initiated in
November 2008.
BISCOL Group
annual sales are over NIS 40,000,000.
OTHER COMPANIES
Sister companies owned by the Levy family:
BISCOL LTD., manufacturers, exporters, marketers and
wholesalers of cosmetics and diabetic products: artificial sweeteners (leading brand: "Sucrazit"), synthetic food
additives for meat, baking and dairy industries, toilet preparations, body
lotions hair care products, vitamins, etc.
BISCOL MARKETING & SALES 2002 LTD.,
marketing locally BISCOL’s cosmetic products, operating from same premises as
subject.
SUCRAZIT LTD., marketing locally BISCOL’s
manufactured sweeteners, operating from same premises as subject.
DAOR COSMETICS LTD., 50% owned by BISCOL,
manufactures and exporters of cosmetics products.
CROSSWATER LTD.
BANKERS
The First
International Bank of Israel Ltd., Afek Branch (No. 036), Rosh Ha'ayin.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
BISCOL Group is a very long established family business, with well-known
brands locally, mainly "Sucrazit" sweetener brand.
SUMMARY
Good trade engagements.
Maximum unsecured
credit recommended US$ 100,000.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.76 |
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UK Pound |
1 |
Rs.73.37 |
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Euro |
1 |
Rs.63.08 |
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%)