MIRA INFORM REPORT

 

 

Report Date :

24.12.2008

 

IDENTIFICATION DETAILS

 

Correct Name :

J. O. MIZRACHI EASKAY MAZON LTD.

 

 

Registered Office :

P.O. Box 153, Farm # 91, ZEITAN 71698

 

 

Country :

Israel

 

 

Date of Incorporation :

23.12.1993

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importers and Marketers of Raw Materials for the Food Industry, namely Bakeries

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

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

Small

 

Maximum Credit Limit :

US$ 15,000

 

 

Status :

Small Company

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

                                                                                                 

                                

Name & address

 

J. O. MIZRACHI EASKAY MAZON LTD.

(Also trading as J.O. MIZRAHI or I.A. MIZRAHI)

Telephone                  972 8 929 52 59/ 60

Fax                           972 8 929 55 61

P.O. Box 153

Farm # 91

ZEITAN 71698 ISRAEL

 

 

HISTORY & LEGAL FORMATION

 

A private limited company, incorporated as per file No. 51-190045-8 on the 23.12.1993.

 

Note: The English translation of subject’s name is: “J. O. MIZRACHI FOOD BUSINESSES LTD.”

 

 

SHARE CAPITAL

 

Authorized share capital NIS 22,900.00, divided into -

22,900 ordinary shares of NIS 1.00 each,

of which shares amounting to NIS 200.00 were issued.

 

 

SHAREHOLDERS

 

1.         Jacov Mizrachi, 99.5%,

2.         Mrs. Orly Mizrachi, wife of Jacob, 0.5%.

 

 

SOLE DIRECTOR AND GENERAL MANAGER

 

Jacov Mizrahi.

 

 

BUSINESS

 

Importers and marketers of raw materials for the food industry, namely bakeries.

 

Operating from rented premises (offices and warehouse), on an area of 500 sq. meters, in Farm No. 91, Zeitan village (“Moshav Zeitan”) and from an office at the residence of the shareholders, in 19 Hakukia Street, Rishion Le-Zion.

 

Number of employee not forthcoming.

 

 

MEANS

 

Financial data not forthcoming.

 

There are 4 charges for unlimited amounts registered on the company's assets, in favor of Bank Hapoalim Ltd., Israel Discount Bank Ltd. and a company.

 

 

ANNUAL SALES

 

Sales figures not forthcoming.

 

 

BANKERS

 

Israel Discount Bank Ltd., Ramat Hasharon Branch, (No. 125), Ramat Hasharon.

 

 

CHARACTER AND REPUTATION

 

Nothing unfavorable learned.

 

Subject's General Manager, Mr. Jacob Mizrahi, refused to disclose financial details and number of employees.

 

According to the Foodstuff Industry Union in the Industrialists' Association, 2007 sales of foodstuff, beverages and tobacco rose by 10% from 2006, reaching NIS 50.2 million (after 3% rise from 2005). Some NIS 43 million of sales came from sales of food products.

 

Imports of raw food products to Israel in 2007 summed up to US$ 1,310.4 million, 18.4% increase from 2006. A further rise has been noted during the first half of 2008 - US$ 786 million (6.5% increase comparing to 2007 first half). Over 50% of import is from the EU.

 

 

SUMMARY

 

Notwithstanding the refusal to disclose financial data, considered good for trade engagements.

Maximum unsecured credit recommended US$ 15,000.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.99

UK Pound

1

Rs.72.49

Euro

1

Rs.68.44

 

 

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