MIRA
INFORM REPORT
|
Report Date : |
01.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
OMNI AGRICULTURE LTD |
|
|
|
|
Registered Office : |
6/15, baRUCH Boaron Street, Hadera 38303 |
|
|
|
|
Country : |
Israel |
|
|
|
|
Date of Incorporation : |
2005 |
|
|
|
|
Com. Reg. No.: |
51-376009-0 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Supplier of ginegar plastic products, Haifa chemicals, makhteshim chemical
works, naan dan irrigation, plastron irrigation systems etc. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
Company Name and
Address
OMNI AGRICULTURE LTD.
Telephone 972 4 622 13 50;
622 13 55
Fax 972 4 622 13 52
6/15 Baruch Boaron
Street
HADERA 38303, ISRAEL
HISTORY
Originally
founded in 2003 and operated as a division in AZ-ROM METAL
INDUSTRIES LTD., a private limited company established in 1975.
During 2005,
following the passing away of AZ-ROM's founder, the late Itzhak Cohen, father
of Moshe Cohen (shareholder in subject), converted into a private limited
company and registered as such as per file No. 51-376009-0 on the 13.12.2005,
assuming all the business activities of the division.
SHARE CAPITAL
Authorized share
capital NIS 23,000.00, divided into -23,000 ordinary shares of NIS 1.00 each,
of which shares amounting to NIS 20.00 were issued.
SHAREHOLDERS
1. Ofir Freund, 50%,
2. M. COHEN METAL INDUSTRIES LTD., 50%, owned
by Moshe Cohen.
DIRECTORS
1. Ofir Freund -
General Manager,
2. Moshe Cohen.
BUSINESS
Operating in 2
line of business:
1. Sale of inputs for agriculture in Africa.
2. Executing projects in the
agricultural field in Africa, mainly installing greenhouses in Ethiopia.
All operations
are abroad and all sales are for export.
Among local
suppliers: GINEGAR PLASTIC PRODUCTS, HAIFA CHEMICALS, MAKHTESHIM CHEMICAL
WORKS, NAAN DAN IRRIGATION, PLASTRO IRRIGATION SYSTEMS, etc.
Operating from
rented office premises, on an area of 120 sq. meters in 6/15 Baruch Boaron
Street, Hadera and through subsidiary premises on a total area of 600 sq.
meters in Ethiopia (rented).
Having in all 78
employees, serving subject and subsidiary, of which 8 are in Israel (subject), the
rest are mainly in Ethiopia.
MEANS
Consolidated
(subject and subsidiary) stocks were valued at US$ 3,000,000 at the end of
2006.
Subject does not
hold stocks, work is based on orders.
There are 4
charges for unlimited amounts registered on the company’s assets, in favor of
Bank Leumi LeIsrael Ltd.
ANNUAL SALES
2005 sales (as a
division of AZ-Rom) claimed to be US$ 24,000,000, all for export.
2006 sales
claimed to be US$ 18,000,000, all for export.
2007 sales
claimed to be US$ 18,000,000, all for export.
OTHER COMPANIES
AXUM GREENLINE
TRADING, 100%, Ethiopia.
AZ-ROM METAL INDUSTRIES LTD., owned by the Cohen family, a metal plant, specializing in manufacturing, assembling and marketing of
greenhouses.
BANKERS
Bank Leumi LeIsrael
Ltd., Rehovot Business Branch (No. 978), Rehovot.
CHARACTER AND
REPUTATION
Nothing unfavorable learned.
SUMMARY
Good for trade
engagements.
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%)