MIRA
INFORM REPORT
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Report Date : |
01.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
EL ZAN IMPORT PACKAGING AND MARKETING CO. LTD. |
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Registered Office : |
P.O. Box 393 (60252) 8 Hacharoshet Street
Industrial Zone B' OR Yehuda 60375 |
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Country : |
Israel |
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Date of Incorporation : |
1.8.1966 |
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Legal Form : |
private limited company |
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Line of Business : |
Importers, Marketers and Packers of Foodstuff
Commodities |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address of the company
EL ZAN IMPORT PACKAGING AND MARKETING CO. LTD.
(Also known as: “ELZAN LTD.”)
Telephone 972 3 533 44 66
Fax 972 3 533 93 72
P.O. Box 393 (60252)
8 Hacharoshet Street
Industrial Zone B'
OR YEHUDA60375 ISRAEL
HISTORY
A private limited company, incorporated as per file No. 51-047463-8 on the
1.8.1966.
SHARE
CAPITAL
Authorized share capital NIS 10.00, divided into -100,000 ordinary shares
of NIS 0.0001 each, of which shares amounting to NIS 4.00 were issued.
SHAREHOLDERS
1. Moshe Ouzan, 99.99%,
2. Mrs. Bella Ouzan, wife of
Moshe, 0.01%.
SOLE
DIRECTOR AND GENERAL MANAGER
Moshe Ouzan.
BUSINESS
Importers, marketers and packers of foodstuff commodities (tea, coffee, sugar
and sugar substitutes, baking powders, etc.).
Among clients: HANAMAL PACKAGING, SUGAT FOOD, EL AL AIRLINES, Ministry of
Defense, etc.
20% of purchases are imports, the rest is purchased locally.
Among local suppliers: GALILEE HERBS, ISRAEL SALT CO., ORDA PRINT, SUGAT
FOOD, ELITE FOODS, GALAM, ARIZ DISTRIBUTION OF PACKAGING MATERIALS, S.N.
PACKAGING, etc.
Operating from premises, owned by the shareholders, on an area of 2,000 sq.
meters in 8 Hacharoshet Street, Industrial Zone B', Or Yehuda.
Having 50 employees (same as in previous years).
MEANS
Current stock is valued at NIS 2,000,000 (same as in previous years).
Property owned by the shareholders in Industrial Zone, Or Yehuda (from where
subject is operating from) is valued at US$ 2,000,000.
There are 14 charges for unlimited amounts
registered on the company's assets, in favor of Israel Discount Bank Ltd., Bank Otsar Hahayal Ltd. and KUPAT ALIYA LTD.
ANNUAL
SALES
2001 sales claimed to be NIS 13,000,000.
2002 sales claimed to be NIS 13,000,000.
2003 sales claimed to be NIS 14,000,000.
2004 sales claimed to be NIS 15,000,000.
2005 sales claimed to be NIS 16,000,000.
2006 sales claimed to be NIS 16,000,000.
2007 sales claimed to be NIS 16,000,000.
BANKERS
Bank Hapoalim Ltd., Amishav Branch (No. 684), Givatayim.
Bank Otsar Hahayal Ltd., Tel Hashomer Branch (No. 372), Ramat Gan.
Israel Discount
Bank Ltd., Rishon Le-Zion Branch (No. 055), Rishon Le-Zion.
CHARACTER
AND REPUTATION
In January 2002, it was reported that LIPTON TEA filed a NIS 300,000
lawsuit against subject and another company, claiming they are marketing tea in
packages similar to those of LIPTON.
Apart from that, nothing unfavorable learned.
Subject is a long established business, well familiar in its field.
Subject is ISO 9002 certified.
The local tea market was estimated at NIS 230 million per year couple of
years ago.
According to the Foodstuff Industry Union in the Industrialists' Association,
2006 sales of foodstuff by the food industry rose by 2.9% from 2005, reaching
NIS 45.5 million. Sales for exports of the foodstuff branch in 2006 were US$
686 million, 4.1% increase from 2005, while sales to the local market rose by
2.1%.
Investments in machinery and equipment in 2006 reached NIS 860 million,
similar to 2005.
Imports of foodstuff to Israel in 2006 were US$ 1.18 billion, 13.4%
increase from 2005.
SUMMARY
Good for trade engagements.
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%)