MIRA
INFORM REPORT
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Report Date : |
14.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
SICAMEX LTD. |
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Registered Office : |
P.O. Box 9287 Kiryat Bialik (42920), 27 Gesher Ha'etz Street,
Industrial Zone Emek Hefer 38800, |
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Country : |
Israel |
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Financials (as on) : |
2007 |
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Date of Incorporation : |
27.06.2007 |
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Com. Reg. No.: |
51-399790-8 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturers and marketers of pesticides |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New and Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
SICAMEX LTD.
P.O. Box 9287 Kiryat Bialik (42920)
27 Gesher Ha'etz Street
Industrial Zone
Emek Hefer 38800
Israel
Telephone 972 4 622 00 13
Fax 972 4 622 07
13
HISTORY
A private limited company, incorporated as per file No. 51-399790-8 on the
27.06.2007.
SHARE CAPITAL
Authorized share capital NIS 39,100.00, divided into - 39,100 ordinary
shares of NIS 1.00 each, of which shares amounting to NIS 100.00 were issued.
SHAREHOLDERS
Subject is fully owned by Avner Malka.
SOLE DIRECTOR & GENERAL
MANAGER
Avner Malka, born 1962.
BUSINESS
Manufacturers and marketers of pesticides.
Amongst clients: HAGARIN, AMIR MARKETING AND INVESTMENTS IN AGRICULTURE,
etc.
30% of purchases are imports, 70% are purchased locally.
Imports of raw materials for production are mainly from India and China.
Among local suppliers: GADOT CHEMICALS, PAZ OILS & LUBRICANTS, etc.
Operating from rented offices, in 27 Gesher Ha'etz Street, Industrial
Zone, Emek Hefer, and from a plant, on an area of 600 sq. meters, rented, in 34
Hacharoshet Street, Industrial Zone, Kiryat Bialik.
Having 4 employees.
MEANS
Current stock is valued at NIS 80,000.
Other financial data not forthcoming.
There are no charges registered on the company's assets.
ANNUAL SALES
Subject begun sales in July 2007.
July - December 2007 sales claimed to be NIS 600,000.
January 2008 sales claimed to be NIS 80,000.
BANKERS
Bank Otsar Hahayal Ltd., M.T.M Omega Branch (No. 350), Tirat Carmel,
account No. 103313.
A check with the Central Banks' database did not reveal anything
detrimental on subject’s a/m account.
CHARACTER AND
REPUTATION
Nothing unfavorable learned.
Subject is a newly established company.
Prior to establishing subject, owner Avner Malka served in the Army
(Israel Defense Force) and retired over a year ago as a Lieutenant Colonel. In
his last position, he was the commander of a supply base.
SUMMARY
Good for trade engagements.
However, being a newly established company, too early to determine a
definite credit opinion (also please note that turnover is relatively low, as
they recently begun operations, though subject's official said they are in a
growth trend).
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%)