MIRA
INFORM REPORT
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Report Date : |
17.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
FINE METAL TRADE LTD. |
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Registered Office : |
P.O. Box 17565 (61175) 25 Pinchas Rosen Street
Tel Aviv 69512 |
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Country : |
Israel |
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Date of Incorporation : |
14.04.2003 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Agencies in the Metals Filed |
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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Maximum Credit Limit : |
US$ 80,000. |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name and address of the company
FINE METAL TRADE LTD.
Telephone 972 3 644 38 03
Fax 972
3 642 13 52
P.O. Box 17565 (61175)
25 Pinchas Rosen Street
TEL AVIV 69512
SRAEL
HISTORY
A private limited company, incorporated as per file No. 51-340194-3 on
the 14.4.2003, under the name BEN AVINOAM LTD., which changed to the present
name on 24.8.2005
SHARE
CAPITAL
Authorized share capital NIS 50,000.00, divided into -50,000 ordinary
shares of NIS 1.00 each,,of which shares amounting to NIS 100.00 were issued.
SHAREHOLDERS
Subject is fully owned by Lidor Birenzwaig.
SOLE
DIRECTOR AND GENERAL MANAGER
Lidor Birenzwaig, degree in Business Management
& Economics with an MA in Business Administration and Economics.
BUSINESS
Agencies in the metals field (sales on commission basis). Also importers
and marketers of metals. Most sales are on commission basis. Also exporters of
metal items acquired in Israel, in small volume (e.g. teeth drills).
Among subjects clientele:
DEUTSCH DAGAN,
PLASEL, E.T.M. PERCISION TOOL MANUFACTURING, ISRAEL AEROSPACE
INDUSTRIES, TECHNO-BAR and more
Sole local agent of (main ones):
RODACCIAI – of Italy,
LOCUM FINE STEELS LIMITED – of England.
Among local suppliers: HOD METAL, S. COHEN METAL WORKS, I.P.T METAL
PRODUCTS, YOTAM FISHER STEEL TRADE, NIR GAL (teeth drills), etc.
Operating from rented premises, on an area of 100 sq. meters, in 25
Pinchas Rosen, Tel Aviv.
Having 2 employees, including Mr. Birenzwaig.
MEANS
Subject holds no stock, imports according to orders.
There are no charges registered on the company assets.
ANUAL
SALES
2004 sales from stock and on a commission basis claimed to be US$
1,200,000, of which 2.5% were exports.
2005 sales from stock and on a commission basis claimed to be US$
2,500,000 of which 36% were exports.
2006 sales from stock and on a commissions basis claimed to be US$
3,800,000 (export was negligible). 70% of sales were on commission basis and
30% of sales from stock.
2007 sales from stock claimed to be US$ 1,700,000 (US$ 40,000 were for
export) and sales on a commissions basis claimed to be US$ 2,800,000.
BANKERS
Mizrahi Tefahot Bank Ltd., Ibn Gvirol Branch
(No. 405), Tel Aviv,
account No. 380383.
A check with the Central Banks' database did not
reveal anything detrimental on subject’s a/m account.
PAYMENT
We received positive opinion on subject payment morality couple of years
ago.
I.P.T working with subject since it was established but working with
Lidor Birenzwaig when he was Trade Deputy Director-General of FEINGOLD STEELS 1960 LTD., for some 14 years.
Subject has never had a payment problem and is very reliable.
YOTAM FISHER STEEL TRADE, working with Lidor Birenzwaig for over 7 years.
Subject has never had a payment problem and is very reliable.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
Prior to
establishing subject, owner Lidor Birenzwaig used to work for 14 years in
FEINGLD STEELS 1960 LTD., a leading and veteran local company in the metal
sector. He left when FEINGOLD was sold.
According to the Industrialists Association
economic review published in February 2006, import of iron and steel to the
local industry increased in 2005 by 2% comparing to the previous year, summing
up to US$ 1.3 billion. In addition, a 16% rise was noticed in the import of
stainless steel metals, reaching US$ 725 million.
SUMMARY
Good for trade engagements.
Maximum unsecured credit recommended US$ 80,000.
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%)