MIRA
INFORM REPORT
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Report Date : |
18.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
TALI – AVNEY TAL LTD |
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Registered Office : |
34 Allenby
Street, Tel Aviv, 63325 |
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Country : |
Israel |
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Date of Incorporation : |
11. 02.1999 |
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Legal Form : |
A Private Limited Company |
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Line of Business : |
Importers and marketers of marble and stone. |
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$ 70,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & ADDRESS
TALI – AVNEY TAL LTD
Telephone 972 3 510 16 64/ 3
Fax 972 3 510 33 11
34 Allenby Street
TEL AVIV 63325
ISRAEL
HISTORY
A private limited company, incorporated as per file No. 51-274528-2 on
the 11. 2.1999.
Originally registered under the name BEIT
ZIONEY AMERICA - CINEMAS LTD., which changed to KING CINEMAS LTD. on the
11.5.2000.
Subject was dormant for some period, and was
reactivated by the current shareholder with the purpose of operating in a new
area.
Consequently, on 21.9.2004 name changed to
the present one.
SHARE CAPITAL
Authorized share capital NIS 38,000.00, divided into -
38,000
ordinary shares of NIS 1.00 each,
of which shares amounting to NIS 100.00, were issued.
SHAREHOLDERS
Subject is fully owned by Ms. Tali Romani.
DIRECTORS AND JOINT
GENERAL MANAGER
Ms. Tali Romani.
BUSINESS
Importers and marketers of marble and stone.
Subject targets the high-society and
exclusive market.
It supplies mostly to privates.
100% of purchasing is from import.
Sole local representatives of:
ESTRABA, BASALTITE, both of Italy.
Operating from key-money premises, office
and showroom, and from rented warehouses in:
1) 10 Ha'amal Street,
Petach Tikva, on an area of 500 sq. meters,
2) Beit Tzuf, on an
area of 200 sq. meters,
3) Givat Brenner, on
an area of 100 sq. meters.
Having 6 employees.
MEANS
Current stock is valued at NIS 700,000.
Other financial data not forthcoming,
however enjoying the financial backing of the owner's father (see more below
CHARACTER).
There are 2 floating charges for unlimited
amounts registered on the company’s assets (financial assets), in favor of The
First International Bank of Israel Ltd.
ANNUAL SALES
2006 sales claimed to be NIS 6,500,000.
2007 sales claimed to be NIS 10,000,000.
BANKERS
The First International Bank of Israel Ltd.,
Ha'opera Branch (No. 044), Tel Aviv, account No. 571156.
A check with the Central Banks’ database did
not reveal any negative information regarding subject’s a/m account.
CHARACTER AND
REPUTATION
Nothing unfavorable learned.
Subject specializes selling to customers in luxurious residential
building projects, such as the "Yoo" HABAS towers in Tel Aviv and the
EL-ROV MAMILA project in Jerusalem.
Ms. Tali Romani is
the daughter of Moshe Edery, who jointly with his brother Leon Edery, own the
UNITED KING Group, which operates as distributors of video and DVD titles,
owners and operators of movie theatres, producers of movies, etc. The Group is
among the leading in their branch in Israel. It co-owns "Cinema
City", Israel's largest (21 screen) and successful mega-plex chain of
cinemas with 30 screens. The Group also owns similar ventures in Portugal.
The local market
for bath, ceramic and sanitary products is estimated at NIS 2 billion per year.
The local building, construction and metal
sectors has been slowly recuperating from the recession during the years
2001-2003, in the local market in general and in those sectors in particular,
from which many companies have been adversely affected by. The local economy
has been constantly growing since 2004, although the local construction sector
has been recovering in a slower pace.
In 2005 and 2006 most indicators in the
building and infrastructure sectors have shown improvements.
Building starts for dwelling during 2006
summed up to 29,600 housing units, less than the 30,600 units in 2005. However,
there was a 23% increase in building starts not for dwelling, reaching 2.1
million square meters.
The commercial real estate branch in 2006
was characterized in relatively high demand comparing to recent years.
According to data by
the local Contractors' Association, there was an increase in the total volume
of appartments and houses sold in 2006: the number of deals amounted to 83,150,
comparing to 82,350 in 2005 (and 79,245 in 2004). The forecast for 2007 and
2008 is further rise to 84,900 and 86,500 deals respectively. Sales of dwelling
from private building in 2006 marks the 3rd consecutive year in which this
indicator is rising.
It is worth noting
that construction indicators for the luxurious apartments and for projects in high
demand areas have been constantly growing.
Nevertheless, the
overall trend in the local sector remains negative due to diminishing demand in
the periphery areas.
SUMMARY
Good for trade engagements.
Maximum unsecured
credit recommended US$ 70,000.
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%)