MIRA
INFORM REPORT
|
Report Date : |
30.01.2008 |
IDENTIFICATION
DETAILS
|
Name : |
CLASIKALETET LTD. |
|
|
|
|
Registered Office : |
Hayotzer Center, 34 Hahofer
Street, Industrial Zone, Holon 58858 |
|
|
|
|
Country : |
Israel |
|
|
|
|
Date of Incorporation : |
1988 |
|
|
|
|
Com. Reg. No.: |
51-150217-1 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturers, producers, exporters and
marketers of educational and recreation multimedia products for children,
including DVDs, CDs, video cassettes, computer educational software programs,
as well as books |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
US$ 50,000. |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
COMPANY NAME & ADDRESS
CLASIKALETET LTD.
Hayotzer Center
34 Hahofer Street
Industrial Zone
HOLON 58858 ISRAEL
Telephone 972
3 558 20 80
Fax 972
3 558 22 99
HISTORY
Originally established in 1988 as a
non-registered business under the name CLASIKALETET.
Converted into a private limited company, incorporated
as per file No. 51-150217-1 on the 9.9.1990.
SHARE
CAPITAL
Authorized share capital NIS 14,000.00, divided
into - 14,000 ordinary shares of NIS 1.00 each, of which shares amounting to
NIS 100.00 were issued.
SHAREHOLDERS
1. Mordechai (Mark) Amos - 50%
2. Mrs. Ilana Amos, wife of Mordechai - 50%
SOLE
DIRECTOR
Mrs. Ilana Amos.
GENERAL
MANAGER
Mordechai (Mark) Amos.
BUSINESS
Manufacturers, producers, exporters and marketers
of educational and recreation multimedia products for children, including DVDs,
CDs, video cassettes, computer educational software programs, as well as books.
Also supply content for TV VOD broadcast channels.
Almost all sales are to the local market, to most retail marketing
chains.
Amongst clients: CO-OP BLUE SOUARE, HOME CENTER, SHILAV, TZOMET SFARIM,
DYONON, SUPERSOL, STEIMATZKY, HOT VISION, OFFICE DEPOT, SUPERPHARM, etc.
Amongst foreign suppliers: DISNEY - USA, KING
ROLLER - UK.
Amongst local suppliers: MACHSANEI TEURA, OMI,
CD LINE, etc.
Operating from owned premises, on an area of 800
sq. meters, in 34 Hahofer Street, Hayotzer Center, Industrial Zone, Holon, and
from a rented warehouse on an area of 1,000 sq. meters in 14 Habanai Street,
Holon.
In August 1999, it was reported that subject
acquired 800 sq. meters in Hayotzer Center, 34 Hahofer Street, Holon, for a sum
of US$ 920,000.
Having some 35 employees.
MEANS
Financial data not forthcoming.
Premises were valued at US$ 1,000,000.
There are 11 charges for unlimited amounts
registered on the company’s assets (fixed and financial assets), in favor of
local banks.
ANNUAL
SALES
2001 sales claimed to be NIS 12,000,000.
2002 sales claimed to be NIS 12,000,000.
Later sales figures not forthcoming.
OTHER
COMPANIES
CLASSIKINNERET LTD., non active,
AMITI - IDAN INVESTMENT CO. LTD.,
S.I.R. SHALOM LTD.
BANKERS
Bank Leumi LeIsrael Ltd., Hacharoshet Business
Branch (No. 651), Holon.
Bank Hapoalim Ltd., Itzhak Sade Branch (No.
780), Tel Aviv.
Bank Massad Ltd.
Mercantile Discount Bank Ltd.
CHARACTER
AND REPUTATION
In May 2007, ACUM, the local Artists' Organization for protection of
Intellectual Property, submitted a lawsuit against subject to the Tel Aviv
District Court, for NIS 2.6 million (the sum is for fee purpose). ACUM claims
that the agreement regarding rights between them and subject was not renewed in
2006, therefore no longer valid but the defendants kept producing products
without paying royalties. The plaintiffs also accuse subject in false reports
regarding correct sales along the years they had the agreement valid (c.a.
1680/07).
Apart of that, nothing unfavorable learned.
Despite our efforts, we were unable to speak with subject's officials.
We left messages, however so far they have not returned. In case we manage to
speak with them, we shall update you accordingly.
Subject is a leading local company in their field.
It should be noted that subject suffers from the pirate products that flood
the market.
In September 2004, it was reported that subject invested NIS 1 million
in the new line of kids brand.
SUMMARY
Notwithstanding lack of updated data, considered
good for trade engagements.
Maximum unsecured credit recommended US$ 50,000.
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%)