MIRA
INFORM REPORT
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Report Date : |
01.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
MAYA L.S. LTD. |
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Registered Office : |
12 Levinski Street TEL AVIV 66094 |
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Country : |
Israel |
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Date of Incorporation : |
17.1.2005. |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and
Marketers of textile products, mainly apparel for all purposes, as well as undergarments,
home textile goods, pajamas, shoes, etc. |
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$ 30,000. |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
MAYA L.S. LTD.
(Trading under the
name "MAYA FASHION")
Telephone 972 3
518 41 80
Fax 972
3 518 41 97
12 Levinski Street
TEL AVIV 66094 ISRAEL
HISTORY
A private limited company,
incorporated as per file No. 51-363961-7 on the 17.1.2005.
Subject is
continuing part of the activities of the Saluki family, operating in the
textile sector since 1985.
SHARE CAPITAL
Authorized share
capital NIS 100,000.00, divided into -
100,000 ordinary
shares of NIS 1.00 each, fully issued.
SHAREHOLDERS
Subject is fully
owned by Itzhak Saluki.
DIRECTORS & JOINT GENERAL
MANAGERS
1. Gil Saluki, son of Itzhak Saluki,
2. Danny Lipaz.
BUSINESS
Importers and marketers
of textile products, mainly apparel for all purposes, as well as undergarments,
home textile goods, pajamas, shoes, etc.
Products are sold
under the brand name "Maya".
Among local
clients: RAMI LEVI HASHIKMA MARKETING, BLUE SQUARE CO-OP (both later are large
supermarkets chains), HANGER METZION FASHION, SELECTION FASHION WAREHOUSES,
etc.
All purchasing is
from import (mainly from the Far East: India, China and others).
Operating from a
rented premises (offices and wholesale store), on an area of 240 sq. meters, in
12 Levinski Street, Tel Aviv and from warehouses, on an area of 2,500 sq.
meters, part of the farm of the shareholders –the Saluki family, owned by them,
in Moshav Givati (near Ashdod).
Having 20
employees (had 25 employees in 2007).
MEANS
Stock claimed to
be at a range of several million NIS.
Financial data not
forthcoming.
There are no
charges registered on the company's assets.
ANNUAL SALES
Sales figures not
forthcoming.
OTHER COMPANIES
According to our records,
General Manager Danny Lipaz is the owner of L.D.A.M. TRADE LTD., which used to
operate in general consumer goods trade and is inactive to-date.
BANKERS
Mizrahi Tefahot Bank Ltd., Ashdod Branch
(No. 416), Ashdod,
account No. 292200.
A check with the
Central Banks' database did not reveal anything detrimental on subject’s a/m
account.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
According to the
Central Bureau of Statistics, the current spending for private consumption in 2007
for clothing, footwear and personal items rose by 11.3% comparing to 2006 (10%
increase in 2006 from 2005), as part of the general trend in 2007 of higher
current expenses for private consumption per capita (7% increase).
The Israeli Chamber of Commerce noted that
in 2006 the Chinese production comprises over 20% of the imported textile goods
followed by France (14%), Italy (12%), Hong Kong and Turkey (around 10% each),
Spain (7%) and the U.S.A. (4%). The increase in imports emanates from the
exposure to foreign markets policy by the State.
Imported apparel
in 2006 summed up to US$ 990 million (4% increase from 2005), of which US$ 606
million were from China.
According to
surveys, around 50% and more is women's fashion. Moreover, 40% of fashion
stores in Israel belong to fashion chains, the rest being private shops.
SUMMARY
Notwithstanding the refusal to disclose
financial data, considered good for trade engagements.
Maximum unsecured credit recommended US$ 30,000.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.95 |
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UK Pound |
1 |
Rs.85.62 |
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Euro |
1 |
Rs.67.81 |
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%)