MIRA
INFORM REPORT
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Report Date : |
09.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
BAR LAKOL LTD. |
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Formerly Known as : |
BAR LAKOL |
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Registered Office : |
P.O. Box 25065, Haifa (31250) 16 Rozov Street, HAIFA 32953 |
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Country : |
Israel |
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Date of Incorporation : |
1950 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Processing Plant and Marketers of Cereals and Pulses. Importers and Marketers of Cereals and Pulses. |
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
BAR LAKOL LTD.
Telephone 972 4 841 19 72
Fax 972 4 840 68 06
P.O. Box 25065, Haifa (31250)
16 Rozov Street
HAIFA 32953 ISRAEL
HISTORY
Originally
established as a sole proprietorship in 1950 under the name “BAR LAKOL”, by
Yaacov Biran.
Converted into a private limited company and incorporated as such as per
file No. 51-281251-2 on the 01.08.1999.
SHARE CAPITAL
Authorized share
capital NIS 38,100.00, divided into –
38,100 ordinary
shares, of NIS 1.00 each,
of which shares
amounting to NIS 1000.00 were issued.
SHAREHOLDER
1. Yaacov Biran, 80%,
2. Noam Biran, 20%,
son of Yaacov.
DIRECTORS & JOINT GENERAL
MANAGERS
1. Yaacov Biran.
2. Noam Biran.
BUSINESS
1. Processing plant
and marketers of cereals and pulses.
2. Importers and marketers
of cereals and pulses.
Subject also grows
cereals and pulses for own use/ production.
Among customers:
SONS OF GEORGE SHUKHA, ZANLAKOL, PRI GALIL, NOF HADAGAN, and many others.
Inputs and raw materials
are grown by subject as well as from import.
Sole local
representatives of (main agencies):
EUROPEAN OAT
MILLERS, of the U.K,
NUAVA GENOVESE, of
Italy.
Operating from
premises, owned by the shareholders, on an area of 1,000 sq. meters in 16 Rozov
Street, Haifa. Also operate from warehouse, also owned by the shareholders, on
an area of 200 sq. meters, in Check-Post Industrial Zone, Haifa
Having 7 employees
(similar to previous years).
MEANS
Financial data not
forthcoming.
There are 5 charges for unlimited amounts registered on the company’s
assets (financial assets and a vehicle), in favor of Bank Leumi LeIsrael Ltd.,
Bank Hapoalim Ltd., and a leasing company.
ANNUAL SALES
Sales figures not forthcoming.
OTHER COMPANIES
SHUK HA'IKARIM VE-HABAR LTD., owned by Ella Biran, mother of Noam Biran,
operating a retail store for cereals and pulses and other products from 26
Hashalom Rd., Nesher (near Haifa).
BANKERS
Bank Leumi LeIsrael Ltd., Neve-Shaanan Branch (No. 882), Haifa,
account No. 472400/26.
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’s General Manager refused to disclose
financial details.
In 2008 subject
was awarded tax reductions for import of 10 tons of preserved cherries, 5.5
tons of pickled cherries, 12 tons of preserved mushrooms, 20 tons of
unprocessed tobacco, 10 tons of peeled hazelnuts, 20 tons of chocolate and
other food additives, 14 tons of olive oil (from Jordan), 20 tons of processed
& preserved tomatoes (from Canada).
According to the Foodstuff Industry Union in the Industrialists'
Association, 2006 sales of foodstuff and beverages by the food industry rose by
2.9% from 2005, reaching NIS 45.5 million. Sales for exports of the foodstuff
branch in 2006 were US$ 686 million, 4.1% increase from 2005, while sales to
the local market rose by 2.1%.
In 2007, export by the local food and beverages industry marked a further
rise –by 19% comparing to 2006, summing up to US$ 848 million.
Investments in machinery and equipment in 2006 reached NIS 860 million,
similar to 2005.
Imports of foodstuff to Israel in 2006 were US$ 1.18 billion, 13.4% increase
from 2005.
According to the
Central Bureau of Statistics, the total spending for private consumption in
2007 for food, beverage and cigarettes reached NIS 66.78 billion, a 6% rise
from 2006 (8% increase in 2006 from 2005), as part of the general trend in 2007
of higher current expenses for private consumption for durable goods.
SUMMARY
Notwithstanding the refusal to disclose
financial details, 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.43.13 |
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UK Pound |
1 |
Rs.85.02 |
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Euro |
1 |
Rs.67.77 |
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%)