MIRA
INFORM REPORT
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Report Date : |
24.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SILK ROAD LTD |
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Formerly Known As : |
SHESH ALPAYIM LTD |
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Registered Office : |
P.O. Box 179, Unit 52, Ben Shemen 73115 |
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Country : |
Israel |
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Date of Incorporation : |
08.05.1985 |
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Legal Form : |
A Private Limited Company |
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Line of Business : |
Importers and Marketers of Gifts and Ornamental Goods |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 50,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name & address
SILK ROAD LTD.
Telephone 972 8 920 05 05
Fax 972 8 920 97 93
P.O. Box 179
Unit 52
BEN SHEMEN 73115 ISRAEL
HISTORY & LEGAL FORMATION
A private limited
company, incorporated as per file No. 51-106844-7 on the 8.5.1985, under the
name SHESH ALPAYIM LTD., which changed to present one on the 30.10.1986.
SHARE CAPITAL
Authorized share
capital NIS 1,330.00, divided into -
1,330,000 ordinary shares of NIS
0.001 each,
of which shares
amounting to NIS 0.2 were issued.
SHAREHOLDERS
1.
Hernan Felman, 70%,
2.
Boris Reigorodsky, 30%.
SOLE DIRECTOR & GENERAL
MANAGER
Hernan Felman,
born 1947.
BUSINESS
Importers and
marketers of gifts and ornamental goods, e.g. glass, ceramic, designed
packaging & boxes, etc.
Amongst clients
are retail store chains: NEW HAMASHBIR LAZARCHAN (largest local department
store), BODY SHOP, CANDYLAND, BETILI, WARDINON, and corporate sector: CARMEL
WINES, UNILEVER ISRAEL, STRAUSS/ ELITE, etc.
All purchasing are
imported. Import is from Europe and Far East.
Representatives
of: BALLARINI – of Italy, CRISTALERÍAS DE MATARÓ, VIDRIO ECOLÓGICO, REGÁS– all
of Spain, HERDMAR – of Portugal and more.
Operating from
rented premises (offices and warehouses), on an area of 3,000 sq. meters, in
Unit #52, Ben Shemen (or Moshav Ben Shemen, where "Moshav" is a type
of village, cooperative agricultural community of individual farms).
Having 15
employees.
MEANS
Financial data not
forthcoming.
There are 14
charges for unlimited amounts registered on the company's assets (financial and
fixed assets), in favor of Bank Leumi Le'Israel Ltd., The First International
Bank of Israel Ltd., Bank Hapoalim Ltd., Israel Discount Bank Ltd. and leasing
companies.
ANNUAL SALES
Sales figures not
for
thcoming.
OTHER COMPANIES
BELLA CASA HOUSE
DESIGN LTD., (known as "Bella Casa"), owned by subject's
shareholders, operating since 2006, operating 3 giftware shops.
BANKERS
Mercantile
Discount Bank Ltd., Derech Hayam Branch (No. 655), Tel Aviv.
Bank Leumi
Le'Israel Ltd., Lod Branch (No. 937), Lod
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
Subject is veteran
in their branch.
The total giftware
market in Israel is estimated at NIS 4.83 million (not including holidays
presents) according to a report from September 2006. The market is divided into
perfumes (31%), flowers and flowerpots (19%), books (17%), household goods
(17%), pleasure gifts (8%), wine (6%) and others.
SUMMARY
Notwithstanding
the refusal to disclose financial details, considered good for trade
engagements.
Maximum unsecured
credit recommended US$ 50,000.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 41.96 |
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UK Pound |
1 |
Rs.83.78 |
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Euro |
1 |
Rs.65.82 |
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%)