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MIRA
INFORM REPORT
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Report Date : |
07.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
Y. D. ENTERPRISES (1986) LTD. |
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Registered Office : |
20 Eliyahu Eitan Street New Industrial Zone Rishon Le-Zion 75703 |
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Country : |
Israel |
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Date of Incorporation : |
30.3.1986. |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers, distributors and marketers of
wines, beers, alcoholic and non-alcoholic beverages, olive oil, etc |
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$ 450,000. |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
Y. D. ENTERPRISES (1986)
LTD.
(Also trading as: Y & D ENTERPRISES (1986) LTD
Telephone 972 3 951
99 66
Fax 972 3
961 04 04
20 Eliyahu Eitan Street
New Industrial Zone
RISHON LE-ZION 75703 ISRAEL
HISTORY
A private limited company, incorporated as per file No. 51-111363-1 on the
30.3.1986.
Company was incorporated with the view of taking over the business activities
of Y. AND D. ENTERPRISES LTD., originally incorporated in 1979, which became a
real estate company following the incorporation of subject.
SHARE
CAPITAL
Authorized share capital NIS 3,000.00, divided into - 3,000 ordinary shares
of NIS 1.00 each, of which shares amounting to NIS 100.00 were issued.
SHAREHOLDERS
1.
David Bavli -
42%,
2.
Yossef Amram -
42%,
3. Dov (Dubic) Feintun - 15%,
4. David Bavli and Yossef Amram - 1%.
DIRECTORS
1.
David Bavli -
General Manager,
2.
Yossef Amram.
BUSINESS
Importers, distributors and marketers of wines, beers, alcoholic and
non-alcoholic beverages, olive oil, etc.
Sales are to all supermarket chains, as well as the institutional market.
Sole local representatives and distributors for, among others:
Tullamore Dew; Carolans - both of Ireland,
Vodka Royalty; Vodka Ursus; De Kuyper - all of Holland,
Cointreau; Moet and Chandon; Hennessy; Raynal - all of France,
Harvey's Bristol, Q Gin - both of England,
Beck's - of Germany,
Hubblien, Francis Coppola, Miller - all of the U.S.A.,
Tsantaly - of Greece,
Icy Vodka - of Iceland,
Dewar's; Teacher's; Longman Distillers - all of Scotland,
Coltiva - of Italy,
Godyva - of Belgium,
The Patron - Mexico..
Operating from premises (offices, warehouses, logistics), owned by the
shareholders, on an area of 1,400 sq. meters, in 20 Eliyahu Eitan Street, New Industrial
Zone, Rishon Le-Zion, and a branch, on rented area of 120
sq. meters, in Kriyat Bialik.
Having 50 employees, serving the subject and the Group (had 40 employees in
2005/6).
MEANS
Current consolidated stock is valued at NIS 14,000,000.
In January 2001 it was reported that subject acquired BARKAN WINERIES’
previous premises in Rishon Le Zion, on an area of 670 sq. meters, for a sum of
US$ 840,000.
There are 16 charges for unlimited amounts registered on the company's
assets, in favor of local banks and companies.
ANNUAL
SALES
Consolidated 2002 sales claimed to be NIS 40,000,000.
Consolidated 2003 sales claimed to be NIS 45,000,000.
Consolidated 2004 sales claimed to be NIS 45,000,000.
Consolidated 2005 sales claimed to be NIS 50,000,000.
Consolidated 2006 sales claimed to be NIS 55,000,000.
Consolidated 2007 sales claimed to be NIS 60,000,000.
OTHER
COMPANIES
Y.D. TOBACCOS LTD., importers and marketers of tobacco and cigars.
M. D. ENERGY
INTERNATIONAL TRADE LTD., 75%, works on a low level.
Y. AND D. ENTERPRISES LTD., a real estate company,
BAKBUK BAROSH LTD., non-active.
CHOICE WORLD WINE LTD., non-active since 2002.
CARMEL Y.D. ENTERPRISES EILAT LTD.
BANKERS
Bank Leumi LeIsrael Ltd., Hahashmonaim Business Branch (No. 817), Tel Aviv,
account No. 413800/64,
Mizrahi Tefahot Bank Ltd., Hatzerot Yafo Branch (No.
406), Tel Aviv,
account No. 209025,
The First International Bank of Israel Ltd.,
Yafo Branch (No. 043), Tel Aviv, account No. 506060,
Israel Discount Bank Ltd., Hatzerot Yafo Branch
(No. 026), Tel Aviv,
account No. 378747,
Bank Hapoalim Ltd., Hadarom Branch (No. 517),
Tel Aviv, account No. 85550.
A check with the Central Banks' database did not
reveal anything detrimental on subject’s a/m accounts.
CHARACTER
AND REPUTATION
Nothing unfavorable learned.
Subject is a long-established business, well known in its field. It imports
some 300 alcohol brands.
In May 2000, following a business relation with Jordanian Company, who got
the concession to distribute "Miller" beer in the Middle East,
subject started the distribution of this beer in Israel (after the beer’s
previous distributors cease distribution 3 years ago).
In July 2005, CLUBMARKET, a leading local
marketing chain, went into receivership following heavy debts.
Subject officials told us that they will get
back 63% out of CLUBMARKET’s
NIS 440,000 outstanding debt to them.
The local
bar-coded beer market is valued at NIS 600 million per year. The beer market
actually decreased lately, following the government restrictive rules against
foreign workers, big beer consumers, which were forced to move out of the
country.
The winery field in Israel has been constantly growing during the last
several years. There are some 25 commercial wineries operating in Israel (75%
market share held by 3 largest wineries), and some 150 active small "boutique
wineries".
Total wine market in Israel is estimated at US$ 175 million, 80% of which
is from local wineries, the rest from import. Wine export reaches NIS 62 million, mainly
to the U.S.A.
Wine consumption was estimated at 7 litres per capita, per year. Estimation
in the branch forecast a growth in consumption, which will reach 8 to 10 litres
per capita, however profitability will decrease due to competition (growth in
import) and higher production costs.
The
local market volume for wine and alcohol was estimated at NIS 1.2-1.8 billion
in 2006, exclusive of beers. The market volume including beers reached NIS 2.5
billion according to surveys.
SUMMARY
Good for trade
engagements.
Maximum unsecured
credit recommended US$ 450,000.
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%)