MIRA
INFORM REPORT
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Report Date : |
12.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
ELIYAHU HASSON LTD. |
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Registered Office : |
P.O. Box 3036,
Petach Tikva (49130) 10 Imber Street Kiryat Arieh Industrial Zone Petach
Tikva 49511 |
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Country : |
Israel |
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Date of Incorporation : |
30.10.1994 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Local Purchasing, Importers and Marketers of
Marble, Granite Stone and Natural Stone, as well as Marble Processing
Equipment. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
ELIYAHU HASSON LTD.
Telephone 972 3 922 70
55; 922 02 11
Fax 972 3 922 36 39
P.O. Box 3036, Petach
Tikva (49130)
10 Imber Street
Kiryat Arieh Industrial Zone
PETACH TIKVA
49511 ISRAEL
HISTORY
A private limited company, incorporated as per
file No. 51-204159-1 on the 30.10.1994. Subject’s founder, Mr. Eliyahu Hasson,
incorporated subject after withdrawing from a private family company named Ephraim S.A. Hasson (1989) Ltd., where
he was serving as a shareholder and director. This latter company was
established in 1989, itself continuing a private company originally established
in 1977 by the Late Ephraim Hasson, father of subject's present shareholder,
Eliyahu Hasson (both companies were voluntarily liquidated).
SHARE
CAPITAL
Authorized share capital NIS 25,200.00, divided
into 25,200 ordinary shares of NIS 1.00 each, of which shares amounting to NIS
100.00 were issued.
SHAREHOLDERS
1. Eliyahu Hasson, 99%,
2. Mrs. Edna Hasson, wife of Eliyahu, 1%.
SOLE
DIRECTOR & GENERAL MANAGER
Eliyahu (Eli) Hasson
BUSINESS
Local purchasing, importers and marketers of
marble, granite stone and natural stone, as well as marble processing
equipment.
Subject claims to have many relatively small
clients.
Among clients: BIALIK MARBLE, MARBLE A. VINKLER,
BEIT ISRAEL MARBLE, etc.
50% of purchases are imported, the rest purchased
locally.
Among suppliers: CEASAR STONE-SDOT YAM (a main
supplier).
Operating from premises (offices, showroom,
storage facilities), owned by the shareholders, on an area of 3,500 sq. meters
(of which 1,000 sq. meters built), in 10 Imber Street, Kiryat Arieh Industrial
Zone, Petach Tikva.
Having 10 employees (same as in previous years).
MEANS
Current stock is valued at NIS 1,000,000 (was
valued at NIS 8,000,000 in 2006).
Property owned by the shareholders in Kiryat Arieh Industrial Area (where subject is operating
from), is valued at US$ 2,000,000.
There is 1 charge for an unlimited amount
registered on the company's assets (financial assets), in favor of Union Bank
of Israel Ltd.
ANNUAL SALES
2004 sales claimed to be NIS 26,000,000.
2005 sales claimed to be NIS 28,000,000.
2006 sales claimed to be NIS 30,000,000.
2007 sales claimed to be NIS 34,000,000.
BANKERS
Bank Hapoalim Ltd.,
Belinson Branch (No. 522), Petach Tikva,
account No. 500054 – main account.
A check with the Central Banks’ database did not reveal negative
information on subject’s above mentioned account.
Union Bank of Israel Ltd., Kiryat Arieh Branch
(No. 076), Petah Tikva.
CHARACTER
AND REPUTATION
Nothing unfavorable learned.
Subject's manager, Eliyahu Hasson, is veteran in
the marble field. This a long established third-generation family business.
The local market for bath, ceramic and sanitary is estimated at NIS 2
billion per year.
According to the
Central Bureau of Statistics, there was a mere 1.6% increase in sale of new
apartments in 2007, comparing to 2006 (total of 13,576 new apartments). This
marks the 4th consecutive year of rise in new apartments built.
According to the
Central Bureau of Statistics, in 2007 overall investments in the construction
sector increased by 4.6% from 2006, when they fell by 1% compring to 2005.
Building starts
for dwelling during 2007 summed up to 29,000 housing units, similar to 2006 and
less than the 30,600 units in 2005. Sources in the sector forcast the building
starts for dwelling to rise by 4% in 2008.
In 2006, there was
a 23% increase in building starts not for dwelling, reaching 2.1 million square
meters.
SUMMARY
Good for trade engagements.
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%)