MIRA
INFORM REPORT
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Report Date : |
22.05.2008 |
IDENTIFICATION
DETAILS
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Correct 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 : |
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
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.
Among local
clients: RAMI LEVI HASHIKMA MARKETING, BLEU SQUARE CO-OP (both later are large
supermarkets chains), etc.
All purchasing is
from import.
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, owned by the shareholders, in Ashdod.
Having 25
employees.
MEANS
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,
General Manager Danny Lipaz is the owner of L.D.A.M. TRADE LTD., which used to operate
in general consumer goods trade and appears to be 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.
Despite our efforts, so far we were unable
to speak with subject's General Manager, Danny Lipaz, as he too busy to take
our calls. We were asked to call next week – and once we do so, we shall update
you accordingly.
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 update
financial data, considered 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%)