MIRA
INFORM REPORT
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Report Date : |
06.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
HORSE CENTER LTD. |
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Registered Office : |
Farm # 1 UDIM
42905 |
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Country : |
Israel |
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Date of Incorporation : |
1996 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and Marketers of Horses Riding
Equipment, mainly Riding Apparel and Footwear. |
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
HORSE CENTER LTD.
Telephone 972 1 700 702 770
Fax 972 9 885 37
80
Farm # 1
UDIM 42905 ISRAEL
HISTORY & LEGAL FORMATION
A private limited company,
incorporated as per file No. 51-389440-2 on the 16.11.2006.
(Name in Hebrew: SUS – CENTER LTD., where "sus" means "horse"
in English).
Activities
originally established in 1996 by Yoav Eliav, one of subject's shareholders, in
his private limited company SHUDAN LTD.
Subject was
established in view of continuing the business activities of SHUDAN following
the joining of Shlomi Michael (and SHUDAN became inactive).
SHARE CAPITAL
Authorized share
capital NIS 10,000.00, divided into -
10,000 ordinary shares of NIS 1.00 each, of
which shares amounting to NIS 2,000.00 were issued.
SHAREHOLDERS
1. Yoav Eliav,
50%,
2. Shlomi Michael,
50%.
DIRECTORS & JOINT GENERAL
MANAGERS
1. Yoav Eliav,
2. Shlomi Michael.
BUSINESS
Importers and marketers of horses riding equipment, mainly riding apparel
and footwear.
Sales are to many
private customers. Among corporate clients: ESHEL VETERINARY SERVICES.
99% of purchasing
is from import.
Sole local
representatives of (main ones):
C.Y., H.H. BROWN,
BIG HORN, ARIATE, all of the U.S.A.
KERCKHAERT, HORKA,
both of the Netherlands.
J.D. SQUARE, of
China.
SOYO, of Japan.
STUBEN, of Switzerland.
FLAK, of Germany.
Customs &
Clearance Agents: AMEX (Tel Aviv/ Rishon Le-Zion).
Operating from
rented premises (offices, showroom and warehouses), on an area of 500 sq.
meters, in Farm No. 1 ("Meshek 1"), Udim village (near Netanya) and
from retail stores in:
1. Barash Estate,
Barak village (Moshav Barak).
2. Industrial Zone,
Hatzor Haglilit.
Having 10
employees.
MEANS
Current stock is valued at NIS 5,000,000 (was valued at NIS 3,500,000 in
2007).
Other financial data not forthcoming.
There are 2
charges for unlimited amounts registered on the company's assets (financial
assets), in favor of Bank Otsar Hahayal Ltd.
ANNUAL SALES
2007 sales claimed
to be NIS 10,000,000.
First 9 months of 2008 sales claimed to be
NIS 9,000,000.
OTHER COMPANIES
SHUDAN LTD., owned
by Yoav Eliav, non-active.
BANKERS
Bank Otsar Hahayal Ltd., Ramat Poleg Branch (No. 495), Netanya,
account No. 39918.
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.
SUMMARY
Good for trade
engagements.
Maximum unsecured credit recommended US$ 50,000.
NOTE
Telephone number you gave (972 52 381 79 79) is the mobile phone of Mr. Yoav Eliav.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.88 |
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UK Pound |
1 |
Rs.82.97 |
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Euro |
1 |
Rs.64.99 |
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%)