MIRA
INFORM REPORT
|
Report Date : |
06.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
MIZRACH SHEMESH IMPORT AND MARKETING LTD. |
|
|
|
|
Registered Office : |
22 Merhavia Street TEL AVIV 42905 |
|
|
|
|
Country : |
Israel |
|
|
|
|
Date of Incorporation : |
16.12.2004. |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importers and Marketers of Giftware (including
gifts for men, for the household, fabrics, vases, etc.). |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
US$ 5,000. |
|
|
|
|
Status : |
Small company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
Correct
name & address
MIZRACH SHEMESH IMPORT AND MARKETING LTD.
Telephone 972 3 682 42 31
Fax 972 3 682 42 63
22 Merhavia Street
TEL AVIV 42905 ISRAEL
HISTORY & LEGAL FORMATION
A private limited
company, incorporated as per file No. 51-361914-8 on the 16.12.2004.
(“mizrach” and “shemesh”, mean “east” and “sun” in English, respectively).
SHARE CAPITAL
Authorized share
capital NIS 39,000.00, divided into -
39,000 ordinary shares of NIS 1.00 each, of
which shares amounting to NIS 100.00 were issued.
SHAREHOLDERS
Subject is fully
owned by Pinchas Dvir.
SOLE DIRECTOR & GENERAL
MANAGER
Pinchas Dvir.
BUSINESS
Importers and marketers of giftware (including gifts for men, for the
household, fabrics, vases, etc.).
Offering some 500
items.
Subject’s
clientele include over 300 shops.
Imports are from
China and Thailand. Currently begin imports from India as well.
Operating from
rented premises (offices), in 22 Merhavia Street (corner of Matalon Street),
Tel Aviv and from storage facilities, on an area of 250 sq. meters, in Moshav
Hemed (a village near the Ben Gurion Intl. Airport).
Note: We are informed that subject is soon to close
down its Tel Aviv office and move all activities to Moshav Hemed.
Having 6
employees.
MEANS
Financial data not forthcoming.
There are 4
charges for unlimited amounts, as well as a further charge amounting to NIS
29,000.00 registered on the company's assets (financial and fixed assets), in
favor of Mizrahi Tefahot Bank Ltd., Israel Discount Bank Ltd. and leasing
companies.
ANNUAL SALES
Sales figures not
forthcoming.
BANKERS
Mizrahi Tefahot Bank Ltd., Ramat Poleg Branch (No. 413), Ramat Gan,
account No. 143107.
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.
Subject’s officials refused to disclose
financial details.
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$ 5,000.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.88 |
|
UK Pound |
1 |
Rs.82.97 |
|
Euro |
1 |
Rs.64.99 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)