MIRA
INFORM REPORT
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Report Date : |
11.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
ZETA INDUSTRIES & TRADING LTD |
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Registered Office : |
P.O. Box 6440, Farm #36, GIVAT KOACH 73180 |
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Country : |
Israel |
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Date of Incorporation : |
4.1.2001 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and Marketers of ironsmith and hardware products for
assembly of truck structures, parts assembled on truck chassis, made of metal
and plastic. |
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$ 80,000. |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
ZETA INDUSTRIES & TRADING LTD.
Telephone 972 3 979 17 71
Fax 972 3 979 17 92
P.O. Box 6440
Farm #36
GIVAT KOACH 73180 ISRAEL
HISTORY & LEGAL FORMATION
A private limited
company, incorporated as per file No. 51-306359-4 on the 4.1.2001.
SHARE CAPITAL
Authorized share capital NIS 35,000.00 divided into-
35,000 ordinary
shares of NIS 1.00 each, of which shares amounting to NIS 100.00 were issued.
SHAREHOLDERS
1. Itzhak (Isi) Yogev, 67%,
2. Ronen Mizrahi, 33%.
DIRECTOR & GENERAL MANAGER
Ronen Mizrahi
BUSINESS
Importers and
marketers of ironsmith and hardware products for assembly of truck structures, parts
assembled on truck chassis, made of metal and plastic.
Also importers
and marketers of lifting and conveyance equipment.
Subject also
sells for export on low scales.
Among local
customers: HATEOF, PALSAN SASA, ISI YOGEV INDUSTRIES (an affiliate), MARYUMA
CENTRAL CO. FOR CHASSIS MANUFACTURING, etc.
Most purchasing
is from import.
Sole local representatives of (main one):
AL-KO, of Germany,
FURGOCAR, of Italy,
LABCRAFT, of England,
BOSTIK, LOAD LOK, both of Holland.
POMMIER, of
France,
JULI GROUP, TOHO,
both of China.
Operating from
rented premises, on an area of 500 sq. meters, in Farm #36, Givat Koach
(located in the Upper Galilee, north of Israel).
Having 14
employees (had 8 employees in 2007).
MEANS
Current stock is
values at NIS 5,000,000 (same as in 2007).
There are 7 charges for unlimited amounts
registered on the company’s assets, in favor of Bank Leumi Le’Israel Ltd., Israel Discount
Bank Ltd. and Bank Hapoalim Ltd.
ANNUAL SALES
2005 sales claimed to be NIS 9,500,000.
2006 sales claimed to be NIS 11,000,000.
2007 sales claimed to be NIS 14,000,000.
First 8 months of 2008 sales claim to be NIS 12,000,000.
OTHERC OMPANIES
CASTRO SERVICES FRO CHASSIS LTD., 76%, repair of trucks chassis, operating
from same premises as subject.
ZETA LIFTING & CONVEYANCE EQUIPMENT LTD., 76%, selling lifting and
conveyance equipment, operating from same premises as subject.
ISI YOGEV INDUSTRIES LTD., owned by Isi Yogev, manufacturers and
marketers of crates for trucks and lorries.
RONEN OMER TRAD LTD., 33% owned by Ronen Mizrahi, non-active.
BANKERS
Israel Discount Bank Ltd., Haifa Main Branch (No. 070), Haifa,
account No. 33766.
Bank Hapoalim Ltd.,Bat Yam Branch (No. 642), Bat Yam, account No.
133123.
A check with the Central Banks' database did not reveal any negative
information regarding subject's a/m account.
Bank Leumi LeIsrael Ltd., Hanevi'im Branch
(No. 702), Haifa.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
Sister company ISI
YOGEV INDUSTRIES LTD. is well-known and among the leading companies in their
field in the local market.
In June 2007 ISI YOGEV INDUSTRIES signed an agreement with HATEHOF
LTD., according to which the parties will established a new company, equally
owned, and transfer all of their present companies' activities into the new
company. The new company will acquire from ISI YOGEV all its assets and
liabilities, in consideration of NIS 2.88 million and all of HATEHOF's
activities in the said area, including stock and equipment, for NIS 200,000.
Also according to the agreement, subject's shareholder, Mr. Isi Yogev,
will become the General Manager of the new company.
The new company will operate from subject's premises and pay rent to
the company owned by Mr. Yogev.
HATEHOF LTD. is a veteran leading company
in its field. This is a public limited company, whose shares are traded on the
Tel Aviv Stock Exchange, and controlled by David Oron (84%) since 2004. The
company was originally founded in 1947 and incorporated in 1968. HATEHOF
current market value is US$ 10 million.
SUMMARY
Good for trade
engagements.
Maximum unsecured
credit recommended US$ 80,000.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.44 |
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UK Pound |
1 |
Rs.79.62 |
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Euro |
1 |
Rs.63.48 |
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%)