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MIRA
INFORM REPORT
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Report Date : |
12.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
CHEMOTRADE (2004) A.M. LTD. |
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Registered Office : |
P.O. Box 67, Azor (58190), 3 Timna Street, Industrial Zone,
HOLON 58813 |
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Country : |
Israel |
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Date of Incorporation : |
26.08.2004 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturers and Marketers of Essences for the Cosmetics, Paint,
Cleaning Materials and Other Industries |
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$ 30,000. |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name and address
CHEMOTRADE (2004)
A.M. LTD.
Telephone 972 3 558 43 30
Fax 972 3 558 43 57
P.O. Box 67, Azor
(58190)
3 Timna Street
Industrial Zone
HOLON 58813 ISRAEL
HISTORY & LEGAL FORMATION
A private limited
company, incorporated as per file No. 51-358371-6 on the 26.08.2004.
Subject was
established after subject’s shareholder Avinoam Mizrahi acquired all the machinery
and goodwill of CHEMOTRADE LTD., a private limited company incorporated in 1953
(originally founded as a non-registered business in 1944), which consequently
became inactive.
SHARE CAPITAL
Authorized share
capital NIS 40,000.00, divided into: –
40,000 ordinary
shares of NIS 1.00 each, of which
shares amounting to NIS 1.00 were issued.
SHAREHOLDER
Subject is fully owned by Avinoam Mizrahi.
SOLE
DIRECTOR & GENERAL MANAGER
Avinoam Mizrahi.
BUSINESS
Manufacturers and marketers of essences for the cosmetics, paint, cleaning
materials and other industries.
All sales are to the local market.
Among customers: DR. FISHER, PALACE BOSMAT, etc.
Among local suppliers: GADOT CHEMICAL TERMINALS.
Operating from rented premises (offices and factory), on an area of 450 sq.
meters, in 3 Timna Street, Industrial Zone, Holon.
Having 5 employees.
MEANS
Current stock is valued at NIS 600,000.
Other financial data not forthcoming.
There are 2 charges for unlimited amounts registered on the company’s
assets, in favor of Bank Leumi Le’Israel Ltd.
ANNUAL
SALES
2007 sales claimed to be NIS 3,500,000.
First 8 months of 2008 sales claimed to be NIS 2,000,000.
OTHER
COMPANIES
Sister companies, also 100% owned by Avinoam Mizrahi:
AV-ON PACKAGING IMPORT AND DISTRIBUTION LTD., established in 1983,
importers and marketers of packaging for cosmetics, marketers of aromatic oils,
and others.
VELVET SKIN LTD., marketers of skin treatment products (a new company).
BANKERS
Bank Leumi Le’Israel Ltd., Florentine Branch (No. 805), Tel Aviv.
CHARACTER
AND REPUTATION
Nothing unfavorable learned.
Subject continues the activities of a veteran and known plant CHEMOTRADE.
Subject has been enjoying the growth trend
in the local market in recent years, especially in the local industries,
including cosmetics and chemical industries, which are among subject's clients.
SUMMARY
Good for trade engagements.
Maximum unsecured credit recommended US$ 30,000.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.77 |
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UK Pound |
1 |
Rs.80.67 |
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Euro |
1 |
Rs.64.20 |
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%)