MIRA
INFORM REPORT
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Report Date : |
11.08.2011 |
IDENTIFICATION DETAILS
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Name : |
HALILIT EXPORT 1974 LTD. |
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Registered Office : |
P. O. Box. 406 (60254)
17 Hamifal Street Industrial Zone A Or Yehuda
6022 |
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Country : |
Israel |
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Date of Incorporation : |
04.01.1974 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturers, marketers
and exporters of musical toys. |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Israel |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
HALILIT EXPORT
1974 LTD.
Telephone 972 3 533 21 82
Fax 972 3 533 23 98
P. O. Box. 406
(60254)
17 Hamifal Street
Industrial Zone A
OR YEHUDA
60221 ISRAEL
HISTORY & LEGAL FORMATION
A private limited
company, incorporated as per file No. 51-067221-5 on the 04.01.1974.
Company was
founded when it was decided to separate the manufacturing and exporting
activities from the import and marketing activities, which are continued by
sister company HALILIT P. GREENSPOON & SONS LTD. (established in 1940).
SHARE CAPITAL
Authorized share
capital NIS 1,098.90, divided into -
4,175,000 ordinary shares of NIS
0.0001 each (4,139,000 shares issued),
681,400 ordinary "A"
shares of NIS 0.001 each (681,400 shares issued),
of which shares
amounting to NIS 1,095.30 were issued.
SHAREHOLDERS
1. Michael Greenspoon, 50%,
2. Asher Israel Greenspoon, 50%.
DIRECTORS
1
Michael Greenspoon,
2
Asher Israel Greenspoon.
GENERAL MANAGER
Moshe Zur
BUSINESS
Manufacturers,
marketers and exporters of musical toys.
Products include jingle
bells, mini maracas shakers, rainbow makers, drums, clatter pillars, rhythm
pals, play sounds, bandy bells, recorders, tambourines, resonation bells,
educational percussion toys, glackenspiels, etc.
90% of sales are
for exports.
Operating from premises
(plant and offices), owned by the shareholders, on an area of 900 sq. meters,
in 17 Hamifal Street, and a rented plant, on an area of 1,800 sq. meters, in 10
Hamifal Street (opposite 17 Hamifal Street), Industrial Zone A, Or Yehuda .
Having 50 employees
(same as in the end of 2009).
MEANS
Current stock is valued at NIS 3,500,000 (same as in the end of 2009).
There are 11
charges for unlimited amounts registered on the company's assets, in favor of
Bank Hapoalim Ltd.
ANNUAL SALES
2008 sales claimed
to be NIS 20,000,000, of which 90% were exports.
2009 sales claimed
to be NIS 21,000,000, of which 90% were exports.
2010 sales claimed
to be NIS 24,000,000, of which 90% were exports.
2011 first 6
months sales claimed to be NIS 11,000,000, of which 90% were exports.
OTHER COMPANIES
HALILIT P.
GREENSPOON AND SONS LTD., owned by subject’s shareholders, importers and
marketers of professional musical instruments and sound systems, representing
top brands, e.g. ROLAND, MARSHALL. Annual sales claimed to be NIS 25,000,000,
having 25 employees.
BANKERS
Bank Hapoalim
Ltd., Or Yehuda Branch (No. 657) Or Yehuda, account
No. 421200.
A check with the Central Banks' database did not reveal any negative
information regarding subject's a/m account.
CHARACTER AND REPUTATION
Nothing
unfavorable learnt.
Subject is a long
established business and well-known in their branch and a familiar brand
(“Halilit”).
SUMMARY
Good for trade
engagements.
Maximum unsecured
credit recommended US$ 100,000
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.21 |
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1 |
Rs.73.51 |
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Euro |
1 |
Rs.64.76 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.