MIRA INFORM REPORT
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Report Date : |
06.12.2011 |
IDENTIFICATION DETAILS
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Name : |
CLASIKALETET LTD. |
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Formerly Known As : |
CLASIKALETET |
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Registered Office : |
Hayotzer Center, 34 Hahofer Street, Industrial Zone, Holon 58858 |
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Country : |
Israel |
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Date of Incorporation : |
09.09.1990 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Producers, content developers, exporters and
Marketers of educational and recreation multimedia products |
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No. of Employees
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50 Persons |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
US$ 40,000. |
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Status : |
Moderate |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 & address
CLASIKALETET LTD.
Telephone 972 3 558 20 80
Fax 972 3 558 22 90
Hayotzer Center
34 Hahofer Street
Industrial Zone
HOLON 58858-ISRAEL
HISTORY & LEGAL FORMATION
Originally established in 1988 as a non-registered
business under the name CLASIKALETET.
Converted into a private limited company,
incorporated as per file No. 51-150217-1 on the 09.09.1990.
SHARE
CAPITAL
Authorized share capital NIS 14,000.00, divided
into -
14,000 ordinary shares of NIS
1.00 each,
of which 100 shares amounting to NIS 100.00 were
issued.
SHAREHOLDERS
1. Mordechai (Mark) Amos, 50%,
2. Mrs. Ilana Amos, wife of Mordechai, 50%.
SOLE
DIRECTOR
Mrs. Ilana Amos.
GENERAL
MANAGER
Mordechai (Mark)
Amos.
BUSINESS
Producers, content developers, exporters and
marketers of educational and recreation multimedia products for children,
including DVDs, CDs, video cassettes, computer educational software programs,
as well as books.
Also supply content for TV VOD broadcast channels.
Almost all sales are to the local market, to most retail marketing
chains.
Amongst clients: MEGA BOOL, HOME CENTER, SHILAV, TZOMET SFARIM,
SHUFERSAL, STEIMATZKY, HOT VISION, OFFICE DEPOT, SUPERPHARM, TZLIL, HOME
CENTER, etc.
Amongst foreign suppliers: D
Amongst local suppliers: MACHSANEI TEURA, OMI,
CD LINE, etc.
Operating from owned
premises, on an area of 800 sq. meters, in 34 Hahofer Street, Hayotzer Center,
Industrial Zone, Holon, and from a rented warehouse on an area of 1,000 sq.
meters in 14 Habanai Street, Holon.
In August 1999, it was reported that subject
acquired 800 sq. meters in Hayotzer Center, 34 Hahofer Street, Holon, for a sum
of US$ 920,000.
Having 50 employees.
MEANS
Financial data not forthcoming.
Owned property in Holon Industrial Zone (where
subject is operating from) was valued at US$ 1,000,000 several years ago.
There are 13 charges for unlimited amounts
registered on the company’s assets (fixed assets, financial assets and
vehicles), in favor of Bank Hapoalim Ltd., Mercantile Discount Bank Ltd.
and Bank Otsar Hahayal Ltd. (last charge placed January 2009).
SALES
Sales figures not forthcoming.
OTHER
COMPANIES
CLASSIKINNERET LTD., non-active,
AMITI - IDAN INVESTMENT CO. LTD.,
S.I.R. SHALOM LTD.
BANKERS
·
Bank Leumi
Le’Israel Ltd., Hacharoshet Business Branch (No. 651), Holon.
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Bank
Hapoalim Ltd., Itzhak Sade Branch (No. 780), Tel Aviv.
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Mercantile
Discount Bank Ltd.
Bank Otsar Hahayal Ltd., Bat Yam Holon Branch (No. 382), Bat Yam,
account No. 338375.
A check with the Central Banks' database did not reveal anything
detrimental on subject’s a/m account.
CHARACTER
AND REPUTATION
In May 2007, ACUM, the local Artists' Organization for protection of
Intellectual Property, submitted a lawsuit against subject to the Tel Aviv
District Court, for NIS 2.6 million (the sum is for fee purpose). ACUM claims
that the agreement regarding rights between them and subject was not renewed in
2006, therefore no longer valid but the defendants kept producing products
without paying royalties. The plaintiffs also accuse subject in false reports
regarding correct sales along the years they had the agreement valid (c.a.
1680/07). Matter is still pending.
In April
We found another motion for a class action lawsuit from
In October 2008 it was reported that subject reached a compromise with
an author of children books, who sued subject for violating her copyrights
regarding a series of her books. According to the compromise, subject is to pay
the author a sum of NIS 300,000.
Apart from that, nothing unfavorable learned.
Despite our efforts, we were unable to speak with subject's officials,
as they were always unavailable. We left messages which so far remain
unanswered.
Subject is a local leading and familiar company in their field, with
products are sold in local largest marketing chains.
It should be noted that subject suffers from the pirate products that
flood the market.
In September 2004, it was reported that subject invested NIS 1 million
in the new line of kids brand.
In April 2010 it was reported that subject will distribute the Oscar
winning animation film of "Peter and the Wolf" in DVD.
SUMMARY
Notwithstanding the refusal to disclose data,
considered good for trade engagements.
Maximum unsecured credit recommended US$ 40,000.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.40 |
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UK Pound |
1 |
Rs.80.20 |
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Euro |
1 |
Rs.68.92 |
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.