MIRA INFORM REPORT

 

 

Report Date :

06.12.2011

 

IDENTIFICATION DETAILS

 

Name :

JERUSALEM PACKAGING (1987) LTD.

 

 

Registered Office :

P.O. Box 45265 (91450) 2 Yitaron Street Atarot Industrial Zone Jerusalem 97800            

 

 

Country :

Israel

 

 

Date of Incorporation :

03.08.1987

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Traders, importers and marketers of foodstuff (dry food, canned food, flour, sugar, etc.).

 

 

No. of Employees :

40 Employees.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 100,000.

Status :

Satisfactory

Payment Behaviour :

No Complaints

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 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Israel

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address      

 

JERUSALEM PACKAGING (1987) LTD.

(Also known in its Hebrew name:

ARIZOT YERUSHALAYIM (1987) LTD.)

Telephone                972 2 656 73 77

Fax                         972 2 656 73 51

P.O. Box 45265 (91450)

2 Yitaron Street

Atarot Industrial Zone

JERUSALEM           97800                        ISRAEL

 

 

HISTORY & LEGAL FORMATION

 

A private limited company, incorporated as per file No. 51-121716-8 on the 03.08.1987, continuing a non-registered business activities which started many years beforehand.

 

 

SHARE CAPITAL

 

Authorized share capital NIS 300,000.00, divided into -

                 300,000 ordinary shares of NIS 1.00 each,

of which 150,006 shares amounting to NIS 150,006.00 were issued.

 

 

SHAREHOLDERS

 

1.     Rahamim Amedi, 40%, 

2.     Haim Einav, 20%,

3.     Abraham Amedi, 20%,

4.     Yehezkel Anavim, 20%.

 

 

DIRECTORS

 

1.     Haim Einav, General Manager,

2.     Yehezkel Anavim,

3.     Rahamim Amedi,

4.     Rahamim Amedi.

 

 

BUSINESS

 

Traders, importers and marketers of foodstuff (dry food, canned food, flour, sugar, etc.).

 

20% of purchase is import.

 

Among clientele: MAAFE NEEMAN.

 

Among local suppliers: SHEMEN INDUSTRIES, UNILEVER ISRAEL FOODS, OSEM, and more.

 

Operating from rented premises, on an area of 1,700 s. meters, in 2 Yitaron Street, Atarot Industrial Zone, Jerusalem.

 

Having 40 employees.

 

 

MEANS

 

Financial data not forthcoming.

 

There are 23 charges for unlimited amounts registered on the company's assets, in favor of Bank Leumi Le'Israel Ltd., Union Bank of Israel Ltd., Mizrahi Tefahot Bank Ltd. and companies (last 2 charges placed March – July 2011).

 

 

REVENUES

 

Sales data not forthcoming.

 

 

BANKERS

 

Mizrahi Tefahot Bank Ltd., Kanfei Nesharim Branch (No. 539), Jerusalem, account No. 253270.

 

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 data.

 

Subject is a veteran business.

 

Subject may have assumed the activities of JERUSALEM TRADE (ANAVIM) LTD., established 1984, owned by subject's shareholders, which was struck off.

 

The local market for current consumption of consumer products grew in 2010 in money terms by 3.7% from 2009, while in the food & beverage market 3.9% growth was noted (summing up to NIS 33.3 billion). These numbers reflect the improvement in the local economy after the slow-down in 2009.

 

Import of food and beverages to Israel in 2009 decreased by 9.4% comparing to 2008, but recovered and rose by 15.5% in 2010, reaching US$ 1,986.5 million. A further improvement has been noted in 2011 first 8 months, where import of food & beverages rose 24% comparing to 2010, summing up to US$ 1,626.7 million.

 

Local food industry employs 61,000, level which remained stagnant in 2008/9.

 

Central Bureau of Statistics (CBS) data shows that imports of raw food products to Israel in 2010 summed up to US$ 1,673 million, 23% increase from 2009, after in that year there was a 20% decrease from 2008, due to the slow-down trend in local economy. Over 50% of import is from the EU. The growth trend continued in the first 8 months of 2011 –28% rise (compared with 2010), totaling US$ 1,387 million.

 

 

SUMMARY

 

Good for trade engagements.

Maximum unsecured credit recommended US$ 100,000.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.39

UK Pound

1

Rs.80.20

Euro

1

Rs.68.92

 

 

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

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

--

NB

                                       New Business

 

--

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.