MIRA INFORM REPORT

 

 

Report Date :           

20.12.2011

 

IDENTIFICATION DETAILS

 

Name :

HOTAM – H.I. LTD.

 

 

Registered Office :

43 Rothschild Street, Kfar Saba 44202    

 

 

Country :

Israel

 

 

Date of Incorporation :

04.02.1998

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importers and marketers of home furniture, ornaments, kitchenware, gifts, etc

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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

 

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 & address 

 

HOTAM – H.I. LTD.

Telephone       972 9 766 64 29; 765 07 18

Fax                972 9 765 85 30

43 Rothschild Street

KFAR SABA   44202                    ISRAEL

 

 

HISTORY & LEGAL FORMATION

 

A private limited company, incorporated as per file No. 51-259634-7 on the 04.02.1998.

 

 

SHARE CAPITAL

 

Authorized share capital NIS 35,700.00, divided into -

                 35,700 ordinary shares of NIS 1.00 each,

of which 100 shares amounting to NIS 100.00 were issued.

 

 

SHAREHOLDERS

 

1.    Yaakov Hakim Rafi, 99%,

2.    Ms. Yifat Hakim Rafi, 1%.

 

 

SOLE DIRECTOR & GENERAL MANAGER

 

Yaakov Hakim Rafi.

 

 

BUSINESS

 

Importers and marketers of home furniture, ornaments, kitchenware, gifts, etc.

 

Also operating 2 retail stores.

 

Among suppliers: MILLENNIUM MARKETING.

 

Operating from premises (office and retail store) in 43 Rothschild Street, Kfar Saba, and from a retail store in 6 Hataas Street, Industrial Zone, Kfar Saba.

 

Number of employees not forthcoming.

 

 

MEANS

 

Financial data not forthcoming.

 

There are 6 charges for unlimited amounts registered on the company's assets (financial assets and vehicles), in favor of Bank Hapoalim Ltd. and Mizrahi Tefahot Bank Ltd. (last charge placed July 2011 on a vehicle).

 

 

SALES

 

Sales figures not forthcoming.

 

 

BANKERS

 

Mizrahi Tefahot Bank Ltd., branch data not forthcoming.

 

 

CHARACTER AND REPUTATION

 

Nothing unfavorable learned.

 

Subject's General Manager refused to disclose any details besides general business activities.

 

According to the Central Bureau of Statistics (CBS) data, expenditure for private consumption per capita in 2010 on furniture for the household rose by 7.4% from 2009. This was part of the general growth in expenditure per capita on durable goods (10.7% increase), recovering from the slow-down trend in 2009 in the local market. Per capita expenditure on furniture stood on NIS 1,100 in 2010.

 

CBS data shows that import of Furniture and Domestic Electrical Equipment grew in 2010 by 9.4% from 2009 and summed up to US$ 2,072.5 million. This is after a withdrawal in 2009 by 2.7% from 2008, which stopped the growth trend since mid 2000s, and was due to the slow-down in the local market, parallel to the global economic crisis. According to CBS data for the first 8 months of 2011 the growth trend intensified, marking 29% increase in import comparing to the parallel period in 2010. However, it should be noted that based on CBS data in 2011 2nd half the local market has entered slow-down mainly due to macro economic reasons (connected with the global economic impact) and indications are that the market will continue facing slow-down in coming period.

 

Import of furniture (excluding plastic furniture) in 2010 totaled US$ 227 million, 17.4% increase from 2009, of which 25% was from China, 19% from Italy.

 

Export of furniture (excl. plastic furniture) summed up to US$ 18 million, 21.1% rise from 2009.

 

According to a survey in 2006, customers prefer mostly private and small shops (close to 58%), then large retail chains (22%) and the rest by carpenters, DIY chains, etc.

 

The total giftware market in Israel is estimated at NIS 1.4 billion (including holidays presents) according to a report from September 2006. The market is divided into perfumes (31%), flowers and flowerpots (19%), books (17%), household & tableware goods (17%), pleasure gifts (8%), wine (6%) and others.

 

 

SUMMARY

 

Considering the refusal to disclose data, dealings are recommended on secured basis.

 

Note: The fax number you gave (09-8919685) is an old one and irrelevant.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.96

UK Pound

1

Rs.82.04

Euro

1

Rs.68.91

 

 

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.