MIRA INFORM REPORT
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Report Date : |
29.12.2011 |
IDENTIFICATION DETAILS
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Name : |
SONELA LTD. |
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Registered Office : |
6 Hanagar Street*, Industrial Zone, Kfar Saba 44425 |
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Country : |
Israel |
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Date of Incorporation : |
17.04.1994 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject were
importers and marketers of clothes |
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No. of Employees
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8 |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not recommended |
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Status : |
Presumed to be inactive |
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Payment
Behaviour : |
Unknown |
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Litigation : |
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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) |
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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
SONELA LTD.
Telephone* 972 9 768 76 71
Fax* 972 9 768 76 23
6 Hanagar Street*
Industrial Zone
KFAR SABA 44425 ISRAEL
*Note: A/m address details could not
be confirmed (for reasons detailed below).
HISTORY & LEGAL FORMATION
A private limited
company, incorporated as per file No. 51-196160-9 on the 17.04.1994.
Note: Although
subject’s registered Latin name in the Registrar of Companies is “SONALE”, we
are informed by subject’s General Manager that it is a spelling mistake and the
actual spelling is “SONELA”.
Based on our
checks, it is possible that subject is ceased activities, presumably due to
financial difficulties, and is currently inactive. Since we could
not contact subject's officials, we could not confirm that.
Note: According to the Registrar of Companies, subject status is registered as
"Active" (which not necessarily reflects the actual status).
SHARE CAPITAL
Authorized share
capital NIS 23,800.00, divided into:
20 management shares (8
shares issued),
23,780 ordinary shares (192
shares issued), all of NIS 1.00 each,
of which shares
amounting to NIS 200.00 were issued.
SHAREHOLDERS
Subject
is fully owned by Ofir Ben-Aharon.
SOLE DIRECTOR
Ofir Ben-Aharon
(has been subject's General Manager while active).
BUSINESS
As noted above, it
may be that subject is inactive.
While active, were
operating as importers and marketers of clothes.
According to our,
subject's main clients are local largest supermarket/retail chain stores BLUE
SQUARE and SHUFERSAL, as well as clothing chain stores HANGER, RESHET BIGUD.
All of subject
suppliers are foreign. Imports are from India and China.
Were operating
from rented premises (office and warehouse), on an area of 370 sq.
meters, in 6 Hanagar Street, Industrial Zone, Kfar Saba (which is subject's
registered address), and from an office at the private residence of Ofir
Ben-Aharon, in 7 Nordau Street, Ramat Hasharon.
We were unable to
contact anyone from subject's officials in order to confirm a/m address details. We called
subject's telephone number in caption, and received no answer (no voice mail
response). We received a 'not available' message from subject's General
Manager's cell phone (972 50 540 10 00). No other telephone numbers on subject
or its owner's names were traced.
Had 8 employees in
the end of 2010, current number not forthcoming.
MEANS
Financial data not
forthcoming, though based on our findings subject appears to be financially
distressed.
There are 9
charges for unlimited amounts registered on the company's assets (financial
assets and vehicles), in favor of Mizrahi Tefahot Bank Ltd., Bank Otsar Hahayal
Ltd. and leasing companies (last 2 charges placed March 2011 on financial
assets).
SALES
Sales data as
previously given by subject's General Manager:
· 2006 sales claimed to be NIS 5,000,000.
· 2007 sales claimed to be NIS 5,000,000.
· 2008 sales claimed to be NIS 6,000,000.
· 2009 sales claimed to be NIS 8,000,000.
· 2010 projected sales were NIS 8,000,000.
Consolidated 2009
sales for subject and sister SONELA IMPORT & MARKETING claimed to be NIS
15,000,000.
OTHER COMPANIES
SONELA IMPORT
& MARKETING 2006 LTD., 100% owned by Ofir Ben Aharon, were operating in
same line of business as subject of cheaper lines of cloths.
BABY COMFORT LTD., non-active.
BANKERS
Mizrahi Tefahot Bank
Ltd., Ramat Hasharon Branch (No. 472), Ramat Hasharon, account No. 263717.
According to the
Central Banks' database subject’s above mentioned account is restricted between
18.12.2011 until 18.12.2012 (which means that 10 or more of subject’s checks bounced
back).
Sister company
SONELA IMPORT AND MARKETING 2006 LTD. bank accounts (in Bank Hapoalim Ltd., Ramat Hasharon Branch (No. 630), Ramat Hasharon,
account No. 496671, and Mercantile Discount Bank Ltd., Ramat Hasharon Branch
(No. 733), Ramat Hasharon, account No. 11677) are not restricted
CHARACTER AND REPUTATION
As noted above, we
doubt if subject is presently active at all.
During our past
interviews with subject’s General Manager Ofir Ben Aharon along the years he
provided us with some data, which sometimes we estimated to be a bit
exaggerated (such as number of employees, which in our interview in mid 2010,
he claimed to have 14 employees in subject and sister company, and we can not
explain the gap with the current number -7- which he gave).
No other
detrimental data traced on subject besides the above (such as bankruptcy,
etc.).
SUMMARY
Dealings, if any,
are recommended on cash in advanced basis only!
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.53.21 |
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UK Pound |
1 |
Rs.83.32 |
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Euro |
1 |
Rs.69.51 |
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.