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MIRA INFORM REPORT
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Report Date : |
30.12.2011 |
IDENTIFICATION DETAILS
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Name : |
SHAI MECHER TRADING (1996) LTD. |
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Registered Office : |
P.O. Box 3075, 7 Baraket Street, Northern
Industrial Zone, Caesarea 30889 |
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Country : |
Israel |
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Date of Incorporation : |
10.11.1996 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of clothes, specializing in undergarments. |
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No. of Employees
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25 |
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$ 30,000. |
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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
SHAI MECHER TRADING (1996) LTD.
Telephone 972
4 637 92 25
Fax 972
4 637 92 26
P.O. Box 3075
7 Baraket Street
Northern Industrial Zone
CAESAREA-30889-ISRAEL
HISTORY & LEGAL FORMATION
A private limited company,
incorporated as per file No. 51-239377-8 on the 10.11.1996.
Subject was
incorporated in order to continue the activities of SHAI MECKER LTD.
(established in 1990), which became non-active following a change in ownership.
SHARE
CAPITAL
Authorized share capital NIS 29,400.00, divided into-
29,400 ordinary shares
of NIS 1.00 each,
of which 1,651 shares amounting to NIS 1,651.00 were issued.
SHAREHOLDERS
1. ROSENTHAL
GILAD HOLDINGS LTD., 46.8%, owned by Gilad Rosenthal,
2. Rose
Guetta, 23.4%,
3. Ms. Ariela
Ester Guetta, 11.7%,
4. Ms. Sharon
Carmela Guetta, 11.7%,
5. Sami Weiss,
6.4%.
DIRECTOR
1. Gilad
Rosenthal, General Manager,
2. Ms. Ariela
Ester Guetta.
BUSINESS
Importers and marketers of clothes, specializing in undergarments.
All purchase is import.
Among clientele: SHUFERSAL, MEGA (latter two are the local largest
supermarket chains), HAMASHBIR LATZARCHAN (local largest department store
chain), SELECTION FASHION WAREHOUSES, HANGER, SAKAL GROUP, etc.
Operating from rented premises, on an area of 2,300 sq. meters, in 7
Bareket Street, Northern Industrial Zone, Caesarea, and from a retail store, in
21 Mizrahi Street, Tel Aviv.
Having 25 employees (same as in 2010, had 20 employees in 2009).
MEANS
Financial details not forthcoming.
There are 8 charges for unlimited amounts registered on the company’s
assets (financial assets and vehicle), in favor of Mizrahi Tefahot
Bank Ltd. and The First International Bank of Israel Ltd.
(last charge placed in September 2008).
SALES
Annual sales claimed to be several Ten's NIS millions, exact figures not
disclosed.
BANKERS
The First International Bank of Israel Ltd., Kiryat Bialik Branch (No.
008), Kiryat Bialik, account No. 387568.
Mizrahi Tefahot
Bank Ltd., Kenyon Orot Branch (No. 438), Or Akiva,
account No. 118084.
A check with the Central Banks' database did not reveal any negative
information regarding subject's a/m accounts.
CHARACTER
AND REPUTATION
In August 2008 The Patents,
Designs and Trademarks Office ruled that subject violated the rights of
NIKE Inc. by using a brand name "Hike", and ordered to erase it from
the trade mark registry. The matter reached the Courts and in principle it was
established that the use of the “Hike” logo is problematic. However, there were
some procedural counter allegations and eventually subject was advised by the
Judge to add a distinctive mark jointly with the brand name so it can continue
to use “Hike” without violation.
Apart from that,
nothing unfavorable learned.
Subject’s officials
refused to disclose financial details.
The
local textile and fashion market is valued at NIS 7.5 billion per annum, NIS 6
billion of which is attributed to the fashion branch.
Import of Clothing and Footwear in 2011 first 8 months kept rising from
2010: import rose by over 18%, after rising 13.4% in 2010 from 2009, summing up
to US$ 1,437 million (in 2009 the local market experienced a slow-down). Most
import comes from China. Main other countries of origin for textile goods are
France, Italy, Hong Kong and Turkey, Spain and the U.S.A.
The local fashion
market was suffering from slow-down during 2009, and the trend continued into
2010, although in a less extent. According to a
local retail research company, retail fashion chains witnessed in
According
to the Central Bureau of Statistics (CBS), the current expenditure for private
consumption in 2010 for clothing, footwear and personal items fell by 5.1% from
2009, continuing the decreasing trend in 2009, though in an higher magnitude
(in 2009 it fell marginally (0.7%) from 2008, after rising 4.1% from 2007).
This happened in contrast to the general trend in the local market in 2010,
where expenditure level for private consumption actually increased.
According
to surveys, average spending per houshold on clothing & footwear in 2008
reached NIS 483 per month and fell to around NIS 455 per month in 2009 (similar
level as 2007).
SUMMARY
Notwithstanding the
refusal to disclose financial details, considered good for trade engagements.
Maximum unsecured
credit recommended US$ 30,000.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.36 |
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UK Pound |
1 |
Rs.82.51 |
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Euro |
1 |
Rs.68.99 |
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.