MIRA INFORM REPORT
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Report Date : |
23.02.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
TOAM IMPORT & EXPORT AGRICULTURAL
COOPERATIVE SOCIETY LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
01.01.2000 |
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Legal Form : |
An Agricultural Cooperative Society |
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Line of Business : |
Importers and exporters
of Equipment, Industrial Raw Materials |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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
TOAM IMPORT & EXPORT AGRICULTURAL COOPERATIVE SOCIETY LTD.
(Trading as TOAM IMPORT & EXPORT)
Telephone 972 3 623 35 00
Fax 972 3 623 35 01/ 2/ 3
E-mail toam@toam.co.il
TEL AVIV-67898-ISRAEL
HISTORY & LEGAL FORMATION
An Agricultural
Cooperative Society (ACS), registered as per file No. 57-003635-0 on the
01.01.2000.
The new
incorporated company has taken upon itself all the business activities and
obligations of TOAM SUPPLY & IMPORT (a general partnership established on
the 18.5.1975, Registration No. 54-011368-5).
In addition,
subject assumed all activities of TOAM EXPORTS LTD., which ceased operations at
the end of 1999.
OWNERSHIP
1.
MISHKEI HATAKAM – CENTRAL AGRICULTURAL
CO-OPERATIVE SOCIETY LTD., 50%,
2.
ORGANIZATION OF MISHKEI HATAKAM INPUTS
AGRICULTURAL CO-OPERATIVE SOCIETY LTD., 50%.
Both represent Kibbutzim
affiliated to the United Kibbutz Movement (“MISHKAY HATAKAM”).
"Kibbutzim" (or “Kibbutz” in singular) are cooperative societies,
operating communal agricultural settlements, and are spread all over the
country.
MISHKAY HATAKAM is owned by 270 Kibbutzim (each has hundreds members).
DIRECTORS
1. Akiva Polack, Chairman,
2. Dr. Ilan Tesler, General
Manager,
3. Ms. Vered Reichman,
4. Moshe Marom,
5. Shaul Askenazi,
6. Yonatan Melamed.
And several others.
BUSINESS
Importers and exporters
of equipment, industrial raw materials and other supplies, acting on behalf of
agricultural communal settlements (which own approximately 300 plants and
factories), members affiliated to the United Kibbutz Movement and the Kibbutz
Ha’artzi Movement (Kibbutz National Movement).
Mostly handling
import activities.
Goods are ordered
by the company on behalf of the plants of the “kibbutzim” and sent by the
suppliers directly to customers.
Subject also
handles the importing procedures on behalf of its clients, as well as providing
them with credits.
Amongst subject’s
suppliers: EL AL AIRLINES, C.A.L, ZIM INTEGRATED SHIPPING SERVICES (
Subject serves
some 185 kibbutz plants nationwide, as well as other private companies (usually
ones with former kibbutz affiliation).
Among plants
served: NAOT FOOTWEAR, ORAN PALMAH TZOVA, ASHALIM AGENCIES, TIVALL, KAFRIT
INDUSTRIES, LINERO, NETAFIM, AL-BAAD MASSUOT YITZHAK, PALTECHNICA NITZANIM,
CABIRAN, PLASSON, PLASTRO IRRIGATION, MAYTRONICS, EREZ THERMOPLASTIC
PROD
Operating from
rented office premises, on an area of 550 sq. meters, in
Having 30
employees (same as 2009, had 26 employees at the end of 2007).
MEANS
Financial data not forthcoming, however known to be financially solid.
Subject holds no stocks.
ANNUAL SALES
The scope of
import, export and general activities conducted by means of the cooperative
(subject) in 2006 were US$ 532,000,000.
The scope of import,
export and general activities conducted by means of the cooperative (subject)
in 2007 were US$ 550,000,000.
The scope of
import, export and general activities conducted by means of the cooperative
(subject) in 2008 were US$ 600,000,000.
The scope of
import, export and general activities conducted by means of the cooperative
(subject) in 2009 were US$ 600,000,000.
The scope of
import, export and general activities conducted by means of the cooperative
(subject) in 2010 were US$ 650,000,000.
OTHER COMPANIES
TOAM IMPORT & EXPORT CO. (1992)
LTD., non-active.
BANKERS
· Bank Hapoalim Ltd., Business Central Branch (No. 600), Tel Aviv.
· Bank Leumi Le’Israel Ltd., Tel Aviv Central Branch (No. 800), Tel Aviv.
· First International Bank of Israel Ltd., Main Branch (No. 046), Tel Aviv.
·
Mizrahi Tefahot Bank Ltd.,
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
Subject's
officials refused to disclose financial data, besides turnover volumes.
There are some 300 Kibbutz industrial plants in the country in some 270
kibbutzim.
Subject is the
import arm of the United Kibbutz Movement.
According to the
Kibbutz Industries Union, 2009 income by the Kibbutz Industries totaled
Income by Kibbutz
industrial plants only summed up in 2009 to
SUMMARY
Good
for trade engagements.
Maximum unsecured credit recommended up to several US$ millions.
NOTE: In the address you gave you refer to SION
BIOTEXT MEDICAL LTD., which is a Private Limited
Company, owned by several
shareholders, on of which being Kibbutz Misgav Am (45%), operating from Kibbutz
Misgav Am in the north of the country. Operate as manufacturers, exporters and
marketers of disposable surgical and medical inputs. SION BIOTEX MEDICAL is one
of subject’s clients.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.20 |
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1 |
Rs.73.07 |
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Euro |
1 |
Rs.61.41 |
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.