MIRA
INFORM REPORT
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Report Date : |
17.02.2011 |
IDENTIFICATION DETAILS
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Name : |
ZIMBRIS
STONE LTD. |
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Formerly Known As : |
YOSSI ZIMBRIS LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
23.08.2005. |
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Com. Reg. No.: |
51-372483-1 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of stones (marble, granite, ceramics, etc.). |
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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Maximum Credit Limit : |
US$ 35,000. |
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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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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 and address
ZIMBRIS STONE LTD.
Telephone 972 9 866 66 82
Mobile 972
54 568 82 25
Fax 972
9 866 51 61
P.O. Box 1106, 10 Kohav Hayam Street, MICHMORET 40297 ISRAEL
HISTORY & LEGAL FORMATION
A private limited company,
incorporated as per file No. 51-372483-1 on the 23.08.2005.
Originally registered under the name YOSSI ZIMBRIS LTD., which changed to the present
name on the 31.07.2006.
SHARE
CAPITAL
Authorized share capital NIS
39,100.00, divided into-
39,000
ordinary shares of NIS 1.00 each (issued),
10
management shares of NIS 10.00 each, of which shares amounting to NIS 39,000.00
were issued.
SHAREHOLDERS
Subject is fully owned by Yossi
Zimbris.
SOLE
DIRECTOR AND GENERAL MANAGER
Yossi Zimbris
BUSINESS
Importers and marketers of stones (marble, granite, ceramics, etc.).
Amongst clients are building
contractors (e.g. U. DORICONSTR
All purchases are imported.
Exclusively represents locally SANTA MARGHERITA,
FLORIM, both of Italy.
Operating from an office at the residence
of the shareholder (owned by him), in 10
Kohav Hayam Street, Michmoret.
Having 3 employees (had no employees
in 2009).
MEANS
Holding no stock, work is based upon
orders.
The house of Yossi Zimbris, which he
owns, was valued at US$ 1,000,000 several years ago (we assume value rose).
Other financial data not
forthcoming.
There are no charges registered on
the company’s assets.
ANNUAL
SALES
2006 sales claimed to be NIS 4,000,000.
2007 sales claimed to be NIS 5,000,000.
2008 sales claimed to be NIS 5,700,000.
2009 sales claimed to be NIS 5,000,000.
2010 sales claimed to be NIS 5,000,000.
BANKERS
Bank Hapoalim Ltd., Netanya Branch
(No. 612), Netanya, account No. 399889.
A check with the Central Banks’ database
did not reveal negative information on subject’s above mentioned account.
CHARACTER
AND REPUTATION
Nothing unfavorable learnt.
Prior to establishing subject, the
owner, Yossi Zimbris, used to be in a senior position in ALONY MARBLE Group, among
the local leading companies in the fields of stone and marble, ceramics,
sanitary ware and inputs to the building sector. He worked in ALONY for 26
years.
There are some 250 importers of
ceramics and granite porcelain operating in Israel, and the branch is highly
competitive.
In 2009 some 28% of imported ceramic
and porcelain goods were from China (rate keeps growing in recent years), as
well as relatively high portion from Turkey, on account of the traditional
suppliers from Italy and Spain.
Despite the fears, in overall, the construction branch was
hit less than other branches from the slow-down in local economy in late 2008
into the first half of 2009. Total number of transaction in the building sector
in 2009 finished with 8% rise from 2008 and up 12% in new apartment deals (most
deals are in 2nd-hand apartments).
In the last couple of years gross domestic investment in
building and other construction works was stagnant, after in 2006 and 2007 it
rose by 10.2% and 5.1% from the previous year, respectively. In 2009,
investments indicators were mixed, reflecting the general slow-down in 2009 1st
half, and showed a recovery later in the building and real estate market
activity, continuing into 2010 1st half. Gross domestic investment
in building and other construction works increased in 2009 by mere 0.5% from
2008. Total investment in fixed assets (excl. ships and airplanes) fell 6.1% in
2009 from 2008, and rose by 8.5% in 1stH-
Volume of building starts for dwelling during 2009 totaled
32,150 new apartments, 0.5% higher than 2008 and similar level to previous
years. However, prices in recent years kept rising due to the shortage in
supply of new apartments (rate of additional household in Israel stands on
39,000 per annum), while demand keep rising (this relates to a structural fault
in the allocation of plots in State hands).
SUMMARY
Good for trade engagements.
Maximum unsecured credit recommended
US$ 35,000.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.45 |
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1 |
Rs.72.90 |
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Euro |
1 |
Rs.61.43 |
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.