MIRA INFORM REPORT

 

 

Report Date :

10.01.2011

 

IDENTIFICATION DETAILS

 

Name :

SEGEV LTD.

 

 

Registered Office :

10 Merchavia Street, Tel Aviv 66106        

 

 

Country :

Israel

 

 

Date of Incorporation :

31.08.1942

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importers and marketers of ropes, strings, flax, etc.

 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

US$ 20,000

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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 

 

SEGEV LTD.

Telephone    972 3 682 12 66

Fax              972 3 681 66 80

10 Merchavia Street

TEL AVIV     66106-ISRAEL

 

 

HISTORY & LEGAL FORMATION

 

A private limited company, incorporated as per file No. 51-001258-6 on the 31.08.1942.

 

 

SHARE CAPITAL

 

Authorized share capital NIS 100.10, divided into -

                 100,100 ordinary shares of NIS 0.001 each,

of which 91,836 shares amounting to NIS 91.836 were issued.

 

 

SHAREHOLDERS

 

1.    Yair Hingali, 50%,

2.    Roni Hingali, 50%,

3.    Ms. Hana Hingali holds 1 single share.

 

 

DIRECTORS

 

1.    Yair Hingali, General Manager,

2.    Roni Hingali.

 

 

BUSINESS

 

Importers and marketers of ropes, strings, flax, etc.

 

Also operating a retail store.

 

All purchase is import.

 

Sales are mostly to wholesalers.

 

Sole local representatives of (among others)

 

CAVALIERI, of Italy.

 

Operating from a key money premises, in 10 Merchavia Street, Tel Aviv, and from rented warehouses in Yagal Village and in Rishon Le-Zion.

 

Having 5 employees (including shareholders).

 

 

MEANS

 

Financial data not forthcoming.

 

There are 2 charges for unlimited amounts registered on the company's assets (vehicles), in favor of Israel Discount Bank Ltd. and Mizrahi Tefahot Bank Ltd.

 

 

ANNUAL SALES

 

Sales figures not forthcoming.

 

 

BANKERS

Israel Discount Bank Ltd., Givatayim Branch (No. 145), Givatayim, account No. 41629.

 

A check with the Central Banks' database did not reveal any negative information regarding subject's a/m account.

 

 

CHARACTER AND REPUTATION

 

Nothing unfavorable learned.

 

Subject's officials refused to disclose financial data.

 

Subject is a very long established family business, with a pool of veteran and reliable costumers.

 

SUMMARY

 

Notwithstanding the refusal to disclose financial data, considered good for trade engagements.

 

Maximum unsecured credit recommended US$ 20,000.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.37

UK Pound

1

Rs.70.38

Euro

1

Rs.58.93

 

 

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.