MIRA INFORM
REPORT
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Report Date : |
24.01.2011 |
IDENTIFICATION DETAILS
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Name : |
YES PHARMA LTD. |
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Registered Office : |
Sofri House No.
33, Har Tov A Industrial Zone, Mateh Yehuda Council 99100 |
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Country : |
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Date of Incorporation : |
17.01.2005 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Agencies in the
field of raw materials for the pharmaceutical branch |
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$ 120,000. |
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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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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
YES PHARMA LTD.
Telephone 972 2 992 99 33
Fax 972 2 992 99 55
Sofri House No. 33
Har Tov A Industrial Zone
MATEH YEHUDA
COUNCIL-99100-ISRAEL
HISTORY & LEGAL FORMATION
A private limited
company, incorporated as per file No. 51-363979-9 on the 17.01.2005.
SHARE CAPITAL
Authorized share
capital
1,000,000 ordinary shares of
of which 10,000
shares amounting to
SHAREHOLDERS
Subject is fully
owned by Gideon Schurder.
SOLE DIRECTOR & GENERAL MANAGER
Gideon
Schurder, born in 1976.
BUSINESS
Agencies in the
field of raw materials for the pharmaceutical branch.
Also international
traders in raw materials for the pharmaceutical field.
Local sales are
via sister company YES PHARMA ISRAEL 2008 LTD.
All sales are on a
commission basis.
80% of sales are
export.
All of subject’s
suppliers are foreign.
Among customers:
TEVA PHARMACEUTICAL INDUSTRIES, DEXCEL, TARO PHARMACEUTICAL INDUSTRIES, PERRIGO
Sole local agents
of:
·
CIPLA, NICHOLAS PIRAML, INDSWIFT, RANDEXY,
BENZOCHEM, all of
·
STEROID, of
·
INTERQUIM, CRYSTAL PHARMA, both of
Operating from
rented premises, on an area of 160 sq. meters, in Sofri House No. 33, Har Tov A
Industrial Zone, situated under the jurisdiction of Mateh Yehuda Regional
Council, near Beit Shemesh (postal office box is in Beit Shemesh town).
Having 14
employees serving subject and sister company (had 13 employees in 2009).
MEANS
Holding no stocks,
work is based on orders.
Financial data not
forthcoming.
There are 3 charges for unlimited amounts as
well as 1 charge for the sum of US$ 75,000.00registered on the company
financial assets in favor of Bank Hapoalim Ltd.
ANNUAL SALES
Actual sales
derive from commission on sales. Consolidated sales are by subject and sister
company:
2005 consolidated
sales claimed to be US$ 2,500,000, and further
US$ 1,500,000 for
were sales abroad.
2006 consolidated
sales claimed to be US$ 5,750,000, of which 75% were sales abroad.
2007 consolidated
sales claimed to be US$ 4,700,000, of which 80% were sales abroad.
2008 consolidated
sales claimed to be US$ 9,800,000, of which 80% were sales abroad.
2009 consolidated
sales claimed to be US$ 6,000,000, of which 80% were sales abroad.
The first 6 months
of 2010 consolidated sales claimed to be US$ 5,500,000, of which 80% were sales
abroad.
OTHER COMPANIES
YES PHARMA ISRAEL 2008 LTD., fully owned by
Gideon Schurder, marketing subject’s goods in
BANKERS
Bank Hapoalim Ltd., Beit Shemesh Branch
(No.692), Beit Shemesh, account No. 531386.
A check with the Central Banks' database did
not reveal anything detrimental on subject’s a/m account.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
Sales by local
Pharmaceutical Industries have been constantly growing, reaching total sales of
US$ 5,500 million in 2008, of which US$ 4,969.5 million were for export to over
120 countries (in 2008 export rose 37% from 2007). Products included drugs, raw
materials for medicine production, veterinary medication. Sales for export
account for US$ 5 billion.
Exports of
pharmaceuticals in 2009 fell by 6.7% from 2008, with sales for export of US$
4,636.1 million. However, in the 1st quarter of 2010 export rate was
10% higher than the parallel period in 2009, with sales for export of US$ 1,270
million.
The Israeli market
for pharmaceuticals was estimated at US$ 1,600 million in 2008, of which US$
1,124 million for human consumption (including from import).
The
non-prescription drugs market in
There are some 13
generic pharmaceutics production companies in
The local
cosmetics market was estimated at annual sales of
Sources in the
branch estimated that the market remain stagnant in 2008 comparing to 2007,
though the expectations for 2009 are for further erosion, mainly of the
luxurious brands, due to the local slow down in economy, influenced by the
global crisis.
SUMMARY
Good for trade
engagements.
Maximum unsecured credit recommended US$ 120,000.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.70 |
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1 |
Rs.72.78 |
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Euro |
1 |
Rs.61.65 |
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 |
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.