MIRA
INFORM REPORT
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Report Date : |
01.07.2011 |
IDENTIFICATION DETAILS
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Name : |
APOLLO TOOLS LTD. |
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Registered Office : |
P.O. Box 235 Meshek No. 73 Mazor 73160 |
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Country : |
Israel |
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Date of Incorporation : |
24.01.1995 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of working & building tools and accessories |
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$ 40,000 |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Israel
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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 |
Name and address
APOLLO TOOLS LTD.
Telephone 972 3 933 83 29
Fax 972 3 908 80 31
P.O. Box 235
Meshek No. 73
MAZOR 73160-ISRAEL
HISTORY & LEGAL FORMATION
A private limited company,
incorporated as per file No. 51-209785-8 on the 24.01.1995.
SHARE CAPITAL
Authorized share
capital of NIS 27,100.00, divided into:
27,100 ordinary shares of NIS
1.00 each,
of which 100
shares amounting to NIS 100.00 were issued.
SHAREHOLDERS
1. Zion David Hai, 99%,
2. Mrs. Miriam David Hai, 1%.
SOLE DIRECTOR & GENERAL
MANAGER
Zion David Hai
BUSINESS
Importers and
marketers of working & building tools and accessories. Sales are under the
imported international brands and own label "Magnum".
Also importers and
marketers of ceramics, sanitary ware, parquet flooring.
Sole local
importers and representatives of (among others):
FUJI POWER TOOLS
(tools), of Japan
KANGAROO (tools),
of Australia
FIRST TOOLS IND.
(SMIPO), of Taiwan
SOGUT (ceramics),
ELKAY (adhesives), FLOORPAN (parquets), all of Turkey
Operating from
rented premises, on an area of 3,000 sq. meters, in Meshek No. 73
("Meshek" is "Farm" in Hebrew), Mazor Village (“Moshav
Mazor”, where “moshav” is a local typical village or settlement, in particular
a type of cooperative agricultural community of individual farms), situated
south of Petach Tikva.
Having 12
employees.
MEANS
Financial data not
forthcoming.
There are 13 charges
for unlimited amounts registered on the company's assets (financial assets and
vehicles), in favor of The First International Bank of Israel Ltd., Bank Leumi Le'Israel Ltd. and leasing companies
REVENUES
Sales figures not
forthcoming.
BANKERS
The First
International Bank of Israel Ltd., Kiryat Hamelacha Branch (No. 055), Tel
Aviv.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
Subject's General
Manager refused to disclose financial data.
The
recovery trend (mainly in local economy, though also in world markets) since
2009 2nd half positively affected the levels of investments in the
import of machinery and equipment during 2010. According to the Central Bureau of
Statistics, import of machinery and equipment (investment goods, excl. ships
& aircrafts) rose by 7.6% in 2010 comparing to 2009, after 26% fall in 2009
from 2008 (when it rose by 10% from 2007).
The general improvement in local economy in 2010 has been felt in the
building sector. After falling 6.1% in 2009 from 2008, total investment in
fixed assets (excl. ships and airplanes) in the local market rose by 18% in
2010. Investment in construction for dwelling rose by 4.1% in 2009 and by 13.8%
in
Consumption expenditure of households in 2010 on Housing and on Housing
Equipment grew by 2.5% and by 7.5%, respectively, in annual calculation.
SUMMARY
Notwithstanding
the refusal to disclose financial data, considered good for trade engagements.
Good for maximum
unsecured credit of US$ 40,000.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.72 |
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1 |
Rs.71.95 |
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Euro |
1 |
Rs.64.79 |
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.