MIRA INFORM REPORT
|
Report Date : |
08.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
EMANUEL WALLETS LTD. |
|
|
|
|
Formerly Known As : |
EMANUEL WALLETS |
|
|
|
|
Registered Office : |
18 Hametzuda Street, Azor 58001 |
|
|
|
|
Country : |
Israel |
|
|
|
|
Year of Establishment : |
1978 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importers, Manufacturers,
Exporters and Marketers of leather wallets, bags, valises, and leather
advertising items. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 75,000. |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment
Behaviour : |
Usually Correct |
|
|
|
|
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) |
|
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
EMANUEL WALLETS
LTD.
Telephone 972 3 558 34 44
Fax 972 3 558 42 22
18 Hametzuda Street
AZOR 58001 ISRAEL
HISTORY & LEGAL FORMATION
Originally established as a non-registered business
in 1978, under the name “EMANUEL WALLETS”.
Converted into a private limited company
registered as such as per file No. 51-152185-8 on the 05.12.1990.
SHARE CAPITAL
Authorized share capital NIS 15,100.00,
divided into -
15,100
ordinary shares of NIS 1.00 each,
of which 100 shares amounting to NIS 100.00,
were issued.
SHARE HOLDERS
1. Emanuel Greenspan, 99%,
2. Mrs. Rika Greenspan, wife of Emanuel
Greenspan, 1%.
SOLE DIRECTOR AND GENERAL MANAGER
Emanuel Greenspan.
BUSINESS
Importers, manufacturers,
exporters and marketers of leather wallets, bags, valises, and leather
advertising items.
Also operating a
retail chain store under the name “Emanuel Wallets”, with 6 branches, all owned
by subject (had 5 branches in early 2010).
Manufacturing is
both abroad (sub-contractors) and in Israel.
Beside subject's
retail stores, also selling to some 180 points of sale.
Operating under
brand name "Emanuel" and "Neta Sadde".
.
Among clients:
BANK LEUMI LE'ISRAEL, ISRAEL DISCOUNT BANK, ISRACARD, and more.
Operating from
rented premises (office, warehouse and showroom), on an area of 700 sq. meters,
in 18 Hametzuda Street, Azor, and from 6 store branches.
Having 40
employees (had 35 employees in the beginning of 2010).
MEANS
Financial data not
forthcoming.
There are 9
charges for unlimited amounts, as well as 1 charge for the sum of NIS
109,000.00 registered on the company’s assets (financial and fixed assets), in
favor of Bank Hapoalim Ltd. and Israel Discount Bank Ltd. (last charge placed
in April 2010).
SALES
Sales figures not
forthcoming.
According to a
media report from 2007 annual sales were NIS 18,000,000.
BANKERS
Bank Hapoalim
Ltd., Holon Business Branch (No. 522), Holon, account No. 424601.
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 details.
Subject is a long established business.
In August 2005 it was reported that subject
invested NIS1 million in its new logistic center in Azor.
In July 2007 it was reported that subject
sold wallets and bags to fashion stores in Rodeo Drive in Los Angeles, and also
to Australia, Switzerland and Holland.
In April 2009 it was reported that subject
opened its premium branch in Tel Aviv, investing NIS 500,000.
SUMMARY
Notwithstanding the refusal to disclose
financial details, considered good for trade engagements.
Maximum unsecured credit recommended US$
75,000.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.42 |
|
UK Pound |
1 |
Rs.70.95 |
|
Euro |
1 |
Rs.63.63 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.