MIRA INFORM REPORT

Report Date :

14.07.2011

IDENTIFICATION DETAILS

Name :	HAMAMA HAIM & IGAL MARKETING & TRADE LTD.

Registered Office :	48 Menachem Begin Rd., Aviv Towers, Tel Aviv 66880

Country :	Israel

Date of Incorporation :	11.02.1998

Legal Form :	Private Limited Company

Line of Business :	Importers and marketers of foodstuff, mainly legumes, dry fruit, etc.

RATING & COMMENTS

MIRA’s Rating :

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 :	No Complaints
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 – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Israel

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name & address

HAMAMA HAIM & IGAL MARKETING & TRADE LTD.

Telephone 972 3 688 79 04

Fax 972 3 537 91 88

48 Menachem Begin Rd.

Aviv Towers

TEL AVIV 66880 ISRAEL

HISTORY & LEGAL FORMATION

A private limited company, incorporated as per file No. 51-259889-7 on the 11.02.1998.

SHARE CAPITAL

Authorized share capital NIS 35,700.00, divided into -

35,700 ordinary shares of NIS 1.00 each,

of which 100 shares amounting to NIS 100.00 were issued.

SHAREHOLDERS

1. Haim Hamama, 50%,

2. Igal Hamama, 50%.

DIRECTORS & JOINT GENERAL MANAGERS

1. Haim Hamama,

2. Igal Hamama.

BUSINESS

Importers and marketers of foodstuff, mainly legumes, dry fruit, etc.

Among customers are Tehina plants (tehina is a Middle-Eastern sesame-made paste).

All purchasing is from import.

Operating from rented offices, on an area of 70 sq. meters, in 48 Menachem Begin Rd., Aviv Towers, Tel Aviv, and from rented bonded warehouses near the Ashdod Port.

Shareholders are the only employees. Had 4 employees in mid 2008.

MEANS

Financial data not forthcoming.

There are 2 charges for unlimited amounts registered on the company's assets (financial assets), in favor of The First International Bank of Israel Ltd.

ANNUAL SALES

Sales figures not forthcoming.

BANKERS

The First International Bank of Israel Ltd., Migdal Shalom Branch (No. 067), Tel Aviv.

CHARACTER AND REPUTATION

In June 2008, Co-General Manager, Haim Hamama commented that they are working on a lower volume than before and activity contracted in money terms, mentioning it is concerning the high prices of commodities. He told us they are buying less than before, and after that refused to elaborate any further.

In our current research, we did not find anything detrimental concerning subject.

Co-General Manager, Igal Hamama refused to disclose financial and clientele details.

Prior to establishing subject, subject's shareholders worked for many years in HAMAMA BROS., among the leading dry dealers in the foodstuff trade area in Israel, in which there father hold shares.

Subject has been considered as large suppliers in their field of raw materials to the local food industry.

SUMMARY

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

Maximum unsecured credit recommended US$ 20,000.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.59
UK Pound	1	Rs.71.07
Euro	1	Rs.62.40

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.