MIRA
INFORM REPORT
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Report Date : |
13.06.2011 |
IDENTIFICATION DETAILS
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Name : |
GERSHON SPICES LTD. |
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Registered Office : |
P.O Box 1358, Rehovot Industrial Zone Kanot 76112 |
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Country : |
Israel |
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Date of Incorporation : |
09.07.1995 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of spices and rice. |
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$ 80,000. |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Israel |
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
GERSHON SPICES LTD.
Telephone 972 8 868 02 44
Fax 972
8 936 25 24
P.O Box 1358, Rehovot
Industrial Zone
KANOT 76112 ISRAEL
HISTORY & LEGAL FORMATION
A private limited company, incorporated as per file No. 51-217430-1 on the
09.07.1995.
SHARE
CAPITAL
Authorized share capital NIS 23,500.00, divided into –
23,500 ordinary
shares of NIS 1.00 each,
of which 100 shares amounting to NIS 100.00 were issued.
SHAREHOLDERS
1. David Gershon, 51%,
2. Ms. Shirly Gershon, 49%.
There are no listed directors according to
the Registrar of Companies.
GENERAL
MANAGER
David Gershon.
BUSINESS
Importers and marketers of spices and rice.
All sales are local.
All of subject suppliers are foreign, mainly from India and China.
Operating from rented premises, on an area of 500 sq. meters, in the Kanot
Industrial Zone, east of Ashdod.
Having 8 employees.
MEANS
Current stock is valued at NIS 1,000,000.
Other financial data not forthcoming.
There are 7 charges for unlimited amounts
registered on the company’s assets (financial assets and vehicles), in favor of
Bank
Hapoalim Ltd., Union Bank of Israel Ltd. and The First International Bank of
Israel Ltd. (last charge placed in June 2009).
ANNUAL
SALES
2009 sales claimed to be NIS 15,000,000.
2010 sales claimed to be NIS 16,000,000.
2011 sales said to be at the same pace as in 2010.
BANKERS
The First International Bank of Israel Ltd., Rehovot Branch (No. 029),
Rehovot.
Union Bank of Israel Ltd., Rehovot Branch (No. 093), Rehovot.
Bank Hapoalim
Ltd., Rehovot Branch (No. 615), Rehovot.
CHARACTER
AND REPUTATION
Nothing unfavorable learnt.
The local market for current consumption of consumer products grew in
According to Central Bureau of Statistics (CBS) data, import of food and beverages to Israel in 2009 decreased by 9.4% comparing
to 2008, but recovered and rose by 15.5% in 2010, reaching US$ 1,986.5 million.
A further improvement has been noted in 2011 first quarter, where import of
food & beverages rose 21% comparing to 2010 1stQ, summing up to US$ 827.7
million.
CBS data shows
that imports of raw food products to Israel in 2010 summed
up to US$ 1,673 million, 23% increase from 2009, after in that year there was a
20% decrease from 2008, due to the slow-down trend in local economy. Over 50%
of import is from the EU. The trend continued in the 1st quarter of
2011 –24% rise (compared with 20101stQ), totaling US$ 643.6 million.
According
to the CBS, the total household expenditure for private consumption in 2010 on
food, beverage and cigarettes rose 4.5% from 2009, reflecting an improvement
comparing to 2009, part of the recovery trend in the loacl market after the
general slow-down in economy earlier last year.
SUMMARY
Good for trade engagements.
Maximum unsecured credit recommended US$ 80,000.
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.72.93 |
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Euro |
1 |
Rs.64.72 |
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.