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MIRA INFORM REPORT
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Report Date : |
07.03.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
MATON STEEL INDUSTRIES (1972) LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
24.11.1974 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufactures and marketers of working tools |
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$ 50,000. |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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
MATON
STEEL INDUSTRIES (1972) LTD.
Telephone 972
3 558 62 88
Fax 972
3 558 62 91
Industrial Zone
HOLON-58856-ISRAEL
HISTORY & LEGAL FORMATION
A private limited company, incorporated as
per file No. 51-063030-4 on the 24.11.1974.
Subject assumed the activities of MAT ON
LTD., established in April 1958, which was liquidated.
SHARE CAPITAL
Authorized share capital
1,009,999
ordinary "A" shares of
1,009,999
ordinary "B" shares of
1
special share of
of which shares amounting to
SHAREHOLDERS
1. Paul Schwimmer, main shareholder,
2. Ms. Enrica Schwimmer.
Note: According to the
Registrar of Companies, the Late Natan Schwimmer (father of Paul, and husband
of Enrica) is still registered as a shareholder. We were informed that the shares
were divided between a/m shareholders.
DIRECTORS
1. Paul Schwimmer, General Manager,
2. Ms. Enrica Schwimmer (mother of Paul).
BUSINESS
Manufactures and marketers of working tools.
Also traders, importers and marketers of
metals.
Sales are mainly to small businesses and
private individuals.
Among larger clientele: NORDIA SPRINGS,
ISRAERL MILITARY INDUSTRIES.
Operating from rented premises, on an area
of 1,800 sq. meters, in
Having 10 employees.
MEANS
Financial data not forthcoming.
There are no charges registered on the company's assets.
ANNUAL SALES
Sales figures not forthcoming.
BANKERS
Bank Leumi Le'Israel Ltd., Kikar Hamoshavot
Branch (No. 810), Tel Aviv.
CHARACTER AND REPUTATION
Nothing unfavorable learned.
Subject's General Manager refused to
disclose financial data.
Subject is a very veteran business.
According
to the Central Bureau of Statistics (CBS), import of metals raw
materials to the local industries in 2010 showed an increasing trend, after a
contraction in
According
to the Chairman of the Metal and Electricity sectors at the Manufacturers’
Association, sales of the various metal and electricity related industrial
sectors fell by 20% in 2009 (from 2008, when sales reached NIS 70 billion) due
to the significant slow-down in the local economy, affected by the global financial
and economic crisis.
The above
industries contracting trend was evident in 2008 after the long and significant
growth trend since 2004 (in 2007 the sectors’
overall sales reached a climex of
CBS
data on capital formation (investment) in imported machinery and other
equipment for the manufacturing industry in 2009 (comparing to 2008):
investments in the manufacture of metal products was NIS 900 million (31% down)
(rose 22% in 2008 from 2007); investments in the manufacture of basic metal
products was NIS 135 million, 48% down from 2007 (45% rise in 2007 from 2006).
SUMMARY
Notwithstanding the refusal to disclose
financial details, considered good for trade engagements.
Maximum unsecured credit recommended US$
50,000.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.99 |
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1 |
Rs.73.24 |
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Euro |
1 |
Rs.62.80 |
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.