MIRA INFORM
REPORT
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Report Date : |
03.03.2011 |
IDENTIFICATION DETAILS
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Name : |
VILON CENTER
LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
31.01.2006 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of home textile
products (curtains, rugs, tablecloths, bed ware, pillows, etc.). |
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$ 15,000 |
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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 – 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 |
note:
Name and address
VILON CENTER LTD.
Telephone 972
3 516 47 13
Fax 972
3 510 00 55
TEL AVIV 71704-ISRAEL
HISTORY & LEGAL FORMATION
A private limited company, incorporated as
per file No. 51-379039-4 on the 31.01.2006.
Subject was established to assume all activities of C.B. LIPPMANN LTD.,
established in 1998, owned by subject's shareholder's parents, Benyamin Lippmann and Mrs Cecile Lippmann, which itself took over the
activities of M. LIPPMANN - IMPORT & MARKETING LTD. (originally established
as a non-registered business in 1947, under the name LIPPMANN CURTAINS, and
converted into a private limited company in 1990), which became inactive,
following a change in ownership. C.B. LIPPMANN is inactive as well.
SHARE CAPITAL
Authorized share capital
100,000
ordinary shares of
of which 300 shares amounting to
SHAREHOLDERS
Subject is fully owned by Daniel Lippmann,
son of Benyamin Lippmann.
SOLE DIRECTOR & GENERAL
MANAGER
Oded Lippmann.
BUSINESS
Importers and marketers of home textile
products (curtains, rugs, tablecloths, bed ware, pillows, etc.).
All purchase in from import.
Sales are mainly to many small retail
businesses.
Operating from 2 rented premises, both in
Having 1 employee.
MEANS
Current stock is valued at US$ 150,000.
There is 1 charge for an unlimited amount registered on the company's
assets (general charge on all assets), in favor of Bank Hapoalim Ltd. (charge
placed in June 2006).
ANNUAL SALES
2008 sales claimed to be US$ 1,000,000.
2009 sales claimed to be US$ 1,000,000.
2010 sales claimed to be US$ 1,000,000.
OTHER COMPANIES
C. B. LIPPMANN LTD., non-active.
BANKERS
Bank Hapoalim Ltd, Harimon Branch (No. 500),
Tel Aviv, account No. 315086.
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 is a continuation of a very veteran
business.
The
local textile and fashion market is valued at
The local
household products market is considered highly competitive after reaching
market saturation. It includes household textile, tableware and kitchenware and
utensils, bath accessories and ornaments &decorative items, ceramic and
glass ware, etc. According to estimations, the local household products market
volume reaches NIS 2.5 – 3 billons annually (of which circa NIS 1 billion for
“home textile”), and includes retail, wholesale, institutional markets (Retail
chains capture 30% of the market share, specialization stores 20%, while the
institutional and workers unions sector has 50% share).
According
to the Central Bureau of Statistics (CBS), current spending for private
consumption in 2009 on equipment and items for domestic use decreased by 3.5%
from 2008, after a 2% fall from 2007 (after several years of constant rise).
That was part of the general trend in the market due to the slow down in local
markets, mainly during the 1st half 2009. Local per capita
expenditure on private consumption kept the rising trend from previous years,
yet in a much slower pace – it rose by less than 2% in 2009 from 2008 (when it
rose 6.5% from 2007).
In
general, local market has been in a recovery trend since mid 2009, continuing
into the 1st half of 2010 and indicators prove that: Expenditure per
capita on private consumption rose 7% comparing to 2009 1st half.
From CBS data,
import of Household Utensils in 2009 summed up to US$ 474.2 million, comparing
to US$ 531.9 million in 2009, representing 10.8% decrease (after a 179%
increase in 2008 from 2007). The trend reversed in 2010 1st half,
with 22% increase in import (to US$ 271.3 million), comparing to 1stH 2009.
SUMMARY
Good for trade engagements.
Maximum unsecured credit recommended US$
15,000.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.12 |
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1 |
Rs.73.43 |
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Euro |
1 |
Rs.62.32 |
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.