MIRA INFORM REPORT
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Report Date : |
18.03.2011 |
IDENTIFICATION DETAILS
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Name : |
D.L. MIRO TRADE INTERNATIONAL LTD. |
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Formerly Known As : |
MIRO SWEETS (1983) LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
05.01.1983 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers, exporters and
international traders of
foodstuff, both raw materials for the food industry |
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$ 50,000 |
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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 |
Company name & address
D.L. MIRO TRADE INTERNATIONAL LTD.
Telephone 972 9
956 21 88
Fax 972 9
956 21 69
Herzliya Pituach
HERZELIYA-46725-ISRAEL
HISTORY & LEGAL FORMATION
A private limited company,
incorporated as per file No. 51-096020-6 on the 05.01.1983.
Originally
registered under the name AMI NADAV TRADE LTD., which changed to MIRO SUNFOOD
(1983) LTD. on the 17.02.1992, which changed to MIRO SWEETS (1983) LTD. on the
11.04.1996, and finally changed to the present name on the 22.02.2004.
SHARE CAPITAL
Authorized share
capital
1,000,000
ordinary shares of
of which 850,100
shares amounting to
SHAREHOLDERS
Subject is fully
owned by Michael (Mike) Lustig.
SOLE DIRECTOR AND GENERAL MANAGER
Michael (Mike)
Lustig.
BUSINESS
Importers,
exporters and international traders of foodstuff, both raw materials for the food
industry (i.e. concentrates and by-products for the soft drinks industry) and
for consumer foodstuffs products. Among goods: rice, edible oil, pastries, etc.
Among clientele:
Kibbutz Gan Shmuel, MEGA RETAIL, SUNFROST, and more.
Operating from
owned premises, on an area of 250 sq. meters, in
Having 10
employees serving subject and sister company (same as in 2009 and 2010).
MEANS
Work is based on
orders.
Owned property in
Herzliya (where subject is operating from) is valued at US$ 600,000.
Other financial
data not forthcoming.
There is 1 charge for
an unlimited amount, as well as 1 charge for the amount of NIS 1,300,000.00
registered on the company's assets, in favor of Bank Leumi Le'Israel Ltd. and
Bank Hapoalim Ltd.
ANNUAL SALES
Consolidated sales
for subject and sister company MIRO FOODS INTERNATIONAL LTD.:
2008 sales claimed
to be between US$20 - US$30 million.
2009 sales claimed
to be between US$20 - US$30 million.
2010 sales claimed
to be US$ 20 million.
OTHER COMPANIES
MIRO FOOD
INTERNATIONAL LTD., incorporated 1987, fully owned by Michael Lustig, deals in
the same line as subject, varies in products and customers.
BANKERS
Bank Leumi
Le'Israel Ltd., Herzliya Business Branch (No. 864), Herzliya, account No.
126400/59.
A check with the Central Banks’ database did not reveal negative
information on subject’s above mentioned account.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
Group is a veteran
business and well known in its field.
The local market for current consumption of consumer products grew in
Import of food and beverages to
Imports of raw food products to
According to Central Bureau of Statistics (CBS) data, the total household expenditure for private
consumption in 2010 on food, beverage and cigarettes rose 4.5% from 2009.
SUMMARY
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.45.24 |
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1 |
Rs.72.57 |
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Euro |
1 |
Rs.63.00 |
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.