MIRA INFORM REPORT
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Report Date : |
05.05.2011 |
IDENTIFICATION DETAILS
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Name : |
RENBY INVESTMENTS LTD. |
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Formerly Known As : |
RENBY LTD |
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Registered Office : |
80 Herzl Street, (Corner Of 39 Yedida Frankel Street), Tel Aviv 66552 |
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Country : |
Israel |
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Year of Establishment : |
1978 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of home textile and
upholstery materials. |
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$ 130,000. |
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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
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
Company name & address
RENBY INVESTMENTS LTD.
(Also trading as: RENBY HOME DECORATION, or
RENBY HOME COUTURE)
Telephone 972 3 513 30 00
Fax 972 3 682 87 83; 513 30 51
80 Herzl Street
(corner of 39 Yedida Frankel Street)
TEL AVIV 66552-ISRAEL
HISTORY & LEGAL FORMATION
Originally established
in 1978 as a non-registered business.
Converted into a
private limited company and registered as such as per file No. 51-091259-5,
under the name RENBY LTD on the 12.01.1982, and changed name to present one on
the 01.09.1982.
SHARE CAPITAL
Authorized share
capital NIS 250.00, divided into -
25,000
ordinary shares of NIS 0.01 each,
of which 8,600
shares amounting to NIS 86.00 were issued.
SHAREHOLDERS
1. Benyamin
(Benny) Moran, 70%,
2. Ms. Solange
Hendler, 21%,
3. Ms. Dalia Toppel,
9%, all a/m are brothers and sisters.
DIRECTORS AND JOINT GENERAL
MANAGERS
1. Benny Moran,
Chairman,
2. Ms. Solange
Hendler,
BUSINESS
Importers and
marketers of home textile and upholstery materials (leather, fabrics),
including curtains and carpets, tablecloths, beddings, wallpapers, etc.
Also importers
and marketers of artistic crystals.
In addition,
operating a retail store in Tel Aviv.
Having some 3,000 customers. Sales are mainly to private customers.
Among subject’s
clientele are leading furniture manufacturers and chains: AMINACH FURNITURE AND
MATTRRESS INDUSTRIES, TOLLMANS, BETILI, SHOMRAT HAZOREA, HOLIS METAL
INDUSTRIES, etc.
Also selling to
the institutional markets (hotels, etc.).
All purchasing is
imported.
Local representatives
of (non-exclusive):
For fabrics,
textile, coverings, etc:
DESLEE, TERMOLST,
TISSAT, MARTEX, all of Belgium,
CENTURY,
COVINGTON, RIBENKS, UNITEX, STROHEIM & ROMANN, all of U.S.A.,
NOBLIS,
METAPHORES, KENSO MAISON, all of France,
CESARO, of Holland,
CHRISTIAN
FISCHBACHER, of Switzerland,
LORENZO RUBELLI,
FORNASETTI, MISSONI, ETRO, ELITIS, FRETTE, all of Italy.
COLE & SON,
of the U.K.
For crystals:
DAUM, CRYSTAL DE
SERVES, both of France.
Operating from
premises (owned by the shareholders), a 3 storey building (400 sq. meters), in
80 Herzl Street (corner of 39 Yedida Frankel Street), Tel Aviv.
Also operating
from a retail store, rented, on an area of 140 sq. meters, in 30 Hei Be’Iyar
Street, Kikar Hamedina Square, Tel Aviv.
Having 40 employees
(same as in 2010, had some 50 employees in 2008).
MEANS
Stock is valued
at US$ 2,500,000 (same as in previous years).
Owned property in
80 Herzl Street, Tel Aviv (where subject is operating from) is valued at
several of US$ millions.
There are 7 charges
for unlimited amounts as well as 1 charge for the sum of NIS 470,000.00
registered on the company's assets (financial assets, fixed assets and
vehicles), in favor of Bank Leumi Le’Israel Ltd., The First International Bank
of Israel Ltd., Mizrahi Tefahot Bank Ltd., leasing companies and an individual.
ANNUAL SALES
2006 sales
claimed to be US$ 6,500,000.
2007 sales
claimed to be US$ 6,500,000.
2008 sales
claimed to be circa US$ 6,500,000.
2009 sales
claimed to be US$ 6,500,000.
2010 sales
claimed to be US$ 6,500,000.
BANKERS
The First
International Bank of Israel Ltd., Kiryat Hamelach Branch (No. 055), Tel Aviv.
Bank Hapoalim
Ltd., Hadarom Branch (No. 517), Tel Aviv.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
Subject is long established
and a leading company in its field in the local market.
Subject's
products known to be of high quality.
According to
reports from December 2009, subject leased the new shop in 30 Hei Be’Iyar
Street, Hamedina Square, Tel Aviv (which replace the shop they had in Herzliya,
which was closed), paying US$ 10,000.00 per month rental fees. The reason for
the relative high fees is that “Hamedina Square” (or Kikar Hamedina in Hebrew)
is one (if not the most) of Israel’s most prestigious shopping areas.
According to the Central
Bureau of Statistics (CBS), import of fabrics and yarns rose in 2010 by
16.6% and reached US$ 684.5 million. This reflects the recovery in general in
the local economy, as well as in the global economic environment (import fell
in 2009 by 17.2% from 2008), and return to the growth trend in the recent years
beforehand.
The Chinese
production comprises the largest portion of the imported textile goods followed
by France, Italy, Hong Kong and Turkey. The increase in imports emanates from
the exposure to foreign markets policy by the State.
From CBS data,
import of Household Utensils in 2010 rose by 15.8% from 2009 summing up to US$
549.3 million, comparing to US$ 474.2 million in 2009 and similar to 2008
level.
SUMMARY
Good for trade engagements.
Maximum unsecured
credit recommended US$ 130,000.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.59 |
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UK Pound |
1 |
Rs.73.42 |
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Euro |
1 |
Rs.66.04 |
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.