MIRA INFORM REPORT
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Report Date : |
19.05.2011 |
IDENTIFICATION DETAILS
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Name : |
UPEX BRANDS LTD. |
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Registered Office : |
Farm
No. 55, Talmei Eliezer 38812 |
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Country : |
Israel |
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Date of Incorporation : |
14.02.2007 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
A Holding Company |
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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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
|
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
UPEX
BRANDS LTD.
Registered
address
Farm
No. 55
TALMEI ELIEZER-38812-ISRAEL
HISTORY & LEGAL FORMATION
A private limited company, incorporated as per
file No. 51-394115-3 on the 14.02.2007.
Subject transferred all
its commercial activities in July 2010 to a new established company UPEX BRANDS
2010 LTD., in which subject holds 50%, after the entrance of TROPICAL - DEGIL
COSMETIC INDUSTRIES LTD. as a new investor (holding the remaining 50%).
Subject serves as a holding company with
no commercial activity.
SHARE CAPITAL
Authorized share capital NIS 100,000.00,
divided into -
100,000
ordinary shares of NIS 1.00 each,
of which 1,000 shares amounting to NIS
1,000.00 were issued.
SHAREHOLDERS
1. G.S.S - GLOBAL SOURCING
SOLUTIONS LTD., 50%, fully owned by R.M.S. RETAIL MARCHENDIZE
SOLUTIONS LTD., owned by MAPAL COMMUNICATIONS LTD. (77%, via couple of other
subsidiaries) and by Yosef (Yosi) Fox (23%); MAPAL
COMMUNICATIONS LTD. is owned (80%) by NOA M.B. COMMUNICATIONS LTD. (owned
by Mrs. Tami Mozes-Borovits and Nadav Palti), and (20%) by AFRICA ISRAEL
INVESTMENTS LTD., a public company whose shares are traded on the Tel Aviv
Stock Exchange, controlled by Lev Leviev,
2. OPHIR M.T. HOLDINGS LTD., owned by Michael
(Miki) Ophir,
3. ZAFRIRIM TRANSPORTATION LTD., 10%,
controlled by Doron Frankenstein.
DIRECTORS
1. Nadav Palti,
2. Michael (Miki) Ophir,
3. Doron Frankenstein.
BUSINESS
A holding company.
Were marketers of branded wet wipes (wet
wipes with known children’s branded cartoons figures on the packaging), mainly
for the children's and baby sector.
Subject transferred activities in July 2010 to
UPEX BRANDS 2010 LTD. and since it is inactive commercially.
Registered address is Farm No. 55, Talmei
Eliezer, which is the address of Miki Ophir.
Subject used to operate from 2 Raul Wallenberg Street, Ramat Hahayal
Industrial Zone, Tel Aviv, which is the headquarters premises of the MAPAL
Group (see more in OTHER COMPANIES).
Having no employees.
MEANS
Financial data not forthcoming.
There are 4 charges for unlimited amounts registered on the company's
assets (financial assets), in favor of Bank Leumi Le'Israel Ltd. (charge placed
between 2007 to February 2010).
ANNUAL SALES
Revenues figures not forthcoming.
OTHER COMPANIES
UPEX BRANDS 2010
LTD., 50%, established 01.07.2010, took over subject's commercial
activities, operates from the Southern Industrial Zone, Kiryat Shoma (the
premises of TROPICAL DEGIL). Development and
distribution of branded toiletries in wet wipes, liquid soap and warm cushions,
for children, mainly for Europe (brands: Loony Toons, Tom & Jerry, Dora,
Scooby Doo, Thomas and Bob the Builder).
MAPAL COMMUNICATIONS LTD., holding company, engaged in advertising, media,
Internet, cellular, branding & retail. Among its main subsidiaries (100%
held, unless otherwise stated):
Branding and
Retail Field:
R.M.S. RETAIL MARCHENDIZE SOLUTIONS LTD., 77%, fully owns G.S.S. - GLOBAL
SOURCING SOLUTIONS LTD., holds the commercialization of licensed brands by
WARNER BROS. in Israel.
L.D.I. – LICENSING
DYNAMICS INTERNATIONAL LTD., represents international brands for the
commercialization of their franchise in Israel.
D.T.R. DIRECT TO RETAIL LTD., importers and
marketers of textile products (mainly children's ware and under ware) and toys.
Also provides turnkey merchandising solutions to major retail chains in Israel.
D.T.R. INTL. GmbH, (95% by held directly via D.T.R. and 5% directly)
MAPAL LDI LTD.,
MAPAL LDI (BVI)
LTD.,
B.M.I. LTD.,
MAPAL BRANDS B.M.I. LTD.
L.D.I BV LTD.
L
Advertising Field:
COMMUNICATV LTD.
(CTV), 49%, advertising media,
SEE VISION LTD.,
50%.
CTV TECH LTD.,
CTV MEDIA LTD.,
90%
EUROFUN (A.S.P.)
WIRELESS APPLICATIONS LTD., development, operation and marketing of branded
cellular content, representing world’s leading studios (e.g. WB, DreamWorks, Sony,
Marvell and Disney).
Media Field:
MAPAL EDEN
TELENOBLES LTD.,
DORI MEDIA GROUP
(DMG) LTD., 42.1%, an international entertainment group active in the
production, distribution and broadcasting of “Telenovelas” (soap operas). Own 2
dedicated TV channels and sells high-loyalty TV content and branded
merchandise. Publicly traded on London AIM Stock Exchange, with current market
value £7.7 million. Having many subsidiaries.
Cellular Field:
CONTENT
COMMUNICATION CHANNEL LTD., over 30%,
ARAB WORD CCC, 51%.
Internet Field:
TRAVELIST, 43%, Internet site for tourists.
TROPICAL - DEGIL COSMETIC INDUSTRIES LTD., manufacturers, exporters and marketers of toiletries and cosmetics.
BANKERS
Bank data not forthcoming.
(Subject used to work with Bank Leumi
Le’Israel Ltd.).
CHARACTER AND REPUTATION
Nothing unfavorable learned.
We spoke with Miki Ophir, who used to manage
subject prior to selling its business activities, and he informed us that
subject has been inactive since the transaction.
MAPAL COMMUNICATIONS
Group is the leading Group in Israel in their field, well-known in the
international arena and enjoys good reputation.
MAPAL’s shareholders has other holdings in
other areas.
AFRICA ISRAEL INVESTMENTS LTD., also a
shareholder in MAPAL, is among Israel’s leading holdings and investments
groups, with many holdings in various sectors in Israel and abroad.
SUMMARY
Being commercially inactive, credit appears
to be irrelevant.
Commercial dealings are recommended with
UPEX BRANDS 2010 LTD., Registration No. 51-446819-8.
Note: Yoav Garty was the CFO of subject (while
active).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.08 |
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UK Pound |
1 |
Rs.73.45 |
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Euro |
1 |
Rs.64.30 |
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.