MIRA INFORM REPORT

 

 

Report Date :           

23.05.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

EMANUEL SOMECH

 

 

Registered Office :

35 Ben Gurion Street, Herzliya 46420     

 

 

Country :

Israel

 

 

Date of Incorporation :

1970

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importers and marketers of carpets and parquet flooring solutions.

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

US$ 10,000.

 

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Israel

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company name & address   Bottom of Form

 

 

EMANUEL SOMECH

Telephone                972 9 957 94 22

Fax                         972 9 957 94 22

35 Ben Gurion Street

HERZLIYA               46420                 ISRAEL

 

 

HISTORY & LEGAL FORMATION

 

A sole proprietorship, established in 1970.

 

Operating under License Dealer No. 012604534.

The business is registered with the Tax Authorities’ Files under the name of "SOMECH EMANUEL".

 

* This is a non-registered business, therefore does not have a registered name. Subject is using also the style “PERSIAN HOUSE”, “SOMECH” (or SOMEKH), and may be also using the style you gave “SOMEKH ORIENTAL RUG GALLERY”.

 

 

OWNERSHIP

 

Emanuel Somech.

 

 

GENERAL MANAGER

 

Emanuel Somech.

 

 

BUSINESS

 

Importers and marketers of carpets and parquet flooring solutions.

 

Also carrying out parquet installation works.

 

Sales are mostly to private individuals.

 

Among local suppliers: AVI CARPETS, PARQUET4U, VERTIGO, GREENSPORT, REHITEI DAROM, DECOR LINE, JERUSALEM CARPETS, WINTER CARPETS, B.A.S. BUILDING AND ARCHITECTURE SERVICES,

AAA OLYMPIA IMPORT & MARKETING CARPETS PVC PARQUET, CONCEPT, and more.

 

Operating from rented premises, on an area of 100 sq. meters, in 35 Ben Gurion Street, Herzliya, and from a key-money warehouse, on an area of 110 sq. meters, in 33 Allenby Street, Tel Aviv.

 

Having 3 employees.

 

 

MEANS

 

Current stock is valued at NIS 600,000.

Other financial data not forthcoming.

 

 

ANNUAL SALES

 

2008 sales claimed to be NIS 1,600,000.

2009 sales claimed to be NIS 1,800,000.

2010 sales claimed to be NIS 2,000,000.

Sales for the first 4 months of 2011 claimed to be NIS 480,000.

 

 

BANKERS

 

Bank Leumi Le'Israel Ltd., Trumpeldor branch (No. 807), Tel Aviv, account  No. 449500/37.

 

A check with the central bank database did not reveal anything detrimental on subject’s a/m account.

 

 

CHARACTER AND REPUTATION

 

Nothing unfavorable learned.

 

Subject is long established.

 

The local floor covers market (carpets, rugs, wall-to-wall carpets, parquets floor) is estimated well over at US$ 100 million per annum.

 

 

SUMMARY

 

Good for trade engagements.

Maximum unsecured credit recommended US$ 10,000.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.93

UK Pound

1

Rs.72.92

Euro

1

Rs.64.34

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.