MIRA INFORM REPORT

 

 

Report Date :           

23.05.2011

 

IDENTIFICATION DETAILS

 

Name :

TIBULIM RAM LTD.

 

 

Registered Office :

Mobile Post Kfar Hamaccabi, Ramat Yohanan 30035       

 

 

Country :

Israel

 

 

Date of Incorporation :

26.01.2005

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Growers, processors, manufacturers, importers, exporters and marketers spices, seasoning mix, herbal infusions, natural and health products, as well as food additives for industry

 

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$ 50,000.

Status :

Moderate

Payment Behaviour :

No Complaints

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

 

 Bottom of Form

 

Company name & address 

 

TIBULIM RAM LTD.

Telephone         972 4 845 91 35

Fax                  972 4 845 91 44

Mobile Post Kfar Hamaccabi

RAMAT YOHANAN-30035                         ISRAEL

 

 

HISTORY & LEGAL FORMATION

 

A private limited company, incorporated as per file No. 51-364471-6 on the 26.01.2005.

 

Subject was established in view of continuing the business activities of TIBULIM LTD., originally founded some 50 years earlier (incorporated 1990) in Moshav Beit Lehem HaGlilit, after the joining of Kibbutz Ramat Yohanan.

 

 

SHARE CAPITAL

 

Authorized share capital NIS 10,000.00, divided into -

                   10,000 ordinary shares of NIS 1.00 each,

fully issued.

 

 

SHAREHOLDERS

 

1.    Kibbutz Ramat Yohanan (through RAMAT YOHANAN INDUSTRY & AGRICULTURE DEVELOPMENT - ACS LTD.), 51%, a cooperative society, operating a communal agricultural settlement,

2.    Ilan Zitershpiler, 49%.

 

 

DIRECTORS

 

1.    Avner Ahituv, Chairman,

2.    Ilan Zitershpiler,

3.    Ehud Peled,

4.    Ido Rodoy,

5.    Yohanan Karu,

6.    Haim Lilos

 

GENERAL MANAGER

 

Oz Elnir

                                                                                                                        

 

BUSINESS

 

Growers, processors, manufacturers, importers, exporters and marketers spices, seasoning mix, herbal infusions, natural and health products, as well as food additives for industry.

 

Some 15% of subject’s sales are exports, mainly to Germany.

 

Products are sold as raw materials for the food industries and as finished products to wholesalers and institutional markets in Israel and abroad.

 

Among local clients are leading food industries, e.g. TNUVA, OSEM, STRAUSS GROUP.

 

Sole local representatives and distributors of SYMRISE, of Germany.

 

Among service suppliers: FOODBIZ, MAXSOFT.

 

Operating from premises (offices, land and plant), on an area of 3,000 sq. meters, in Kibbutz Ramat Yohanan (land is owned by the Kibbutz), as well as growing land in Yezreel Valley.

 

Having 30 employees (same as in 2010, had some 20 employees in 2008/9).

 

 

MEANS

 

Financial data not forthcoming.

 

There are 5 charges for unlimited amounts, as well as 1 charge for the sum of NIS 150,000.00 registered on the company's assets (financial assets and a vehicle), in favor of Israel Discount Bank Ltd. and Bank Leumi Le’Israel Ltd. (last charge placed in May 2008).

 

 

ANNUAL SALES

 

Exact sales figures not forthcoming. According to our sources, 2008 sales were circa NIS 8,000,000.

 

OTHER COMPANIES

 

PILPEL - FOOD INDUSTRIES DEVELOPMENT LTD., 100%, a subsidiary, dealing in raw materials for the food industries.

 

Kibbutz Ramat Yohanan also controls:

PALRAM INDUSTRIES (1990) LTD., 72.9%, a publicly traded company (Tel Aviv Stock Exchange), manufacturers, exporters and marketers of thermo-plastic rigid sheets and technical components of PC, PVC and other polymers for construction, industry, advertising, DIY and agriculture sectors. Total B/S (31.12.2010) NIS 1006.6 million, 2010 sales were NIS 1,032 million. Current market value US$ 71.8 million. Main subsidiaries:

PALTOUGH INDUSTRIES (1998) LTD., 75% (and 25% are held by BAYER concern of Germany), manufacturers and marketers of polycarbonate & acrylic plastic boards, holding 100% of:

Manufacturing companies:

PALTOUGH INDUSTRIES (1998) LTD., 75% (and 25% are held by BAYER concern of Germany), manufacturers and marketers of polycarbonate & acrylic plastic boards, holding 100% of: PALRAM GERMANY GMBH, Germany,

PALRAM SHANGHAI LTD., SHANGHAI HUILI TUVGAL LTD. (25%), China, PALRAM POLYCARB LTD. (UK) and PALRAM 2000 INC. (USA).

PALRAM APPLICATIONS (1995) LTD., manufactures, exporters, marketers of finished and complementary products based on P.V.C and thermo-plastic goods.

PALRAM P.V.C. LTD., manufactures, exporters and marketers of P.V.C. thermo-plastic rigid sheets., holds 100% of PALMAR (PALRAM MARKETING) LTD., U.K., marketing company, PALRAM DPL LTD., U.K., operating a plant in the U.K in the PVC line, PALRAM PANELS INC., USA, operating a plant in the U.K in the PVC line.

And many other local and foreign subsidiaries.

 

GADASH RE'EM, an agricultural partnership of Kibbutz Ramat Yahanan with Kibbutz Usha and Kibbutz Kfar Hamaccabi, cultivating 9,700 sq. meters of field crops and arable crops.

TRACTORAM, 100%, importers and marketers of agricultural machinery.

 

 

BANKERS

 

Bank Leumi Le'Israel Ltd., Haifa Main Branch (No. 876), Haifa.

 

 

CHARACTER AND REPUTATION

 

Nothing unfavorable learned.

 

Mr. Oz Elnir, General Manager, refused to disclose financial data on the company.

 

Subject is ISO 9001:2000 certified.

 

Kibbutz Ramat Yohanan was founded in 1931. It has some 350 members, out of population of 800. The kibbutz also cultivates a large area of agricultural land, including fruit orchards and plantations, field crops, operates dairy farming, poultry etc.

PALRAM Group is well-known and veteran manufacturer of thermoplastic sheets, considered among the world’s 5 leading manufacturers of polycarbonate plastic boards.

 

In August 2009 subject started a joint venture of store in store with MEGA RETAIL.

 

The spices growing branch is considered the highest growing agricultural export branch in Israel in recent years. Exports of grown spices reached €73 million in 2006. The volume of demand in the local market for grown spices was expected to reach NIS 40 million in 2006.

 

There are some 30,000 spices plants grown in Israel on total area of 50,000 sq. meters, according to the Plants Council.

 

 

SUMMARY

 

Notwithstanding the refusal to disclose financial data, considered good for trade engagements.

Maximum unsecured credit recommended US$ 50,000.

 

 

 

 

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.