MIRA INFORM REPORT
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Report Date : |
31.05.2011 |
IDENTIFICATION DETAILS
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Name : |
WEINGARTEN HAMAVRISH LTD. |
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Registered Office : |
P.O. Box 7768 (49511), 6 Gonen Street, Kiryat Matalon
Industrial Zone, Petach Tikva 49259 |
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Country : |
Israel |
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Date of Incorporation : |
13.08.1973 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers
of products for the DIY field |
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$ 60,000 |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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
WEINGARTEN
HAMAVRISH LTD.
Telephone 972
3 922 03 92; 923 14 17
Fax 972 3 923 18 07
P.O. Box
7768 (49511)
6 Gonen
Street
Kiryat
Matalon Industrial Zone
PETACH
TIKVA-49259 ISRAEL
HISTORY & LEGAL FORMATION
Originally established as a non-registered business in 1939.
Converted into a private limited company and registered as
such as per file No. 51-065818-0 on the
13.08.1973.
SHARE CAPITAL
Authorized share capital NIS 2,161.00, divided into -
1 redeemable preference share,
60 management shares,
2,100 ordinary shares, all of NIS
1.00 each,
fully issued.
SHAREHOLDERS
1. Haim Weingarten, 33.33% (also holding the 1
single redeemable preference share),
2. Yair Weingarten, 33.33%,
3. Ofer Weingarten, 33.33%.
DIRECTORS
1. Yair Weingarten, General Manager,
2. Haim
Weingarten,
3. Ofer
Weingarten.
BUSINESS
Importers and marketers of products for the DIY field.
Also marketers of paint brushes, brooms and accessories
manufactured by subject’s sister company, H.Y.O. INDUSTRIES LTD.
Note: Subject’s and sister H.Y.O. activities are interweined.
Amongst clients: HOME CENTER (largest local DIY chain),
Ministry of Defense, HYPER ROSENFELD, local municipalities, etc.
Among local suppliers (including for H.Y.O.): BEN AMI
PLASTIC, RAPKO DETERGENT INDUSTRIES, KOL GUMI, M.A. MANUFACTURING & IMPORT
OF RAGS, etc.
Operating from premises, owned by the shareholders, on an
area of 2,000 sq. metres in 6 Gonen Street, and rented warehouse, on an area of
300 sq. metres, in 3 Gonen Street, both premises in Ramat Siv, Kiryat Matalon
Industrial Zone, Petach Tikva. Premises serve the Group.
Having 30 employees serving subject’s and sister H.Y.O. (same as in mid 2010, had 35 employees in 2009).
MEANS
Consolidated stock (subject and sister H.Y.O.) is valued
at NIS 3,000,000 (same as in mid 2010, was valued at NIS
Property owned by the shareholders in 6 Gonen Street,
Kiryat Matalon Industrial Zone, Petach Tikva is valued US$ 1,500,000.
There are 15 charges for unlimited amounts registered on
the company's assets (financial and fixed assets), in favor of Bank Leumi
Le’Israel.
ANNUAL SALES
Consolidated sales (subject and sister H.Y.O.):
2007 sales claimed to be NIS 16,500,000.
2008 sales claimed to be NIS 15,000,000.
2009 sales claimed to be NIS 15,000,000.
2010 sales claimed to be NIS 15,000,000.
Sales for the first 5 months of 2011 claimed to be NIS
7,000,000.
OTHER COMPANIES
H.Y.O. INDUSTRIES LTD., established 1985, owned by
subject’s shareholders, manufacturers of paint brushes, brooms, etc.
BANKERS
Bank Leumi Le’Israel Ltd., Kiryat Arie Business Branch
(No. 670), Petach Tikva, account No. 18500/01.
A check with the Central Banks' database did
not reveal negative information on subject’s a/m bank account.
CHARACTER AND REPUTATION
Nothing unfavourable learned.
Subject is a long established company. Group’s business
activities known to be stable along the years.
SUMMARY
Good for trade engagements.
Maximum unsecured credit recommended US$ 60,000.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.10 |
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UK Pound |
1 |
Rs.74.27 |
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Euro |
1 |
Rs.64.35 |
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.