MIRA INFORM REPORT
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Report Date : |
08.11.2011 |
IDENTIFICATION DETAILS
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Name : |
HOLLAND-MORAN LTD. |
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Formerly Known As : |
HOLLAND-MORAN (1993) LTD. |
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Registered Office : |
P.O. Box 2753,
Yehud, 15 Avraham Geron Street, Industrial Zone, Yehud 56217 |
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Country : |
Israel |
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Year of Establishment : |
1980 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and
marketers of metals and alloys, including precious metals, nickel, aluminum,
copper, etc. |
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$ 600,000. |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
HOLLAND-MORAN LTD.
Telephone 972 73 226 80 00
Fax
972
73 226 80 80
P.O. Box 2753, Yehud
15 Avraham Geron Street
Industrial Zone
YEHUD 56217 ISRAEL
HISTORY & LEGAL FORMATION
Originally established in 1980 as a department of
HOLLAND ISRAEL CO. LTD. (which later on was sold to PAZ-CHEN LTD and is not
related to subject anymore).
Converted into a private limited company and
registered as such as per file No. 51-190812-1 on the 30.12.1993.
Originally registered under the name MORAN
CHEMICALS & EQUIPMENT (1993) LTD., which changed to HOLLAND-MORAN (1993)
LTD. on the 24.03.1995 and to the present name on the 31.03.1995.
SHARE CAPITAL
Authorized share capital NIS 22,900.00, divided
into -
22,900
ordinary shares of NIS 1.00 each,
of which 10,000 shares amounting to NIS 10,000.00
were issued.
SHAREHOLDERS
1.
Benjamin
Jesselson, 75%,
2.
JACOB
& DINA GOLDBERG LTD., 25%, owned by Jacob and Dina Goldberg.
DIRECTORS
1.
Jacob
Goldberg, General Manager,
2.
Benjamin
Jesselson.
BUSINESS
Engaged in 3 lines:
1.
Importers
and marketers of metals and alloys, including precious metals, nickel,
aluminum, copper, etc.
2.
Importers
and marketers of equipment for the chemical, pharmaceutical and food
industries.
3.
Importers
and marketers of chemicals and fine chemicals for the chemical branch.
8% of sales are export.
Amongst clients are leading local manufacturers:
HAIFA CHEMICALS, OIL REFINERIES, TARO PHARMACEUTICALS, AGIS/ PERRIGO ISRAEL,
HADAD BROS., HATZORFIM, CHEMAGIS, REKAH PHARMACEUTICAL PROD
All of subject’s suppliers are foreign.
Sole local representatives of (among many
others):
·
METALOR,
of Switzerland
·
BASF, of
Switzerland the USA,
·
WIELAND,
ENGELHARD, both of Germany,
·
ENGEL-HARD,
STREM CHEMICALS, PFALTZ & BAUER, all of the USA,
·
THESSCO,
FISHER SCIENTIFIC CHEMICALS, both of the UK,
·
ACROS
ORGANICS, UMICOR, both of Belgium,
·
ITAL
CHIMICI, of Italy.
Operating from rented premises, on an area of 500
sq. meters, in 15 Avraham Geron Street, Industrial Zone, Yehud.
Having 22 employees (same as in 2010 and 2009,
had 30 employees in 2008).
MEANS
Balance Sheet to the 31.12.2008 totaled (total
assets) NIS 37,500,000.
Equity was NIS 23,000,000. Later B/S data
unavailable.
Current stock is valued at NIS 8,000,000 (was valued
at NIS 12,000,000 in the 1st half of 2011, at NIS
There are 3 charges for unlimited amounts
registered on the company's assets (financial and fixed assets), in favor of
Mizrahi Tefahot Bank Ltd., Bank Leumi Le’Israel Ltd. and the First
International Bank of Israel Ltd.
SALES
·
2006 sales
claimed to be NIS 133,000,000.
·
2007 sales
claimed to be NIS 131,000,000.
·
2008 sales
claimed to be NIS 115,000,000.
·
2009 sales
claimed to be NIS 100,000,000.
·
2010 sales
claimed to be NIS 110,000,000.
·
Sales for
the first 9 months of 2011 claimed to be NIS 105,000,000.
·
Projected
2011 sales are NIS 125,000,000.
OTHER
COMPANIES
RAICOL CRYSTALS LTD., 50%, developers,
manufacturers, exporters and marketers of nonlinear optical materials and
devices, such as flux grown KTP and RTP crystals, for the communication,
lasers, space technology sectors and more. Having 37 employees with 2010 sales
of US$ 5,000,000.
Benjamin Jesselson and the Jesselson Family also
have holdings in many other companies in the financial markets, real estate and
industry, in Israel and abroad.
BANKERS
Mizrahi Tefahot Bank Ltd., Tel Aviv Main Business
Center Branch (No. 461), Tel Aviv, account No. 525946.
The First International Bank of Israel Ltd., Tel
Aviv Main Branch (No. 046), Tel Aviv, account No. 393762. Bank Leumi Le’Israel
Ltd., Jerusalem Main Branch (No. 901), Jerusalem, account No. 195600/82.
A check with the Central Bank’s Database did not reveal any negative
information concerning subject’s a/m bank accounts.
CHARACTER
AND REPUTATION
Nothing unfavorable learned.
Subject is long established and well-known.
The Jesselson family has been known in their involvement in the local
business community. Jesselson family of the U.S.A. is most affluent, and own,
control and invest in many other fields.
According
to data by of the Metal, Electrical and Infrastructure Industries Association,
representing the local Metal and Electricity Industries, which includes large
scale export-oriented industries on one hand and family-owned plants which sell
to the local market: 2010 sales (local and export) by the said industries
amounted to NIS 70 billion, comprising 25% of Israel's industrial output.
Results are similar to 2008 scales, after some 20% drop in 2009 due to the
significant slow-down in the local economy, affected by the global financial
and economic crisis. Sales for export reached US$ 10 billion in 2010.
Some 90,000 employees
serve the said industries (26% of Israel's industrial workforce).
According
to the Central Bureau of Statistics (CBS), import of metals raw
materials to the local industries in 2010 and 2011 first 8 months showed an
increasing trend, after a contraction in
CBS data reveals that gross domestic
investment in machinery and other equipment for the manufacturing industry
(both from import and domestic production) for 2010 rose by some 10% from 2009
(when it fell by 19% from 2008). Total gross domestic investment in machinery
and other equipment from import alone, rose by 12% (after falling in 2009 by
almost 24%).
According
to CBS, import of chemical raw materials for the local industries decreased in
2009 by 18.5% comparing to 2008, as part of the local and global slow-down
trend. An improvement was marked in
chemicals import in 2010, as local and global economy recovered from the
crisis, with growth of 18% comparing to 2009, with value of imported chemical
raw materials reaching US$ 4,231 million. The upwards trend continued into
2011, with some 20% increase in import of chemicals in the first 8 months (US$
3,298 million), comparing to the parallel period in 2010.
SUMMARY
Good for trade engagements.
Maximum unsecured credit recommended US$ 600,000.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.08 |
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UK Pound |
1 |
Rs.78.65 |
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Euro |
1 |
Rs.67.79 |
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.