MIRA INFORM REPORT

 

 

Report Date :           

14.11.2011

 

IDENTIFICATION DETAILS

 

Name :

SHASHA YEHORAM LTD.

 

 

Registered Office :

19 Ha'ilanot Street, Neveh David, Ramla   52527  

 

 

Country :

Israel

 

 

Date of Incorporation :

17.12.2007

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Traders, importers and marketers of foodstuff, mainly legumes, lentils, dried fruit, nuts and spices.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

US$ 150,000

 

 

Status :

Satisfactory

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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 

 

SHASHA YEHORAM LTD.

Telephone       972 8 920 99 39

Fax                972 8 915 39 65

19 Ha'ilanot Street

Neveh David

RAMLA          52527               ISRAEL

 

 

HISTORY & LEGAL FORMATION

 

Originally established as a sole proprietorship in 1992.

 

Converted into a private limited company and registered as such as per file No. 51-406382-5 on the 17.12.2007.

 

 

SHARE CAPITAL

 

Authorized share capital NIS 40,000.00, divided into -

                 40,000 ordinary shares of NIS 1.00 each,

of which 100 shares amounting to NIS 100.00 were issued.

 

 

SHAREHOLDERS

 

Subject is fully owned by Yehoram Shasha.

 

 

SOLE DIRECTOR & GENERAL MANAGER

 

Yehoram Shasha.

 

 

BUSINESS

 

Traders, importers and marketers of foodstuff, mainly legumes, lentils, dried fruit, nuts and spices.

 

Sales are to retail stores, as well as to wholesalers.

 

Having some 150 clients.

 

70% of purchase is import.

 

Among local suppliers: HAMAMA MEIR TRADING, SONS OF GEORGE SHUKHA, and more.

 

Operating from office premises at the private residence of Yehoram Shasha, in 19 Ha'ilanot Street, Neveh David, Ramla, and from rented office and warehouse premises, on an area of 3,000 sq. meters (on which 1,000 sq. meters built), in Farm No. 64, Yashrash Village.

 

Having 11 employees.

 

 

MEANS

 

Current stock is valued at NIS 5,000,000.

 

There is 1 charge for an unlimited amount, as well as 2 charges for the total sum NIS 370,000.00 registered on the company's assets (financial assets and vehicles), in favor of Bank Hapoalim Ltd. and Mercantile Discount Bank Ltd. (last charge placed July 2011).

 

 

SALES

 

·         2009 sales claimed to be NIS 22,000,000.

·         2010 sales claimed to be NIS 24,000,000.

·         2011 projected sales are NIS 28,000,000.

 

 

BANKERS

 

Bank Hapoalim Ltd., Ramla Branch (No. 618), Ramla, account No, 501500.

 

Mercantile Discount Bank Ltd., Derech Hayam Branch (No. 655), Tel Aviv, account No. 11944.

 

A check with the Central Banks' database did not reveal any negative information regarding subject's a/m accounts.

 

 

CHARACTER AND REPUTATION

 

Nothing unfavorable learned.

 

The local market for current consumption of consumer products grew in 2010 in money terms by 3.7% from 2009, while in the food & beverage market 3.9% growth was noted (summing up to NIS 33.3 billion). These numbers reflect the improvement in the local economy after the slow-down in 2009.

 

According to Ministry of Agriculture data from February 2009, 3,600 tons of pistachio and 3,100 tons of almonds are imported to Israel each year.

 

The whole local nuts/almonds and dried fruits market rolls some NIS 600 million annually. Most of it arrives from import from Turkey, China, USA, Far East countries and South Africa.

 

Import of food and beverages to Israel in 2009 decreased by 9.4% comparing to 2008, but recovered and rose by 15.5% in 2010, reaching US$ 1,986.5 million. A further improvement has been noted in 2011 first 8 months, where import of food & beverages rose 24% comparing to 2010, summing up to US$ 1,626.7 million.

 

Local food industry employs 61,000, level which remained stagnant in 2008/9.

 

According to Central Bureau of Statistics (CBS) data, investments in machinery & equipment from import for the food industry in 2010 summed up to NIS 640 million, 15% rise from 2009, while investments in machinery & equipment from import for the beverage & tobacco industries rose by 9.3% to NIS 381.7 million.

 

 

SUMMARY

 

Good for trade engagements.

Maximum unsecured credit recommended US$ 150,000.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.28

UK Pound

1

Rs.80.08

Euro

1

Rs.68.45

 

 

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.