MIRA INFORM REPORT
|
Report Date : |
16.09.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
COHEN YAKIM METALS LTD. |
|
|
|
|
Registered Office : |
3 Hachsharat Hayeshuv Street, New
Industrial Zone, Rishon Le-Zion 75652 |
|
|
|
|
Country : |
Israel |
|
|
|
|
Date of Incorporation : |
28.12.2004 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Non-ferrous metals recycling plant. |
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$ 350,000 |
|
|
|
|
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 – 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
COHEN YAKIM METALS LTD.
Telephone 972 3 962 71 53
Fax 972 3 962 71 52
3 Hachsharat Hayeshuv Street
New Industrial Zone
RISHON LE-ZION-75652-ISRAEL
HISTORY & LEGAL FORMATION
A private limited company, incorporated as per file No. 51-362444-5 on
the 28.12.2004.
Subject is continuing the business activities (assumed in January 2005)
of a sole proprietorship business founded
in 1961 by subject's owner's father, Yakim Cohen, which operated under
the style COHEN YAKIM METALS.
SHARE CAPITAL
Authorized share capital NIS 50,000.00, divided into -
50,000 ordinary shares of NIS
1.00 each,
of which 100
shares amounting to NIS 100.00 were issued.
SHAREHOLDERS
Subject is fully
owned by Itzhak Cohen.
SOLE DIRECTOR & GENERAL
MANAGER
Itzhak Cohen.
BUSINESS
Non-ferrous metals
recycling plant.
Almost 100% of
sales are for export.
Operating from rented premises, owned by the shareholder, on total area
of 2,000 sq. meters, of which 700 sq. meters are built, in 3 Hachsharat
Hayeshuv Street, New Industrial Zone, Rishon Le-Zion.
Having 15 employees.
MEANS
Current stock is valued at NIS 4,000,000.
Property owned by the shareholders in Rishon
Le-Zion Industrial Zone (where subject is operating from) is valued at US$
2,000,000.
There are 4 charges for unlimited amounts registered on the company's
assets (fixed and financial assets), in favor of Bank Leumi Le'Israel Ltd.
Charges were placed in 2005, 2008 and in 2009.
ANNUAL SALES
2010 turnover claimed to be NIS 80,000,000,
almost entirely for export.
BANKERS
Bank Leumi
Le'Israel Ltd., Yafo Branch (No. 801), Tel Aviv – Yafo, account No. 115900/28.
A check with the Central
Banks’ database did not reveal any negative information regarding subject’s a/m
account.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
This is a veteran
family business.
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).
Export of products
of Basic Metals by the local industry rose in the first 8 months of 2011 by 14%
from the parallel period in 2010, reaching US$1,766.7 million, continuing the
growth trend in 2010 when it rose by 39.2% from 2009, reaching US$ 2,378.3
million.
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
SUMMARY
Good for trade
engagements.
Maximum unsecured credit recommended US$ 350,000.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.84 |
|
UK Pound |
1 |
Rs.75.40 |
|
Euro |
1 |
Rs.65.68 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.