MIRA INFORM REPORT
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Report Date : |
22.09.2011 |
IDENTIFICATION DETAILS
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Name : |
LAMED INVESTMENT AND TRADE CO. LTD. |
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Registered Office : |
P.O. Box 6644, Tel
Aviv (61066), 253 Dizengoff Street, Tel Aviv 63117 |
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Country : |
Israel |
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Date of Incorporation : |
05.08.1953 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers, exporters
and agents in various fields,
commodities (mainly), as well as making barter deals. |
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$ 200,000 |
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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
LAMED INVESTMENT
AND TRADE CO. LTD.
Telephone 972 3 546 35 36
Fax 972 3 546 35 46
P.O. Box 6644, Tel
Aviv (61066)
253 Dizengoff
Street
TEL AVIV 63117 ISRAEL
HISTORY & LEGAL FORMATION
A private limited company, incorporated as per file No. 51-011663-5 on
the 05.08.1953.
SHARE CAPITAL
Authorized share capital NIS 300.00, divided
into -
10
founder shares (fully issued),
2,999,990
ordinary shares (1,649,990 issued), all of NIS 0.0001 each,
of which shares amounting to NIS 165.00 were issued.
SHAREHOLDERS
1. Nachum Lamdan, 100% of founder shares and
99.9% of ordinary shares issued,
2. Mrs. Ruth Lamdan, holding 0.1% of ordinary
shares.
SOLE DIRECTOR & GENERAL
MANAGER
Nachum Lamdan, born 1939.
BUSINESS
A trading company, dealing in international trading.
Importers, exporters and agents in various fields, commodities (mainly),
as well as making barter deals.
Subject is handling iron, steel and non-ferrous metals, plastic products,
electric cables, chemicals, paper and cardboard, canned food, food
concentrates, citrus by-products, packaging, agricultural inputs, healthcare,
pharmaceuticals, etc.
All of subject’s sales are from commission.
Main markets are Eastern European countries and China.
Sole local agents of (among others): FCI FURUKAWA, of
Hungary.
Among suppliers: E
Operating from owned offices, on an area of 200 sq. meters, in 253
Dizengoff Street, Tel Aviv, as well as from several offices in Eastern Europe
and China.
Having 9 employees in Israel (had 13 employees in mid 2010) and 14
employees in Israel and abroad - Poland, Hungary and China (had 19 employees in
mid 2010).
MEANS
Subject holds no stock.
Other financial figures are not forthcoming.
There are 2 fixed and floating charges for unlimited amounts registered
on the company's assets (financial assets), in favor of Bank Leumi Le’Israel Ltd. (last charge placed April 2007).
SALES
Subject’s turnover, from a commission fee is drawn:
· 2008 turnover claimed to be US$ 60,000,000.
· 2009 turnover claimed to be US$ 40,000,000.
· 2010 turnover claimed to be US$ 45,000,000.
We were informed that 2011 turnover is at the same pace of 2010.
Commission rate is not forthcoming.
OTHER COMPANIES
AMIEX INTERNATIONAL TRADE COMPANY LTD., 60% by subject, the rest by Nahum
Lamdan, non-active.
INTEREXPORT LTD., non-active.
BANKERS
Bank Leumi Le’Israel Ltd., Tel Aviv Central Branch (No. 800), Tel Aviv,
account No. 536700/99.
A check with the Central Banks’ database did
not reveal any negative information concerning subject’s a/m bank account.
CHARACTER AND REPUTATION
We learnt on a lawsuit filed against subject by MERIDIAN BULK CARRIERS
LTD. in February 2007 to the New York Southern District Court (case No.
1:2007cv00987). We did not find additional information on this case.
We also learn on a
legal dispute in 2009 subject has with a Turkish company MTC METAL DIS TICARET
LTD STI regarding commission fees division in a joint deal to third parties. We
did not find additional information on this case.
In our searches in the past we came up with several legal procedures/ lawsuits
subject was and has been involved in, as plaintiff and defendant, mainly
concerning fees payment for deals in which subject brokered. None of the said
cases appears to be significant and we figure they do not have notable effect
on subject’s affairs and reputation.
Apart from that, nothing unfavorable learnt.
Subject is a very
long established company.
Mr. Nachum Lamdan serves as the
Chairman of the Trade for Export Division in the Federation of Israeli Chambers
of Commerce.
In February 2002, it was reported that
subject, together with a company from Turkey, is negotiating a deal to acquire
a galvanizing plant in Acre.
According to reports, in 2005 subject reached an arbitrator in relation
with a business conflict with one of its Israeli suppliers, RIT TECHNOLOGIES
LTD. Subject sued RIT for NIS 1.5 damages compensation from ceasing subject's
services as a distributor in Poland of RIT's communication products.
The arbitrator accepted subject's claim partly, and order RIT to pay
subject US$ 92,500.
SUMMARY
Good for trade engagements.
Maximum unsecured
credit recommended US$ 200,000.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.89 |
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UK Pound |
1 |
Rs.75.31 |
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Euro |
1 |
Rs.65.64 |
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.