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Report Date : |
26.04.2012 |
IDENTIFICATION DETAILS
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Name : |
ZETA INDUSTRIES & TRADING LTD. |
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Registered Office : |
Mobile Post Shimshon, Tzora Park, Tzora
9980300 |
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Country : |
Israel |
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Date of Incorporation : |
04.01.2001 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of ironsmith and hardware products
for assembly of truck structures, parts assembled on truck chassis made of
metal and plastic |
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No. of Employees : |
23 employees (had 20 employees in 2010) |
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$ 100,000 |
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Status : |
Good |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Israel |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
ZETA INDUSTRIES & TRADING LTD.
Telephone 972 2 995 08 00
Fax 972 2 995 08 01
Mobile Post Shimshon
Tzora Park
TZORA 9980300 ISRAEL
A private limited
company, incorporated as per file No. 51-306359-4 on the 04.01.2001.
Authorized share capital NIS 35,000.00, divided into:-
35,000 ordinary shares of NIS
1.00 each,
of which 100
shares amounting to NIS 100.00 were issued.
1. Itzhak (Isi) Yogev, 67%,
2. Ronen Mizrahi, 33%.
Ronen Mizrahi
Importers and
marketers of ironsmith and hardware products for assembly of truck structures, parts
assembled on truck chassis made of metal and plastic.
Also importers and
marketers of lifting, conveyance and safety equipment for working in heights.
Subject also sells
for export on very low scales.
Among local
customers: HATEHOF, PALSAN SASA, ISI YOGEV HATEHOF (an affiliate), MARYUMA
CENTRAL CO. FOR CHASSIS MANUFACTURING, etc.
Most purchasing is
from import, from Europe, USA and Far East.
Sole
local representatives of (main ones):
AL-KO, YALE, HTS, JDT, all of Germany,
FUHRMANN, of Austria,
FURGOCAR, DAKEN, DOMAR, BAWER, TAKLER, all of Italy,
LABCRAFT, WBH, both of England,
BOSTIK, LOAD LOK, both of Holland.
LES, CHAINERIES LIMOUSINES, POMMIER, FORGE FRANCE SYSMA, all of France,
JULI GROUP, TOHO,
both of China.
Operating from rented
premises, on an area of 1,400 sq. meters, in Tzora Park, Kibbutz Tzora, located
near the Jerusalem Hills, to where subject moved from Farm #36, Givat Koach (Note: postal box 6440 is no longer relevant).
Having 23
employees (had 20 employees in 2010).
Current stock is
values at NIS 5,800,000 (was valued NIS 5,000,000 in 2010).
Other financial
data not forthcoming.
There are 11 charges for unlimited amounts
registered on the company’s assets (financial assets, fixed assets, equipment and
vehicles), in favor of Bank Leumi Le’Israel Ltd., Israel Discount Bank Ltd. and
Bank Hapoalim Ltd. (last charge placed February 2012).
· 2005 sales claimed to be NIS 9,500,000.
2006
sales claimed to be NIS 11,000,000.
2007
sales claimed to be NIS 14,000,000.
2008
sales claimed to be NIS 15,000,000.
2009
sales claimed to be NIS 17,000,000.
2010
sales claimed to be NIS 21,000,000.
2011
sales claimed to be NIS 23,000,000.
CASTRO SERVICES FRO CHASSIS LTD., 76%, repair of trucks chassis,
operating from same premises as subject.
ZETA LIFTING & CONVEYANCE EQUIPMENT LTD., 76%, selling lifting and
conveyance equipment, operating from same premises as subject.
ISI YOGEV HATEHOF LTD., 50% owned by Isi Yogev, manufacturers and
marketers of crates for trucks and lorries.
ISI YOGEV HOLDINGS 2002 LTD., owned by Isi Yogev, a holding company.
ISI YOGEV INDUSTRIES LTD., owned by Isi Yogev, a holding company.
RONEN OMER TRADE LTD., 33% owned by Ronen Mizrahi, non-active.
· Israel Discount Bank Ltd., Haifa Main Branch (No. 070), Haifa, account No. 33766.
Bank
Hapoalim Ltd., Bat Yam Branch (No. 642), Bat Yam, account No. 133123.
A check with the Central Banks' database did not reveal any negative
information regarding subject's a/m accounts.
Bank Leumi Le’Israel Ltd., Hanevi'im Branch
(No. 702), Haifa.
Nothing
unfavorable learned.
Sister company ISI
YOGEV HATEHOF LTD. is considered among the leading companies in their field in
the local market.
In June 2007, ISI YOGEV INDUSTRIES LTD., fully owned by Isy Yogev, signed an agreement with
HATEHOF LTD., controlled by David Oron, according to which the parties will
established a new company, equally owned, and transfer all of their present
companies' activities into the new company. The new company, ISI YOGEV HATEHOF
LTD., acquired from ISI YOGEV INDUSTRIES all its assets and liabilities, in
consideration of NIS 2.88 million and all of HATEHOF's activities in the said
area, including stock and equipment, for NIS 200,000.
Also according to the agreement, Isi Yogev became the General Manager of
the new company. The new company operates from subject's premises and pays rent
to the company owned by Mr. Yogev.
(The veteran HATEHOF LTD. encountered severe financial difficulties,
went into freezing procedures and a creditors' arrangement and since July 2011
is fully owned by new shareholders KCPS Group).
The spare parts market for trucks is considered
most profitable.
According to estimations, between 30,000 to
40,000 trucks roll on the Israeli roads.
Good for trade
engagements.
Maximum unsecured
credit recommended US$ 100,000.
Note: Since the beginning of 2012 Israel Post
started using a new area code method of 7 digits (the old method of 5 digits
will still be valid till end of 2012).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.49 |
|
UK Pound |
1 |
Rs.84.66 |
|
Euro |
1 |
Rs.69.25 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
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 |
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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 |
---- |
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.