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Report Date : |
10.12.2012 |
IDENTIFICATION DETAILS
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Name : |
ALPHA LOGICA ISRAEL LTD. |
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Registered Office : |
P.O. Box 117, Lod - Ben Gurion Airport (7015002), 6 Gazit Street, Shoham 6082017 |
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Country : |
Israel |
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Date of Incorporation : |
09.04.1998 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturers (via sub-contractors) and marketers of accessories and
promotional items for local cosmetics companies |
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No. of Employees : |
03 employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Israel |
A2 |
A2 |
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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 |
israel - ECONOMIC OVERVIEW
Israel has a technologically
advanced market economy. It depends on imports of crude oil, grains, raw
materials, and military equipment. Cut diamonds, high-technology equipment, and
agricultural products (fruits and vegetables) are the leading exports. Israel
usually posts sizable trade deficits, which are covered by tourism and other
service exports, as well as significant foreign investment inflows. The global
financial crisis of 2008-09 spurred a brief recession in Israel, but the
country entered the crisis with solid fundamentals - following years of prudent
fiscal policy and a resilient banking sector. The economy has recovered better
than most advanced, comparably sized economies. In 2010, Israel formally
acceded to the OECD. Natural gasfields discovered off Israel's coast during the
past two years have brightened Israel's energy security outlook. The Leviathan
field was one of the world's largest offshore natural gas finds this past
decade. In mid-2011, public protests arose around income inequality and rising
housing and commodity prices. The government formed committees to address some
of the grievances but has maintained that it will not engage in deficit
spending to satisfy populist demands.
|
Source : CIA |
ALPHA LOGICA ISRAEL LTD.
Telephone 972 3 974 13 33
Fax 972 3 974 14 78
P.O. Box 117, Lod - Ben Gurion AirPort (7015002)
6 Gazit Street
SHOHAM 6082017 ISRAEL
A private limited company, incorporated as per file No. 51-262322-4 on the
09.04.1998.
Authorized share capital NIS 35,700.00, divided into -
35,700 ordinary shares of NIS
1.00 each,
of which 1,001 shares amounting to NIS 1,001.00 were issued.
Subject is fully owned by ALSYS S.A., of
Belgium.
Charles Avned, of Belgium.
Ms. Ronena Laron.
Manufacturers (via sub-contractors) and marketers of accessories and
promotional items for local cosmetics companies.
All manufacturing is carried out via sub-contractors in China, and recently
in India as well.
Among clients: S. SCHESTOWITZ, UNILEVER ISRAEL, LOREAL ISRAEL, DEAD SEA
LABORATORIES, DIPLOMAT COSMETICS, SABON SHEL PAAM, DR. OR, etc.
Operating from rented office premises, on an area of 100 sq.
meters, in 6 Gazit Street, Shoham.
Having 3 employees.
Work is according to orders.
Financial data not forthcoming.
There are 8
charges for unlimited amounts registered on the company's assets (financial
assets and a vehicle), in favor of Bank Hapoalim Ltd. and a leasing company
(last charge placed February 2012).
2010 sales claimed to be NIS 4,000,000.
2011 sales claimed to be NIS 6,000,000.
2012 sales claimed to be NIS 6,500,000.
Bank
Hapoalim
Ltd., Kfar Shemaryahu Branch (No. 680), Kfar
Shemaryahu, account No. 410082.
A check with the Central Banks' database did not reveal any negative
information regarding subject’s a/m bank account.
Nothing unfavorable learned.
Subject's
clients are leading local companies in the cosmetics and toiletries industries.
These sectors have been experiencing a growing trend in recent years.
The local
cosmetics market was estimated at annual sales of NIS 2 billion (excluding
duty-free sales, which are significant). In addition, local cosmetics industry
sales for export are valued at further NIS 1 billion.
Sources in the
branch estimated that the market remained stagnant in 2008 comparing to 2007,
though further erosion was noted 2009, mainly of the luxurious brands, due to
the local slow down in economy in most 2009. The situation has improved since
mid 2009 and we assume that sales in 2010 rose in comparison to 2009.
Local popular
make-up and cosmetics market is valued at NIS 700 million per annum.
The perfume sales
are estimated at over NIS 700 million per annum and double (NIS 1.4 billion)
when including duty-free sales.
Good for trade engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.20 |
|
UK Pound |
1 |
Rs.86.99 |
|
Euro |
1 |
Rs.70.22 |
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 |
|
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 |
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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 |
|
<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.