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Report Date : |
10.12.2012 |
IDENTIFICATION DETAILS
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Name : |
NURIEL COHEN MARKETING & DISTRIBUTION
LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
20.06.2001 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Traders in building inputs: concrete additives (i.e. paint powders),
binding films, etc. |
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No. of Employees : |
7 |
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 : |
Unknown |
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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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Israel |
A2 |
A2 |
|
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 |
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.
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Source : CIA |
NURIEL COHEN MARKETING & DISTRIBUTION LTD.
Telephone 972 4 637 93 06;
637 33 03
Fax 972 4 637 27
21
P.O. Box 795 (3710602)
21 Hamoshav Street
PARDES HANNA – KARKUR 3706921 ISRAEL
A private limited company, incorporated as per file No. 51-312046-9 on
the 20.06.2001.
Note: Subject does not have a registered Latin name, only in Hebrew.
Name’s free English translation is "NURIEL COHEN SHIVUK VEHAFATZA
LTD", whereas "Shivuk VeHafatza" stands for "Marketing
& Distribution".
Authorized share capital NIS 39,100.00, divided into:-
39,100 ordinary shares of NIS 1.00 each,
of which 100 shares amounting to NIS 100.00 were issued.
Subject is fully owned by Nuriel Cohen.
Nuriel Cohen, of 21 Hamoshav Street, Pardes Hanna – Karkur.
Traders in building inputs: concrete additives (i.e. paint powders),
binding films, etc.
Also importers and marketers of very large polypropylene-made sacks,
mainly used for building materials and for the agricultural sector.
Sales are local.
Among clients: CLAL CONCRETE PRODUCTS, M. RUTENBERG & SONS, SHACHAM
GIVAT ADA, LEV HASHARON CENTER, etc.
Among local suppliers: SHAHAL BUILDING MATERAILS, OROM COLORNETIM, SAPIR
PLASTIC INDUSTRIES, DAVIK SDE BOKER, etc.
Operating from an office at the owner's owned private residence, in 21
Hamoshav Street, Pardes Hanna – Karkur, and from a rented warehouse, on an area
of 500 sq. meters, in Kibbutz Mishmarot.
Having 7 employees, as of 2011 (had 5 employees in 2010, 3 employees in
2009, same as in 2007 and 2008). Current number of employees not disclosed.
Financial data not forthcoming.
There are 10 charges for unlimited amounts registered on the company’s
assets (financial assets and vehicles), in favor of Bank Leumi Le'Israel Ltd.
and a leasing company COLMOBIL LEASING (last charge placed in November 2012 on
financial assets – bank account).
2005 sales claimed to be NIS 4,000,000.
2006 sales claimed to be NIS 4,800,000.
First 5 months of 2007 sales claimed to be NIS 2,000,000.
Later sales figures not forthcoming.
Bank Leumi Le’Israel Ltd., Pardes
Hanna Branch (No. 954), Pardes Hanna – Karkur, account No. 141100/83.
Bank Hapoalim Ltd., Pardes Hanna Branch (No.
622), Pardes Hanna – Karkur.
Note: A/m bank data is based on an interview in mid 2011, as presently
data was not disclosed.
Nothing unfavorable learned.
Subject's owner and General Manager refused to update any business data, saying they stopped providing details
on their company (in previous last interviews General Manager refused to update
financial data).
Subject is ISO 9001:2008 certified.
In general, indicators in 2011 of the building sector –similar to the
trend of the local economy- were positive, continuing the improvement from 2010
after the slow-down in 2009. Investment in the local building branch rose by
5.9% in 2010 and by 9.2% in 2011. Investment in construction for dwelling rose
by 13.4% in 2011(divided into rise of 13.1% by private building and 17.8% by
public building), after rising of 12.7% in 2010 and 8.3% in 2009. Investment in
construction not for dwelling and other construction works (e.g. roads,
offices, industrial, institutional) grew by 4.4% in 2011(after 11% rise in
2010).
Consumption expenditure by households in 2011 on
Housing and on Housing Equipment grew by 2.8% and by 20%, respectively, in
annual calculation (grew by 2.5% and 7.5%, respectively, in 2010 from 2009).
Volume of building starts for dwelling (which is an indicator for the
trend in the building sector) in 2011 marked 9% increase from 2010, reaching
43,385 new apartments (after 7% rise from 2009), but a sharp decrease has been
noted in the first 3 quarters of 2012. In fact, since the 3rd quarter of 2011
building starts per quarter marked an average decrease of 6.7%, after 5
consecutive quarters of growth (4.2% in average).
Number of dwellings transactions fell 17% in 2011 from 2010, after
rising over the last years.
Housing prices over the last years kept rising due to the shortage in
supply of new apartments, much due to structural fault in the allocation of
plots in State hands. The Israeli Government initiated several reforms designed
to drive prices down in one hand, and increase supply on the other, which for a
period (since mid 2011) drove prices down in many areas. Yet, since 2012 2nd
quarter demand –and prices- stabilized and started rising again.
The building contractors blame the high inputs costs and the lack of
adequate financial accompanying for the projects by the banking sector (which
derives also from the slow-down in economy in general).
The slow-down in apartments and houses sales has been having its
negative effects on suppliers to the housing and construction branches. On the
other hand, the homes renovation branch has been in a growing trend over the
last periods.
Notwithstanding the refusal to update details, considered good for trade
engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.20 |
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|
1 |
Rs.86.99 |
|
Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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 |
-- |
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.