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Report Date : |
20.12.2012 |
IDENTIFICATION DETAILS
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Name : |
ALASKA FOOD LTD. |
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Formerly Known As : |
ALASKA QUALITY PRESERVATION (1998) LTD |
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Registered Office : |
P.O. Box 768, Ramla (7210701), Building #111, Tzrifin Logistic Park, Tzrifin 6093000 |
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Country : |
Israel |
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Date of Incorporation : |
15.06.1998 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of foodstuff, including canned goods |
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No. of Employees : |
Having 30
employees (same as in mid 2012, had 36 employees as of beginning of 2010,
same as in 2008/9) |
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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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
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 |
ALASKA FOOD LTD.
Telephone 972 8 920 03 03
Fax 972 8 920 01 61
P.O. Box 768,
RAMLA (7210701)
Building #111
Tzrifin Logistic
Park
TZRIFIN 6093000 ISRAEL
A private limited company incorporated as per
file No. 51-264523-5 on the 15.06.1998.
Originally registered under the name ALASKA
QUALITY PRESERVATION (1998) LTD., which changed to the present name on
24.06.2004.
Subject is continuing the activities of ALASKA PRESERVES LTD., a private
limited company established in 1989, which ceased all activities and became a
holding company following the entrance of a new shareholder (and later changed
its name).
Authorized share capital NIS 35,700.00, divided into:-
10
management shares (4 shares issued),
35,690
ordinary shares (2,974 shares issued), all of NIS 1.00 each,
of which shares amounting to NIS 3,978.00 were issued.
1. RAFAEL B. D. IMPORT AND MARKETING LTD., 64%,
owned by Binyamin Cohanim,
2. Mansour
Faradian, 36%, an Americam citizen, cousin of Binyamin Cohanim.
Subject itself is also registered as a shareholder (holding ordinary
shares and all management shares). These shares belonged to Mr. Joseph Attar,
who sold his shares in subject.
Binyamin Cohanim.
Moti Gabai.
Importers and marketers of foodstuff, including canned goods, e.g. tuna,
sardines, preserved vegetables and fruits, canned food, etc, as well as edible
oil, olive oil, commodities, rice, pulses, pasta, cereals, mustard, etc.
Sales are to supermarket and marketing chains countrywide, including the
major ones SHUFERSAL and MEGA BOOL. Other supermarket chains: HAZI HINAM, TIV
TAAM, YAD ITZHAK, BITAN WINES, YOCHANANOV, MADANEI MENIA, RAMI LEVI CHAIN STORES
HASHIKMA MARKETING, SUPER-DOSH, etc.
Other customers: Israel Defense Forces, SHABI FOOD MARKETING, etc.
All of subject suppliers are foreign. Some 20% of import is from China.
Sole local
distributors of (main ones):
TILDA, of the UK,
PORTHOS, of Portugal,
COVINOR, of France,
MASUMASU, of Japan,
TRAVERSO'S, PANOLA, both of the U.S.A.,
DOLE, of the Philippines.
Operating from rented premises (offices and warehouse),
on an area of 3,000 sq. meters, in Building #111, Tzrifin Logistic Park, near
Ramla.
Having 30 employees (same as in mid 2012, had 36 employees as of
beginning of 2010, same as in 2008/9).
Current stock is valued at NIS 10,500,000 (similar to mid 2012, was
valued at NIS
Other financial data not forthcoming.
There are 7 charges for unlimited amounts registered on the company’s
assets (financial assets and vehicles), in favor of Bank Leumi Le’Israel Ltd.
and Mizrahi Tefahot bank Ltd (last 5 charges placed since 2004 have been on
vehicles, latest one placed in February 2012; last charge on financial assets
placed in 1998).
2006 sales claimed to be NIS 65,000,000.
2007 sales claimed to be NIS 63,000,000.
2008 sales claimed to be NIS 65,000,000.
2009 sales claimed to be NIS 65,000,000.
2010 sales claimed to be NIS 55,000,000.
2011 sales claimed to be NIS 55,000,000.
2012 projected sales are NIS 54,000,000.
RAFAEL B.D. IMPORT AND MARKETING LTD., owned by Binyamin Cohanim,
importers and marketers of raw materials (leather and imitation leather) mainly
for the shoes industry.
Bank Leumi Le’Israel Ltd., Tel Aviv Central Branch (No. 800), Tel Aviv,
account No.767900/54.
A check with the
Central Banks' database did not reveal anything detrimental on subject’s a/m
account.
Nothing unfavorable learned.
Subject's activities are veteran and 'Alaska' brands are known in the
local food market.
In May 2005, it was reported that subject will market a new dressing
series from American manufacturers PANOLA.
In June 2010 subject implemented an ERP system.
The local market for food & beverages grew by 11.4% from 2008 to
2011, summing up to NIS 35.15 billion, around 4.5% increase (in money terms) in
2011 from 2010.
The
Central Bureau of Statistics data shows that import of raw food
products to Israel in 2011 summed up to US$ 2,062.6 million, 23% increase from
2010 (a similar growth trend to 2010 from 2009, a year which witnessed a 20%
decrease from 2008). Over 50% of import is from the EU.
Import of food and beverages to Israel in 2011
summed up to US$ 2.36 billion, rising by 19% from 2010, which comes after a by 15.5%
increase in 2010 from 2009 (when import decreased by 9.4% comparing to 2008).
Import of food and beverages noted a decrease
of 11% (of US$ 177 million) in the first 8 months of 2012 and totaled US$ 1.4
billion for the period.
According
to the CBS, the total household expenditure for private consumption in 2011 on
food, beverage and tobacco rose 3.7% from 2010, after 4% rise in 2010 from
2009, reflecting an improvement trend in the loacl market after the general
slow-down in economy in 2009.
Good for trade
engagements.
Note: Please refer to subject's correct address
as in caption (left its facilities in Azor). Also, 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 January 2013).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.74 |
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UK Pound |
1 |
Rs.89.02 |
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Euro |
1 |
Rs.72.48 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.