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Report Date : |
20.12.2012 |
IDENTIFICATION DETAILS
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Name : |
SINGER INSTRUMENTS & CONTROL LTD. |
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Registered Office : |
2 Yozma Street Industrial Zone Tirat Carmel 3903202 |
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Country : |
Israel |
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Date of Incorporation : |
05.02.1975 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Developers, designers, manufacturers, exporters and marketers of
instruments and systems for industrial, medical and defense applications. |
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No. of Employees : |
40 |
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 (31.03.2011) |
Current Rating (30.06.2012) |
|
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.
|
Source : CIA |
SINGER INSTRUMENTS & CONTROL LTD.
Telephone 972 4 857 88 80
Fax 972 4 857 88
81
2 Yozma Street
Industrial Zone
Tirat Carmel 3903202 Israel
A private limited company, incorporated as per file No. 51-070482-8 on
the 05.02.1975, by Pedrico Singer (father of Yuval Singer, the present owner).
Originally registered under the name INSTRUMENTS & CONTROL – SINGER
& CO. LTD., which changed to the present name on the 09.08.1999.
Authorized share capital NIS 2.00, divided into -
20,000 ordinary shares
of NIS 0.0001 each,
of which 100 shares amounting to NIS 0.01 were issued.
(Note: The currency in
share capital was originally in Old Israeli Shekel whose nominal value
was 1 thousandth of the current New Israeli Shekel (NIS), converted in
1986).
1. Yuval Singer, 99%,
2. Patrick Elgaz Adv., 1%
in trustee.
Yuval Singer.
Developers, designers, manufacturers, exporters and marketers of
instruments and systems for industrial, medical and defense applications.
7% of sales are export.
Among clientele: ELBIT SYSTEMS, ELTA ELECTRONIC INDUSTRIES, RAFAEL
ADVANCED DEFENSE SYSTEMS, ISRAEL AEROSPACE INDUSTRIES, MEDIGUIDE, NASA (of the
USA), EL AL AIRLINES, GIVEN IMAGING, WEITZMAN INSTITUTE OF SCIENCE, and more.
Among local suppliers: SHIMSHON FINE MECHANICS, KALIR AUTOMATION, MOKED
PRECISION INSTRUMENTS, ALEXANDER SCHNEIDER, P.C.B. TECHNOLOGIES, and more.
Operating from premises, on an area of 1,100 sq. meters (850 sq. meters
rented, 250 sq. meters owned by shareholders), in 2 Yozma Street, Industrial
Zone, Tirat Carmel.
Having 40 employees.
Work is according to orders.
Financial data not forthcoming.
There are no charges registered on the company's assets.
2010 sales claimed to be NIS 8,500,000.
2011 sales claimed to be NIS 9,500,000.
2012 sales claimed to be NIS 14,500,000.
Y. SINGER ASSETS LTD., sister company, a real estate company.
INSTRUMENTS & CONTROL INC., affiliated company.
Union Bank of Israel Ltd., Merkaz Hacarmel Branch (No. 083), Haifa,
account
No. 829500/61.
Bank Leumi Le'Israel Ltd., Hacarmel Branch (No. 891), Haifa, account No.
173200/43.
A check with the Central Banks' database did not
reveal any negative information regarding subject's a/m accounts.
Nothing unfavorable learned.
Subject is a long established company.
Subject is ISO 9001:2008 and ISO 13485:2003 (Medical Devices) certified.
Despite the current general weakness in local markets (negatively
affected by the global economy), 2011 ended with significantly improved
economic indicators compared to
Good for trade engagements.
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
January 2013).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.73 |
|
|
1 |
Rs.89.02 |
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Euro |
1 |
Rs.72.48 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
RATING EXPLANATIONS
|
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 |
|
-- |
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.