MIRA INFORM REPORT

 

 

Report Date :

24.12.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

BERALE – IMPORT & MARKETING ART CRAFTS LTD.

 

 

Registered Office :

32 Havatzelet Street, Yavne 8157085     

 

 

Country :

Israel

 

 

Date of Incorporation :

12.01.2004

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importers and marketers of giftware, ornamental, household & decorative products, including furniture

 

 

No. of Employees :

16 employees

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory  

 

 

Payment Behaviour :

No Complaints

 

 

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

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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

Company name & address

 

BERALE – IMPORT & MARKETING ART CRAFTS LTD.

(Also trading as BERALE HOME SPECIALS)

Telephone               972 8 943 93 49

Fax                         972 8 942 05 17

32 Havatzelet Street

YAVNE                   8157085       ISRAEL

 

 

HISTORY & LEGAL FORMATION

 

A private limited company, incorporated as per file No. 51-349501-0 on the 12.01.2004, continuing activities which began in the late 1990's..

 

 

SHARE CAPITAL

 

Authorized share capital NIS 10,000.00, divided into -

                10,000 ordinary shares of NIS 1.00 each,

of which 100 shares amounting to NIS 100.00 were issued.

 

 

SHAREHOLDERS

 

1.      Haim Gold, 33%,

2.      Ariel Gold, 33%,

3.      Eyal Gold, 33%, both latter are sons of Haim,

4.      Mrs Shoshana Gold, 1%.

 

 

DIRECTORS

 

1.      Eyal Gold, General Manager,

2.      Ariel Gold,

3.      Haim Gold.

 

 

BUSINESS

 

Importers and marketers of giftware, ornamental, household & decorative products, including furniture.

 

Having 800 steady clients.

Amongst clientele: BETILI, I.D. DESIGN, GOLF & CO., ENTER, (all 4 are leading household chains), MISHKEI GALIL ELYON, TAVOR FLOWERS, and others.

 

Operating from an office at the owned residence of the Gold family, in 32 Havatzelet Street, Yavne and a rented premises, warehouse and retail store, on an area of 3,000 sq. meters (1,300 sq. meters built), in Ad Halom Industrial Zone.

 

Having 16 employees (same as in previous years).

 

 

MEANS

 

Current stock is valued at NIS 4,000,000 (same as in the end of 2011).

Other financial data not forthcoming.

 

There are 11 charges for unlimited amounts registered on the company's assets (financial assets and vehicles), in favor of Bank Leumi Le’Israel Ltd., Mizrahi Tefahot Bank Ltd., Israel Discount Bank Ltd. and its leasing company (last charge was placed in April 2012 on a vehicle).

 

 

sales

 

l  2006 sales claimed to be NIS 6,500,000.

l  2007 sales claimed to be NIS 10,000,000.

l  2008 sales claimed to be NIS 12,000,000.

l  2009 sales claimed to be NIS 12,000,000.

l  2010 sales claimed to be NIS 12,000,000.

l  2011 sales claimed to be NIS 12,000,000.

l  2012 projected sales are NIS 12,000,000.

 

 

BANKERS

 

l  Bank Leumi Le’Israel Ltd., Yavne Branch (No. 939), Yavne, account  No. 117500/43.

l  Israel Discount Bank Ltd., Yavne Branch (No. 175), Yavne, account No. 140600.

 

A check with the Central Banks' database did not reveal any negative information regarding subject's a/m accounts.

 

 

CHARACTER AND REPUTATION

 

Nothing unfavorable learned.

 

According to the Central Bureau of Statistics (CBS) data, private consumption expenditure by local households in furniture in 2011 fell by 3.6% from 2010, after in 2010 it rose by 7.3% from 2009.

 

From CBS data, import of Household Utensils in 2011 rose by 7.3% from 2010, summing up to US$ 589.4 million. This comes after in 2010 import rose by 15.8% from 2009 (2009 level was similar to 2008).

 

The local household products market is considered highly competitive after reaching market saturation. It includes household textile, tableware and kitchenware and utensils, bath accessories and ornaments &decorative items, ceramic and glass ware, etc. According to estimations, the local household products market volume reaches NIS 2.5 – 3 billons annually (of which circa NIS 1 billion for “home textile”), and includes retail, wholesale, institutional markets (Retail chains capture 30% of the market share, specialization stores 20%, while the institutional and workers unions sector has 50% share).

 

 

SUMMARY

 

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.55.07

UK Pound

1

Rs.89.54

Euro

1

Rs.72.77

 

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

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

----

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.