|
Report Date : |
26.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
MASTER INDUSTRIAL PROD |
|
|
|
|
|
|
Registered Office : |
P.O. Box 4029 16 Hamefalsim Street Kiryat Arieh Industrial Zone Petach Tikva 4951423 |
|
|
|
|
|
|
Country : |
Israel |
|
|
|
|
|
|
Date of Incorporation : |
10.10.1977 |
|
|
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
|
|
Line of Business : |
Manufacturers and marketers of paper products, including stationery, office supplies, school products, etc., |
|
|
|
|
|
|
No. of Employees : |
25 |
|
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 (31.03.2011) |
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
MASTER INDUSTRIAL PROD
Telephone 972 3 923 17 32
Fax 972 3 923 28 62
P.O. Box 4029
16 Hamefalsim Street
Kiryat Arieh Industrial Zone
PETACH TIKVA
4951423 ISRAEL
A private limited company,
incorporated as per file No. 51-076676-9 on the 10.10.1977.
Authorized share
capital NIS 450,000.00, divided into: -
4,500,000,000
ordinary shares of NIS 0.0001 each,
of which
4,157,000,000 shares amounting to NIS 415,700.00 were issued.
1. BARZEL INVESTMENT P.T., a foreign company of
South Africa,
2. Errol Derman, holding 1 single share,
3. Ms. Sheryl Derman, holding 1 single share.
1. Errol Dermanm, General Manager,
2. Itzhak Derman,
3. Mrs. Dorothy Derman,
4. Michael Derman,
5. Ms. Sheryl Derman,
6. Nir Davidson,
7. Ms. Merlyn Yoshfe,
8. Ms. Lisa Langbert.
Manufacturers and
marketers of paper products, including stationery, office supplies, school
products, etc., using the trade name “Niar Zion”.
Also importers and
marketers of paper bags, packaging papers, paper ornaments, stationary, etc.
All sales are
local.
Among clientele:
OFFICE DEPOT, MEGA BOOL, SHUFERSAL, ACE DIY, SHESHET, STEIMATZKY, TZOMET SFARIM,
KFAR HASHAASHUIM, SANO, DOMO, and more.
Sole local
representatives of:
HERLITZ, of
Germany.
Operating from
owned premises (office and plant), on area of 2,000 sq. meters, in 16
Hamefalsim Street, Kiryat Arieh Industrial Zone, Petach Tikva.
Having 25
employees as of mid 2010, current number unavailable.
Financial data not
forthcoming.
There are 5
charges for unlimited amounts registered on some of the company's (financial
assets, vehicles and a switchboard), in favor of Bank Leumi Le'Israel Ltd. and
its leasing company (last 2 charges placed June 2008 on a vehicle and a
switchboard, prior charges placed before year 2002).
2008 sales claimed
to be NIS 8,000,000.
2009 sales claimed
to be NIS 8,000,000.
2010 first 6
months sales claimed to be NIS 4,000,000.
Later sales data
not forthcoming.
Bank Leumi
Le'Israel Ltd., Concord Branch (No. 855), Bnei Brak.
Nothing
unfavorable learned.
Subject's General Manager,
Mr. Errol Derman, the only authorized person to disclose data on subject, is
presently abroad and due back in two weeks time. We shall contact him upon his
return and update you accordingly.
Subject is a
veteran business.
It should be noted, that a clients of subject (as we were informed in
previous years) are OFFICE DEPOT and ACE DIY chains. Both have been leading
office supplies chain and DIY chain, respectively, and both encountered grave
financially difficulties during the last year. OFFICE DEPOT entered
"freezing procedures" in these days, with reported debts to suppliers
(sum not mentioned). ACE MARKETING CHAINS also went into freezing procedures in
early 2012 (though in March 2012 ACE chain, with most of its branches, was sold
to ELECTRA Group, a leading and financially solid group, which continues to
operate the "ACE DIY" chain). Hence, we estimate subject may have
been hurt to some extent, though we are unable to access the damage.
According to the Central
Bureau of Statistics (CBS), import of raw materials for the Paper industries in
2010 increase by 27.5% from 2009, after in that year it witnessed 27% decrease
from 2008 due to the slow down trend in local economy. The upwards trend
continued into 2011, albeit in a much slower pace, rising by 5.5% from 2010 and
summing up to US$ 877 million. In parallel, the prices of imported inputs to
the Paper branch have been in a decrease trend (as of 2011 3rdQ)
since 2010 3rdQ, after a sharp prices rise since 2009 3rdQ,
as part of the global economy recovery.
There are some
8,000 employed in the local paper and cardboard industry, in 70 large plants,
as of 2010.
The local industry
investments in imported machinery and equipment in 2011 comparing to 2010 were as
follows (by industry segment):
The Paper and
allied products industries – marked 29% increase and summed up to NIS 229.8
million (after 60.5% decrease in 2010 from 2009).
Printing and Publishing industries – noted
15% increase and summed up to NIS 265.6 million (after 15.6% increase in 2010
from 2009).
Notwithstanding
the lack of updated data from subject's officials, considered good for trade
engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.08 |
|
|
1 |
Rs.89.09 |
|
Euro |
1 |
Rs.72.62 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.