MIRA INFORM REPORT
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Report Date : |
07.02.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
TODAN J.G.L. LTD. |
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Registered Office : |
19
Ben Atar Street, Tel Aviv 66078 |
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Country : |
Israel |
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Year of Establishment : |
1984 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers,
manufacturers (via
subcontractors) and marketers of
household textile products, including towels, bed linen, etc. |
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No. of Employees
: |
22 |
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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Maximum Credit Limit : |
US$ 100,000. |
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Status : |
Moderate |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 |
Company name & address
TODAN
J.G.L. LTD.
Telephone 972 3 681 96 31
Fax 972
3 981 58 92
19
Ben Atar Street
TEL
AVIV 66078 ISRAEL
HISTORY & LEGAL FORMATION
Originally established as a sole proprietorship in 1984, itself
continuing activities which began in early 1970's.
Converted into a private limited company and registered as
such as per file No. 51-116504-5 on the 31.12.1986.
Note:
Subject's Latin name may be also spelt I.G.L and/or Y.G.L.
SHARE CAPITAL
Authorized share capital NIS 5,000.00, divided into -
5,000 ordinary shares of NIS
1.00 each,
of which 1,000 shares amounting to NIS 1,000.00 were
issued.
SHAREHOLDERS
1. Jacob Leicht,
50%,
2. Mrs. Gila
Leicht, wife of Jacob Leicht, 50%.
DIRECTORS
1. Jacob Leicht,
General Manager,
2. Mrs. Gila
Leicht.
BUSINESS
Importers,
manufacturers (via subcontractors) and marketers of household textile products,
including towels, bed linen, etc.
Sales are to the institutional market, old age homes, hotels,
hospitals, etc.
Operating from premises (offices and retail store), owned
by shareholders, on an area of 150 sq. meters, in 19 Ben Atar Street, Tel Aviv,
and from rented warehouse, on an area of 2,500 sq. meters, in Farm No. 17,
Ahisamakh Village.
Having 22 employees.
MEANS
Financial data not forthcoming.
There is 1 charge for an unlimited amount registered on
the company's assets (financial assets), in favor of Israel Discount
Bank Ltd. (charge placed January 2007).
saleS
Sales figures not forthcoming.
BANKERS
·
Israel Discount Bank Ltd., Ben Yehuda Branch (No. 019), Tel Aviv.
·
Bank Leumi Le'Israel Ltd., Florentine Branch (No. 805), Tel Aviv.
CHARACTER AND REPUTATION
Nothing unfavourable learned.
Subject’s General Manager refused to disclose financial
details.
Subject is a veteran business.
According to Central Bureau
of Statistics (CBS), 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
Notwithstanding the refusal to disclose financial
details, considered good for trade engagements.
Maximum unsecured credit recommended US$ 100,000.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.48.68 |
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UK Pound |
1 |
Rs.76.75 |
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Euro |
1 |
Rs.63.57 |
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 |
|
<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.