MIRA INFORM REPORT

 

 

Report Date :

09.02.2012

 

IDENTIFICATION DETAILS

 

Name :

BALIBO D.L. LTD.

 

 

Registered Office :

30 Dekel Street, Yagel 71696

 

 

Country :

Israel

 

 

Date of Incorporation :

08.01.2012.

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importers and marketers of children's apparel

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

--

NB

                                       New Business

 

--

 

Status :

New company

 

 

Payment Behaviour :

Unknown

 

 

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 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Israel

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address       

 

BALIBO D.L. LTD.

Telephone    972 8 921 63 10

Fax              972 8 921 63 10

30 Dekel Street

YAGEL        71696-ISRAEL

 

 

HISTORY & LEGAL FORMATION

 

A private limited company, incorporated as per file No. 51-471496-3 on the 08.01.2012.

 

 

SHARE CAPITAL

 

Authorized share capital NIS 1,000,000.00, divided into -

                 1,000,000 ordinary shares of NIS 1.00 each,

of which 100 shares amounting to NIS 100.00 were issued.

 

 

SHAREHOLDERS

 

Subject is fully owned by David Levi.

 

 

SOLE DIRECTOR & GENERAL MANAGER

 

David Levi.

 

 

BUSINESS

 

Importers and marketers of children's apparel.

 

Operating from premises in 30 Dekel Street, Yagel Village (or “Moshav Yagel”, where “moshav” is a local typical village or settlement, in particular a type of cooperative agricultural community of individual farms), situated near Lod.

 

Number of employees, if any not, forthcoming.

 

 

 

MEANS

 

Financial data not forthcoming.

 

There are no charges registered on the company's assets.

 

 

REVENUES

 

Sales figures not forthcoming.

 

 

BANKERS

 

Bank data not forthcoming.

 

 

CHARACTER AND REPUTATION

 

Nothing unfavorable learned.

 

Dani Levi (son of subject's owner and General Manager, Mr. David Levi), refused categorically to disclose any details, besides general business activity.

 

According to our, David Levi is a veteran in the children's apparel field, having an affiliation to ZUZIKIM FASHION DESIGN AND MANUFACTURE FOR BABIES AND CHILDREN LTD., established 1988, which according to our files is owned by the Levi family and David Levy as a director and manager.

 

The local textile and fashion market is valued at NIS 7.5 billion per annum, NIS 6 billion of which is attributed to the fashion branch.

According to surveys, around 50% and more is women's fashion. Moreover, 40% of fashion stores in Israel belong to fashion chains, the rest being private shops.

 

According to the Central Bureau of Statistics (CBS), import of Clothing and Footwear in 2011 kept the rising trend from 2010: import rose by close to 19%, after rising 13.4% in 2010 from 2009, summing up to US$ 1,707.3 million (in 2009 the local market experienced a slow-down). Most import comes from China. Main other countries of origin for textile goods are France, Italy, Hong Kong and Turkey, Spain and the U.S.A.

 

Despite the fears due to the slow-down trend in the local economy, mainly since mid 2011, sales by the local fashion –clothing and footwear- branch in 2011 witnessed a growth. The income of fashion chains (which covers 1,350 shops, the major chunk of fashion sales in Israel) summed up to NIS 4.52 billion, representing a 5.7% rise from 2010 in money terms. Sales during the year characterized in ups and downs, though eventually they came higher than 2010, a year which was better than 2009, when the branch suffered from slow-down (coupled with the general local economic environment) and overall sales indicators were negative. 2010 sales were only marginally positive. Sales have been also influenced by the entrnce of new international fashion players to the already highly competitive local market (GAP, H&M in 2009/2010, Forever 21 in 2011).

 

According to the Central Bureau of Statistics (CBS), the current expenditure for private consumption in 2010 for clothing, footwear and personal items fell by 5.1% from 2009, continuing the decreasing trend in 2009, though in an higher magnitude (in 2009 it fell marginally (0.7%) from 2008, after rising 4.1% from 2007). This happened in contrast to the general trend in the local market in 2010, where expenditure level for private consumption actually increased.

According to surveys, average spending per houshold on clothing & footwear in 2008 reached NIS 483 per month and fell to around NIS 455 per month in 2009 (similar level as 2007).

 

 

SUMMARY

 

Considering the refusal to disclose any data and being a newly established company, dealings are recommended on fully secured basis.

 

Note: Dani Levi informed us that he does not know to whom the cell phone No. you provided (972 50 882 90 80) belongs to.

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.06

UK Pound

1

Rs.78.08

Euro

1

Rs.65.15

 

 

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.