MIRA
INFORM REPORT
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Report Date : |
13.02.2012 |
IDENTIFICATION DETAILS
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Name : |
HOLMAR HOLYLAND MARBLE LTD. |
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Registered Office : |
14 Hacharash Street Tel Aviv 67613 |
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Country : |
Israel |
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Date of Incorporation : |
22.03.1984 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of marble and granite stone. |
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No. of Employees : |
18 employees |
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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Maximum Credit Limit : |
US$ 75,000. |
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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 – September 30, 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 and address
HOLMAR HOLYLAND
MARBLE LTD.
Telephone 972 3 537 37 30
Fax 972 3 537 37 39
14 Hacharash Street
TEL AVIV 67613-ISRAEL
HISTORY & LEGAL FORMATION
A private limited company, incorporated as
per file No. 51-101895-4 on the 22.03.1984.
SHARE CAPITAL
Authorized share
capital NIS 150.00, divided into -
150,000
ordinary shares of NIS 0.001 each,
of which 600
shares amounting to NIS 0.60 were issued.
SHAREHOLDERS
Company is fully
owned by Meir Balassiano (as of the beginning of 2007, after taking over the
50% stake held by Mr. Balassiano’s sister).
SOLE DIRECTOR AND GENERAL MANAGER
Meir Balassiano.
BUSINESS
Importers and
marketers of marble and granite stone.
Among clients are large contractors, architects
and companies in the construction industry e.g. ASHTROM, CARIV, YOSSI AVRAHAMI,
B. YAIR, TIDHAR, GINADI, RAMET, B.S.T., H.G.I.I., ARENSEN, NOF YAM, GINDI
BROS., ROM GEVES, M. AVIV, etc. Also sells directly to private customers.
Almost 100% of purchases are imported, mainly
from Spain, Turkey, Greece, India and China.
Operating from rented premises, on an area of
2,500 sq. meters, in 14 Hacharash Street, Tel Aviv.
Having 18 employees (had 14 employees in 2009).
MEANS
Current stock is valued at NIS 7,000,000 (was NIS
6,500,000 in 2009).
Other financial data not forthcoming.
There are 5 charges for unlimited amounts
registered on the company's assets (financial assets, fixed assets, equipment
and vehicles), in favor of the First International Bank of Israel Ltd. and its leasing company (last 4 charges placed
January – February 2008).
REVENUES
2005 sales claimed to be NIS 15,000,000.
2006 sales claimed to be NIS 16,000,000.
2007 sales claimed to be NIS 16,000,000.
2008 sales claimed to be NIS 16,000,000.
2009 sales claimed to be NIS 16,000,000.
2010 sales claimed to be NIS 17,000,000.
2011 sales claimed to be NIS 17,000,000.
BANKERS
First
International Bank of Israel Ltd., Vita Towers Branch (No. 023), Bnei Brak,
account No. 245356.
A check with the Central Banks’ database did not reveal negative information
on subject’s above mentioned account.
CHARACTER
AND REPUTATION
Nothing unfavorable learned.
The company is long established.
Subject's list of projects where it supplied its
products includes the Ministry of Foreign Affairs in Jerusalem, Shiba Hospital,
Soroka Hospital, Israel Museum, Cinema City Mall among many others.
There are some 250 importers of ceramics and granite porcelain operating in
Israel, and the branch is highly competitive.
In 2010 some 37% of imported ceramic and porcelain goods were from Turkey,
as well as relatively high portion from China (27%), on account of the
traditional suppliers from Spain (20%) and Italy.
The general improvement in local economy in 2010 was felt in the
building sector. Investment in the local building branch rose by 5.9% in 2010.
Investment in construction for dwelling rose by 4.1% in 2009 and by 13.8% in
Consumption expenditure of households in 2010 on Housing and on Housing
Equipment grew by 2.5% and by 7.5%, respectively, in annual calculation.
Volume of building starts for dwelling in 2010 reached a decade record
of 39,000 new apartments, 7% higher than 2009 (which marked 6.5% rise from 2008
and similar level to previous year). Total number of transactions in dwellings
in 2010 also rose from 2009, continuing the growing trend from 2008, albeit in
lower ratio (less than 1% rise in 2010).
In the first half of 2011, number of building starts rose by 15% from
2010, thanks to the Government marketing efforts, however cooled down in 2011 2nd
half, which generally characterized the stagnation and even retreat in the
local real estate market, chiefly apparent in the contraction in the number of
transactions.
Housing prices over the last years kept rising due to the shortage in
supply of new apartments, while demand kept rising, much due to structural
fault in the allocation of plots in State hands. In view of avoiding a real
estate bubble and allowing cheaper housing prices, the Israeli Government
initiated recent reforms, designed to drive prices down in one hand, and
increase supply on the other. Indeed, since mid 2011 there has been drop in
prices in many areas. Buyers have been waiting prices to fall further while
contractors await the prices to pick-up again. Demand fell due to the negative
economic climate, and in the supply side the banks are shutting down credit to
contractors.
SUMMARY
Good for trade engagements.
Maximum unsecured credit recommended US$ 75,000.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.64 |
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|
1 |
Rs.78.35 |
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Euro |
1 |
Rs.65.79 |
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 |
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<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.