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Report Date : |
13.02.2012 |
IDENTIFICATION DETAILS
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Name : |
STAR AGENCIES IMPORT & MARKETING LTD. |
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Formerly Known As : |
STAR TRADE S. T. LTD. |
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Registered Office : |
P.O. Box 1081 Kibbutz Mishmarot Logistics Center Pardes
Hanna 37110 |
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Country : |
Israel |
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Date of Incorporation : |
07.07.2004 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of sanitary ware for the kitchen and bathroom (tabs, toilet bowls, cabinets, faucets, etc.). |
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No. of Employees : |
19 employees. |
RATING & COMMENTS
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MIRAs 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$ 100,000. |
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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) |
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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 |
STAR AGENCIES
& MARKETING LTD.
Correct Name: STAR AGENCIES IMPORT & MARKETING
LTD.
Telephone 972 4 666 63 50/1
Fax 972 4 666 63 59
P.O. Box 1081
Kibbutz Mishmarot
Logistics Center
PARDES
HANNA 37110-ISRAEL
A private limited company, incorporated as per file No. 51-356461-7 on
the 07.07.2004 under the name STAR TRADE S. T. LTD., which changed to the present
name on the 10.08.2004.
Authorized share
capital NIS 20,000.00, divided into -
20,000 ordinary shares of NIS
1.00 each,
of which 1,000
shares amounting to NIS 1,000.00 were issued.
1. ARIE
BAUM MANAGEMENT & INVESTMENT LTD., 90%, owned by Arie Baum,
2. TOVA
WITZMAN MANAGEMENT & INVESTMENTS LTD., 10%, owned by Ms. Tova Witzman.
In June 2010 Arie
Baum and Ms. Tova Witzman became the owners of subject see more in CHARACTER.
1. Arie Baum, General Manager,
2. Ms. Tova Witzman.
Importers and
marketers of sanitary ware for the kitchen and bathroom (tabs, toilet bowls,
cabinets, faucets, etc.).
Subject is the marketer of the products of UNITROL AMCOR LTD., local
importers of sanitary and kitchen ware products (manufactured in China).
Among customers: ALONY MARBLE.
Sole local representatives of PAINI, of Italy.
That is the main representation (having others, though not disclosed).
Operating from rented premises, on an area of 1,700 sq. meters, in
Kibbutz Mishmarot Logistics Center, Pardes Hanna (to where subject moved
from 7 Gesher Haetz Street, Industrial Zone, Emek Hefer).
Having 19 employees.
Current stock is valued at NIS 3,500,000.
Other financial data not forthcoming.
There are 2 charges for unlimited amounts, as well as 1 charge for the
sum of NIS 575,000.00 registered on the company's assets (financial assets and
fixed assets), in favor of Bank Leumi Le'Israel Ltd. and Israel Discount Bank
Ltd. (charges placed May June 2010).
2010 sales claimed to be NIS 25,000,000.
2011 sales claimed to be NIS 25,000,000.
Israel Discount
Bank Ltd., Hatzerot Yafo Branch (No 026), Tel Aviv-Yafo.
Nothing
unfavorable learned.
Subject was part of the veteran FRISHMAN BROS. Group, a leading group in
the trade in construction and sanitary ware equipment in Israel. In June 2010
Shlomo Fishman left subject.
Arie Baum is a veteran
in subject's line of activity, who served as marketing Manager in PROFILON, a
veteran company operating in subject's line of business.
Consumption expenditure of households in 2010 on Housing and on Housing
Equipment grew by 2.5% and by 7.5%, respectively, in annual calculation.
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
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.
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.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 |
-- |
This score serves as a reference to assess SCs 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.