MIRA INFORM REPORT
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Report Date : |
23.02.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
GADID IMPORT & MARKETING |
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Registered Office : |
17/14
Rashbi Street, Ashdod 77650 |
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Country : |
Israel |
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Year of Establishment : |
2001 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importers and marketers
of textile goods: fabrics, towles, mattresses protectors, etc. |
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No. of Employees
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04 |
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$ 50,000. |
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Status : |
Small Concern |
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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) |
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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 |
GADID
IMPORT & MARKETING
Telephone 972 8 865 88 96
Fax
972 8 865 74 58
Mobile 972 54 411 31 77 (Dov
Gerlitz)
17/14
Rashbi Street
ASHDOD 77650 -ISRAEL
A sole proprietorship, established in 2001.
Operating under License Dealer No. 321329278.
The business is registered
the Tax Authorities under the name of "GERLITZ HANDEL".
Handel (Ellen) Gerlitz.
Handel (Ellen) Gerlitz, born in 1979.
Importers and marketers of textile goods: fabrics, towles,
mattresses protectors, etc.
Sales are to many private customers, mainly from the
ultra-orthodox community.
Among corporate clients: AMINACH FURNITURE AND MATTRRESS
INDUSTRIES (leading local sleeping solutions chain).
Sole local representatives of (main one):
COTOBLAU, of Spain.
Operating from an office at the owned private residence of
the Gerlitz couple, in 17/14 Rashbi Street, Ashdod, and from a rented
warehouses, on an area of 250 sq. meters, in 17 Yosef Bar-Halfata Street,
Ashdod.
Having 4 employees, including the Gerlitz couple (which
the only employees in subject in mid 2009).
Current stock is valued at NIS 800,000 (was valued at NIS
600,000 in mid 2010, same as in 2008).
Other financial data not forthcoming.
2006 sales claimed to be NIS 700,000.
2007 sales claimed to be NIS 1,408,000.
2008 sales claimed to be NIS 1,500,000.
2009 sales claimed to be NIS 1,600,000.
2010 sales claimed to be NIS 2,500,000.
2011 sales claimed to be NIS 3,500,000.
Bank Poalei Agudat Israel Ltd., Ashdod Branch (No. 186),
Ashdod, account No. 879630.
A check with the Central Banks’ database did not reveal
any negative information regarding subject’s a/m account.
Nothing unfavourable learned.
According to Central Bureau
of Statistics (CBS), import of fabrics and yarns rose in 2010 by 16.6%, parallel to
the recovery in general in the local economy in 2010 (import fell in 2009 by
17.2% from 2008 due to the slow-down in economy). The trend continued in 2011, though in a much lower pace: import rose
2.1% comparing to 2010 to US$ 698.6 million. That reflects the current
market conditions which point on a stagnation in
general in the local economy since mid 2011, after a stronger first half of 2011.
Chinese production comprises the largest
portion of imported textile goods followed by France, Italy, Hong Kong and
Turkey. The increase in imports emanates from the exposure to foreign markets
policy by the State.
From Central
Bureau of Statistics data, 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).
Good for trade
engagements.
Maximum unsecured credit recommended US$ 50,000.
Note: the
phone number you provided (972 54 451 06 20) belongs to Meir Lipman, who is the
local representative of an Indian company, and subject buys also through him.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.49.25 |
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UK Pound |
1 |
Rs.76.75 |
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Euro |
1 |
Rs.65.16 |
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.